Business

IBM begins layoffs at RTP, workers say

March 3, 2016

(WRAL TechWire)

Posts on a Facebook site that serves as a forum for IBM workers show that the tech giant has begun issuing layoff notices to workers in Research Triangle Park and other U.S. locations. According to the site, the cuts were in IBM's cloud unit. A company spokesperson declined to comment.

Duke Energy cutting 900 jobs

March 3, 2016

(The Charlotte Observer)

The utility said most of the job cuts will be voluntary departures and most will be in the Carolinas, where Duke employs more than 18,000 people. The cuts are part of a cost-cutting initiative outlined in Duke's annual report.

Asheville's Tupelo Honey heading to Colorado

March 3, 2016

(Asheville Citizen-Times)

Tupelo Honey will open a restaurant in Denver, its first location outside the Southeast. The chain, started in Asheville in 2000, opened four new stores last year and has another planned in Atlanta this year.

Cancer care pays off for famed Raleigh investor

March 3, 2016

A Cary-based cancer-drug supplier was among two companies fetching $1.2 billion from McKesson Inc., a big health care products distributor. The sale marked a payday for Raleigh investor James Maynard, best known for his Golden Corral restaurant chain.

4 Triangle universities team up to boost startup funding

March 3, 2016

(WRAL TechWire)

Duke, UNC Chapel Hill, N.C. State and N.C. Central are forming the Triangle Venture Alliance, which will work with alumni to establish a network of angel investors for startups. The alliance has received a $250,000 federal grant to kickstart the effort.

Greensboro developer plans downtown skyscraper

March 3, 2016

(News & Record, Greensboro)

Greensboro developer Roy Carroll has completed the purchase of a downtown lot where he is planning an $80 million project that could include retail space, a hotel and offices.

Judge dismisses lawsuit against Pappas

March 3, 2016

(The News & Observer, Raleigh)

A Superior Court judge dismissed a lawsuit filed against A.M. Pappas & Associates by former Chimerix CEO Kenneth Moch. Moch's lawsuit contended he was the victim of an "extortion scheme" after the Durham venture-capital firm filed a libel lawsuit against Moch, claiming he sent disparaging emails to Pappas' investors. That case is still active.

Triangle CROs ramp up hiring, compete for workers

March 2, 2016

(The News & Observer, Raleigh)

Quintiles, INC Research and PRA Health Sciences added more than 5,000 workers worldwide last year, including several hundred in North Carolina, as biotechs and pharmas are discovering they can save money by outsourcing clinical trials and other services to contract-research organizations.

NC State alumnus gives $1M to launch startup fund

March 2, 2016

(WRAL TechWire)

Robert "Chip" Andrews and his wife, Lyn, have donated $1 million to launch a fund for entrepreneurs at N.C. State University. Additionally, an accelerator program is planned. Andrews is former CEO and chairman of FMI Corp. and is on the board of trustees at N.C. State.

Honeywell drops bid for United Technologies

March 2, 2016

(The Charlotte Observer)

Honeywell is walking away from its $90 billion offer to buy Connecticut-based United Technologies, which employs about 500 in the Charlotte region. The aerospace company had rejected the offer last week, saying the deal would never be cleared by antitrust regulators.