Triangle

Hospira to close Clayton plant; 250 workers affected

January 14, 2015

(The News & Observer, Raleigh)

Lake Forest, Ill.-based Hospira plans to close its Clayton manufacturing plant in June, affecting 250 employees. The company will either discontinue making the four medical products produced at the Clayton plant, shift production to another location or to a third-party manufacturer, or sell them to another company. 

Beauty-products retailer closing Wake Forest center

January 14, 2015

(The News & Observer, Raleigh)

The Body Shop will close a customer-service center in Wake Forest where it employs 145 workers. About 10 affected employees will be offered jobs at a new planned U.S. headquarters in New York City or at offices in New Jersey. Owned by L-Oreal, United Kingdom-based The Body Shop makes and sells beauty and skin-care products at more than 3,000 stores worldwide.

ChannelAdvisor shares plummet 54%

January 14, 2015

(The News & Observer, Raleigh)

Shares of Morrisville-based ChannelAdvisor fell 54% Tuesday as seven analysts downgraded their ratings on the e-commerce company's stock. The company reported on Monday that fourth quarter revenue would be about $23.7 million, less than the $25.6 million to $26.1 million it had previously projected.

Lenovo considers spinoff of mobile-device unit amid increased competition in China

January 14, 2015

(WRAL TechWire)

Lenovo CEO Yang Yuanqing said he is considering spinning off a new unit focused on selling mobile devices in China. Announced in October, the unit is supposed to go live in April. 

Durham-based Cree files patent-infringement suits

January 13, 2015

(The News & Observer, Raleigh)

Durham-based Cree filed complaints against California-based Feit Electric and its Taiwanese supplier, Unity Opto Technology, alleging Feit's LED lightbulbs infringe on 10 Cree patents. Cree, which sells its LED bulbs exclusively at Home Depot stores, also accused Feit of false advertising, claiming some of Feit's bulbs fail to meet federal Energy Star standards.

Chimerix patent extended until 2034

January 13, 2015

(The News & Observer, Raleigh)

Durham-based Chimerix was awarded a 20-year patent for brincidofovir, an antiviral drug that is being tested on Ebola patients in clinical trials. Following the announcement, an analyst at William Blair & Co. increased the target price of the drug developer's stock from $46 to $53. Chimerix shares have increased 134% over the past year.

Raleigh to purchase Dorothea Dix campus for $52M

January 13, 2015

(The News & Observer, Raleigh)

Raleigh City Council unanimously approved a deal to buy the 308-acre Dorothea Dix property from the state for $52 million. The agreement will allow for the creation of a destination park in the heart of the Capital CIty on the property that was once home to a psychiatric hospital.

Announcement expected on Raleigh's Dorothea Dix property

January 12, 2015

(The News & Observer, Raleigh)

A press conference on the future of the Dorothea Dix property in Raleigh is scheduled for Monday, according to a post on state Rep. Duane Hall's Twitter account. Civic leaders have led a push to redevelop the 308-acre former psychiatric hospital campus into a destination park, however city and state officials have been unable to negotiate a deal.

Capitol Broadcasting buys Burt's Bees HQ for $14M

January 12, 2015

(The News & Observer, Raleigh)

An affiliate of Capitol Broadcasting paid more than $14.3 million for the 71,000-square-foot building in American Tobacco Campus where personal-care products manufacturer Burt's Bees has been based since 2009. Capitol Broadcasting has invested more than $200 million renovating buildings on the old tobacco campus into an office, residential and entertainment complex (Cover Story, December).

Argos Therapeutics shares fall sharply

January 12, 2015

(The News & Observer, Raleigh)

Durham-based Argos Therapeutics reported disappointing drug trial results for an experimental HIV drug, and shares fell 32% on Friday.

Rex Healthcare names interim president

January 9, 2015

(The News & Observer, Raleigh)

Rex Healthcare named Steve Burriss interim president, effective immediately. He replaces David Strong, who will become CEO of Orlando Health in Florida. Burriss has worked for Rex since 1998; his positions have included VP of operations and ambulatory services.

Chapel Hill's Cempra expects to raise $120M in stock offering

January 9, 2015

(The News & Observer, Raleigh)

Chapel Hill-based Cempra expects to receive $120.6 million in net proceeds from a secondary stock offering. The pharmaceutical company said it plans to sell 5.25 million shares at $24.50 each.   Cempra previously said it planned to sell about $100 million of common stock.

Moore County mulls first jobs incentive program

January 9, 2015

(The Pilot, Pinehurst)

The Moore County Board of Commissioners is considering its first grant program for recruiting jobs and industry. The board could consider guidelines for the incentive program at its Feb. 3 meeting.

UNC Chapel Hill tied for No. 1 in online MBA ranking

January 8, 2015

(The News & Observer, Raleigh)

UNC Chapel Hill tied with two other schools for the No. 1 spot on U.S. News & World Report's inaugural ranking of online MBA programs. Indiana University and Temple University shared the top spot. N.C. State University's online MBA program, launched in 2011, was No. 9.

Golden Corral names Trenary CEO

January 8, 2015

(The News & Observer, Raleigh)

Lance Trenary was named president and CEO of Golden Corral, replacing Ted Fowler who retired at the end of 2014. Trenary, 54, has been chief operating officer of the Raleigh-based restaurant chain since 2011 and has worked for the company for 29 years. Golden Corral has 501 locations in 41 states.

Mercedes chooses Georgia for HQ move

January 7, 2015

(The News & Observer, Raleigh)

Mercedes-Benz USA will move its corporate headquarters – and 1,000 jobs – from New Jersey to Atlanta, the company said Tuesday. Earlier media reports had indicated the automaker was considering relocating to North Carolina, specifically to the Triangle area. 

Rex Healthcare president moving to Florida

January 7, 2015

(WRAL.com)

David Strong, president of Raleigh-based Rex Healthcare since 2004, was named president and CEO of Florida-based Orlando Health, a $2.1 billion system that includes eight hospitals. Strong is also chief operating officer of UNC Health Care for system affiliations.

Analysts: Salix may be open to being acquired

January 7, 2015

(The News & Observer, Raleigh)

The retirement of Salix Pharmaceuticals CEO Carolyn Logan could mean the company is open to being acquired, a pair of analysts said Tuesday. The Raleigh-based drugmaker was said to be in talks with several potential acquirers prior to November, before Salix announced it had misstated drug inventory levels and CFO Adam Derbyshire resigned.

Lenovo offers buyouts to veteran employees

January 7, 2015

(WRAL TechWire)

Lenovo is offering buyouts to an undisclosed number of veteran workers. The world's top PC manufacturer, which has its North American headquarters in Morrisville, saw its workforce grow by more than 10% following 2014 acquisitions of IBM's x86 server unit and Google Motorola Mobility's smartphone unit. 

Salix CEO to retire

January 6, 2015

(The Wall Street Journal)

Carolyn Logan will retire as CEO of Raleigh-based Salix Pharmaceuticals by the end of January. The drug maker announced an inventory audit last fall following a report distributors were holding high amounts of its drugs, and CFO Adam Derbyshire stepped down in November. Logan has been CEO since 2002.