Triangle

Cary's The Pantry nearing deal to be sold

December 17, 2014

(The Wall Street Journal)

Cary-based The Pantry, which operates more than 1,500 convenience stores primarily under the Kangaroo Express banner, has hired an investment bank to solicit bids for the company. A buyer could be announced within days, according to people familiar with the matter.

Salix announces revised inventory-reduction schedule

December 17, 2014

(The News & Observer, Raleigh)

Salix Pharmaceuticals announced it will accelerate a planned inventory reduction of three of its drugs. The Raleigh-based pharmaceutical, which makes treatments for gastrointestinal illnesses, will reduce inventories of three drugs by the end of 2015 – a year earlier than it had previously announced. Company shares rose 7% following the announcement.

Developers reject proposal to reroute pipeline in Johnston Co.

December 17, 2014

(The News & Observer, Raleigh)

Developers of the 538-mile Atlantic Coast Pipeline denied a request by Johnston County officials to reroute the proposed pipeline closer to an industrial park. The new route would have crossed 239 parcels instead of 163. Richmond-based Dominion Resources is developing the natural-gas pipeline in a joint venture with Duke Energy, Piedmont Natural Gas and Atlanta-based AGL Resources.

Cary partners with SAS on water-monitoring project

December 15, 2014

(WRAL TechWire)

Cary officials say the town will save an estimated $10 million a year through a new $17.9 million system that monitors water usage. Powered by locally-based SAS Institute, the system will provide residents with customized water-usage alerts and will help town officials identify abnormal spikes in water usage.

DA Davidson initiates coverage of Raleigh's Highwoods

December 15, 2014

(The News & Observer, Raleigh)

Analysts with investment firm D.A. Davidson have initiated coverage of Highwoods Properties, giving the Raleigh-based real-estate investment trust a "buy" rating and putting a 12- to 18-month target price of $50 on its stock.

Durham tech company creates code school to develop local talent

December 15, 2014

(The News & Observer, Raleigh)

Durham-based tech startup Smashing Boxes partnered with South Carolina-based The Iron Yard to start a software code school at American Underground's Durham campus. The website and app-development company's founders created the code school because of difficulty finding talented workers.

Triangle business group to raise funds to recruit international flights

December 12, 2014

(The News & Observer, Raleigh)

Triangle-based Regional Transportation Alliance plans to raise $500,000 over three years to help Raleigh-Durham International Airport recruit new nonstop flights to international destinations including Paris and Frankfurt. In October, RDU pledged $2.1 million in incentives to attract more international flights.

American Underground unveils economic-impact study

December 11, 2014

(WRAL TechWire)

Startups at American Underground's three Triangle locations created 323 new jobs over the past 12 months, according to a report the business incubator released on Wednesday. The study shows employees spent $674,700 at establishments in Durham and Raleigh. American Underground's 180 companies raised $20.7 million in funding over the past 12 months.

New developer for retail project at Raleigh's Crabtree Valley

December 11, 2014

(The News & Observer, Raleigh)

Lennar Commercial is the new lead developer for Carolina Row, a mixed-use development planned for 10 acres across from Raleigh's Crabtree Valley Mall. Trademark Property announced plans for the project – which will include up to 175 apartments and 150,000 square feet of retail space – in May. Lennar plans a grand opening for Carolina Row in the fourth quarter of 2016.

Durham's Parata Systems to lay off 110 workers

December 10, 2014

(The News & Observer, Raleigh)

Durham-based Parata Systems will lay off 110 workers over the next 90 days, according to a notice filed with the N.C. Department of Commerce. Parata makes drug-dispensing systems for pharmacies. The company expects to have about 250 employees as of March 1.

AT&T's gigabit Internet service now available in some areas

December 9, 2014

(WRAL TechWire)

AT&T has rolled out its GigaPower ultra-fast Internet service, which is 100 times faster than standard service, in four Triangle cities and Winston-Salem. The telecommunications provider plans to add the service in Durham, Charlotte and other North Carolina cities later.

Chapel Hill CEO killed in Maryland plane crash

December 9, 2014

(The News & Observer, Raleigh)

Michael Rosenberg, president and CEO of a Durham-based clinical research company, died Monday in a plane crash in Gaithersburg, Md. Rosenberg, who lived in Chapel Hill, founded Durham-based Health Decisions in 1989 and was a former manager at the National Centers for Disease Control and Prevention. Two other people on board the plane and three people on the ground also died in the crash.

42-acre mixed-use project near Crabtree Valley proposed

December 8, 2014

(The News & Observer, Raleigh)

Developers are planning a mixed-use infill project on 42 acres near Crabtree Valley in Raleigh. Plans for Glenwood Place, which would be co-developed by Raleigh-based Grubb Ventures and Charlotte-based Lincoln Harris, include a half-million square feet of offices, plus retail and apartments. The project could cost as much as $500 million to build.

Georgia-based engineering company moving HQ to Garner

December 8, 2014

(The News & Observer, Raleigh)

Conyers, Ga.-based Overland Contracting will move its corporate headquarters to Garner, where the company plans to invest $8.4 million and create 89 new jobs over three years. A subsidiary of Black & Veatch, Overland provides engineering, procurement and construction services for the energy, telecommunications and water industries.

 

Raleigh startup WedPics raises $4.25M

December 8, 2014

(WRAL TechWire)

Raleigh-based WedPics raised $4.25 million in a round of new funding and plans to increase its staff by 25%, according to CEO Justin Miller. Launched in 2012, the startup provides a mobile app that allows wedding guests to share photos ("Going to the chapels," September 2013).

Southern Pines' K2 Solutions could lay off 70 workers

December 5, 2014

(The Pilot, Southern Pines)

K2 Solutions, which trains dogs for military operations, could lay off as many as 70 of its 170 employees next month as military contracts that began in 2009 are expiring. Most of the layoffs will be at the company's Richmond County training center. The Southern Pines-based company's founder says the government is investing more in developing technological replacements for canines in the military.

Self-Help Credit Union opens first Triangle branch

December 5, 2014

(The News & Observer, Raleigh)

Self-Help Credit Union celebrated the grand opening of its first full-service branch in its hometown of Durham. The nonprofit community lender operates 20 branches across North Carolina.

Duke conference center to close for renovations

December 5, 2014

(The Herald-Sun, Durham)

Foodservice provider Aramark will close a conference center at Duke University's Fuqua School of Business for renovations in late January, affecting 67 employees. The center will reopen after 18 months.

 

GSK to cut 900 jobs at RTP

December 4, 2014

(The News & Observer, Raleigh)

London-based pharmaceutical company GlaxoSmithKline will cut 900 jobs at Research Triangle Park as part of a global corporate restructuring. Half of the affected employees will be offered jobs in a newly created business unit GSK is creating with Boston-based contract research organization Parexel. GSK employs 4,500 workers in RTP. Employees at a Zebulon manufacturing plant will not be affected by the cuts.

PPD founder Eshelman donates $100M to UNC

December 4, 2014

Fred Eshelman pledged $100 million to create a new research institute at UNC Chapel Hill's pharmacy school that bears his name. It's the largest individual donation the university has ever received. Eshelman founded Wilmington-based Pharmaceutical Product Development, which was sold in 2011 for $3.9 billion.