Triangle

PR expenses exceed $2M for UNC Chapel Hill

November 19, 2014

(The News & Observer, Raleigh)

UNC Chapel Hill will pay public-relations firm Edelman more than $1.65 million for its services following the academic and athletic fraud scandal that involved at least 3,100 students. The university had previously spent about $500,000 on public-relations services related to the scandal. UNC officials say state money and tuition dollars will not be used to pay for the PR expenses.

Syngenta faces lawsuits over exporting modified corn

October 28, 2014

(The News & Observer, Raleigh)

Food exporters who claim to have lost millions because they aren't allowed to ship Syngenta's genetically modified, insect-resistant corn to China have filed lawsuits against the agribusiness, which has its global headquarters for biotech research in Research Triangle Park. 

Novartis sells Holly Springs vaccine plant

October 27, 2014

(WRAL TechWire)

Novartis will sell its vaccines business, including its production plant in Holly Springs, to Australia-based CSL in a deal valued at $275 million. Basel, Switzerland-based Novartis received more than $40 million in state and local incentives to build the plant, which opened five years ago and employs 550 people.

Heavner's University Directories files for bankruptcy

October 27, 2014

(The News & Observer, Raleigh)

Chapel Hill-based publisher University Directories has filed for Chapter 11 bankruptcy protection. Owner James Heavner says his company is trying to avoid a hostile takeover by Greg Lindberg, president of Durham-based Eli Global. Meanwhile, another of Lindberg's companies has filed a lawsuit against University Directories and Heavner's other businesses over financial mismanagement.

SAS ranks No. 2 on global list of best places to work

October 24, 2014

(WRAL TechWire)

Cary-based SAS Institute was ranked No. 2 on the Great Place to Work Institute's list of best global workplaces, behind Mountain View, Calif.-based Google for the second year in a row.

Frontier bringing gigabit Internet to some Triangle locations

October 24, 2014

(WRAL TechWire)

Frontier Communications will offer the first gigabit Internet service that is up to 100 times faster than cable at some locations in Durham and Research Triangle Park, but prices are not cheap. Residents will pay $219 a month for one-gigabit service but there's no installation fee or contract required.

Biotech center issues almost $900,000 in loans, grants

October 24, 2014

(The News & Observer, Raleigh)

The North Carolina Biotechnology Center issued $885,586 in grants and loans in the first quarter. Chapel Hill-based Novocor Medical Systems and KinoDyn each received $250,000 loans, as did Winston-Salem-based KeraNetics. The state restored $1 million in funding to the nonprofit center for the 2014-15 fiscal year 

Report reveals 18 years of academic fraud at UNC Chapel Hill

October 23, 2014

(The News & Observer, Raleigh)

An investigation into academic fraud at UNC Chapel Hill revealed an 18-year scheme based on a system of no-show classes for student athletes. Following the report's release, Chancellor Carol Folt said four university employees will be terminated and another five will face disciplinary action.

Blue Cross says ACA rates to rise by 13%

October 23, 2014

(The News & Observer, Raleigh)

Blue Cross and Blue Shield of North Carolina said health insurance rates for plans under the Affordable Care Act will increase by an average of 13.5% next year. The state's largest health insurer covers 258,000 people under the federal health-care law.

Raleigh's TrustAtlantic Bank to be acquired for $80 million

October 23, 2014

(The News & Observer, Raleigh)

First Tennessee Bank will acquire Raleigh-based TrustAtlantic Bank for $80 million. Memphis-based First Tennessee has more than 180 branches, most in Tennessee, and opened its first Raleigh branch last year. TrustAtlantic has five branches in the Triangle and Greenville and had assets of $453 million as of Sept. 30.

SAS's Goodnight foresees continued growth in Cary

October 22, 2014

(The News & Observer, Raleigh)

SAS co-founder and CEO Jim Goodnight says he expects the company to add about 600 workers at its Triangle headquarters over the next three years. The business-analytics software company has added nearly 200 workers a year for the past five years. SAS unveiled a new 220,000-square-foot building on its Cary campus Tuesday morning.

Bluegrass festival sets attendance record in Raleigh

October 22, 2014

(The News & Observer, Raleigh)

More than 180,000 people attended this month's World of Bluegrass festival in downtown Raleigh, making it the largest event downtown Raleigh has ever hosted. The local convention and visitors bureau estimates $10.8 million in direct visitor spending.

Cree to launch cheaper LED lightbulb

October 22, 2014

(The News & Observer, Raleigh)

Durham-based Cree plans to unveil a new LED light bulb that will be cheaper and will look more like a traditional light bulb. Cree's current generation of LED bulbs are sold exclusively at Home Depot stores.

Duke scientists develop technology to identify fracking chemicals

October 21, 2014

(The News & Observer, Raleigh)

Scientists at Duke University have developed a new method to trace fracking chemicals in waterways and other drinking-water sources. The researchers say the technology could be used to identify accidental spills from shale-gas drilling.

Wells Fargo expands market share in Triangle

October 21, 2014

(The News & Observer, Raleigh)

Wells Fargo's market share ranked by deposits in the Raleigh-Cary metropolitan statistical area increased to 30.5% as of June 30, up from 28.68% a year ago. 

UNC professors call for changes regarding student athletes

November 11, 2014

(The News & Observer, Raleigh)

Faculty leaders at UNC Chapel Hill met Monday to discuss forming a new oversight committee for athletics and developing an ethics code for faculty. 

Triangle venture-capital funding returns to 'normalcy' in third quarter

October 17, 2014

(The News & Observer, Raleigh)

Ten Triangle startups raised $47.4 million in venture capital in the third quarter, more than in the first and second quarters but still far below the $106.8 million raised in the fourth quarter of last year. Two companies, Lq3 Pharmaceuticals and medical-device company Tryton Medical, raised at least $10 million.

Chimerix drug to be tested on Ebola patients

October 17, 2014

(The News & Observer, Raleigh)

Durham drug developer Chimerix received FDA approval to begin testing an experimental antiviral drug on people infected with the Ebola virus. 

Sears store closing at Cary Towne Center

October 17, 2014

(The News & Observer, Raleigh)

Sears Holdings will close its store at Cary Towne Center mall by mid-January. The store's 66 employees may apply for jobs at other Sears and Kmart stores.

NC State's Lomax joins RTI International

October 17, 2014

(WRAL TechWire)

Terri Lomax will become vice president for discovery, science and technology at RTI International in December. Lomax has been Vice Chancellor for Research, Innovation and Economic Development at N.C. State University since 2009.