Triangle

VantageSouth and Yadkin Bank to form state's largest community bank

January 28, 2014

(The News & Observer, Raleigh)

Raleigh-based VantageSouth Bank and Yadkin Bank will merge, creating the state's largest community bank with more than 70 branches and $4 billion in assets. VantageSouth CEO and president Scott Custer will lead the combined bank; the holding company's headquarters will be in Raleigh while the the banking business will be in Statesville.

Martin Marietta to acquire construction supply company

January 28, 2014

(The New York Times)

Raleigh-based Martin Marietta Materials has agreed to acquire Texas Industries, a construction supply company, in an all-stock deal valued at more than $2 billion. 

Chatham EDC launches website to market megasite

January 28, 2014

(The Winston-Salem Journal)

An economic development group has launched a new website to promote a megasite it hopes will attract a major automotive manufacturer. The website, www.chathamrandolphmegasite.com, created by the Chatham Economic Development Corp., provides maps, photos and details of the 1,774-acre site.

Campbell University to offer nursing degree program

January 28, 2014

(The Fayetteville Observer)

Campbell University received state approval to begin a nursing program beginning fall 2014. The new program, which will offer a bachelor of science degree, is expected to help alleviate nursing shortages in the region, where there are currently more than 1,000 nursing jobs open. 

Stock soars for Raleigh's BioDelivery Sciences after positive results for drug trial

January 27, 2014

(The News & Observer, Raleigh)

Shares of Raleigh-based BioDelivery Sciences International rose more than 50% Friday after the company reported positive clinical trial results for an experimental pain treatment. The stock price of the specialty pharmaceutical company is up 121% over the past year.

IBM deal will double Lenovo's NC workforce

January 24, 2014

(The News & Observer, Raleigh)

When Lenovo completes its acquisition of IBM's x86 server business, it will grow its global workforce by 7,500 and nearly double its North Carolina employment. Lenovo expects the deal to close in six to nine months, pending regulatory approval.

State names new public health director

January 24, 2014

(The News & Observer, Raleigh)

Penelope Slade-Sawyer will be the new director of the state Division of Public Health, replacing Dr. Laura Gerald who resigned last July. Slade-Sawyer is currently an assistant surgeon general at the U.S. Department of Health and Human Services; she will assume her new role on March 3.

IBM planning $1 billion round of first-quarter job cuts

January 23, 2014

(The News & Observer, Raleigh)

The CFO of IBM said the company will allocate $1 billion for first-quarter job cuts, the same amount the company allocated last year when it laid off an estimated 3,000 workers across North America, including an undisclosed number in Research Triangle Park. 

Lenovo to buy part of IBM's server business for $2.3 billion

January 23, 2014

(The News & Observer, Raleigh)

Lenovo Group will buy IBM's x86 server business for $2.3 billion, moving its global ranking from No. 6 to No. 3 in the server business. The China-based company, which has its North American headquarters in Research Triangle Park, bought IBM's PC business in 2005 and is now the world's No. 1 PC-maker though it has been expanding its smartphone and tablet divisions.

Cary's SAS reports $3 billion in revenue for 2013

January 23, 2014

(The News & Observer, Raleigh)

Cary-based software company SAS will announce today 2013 revenue of $3.02 billion, up 5.2% over the previous year. The company, which employs 13,814 workers worldwide including more than 5,000 in Cary, has experienced revenue growth every year since it began 38 years ago.

State awards pay increases to in-demand workers

January 23, 2014

(The News & Observer, Raleigh)

A relatively small number of state employees will receive salary increases of up to 10% in an attempt to reduce employee turnover in high-demand jobs. Among the 3,221 employees who will receive pay raises are nurses, law enforcement officers, accountants and computer specialists. Overall, the state employs about 90,000 people.

 

Evalueserve to open knowledge center in downtown Raleigh

January 22, 2014

(The News & Observer, Raleigh)

Evalueserve has leased a 7,000-square-foot space in downtown Raleigh where it will hire 50 workers over the next six to 12 months to provide research and analysis for the financial services sector. The company previously announced plans to hire 400 workers by 2017; if it meets its goals for hiring and investment, Evalueserve will receive a state incentives package worth $2.95 million.

Durham drug development firm looks to raise $60 million from IPO

January 22, 2014

(The News & Observer, Raleigh)

Durham-based Argos Therapeutics filed a report with the Securities and Exchange Commission saying it hopes to sell 4.25 million shares of its stock for between $13 and $15 a share in an initial public offering. Argos is a drug development company that currently does not have any drugs on the market, but has several in development, including one for the treatment of kidney cancer.

McCrory says teachers will get pay raises, promises review of DHHS

January 22, 2014

(The News & Observer, Raleigh)

At a press conference on Tuesday, Gov. Pat McCrory outlined priorities for 2014, among them pay raises for teachers, a major review of the Department of Health and Human Services and continued emphasis on energy exploration including hydraulic fracturing and offshore drilling.

ARCA expanding again at its Mebane headquarters

January 21, 2014

(The News & Observer, Raleigh)

A recent expansion of its assembly line at its Mebane headquarters will allow ARCA, which makes cash dispensers for banks and credit unions, to add at least 40 workers this year. ARCA employs about 105 workers at the Mebane plant, including 40 it hired in 2013.

Lenovo reported to be in talks to buy IBM's server unit

January 21, 2014

(WRALTechWire)

Bloomberg News reported that China-based Lenovo, which has its North American headquarters in Morrisville, is discussing a potential deal with IBM to purchase its server unit. Lenovo purchased IBM's PC unit in 2005 and is now the world's No. 1 PC seller.

 

McCrory moving ahead with campaign promises one year later

January 21, 2014

(The News & Observer, Raleigh)

A year after Gov. Pat McCrory's inauguration, his approval rating is eight points lower than when he took office but he is moving forward with much of his legislative agenda, which includes cutting personal income and corporate tax rates.

Cary's SAS ranked second on Fortune list of top workplaces

January 17, 2014

(The News & Observer, Raleigh)

For the second year in a row, Cary-based software company SAS is ranked No. 2 on Fortune magazine's list of the best U.S. companies to work for, behind only Google. SAS has made the list every year since it debuted in 1998; this marks the 11th year it has been in the top ten.

Triangle companies raise more than $100 million during fourth quarter

January 17, 2014

(The News & Observer, Raleigh)

A total of 16 startups based in the Triangle area raised $106.8 million in venture capital during the fourth quarter of 2013, the most since the second quarter of 2008. Durham-based Phononic Devices, one of five companies that raised more than $10 million, brought in $21 million.

Doctors sue state over flawed NC Tracks billing system

January 17, 2014

(The News & Observer, Raleigh)

A group of seven medical practices has filed lawsuits against the state Department of Health and Human Services and three companies associated with the NC Tracks medical billing system, which has caused problems and delays with Medicaid claims processing since it launched July 1.