Triangle

DENR investigates violations at coal-ash sites

June 3, 2015

(The Sanford Herald)

The N.C. Department of Environment and Natural Resources cited two companies for permit violations at a proposed coal-ash storage site in Chatham County. The companies failed to obtain a required stormwater permit and violated other rules related to site preparations. Duke Energy plans to store up to 12 million tons of coal ash at the Moncure site. Following the discovery of the violations, the state agency expedited plans to visit a proposed coal-ash site in Lee County.

CFO of Rex Healthcare takes job in Florida

June 3, 2015

(The News & Observer, Raleigh)

Bernadette Spong, who had recently been promoted to chief financial officer at Raleigh-based Rex Healthcare, is leaving to become CFO of Orlando Health. Former CEO David Strong left Rex in April to lead the 8-hospital system in Florida. Erick Hawkins, vice president of heart and vascular services, will replace Spong as CFO of Rex.

CEO of Chapel Hill-based Pozen retires

June 2, 2015

(The News & Observer, Raleigh)

Adrian Adams was named CEO of Pozen, replacing John Plachetka, who is retiring. Plachetka founded the Chapel Hill-based pharmaceutical company in 1996. Adams was CEO and president of Auxilium Pharmaceuticals, which was acquired by Endo Pharmaceuticals in January. The company's shares are down 13.5% this year.

Durham's M&F Bank diversifies board

June 2, 2015

(The News & Observer, Raleigh)

The parent company of Mechanics & Farmers Bank, which is rebranding Tuesday as M&F Bank, named Raleigh attorney Christopher Smith to its board of directors. He is the first non-African American to serve on the Durham-based bank's board.

Shaw alumna named university president

June 1, 2015

(The News & Observer, Raleigh)

Tahsni Dubroy will become the 17th president of Shaw University, the first historically black university in the South, beginning Aug. 1. A Shaw alumna, Dubroy was previously assistant to the president for process optimization and chair of the department of natural sciences and mathematics.

Raleigh's North Hills gains new office tower

May 29, 2015

Raleigh developer John Kane plans a 12-story building in the city's North Hills district for Chicago-based Allscripts Healthcare Solutions.

Apartment developer buys downtown Durham property

May 29, 2015

(The News & Observer, Raleigh)

Charlotte-based Northwood Ravin paid $11.7 million for a 6.1-acre site adjacent to the Durham Bulls ballpark and the American Tobacco Campus. The apartment developer is considering potential plans for the site that could include residential units, a hotel, offices and retail.

NCCU chancellor accused of racism, misuse of public funds

May 28, 2015

(WRAL.com)

Three former employees of N.C. Central University have filed lawsuits against Chancellor Debra Saunders-White, accusing her of racial discrimination against non-blacks and creating a hostile work environment. The lawsuits also claim Saunders-White spent state funds for personal use.

SAS plans new building on Cary campus

May 27, 2015

(The News & Observer, Raleigh)

SAS plans to build a new, 400,000-square-foot tower on its Cary campus. The nine-story building, the software company's 24th, is expected to open in early 2019.

Lenovo reports fourth-quarter results

May 22, 2015

(The News & Observer, Raleigh)

Revenue for computer-maker Lenovo rose 21% in the fourth quarter to $11.3 billion, a figure that would have been higher if not for currency fluctuations. Fourth-quarter net income fell 37% to $100 million, but still beat analysts' expectations of $91.6 million.

Cary software company raises $16M, adding 50 jobs

May 21, 2015

(The News & Observer, Raleigh)

Cary-based software company Samanage raised $16 million in a second round of funding and plans to double its workforce, adding 50 employees over the next year. The company makes cloud-based IT-management software.

Durham-based Cree to spin off Power & RF business

May 19, 2015

(The News & Observer, Raleigh)

Durham-based LED lighting company Cree will spin off its power and radio-frequency subsidiary into a separate company. Frank Plastina, former CEO of telecom company Tekelec, will be CEO of Cree Power & RF Division, which will be publicly traded.
Read more about Cree, from BNC's May issue: Hot and cold: Three NC tech companies in fast-growing sectors face down market whims

Allscripts cuts 60 jobs in Raleigh

May 19, 2015

(The News & Observer, Raleigh)

Chicago-based Allscripts laid off 60 people at its Raleigh office as part of company-wide staff cuts. The company, which develops electronic medical records, was awarded up to $5.35 million in state incentives in 2013 if it agreed to add 350 jobs to its 1,266 by 2017.

Raleigh ranks No. 1 on list of Best Cities for Jobs

May 19, 2015

(The News & Observer, Raleigh)

Raleigh was the only North Carolina city on Glassdoor's inaugural 25 Best Cities for Jobs report. The website, which provides employer reviews and salary information, ranked cities using factors including how easy it is to get a job, cost of living and employee satisfaction. Kansas City, Mo., ranked No. 2.

Royalty Exchange looks at selling business

May 18, 2015

(The News & Observer, Raleigh)

Morrisville-based Royalty Exchange is considering winding down operations or selling the business as it struggles to raise new funding. Founded in 2011, the company offers an online marketplace for songwriters and producers to sell royalty streams to investors. The company also auctions royalty rights from energy projects including wind and solar.

Rex Hospital manager steps down after investigation

May 15, 2015

(The News & Observer, Raleigh)

The director of the emergency department at Raleigh's Rex Hospital has stepped down following a federal investigation into the medical center's treatment of a violent, mentally ill patient.
Also: Rex borrows $150 million to build heart center

Pinehurst to host U.S. Amateur Championship in 2019

May 15, 2015

(The Pilot, Southern Pines)

Pinehurst Resort and Country Club will host the U.S. Amateur Championship for the third time in August 2019, the United States Golf Association announced Tuesday. It will be the 10th USGA championship hosted at the club.
Related: Sure shots: North Carolina's top 100 golf courses, April

Morrisville's MaxPoint Interactive posts strong results

May 14, 2015

(The News & Observer, Raleigh)

Reporting its first quarterly results since its March IPO, Morrisville-based MaxPoint Interactive said Wednesday revenue increased 87% to $28.7 million, though net loss grew to $8.1 million, compared with $4.2 million a year ago. The digital-marketing company makes software to help advertisers target customers who are likely to buy their products.

Durham's Precision Bio raises $25M

May 13, 2015

(Xconomy.com)

Durham-based Precision BioSciences closed on a $25.6 million round of funding led by venBio. Founded in 2006, the company plans to use the proceeds to develop new products using its gene-editing technology.

Durham bank rebrands to attract younger customers

May 13, 2015

(The News & Observer, Raleigh)

In an effort to attract a more diverse customer base, Durham-based Mechanics and Farmers Bank is rebranding to M&F Bank on June 2.