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Recent Articles from Kate Andrews
Altria plans to sell 35M Anheuser-Busch InBev shares
Henrico County-based Altria Group announced Wednesday it hopes to sell 35 million ordinary shares in Anheuser-Busch InBev in a public offering. The proceeds — estimated by Bloomberg at up to $2.2 billion — will go toward repurchases of Altria’s common stock, according to the Fortune 500 company’s statement. Altria, parent company of tobacco manufacturer Philip […]
Youngkin: Va. Senate making ‘colossal mistake’ in rejecting arena
After news broke Wednesday that Virginia lawmakers had dropped all mention of the proposed Alexandria sports arena authority in their amended 2024-26 state budget, Gov. Glenn Youngkin responded Thursday by blasting the Democratic-controlled Virginia State Senate’s leadership, which has killed every opportunity for a floor vote on the arena legislation. “I believe the Senate is [&hellip[...]
Liberty University fined $14M for underreporting campus crime
The U.S. Department of Education has fined Liberty University a record penalty of $14 million for underreporting crime on campus, in a Clery Act settlement announced Tuesday. The amount far outstrips the department’s previous highest-ever fine, $4.5 million, assessed in 2019 against Michigan State University for the gymnastics sexual abuse scandal involving Dr. Larry Nassar. […]
Health Care: A new horizon
Virginians could look back at 2024 a few years from now and see a turning point for health care in the commonwealth — the dawn of a “Virginia Research Triangle” in biotechnology, pharmaceutical manufacturing and medical research. In December 2023, the University of Virginia broke ground on the $350 million Paul and Diane Manning Institute […]
Professional Services: Making it legal
Continuing a trend of the past several years, mergers and growth continue to be in fashion among law firms. McGuireWoods, the largest firm headquartered in Virginia, has its eye out for new partners, firm Chairman Jon Harmon said in 2023. “I believe the legal industry is consolidating, and that, over time, there’s going to be […]
Financial Services: Signs of health
What’s that we hear? Is the economy growing healthier? It’s getting stronger for sure, Federal Reserve Bank of Richmond President and CEO Tom Barkin said in January during the 2024 Financial Forecast event co-hosted in Richmond by the Virginia Bankers Association and the Virginia Chamber of Commerce. Inflation was 3.4% in December 2023, inching closer […]
Education: Getting their money’s worth
The past year brought more big donations to Virginia’s universities, as well as the installation of a few new presidents, while students and families remained focused on finances and return on investment. In Virginia Business’ August 2023 cover story, “Money machine,” the magazine examined the soaring costs of a four-year degree over the past decades, […]
Leadership: On the move
Patrick Bain, president and CEO, The Long & Foster Cos., Chantilly In March 2023, Bain was promoted to lead the real estate giant after joining Long & Foster in 2010 as president of its insurance and home warranty businesses. Along the way, he took the reins of the property management and rental service center branches, […]
Economic Development: Keep on keeping on
In 2023, Virginia racked up another year of economic development wins in the manufacturing sector. Meanwhile, Gov. Glenn Youngkin continued his push toward producing more shovel-ready industrial sites in the state, one of his key priorities since taking office in January 2022. In November 2023, the U.S. Department of Energy announced that the Southern Virginia […]
2024 Big Book intro: Invasion of the bots!
If it feels like robots took over our lives this past year, that’s because they have. Many of us have used ChatGPT to write an email, created an idealized self-portrait with Midjourney or seen a deepfake on X. Everyone has at least read marketing texts or emails created by a generative AI tool. To different […]
