Business

Durham drug developer raises $30M

December 17, 2015

(WRAL TechWire)

Novan Therapeutics, a Durham-based biotech firm developing a nitric oxide-based acne treatment, has raised $30 million. That's on top of $50 million the company raised in March. Novan's board includes Robert Ingram, former CEO of GlaxoWellcome, and Cree co-founder F. Neal Hunter.

American Airlines adds three routes from Charlotte

December 17, 2015

(The Charlotte Observer)

American Airlines will add a daily nonstop flight from Charlotte to Madison, Wis., starting April 5 and weekly nonstop flights to the Caribbean island of Curacao and Puerto Plata in the Dominican Republic beginning Saturday.

Raleigh community activist Ray Price dies at 78

December 17, 2015

(WRAL.com, Raleigh)

Johnston County native Ray Price, owner of Ray Price Harley-Davidson in Raleigh, died Wednesday at 78. Price was well-known in the Raleigh community for hosting charity events and organized the annual Capitol City Bikefest, an event that drew more than 100,000 people to downtown Raleigh each year.

Wells Fargo economists predict strong growth in the year ahead

December 17, 2015

(The Charlotte Observer)

Nonfarm employment in North Carolina is expected to rise 2.6% in 2016, according to a report from Wells Fargo Securities. Economists predict the state's unemployment rate will drop but still remain higher than the national average.

Vertex Railcar adding jobs as orders roll in

December 16, 2015

(StarNews, Wilmington)

Vertex Railcar says it has two orders for a total of 1,100 railcars that will keep the manufacturer busy through most of 2016. The company, which eventually plans to hire 1,300 people in Wilmington, has completed its first 60 cars. Vertex currently has 189 employees and is still hiring, according to Foster Sayers, the company's lawyer.

Charlotte restaurant boycotts Anheuser-Busch products

December 16, 2015

(The Charlotte Observer)

Diners at Queen City Q, a Charlotte restaurant chain with three locations and another planned, will no longer be able to order a Budweiser or Corona to wash down their meals. The chain is boycotting products associated with AB InBev after a Wall Street Journal story suggested the company rewards distributors who focus on its beers while limiting beers from craft brewers

Judge refuses to dismiss lawsuit over Amazon wind farm

December 16, 2015

(The News & Observer, Raleigh)

A judge on Monday denied a request to throw out a lawsuit seeking to block construction of the Amazon Wind Farm in northeastern North Carolina. A couple from Perquimans is seeking a lengthy regulatory review of the $400 million project, which is already under construction, that developers say would kill the project.
Read "Hot Air," from BNC's December issue, to learn more about the Amazon-financed project

Warm temps hurting NC ski industry

December 16, 2015

(Asheville Citizen-Times)

Wolf Ridge Ski Resort in Madison County hopes to open by Sunday following weeks of warmer-than-expected weather. The resort will lose $100,000 in revenue if it's not able to open Christmas week, says Kathy Bogdanescu, group sales coordinator. The N.C. ski season typically runs from November-March and last year contributed $197.2 million to the state's economy, according to a recent report.

Teamsters rally to protest job losses at Eden brewery

December 16, 2015

(News & Record, Greensboro)

About 50 people turned out Tuesday for a rally protesting the planned closure of the MillerCoors plant in Eden. A local Teamsters group organized the rally. More than 500 people making an average salary of $60,000 will lose their jobs when the brewery shuts down next year ("Crying in their beer," November.)

High Point showroom operator withdraws plans for IPO

December 16, 2015

(Winston-Salem Journal)

International Market Centers on Monday withdrew its request for an initial public offering, citing "unaffordable market conditions." The real-estate investment group owns and operates showrooms totaling 6.7 million square feet in High Point and 5.4 million square feet in Las Vegas. It's the second time IMC has postponed the IPO.