Triangle

State may not follow if Congress extends unemployment benefits

January 9, 2014

(The News & Observer, Raleigh)

If Congress decides to extend federal unemployment benefits, it will be up to Gov. Pat McCrory to decide whether or not to make those benefits available to unemployed workers who have exhausted their state-funded benefits.

Gannotta leaving Duke Raleigh for Chicago position

January 9, 2014

(The News & Observer, Raleigh)

The president of Duke Raleigh Hospital is leaving the 186-bed health care center to lead 894-bed Northwestern Memorial Hospital in Chicago. Richard Gannotta joined Duke Raleigh as chief operating officer in 2006 and became president in 2013. 

Durhams Quintiles unveils new free app for medication reminders

January 9, 2014

(The News & Observer, Raleigh)

Durham-based Quintiles introduced a new free app for its MediGuard medication monitoring system. Users can schedule hourly, daily or weekly reminders to take pills, and the app also displays information about potential side effects of drugs. 

Lindenmuth named interim CEO of new state economic development agency

January 8, 2014

(The News & Observer, Raleigh)

Richard Lindenmuth began Tuesday as interim CEO of the nonprofit Economic Development Partnership of North Carolina, a private agency established to handle new business recruitment and marketing of the state's tourism, film and sports industries. Lindenmuth co-founded and remains partner in a Raleigh management consulting firm that specializes in corporate restructuring and crisis management. 

Legislators opposed to state renewables law not deterred by 2013 bill's failure

January 8, 2014

(The News & Observer, Raleigh)

Legislators who failed to pass a bill to repeal the state's renewable energy standard, which offers subsidies for green energy projects, may commission a study on how the subsidies impact energy costs. Republican Rep. Mike Hager of Rutherfordton, co-chair of the Joint Legislative Commission on Energy Policy, said he sees the subsidies as an impediment to economic growth and job recruitment for the state.

Lindenmuth named interim CEO of new state economic development agency

January 8, 2014

(The News & Observer, Raleigh)

Richard Lindenmuth began Tuesday as interim CEO of the nonprofit Economic Development Partnership of North Carolina, a private agency established to handle new business recruitment and marketing of the state's tourism, film and sports industries. Lindenmuth co-founded and remains partner in a Raleigh management consulting firm that specializes in corporate restructuring and crisis management. 

Pinehurst restaurants gearing up for U.S. Open weeks

January 7, 2014

(The Fayetteville Observer)

Pinehurst area restaurants already have begun taking reservations during the back-to-back U.S. Opens to be held there in June, and at least one restaurant owner expects to be fully booked by April.

Lee County approves loan incentive for Fitzpak expansion

January 7, 2014

(The Sanford Herald)

Lee County commissioners approved a loan incentive of $150,000 for New Jersey-based Fitzpak Inc. to expand, investing $4 million in new machinery and creating 50 jobs at a plastic-packaging plant. The city of Sanford will hold a hearing on a $40,000 grant for Fitzpak at its meeting Tuesday.

McCrory defends DHHS leader, says mailing mistake due to programming error

January 7, 2014

(The News & Observer, Raleigh)

After nearly 50,000 children's insurance cards were inadvertently mailed to the wrong addresses last week, Gov. Pat McCrory stood by state Department of Health and Human Services Secretary Aldona Wos, blaming the mix-up on a computer programming error and saying the department was troubled when he took office a year ago and needs more time to be fixed.

Advanced Auto Parts acquires Raleigh's General Parts for $2 billion

January 6, 2014

(The News & Observer, Raleigh)

Roanoke, Va.-based Advance Auto Parts completed its $2.04 billion acquisition of Raleigh's General Parts International, creating the largest automotive-parts provider in North America. General Parts employs about 500 in Raleigh; the new company plans to keep a presence there.

Durham commercial bank acquires California financial services firm

January 6, 2014

(The Herald Sun, Durham)

Durham-based Square 1 Bank, a commercial bank which serves venture capitalists and entrepreneurs, has acquired Sand Hill Finance, a firm based in California's Silicon Valley that provides accounts receivable financing solutions.

Demand for craft beers drives sales upward at Raleigh distributor

January 6, 2014

(The News & Observer, Raleigh)

Mims Distributing, established wholesaler of Miller beer in the Triangle area, saw an 8% sales increase in 2013 which the company attributes to the expansion of its offerings of high-end craft beers.

First Citizens completes acquisition of Mountain 1st Bank

January 3, 2014

(The News & Observer, Raleigh)

First Citizens Bank finalized its acquisition of Hendersonville-based Mountain 1st Bank, gaining a dozen retail branches in Western N.C. The Raleigh-based bank paid $10 million for Mountain 1st, but $8 million of that was designated to repay funds it received in the TARP federal bailout.

Raleigh's Salix Pharmaceuticals completes purchase of San Diego drug company

January 3, 2014

(The News & Observer, Raleigh)

Raleigh-based Salix Pharmaceuticals has completed its $2.6 billion acquisition of San Diego-based Santarus. Both companies focus on sales of pharmaceuticals to treat gastrointestinal ailments; the deal gives Salix a total portfolio of 22 drugs.

Walgreen bought Kerr Drug for $173 million

December 31, 2013

(The News & Observer, Raleigh)

Deerfield, Ill.-based Walgreen Co. disclosed it paid $173 million for Raleigh-based Kerr Drug, a deal in which it acquired all 76 of Kerr's retail drugstores. When the acquisition was completed last month, Walgreen said it was closing 20 of Kerr's retail outlets, while the rest will convert to Walgreens.

Durham's BioCryst Pharmaceuticals receives more federal funds for Marburg virus treatment

December 31, 2013

(The News & Observer, Raleigh)

BioCryst Pharmaceuticals announced it received an additonal $2.5 million in federal funding for its efforts to develop a treatment for Marburg virus disease. The National Institute of Allergy and Infectious Diseases awarded the Durham drug development company $5 million in September.

State tax overhaul goes into effect Jan. 1

December 30, 2013

(The News & Observer, Raleigh)

Major state tax changes will take effect Wednesday, including a lower 5.8% flat rate for personal income tax and an expansion of the state sales tax to include service contracts.

WakeMed, Duke receive Medicare approval for profit-sharing programs

December 24, 2013

(The News & Observer, Raleigh)

WakeMed Key Community Care and Duke Connected Care are among seven accountable-care organizations in North Carolina approved by Medicare to launch health-care management systems that will monitor patients after they leave the hospital, reducing unnecessary hospital visits and medical services.

Raleigh's Highwoods trims portfolio by selling $88.8 million in assets

December 23, 2013

(The News & Observer, Raleigh)

Raleigh real estate investment trust Highwoods Properties has sold $88.8 million of its assets, including eight buildings in Greenville, S.C. and its ownership stake in a Cary apartment complex.

Court rejects Novant's bid to build Wake County hospital

December 20, 2013

(The News & Observer, Raleigh)

The N.C. Court of Appeals has denied Winston-Salem-based Novant Health's application to build a hospital in Holly Springs. The ruling upholds the N.C. Department of Health & Human Services' 2012 decision to allow Raleigh-based Rex Healthcare to build a 50-bed hospital there. A spokeswoman said Novant is deciding whether or not to appeal the decision.