Triangle

Developer planning innovation cluster in downtown Durham

June 5, 2014

(The Herald-Sun, Durham)

Boston-based Longfellow Real Estate Partners is studying the possibility of building an urban research cluster for life sciences and technology companies. Durham Innovation District would be near a former tobacco warehouse where Duke University is relocating research labs and offices. The private development firm already has 10 acres of land in the proposed area under contract.

Corporate sales robust for U.S. Open in Pinehurst

June 5, 2014

(The Fayetteville Observer)

The USGA sold out all corporate hospitality packages for the upcoming U.S. Open in Pinehurst, though corporate sales are still less than in 2005, the last time Pinehurst hosted the event. Reg Jones, senior director of U.S. Open Championships, said the local economic impact of the golf tournament will probably exceed $150 million. (Go inside the business of corporate hospitality tents in our April issue)

GlaxoSmithKline to pay NC $2.5 million in settlement

June 5, 2014

(WRAL TechWire.com)

North Carolina will receive $2.5 million as part of a $105 million setttlement in a case allegeing GlaxoSmithKline improperly marketed three drugs. United Kingdom-based GSK has its North American headquarters in Research Triangle Park.

Triangle to get AT&T fiber sooner if DirecTV deal is approved

June 4, 2014

(WRAL TechWire.com)

AT&T's proposed acquisition of DirecTV would allow the telecommunications provider to expand its fiber network and increase home Internet speeds. The company has said it will build one of its first new fiber networks in the Triangle. In a regulatory filing, AT&T also said it will save $1.6 billion a year after the merger, mainly due to lower costs for TV programming, which would allow it to expand broadband coverage.

Lenovo, IBM seeking more time for federal review of proposed deal

June 4, 2014

(WRAL TechWire.com)

IBM and Lenovo are seeking an extension for a U.S. government review of the proposed deal in which Lenovo would acquire IBM's x86 server unit for $2.3 billion, Bloomberg reports. Both companies say the deal is still on track to close by year-end. Beijing-based Lenovo would gain 2,000 of IBM's employees as part of the acquisition and has said it does not plan any layoffs.

Harris Teeter to sell LunaPops frozen treats

June 4, 2014

(Greater Wilmington Business Journal)

Harris Teeter will carry Hillsborough-based LunaPops popsicles in 180 of its grocery stores. LunaPops was started in Wilmington in 2008 and offers flavors including Sea Salt Caramel, Raspberry Chocolate Chip and Rhubarb Lime. Matthews-based Harris Teeter was acquired by Cincinnati-based Kroger Co. in January.

Pinehurst Resort buys National Golf Club

June 3, 2014

(The Fayetteville Observer)

Pinehurst Resort has completed its acquisition of National Golf Club. National's Jack Nicklaus-designed golf course will now be called Pinehurst No. 9. Club members will have immediate access to the course and resort guests will be able to play there in early July.

NetApp expands in RTP; could add 150 new jobs

June 2, 2014

(WRAL TechWire.com)

NetApp opened a new 155,000-square-foot building at Research Triangle Park and a company spokesman said about 150 new jobs will be generated to staff it. The Sunnyvale, Calif.-based software company employs about 1,600 in RTP.

 

Triangle apartment vacancy rate rises as inventory grows

June 2, 2014

(The News & Observer, Raleigh)

The Triangle apartment vacancy rate rose to 7.6% in March, its highest rate since March 2010. Almost 10,000 new apartment units were under construction in March. Average monthly rent also increased by $15 to $913.

Motorola Mobility to close Texas smartphone plant

June 2, 2014

(WRAL.com)

Motorola Mobility will close a Fort Worth, Texas smartphone plant that opened barely a year ago by the end of 2014. Lenovo plans to acquire Motorola Mobility from Google once it receives regulatory approval. The Texas plant makes Moto X phones, which are sold by Raleigh-based Republic Wireless. The plant employs about 700 workers.

St. Augustine's announces furloughs, restructuring

May 30, 2014

(The News & Observer, Raleigh)

St. Augustine's University will eliminate 4% of its workforce and convert 10% of jobs from year-round to 10-month positions. The university also announced one-week furloughs for employees. The changes will save the struggling school $1 million. 

Durham startup markets fraud-detection app

May 30, 2014

(WRAL.com)

Durham-based CertiRx Corp. has developed a mobile phone app that detects fraud on drug packaging and academic documents.

McCrory signs bill to eliminate privilege taxes

May 30, 2014

(The News & Observer, Raleigh)

After gaining approval from the state House and Senate, Gov. Pat McCrory signed a bill that revokes the authority of local governments to charge businesses privilege taxes. Municipalities will lose an estimated $62 million when the change goes into effect July 1, 2015. The bill also includes a new tax on electronic cigarettes. McCrory is also expected to sign a bill that would fast-track fracking, allowing the state to issue permits for the practice as soon as next spring. 

NC House approves fracking bill

May 29, 2014

(The News & Observer, Raleigh)

The state House voted 63-52 Wednesday in favor of a bill that will allow the state to issue permits for fracking 61 days after new rules are approved. A final vote, likely to be held Thursday, is needed to approve the bill.

Durham's BioCryst to sell $100 million in stock

May 29, 2014

(The News & Observer, Raleigh)

BioCryst Pharmaceuticals is planning a $100 million public stock offering and plans to use the proceeds for general purposes and to fund its treatment for angioedema, a rare genetic disease that causes swelling of various body parts and airways. The Durham-based drug developer's stock rose 11% Tuesday after it reported positive results for the Phase 2 trial of the drug.

NC Senate budget plan boosts teacher pay, cuts teacher assistants

May 29, 2014

(The News & Observer, Raleigh)

The state Senate's budget plan, released Wednesday, offers an 11.2% average salary increase for teachers but cuts funds for teacher assistants nearly in half. The proposed budget also would cut funds for the state Justice Department from $82.3 million to $34 million and result in 638 job cuts, though some of those positions would move to the Department of Public Safety.

Gintzig to stay on as CEO of WakeMed

May 28, 2014

(WRAL.com)

Retired Admiral Donald Gintzig, who has served as interim CEO of 884-bed WakeMed Health and Hospitals, will assume the position permanently. Gintzig stepped in after longtime president and CEO Bill Atkinson resigned in September. 

RTP to share $1 million grant for STEM mentoring

May 28, 2014

(WRAL TechWire)

RTP was selected as one of seven communities nationwide to share in a $1 million grant to advance STEM mentoring. The RTP coalition of 41 companies and educational organizations was selected from 52 cities that applied for the national grant, which was sponsored by the US2020 organization and awarded at the White House on Tuesday.

 

Zaas named president of Duke Raleigh Hospital

May 27, 2014

(The News & Observer, Raleigh)

David Zaas will become president of 186-bed Duke Raleigh Hospital effective July 1. He replaces Richard Gannotta, who became president of Chicago's Northwestern Memorial Hospital in February. Zaas is chief medical officer for Duke University Department of Medicine. 

Pantry adds former BP America CEO to board

May 27, 2014

(The News & Observer, Raleigh)

The former CEO of BP America has joined the board of Cary-based The Pantry. The convenience-store chain, which primarily operates under the Kangaroo Express brand, brought on Ross Pillari for his fuel expertise.