Sign In
Free Newsletter
Recent Articles from Katherine Schulte
Va. Lottery reports record $4.6B in FY23 revenue
Virginia Lottery reported $4.6 billion in sales for fiscal 2023, the first time its sales have broken $4 billion, and record profits of $867 million. Profits increased almost 10% from the last fiscal year, when the lottery reported $779.6 million. The lottery’s fiscal year ends on June 30, and the lottery board announced the results […]
VIPC leader to step down
Virginia Innovation Partnership Corp. President and CEO Robert “Bob” Stolle will step down from his role in September after 13 years with the not-for-profit state corporation and its predecessor. Stolle became CEO of VIPC’s predecessor, the Center for Innovative Technology, in 2020. Before that, he was the economic development organization’s senior vice president for operations. [&[...]
KPMG names Richmond office managing partner
Wendy Lewis was promoted to managing partner of KPMG LLP’s Richmond office on Aug. 1, overseeing more than 235 employees based there, the New York-based professional services firm announced Wednesday. Lewis, also a partner in KPMG’s audit practice, succeeds Paul Croston, who will retire on Sept. 30 after 33 years with the firm. “I am […]
Steampunk wins pregnancy discrimination lawsuit
A federal jury ruled on Friday that a McLean-based IT federal contractor did not discriminate against a former employee on the basis of pregnancy or retaliate against her. The eight-person jury’s decision was unanimously in favor of Steampunk Holdings and its subsidiary, Steampunk Inc., after a five-day trial in the U.S. District Court for the […]
Bon Secours sues Anthem for $93M
Health system Bon Secours filed suit against insurer Anthem Health Plans of Virginia Monday in Henrico County Circuit Court, alleging Anthem owes Bon Secours $93 million in unpaid claims. The plaintiffs, collectively titled BSMH Virginia, allege that Anthem Health Plans of Virginia (doing business as Anthem Blue Cross and Blue Shield) failed to pay “in […]
Four Prince William shopping centers sell for $52.8M
A portfolio of four regional shopping centers in Prince William County’s Dale City area has sold for $52.8 million, the joint venture of buyers announced Monday. Located less than 3 miles apart along Dale Boulevard, the 1970s-era shopping centers — Center Plaza, Mapledale Plaza, Forestdale Plaza and Glendale Plaza — total 470,000 square feet on 70 […]
Henrico shopping center sells for $10.1M
A neighborhood retail center in Henrico County sold for $10.1 million on Aug. 17. Named The Shops at Wellesley, the 42,318-square-foot shopping center is located at 3416-3470 Lauderdale Drive. The center was built in 1992 and occupies a 6.99-acre lot, according to county property records. It was 94% leased at the time of sale with […]
New federal per diem rates provide bump for hotels
The federal government‘s fiscal 2024 per diem reimbursement rates — released Aug. 16 by the General Services Administration — will largely benefit Virginia’s hotels, but not necessarily its restaurants. The continental United States (CONUS) rates — dictating lodging allowances and meals and incidental expenses (M&IE) for federal employees while traveling — will be effective[...]
ABC reports almost $1.5B in FY23 revenue
The Virginia Alcoholic Beverage Control Authority reported $1.47 billion in gross revenues for fiscal year 2023, up $54.3 million over the prior fiscal year, on Wednesday. The reported revenue is a record for the authority. This is the fifth year that ABC has brought in revenues above $1 billion. As a division of the state […]
Virginia Housing CEO to retire
Virginia Housing CEO Susan Dewey will retire Dec. 31, after 24 years heading the Richmond-based authority. “Under Susan’s leadership, Virginia Housing made critical and timely strategic changes over the years to position us for success,” Bill Shelton, chairman of the Virginia Housing Board of Commissioners, said in a statement released Tuesday. “We thank her for […]
