Business

Martin Marietta to resolve antitrust issues with Justice Dept.

June 24, 2014

(The News & Observer, Raleigh)

Martin Marietta Materials will finalize a deal this week with the federal government that will resolve antitrust concerns regarding the company's $2.7 billion acquisition of Texas Industries. The acquisition will make Raleigh-based Martin Marietta the country's largest provider of crushed stone, rock and gravel construction materials used in foundations for roads and sidewalks.

Two new developments under way in north Mecklenburg

June 24, 2014

(The Charlotte Observer)

Construction has begun on Two Harbour Place in Davidson, a 51,000-square-foot office and retail building that will serve as the regional office for Minneapolis-based paint company Valspar Corp. In Huntersville, Northwood Ravin broke ground on a 400-unit apartment project. Construction on both projects is expected to be completed in 2015.

Morrisville's Gentris Corp. to be sold for $4.75 million

June 24, 2014

(The News & Observer, Raleigh)

Gentris Corp. will be acquired by Rutherford, N.J.-based Cancer Genetics for $4.75 million. The Morrisville-based company provides pharmacogenomic services, which helps determine individualized dosage levels of drugs for patients. Gentris employs 40 at Morrisville and at a lab in China.

State jobless rate creeps up to 6.4% in May

June 23, 2014

(The Fayetteville Observer)

North Carolina's unemployment rate was 6.4% in May, up from 6.2% in April, despite 19,000 people joining the labor force. The rate is still 1.9 percentage points lower than the same period a year ago. The U.S. May unemployment rate was 6.3%.

Report shows improving U.S. 70 would lead to jobs growth

June 23, 2014

(Sun Journal, New Bern)

Improvements to U.S. 70 between Raleigh and the coast could lead to the creation of up to 1,900 jobs, according to a report released last week. Supporters of the project say the corridor needs a four-lane freeway system to connect the state capital to Port of Morehead City.

Concrete industry wants to buy Duke's coal ash

June 23, 2014

(The Charlotte Observer)

Concrete companies wonder why Duke Energy isn't willing to sell more of its coal ash for use in cement. Charlotte-based Duke says it is evaluating several construction products that could be made with the ash. 

Officials pleased with back-to-back US Opens

June 23, 2014

(The Fayetteville Observer)

Though official attendance figures have not been released, the back-to-back U.S. Open and U.S. Women's Open championships that concluded Sunday drew an estimated 335,000 to 340,000 people to Pinehurst, according to the tournament's director. A team of 6,200 volunteers helped the events run smoothly.

Analyst sees value in Reynolds' natural-tobacco subsidiary

June 23, 2014

(Winston-Salem Journal) 

A leading analyst says Reynolds American has an "unappreciated asset" in its Santa Fe Natural Tobacco Co. subsidiary, and a sale or spin-off of the company, which could be worth up to $6 billion, makes sense whether or not Winston-Salem-based Reynolds moves to acquire Greensboro-based rival Lorillard.

Whitfield promoted to head of business affairs at UNCW

June 23, 2014

(Greater Wilmington Business Journal)

Rick Whitfield will become vice chancellor for business affairs at UNC Wilmington July 1. Whitfield, who has 35 years of experience in higher education, has been the university's associate vice chancellor of business affairs since 2010. He succeeds Charles Maimone, who accepted a similar position at UNC Greensboro.

NC needs better strategy to retain college graduates

June 23, 2014

(The News & Observer, Raleigh)

North Carolina must do a better job of keeping talented college graduates here, and one way to do that could be through city-sponsored internship programs that connect interns with other young professionals.