Triangle

NC Senate budget plan boosts teacher pay, cuts teacher assistants

May 29, 2014

(The News & Observer, Raleigh)

The state Senate's budget plan, released Wednesday, offers an 11.2% average salary increase for teachers but cuts funds for teacher assistants nearly in half. The proposed budget also would cut funds for the state Justice Department from $82.3 million to $34 million and result in 638 job cuts, though some of those positions would move to the Department of Public Safety.

Gintzig to stay on as CEO of WakeMed

May 28, 2014

(WRAL.com)

Retired Admiral Donald Gintzig, who has served as interim CEO of 884-bed WakeMed Health and Hospitals, will assume the position permanently. Gintzig stepped in after longtime president and CEO Bill Atkinson resigned in September. 

RTP to share $1 million grant for STEM mentoring

May 28, 2014

(WRAL TechWire)

RTP was selected as one of seven communities nationwide to share in a $1 million grant to advance STEM mentoring. The RTP coalition of 41 companies and educational organizations was selected from 52 cities that applied for the national grant, which was sponsored by the US2020 organization and awarded at the White House on Tuesday.

 

Zaas named president of Duke Raleigh Hospital

May 27, 2014

(The News & Observer, Raleigh)

David Zaas will become president of 186-bed Duke Raleigh Hospital effective July 1. He replaces Richard Gannotta, who became president of Chicago's Northwestern Memorial Hospital in February. Zaas is chief medical officer for Duke University Department of Medicine. 

Pantry adds former BP America CEO to board

May 27, 2014

(The News & Observer, Raleigh)

The former CEO of BP America has joined the board of Cary-based The Pantry. The convenience-store chain, which primarily operates under the Kangaroo Express brand, brought on Ross Pillari for his fuel expertise. 

Raleigh real estate broker sentenced in mortgage fraud case

May 23, 2014

(The News & Observer, Raleigh)

Mark Henry Tkac was sentenced to 42 months in prison for his involvement in a real-estate flipping scheme that defrauded banks and lenders. Tkac, 49, was charged with conspiracy to commit mail, wire and bank fraud. 

Chapel Hill contract research organization growing

May 22, 2014

(The News & Observer, Raleigh)

Chapel Hill-based Rho will hire 24 workers to its existing 371 due to customer growth and repeat business from customers. The contract research organization has added about 36 workers since the beginning of the year.

Smartphone sales lift Lenovo's annual profit

May 21, 2014

(The News & Observer, Raleigh)

Lenovo's annual profit increased 29% to $817 million as revenue from its smartphone division nearly doubled and tablet sales quadrupled. The company, based in Beijing and Morrisville, paid $2.9 billion for Google's Motorola Mobility smartphone business in January. 

Merck passes on Chimerix HIV drug

May 20, 2014

(The News & Observer, Raleigh)

Merck has decided not to develop and commercialize an antiviral HIV drug it acquired from Durham-based Chimerix in 2012. Chimerix, which will lose out on $151 million in potential revenue from the deal, has focused on the development of brincidofovir, another antiviral drug that helps patients with compromised immune systems.

Triangle app startups look for ways to get noticed

May 19, 2014

(The News & Observer, Raleigh)

Triangle app companies discover that while starting a business is easy, developing innovative apps and figuring out how to make a profit from free or low-cost apps are the biggest challenges.

Moral Monday demonstrations to resume today

May 19, 2014

(WRAL.com)

Moral Monday protestors plan to return to Raleigh today, though the legislature enacted new rules last week that limit protests inside the state legislative building. Last year's weekly protests led to nearly 1,000 arrests.

Technology job market improves in April

May 16, 2014

(WRAL TechWire)

The number of information technology jobs posted in North Carolina in April grew 2.6%, based on a report from the North Carolina Technology Association. The increase follows months of disappointing jobs statistics for the industry, but still lags behind the national improvement rate of 7.3%.

Duke's Kryzewski earned $6 million in 2012

May 16, 2014

(The Charlotte Observer)

Duke basketball coach Mike Kryzewski earned more than $6 million in 2012, according to USA Today. That was 40% less than the $9,682,032 he made in 2011, when his Blue Devils had just won a national championship and Coach K became the winningest coach in Division-1 basketball. 

$90 million mixed-use project announced at Raleigh's Crabtree Valley

May 15, 2014

(The News & Observer, Raleigh)

A $90 million mixed-use development has been proposed for a 10-acre site at Raleigh's Crabtree Valley. Fort Worth, Texas-based Trademark Property Co. wants to develop up to 150,000 square feet of retail and restaurant space and up to 175 apartments across from Crabtree Valley Mall.

GKN Driveline adding 105 jobs in Lee County

May 14, 2014

(The News & Observer, Raleigh)

GKN Driveline will add 105 jobs at its Sanford plant by the end of 2015 and will invest $18 million there and at a plant in Alamance County. The Michigan-based automotive-parts manufacturer announced last month it plans to add 228 jobs in Catawba County. The company employs more than 2,000 people in four counties in North Carolina.

Bluegrass festival to stay in Raleigh through 2018

May 14, 2014

(The News & Observer, Raleigh)

Raleigh will host the International Bluegrass Music Association's convention and festival through 2018. The organization signed a three-year extension with the city following last year's successful event, which drew an estimated 154,000 people and generated $10 million in visitor spending. The 2014 festival will run Sept. 30 through Oct. 4.

Quintiles buys Texas-based healthcare consulting company

May 13, 2014

(The News & Observer, Raleigh)

Quintiles will acquire Houston-based Encore Health Resources, a healthcare IT consulting business, for an undisclosed sum. The deal, which is expected to close by the end of June, will give the Durham-based pharmaceutical-services company 300 additional employees.

Duke trustees approve $2.2 billion budget

May 12, 2014

(Durham Herald-Sun)

Duke University trustees approved a $2.2 billion budget for the 2014-15 fiscal year, an increase of 1.5% over the current fiscal year. The budget includes a 4.5% increase in financial aid. Trustees also approved $15 million in improvements to Wallace Wade Stadium, which will be funded through private contributions. 

Blue Cross sold 232,000 ACA policies; enrollees mostly older

May 9, 2014

(The News & Observer, Raleigh)

Blue Cross and Blue Shield of North Carolina enrolled 232,000 state residents under the Affordable Care Act, though the majority were older and have more chronic conditions than insurer expected. Rates are likely to increase next year as a result of the insurer not signing up enough younger, healthier people to offset costs.

Durham-based Cree buys back $100 million in stock

May 9, 2014

(The News & Observer, Raleigh)

Durham-based Cree announced it has bought back $100 million of its shares and may purchase up to $200 million more. Shares of the LED lighting company have fallen 27% this year.