Triangle

Raleigh City Council to consider legalizing Airbnb

January 20, 2015

(The News & Observer, Raleigh)

At its Tuesday meeting, Raleigh City Council will consider whether to legalize online services such as Airbnb, which allows homeowners to rent their houses to travelers on a nightly basis. 

INC Research names first-ever president

January 20, 2015

(The News & Observer, Raleigh)

Alistair Macdonald was named the first president INC Research, the Raleigh-based contract research organization that went public in November. Macdonald has been chief operating officer since January 2013 and has been with the company since 2002. INC employs 5,400 people worldwide, including 850 in the Triangle.

Salix headquarters building sells for $27M

January 19, 2015

(The News & Observer, Raleigh)

The 127,000-square-foot Raleigh office building that is home to Salix Pharmaceuticals has sold for $27.45 million. Virginia-based Allegiancy acquired the property, which is off Six Forks Road near I-540.

Triangle companies raise $163.5M in venture capital funding

January 16, 2015

(The News & Observer, Raleigh)

Triangle companies raised $163.5 million in the fourth quarter, about 60% more than the amount raised in the prior three quarters combined. Two Durham-based companies, Viamet Pharmaceuticals and Phononic Devices, led a group of 13 companies, raising $60 million and $44.5 million respectively.

Concord Hospitality, Kane Realty to build 3rd hotel at Raleigh's North Hills

January 16, 2015

(The News & Observer, Raleigh)

Concord Hospitality Enterprises and Kane Realty will develop a 133-room AC Hotel at Raleigh's North Hills. It's the third hotel the Raleigh-based companies have partnered on at North Hills. The hotel is expected to open next year.

Kane Realty eyes Raleigh's warehouse district

January 15, 2015

(The News & Observer, Raleigh)

Raleigh-based Kane Realty filed a rezoning request for a 2.5-acre site in Raleigh's warehouse district currently owned by Dillon Supply. The North Hills developer is looking to redevelop the site into offices, apartments and retail shops. The property is located opposite Citrix's new regional headquarters, which was acquired last month by a New York real-estate firm for $68.5 million.

Durham business owners speak out against light-rail route

January 15, 2015

(The Herald-Sun, Durham)

Several business owners along Durham-Chapel Hill Boulevard say a proposed light-rail line next to the highway will have a negative impact on their business.

Hospira to close Clayton plant; 250 workers affected

January 14, 2015

(The News & Observer, Raleigh)

Lake Forest, Ill.-based Hospira plans to close its Clayton manufacturing plant in June, affecting 250 employees. The company will either discontinue making the four medical products produced at the Clayton plant, shift production to another location or to a third-party manufacturer, or sell them to another company. 

Beauty-products retailer closing Wake Forest center

January 14, 2015

(The News & Observer, Raleigh)

The Body Shop will close a customer-service center in Wake Forest where it employs 145 workers. About 10 affected employees will be offered jobs at a new planned U.S. headquarters in New York City or at offices in New Jersey. Owned by L-Oreal, United Kingdom-based The Body Shop makes and sells beauty and skin-care products at more than 3,000 stores worldwide.

ChannelAdvisor shares plummet 54%

January 14, 2015

(The News & Observer, Raleigh)

Shares of Morrisville-based ChannelAdvisor fell 54% Tuesday as seven analysts downgraded their ratings on the e-commerce company's stock. The company reported on Monday that fourth quarter revenue would be about $23.7 million, less than the $25.6 million to $26.1 million it had previously projected.

Lenovo considers spinoff of mobile-device unit amid increased competition in China

January 14, 2015

(WRAL TechWire)

Lenovo CEO Yang Yuanqing said he is considering spinning off a new unit focused on selling mobile devices in China. Announced in October, the unit is supposed to go live in April. 

Durham-based Cree files patent-infringement suits

January 13, 2015

(The News & Observer, Raleigh)

Durham-based Cree filed complaints against California-based Feit Electric and its Taiwanese supplier, Unity Opto Technology, alleging Feit's LED lightbulbs infringe on 10 Cree patents. Cree, which sells its LED bulbs exclusively at Home Depot stores, also accused Feit of false advertising, claiming some of Feit's bulbs fail to meet federal Energy Star standards.

Chimerix patent extended until 2034

January 13, 2015

(The News & Observer, Raleigh)

Durham-based Chimerix was awarded a 20-year patent for brincidofovir, an antiviral drug that is being tested on Ebola patients in clinical trials. Following the announcement, an analyst at William Blair & Co. increased the target price of the drug developer's stock from $46 to $53. Chimerix shares have increased 134% over the past year.

Announcement expected on Raleigh's Dorothea Dix property

January 12, 2015

(The News & Observer, Raleigh)

A press conference on the future of the Dorothea Dix property in Raleigh is scheduled for Monday, according to a post on state Rep. Duane Hall's Twitter account. Civic leaders have led a push to redevelop the 308-acre former psychiatric hospital campus into a destination park, however city and state officials have been unable to negotiate a deal.

Capitol Broadcasting buys Burt's Bees HQ for $14M

January 12, 2015

(The News & Observer, Raleigh)

An affiliate of Capitol Broadcasting paid more than $14.3 million for the 71,000-square-foot building in American Tobacco Campus where personal-care products manufacturer Burt's Bees has been based since 2009. Capitol Broadcasting has invested more than $200 million renovating buildings on the old tobacco campus into an office, residential and entertainment complex (Cover Story, December).

Argos Therapeutics shares fall sharply

January 12, 2015

(The News & Observer, Raleigh)

Durham-based Argos Therapeutics reported disappointing drug trial results for an experimental HIV drug, and shares fell 32% on Friday.

Rex Healthcare names interim president

January 9, 2015

(The News & Observer, Raleigh)

Rex Healthcare named Steve Burriss interim president, effective immediately. He replaces David Strong, who will become CEO of Orlando Health in Florida. Burriss has worked for Rex since 1998; his positions have included VP of operations and ambulatory services.

Chapel Hill's Cempra expects to raise $120M in stock offering

January 9, 2015

(The News & Observer, Raleigh)

Chapel Hill-based Cempra expects to receive $120.6 million in net proceeds from a secondary stock offering. The pharmaceutical company said it plans to sell 5.25 million shares at $24.50 each.   Cempra previously said it planned to sell about $100 million of common stock.

Moore County mulls first jobs incentive program

January 9, 2015

(The Pilot, Pinehurst)

The Moore County Board of Commissioners is considering its first grant program for recruiting jobs and industry. The board could consider guidelines for the incentive program at its Feb. 3 meeting.

UNC Chapel Hill tied for No. 1 in online MBA ranking

January 8, 2015

(The News & Observer, Raleigh)

UNC Chapel Hill tied with two other schools for the No. 1 spot on U.S. News & World Report's inaugural ranking of online MBA programs. Indiana University and Temple University shared the top spot. N.C. State University's online MBA program, launched in 2011, was No. 9.