Triangle

SAS continues streak of annual revenue growth

February 2, 2016

(The News & Observer, Raleigh)

Cary-based software company SAS Institute reported 2.3% revenue growth in 2015 to $3.16 billion. The company has posted annual revenue growth every year since it was founded in 1976. SAS added more than 1,800 new customers last year. Sales of risk software, which helps customers detect and minimize fraud, rose 17%.

UNC REX names new COO

February 2, 2016

(The News & Observer, Raleigh)

Susan Sandberg, 55, was named chief operating officer at Raleigh-based UNC Rex Healthcare, filling a position vacated 10 months ago by Steve Burriss, who was promoted to president. Sandberg comes from Community Health Network, an Indianapolis system with eight hospitals and 12,000 employees.

Blue Cross predicts ACA losses will top $400 million

February 1, 2016

(The News & Observer, Raleigh)

The state's largest health insurer is projecting a combined loss of more than $400 million on Affordable Care Act customers in 2014 and 2015. Blue Cross and Blue Shield said it is eliminating agents' sales commissions on ACA plans and will stop advertising the policies.
Also: Insurance companies struggle financially as ACA deadline looms

Former UNC president begins Duke fellowship

February 1, 2016

(The News & Observer, Raleigh)

Tom Ross was named the first Terry Sanford Distinguished Fellow at Duke University's Sanford School of Public Policy, where he will work on changing the way political district boundaries are drawn. Ross, who stepped down as president of the UNC system in January, plans to return to UNC Chapel Hill as a member of the faculty after a one-year sabbatical.

Construction to begin on 27-story tower in downtown Durham

January 29, 2016

(The News & Observer, Raleigh)

Construction on the 27-story City Center building will begin Feb. 15 and is expected to take 27 months. The skyscraper will include 21 floors of residences, 155,000 square feet of office space and ground-floor retail. Austin Lawrence Partners is the developer of the $70 million project.

Yadkin Financial Q4 earnings rise 15%

January 29, 2016

(The News & Observer, Raleigh)

Yadkin Financial posted fourth-quarter net operating earnings of $12.6 million, or 40 cents a share, missing analysts' estimates by a penny. (The figure excludes merger costs and other income and expense items.) The Raleigh-based bank expects to close on its $456 million acquisition of Greensboro's NewBridge Bank by the end of March.

CSX not scrapping plans for cargo hub

January 28, 2016

(The News & Observer, Raleigh)

CSX said Wednesday it is still committed to building a $272 million container hub along Interstate 95, despite Gov. Pat McCrory changing his stance on the project that he originally promoted as a boon for economic development in eastern N.C.
Also: Wayne chasing CSX terminal after Johnston site rejected

Biogen reports strong Q4 results

January 28, 2016

(The News & Observer, Raleigh)

Biogen shares closed at $273.26 on Wednesday, up 5.2% after the drugmaker reported fourth quarter sales of $2.84 billion, up 7.5%. Sales for all of 2015 were $10.76 billion, a 10.9% increase over the previous year. The Cambridge, Mass.-based company employs more than 1,200 people in the Triangle.

Report: Durham ranks 4th in VC funding per capita

January 27, 2016

(ExitEvent.com)

When it comes to overall venture-capital funding, North Carolina still lags far behind other states with strong technology sectors. But a new report shows that Durham attracts $475 in venture capital per resident, behind only San Jose, Calif. ($2,146), San Francisco ($1,415) and Boston ($665). Greensboro, the only other North Carolina city on the list, ranked 15th with $97 per capita. The report, from The Atlantic CityLab, was based on Thomson Reuters data from 2012.

Xerox lays off 178 in Cary

January 27, 2016

(The News & Observer, Raleigh)

Xerox Commercial Services is closing a unit in its Cary call center, resulting in 178 job cuts. The layoffs are expected to occur in March. Xerox employs more than 1,600 people in Cary.

McCrory: Johnston County site not a viable option for rail hub

January 27, 2016

(The News & Observer, Raleigh)

Gov. Pat McCrory's office said Tuesday the proposed site for a CSX railroad hub in Johnston County may not be a viable option. A spokesman for McCrory said the state will continue to work with CSX to find an alternative site. CSX announced the $272 million project last week, though some landowners don't want to sell their properties to the Jacksonville, Fla., company, which could forcibly purchase the land through the power of eminent domain.

Meanwhile, officials in Wayne County say residents would support a CSX intermodal rail yard either within its borders or in nearby Johnston County.

Wilmington Chamber supports controversial CSX project

January 26, 2016

(Greater Wilmington Business Journal)

The Wilmington Chamber of Commerce issued a statement supporting the proposed CSX intermodal freight hub near Interstate 95 in Johnston County, citing potential benefits to the ports and Eastern N.C. businesses that use them. Johnston County commissioners have said they support the $272 million project, though they are urging CSX to seek an alternative site after some landowners objected to selling their properties to the rail company.

Coty to invest $19M in Sanford plant

January 25, 2016

(The Fayetteville Observer)

Beauty-products manufacturer Coty plans to add 25 jobs and invest $19 million at its plant in Lee County, where the company employs more than 750 people, plus several hundred contractors. New York-based Coty announced in July it is acquiring 43 of Procter & Gamble's beauty and cosmetics brands for $12.5 billion.

CEO of Durham's Carolina Theatre resigns

January 25, 2016

(The News & Observer, Raleigh)

Bob Nocek resigned Friday as president of Durham's Carolina Theatre. Last month, the board discovered that the organization was more than $1 million in debt, $800,000 more than it had previously realized. Nocek has led the nonprofit since 2010.

Utah company buys Southern Pines marketing agency

January 25, 2016

(The Pilot, Southern Pines)

Utah-based Clearlink has acquired buyCalls, a marketing agency based in Southern Pines. The company will operate as a division of Clearlink and will remain in Southern Pines. Clearlink has more than 1,200 employees; brand partners include ADT, AT&T, Progressive and Verizon.

Former Microsoft exec named Citrix CEO

January 22, 2016

(The News & Observer, Raleigh)

Kirill Tatarinov, 51, will become president and CEO of Citrix Systems on Monday. He replaces interim CEO Robert Calderoni, who has been filling in since N.C. State grad Mark Templeton retired in October. Tatarinov was executive vice president of Microsoft's business solutions division from July 2007 to July 2015. Citrix, which acquired Raleigh's ShareFile in 2011, employs about 600 in downtown Raleigh.

CSX project faces opposition from landowners

January 21, 2016

(The News & Observer, Raleigh)

Jacksonville, Fla.-based CSX plans to build a $272 million container hub on 450 acres in Johnston County, but some landowners are telling the railroad giant their properties aren't for sale. State law allows private railroad companies such as CSX the power of eminent domain, which means they can forcibly take land for a fair-market price.
Also: Johnston County commissioners oppose CSX cargo hub plans

Raleigh's Capital Bank could move HQ to Charlotte

January 21, 2016

(The Charlotte Observer)

Capital Bank is considering relocating its headquarters to the Queen City after regulators approve its proposed $350 million acquisition of Charlotte's CommunityOne Bancorp. Capital Bank will have nearly $10 billion in assets when the deal closes, expected to be in the first quarter.

Wegmans to open first NC grocery store

January 20, 2016

(The News & Observer, Raleigh)

Wegmans Food Markets, an 88-store chain based in Rochester, N.Y., plans to open its first North Carolina store in Cary. Consumer Reports ranked Wegmans, which has stores in New York, Massachusetts and across the Mid-Atlantic region, the No. 1 supermarket in the U.S. in 2015. The grocer earned high marks for produce, freshness, baked goods and overall shopping experience.

Durham's Clinverse bought by Pennsylvania company

January 20, 2016

(The News & Observer, Raleigh)

Clinverse, a Durham-based software company with about 60 employees, has been acquired by Bioclinica, a privately held Pennsylvania pharmaceutical-services company with about 2,000 employees, for an undisclosed amount. Clinverse's cloud-based software is used by drug companies and CROs.