Triangle
Chinese firm to purchase Smithfield Foods
May 30, 2013
(The News & Observer, Raleigh)
Virginia-based pork producer Smithfield Foods, one of North Carolina's largest employers, will be acquired by Chinese firm Shuanghui International Holdings for $4.7 billion, pending regulatory approval. About 10,000 of the company's 46,000 employees are in North Carolina.
Cempra wins $58M government contract
May 29, 2013
(The News & Observer, Raleigh)
Chapel Hill-based drug developer Cempra won a five-year government contract worth up to $58 million government for research of its experimental antibiotic that could be used to treat infections in children and infections caused by bioterrorism. The contract guarantees $17.7 million over two years.
N.C. manufacturers adapt to stay competitive
May 28, 2013
(The News & Observer, Raleigh)
Manufacturing still makes up 20% of North Carolina's gross domestic product, but manufacturers in the state have to constantly adapt to sustain profitability. Increasing efficiency and reducing inventory are key changes.
Electric-car maker fights N.C. bill
May 28, 2013
(Associated Press)
Electric-car maker Tesla is striking back against a bill that would stop it from selling to North Carolinians by banning car manufacturers from directly selling to consumers online.
Two more Triangle companies go public
May 24, 2013
(The News & Observer, Raleigh)
Two Triangle companies — Cary-based home-exterior products supplier Ply Gem Holdings and Morrisville-based e-commerce company Channel Advisor — went public Thursday, bringing the total number of companies in the region that have gone public to five for the year.
RTP office park up for auction
May 23, 2013
(The News & Observer, Raleigh)
GE Asset Management will auction off its 70-acre office park within Research Triangle Park next month. It originally paid $65 million for the site, which is now only 10% leased, but is considered key in redevelopment efforts for RTP.
NetApp to lay off workers at RTP
May 22, 2013
(The News & Observer, Raleigh)
Data storage company NetApp is laying off 900 workers across the U.S., and an undisclosed number will come from its 1,500-employee operation in Research Triangle Park. The company must retain 1,450 in RTP to receive incentive payments.
N.C. Senate plan would defund Rural Economic Development Center
May 21, 2013
(The News & Observer, Raleigh)
Part of the budget proposed by the state Senate this week would strip the Rural Economic Development Center of its state funding, which amounted to $16.6 million last year, and create a division in the Department of Commerce to oversee rural economic development.
Downtown Durham picks new leader
May 21, 2013
(The Herald-Sun, Durham)
Downtown Durham Inc. named Geoffrey Durham its new president and CEO. He replaces Bill Kalkhof, who retired last month after 20 years leading the booster group.
BCBS losing influence in legislature
May 20, 2013
(The News & Observer, Raleigh)
Blue Cross Blue Shield of North Carolina has apparently lost some clout in the General Assembly this year, with several bills, such as one that requires the health insurer to cover more services for autistic people, passing despite the company's lobbying.
Triangle companies pursue job candidates aggressively
May 20, 2013
(The News & Observer, Raleigh)
Despite a relatively high unemployment rate, companies in the Triangle that are hiring, such as Citrix, MetLife, LexisNexis and Red Hat, face a competitive recruitment process and are aggressively pursuing job candidates.
House Republicans offer more conservative tax reform proposal
May 17, 2013
(The News & Observer, Raleigh)
House Republicans unveiled their plan to cut corporate and personal income taxes in the state and expand the sales tax base, but the proposal is less sweeping than one from Senate Republicans. For example, House Republicans don't plan to tax food and prescriptions as in the Senate proposal.
Syngenta greenhouse brings advances to RTP
May 17, 2013
(The News & Observer, Raleigh)
Syngenta's new $72 million greenhouse will have its grand opening Friday, and the building is being touted for its ability to channel sunlight into rooms that have distinctly different uses, giving the company the ability to mimic conditions in any part of the world.
Raleigh developer proposes 224-unit apartment complex in city
May 15, 2013
(The News & Observer, Raleigh)
A Raleigh developer wants to build a 224-unit apartment complex and parking deck near downtown, another sign of an improving residential real estate market.
Morrisville office building illustrates improving Triangle market
May 14, 2013
(The News & Observer, Raleigh)
Duke Realty is constructing a new office building in a Morrisville office park, and the company has preleased about half of the space, highlighting the growing and rebounding demand in the Triangle commercial real estate market.
Cary company hopes to use IPO proceeds to pay down debt
May 14, 2013
(Associated Press)
Cary-based Ply Gem Holdings stated in securities filings Monday it plans to sell its shares between $18 and $20 during an initial public offering and plans to use the proceeds to pay back debt and for general corporate purposes.
Durham newspaper to sell building
May 14, 2013
(The Herald-Sun, Durham)
The (Durham) Herald-Sun plans to sell its 23-year-old building in the city and lease or build a smaller office. The newspaper also plans to erect a pay wall for content.
Chimerix posts wider loss but analysts optimistic
May 14, 2013
(The News & Observer, Raleigh)
Durham drug developer Chimerix posted a quarterly loss of $9.1 million, larger than the year before, but analysts continue to be optimistic about the prospects of the company, which has several promising drugs in its pipeline. Chimerix went public last month.
Senate passes bill to make hospital bills more transparent
May 10, 2013
(The News & Observer, Raleigh)
The state Senate passed a bill that would require hospitals to post the prices for 100 common procedures online. The bill also would mandate that hospitals list how much large insurers, Medicaid, Medicare and the uninsured pay for the procedures.
Quintiles has strong first day of trading
May 10, 2013
(The News & Observer, Raleigh)
Pharmaceutical-services giant Quintiles posted a 5% gain at closing on its first day trading on the New York Stock Exchange. The Durham-based company raised about $950 million.
