Triangle

Northwood Ravin sells seven properties for $323.9 million

November 21, 2013

(The News & Observer, Raleigh)

Northwood Ravin, a real estate developer with offices in Charlotte and Raleigh, is selling seven of its properties to Ohio-based Associated Estates Realty Corp. for $323.9 million. The apartment complexes, which include four still under construction, contain 1,606 units, making the average price per unit just over $200,000. 

Blue Cross rates to increase as much as 24% on reinstated health plans

November 20, 2013

(The News & Observer, Raleigh)

Blue Cross and Blue Shield of North Carolina will extend individual health insurance plans it offered in 2013, but the company said Tuesday it will raise premiums by an average of 16% and as much as 24%.

Bayer CropScience opens bee research center in Clayton

November 20, 2013

(The News & Observer, Raleigh)

Bayer CropScience, which employs more than 600 in Research Triangle Park and other Triangle locations, has opened a research center in Johnson County dedicated to managing honeybee populations. Beekeepers have reported dwindling numbers of bee populations over the past seven years.

Durham's Patheon will be taken private in merger agreement

November 20, 2013

(The News & Observer, Raleigh)

Patheon, a Durham-based pharmaceutical services firm, is merging with a Netherlands-based vitamin company and going private in a three-way deal with New York-based private equity firm JLL Partners. The $2.6 billion deal will create a company that will be headquartered in Durham and will have 8,300 employees.

McCrory visits Arizona, California for political conference, recruiting

November 20, 2013

(The News & Observer, Raleigh)

Gov. Pat McCrory is in Arizona this week to attend the annual meeting of the Republican Governors Association, following a recruiting trip to California earlier in the week where he visited the headquarters of Google and Facebook.

John Edwards opens new Raleigh law firm with former partner

November 19, 2013

(The News & Observer, Raleigh)

Former U.S. Senator and presidential candidate John Edwards said he has formed a new Raleigh law firm with his former partner. Trial lawyer David Kirby will join Edwards in creating the law firm Edwards Kirby. Among the six attorneys at the new firm are Edwards' daughter Cate, a graduate of Harvard Law School.

Seismic testing for shale gas potential to begin in Lee County

November 19, 2013

(The News & Observer, Raleigh)

Energy developers are expected to begin seismic testing later this month in Lee County to determine the area's potential for hydraulic fracturing, also known as fracking. Ultrasound images will be taken to help drillers determine locations of the highest concentrations of gas or oil.

Lenovo continues expansion in Brazil

November 19, 2013

(The News & Observer, Raleigh)

Lenovo announced Monday it will invest $100 million in a research and development center in Sao Paulo, Brazil. The world's No. 1 PC maker, which employs more than 2,000 at its North American headquarters in Morrisville, said the new center will focus on enterprise software and high-end servers.

National tech companies bolster recruiting efforts at Triangle universities

November 18, 2013

(The News & Observer, Raleigh)

While high-profile technology companies such as Google and Microsoft have recruited on Triangle campuses for years, a growing number of startups and other companies experiencing high growth are coming to the region to look for designers, developers and engineers. 

Butterball reports shortage of fresh turkeys

November 18, 2013

(The News & Observer, Raleigh)

Garner-based Butterball, the country's largest turkey producer, says it has a limited supply of fresh turkeys this year. A company spokesman says it has an ample supply of its larger frozen turkeys. 

Some public agency executives make more than appointed officials

November 18, 2013

(The News & Observer, Raleigh)

According to a salary analysis of over 1,200 state and local agencies, a select group of public officials receive big salaries and benefits, sometimes more than city and county managers, to run housing authorities, city utilities and community colleges.

Experts say Wake County not large enough for rail transit to succeed

November 13, 2013

(The News & Observer, Raleigh)

At a meeting on Tuesday, visiting transportation experts told Wake County leaders the city doesn't have the urban density needed to support light rail. The three outside panelists suggested Raleigh plan incrementally, beginning with widening roads for bus-rapid lanes which could later be converted to light rail.

Mark Cuban invests in Durham heath-care management startup

November 13, 2013

(The News & Observer, Raleigh)

Durham startup Validic, whose product offers integration between mobile app vendors and health care providers and insurers, has raised $760,000 from a group of angel investors led by Mark Cuban, businessman and owner of the Dallas Mavericks.

Judge won't block sale of NCSU's Hofmann Forest

November 13, 2013

(The News & Observer, Raleigh)

An injunction to block N.C. State University's $150 million sale of Hofmann Forest was declined Tuesday by a Wake County Superior Court Judge. A group including conservationists, foresters and professors argued if the new owner makes significant changes to the forest it could affect the natural habitat for wildlife and harm water quality in three important river basins.

Grifols to purchase Novartis' diagnostics unit for $1.68 billion

November 12, 2013

(The News & Observer, Raleigh)

Barcelona-based Grifols, a biotherapeutic company which employs several thousand in the Triangle, announced it is acquiring Novartis' blood diagnostics unit for $1.68 billion, a move it expects will increase annual revenue for its diagnostics division to nearly $1 billion. Novartis is a Basel, Switzerland-based health-care solutions company.

NC State entrepreneurs village project receives $500,000 gift

November 12, 2013

(The News & Observer, Raleigh)

The president of an insurance marketing company from Alamance County is giving $500,000 to N.C. State University's upcoming entrepreneur-themed student community. The Andy and Jane Albright Entrepreneurs Living Learning Village will open on Centennial Campus in August 2014.

Duke Realty announces new building at Morrisville's Perimeter Park

November 12, 2013

(The News & Observer, Raleigh)

Just six months after breaking ground on the Perimeter Two building at Morrisville's Perimeter Park, Duke Realty announced it will begin construction on 245,352-square-foot Perimeter Three there. Limerick, Pa.-based Teleflex will occupy 130,000 square feet of the new building as it consolidates its Triangle area operations.

Critics say McCrory's impromptu style distracts from his political message

November 11, 2013

(The News & Observer, Raleigh)

Gov. Pat McCrory takes an improvisational approach to speaking, often eschewing prepared speeches and teleprompters, that opponents say gives the former Charlotte mayor a credibility problem.

Salix Pharmaceuticals to acquire San Diego firm for $2.6 billion

November 8, 2013

(The News & Observer, Raleigh)

Raleigh-based Salix Pharmaceuticals will acquire San Diego-based pharmaceutical company Santarus for $32 a share, 36% above the stock's closing price Wednesday. Both companies focus on drugs to treat gastrointestinal ailments.

Teleflex expanding in Triangle

November 8, 2013

(The News & Observer, Raleigh)

Limerick, Pa.-based Teleflex will combine its Triangle-area operations under one roof, investing $20 million in a new Morrisville location and hiring 75 more workers over three years. The medical-device maker currently employs 442 in Durham and Research Triangle Park.