Business

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.

Goldsboro hospital OKs partnership with UNC Health

January 4, 2016

(Winston-Salem Journal)

The executive committee of Wayne Memorial Hospital in Goldsboro has authorized a management-services agreement with UNC Health Care, though no formal plan has been announced. Bill Paugh retired as president and CEO of the 316-bed hospital on Dec. 31.

Fate of I-77 toll lanes in Charlotte City Council's hands

January 4, 2016

(The Charlotte Observer)

Charlotte City Council could vote as early as Monday on whether to support or reject the construction of toll lanes on Interstate 77. Gov. Pat McCrory asked a regional transportation planning group to vote on the project later this month, but Charlotte holds the deciding vote. The N.C. DOT has said that canceling the project, which was awarded to Spanish developer Cintra, could cost the state up to $100 million; opponents say that figure is inflated.

Western NC ski resorts back in business

January 4, 2016

(Asheville Citizen-Times)

After weeks of unseasonably warm weather, ski areas in Western North Carolina are open for business, with temperatures finally cold enough to resume snowmaking. Cataloochee Ski Area will be open expanded hours this week to take advantage of the cold temps.

North Carolina's new prosperity hasn't reached many areas

December 28, 2015

(Greensboro News and Record)

About 300,000 more people are working in North Carolina this year than at the beginning of 2007, but virtually all of the growth occurred in the Triangle and Charlotte metro areas, a study of employment statistics show. Twenty-six N.C. counties have lost jobs over the past year. The Triangle and Charlotte have added more than 380,000 jobs since 2007, while the Greensboro-Winston-Salem area has expanded by fewer than 3,500.

Drug developer Chimerix's stock collapses

December 30, 2015

(The News & Observer)

Chimerix shares declined 81% on Monday after the Durham-based company reported disappointing results in a clinical trial. A Chimerix drug was tested in a trial of 452 adults who had undergone stem cell transplants at more than 40 transplant centers. The drug was initially effective in suppressing an infection initially, but the infection returned. Shares traded for more than $53 in July, but were at about $7 today. CEO Michelle Berrey said the company had $378 million in capital as of Sept. 30.


Read more here: http://www.newsobserver.com/news/business/article51965455.html#storylink=c. The drug development company said patients who took its drudied at higher rates than those who ingested a placebo. 

Read more here: http://www.newsobserver.com/news/business/article51965455.html#storylink=cpy

Cary-based SAS promotes two execs

December 24, 2015

(The News & Observer, Raleigh)

SAS Institute promoted Randy Guard, who has worked for the software company for more than 15 years, to chief marketing officer. Guard succeeds Jim Davis, a longtime SAS employee who left to take a similar role at California-based Informatica. Also, Fritz Lehman was promoted from senior vice president of customer engagement and support to chief customer officer, a new position.