Business

Daimler to lay off 936 workers in Rowan County

January 5, 2016

(The Charlotte Observer)

Daimler Trucks North America is cutting production by one-third at its Cleveland Truck Manufacturing Plant, where 3,100 workers make Freightliner and Western Star trucks. The cuts are due to a "sustained reduction in orders and a diminished build rate," according to a company spokesman.

Only 2 NC counties support offshore drilling

January 5, 2016

(StarNews, Wilmington)

Brunswick and Carteret are the only two counties in the state that have approved resolutions supporting offshore seismic testing. At least 29 governments, mostly in coastal areas, have passed resolutions against offshore exploration or testing for oil and natural gas, according to environmental group Oceana.

Design blog ranks NC's logo worst of 2015

January 5, 2016

(The News & Observer, Raleigh)

North Carolina's "Nothing Compares" logo, introduced last year as part of a new $1.5 million branding campaign, topped the list of worst logos of 2015, ranked by Under Consideration, an Austin, Texas-based design blog: "Not a single element of this logo is right, in concept or execution." Ouch.

Former Appia CEO launches another startup

January 5, 2016

(The News & Observer, Raleigh)

Jud Bowman, the 34-year-old entrepreneur whose Durham-based tech company was acquired last year by Digital Turbine in a $100 million deal, has launched Sift Media, a digital advertising company. Los Angeles-based Digital Turbine holds a 9.9% ownership stake in Sift, which is based in Durham and has already raised $3.25 million.

Charlotte's Park Sterling completes purchase of Virginia bank

January 5, 2016

(The Charlotte Observer)

The Charlotte-based community bank completed its $87.1 million acquisition of First Capital Bancorp, based in Glen Allen, Va. The deal boosts Park Sterling's number of branches in the Richmond area to 10. Park Sterling now has $3.1 billion in assets and 57 locations in the Carolinas, Virginia and Georgia.

RTP's Hamner Institutes shuts down

January 5, 2016

(The News & Observer, Raleigh)

The Hamner Institutes for Health Sciences has ceased operations and sold its chemical safety division to Durham-based SciMetrika. In 2013, the nonprofit sold its 56-acre RTP campus to California-based Alexandria Real Estate for $20 million and had since been leasing back space. Alexandria unveiled in November plans to expand the space into a new life-sciences campus with more than 1 million square feet.

Barber-Scotia College suspends classes

January 5, 2016

(Independent Tribune, Concord)

Financially troubled Barber-Scotia College in Concord has closed for the spring semester while trustees look at ways to restructure. The historically black college has struggled since losing its accreditation in 2004, preventing students from being eligible for federal financial aid. The school hopes to reopen in fall 2016.

EMC announces layoffs; impact on Triangle unclear

January 4, 2016

(WRAL TechWire)

EMC Corp. plans to cut jobs as part of a companywide restructuring, according to a regulatory filing last week, though the impact on its estimated 1,400 employees in the Triangle is unknown. The Massachusetts-based data storage company agreed in October to be acquired by computer maker Dell Inc. for about $67 billion.

NC stocks outperform broader market

January 4, 2016

(The Charlotte Observer)

Overall, stocks for the state's 50 biggest public companies rose an average of 4.7% in 2015. Charlotte's Coca-Cola Consolidated had the best showing – its stock price increased 107% as the largest independent Coke bottler expanded its distribution territory. Other top performers were PRA Health Sciences and INC Research, two Raleigh-based CROs that went public in late 2014. The biggest loser was Greensboro-based The Fresh Market, which declined 43%.
Related: Best NC stocks for 2016

Chimerix lands big hedge-fund investment

January 4, 2016

(WRAL TechWire)

After reporting disappointing clinical trial results and a subsequent stock collapse last week, drug developer Chimerix has received an investment from Point72, a Stamford, Ct.-based hedge fund that says it has taken a 5.3% stake in the Durham-based company.