Business

Quintiles founder, private-equity firms to sell 13.3M shares

November 6, 2014

(The News & Observer, Raleigh)

Quintiles chairman and founder Dennis Gillings, along with three private-equity firms, plan to sell off a combined 13.3 million shares of the Durham-based company, bringing their combined stake to less than 50%. The contract-research organization will no longer be considered a controlled company, and it will no longer be exempt from certain New York Stock Exchange requirements that exist to protect shareholders.

Philip Morris decision could impact Reynolds' approach to sourcing

November 6, 2014

(Winston-Salem Journal)

R.J. Reynolds Tobacco Co. could feel increased pressure to streamline its supply chain following Philip Morris International's decision to buy U.S. tobacco leaves from only two suppliers, Morrisville-based Alliance One International and Richmond, Va.-based Universal Corp. Labor advocates have pressured Reynolds for years to improve working conditions at tobacco farms.

Wake Forest Baptist gets another credit downgrade

November 6, 2014

(Winston-Salem Journal)

Standard & Poor's Ratings Services lowered the bond rating for Wake Forest Baptist Medical Center from A+ to A. The report says the downgrade was due to the medical center's "weak operating performance." The bond rating credit service lowered its rating to A+ from AA in its last review on Nov. 1, 2013.
Related: "Baptist gets a fiscal," August

Sale of Midwest power plants lifts 3Q profits for Duke Energy

November 6, 2014

(The Charlotte Observer)

Duke Energy's third quarter profits increased 27%, driven by a higher-than-expected sale price of 11 Midwest power plants, though its earnings fell short of analysts' expectations.

Greensboro Partnership picks search firm for new CEO

November 6, 2014

(News & Record, Greensboro)

The Greensboro Partnership has hired national recruiting firm Jorgenson Consulting to lead the search for its new president and CEO. Pat Danahy, current CEO of the economic-development association, announced in August he will retire at the end of the year (Statewide, October).

Court of Appeals again sides with FirstHealth

November 6, 2014

(The Fayetteville Observer)

The N.C. Court of Appeals has ruled for the second time in two weeks in favor of FirstHealth of the Carolinas over Fayetteville-based Cape Fear Valley Health System. The court said Tuesday that FirstHealth should be allowed to move one of its operating rooms from its Pinehurst hospital to its new Hoke County hospital, which will compete for patients with Cape Fear Valley's new 41-bed Hoke County hospital.

Two Raleigh pharmaceutical-services firms to go public this week

November 5, 2014

(The News & Observer, Raleigh)

Both Raleigh-based PRA Health Sciences and INC Research are expected to go public this week. PRA looks to sell 18.6 million shares of stock priced between $20 and $23 each; trading is expected to begin Thursday. INC is expected to prices its shares on Thursday and begin trading on Friday.

Aerospace advocacy group looks beyond Triad

November 5, 2014

(Winston-Salem Journal)

A new Greensboro-based nonprofit organization aims to develop a strategy for increasing growth prospects for aviation- and aerospace-related jobs across North Carolina. N.C. Aerospace was formed as part of the Piedmont Triad Partnership, but will likely become independent in 2015, allowing it to grow beyond the Triad region.

CMS superintendent resigned amid allegations of misconduct

November 5, 2014

(The Charlotte Observer)

Charlotte-Mecklenburg Schools Superintendent Heath Morrison resigned just two days after the completion of an investigation into allegations of misconduct, including bullying staff members, and cost overruns at new schools.

Ports director says Wilmington can compete with larger ports

November 5, 2014

(StarNews, Wilmington)

N.C. State Ports Authority CEO Paul Cozza says Wilmington's small size allows the port to provide opportunities and services that more congested cities can't.