The Week in Business
Dell to offer Red Hat Linux
Triangle Business Journal
Red Hat Software announced that Dell Computer will distribute its Red Hat Linux operating system on certain computers and servers. With Red Hat's certification of certain Dell systems, Red Hat Linux can be purchased either preinstalled on Dell equipment or in an individual package. Recently, Red Hat struck a similar deal with Hewlett-Packard. Red Hat, a privately-based company in Durham, sells Red Hat Linux as an alternative to Microsoft's Windows operating system.
Glaxo Wellcome announced that it has received Food and Drug Administration approval to sell a new formulation of Zofran, a widely-used treatment used by chemotherapy patients.
The new formulation of Zofran is a tablet that quickly dissolves when placed on the tongue. Zofran is a drug used to control nausea and vomiting, and is typically administered by injection.
Delta Corporate Services, a Parsippany, N.J.-based computer consulting company, has opened a 1,500-square-foot center in Cary. Located on Maynard Road, the center will eventually employ 15 consultants, as well as an unspecified number of support staff. It is Delta's fourth center; currently, the company has operations in New Jersey, New York City and Dallas. The company provides consulting services to large corporations.
Michael Jordan plans a 13,000-square-foot restaurant at 202 W. Franklin St. in downtown Chapel Hill. Antoine Puech is the developer of the project of The Pavillion office and retail complex that will house the restaurant.
First Union Corp. started a program to cut costs and may trim jobs, the Charlotte-based bank said. The bank previously said a slowing economy, higher expenses and an accounting change would cut earnings growth in 1999.
Interactive Magic launched the iMagic Entertainment Network, an Internet entertainment site. The site will generate revenues through advertising, e-commerce, subscriptions and premium "pay-per-play" games. The site will feature I-Magic's WarBirds fighter simulation game, as well as free games, news, software downloads and game reviews. I-Magic, based in Morrisville, is a producer of Internet-based and CD-ROM-based computer games.
ICAgen Inc. of Durham entered into a research and development alliance with Incyte Pharmaceuticals, a publicly traded pharmaceutical concern in Palo Alto, Calif.
Financial terms weren't disclosed. Under the agreement, the companies will compile a collection of all known cellular ion channels, as well as the channels' operation in normal and diseased tissues.
ICAgen is a drug development company based on the operation of ion channels, which control the flow of particles in and out of the body's cells.
North Carolina State University has proposed combining its endowment fund with 14 private foundations that raise money for the university. The joint fund, called the N.C. State Foundation Investment Fund, would then be managed by a team of seven professional money managers.
University officials said the move would help boost returns on the money now donated to the foundations. In the fiscal year ended June 30, the foundations averaged a 16.7 percent return, compared to 21 percent for the N.C. State endowment fund.
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