Triangle

Former Progress exec named CFO of Raleigh's Highwoods

August 12, 2014

(The News & Observer, Raleigh)

Highwoods Properties named Mark Mulhern chief financial officer. Mulhern spent 16 years with Progress Energy until his departure following the company's 2012 merger with Charlotte-based Duke Energy. He replaces Terry Stevens, who is retiring.

SAS to sponsor computer-science research projects at NC State

August 12, 2014

(WRAL.com)

Cary-based software company SAS formed an agreement with N.C. State University to fund joint research projects in areas including cyber security, big data and health-monitoring technologies. 

Sills named CEO of Mechanics and Farmers Bank

August 12, 2014

(The News & Observer, Raleigh)

Durham-based Mechanics and Farmers Bank named James H. Sills III president and CEO effective Sept. 1, replacing Kim Saunders, who stepped down in March. Sills has held leadership roles at MBNA America Bank, First Tuskegee Bank and Memphis First Community Bank.

Duke University hits fundraising record

August 12, 2014

(The News & Observer, Raleigh)

Duke University raised $441.8 million in fundraising during the fiscal year that ended June 30, 7.5% more than the previous year. The Durham-based university is in the midst of a multi-year campaign with a goal of raising $3.25 billion by June 30, 2017.

Duke researchers study fracking's effects on water quality

August 11, 2014

(The Charlotte Observer)

Professors at Duke University are close to finalizing research that could show whether drilling for shale gas in other states has led to problems with water quality. North Carolina will begin public hearings this month on safety standards for the practice.

Argos Therapeutics wants Durham to open its wallet for expansion

August 7, 2014

(The News & Observer, Raleigh)

Argos Therapeutics has asked the Durham City Council for a $924,676 incentive for an expansion that could lead to the creation of 236 new jobs and a $41 million capital investment. Durham County commissioners approved a $925,000 incentive last week. The company says five other counties and several locations outside of North Carolina have expressed interest in the project.

ChannelAdvisor shares fall 30%

August 6, 2014

(The News & Observer, Raleigh)

Shares of Morrisville-based ChannelAdvisor fell 30% on Tuesday after the company released second-quarter results showing it added new customers at a slower pace than anticipated. The software company added 108 customers in the second quarter, compared with 136 in the first quarter.

ChannelAdvisor raises guidance after strong second quarter

August 5, 2014

(The News & Observer, Raleigh)

Morrisville-based ChannelAdvisor reported revenue of $20.8 million in the second quarter, up 30% from the same period a year ago and higher than analysts' projections. The e-commerce software company increased its guidance for the full year to between $86 million and $86.7 million, up from $85 million to $86 million.

Cary's Ignite Social Media loses major client, plans layoffs

August 5, 2014

(The News & Observer, Raleigh)

Ignite Social Media will lay off roughly half of its 110 employees after losing a major client. The Cary-based marketing agency lost its account with Chrysler Group, its largest client since 2011. Most of the job cuts will be in the agency's Detroit office.

Carolina Trace Country Club sold to Texas group

August 4, 2014

(The Fayetteville Observer)

Texas-based Escalante Golf, which owns and operates golf clubs across the United States, purchased Carolina Trace Country Club in Sanford and plans $2 million in renovations. The club had been member-owned since the mid-1980s. 

Quintiles down despite exceeding expectations

August 1, 2014

(News and Observer, Raleigh)

Quintiles shares closed at $54.93, down $1.89, despite the Durham pharmaceutical services company beating analysts' earnings expectations in the second quarter.

Teacher raises come at a price

August 1, 2014

(News and Observer, Raleigh)

The 7% pay increase for North Carolina teachers will cost $282 million, money the state will get by cutting funding to health and welfare programs and other state spending.

UNC Board proposes cap on financial aid

August 1, 2014

(News and Observer, Raleigh)

A committee of the UNC Board of Governors approved a plan to cap annual tuition increases at 5% and limit the amount of tuition revenue that could be diverted to financial aid at 15%.

House closes the door on the governor's closing fund

July 31, 2014

(News and Observer, Raleigh)

Gov. Pat McCrory’s push to create a new incentive program to recruit new business met resistance in a House committee with lawmakers rejecting the Senate-approved measure.

New rules for rivers

July 31, 2014

(News and Observer, Raleigh)

The General Assembly agreed to replace rules that protect North Carolina’s rivers and streams with new regulations written by industry insiders and regulators.

Triangle unemployment hits six-year low

July 31, 2014

(News and Observer, Raleigh)

The jobless rate in Raleigh-Durham fell to 5% in June, its lowest level in six years and down from 7.2% the year before.

The Pantry soars on earnings report

July 31, 2014

(News and Observer, Raleigh)

Shares of the Cary-based convenience-store chain skyrocketed 15% Wednesday after it reported third-quarter earnings above analysts' expectations.

Martin-Marietta beats earnings estimates

July 30, 2014

(News and Observer, Raleigh)

Martin-Marietta Materials earned $1.34 per share in the second-quarter, beating analyst estimates of $1.29.

Variety Wholesalers plans southeast Raleigh grocery

July 30, 2014

(News and Observer, Raleigh)

Variety Wholesalers, the retail-store chain owned by Art Pope, bought a Kroger store in southeast Raleigh with plans to open a Rose's store and an adjacent supermarket.

Raleigh politicians settle on budget

July 30, 2014

(News and Observer, Raleigh)
Legislative leaders in Raleigh agree on a $21.3 billion budget that would boost starting pay for teachers to $35,000.