TBJ 2014 JAB Article

TRIANGLE
BUSINESS JOURNAL
November 14, 2014
Vol. 30, No. 10, $3.00
3600 Glenwood Ave.
Suite 100
Raleigh, NC 27612
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Selling Orange County
New chamber leader
draws on native roots
CAMERON SNIPES, 26
HIGHEST PAID NONPROFIT CEOS 18-19
LAW &LAW &
RE-ORDER
BY AMANDA HOYLE | PAGES 12-14
COVER STORY
JOHN WEST
PHARMACEUTICALS
Salix’s value slips
by $3 billion
Raleigh’s homegrown pharma
company sees its stock dip
due to an internal inventory
audit. JASON DEBRUYN, 6
TECHNOLOGY
Looking for ﬁber in
all the wrong places
Wake Forest residents still waiting
on RST Fiber to install their promised
high-speed Internet connectivity.
LAUREN OHNESORGE, 8
EXECUTIVE VOICE
Master of the
‘brewery in a box’
Beyond making beer, Brooks Hamaker
helps brewers with the details
of running and sustaining their
businesses. DAWN WALLACE, 16
A BETTER WORLD
FOR LGBT
CENTER,
ADVOCACY
AND
SUPPORT
DOESN’T
STOP AT GAY
MARRIAGE
RIGHTS11
Forget presidential portraits, dark wood and private sanctuaries;
today’s Triangle law ﬁrms want smaller, open and functional spaces
Jeff Bandini, partner and
leader of Parker Poe’s real
estate practice group.
Cover.indd 1 11/13/14 9:28 AM
AmericanCityBusinessJournals-Notforcommercialuse

2 TRIANGLE BUSINESS JOURNAL
ABC
Adams, Diane.................. 3
Bandini, Jeff................. 13
Bohannon, Kyle............. 26
Carlson, Merrilee .......... 14
Chatterjee, Swadesh........ 3
Chignell, Kevin, ............ 13
Connor, Christin............ 26
DEF
David, Lisa.................... 26
Davis, Jean..................... 8
Edgeton, Doug................ 6
Edwards, Tara............... 26
Ernandes, Mike ............. 10
Eshelman, Fred............... 7
Freddoso, Joe ................. 8
Frye, Stephen ................. 7
GHI
Gintzig, Donald............... 3
Gonet, Cole .................. 26
Hamaker, Brooks........... 16
Hines, Sonja ................. 26
Horn, Chris................... 26
Howington, Mike............. 5
Hunt, Jim ....................... 3
JKL
Limerick, Dan ................. 8
Lipson, Jesse .................. 8
Loper, Johnny............... 13
MNO
Maier, Jennifer.............. 26
Manetta, Betty.............. 26
Mansueti, Pamela.......... 11
Marshall, Elaine,............. 3
Miller, James ................ 11
Monroe, Sandi .............. 26
Nix, Craig ..................... 26
O’Donnell, Roe ............... 8
PQR
Perry, Patricia............... 26
Pike, Joanne ................... 3
Pike, Tom ....................... 3
Price, David.................... 3
Rasmussen, Henrik.......... 8
Redmond, Billie .............. 3
STU
Santangelo, Michael...... 26
Sempeles, Harry ........... 26
Sikaitis, John................ 14
Small, Chris.................. 26
Starling, Elaine ............. 26
Stephens, Sara.............. 26
Tata, Tony ...................... 3
Terhune, Peggy............. 26
VWXYZ
Warasila, John .............. 14
Widen, Jason .................. 8
Williams, Danny............ 10
Wilson, Sean Lily........... 17
Winters, Mike ............... 14
Wolfer, Lance................ 10
ABC
Abita Brewing Co. ......... 16
Alliance Architecture..... 14
Anheuser-Busch Inbev... 10
Argent Associates Inc.... 26
AT&T.............................. 8
AutoPark...................... 10
BBH Design................... 26
Blackjack Brewing Co. ... 16
Brennan Station.............. 5
Brier Creek Country Club . 3
The Carlyle Group ........... 7
Carmike Cinemas ............ 5
Cervezeria Mexicana ..... 16
Cherry Bekaert LLP ....... 26
Citrix.............................. 8
Clark Nexsen................. 26
Contour Venture Partners 8
Core Capital Partners ...... 8
Crabtree Valley Mall........ 5
Cushman & Wakefield
Thalhimer .................. 26
DEF
Durham Bulls Athletic Park3
eCapital Advisors .......... 26
Ellis & Winters .............. 14
Enterprising Women...... 26
FastMed Urgent Care..... 26
Fat Daddy’s..................... 5
First Citizens BancShares26
First Watch..................... 5
Forest Laboratories......... 7
Frank Theatres................ 5
Frontier Communications 8
Fullsteam Brewing Co.... 16
Furiex Pharmaceuticals ... 7
GHI
Golden Corral ................. 5
Google ........................... 8
H&S Resources Corp...... 26
Halle Building Group ....... 5
The Halle Companies....... 5
Hellman & Friedman........ 7
Honda.......................... 10
HQ Raleigh ..................... 8
IDEAFund Partners.......... 8
JKL
JLL............................... 13
Krispy Kreme.................. 5
Leith............................ 10
LGBT Center of Raleigh.. 11
LS3P Raleigh ................ 26
MNO
Make-A-Wish Eastern North
Carolina ......................... 3
McConnell Golf............... 3
MCNC............................. 8
MillerCoors................... 10
N.C. Biotechnology
Center ......................... 6
National Alliance on
Mental Illness............. 26
Navy .............................. 3
Nissan.......................... 10
PQR
Panera Bread Co.............. 5
Parker Poe.................... 13
PEG Contracting ........... 26
Pendo ............................ 8
PNC ............................. 13
Poyner Spruill............... 13
PPD................................ 7
Pump It UP ................... 11
Qlik Tech........................ 3
Quintiles ........................ 3
Raleigh Country Club....... 3
Research Triangle Park.... 5
RST Fiber........................ 8
STU
Sazerac Group .............. 16
Smith Anderson ............ 13
Starbucks..................... 10
Taverna Agora ................ 5
ThinkHouse .................... 8
TradeMark Properties...... 3
UNC-Chapel Hill,............. 7
VWXYZ
WakeMed Health and
Hospitals...................... 3
WDS Inc. ...................... 26
Wells Fargo................... 13
William Peace
University .................. 26
Womble Carlyle Sandridge
& Rice........................ 13
R PEOPLE IN THE ISSUE
R COMPANIES IN THE ISSUE
R COMING UP
R Nov. 21: Largest
North Carolina
Hospitals
R Nov. 28: Public
Charities; North
Carolina Metro Area
Law Firms
R Want to be on The
List? Email Cameron
Snipes at csnipes@
bizjournals.com to
request a survey.
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READER’S GUIDE
EXECUTIVE VOICE: JIM HANSEN
Jim Hansen took over as the top Raleigh-area PNC
executive earlier this year when Paula Fryland
moved up to become the bank’s regional president
of the Philadelphia/Southern New Jersey region.
Hansen came to the Triangle from Birmingham,
as regional president of Northern Alabama. He
grew up in Winston-Salem and is a graduate of N.C.
State University and the Kenan-Flagler School of
Business at UNC-Chapel Hill.
NEXT WEEK
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R 2014 Fast 50:
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Date: Nov. 18
Venue: Raleigh Convention Center
Time: 6:30 p.m. to 9:30 p.m.
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Whitney Shaw, CEO; Ray Shaw, Chairman (1989-2009)
JOHN WEST
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R SOCIAL MEDIA
From the outside looking in, Carolina Place is the ideal office location in
Raleigh. On popular Glenwood Avenue and overlooking the
Carolina Country Club golf course, it’s close to great retail
with easy access to Downtown, I-440, RTP, and RDU.
There’s an inside story, too: the newly renovated
lobby and restrooms have taken Carolina Place
to a class by itself. Come take a fresh look.
S P A C E A V A I L A B L E
3,000 - 10,000
contiguous square feet Eric Forshee
eforshee@spectrum-properties.com
J.D. McNeill
jdmcneill@spectrum-properties.com
RSG.indd 2 11/12/14 5:50 PM

NOVEMBER 14, 2014 3
Managing Editor
Rebecca Troyer
IRTROYER@BIZJOURNALS.COM 919-327-1020 @TRIBIZME
BIZ: A QUICK GLANCE
AT TRIANGLE HAPPENINGS
U.S.-India champion
launches new book
TAKE A BOWR GOLF BENEFIT
Part of the CBRE affiliate network
CBRE|RALEIGH Industrial Services
4208 Six Forks Road | Suite 1220 | Raleigh, NC 27609 | T 919.831.8200 | www.cbre.com/raleigh Follow @cbreraleigh
Butch Miller
Senior Vice President
Ann-Stewart Patterson
Vice President
Daniel Jackson
Vice President
Bryan Everett
First Vice President
Growing Team
Growing Experience
Growing Results
C/O MITHUN OORATH, ITHEPHOTOGRAPHER.COM
Former Gov. Jim Hunt holds up “Building Bridges,” by Swadesh Chatterjee,
right, of Cary, as U.S. Congressman David Price, left, applauds.
I
t was a big day for Indian-
American Swadesh Chatterjee of
Cary last week. Biz was invited
to attend the launch of his memoir,
“Building Bridges,” at Brier Creek
Country Club in Raleigh.
Chatterjee, who has been involved
in developing U.S.-India relations
in the past two decades, was seen
hobnobbing with former N.C. Gov.
Jim Hunt, U.S. Congressman David
Price and North Carolina Secretary
of State Elaine Marshall, all of whom
acknowledged Chatterjee’s relevant
contribution in generating a voice
for Indian-Americans in American
policies and politics.
“North Carolina plays an
important role in
developing the
U.S.-India relations
beyond politics,”
says the 66-year-
old winner of one
of India’s highest
civilian honors,
the Padmabhushan
Award. “Our
economic ties are
growing stronger
that will help both countries. I want
to continue to strenegthen those ties
through dialogue and collaboration.”
More than 150 people, primarily
Indian-Americans from the Triangle,
showed up for the festive evening.
Elaine
Marshall
Tony Tata and his team representing
Army beat Donald Gintzig and his team
representing Navy in a friendly charity
golf tournament hosted by McConnell
Golf on Veterans Day at Raleigh
Country Club.
This was the first in what John
McConnell hopes will become an
annual Army-Navy event.
Tata, an Army veteran and now
secretary of the N.C. Department of
Transportation, and Gintzig, a Navy
veteran now the CEO of WakeMed
Health and Hospitals, served as
captains of their respective teams.
Representatives from other branches of
the military were slotted on one team
or the other.
This year, the event benefitted the
U.S. Military Veterans Foundation, as
well as the family of one local veteran.
Team Army won, 497 to 486.
C/O YORGASON PHOTOGRAPHY
Donald Gintzig, left, and Tony Tata,
shake hands at Raleigh Country Club.
ARMY BESTS NAVY AT
VETERANS DAY GOLF EVENT
R HOMETOWN HONORS
TRIANGLE BUSINESSWOMEN
HELPING FULFILL WISHES
About 18 women from the Triangle
business community have signed
on to be part of the second Make-A-
Wish Eastern North Carolina’s WISH
campaign – Women Inspring Strength
& Hope – co-chaired by Qlik Tech’s
Chief People Officer Diane Adams
and TradeMark Properties CEO Billie
Redmond.
Last year, the WISH Woman of the
Year award went to Joanne Pike, wife
of Quintiles CEO Tom Pike, who hosted
a kick-off event Nov. 6 for this year’s
campaign at their home in the Linville
community in north Raleigh.
JOHN WEST
The “Hit bull, win steak” board at
the Durham Bulls Athletic Park.
BULLS WINS TOP HONORS FOR
BALLPARK RENOVATIONS
Ballpark Digest, an online guide to
ballparks and baseball, recognized the
Durham Bulls Athletic Park as “Best
Ballpark Renovation Over $2 Million” in its
2014 annual awards. The franchise was
also recently named winner of the 2014
John H. Johnson President’s Award, Minor
League Baseball’s highest accolade.
“North Carolina truly is the cradle of
the game, and the Durham Bulls are at
the center of that baseball tradition,”
said Kevin Reichard, Ballpark Digest
publisher, in a release.
R THE HYPE
No. 1
Duke University’s Fuqua School of
Business’ rank among business schools
in the U.S. (Bloomberg Businessweek)
No. 2
Raleigh’s rank among the easiest cities
to find a job. (Forbes)
No. 9
Raleigh’s rank among best cities for
veterans. (WalletHub)
No. 12
UNC-Chapel Hill’s Kenan-Flagler
Business School’s rank among business
schools in the U.S. (Bloomberg
Businessweek)
North Carolina and Triangle cities and
institutions make headlines in recent
national rankings.
Biz.indd 3 11/12/14 5:46 PM

4 Triangle Business JOuRnAL
Reporter Pages.indd 4 11/11/14 4:39 PM

november 14, 2014 5
AmAndA hoyle Covers commercial and
residential real estate
Iajhoyle@bizjournals.com 919-327-1018 @tbjrealestate
O
ne of North Carolina’s biggest
corporate incentive grant pro-
grams, the Jobs Development
Investment Grant, has maxed out its
$22.5 million funding account.
“And without JDIG, we will not be
competitive,” North Carolina Commerce
Secretary Sharon Decker told members
of Research Triangle chapter of NAIOP at
its meeting Nov. 7 at the Umstead Hotel
in Cary.
The JDIG program, since its inception
in 2002, has been used by state econom-
ic development recruiters to sweeten the
pot for companies that are considering a
major investment in North Carolina that
would lead to the creation of net new
jobs in the state.
JDIG has typically been reserved for
the largest new jobs deals, and payouts
are only made after the company reaches
a minimum job creation goal.
On Nov. 12, the state’s Economic
Investment Committee approved a JDIG
award for Cognizant Technology Solu-
tions, which will be opening an IT oper-
ations center in Charlotte and adding
500 jobs statewide. Cognizant already
employs 1,487 people in North Carolina
and will be required to retain those jobs.
With the Cognizant grant, JDIG is
“very very close” to its cap, says Com-
merce spokeswoman Kim Genardo.
“Tax reform has helped us because we
are no longer the highest in the South-
east, and that is great,” she says. “But,
we will not be competitive for those jobs
without JDIG.”
Decker also hinted that the state is
negotiating with at least three com-
panies that are considering major job
expansions or relocation projects in the
Triangle region in which JDIG funds
were being requested.
Toreplenishthefund,Gov.PatMcCro-
ry would need to call a special session of
the General Assembly. Otherwise, law-
makers would have to wait until the Gen-
eral Assembly’s long session convenes on
Jan. 14, 2015, to introduce a funding bill.
But even if McCrory does recall law-
makers for a special session, the propos-
al could face opposition from lawmak-
ers opposed to economic incentives that
benefit individual companies.
“We are in ongoing discussions
about the need for a special session and
that will be based upon our economic
development and recruitment efforts,”
McCrory stated through his office. “I’ve
said all along that if there is an economic
development recruitment decision that
has to be made that involve job develop-
ment grants, and that decision needs to
be made before January, then I will call
a special session. If a decision is needed
and jobs are on the line, I will call for a
special session.”
economic development
john west
N.C. Secretary of Commerce Sharon Decker tells NAIOP members in Cary that
the state’s Jobs Development Investment Grant funding is about to run out.
JDIG incentive funding
ends, final project on tap
deal of the week
Multi-use project
slated for Durham’s
‘gateway’ site
A
Charlotte real estate
developer confirms plans to
buy the Hendrick Durham
Auto Mall property on Roxboro
Street in downtown Durham with
plans for a major high-rise, mixed-
use building project.
Charles Lindsey McAlpine,
managing partner of Charlotte-
based CitiSculpt, says he has a
“hard” contract with Hendrick
Automotive Group to buy the
property from the auto company
once the property is vacated in 2015.
The Hendrick Durham Auto Mall,
is relocating to a new site near The
Streets at Southpoint mall. On Nov. 1,
Hendrick opened the new Mercedes-
Benz of Durham dealership at its new
south Durham site.
CitiSculpt already has an
agreement with a luxury apartment
developer, Woodfield Investments,
to build the first phase of new
construction on the Roxboro Street
site. Site plans should be filed soon.
The site is divided in such a way
that it could support four pods of
development: A high-rise office or
medical office building; a transit-
oriented development; multifamily
apartments; and a dense, mixed-use
development fronting Roxboro Street.
R RTP AReA
apex building company halle building
Group has purchased 300 acres
of undeveloped land at the edge
of research triangle Park on ellis
road in Durham with plans to begin
a multiphase, multimillion dollar
development of apartment, residential
and commercial construction.
halle paid $10 million for the
property, purchased from 12 different
ownership groups, and plans to begin
construction of the first phase, a 336-
unit apartment community, as early
as march 2015, says mike howington,
head of halle building Group and a
vice president for its parent company,
the halle companies of silver spring,
maryland.
amanDa hoyle
300 acres on edge of rtp
sold for development
R ReTAil & ResTAuRAnTs
breakfast club: stretch
of glenwood avenue
becoming a hotbed
Krispy Kreme is in negotiations to open
a new doughnut and coffee shop in
a building at 6101 Glenwood ave. in
raleigh that will soon be vacated by the
taverna agora Greek restaurant. taverna
agora is relocating to downtown
raleigh in the first quarter of 2015.
if the deal happens, it’ll complement
a number of the new restaurant deals
that are turning the quarter-mile
stretch of road about two miles west
of crabtree valley mall into a go-to
spot for breakfast, brunch and lunch
options. there’s already a flagship
location for the buffet-style Golden
corral restaurant, and the triangle’s
first franchise for the First watch
breakfast chain has opened next door.
Further down the strip, reconstruction
of the former Fat Daddy’s restaurant
building is underway on behalf of the
Panera bread co., which will be opening
a new bakery and restaurant location.
c/o thinKstocKPhotos
holly springs towne
center switches cinema
operations firm
carmike cinemas has stepped in to
take over plans to build a new movie
theater complex at the holly springs
towne center after Frank theatres
bowed out of its new location plans
in holly springs. the new carmike
cinemas will have nine stadium-style
theater screens and an upscale dining
option inside and is expected to open
in the fourth quarter of 2015.
sardi’s den rib
joint to open first
franchise in raleigh
sardi’s Den restaurant & lounge, a
clemson, south carolina, rib house
staple for the past 20 years, will be
opening its first franchise location
in the brennan station shopping
center on creedmoor road in north
raleigh. sardi’s has signed a lease for
the 4,416-square-foot space formerly
occupied by oliver twist, but no
opening date has been announced.

JASON deBRUYN Covers health care and
biopharmaceuticals
IJDEBRUYN@BIZJOURNALS.COM 919-327-1029 @TRIBIZHEALTH
BIOTECH
N.C. BIOTECH CENTER
FOCUSES ON JOBS
JOHN WEST
Doug Edgeton is the president and
CEO of the N.C. Biotechnology Center.
The N.C. Biotechnology Center serves
as an economic development driver
for small life sciences companies in
North Carolina. It files as a private
nonprofit, but receives appreciably
all of its $13.6 million budget from
the state taxpayers. Newly named
President and CEO Doug Edgeton
says that’s important because it allows
the center to focus its efforts on
generating jobs and investments in
companies, not turning a profit.
In simple terms, the RTP-based
biotech outfit serves as an economic
developer and resource for small
companies in the life sciences
industries. Those include drug makers,
bio-defense companies and agri-
biotech researchers, among others.
What the N.C. Biotechnology
Center did in the first quarter:
16
Loans and grants awarded.
$885,586
Value of those loans and grants.
$13 million
Raised in outside funding by
companies previously awarded
NCBiotech loans.
$117
Amount, on average, raised by
young life sciences companies for
every dollar invested in them from
NCBiotech loans.
19
NCBiotech loan recipients that
collected at least $150,000.
$13.6 million
N.C. Biotechnology Center annual
budget, generated nearly entirely from
state taxpayers.
SOURCE: N.C. BIOTECHNOLOGY CENTER
JOHN WEST
Salix, which saw its value drop by nearly $3 billion last week, is headquartered in northeast Raleigh.
After disclosure, Salix stock plunges
PHARMACEUTICALS
S
alix Pharmaceuticals lost nearly $3 billion in market val-
ue overnight on Nov. 6, as it reported operating losses;
questions about inventory reporting led to an audit –
and now a shareholder lawsuit.
Thecompanythatdevelopsandmanufacturesgastrointestinal
drugs reported a third-quarter loss of $89 million, faces an audit
forhowitreporteddrugwholesalerinventorylevels,missedsales
targets and saw CFO Adam Derbyshire resign unexpectedly, all
leading to a nearly 40 percent drop in share price.
For months, executives at Salix led investors and analysts to
believe that the wholesaler inventory of its drugs held steady
at roughly 10 weeks to 12 weeks when in fact inventory was
as high as 36 weeks for some drugs.
Wholesaler inventory is an important measure because
they can indicate a difference in reported revenue figures
against how many doses of drugs patients
are actually taking. As wholesale inven-
tory levels increase, it could artificially
inflate earnings figures as a drug maker
pushes its products out the door, even if
patients aren’t buying those drugs at the
same rate.
Salix management acknowledged that
the reported sales figures for the coming
two years would likely come in below
the demand for its drugs as the company
ramps down wholesaler inventory levels
from nine months to three months.
CEO Carolyn Logan saw the market value of her personal
shares drop from $147 million to $95 million.
INVENTORY AUDIT AND SHAREHOLDER LAWSUIT PLAY A ROLE
Adam
Derbyshire
SALIX STOCK CHART
$200
$150
$100
$50
July 1, 2014
$140.02
Positive trial
results on
expanded use
of rifaximin
July17, 2014
$130.74
Treasury
secretary seeks
to prevent
foreign deals
like Salix
merger
Aug. 19, 2014
$160.80
Salix rumored
as a potential
acquisition
target of Botox
maker Allergan
Sept. 23, 2014
$169.17
Reaches patent
settlement with
generic drug
company Par
Pharmaceutical
in which the
generic drug
maker agrees
to pay $100
million
Oct. 3, 2014
$152.87
Calls off
inversion deal,
won’t move
headquarters
overseas Nov. 7, 2014
$91.47
Day after reporting
third quarter loss
and inventory
reporting
problems
SOURCE: YAHOO! FINANCE

NOVEMBER 14, 2014 7
P U B L I X G I F T C A R D S
Feel li ke Santa
without the stress.
In a matter of minutes, you
can get the perfect gift for
practically everyone on your list:
employees, customers, vendors, and friends.
They’ll all love getting a Publix gift card, because
they can choose exactly what they want
at the store where they love to shop.
Just call 800.830.8159, visit publix.com/gift,
or drop by your neighborhood Publix.
Call to ask if your order qualifies for a discount. All orders, unless otherwise requested,
will be sent with standard shipping at no charge. Card designs subject to availability.
SOURCES: YAHOO! FINANCE, INC RESEARCH
Stephen Frye, director of the Center for Integrative Chemical Biology and Drug
Discovery, part of the Eshelman School of Pharmacy at UNC-Chapel Hill, after Fred
Eshelman, the school’s namesake, donated $3 million to help advance the center’s
drug discovery program.
Eshelman, a graduate of the school, is himself no stranger to drug discovery. After
founding pharmaceutical research organization PPD, which was sold for $3.9 billion
to affiliates of The Carlyle Group and of Hellman & Friedman, he founded Furiex
Pharmaceuticals, which was acquired by Forest Laboratories in a deal that could
reach $1.4 billion. Eshelman could stand to make $350 million in the Furiex deal. He
has now donated a total of $38 million to the school of pharmacy.
R HE SAID IT
C/O UNC
“This gift will enable
us to advance
scientiﬁc discoveries
made by UNC faculty
by creating new
medications to beneﬁt
cancer patients.”
R BIG NUMBERS
Raleigh-based pharmaceutical research organization INC Research hit public markets
on Nov. 7 when it completed an IPO. Here’s a look at the IPO by the numbers:
$150 millionRaised by INC Research through the IPO.
$18.50IPO share price.
$20.49Closing price on first day of trading
(Nov. 7).
13.5%What public shareholders now own of INC
Research.
$533 millionINC Research debt. The company said
it would use appreciably all of the IPO
proceeds to pay down debt.
5,500/925/
800INC Research employees in the world,
North Carolina and Triangle.
$56 billionEstimated addressable global clinical
development market.
Pharmaceutical research giant Quintiles
topped $1 billion in service revenue for
the third quarter, a nearly 14 percent
increase over the same quarter last year.
Again, its Integrated Healthcare
Services segment grew faster – although
from a smaller base – at a rate of 34
percent. Durham-based Quintiles still
generates the bulk of its revenue – $771
million – from helping pharmaceutical
companies test and develop new drugs.
However, the Integrated Healthcare
Services segment has been an up-and-
comer and now represents about a
quarter of all net revenue.
This umbrella includes commercial
services, including providing contract
pharmaceutical sales forces or
consulting and other kinds of health care
research.
Looking ahead, Quintiles lowered
revenue guidance by about $40 million
based on “significant changes in foreign
currency exchange rates.” The company
pegged revenue guidance at between
$4.16 billion and $4.19 billion, a growth of
nearly 10 percent compared with last year.
It pegged earnings per share guidance at
$2.61 to $2.68 per share, an increase of as
high as 30 percent compared to 2013.
Shares traded down about 4
percent to $55.75 after the earnings
announcement; the company’s market
value is about $7 billion.
REVENUE REPORT
QUINTILES’ REVENUE UP, GUIDANCE LOWERED
JOHN WEST
Quintiles is based in Durham.

lauren ohnesorge Covers technology and
entrepreneurship
Ilohnesorge@bizjournals.com 919-327-1008 @TribizTech
live-in entrepreneurship program Thinkhouse
has been in operation nearly a year in boylan
heights, and organizers are already thinking big.
“We’re thinking about some ideas to
expand it,” says co-founder and vice president
and general manager of data sharing at
citrix, jesse lipson. “maybe outside of pure
entrepreneurship.”
lipson teamed up with his hQ raleigh
founders on the initiative last year, buying
the house in downtown raleigh so that
entrepreneurs can focus on their ventures and
not on their post-college living expenses.
hQ raleigh executive director jason Widen
has made no secret of the fact that its founders
would like to expand the idea outside of
raleigh. but lipson says Thinkhouse might
expand outside of its genre.
“one of the things we’ve noticed ... is most
of the people in Thinkhouse are fresh out of
college,” he says. “in college, they had a really
good community. often times, you go out after
that, and you’re on your own.”
While it’s a great model for entrepreneurs,
it could serve other areas – such as education.
lipson imagines a Thinkhouse filled with
teachers, for example. “We’re thinking about a
lot of things,” he says.
on the move
new MCnC Chief
targets state’s
ConneCtivity
“intense.”
That’s how
incoming mcnc
ceo jean Davis
describes the
hiring process.
“i have been
talking to them
for the last, gosh,
three months,”
she says about
the network
and broadband
nonprofit.
she found out
she nailed the job last week.
“it’s an incredible organization,” she
says. “i think that one of the things
we’ve been talking so much about
today, truly, is about how broadband
is the infrastructure for our future, so
that’s how i think i’ll approach this.”
Davis, who says she has an
“inclusive” management style, says
she’s already strategizing in her head.
Fiber, she says, will be a big part of
north carolina’s future.
“This idea of connectivity touches
every part of our state and our
citizens,” she says. “We know that in
order ... to be globally competitive,
we have got to have this high-speed
connection for our citizens.”
Davis, born in boston, came to
north carolina 22 years ago to work for
ibm. she moved directly from europe
for the job.
“i flew into miami, drove up, looked
around and said, ‘this looks good,’” she
says.
Jean
Davis
“In today’s economy,
you want to play to win
and, unfortunately, if
just bootstrap along, you
just go too slowly.”
todd olson,
ceo of newly launched product
engagement platform startup Pendo,
which just raised a million dollars in
seed funding from the likes of core
capital Partners, contour Venture
Partners and iDeaFund Partners.
c/o ToDD olson
R he said it
S
nubbed from inclusion on Google
Fiber’s “maybe” list in February,
many Wake Forest residents had
seen RST Fiber as the answer to their
high-speed fantasies when it emerged
from stealth mode in March. The small,
Shelby-based company announced
it was bringing fiber Internet with or
without Google, using the term “Giga-
bit state” to describe its plan for North
Carolina.
But, months later, residents still
aren’t connected.
“It’ssomethingwewanttomakehap-
pen by mid-summer at the latest,” RST
Fiber CEO Dan Limerick said in April,
when asked when Wake Forest would
get fiber.
Construction crews backed up his
words. About 30 houses were connect-
ed over the next few months, starting
with Crenshaw Manor in Wake For-
est. As crews shoveled dirt, RST began
accepting pre-registrations for the ser-
vices. Limerick and town officials spoke
frequently, says Roe O’Donnell, deputy
town manager for Wake Forest. But that
was then. In the months since, AT&T has
announced its own fiber plans. Frontier
Communications has connected parts of
Durhamtotheservice,includingAmeri-
can Tobacco Campus. While some hous-
es in Wake Forest have been connected
to RST – a process that required exten-
sive dirt moving and invasive equipment
– they have yet to log on.
According to O’Donnell, communi-
cation between the town and RST has
stalled over the past few months – even
afterRSTbuiltoutmilesoffiberbetween
Wake Forest and Raleigh.
O’Donnell says he last spoke with
RST a month ago.
“They said that they were hoping to
get back here in November or December,
but, as of yet, they’re not here,” he says,
adding that a recent email implied RST
was now focusing on Charlotte.
Crenshaw resident Henrik Rasmus-
sen confirms RST work stopped a few
months ago.
“The fiber is hanging on the side of
my house,” he says. “I understand they
are working on the main connection
from Wake Forest to Raleigh.”
Limerick had little to say about the
situation on Nov. 5.
“The only comment I have on that is
RST, being a private company, doesn’t
have public funding to work with, so
right now, we are working diligently
where our funds permit, which is our
area, right around where we’re located
in the Cleveland area and in the Char-
lotte area,” he says.
Dan Holt, the Wake Forest activ-
ist behind WakeForestFiber.com, says
he hasn’t spoken to Limerick recently,
and his website, which helped connect
potential customers to RST, isn’t cur-
rently in service. He couldn’t offer fur-
ther comment.
Joe Freddoso, former CEO of MCNC
and head of the Broadband Task Force
in Wake Forest, says RST isn’t the only
option for the town.
“The Broadband Task Force in Wake
Forest continues to discuss advanced
broadband deployments with several
service providers,” he says. “We have
seen some promising developments in
the last several months with a couple of
different parties.”
But as for the residents of Crenshaw
Manor, fiber options are limited. Since
RST Fiber owns the infrastructure con-
necting their homes, they are locked in,
even if another player steps up.
Wake Forest to RST: Where’s the
high-speed fiber you promised?
fiber update
c/o charloTTe business journal
Randy Revels, left, and Dan Limerick of RST Fiber announced a statewide ultra-
fast data network. It was supposed to start in Wake Forest, but residents there
say they’ve yet to connect.
thinkhouse looks to expand into new territory
Jesse
lipson
john WesT

NOVEMBER 14, 2014 9
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9.3 billion reasons to pay attention to ‘Singles’ Day’
A Chinese bachelor holiday – Singles’
Day – is getting some serious ink.
And the press isn’t about the holiday
itself, which emerged in the mid-90s as
an anti-Valentines Day. It’s about the dol-
lar signs - $9.3 billion, to be exact.
If you’re an e-retailer and you haven’t
heardofSingles’Day,chancesare,youwill,
says ChannelAdvisor CEO Scot Wingo.
Wingo’s Morrisville-based company
has created an online dashboard to help
e-retailers increase their sales, and one
of its partners, Alibaba, is making a big
push to turn Singles’ Day into a global
shopping holiday – one that is already
putting Black Friday to shame, with or
without the U.S.
“U.S. consumers don’t really react to it
as best we can tell,” Wingo says.
But Chinese consumers do. Alibaba
reported $9.3 billion in Singles’ Day sales.
Wingo puts that into perspective. Black
Friday and Cyber Monday made $3 bil-
lion in combined sales last year in the U.S.
Last year, Singles’ Day inked $5.8 bil-
lion in sales. It could be a big opportunity
for U.S. retailers.
“When we’ve talked to the folks at Ali-
baba, one of their biggest challenges is,
there’s a lot of demand for U.S. brands
and products and not a lot of supply,” he
says. And Alibaba, he continues, wants
Singles’ Day to be a global phenomenon
– and just pulled in $21.8 billion in IPO
cash that could help fuel that mission.
“Next year, I think we’ll see a big push
for awareness among Americans.”
JOHN WEST
Scot Wingo is CEO of Morrisville e-commerce company ChannelAdvisor.
“When we’ve talked to the
folks at Alibaba, one of
their biggest challenges is,
there’s a lot of demand for
U.S. brands and products
and not a lot of supply.”
SCOT WINGO,
CEO, ChannelAdvisor

dawn wallaceCovers small business, personalities and Triangle trends
Idwallace@bizjournals.com 919-327-1015 @TribizTrends
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automobiles
dawn wallace
Leith AutoPark Honda of Cary has expanded to 85,000 square feet.
L
eith’s AutoPark Honda of Cary has
more than doubled in size and
added a few perks for customers
and employees.
Previously in a 32,000-square-foot
facility, the dealership now has 85,000
square feet of showroom, service, sales,
consulting, training and storage. Zone
sales manager Lance Wolfer says he
hasn’t seen one larger in the region yet.
The new facility – constructed beside
the old facility, which will serve as the
new AutoPark Nissan dealership – has
updated features, such as an enclosed
service bay, a car wash with a conveyor
belt, and weekly massages and pedicures
for service customers.
Instead of driving up, parking your
car and entering the dealership or ser-
vice entrance to address your concerns,
customers now drive their Hondas into
a covered bay with heating and air con-
ditioning, where an adviser greets them
to address their concerns.
“It’s easier for customers to drive in,”
says General Manager Danny Williams.
“We have about 10 advisers.”
Inside the showroom each Thursday,
servicecustomerscanvisitanon-sitemas-
seuse.AndonMondays,customerscanget
a manicure while they wait for their car.
A kids’ room enclosed in glass with toys
andaTVislocatedbesidethewaitingarea,
where Starbucks coffee is served.
“I’m impressed,” says Wolfer. “We are
exceedingly happy with this building.”
It’s three stories tall, has an elevator
and includes storage beneath the show-
room. Beside the heated repair shop sits
a photo booth for cars, with a rotating
wall for 360-degree views for pictures
and videos. It also has a car wash that
can wash 200 cars in four hours.
With around 650 cars on the lot at any
given point, sales turn over at a rate of
350 cars per month.
“This is a huge investment for the
Honda brand,” says Williams. “The Cary
area sells more Hondas than any other
area in the state. It’s because of the pop-
ulation growth.”
The dealership has 130 employees.
Manicures and more at
expanded Cary dealership
R brewery beat
small business
This year, small businesses across the
state requested about $16 million less
in loans from the u.s. small business
administration than last year.
in 2014, 845 loans were approved,
totaling $449 million. of those, 746
loans were approved through its
general small business loan program
for around $383 million. certified
development companies approved
99 loans for $66 million through the
sba’s real estate and equipment loan
program. That’s down 3 percent from
last year, when the sba approved 917
loans for $465 million.
according to sba spokesperson
mike ernandes, even with the slight
decline, sba lending remains stable.
“with the economy in north carolina
improving, some lenders are following
positive economic trends and financing
loans conventionally,” he says.
between raleigh, cary and durham,
small businesses received almost
$70 million in 115 loans. businesses in
raleigh received 62 loans worth about
$37 million, durham received 33 loans
worth $12.5 million and cary received
20 loans worth $19 million.
N.C. small busiNesses
relyiNg less oN sba loaNs
energy
north carolina ranked no. 5 in the
country for new clean energy job
creation during the third quarter.
Here are the numbers, as calculated
by national nonpartisan environmental
policy group environmental
entrepreneurs (e2):
N.C. CleaN eNergy jobs,
by the Numbers
18,000
new jobs announced across 20 states.
12,000
new jobs announced in the second
quarter.
876
new jobs created in north carolina.
6,556
new jobs in nevada, the top-ranked state.
150
new jobs created in illinois and
maryland, ranked 10th.
“MillerCoors, like Anheuser-Busch Inbev has had a tough year,
(down -2.1 percent in shipments through the third quarter, though
many of their specialty brands are up, so the N.C. plant is probably
down more). Most of this is due to the declining popularity of light
lagers as beer lovers increasingly look for more flavorful beer.”
bart watson,
brewers association beer economist

November 14, 2014 11
A better World Todd Cohen
ItoddcoheN@gmail.com 919-272-2051
NoNprofit Newsspotlight on education
Center supports LGBT community
L
ast spring, when high schools
typically held their proms, 125
teens from throughout the
Triangle and their allies gathered at the
Unitarian Universalist Fellowship of
Raleigh for their own dance.
Sponsored by the LGBT Center of
Raleigh, a nonprofit that serves 700 to
1,000 youth and adults who identify as
lesbian, gay, bisexual or transgender,
the “Second Chance Prom” is one of a
handful of programs that aim to create
a sense of community and provide
support for “sexual minority youth.”
In the wake of the U.S. Supreme
Court decision that let stand an
appeals court ruling allowing same-sex
marriage, the challenge now for the
LGBT movement is to continue to work
for the same rights and opportunities
that most Americans take for granted,
says James Miller, executive director of
the LGBT Center of Raleigh.
“Just because you have marriage
doesn’t mean you are equal in the eyes
of the law,” he says. “We’ve been fighting
for health care, for employment, to make
sure people have a place to live.”
With an annual budget of
$350,000, a staff of two full-time
employees and one part-time, and
150 active volunteers from a core of
500 volunteers who clock more than
12,000 hours of volunteer time per
year, the LGBT Center is one of only a
handful in the South that are thriving,
Miller says.
In addition to the Second Chance
Prom, youth programs at the LGBT
Center also include QueerNC, which
focuses on positive youth development;
ASPYRE, or a Safer Place for Youth to
Reach Excellence, a leadership camp
held in Greensboro over a three-day
weekend each March; and a monthly
get-together in coffee shops that
typically attracts 30 to 60 teens.
Through its SAGE (Services and
Advocacy for GLBT Elders) Raleigh
program for people age 50 and older,
the LGBT Center provides a listserve
with 150 subscribers and serves about
300 people who visit the center on
a regular basis. It also hosts dances,
meets-and-greets, and lunch-and-
learn sessions on topics on a range
of human-development issues such
as health, retirement and marriage.
Its HealthWorks program provides
outreach on health, financial, spiritual,
physical, mental and environmental
issues, as well as HIV testing provided
at its offices twice a week by the Wake
County Health Department.
The center provides mainly social
and educational programs through its
Transgender Initiative, which serves
roughly 500 people a year.
A key focus for the center, Miller
says, is working with straight allies,
supporting policies that are “informed
finally by education and fact and not
by fear,” and “educating people that
the fight is not over.”
Cohen publishes Philanthropy North
Carolina at www.philnc.org. He can be
reached at (919) 272-2051; send nonprofit
news to toddcohen49@gmail.com.
c/o pamela maNsueti
Broker Pamela Mansueti helped
launch a coat drive in Raleigh.
Winter’scomingand
coatsareneeded
johN west
James Miller is the executive director of the LGBT Center of Raleigh.
Pump It UP, Gigi’s Cupcakes, 919
magazine and Pamela Mansueti,
broker-in-charge of the Triangle Real
Estate Group West, launched a coat
drive for The Haven House Services,
which provides comprehensive
services to the youth and families of
wake county.
the drive began Nov. 1 and runs
through the end of the year with
dropoffs at the following raleigh sites:
Z pump it up, 10700 world trade
blvd, suite 112;
Z gigi’s cupcakes, 8521 brier
creek pkwy #105;
Z brier creek swim and tennis
pavilion, 10601 arnold palmer drive.
butterballdonates
birdsforturkeyday
in 2013, 49 million americans lived
in food insecure households, and
North carolina has a household food
insecurity rate of 17.3 percent.
to help ensure local families have
thanksgiving dinner, Butterball is
donating 1,900 turkeys to North
carolina families, including 1,236 in
the triangle, and almost 500 to North
carolina-based military families.
turkeys have, and will be
distributed at Urban Ministries of
durham, Community of Hope in
garner, Archway Foundation/Clayton
Area Ministries and Turkeys for the
Triangle in raleigh.
Change the way
you keep up with
business.
MORE NEWS
MORE PHOTOS
MORE PLACES
MORE OFTENWE DID
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start your 4 week
trial today!
919.327.1026
kleone@bizjournals.com
A Better World.indd 11 11/12/14 6:06 PM

to reimagine their working quarters.
As an industry, law firms typically
have allocated one of the highest lev-
els of square footage per employee and
invested more in finer furnishings and
decor in an office space compared to oth-
er major office space users, but research
shows that law firms are changing their
approach to real estate.
In 2013 when law firms moved from
one building to another, the new build-
ingtheyweremovingintowas7.1percent
smaller than their previous floorplate,
according to real estate research firm JLL.
Economic drivers
Since the end of the recession in June
2009, the number of employees at law
firms nationally, as measured by the U.S.
Bureau of Labor Statistics, is unchanged.
In the Triangle, employment among
the 25 largest law firms in the region is
actually down 1.7 percent compared to
2008, with fewer support staff and para-
legals employed by firms, according to
Triangle Business Journal research.
Revenue for law firms is being chal-
lenged, as some corporate clients move
toward performing legal work in-house
cover story
Today’s Terrain
nationwide, the ratio of law firm revenue generators to administrative staff
has increased in the last decade from 3:1 to as high as 8:1 in 2014.
}3:1
8:1 }
to as high as 15%
Law firms that opt for
more modern layouts
and more efficient work-
spaces can shrink real
estate occupancy
footprints by more than ...
attornEy hEadcount
Triangle legal secTor
in a holding paTTern
Here’s a look at lawyers in the Triangle
from 2008 to 2014. Total partners are
also included in the total attorney
numbers.
attorneys Partners
Support Staff Paralegals
1,063
567
883
324
2008
1,060
588
749
289
2010
2012
1,051
604
886
316
Source: Triangle buSineSS journal’S
book of liSTS
2014
1,060
612
794
322
Lawyers in love
with their new digs
TRIAngLe LAw fIRmS ARe LInIng Up foR mAkeoveRS To
oBTAIn moRe effIcIenT, mILLennIAL-fRIendLy woRkSpAceS
bY aManDa joneS HoYle
ajhoyle@bizjournals.com
919-327-1018, @Tbjrealestate
A
law firm’s office is its lair.
It’s a status symbol, designed
to invoke trust, control and
confidentiality.
That much hasn’t changed since the
era of smoky boardrooms and dark
mahogany libraries, but how law firms
design and utilize their office space is
changing.
Taking cues from clients, Triangle-
area law firms are adding coffee bars and
cafes where partners, associates and staff
can meet for lunch or quick meetings.
They are flipping floor plans so that
partners aren’t the only people with a
window view. At last count, at least a doz-
en law firms in the Raleigh-durham area
have embarked on an ambitious office
remake. They are shrinking the size of
the lawyer’s own personal space and, in
many places, incorporating a one-size-
fits-all model for attorney offices.
All this may be designed for one pri-
mary reason — price pressure. Abun-
dance of competition from smaller firms
ispushingbillingratesdownnationwide,
and companies, individuals and associa-
tionsarefleeingoutfitsunwillingtocom-
promise on billing methods and scale.
while billing rates address the top
line, many law firms are looking for ways
to streamline its cadillac-style physical
space to reduce costs. coupled with the
changing face of America’s workforce,
with the millennials leading the pack, it
has now become essential for law firms
joHn weST
Parker Poe’s new office, being constructed in PNC Plaza Center, features more
light and open spaces.
Centerpiece - Law Firms.indd 12 11/12/14 6:12 PM

NOVEMBER 14, 2014 13
Womble Carlyle in 2015 will be relo-
cating – and shrinking – its offices from
the 68,000 square feet it currently occu-
pies on three floors in the Wells Fargo
Capitol Center tower into about 45,000
square feet on two floors in the new
Charter Square building, under con-
struction about two blocks south on Fay-
etteville Street.
“In a law firm, one of the biggest
expenses is space,” says Johnny Loper,
managing partner at the Raleigh office
of Womble Carlyle. “Clients are always
demanding you be efficient, and in 2008
that drumbeat picked up in frequency
and intensity.”
So when the firm started looking two
years ahead of its lease expiration at the
end of 2015, it looked at ways it could
also make its office space more efficient
and useful. The new Charter Square will
have a more open floorplate, Loper says,
allowing the firm to fit the same number
of people into a smaller space.
Law firms, for example, don’t need
all of the storage capacity previously
required for legal documents and discov-
ery as firms adopt paperless technolo-
gies and systems. Most firms have also
all but done away with the voluminous
libraries that used to be a centerpiece of a
law office, since most statutory and case
law research can be conducted through
online services.
Instead, the emphasis among law
firms is on improved technology, espe-
cially in the conference room areas, more
meeting room spaces or alcoves for col-
laboration, better break rooms and more
modern furnishings and decor.
‘Outside the lines’
When the Parker Poe law firm moves its
Raleigh office from the Wells Fargo Cap-
itol Center tower into its new space in
the newer, taller PNC Plaza tower, it’ll be
taking about the same amount of square
footage as it had before, about 46,000
square feet.
But gone will be the traditional, regal-
blue carpet, the winding grand staircase
in the lobby and the never-ending maze
of hallways to conference rooms and
legal offices. The furniture, lamps and
even the staircase have been tagged for
sale to the highest bidder.
COVER STORY
LAW OFFICE WORK SPACE TRENDS
Small office sizes and
shrinking square footage per
attorney.
Fewer work stations are needed:
Today’s average: 650-
750 square feet per
attorney.
550 sq. ft.
Migrating from as much as
900 square feet per attorney
to as low as 550 square feet
per attorney.
900 sq. ft.
b
When law firms moved from one
building to another in 2013, the new
footprint was on average ...
7.1% smaller
24,554 sq. ft.
Average floor plan.
SOURCE: JLL’S LAW FIRM PERSPECTIVE
and as some firms move away from the
“hourly rate” equation toward alterna-
tive fee arrangements such as fixed fees
or “value billing.”
A U.S. Census Bureau measure of total
legal services revenue shows that total
revenue growth nationally has been ane-
mic at best, with an average 1.6 percent
increase in yearly revenue in each of the
past five years.
Time for redesign
Over the last 18 months, at least a doz-
en law firms in the Triangle have either
expanded, relocated or hired an archi-
tecture firm to evaluate the changing
technology and real estate needs of their
legal teams and staff.
Law firms make up about 7 percent
of the Triangle’s total office market. That
compares to 8 percent in Charlotte, 16
percent in Atlanta and 11 percent in New
York City, according to a research report
from JLL.
Only three law firms (soon to be two)
in the Triangle, occupy spaces of 50,000
square feet or more, all in downtown
Raleigh: Smith Anderson in the Wells
Fargo Capitol Center building; Poyner
Spruill in the PNC Plaza building; and
Womble Carlyle Sandridge & Rice.
“In a law firm, one of the
biggest expenses is space.”
JOHNNY LOPER,
Womble Carlyle, Raleigh managing partner
CONTINUED ON PAGE 14
The grand staircase at Parker
Poe’s old office, which reflects
a much more traditional vibe.
A tradeoff in the new space, says Park-
er Poe’s Raleigh managing partner Kevin
Chignell, will be that all attorney offices
will be the same universal size, about 10
feet by 13 feet, or about half the size of the
large corner offices in the old building.
“Instead of traditional corner offic-
es, we turned all corner spaces into col-
laboration areas where groups can meet
informally, work on cases and exchange
ideas,” he says.
Working with Gensler as its archi-
tect, Chignell says they told the group to
come up with a design that was so dif-
ferent from the traditional law firm that
it would be rejected by its board of direc-
tors. “We really wanted them to color
outside the lines,” he says.
They used frosted glass panels next
to all office doors to bring light into the
core, and glass is featured at the end of
every east-west hallway to make sure
that even the paralegals and legal assis-
tants are not shut out from the stunning
window views.
All 10 of the conference room areas
for clients and visitors are now clustered
on one floor, featuring the latest in audio
and video technology as well as a cater-
ing kitchen.
One of the most expensive features of
the new space is the two Skyfold doors
installed within the ceiling of the largest
conference room that can be deployed to
fold down to create two or three small-
er conference rooms. Chignell estimates
the Skyfold doors cost about $80,000
each, but they have the same effect as
a fully constructed wall in both appear-
ance and acoustical dampening for con-
fidential meetings with clients.
In the front lobby, there’s an eclectic
10-by-8 LED art display of interlocking
propellers that would seem more fitting
in a technology firm or spa than a law
office. The firm plans to partner with a
local art group to incorporate a rotat-
ing art exhibit rather than commission
expensive art pieces.
“We don’t have a lot of finishes, but
we’ve tried to maximize what we do
have,” says Parker Poe partner Jeff Ban-
dini, leader of the firm’s real estate prac-
tice, who’s helped lead the relocation
process. “Our Raleigh office is younger
JOHN WEST

than most of our other offices, so we tend
to be a little edgier.”
But not all law firms are going to that
extreme.
When the Ellis & Winters law firm of
Cary moves its office into the new Glen-
Lake Five office building in west Raleigh
in February, the configurations will not
be drastically different from what they
are now, says founding partner Mike
Winters.
“We don’t need a lot of collaborative
space, because collaboration tends to be
not confidential,” he says. “I’m not sure
where this notion that lawyers sit around
and talk about cases came from, but I’m
not buying it.”
Cultural shift
John Warasila, founding principal with
Alliance Architecture in Durham has
worked with about eight different law
firms in the Triangle over the past few
years in redesigning their workspac-
es, and a common theme among all of
them, he says, is about keeping with
the culture of the firm and creating
more flexibility.
“Firms that were built in 1980 with
the wood-paneled conference rooms
were not built for the technology of
today,” Warasila says. “Using systems
furniture for secretarial and paralegal
stations helps the firm manage chang-
ing roles and assignments over the life
of the lease.”
Many firms are also going through a
culture change, he says, as younger attor-
neys bring new ideas and expectations
for the workplace.
The Wyrick Robbins Yates & Ponton
law firm office in west Raleigh, which
often represents technology compa-
nies, completely overhauled its office
space over the course of nearly a year
last May.
The space before was connected only
by elevator, so they cut a hole in the floor
and built new staircases. They did away
with the two small break rooms and built
a new cafe area, dubbed “Periodic Table,”
which is a focal point of the building and
can seat 60 people.
“We moved into this space in 1989,
and when we started we didn’t have even
a full floor,” remembers Merrilee Carl-
son, executive director of the firm. “As
the firm grew, we took more space but it
was still very disjointed. We wanted our
design to link up with our brand.”
Carlson says they tested the option
of making the lawyer offices uniform in
size, but the additional cost in renovation
far outweighed the benefits of the extra
space they would gain.
Instead, they brought in more glass to
let in more light and switched to lighter
wood and livelier colors.
“It feels more energetic,” she says.
“Casually sophisticated.”
Footprints of the future
A JLL research study shows that the
rightsizing wave among law firms is
peaking but will continue to evolve as
rent rates increase and a younger gener-
ation of lawyers come in with different
expectations for the workplace.
“For the majority of firms, they are
looking at real estate as a way to increase
profitability by reducing cost,” says John
Sikaitis, senior vice president and direc-
tor of office research for JLL.
Ten years ago, a law firm would have
about 850 to 950 square feet of space per
lawyer on staff, Sikaitis estimates. Today,
that ratio is closer to 600 to 650 square
feet per lawyer and as low as 550 square
feet per lawyer in expensive metro areas
like New York City and Washington, D.C.
In London, law firms have already
movedtowardanopenworkspacemodel.
“That’s not been embraced by culture
here yet,” he says.
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COVER STORY
CONTINUED FROM PAGE 13
JOHN WEST
Merrilee Carlson, executive director of Wyrick Robbins Yates & Ponton, in
Raleigh, in the firm’s large, new cafe area, dubbed the “Periodic Table.”

november 14, 2014 15
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12101_71_AD_PRI_TriangleBizJrnl.indd 1 11/4/14 12:43 PM
Photos of the Week.indd 15 11/11/14 4:42 PM

EXECUTIVE VOICE: BROOKS HAMAKER
BY DAWN WALLACE
dwallace@bizjournals.com
919-327-1015, @TriBizTrends
In 1986, equipment to
set up a microbrewery
wasn’t readily
available. Brooks
Hamaker and his
business partners
turned to the Midwest, where a
recent boom in dairy led farmers to
upgrade equipment to industrial-scale,
making small-scale equipment cheap
for would-be brewers. That’s how
Louisiana-based Abita Brewing Co.
was born.
Since then, Hamaker has become
a sought-after consultant, specialized
in the “brewery-in-a-box” method:
He guides brewery owners in the
general contracting process, sourcing
materials, brewing beer, hiring
employees and anything else required
to get the brewery running.
He’s learned a variety of culinary
skills, writing, electrical and
plumbing, and general contracting
know-how along the way. Now based
in Raleigh, his adventures include
setting up Fullsteam Brewing Co. in
Durham and now Blackjack Brewing
Co. in Raleigh. He’s also had projects in
Ireland, Mexico and Hong Kong.
How did you go from being a brewer
to becoming a consultant for brewers?
When we opened Abita in 1986, there
was no one to ask or call. The Internet
pretty much didn’t exist. We had to
learn how to do it ourselves. We opened
what was essentially the first new
brewery in the South. Right after it got
going, people came to us for advice. We
didn’t charge at first. After a friendly
forced-buyout at Abita, I worked for
Sazerac Group distributing. They started
American Craft Brewing Int. Ltd., and
would find partners outside the U.S.
in distributing and get them to open
microbreweries. It was slightly before
its time. We would go and help set them
up, hire people and train them.
How do you teach quality and style
when it comes to brewing? It definitely
comes over time. Before Abita, I
homebrewed about a half-dozen times,
and I promise you all of them were
bad. But being a chef and a brewer
are not so different. It’s all about the
ingredients.
I heard you set up a brewery in
Ireland. How did you find brewers
there? We hired graduates from dairy
studies. It’s relatively the same, in
regard to cleanliness. That was in
Enfield, in West Meath. Literally the
middle of nowhere, so the employees
had to be fine with a small town
with only two pubs. As a boy from
Louisiana, I was right at home. We
were making American-style beers.
How did you end up in Mexico?
Same thing, with the company. The
one in Mexico was huge. It was called
Cervezeria Mexicana. There we hired
kids from a local industrial college
and science students of some sort
and taught them the trade. The first
product we made was Mexicali, which
is older than Corona. The owners of the
brewery wanted us to recreate their
beer, and we did. They literally handed
me a recipe from the ‘20s, and most
of the ingredients didn’t even exist
anymore. So we tweaked it until they
were happy with what we got. It was
essentially a Mexican lager.
Can you tell if a brewery you assist
isn’t going to make it? It’s a gut
feeling. There are a lot of home
brewers and people who jump ship
from their jobs. Anyone can build
it, but the catch is you’ve got to sell
the product. Now there’s a lot more
competition than 20 years ago. You
have to do it right to stand out.
What’s a classic red flag that a
brewery is going under? It’s just like
a restaurant, which suddenly starts
opening for brunch and doing a lot
of promotions. If they start doing
something extra that doesn’t really
benefit them, that’s a red flag.
You said you find yourself facing
investors often. How do you entice
them to invest? Most of the ones that
invest are already interested in beer.
They tend to be angel investors. They
aren’t worried about getting their
money back anytime soon. Most
breweries are funded by friendly
money. Some investors are really
interested in being able to go to a
brewery and getting free beer. Trust
me, that’s a big part of it for these
guys.
I have to ask: What’s your favorite
beer? That’s an impossible question.
From the standpoint of growth of
microbreweries from 1980 to now, I
like a fresh Amber Steam or Sierra
Nevada Pale Ale. Those have probably
been the most influential in the last 30
years.
What’s the most difficult part of your
job? Patience, but it has gotten easier.
JOHN WEST
Master brewer Brooks Hamaker of Raleigh has built a business helping breweries launch their companies.
Master
brewer
for hire
RALEIGH BREWERY
EXPERT FOUND NICHE
IN CONSULTING
Q&
A
Name: Brooks Hamaker
Title: Master brewer/brewery
consultant
Age: 53
Family: Sons Miles (23) and Graham (21)
First job: Abita Brewing, Abita
Springs, Lousiana
R A CLOSER LOOK
CONTINUED ON PAGE 17
Executive Voice.indd 16 11/12/14 6:22 PM

NOVEMBER 14, 2014 17
FAMILY BUSINESS
How indecision can impede a business
In the past four
months, Chuck has
called me ﬁve times
and sent me more
than two dozen
emails. It seems
that he picked
up on a column I
wrote last summer
and has been
trying to put new
ideas to work in his
family’s business.
“Look, Chuck,” I told him, “It’s
always a pleasure talking with you.
But you’re going to have to do more
than chat on the phone if you want to
straighten out your business problems.”
“I know,” he answered. “But am I
moving in the right direction?”
“Right direction?” I asked. “You’re
not moving in any direction, Chuck.
We’ve exchanged a lot of words since
last July. But you’re not one step closer
to making changes in your business
today than you were four months ago.”
“Let’s go over it one more time,” he
said. “Then I’ll swing into action right
after the ﬁrst of the year. OK?”
“My son Todd has been working in
the business for the past 13 or 14 years,
and he’s ready to take over the top job
just as soon as I retire. But after my
daughter’s marriage went on the rocks,
she wanted to come back home from
California and go to work in the family
business, too. She’s a crackerjack with
marketing. Clear?”
“Yes, Chuck, that’s the way you’ve
explained it to me several times,” I said.
“OK, so my wife is really pushing me
to let my daughter Caroline come into
the business as a full partner with my
son Todd,” Chuck said.
“Yes, I know,” I sighed. “Todd resents
any prospect of Caroline coming in as
an equal partner, because she’s been
out doing other things while he’s been
earning his spurs in the business.”
“Oh, have I told you about that,
too?” Chuck said. “Anyway, Todd says
he’s entitled to majority ownership of
the company and the president’s job,
too, as a reward for all his hard work.
Caroline says she’s entitled to half the
stock and a co-presidency because
she’s my kid, too.”
“And your wife ...” I began.
“And my wife is ready to use her 10
percent share to keep things up in the
air unless I do things her way,” he said.
“So I guess my problem is ...”
“You want to know what your
problem is, Chuck?” I asked. “You’ve
got to give your family a plan for
ownership and management succession
that makes the best use of each child’s
strengths while focusing on the best
long-term interests of the business. I’ll
be happy to help you, but I think you’ve
had that plan in your head for months.”
There was a silence before Chuck
asked, “So how come I still have the
problem?”
“Because the plan is still just a
dream. You haven’t put anything
together in detail, tested it with expert
advisors, and then stood up in front of
the family and announced it,” I said.
“Chuck, you’re the senior owner of
your business and the head of your
family. Those are leadership jobs, and
leadership demands decisiveness.
Start by telling yourself how the
next generation of ownership and
management will be handled and then
tell the others who need to know.”
“I wish this whole thing would just
work itself out,” he said morosely.
“Maybe the kids can come up with a
plan by themselves.”
“Things almost never just work
themselves out, Chuck,” I said. “You’ve
got to take responsibility for putting the
future of your business together – and
then putting it in motion. If planning
is the key to family business succession
success, then indecisiveness is the key
to its failure.”
Lea is a professor at the University of
North Carolina at Chapel Hill and a
family business speaker, author and
adviser. Contact him at james.lea@
yourfamilybusiness.net.
The Internet has made it easier. It’s
not an experiment anymore, and I’ve
gotten to know people in the industry
so well, now they come to me. It’s a
club, but on a global level.
What is hardest for brewery owners
to hear? “It’s going to take longer
than you thought, and it’s going to
cost more than you think it is.” A
lot of little stuff adds up, like the
$1,000-worth of tools they suddenly
need. They are big undertakings.
There’s often talk of a beer
“bubble.” Do you think the Triangle
market is headed for saturation? No.
Here, the breweries are spread out
enough to where they’ll do fine.
Why have you chosen to settle down
in the area? I have a lot of friends
here and I liked Durham when
I worked with Sean Lily Wilson
of Fullsteam. I’ll continue to do
consulting work on the side, but I’m
staying here.
What’s your advice for the craft
brewer community here? I’d like to
see more lagers here. Everybody’s
always got to have their IPAs,
because people don’t know how to
order anything else. Most breweries
now – not just in North Carolina –
are producing ales because they are
quick and easy and recognizable
nowadays.
CONTINUED FROM PAGE 16
James
Lea
A T L A N T A | C H A R L E S T O N | C H A R L O T T E | G R E E N S B O R O | G R E E N V I L L E | R A L E I G H | W I L M I N G T O N
Bob Wilson, Partner-in-Charge, Raleigh office | 919.755.8823
Smith Moore Leatherwood LLP | www.smithmoorelaw.com
M E M O R A N D U M
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Executive Voice.indd 17 11/12/14 6:27 PM

CEO name/Business name
Address/
Phone
Most recent reportable
compensation
Organization's 2013 tax year
revenue Organization description
11 William Hudson/LC Industries Inc. 1810 E. Main St., Durham 27703
919-596-8277
$916,105 $56,925,019 Provides quality employment to Durham residents with blindness
22 Pape Gaye/Intrahealth International
Inc.
6340 Quadrangle Dr., #200, Chapel
Hill 27517
919-313-9100
$379,141 $90,427,259
To improve the quality and accessibility of health services for people in
need around the world
33 Elizabeth Maguire//IPAS USA 300 W. Market St., Durham 27516
919-967-7052
$344,619 $54,344,925
Educates women on the rights to reduce deaths and injuries of women from
unsafe abortions
44 Steven Wegner/AccessCare1
3500 Gateway Centre
Blvd., #130, Morrisville 27560
919-380-9962
$300,462 $26,579,866
To provide medical care to Medicaid, Medicare and uninsured populations
of North Carolina
55 Doug McMillan/YMCA of the
Triangle Area
801 Corporate Center
Dr., #200, Raleigh 27607
919-719-9622
$270,084 $68,274,607
To help people develop values and behavior that are consistent with
Christian principles
66 Dennis McLain/Goodwill
Community Foundation
4808 Chin Page Road, Durham 27703
919-941-9600
$250,500 $37,602,496
Provides an environment for people to improve the quality of their lives
through employment and learning opportunities with a focus on persons
with disabilities
77 Connie Cochran/Easter Seals UCP
North Carolina Inc.
P.O. Box 27707, Raleigh 27607
919-832-3787
$217,457 $88,761,923
Mission is to advance the interdependence, productivity and full citizenship
of people with disabilities
88 Jonathan Erickson/United
Methodist Retirement Homes Inc.1
2600 Croasdaile Farm
Pkwy., Durham 27705
919-384-3010
$199,493 $43,537,653
To provide quality care and services for an inclusive and diverse population
of senior adults
99 Brian Toomey/Piedmont Health
Services Inc.
299 Lloyd St., Carrboro 27510
919-933-8494
$192,807 $34,954,410 Ambulatory health care services
1010 Dennis Sprung/American Kennel
Club1
8051 Arco Corporate
Dr., #100, Raleigh 27617
919-233-9767
$177,612 $56,736,112
To advance the study, breeding, exhibiting, running and maintenance of
purebred dogs
1111 Peter Werbicki/Food Bank of Central
and Eastern North Carolina
3808 Tarheel Dr., Raleigh 27609
919-875-0707
$175,709 $99,340,554
Distributes food to nonprofit agencies that serve the hungry in central and
eastern North Carolina
1212 Richard Joanis/Telamon Corp.1 P.O. Box 33315, Raleigh 27606
919-851-7611
$174,856 $63,588,073
Provides assistance to people in rural areas struggling with societal
changes
1313 John Mendito/The East Coast
Migrant Head Start Project
4901 Glenwood Ave., Raleigh 27607
800-655-6831
$172,214 $56,261,604
To provide continuity of Head Start services to children of migrant farm
workers on the east coast of the U.S.
1144 Wendy McAlister/College
Foundation Inc.
2917 Highwoods Blvd., Raleigh 27604
888-234-6400
$169,901 $38,164,459
To help students prepare successfully for college and to find the best
financial aid alternatives
1515 Philip Harewood/Lincoln
Community Health Center Inc.
P.O. Box 52119, Durham 27717
919-956-4000
$163,670 $25,886,495
To provide comprehensive health care in a courteous, professional and
personalized manner
1616 Kevin McDonald/TROSA Inc. 1820 James St., Durham 27707
919-419-1059
$150,210 $12,854,462 Focuses on helping recovering drug and alcohol abusers change their lives
1717 Stephanie Fanjul/North Carolina
Partnership for Children Inc.
1100 Wake Forest Road, Raleigh 27604
919-821-7999
$143,435 $99,066,609
A comprehensive public-private initiative to help all NC children enter
school healthy and ready to succeed
1818
Jennifer Tolle Whiteside/North
Carolina Community Foundation
Inc.
4601 Six Forks
Road, #524, Raleigh 27609
919-828-4387
$142,241 $19,428,834
Serves charitable donors, nonprofit organization and communities
statewide
1199 Tracey Sheriff/Autism Society of
North Carolina
505 Oberlin Road, #230, Raleigh 27605
919-743-0204
$138,415 $16,430,342
Organization providing a variety of services for people with autism
spectrum disorder and their families
2200 Bruce Stanley/The Methodist Home
for Children
1041 Washington St., Raleigh 27605
919-833-2834
$127,550 $13,002,302 To provide child and family services
2121
Victoria Whitt/Sandhills Center for
Mental Health Developmental
Disabilities
1120 Seven Lakes Dr., West End 27376
800-256-2452
$123,348 $152,606,467
To develop, manage and assure that persons in need have access to quality
mental health, developmental disabilities, and substance abuse services
2222 Susan Russell/Child Care Services
Association
P.O. Box 901, Chapel Hill 27514
919-967-3272
$120,989 $26,418,948
A United Way agency helping to ensure the affordability, accessibility and
quality of child care
2323 Patrick Woodie/NC Rural Economic
Development Center
4021 Carya Dr., Raleigh 27610
919-250-4314
$120,1422 $44,119,617
Designs, implements and promotes sound economics that improve the
quality of life of rural North Carolinians
2244 Pamela Dowdy/Wake County
SmartStart
1121 Situs Court, #350, Raleigh 27606
919-851-9550
$115,495 $12,030,624
Works to ensure that every child is healthy and prepared for success in
school and life
2525 John Thoma/Transitions Life Care3
1300 St. Mary’s St., 4th
Floor, Raleigh 27605
919-828-0890
$110,100 $24,116,388
To provide medical care to the terminally ill and to provide counseling to
family members
1 All figures are from 2012.
2 As VP for rural development. He transitioned to the role of CEO toward the end of 2013.
3 Transitions Life Care was founded as Hospice of Wake County.
$5.3MThe cumulative total of
reportable compensation of
the CeOs on The list.
A Different View
Here’s a look at the top five
nonprofits in the Triangle,
based on 2013 tax year
revenue.
Sandhiils Center $152M
Food Bank $99.3M
nC Pshp for Children $99.1M
intrahealth $90M
easter Seals UCP $88M
ABOuT THe LisT
information was obtained
from data gleaned from 990
tax forms.
neeD A COPY
OF THe LisT?
information for obtaining
reprints, web permissions
and commemorative
plaques, call 877-397-
5134. More information
can be found online at
TriangleBusinessJournal.com
by clicking the “Buy” tab
near the top of the site.
WAnT TO Be
On THe LisT?
if you wish to be surveyed
when The list is next
updated, or if you wish to
be considered for other
lists, email your contact
information to Cameron
Snipes at csnipes@
bizjournals.com.
R closer look
HigHest Paid NoNProfit Ceos
ranked by latest reportable compensation
Compiled by Cameron Snipes
919-327-1022, @TriBizBOL
csnipes@bizjournals.com
HighestPaidNonprofitCEOsLIST1114.indd 18 11/12/14 12:31 PM

november 14, 2014 19
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133 Fayetteville St
Suite 100
Raleigh, NC 27601
919-235-0830
4505 Falls of Neuse Rd
Suite 100
Raleigh, NC 27609
919-256-6800
2000 Regency Pkwy
Suite 150
Cary, NC 27518
919-334-6990
210 North Main St
Fuquay-Varina, NC 27526
919-577-2265
Salary
Geography
Here’s a look at
where in the
Triangle these
nonprofit CEOs
are based.
14
raleigh
6 Durham
2
Chapel Hill
morrisville
Carrboro
West end
1 ea.
R nonprofit comp report
GuideStar, a nonprofit that provides
information on the programs, finances
and impact of more than 1.8 million IrS-
recognized nonprofits nationwide, released
its 2014 GuideStar nonprofit Compensation
report in September of this year. Here are a
few key findings from the national report:
Z For the 14th year in a row, median
compensation for female Ceos lagged
behind that of respective male Ceos
by up to 23 percent, depending on the
organization size.
Z only 17 percent of organizations
with budgets larger than $50 million
had a female Ceo, compared to smaller
organizations with less than a million-
dollar budget, the majority of which have
women Ceos.
Z As usual, health and science
organizations had the highest overall
median salaries. Arts, religion, and animal-
related organizations brought up the rear.
Z For the ninth consecutive year,
Washington, D.C., had the highest overall
median salary of the top 20 metropolitan
statistical areas. For the second
consecutive year, Portland, oregon, had
the lowest median salary, although Ceos
in oakland, California, had the lowest
purchasing power when adjusted for cost
of living.
HighestPaidNonprofitCEOsLIST1114.indd 19 11/12/14 3:14 PM

TBJ 2014 JAB Article

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