For the Record – Northern Virginia, August 2013

​McLean-basedCapital One Financial Corp.plans to buy back as much as $1 billion of its stock. The stock purchase will take place if Capital One completes the sale of its portfolio of Best Buy Co. private-label and co-branded credit cards to Citigroup Inc. If the sale closes, the Federal Reserve has told Capital One it may buy back the shares through March 31.(Richmond Times-Dispatch)Data center operatorDuPont Fabros Technologyhas begun work on a new data center, adding on to its Ashburn Corporate Center campus. The new facility will be the largest project yet for the data center developer, with 41.6 megawatts of power. The data center is expected to be finished by the second quarter of 2014, according to Hossein Fateh, president and CEO of DuPont Fabros Technology.(LoudounTimes.com)

McLean-basedGannett Co.  Inc. plans to acquire Dallas-based media company Belo Corp. in a deal valued at $2.2 billion.  Gannett said the deal would create a broadcast “super group,” making the company the nation’s fourth-largest owner of major network affiliates, reaching nearly a third of all U.S. households. The number of Gannett TV stations would nearly double from 23 to 43, including stations to be serviced by Gannett through shared services or similar sharing arrangements. The deal is expected to close by the end of the year.(VirginiaBusiness.com)

New York-basedJPMorgan Chase & Co.announced it would lay off 84 people in its Falls Church mortgage servicing office on July 6. The cuts are among about 1,800 nationally, which will be spread across several JPMorgan mortgage servicing offices. (Washington Business Journal)

Metro’s Silver Linewas expected to open this December, but a top official at theMetropolitan Washington Airports Authoritynow says that the official launch date will not be until early next year. “The project from the contractor is expected to be completed by the end of September or in early October, so we’re now projecting January 2014,” says Sam Carnaggio, director of the Dulles Corridor Project at MWAA. Carnaggio says construction work is about 94 percent complete, with the remaining work being mostly cosmetic.(WTOP.com)

Falls Church-basedNorthrop Grummanand Bethesda, Md.-based Lockheed Martin said they’ve won a $91 million contract for radars to be used on Saudi Arabia’s Apache attack helicopters. The companies said the contract is for Longbow Fire Control Radars for the Royal Saudi Land Forces Aviation Command and the Saudi Arabia National Guard, spares and support for the aviation command and Longbow mast-mounted assemblies for the U.S. Army.(The Baltimore-Sun)

The federal government plans to relocate theNational Science Foundationfrom Ballston to the Eisenhower Avenue area of Alexandria in 2017, in what would constitute one of the largest transfers of federal workers in Northern Virginia since the Patent and Trademark Office departed Crystal City for Alexandria in 2005. The NSF funds a wide array of science and engineering research. It is among the largest employers in Arlington with more than 2,100 headquarters employees, contractors and scientists.(The Washington Post)

Under a potential $150 million blanket purchase agreement,Qinetiq North Americain Reston will provide IT and software development services to the General Services Administration. QNA will provide these services to GSA’s Public Buildings Service headquarters and GSA’s 11 regions. Services are anticipated to include custom application development and support, business system modernization, building and energy systems, infrastructure support and other technical services.(Washington Business Journal)