Business

ECU medical school seeks more funding

February 24, 2015

(The News & Observer, Raleigh)

ECU Chancellor Steve Ballard wants the state legislature to increase funding for the Brody School of Medicine by $8 million this year and by $30 million each year afterward. Ballard says the school needs the additional funding to keep training doctors for rural North Carolina and to keep operating clinics that serve eastern N.C. residents who can't afford to pay for healthcare.

Bill aims to lure more data centers to NC

February 24, 2015

(News & Record, Greensboro)

North Carolina legislators introduced a bill that provides a sales-tax exemption on electrical bills for companies that operate data centers in the state. Rep. Mike Hager, who co-sponsored the bill, says that while data centers don't provide a lot of jobs, the jobs pay well, and more data centers could attract high-tech suppliers to nearby communities.

Morrisville's MaxPoint details plans for IPO

February 24, 2015

(The News & Observer, Raleigh)

Morrisville-based MaxPoint Interactive hopes to sell 6.5 million shares priced between $10.50 and $12.50 each in its initial public offering, according to a regulatory filing Monday. The digital-marketing company helps clients determine the best neighborhoods to market their products.

Appalachia report shows progress, deficiencies

February 24, 2015

(News & Record, Greensboro)

A new report shows poverty rates in the Appalachian region have fallen by about half since 1965, when the Appalachian Regional Commission was established to help the 420 counties in the 13-state region. The study says the region still lags behind the rest of the country in several important measures.

 

Fayetteville approves incentives for chicken plant

February 24, 2015

(WRAL.com)

Fayetteville City Council voted 7-3 in favor of incentives for Sanderson Farms to build a chicken-processing plant that would create 1,000 jobs. Cumberland county commissioners approved economic incentives for the project in January, reversing an earlier decision. The Mississippi-based company hasn't said if it is still considering Cumberland for its proposed plant; Robeson County held a hearing last week for a similar project, speculated to be Sanderson Farms. 

Chinqua Penn sold for $1.35M

February 24, 2015

(News & Record, Greensboro)

Chinqua Penn Plantation has a new owner. Legends International Inc. paid $1.35 million for the Reidsville property on Monday. Built in the 1920s, the 27-room estate was last owned by SunTrust Bank, which bought it at auction after previous owner Calvin Phelps filed for bankruptcy in 2012 ("Rise and Fall of Renegade," October).

Brevard College sheds investments in fossil fuels

February 24, 2015

(The Transylvania Times)

The Board of Trustees of Brevard College voted Friday to divest all of the school's endowments in fossil fuels and will reinvest the money into more environmentally friendly funds. The move was mostly symbolic, as only about $600,000 of the school's $25 million endowment is tied up in fossil fuels.

Allegiant Air begins service from RDU to Florida

February 24, 2015

(The News & Observer, Raleigh)

Low-cost carrier Allegiant Air will begin twice-weekly service from Raleigh-Durham International Airport to three Florida airports. The Las Vegas-based airline will begin flights to St. Pete-Clearwater on May 6 and to Orlando-Sanford and Punta Gorda on May 7. Introductory fares ranging from $44 to $54 are being offered to passengers who book trips by Wednesday. 

Valeant to acquire Raleigh's Salix for $10 billion

February 23, 2015

(WRAL.com, Raleigh)

Valeant Pharmaceuticals will acquire Raleigh-based Salix Pharmaceuticals for approximately $10 billion, or $158 per share. Including debt, the all-cash deal is valued at about $14.5 billion. Laval, Quebec-based Valeant makes prescription and over-the-counter eye- and skincare products. Salix develops drugs to treat gastrointestinal illnesses. The deal is expected to close in the second quarter.

Nine federal charges filed against Duke Energy

February 23, 2015

(The Charlotte Observer)

Federal prosecutors on Friday filed nine misdemeanor charges against Duke Energy for coal-ash pollution at the utility's power plants in Asheville, Charlotte, Eden, Goldsboro and Moncure. In an earnings report released earlier in the week, Charlotte-based Duke said it had agreed to pay $102 million to settle the cases.
Related: Federal probe appears to blame Duke Energy, not NC DENR