Business: Local and State

Apr. 22, 2014 @ 07:49 PM

Cree CEO: Company looking at ‘strategic opportunities’

Cree Inc.’s CEO Chuck Swoboda said company officials are looking at “strategic opportunities” to expand its product portfolio in a conference call about its third-quarter financial results Tuesday.

Swoboda indicated that the company will be looking to potentially make targeted investments in capacity and into strategic opportunities to enhance its product portfolio. He said some strategic opportunities may emerge over the next months as new LED technology accelerates and enters a consolidation phase.

Apr. 22, 2014 @ 06:08 PM

Business briefs, April 23

  • Monuts makes list of best doughnut shops
  • RDU to host Terminal 1 event
  • East Coast Game conference kicks off Wednesday

Apr. 22, 2014 @ 04:36 PM

Novartis reshapes business with GSK, Lilly deals

Swiss pharmaceutical firm Novartis AG launched a major overhaul of its business Tuesday, unveiling a series of multibillion-dollar deals with Britain's GlaxoSmithKline PLC and the U.S.'s Eli Lilly & Co. that heralds more restructuring in the fast-changing industry.

Switzerland-based Novartis has agreed to buy GSK's cancer-drug business for $14.5 billion, plus up to $1.5 billion more if certain milestones are met. Two GSK cancer drugs, Tafinlar and Mekinist, would give Novartis a strong position for melanoma treatments. A drug for metastatic breast cancer and one for chronic lymphocytic leukemia are two other drugs included in the deal.

Apr. 21, 2014 @ 06:58 PM

Globalization called opportunity, challenge

Globalization is a big economic challenge as well as an opportunity for North Carolina, a N.C. Department of Commerce official said Monday.

“Companies are no longer judged by an (ability) to sell neighbors and friends in surrounding states...” said Derek Chen, business development manager who works to promote the state’s defense, motorsports and automotive equipment industries for the N.C. Department of Commerce.

Apr. 21, 2014 @ 06:44 PM

Downtown Trust Building under contract

The downtown Trust Building on West Main Street is under contract for sale to a partnership that includes Alston Gardner, a founder and a partner in an Atlanta-based private equity firm.

Gardner, who is also a member of the University of North Carolina at Chapel Hill Board of Trustees, said he’s working in partnership with his sister to possibly buy the building.

Apr. 22, 2014 @ 10:58 AM

Business briefs, April 22

  • Durham tech start-up raises new investment dollars
  • N.C. Mutual to host ‘Because We Care’ forum
  • Rich Dad Education workshop to be Thursday

Apr. 20, 2014 @ 04:54 PM

Chapel Hill tech start-up Keona Health raises $2.5 million

A Chapel Hill-based technology start-up behind software designed to help take patient histories, triage patients, and save time for nurses and other staff has raised $2.5 million to accelerate the company’s growth.
Keona Health has developed software called Online Health Advice to allow patients to enter their health information online and to ask a question or communicate a health problem to doctor’s office staff. The program can categorize concerns based on urgency.

Apr. 20, 2014 @ 03:08 PM

Career briefs

  • RTI International announces promotion
  • Pappas joins foundation board
  • Quintiles announces recognition

Apr. 19, 2014 @ 08:30 PM

Changes coming to Central Park area

The redevelopment of Liberty Warehouse into apartments with ground-floor shops may be just the beginning of new development in the Durham Central Park area.

Potential developers are looking into buying other properties and buildings in the area, and additional business owners also are looking to set up shop in the lively district.

The area around Foster Street, Geer Street and Rigsbee Avenue is already home to the Durham Farmers’ Market at the Durham Central Park Pavilion, Fullsteam Brewery, Motorco Music Hall, Cocoa Cinnamon, King’s Sandwich Shop, the restaurant and bar Geer Street Garden, and multiple bars.

To add to the mix, the owners of The Blue Note Grill, a barbecue and rib restaurant that has live blues, bluegrass, rockabilly and other music each night on Durham-Chapel Hill Boulevard, has signed a lease to relocate to two bays of a building on Washington Street near the Durham Athletic Park.

Apr. 18, 2014 @ 04:15 PM

Business briefs

  • Software firm to acquire Durham’s OrgSpan
  • March sees more tech jobs than February

Apr. 17, 2014 @ 09:00 PM

Business briefs, April 18

  • Argyle Social closes
  • Cambro to create 100 jobs in Alamance
  • TIAA-CREF opens new Durham office

Apr. 17, 2014 @ 08:50 PM

Google Inc. opens doors to showcase Franklin Street office

A peek into Google Inc.’s downtown Chapel Hill offices on Thursday revealed employees sitting or standing in front of two and sometimes three computer screens, and white boards on the walls for drawing or writing.

Apr. 15, 2014 @ 05:49 PM

Bayer CropScience opens Bee Care Center in RTP

Honeybees are in trouble.

Each year, the United States loses about a third of its honeybee population, said David R. Tarpy, an associate professor and extension beekeeper at N.C. State University.

Apr. 16, 2014 @ 09:54 AM

Covidien buys surgical device company Durham businessman helped lead

New Wave Surgical, a Florida-based surgical device company that was co-run by a Durham-based real estate investment executive, sold recently to the global health care products company Covidien.
Andrew Widmark was chairman and co-CEO of the Pompano Beach, Fla.,-based New Wave Surgical before the acquisition. The company developed and sold a device designed to keep laparoscopic surgical lenses clean and clear of fog.

Apr. 14, 2014 @ 06:28 PM

Liberty Warehouse sells to East West Partners

The former tobacco auction warehouses on Rigsbee Avenue known as Liberty Warehouse sold Friday for $3.5 million to the Chapel Hill-based firm that plans to redevelop the property.