Triangle

Bill Atkinson departing as CEO of WakeMed

September 27, 2013

(The News & Observer, Raleigh)

The WakeMed Board of Directors announced that Bill Atkinson is leaving after 10 years as Chief Executive Officer of the health care system, which employs 8,500 and is one of the Raleigh area's largest employers. The board said "differences in the future direction of the organization" led it to remove Atkinson from the position.

LexisNexis relocating within Triangle to allow for growth

September 27, 2013

(The News & Observer, Raleigh)

Business software provider LexisNexis is leaving its Cary office and moving to a 120,000-square-foot building on N.C. State's Centennial Campus. The space, formerly occupied by Red Hat Inc. before its move last June to downtown Raleigh, is more than double the size of its current Cary space allowing the company room for future expansion. 

Ohio private equity firm acquires Raleigh's Marriott Crabtree Hotel

September 27, 2013

(The News & Observer, Raleigh)

The Raleigh Marriott Crabtree Valley has been sold to an Ohio private equity firm for $26.15 million. Columbus-based Rockbridge Capital plans major renovations for the property and has hired Raleigh-based Concord Hospitality Enterprises to manage the hotel. 

Durham's American Underground selected for Google support program

September 26, 2013

(The News & Observer, Raleigh)

Google unveiled a new "Tech Hub Network" on Wednesday, selecting seven tech hubs in North America to which the company will provide entrepreneurial support. Durham's American Underground, home to more than 100 startups, was selected to be part of the network over the next two years.

Purdue Pharma announces Durham plant

September 26, 2013

(The Herald-Sun, Durham)

Purdue Pharma Manufacturing LP, the Connecticut pharmaceutical company that makes OxyContin pain relief medication, formally announced on Wednesday it is building a new plant in Durham; the company will invest $59 million and hire 100 workers over the next three years.

New agricultural initiative combines support of three Sandhills counties

September 25, 2013

(The Pilot, Southern Pines)

The Green Fields Initiative is a collaborative economic plan developed by Lee, Moore and Richmond Counties to support the agriculture industry in the Sandhills region. Details of the plan, which aims to preserve farmland and encourage residents to use local agricultural products, will be unveiled Thursday.

Raleigh investment firm expands to help startups

September 25, 2013

(The News & Observer, Raleigh)

Raleigh's Lookout Capital has created a new division to fund startups and early-stage companies with revenue of up to $2 million. Lookout Ventures plans to invest between $250,000 and $1 million in startups including manufacturing and service businesses. The firm has also formed a division, Lookout Advisory Services, to partner with other investors on larger deals.

NC Attorney General Cooper joins others urging FDA to regulate e-cigarettes

September 25, 2013

(The News & Observer, Raleigh)

Electronic cigarettes need to be regulated in the same way as traditional tobacco products, according to a letter signed Tuesday by North Carolina Attorney General Roy Cooper and attorneys general from 39 other states. The letter, addressed to the U.S. Food and Drug Administration, says e-cigarettes are being marketed to children with cartoons and candy flavors, and calls for more research into ingredients and nicotine effects. 

State returns grant money for fracking study, wetlands monitoring

September 25, 2013

(The News & Observer, Raleigh)

The N.C. Department of Environmental and Natural Resources has returned a federal grant to provide water-quality data in areas where drilling for natural gas, or hydraulic fracturing, might occur. Division of Water Resources director Tom Reeder says scientists within that division are equipped to perform the study themselves. A second grant which would fund longtime monitoring of wetlands also was returned.

NC FAST computer glitches cause food stamp backlog, lead more to Durham food bank

September 25, 2013

(The Herald-Sun, Durham)

The Durham branch of the Food Bank of Central and Eastern North Carolina served 18 percent more residents in July and August than the same period a year ago. Many residents who visit the food bank claim they have had problems receiving food stamps since the state's new NC FAST computer software system went live over the summer.

Novant will go to NC Appeals Court over Holly Springs hospital

September 24, 2013

(The News & Observer, Raleigh)

On Wednesday, Winston-Salem-based Novant Health will ask the N.C. Court of Appeals to reconsider giving it a permit to build a 50-bed hospital in Holly Springs instead of Raleigh-based Rex Hospital. Novant applied for a permit to build a hospital there in 2008 and 2011 and was denied both times by the N.C. Department of Health and Human Services.

Raleigh software company beats earnings projections

September 24, 2013

(The News & Observer, Raleigh)

Raleigh-based Red Hat Inc. released its report for the fiscal second quarter that beat Wall St. estimates, with revenue of $374.4 million and net income of $67.9 million. According to Bloomberg News, analysts had predicted revenue of $372.1 million. Despite beating projections, Red Hat stock fell as much as 9 percent in after-hours trading Monday.

State Medicaid director resigns after eight months of service

September 24, 2013

(The News & Observer, Raleigh)

N.C. Medicaid Director Carol Steckel submitted her resignation Monday to the Department of Health and Human Services after serving only eight months in the position. Steckel's resignation is the latest surprise announcement from the troubled agency, following several other high-profile departures in the department.

State Senate leader Berger won't run for U.S. Senate

September 24, 2013

(The News & Observer, Raleigh)

North Carolina Senate leader Phil Berger announced he will not run in 2014 for the U.S. Senate seat currently held by Democrat Kay Hagan. Presently four other Republicans, including House Speaker Thom Tillis, are seeking the party's nomination. 

Raleigh bluegrass festival could bring up to $10 million in visitor spending

September 23, 2013

(The News & Observer, Raleigh)

The International Bluegrass Music Association's annual awards, convention and festival comes to Raleigh this week after being held in Nashville, Tenn. for the past eight years. The city is expecting 60,000 attendees and $5 to $10 million in visitor spending from the event. 

Smithfield electronics maker to close, lay off 70

September 23, 2013

(The News & Observer, Raleigh)

AB Interconnect announced it will close, laying off its workforce of 70 in phases beginning in December. The company is a division of Surrey, England-based TT Electronics.

First Citizens launches "Forever First" campaign

September 23, 2013

(The News & Observer, Raleigh)

Raleigh's First Citizens Bank unveiled a new logo and launched a new advertising campaign last week in an effort to raise the bank's profile in markets where the bank has recently entered or expanded. According to company spokesman Barbara Thompson, the campaign will also highlight new products the bank plans to introduce.

NCTracks disappoints Medicaid providers

September 23, 2013

(The Charlotte Observer)

The state's new Medicaid payment system, NCTracks, went online July 1 yet many medical providers claim they have not received any reimbursements since before that time. Medical businesses throughout the state say computer glitches, delays in getting responses and payment problems have caused them to obtain loans or lines of credit, dip into reserves or in some cases close their businesses.

GlaxoSmithKline gets federal contract for anthrax treatment

September 20, 2013

(The News & Observer, Raleigh)

Drug development company GlaxoSmithKline, which has its North American headquarters in Research Triangle Park, has signed a contract with a division of the U.S. Department of Health and Human Services for $196 million to provide 60,000 doses of an anthrax treatment.

Raleigh's Nehi bottling building to be renovated

September 20, 2013

(The News & Observer, Raleigh)

The Nehi Bottling Co. building on Hillsborough St. in Raleigh, which was designated a city landmark in 2010, will be restored and owner James A. Goodnight, son of SAS software company CEO Jim Goodnight, hopes to have a new tenant lined up by early 2014.