Business

Triangle startups raise less money in first quarter

April 18, 2014

(The News & Observer, Raleigh)

Triangle startups raised $32.1 million in the first quarter, down sharply compared with more than $100 million raised in the last quarter of 2013. Seven companies from the area went public last year, which may have contributed to the decline in venture capital raised. Only two companies out of eight companies who raised venture capital in the quarter raised $10 million or more.

Zelnak to step down as chairman at Martin Marietta

April 18, 2014

(The News & Observer, Raleigh)

Stephen Zelnak will step down as chairman of Raleigh-based Martin Marietta Materials on May 22. The former chief executive will continue to serve on the board; CEO Ward Nye will become chairman.

Durham's OrgSpan to be acquired by Indianapolis software company

April 18, 2014

(The News & Observer, Raleigh)

Durham-based business software company OrgSpan will be acquired by Indianapolis-based Interactive Intelligence Group for an undisclosed amount. OrgSpan's 40 employees will remain in Durham after the deal closes, which should be within 30 days.

McCrory announces oversight plan for Duke Energy's ash ponds

April 17, 2014

(The News & Observer, Raleigh)

Gov. Pat McCrory plans to ask state legislators for broader authority over the handling of coal-ash at Duke Energy's 33 ash ponds in North Carolina. McCrory, a former Duke Energy employee, wants site-specific plans that would remove ash from some ponds while leaving others drained and capped and would require more frequent inspections. 

IBM reports eighth straight quarter of revenue decline

April 17, 2014

(WRAL.com)

Armonk, N.Y.-based IBM reported first quarter net income of $2.4 billion, down 21% from the same period a year ago, due to slumping hardware sales. Revenue fell for the eighth consecutive quarter to $22.5 billion. The company reported slight growth in its software sales and technology services segments. IBM employs approximately 8,000 workers at Research Triangle Park.

N.C. State to lead $25 million nuclear proliferation study

April 17, 2014

(The News & Observer, Raleigh)

N.C. State University was awarded a federal grant to lead a $25 million consortium of universities and laboratories in studying ways to monitor nuclear proliferation. The National Nuclear Security Administration announced the grant Wednesday. It is the third large federal grant the university has received over the past eight months.

Cameron returns as CEO of Reynolds American

April 17, 2014

(The Charlotte Observer)

Reynolds American has named board member Susan Cameron chief executive officer effective May 1. She previously served as CEO of the Winston-Salem-based tobacco company from 2004 to 2011 before she retired. Cameron will replace Daniel Delen who is retiring.

Moog Music CEO hopes festival will promote Asheville as creative place to work

April 17, 2014

(Asheville Citizen-Times)

Moog Music CEO Mike Adams hopes this month's Moogfest festival will help visitors see Asheville as a place to work creatively. The five-day electronic music festival that will add a technology expo this year is being likened to a smaller version of the South by Southwest festival in Austin, Texas. Gov. Pat McCrory will be in Asheville to kick off Moogfest, which begins April 23.

Charlotte one of four cities to bid on hosting ACC baseball tournament

April 17, 2014

(The Charlotte Observer)

Charlotte joins Durham, Greensboro and Winston-Salem in submitting a bid to host the ACC baseball tournament beginning in 2015. This year's tournament will be held May 20-25 at Greensboro's NewBridge Bank Park. League officials could decide by mid-May which city will host the next four tournaments.

Raleigh approves AT&T's gigabit Internet service

April 17, 2014

(The News & Observer, Raleigh)

Raleigh City Council approved an agreement that will allow AT&T to bring gigabit Internet service there. AT&T also wants to bring its ultra high-speed service to Carrboro, Cary, Chapel Hill, Durham and Winston-Salem. Those cities must also approve the deal before installation of the new fiber network begins.