Business

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.

Yadkin, NewBridge complete merger

March 2, 2016

(Greater Wilmington Business Journal)

Raleigh-based Yadkin Financial completed its acquisition of Greensboro's NewBridge Bank, creating a combined company with assets of $7.3 billion and 110 branches in the Carolinas.

Asheville's Biltmore Park a boon for South Buncombe

March 2, 2016

(Asheville Citizen-Times)

Retail space is 90% full, while office space is 95% full at the 10-year-old, 1,000-acre Asheville development owned by Biltmore Farms. The company owns an adjacent 100 acres for future development. The area includes 650 single-family homes, 120 apartments and 72 condos. About 2,000 people live and work in the 43-acre Town Square, an urban village that is the commercial core of Biltmore Park.

Charlotte-based Siemens exec to retire

March 2, 2016

(The Charlotte Observer)

Mark Pringle, vice president of Siemens' Charlotte Energy Hub, will retire March 31. The Charlotte plant has undergone a $350 million expansion and its workforce has doubled since Pringle, a Pittsburgh native, took over management in 2003.

Duke Energy gets approval for new Asheville power plant

March 1, 2016

(Asheville Citizen-Times)

The state Utilities Commission approved Duke Energy's $1 billion plan to build two natural-gas turbines to replace its coal-burning units at Lake Julian near Asheville. The commission rejected Duke's request to build a third unit, though the utility could seek approval for that project at a later date.

Chimerix slashes 20% of workforce after failed drug trials

March 1, 2016

(The News & Observer, Raleigh)

Durham-based drug developer Chimerix said it is refocusing development efforts for brincidofovir, its experimental antiviral treatment, after recent failed clinical trials. The company reported a $37.8 million fourth-quarter loss and plans to cut 20% of its workforce of about 130. Shares of Chimerix's stock are down 87% since Christmas.

BB&T headquarters building is potential forfeiture target

March 1, 2016

(Winston-Salem Journal)

BB&T's Winston-Salem headquarters building was listed among potential forfeiture targets if co-owner Ty Rhame is convicted in an international money-laundering scheme. An attorney for co-owner Ray Gee — who is not involved in the case — said Rhame's indictment won't affect short or long-term operation of the building. Gee and Rhame paid $60 million for the building in 2014.

CLT adding new concourse, part of $2.5B expansion plan

March 1, 2016

(The Charlotte Observer)

Charlotte Douglas International Airport began demolishing old rental-car buildings to make way for a new concourse, a $200 million project that will add nine gates for non-American Airlines traffic. Its part of a $2.5 billion plan that includes adding a fourth runway, a lobby expansion, a taller control tower and even more gates.