Recent Articles from Katherine Schulte
Breeden promotes five property management employees
The Breeden Co. has promoted five employees in its property management division, the Virginia Beach-based real estate company announced Thursday. The five employees are Rachel Blanchard, Lisa Capps, Sheena Obermark, Tiffany Rote and Samantha Schuman. Blanchard, who was previously a project manager, has been appointed director of training and implementation. In May, a Breeden social […]
Fed’s Fifth District economy grows modestly
Economic activity in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew modestly from early September, according to the latest edition of the Fed’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions gathered [&hellip[...]
SEC, Hampton managing partner of BFM Fund settle charges
The Securities and Exchange Commission settled charges in early October against a Hampton-based managing partner of The BFM Fund and a limited liability company for allegedly breaching their fiduciary duties and misleading investors. Himalaya Rao-Potlapally of Hampton is a managing partner of Portland, Oregon-based BFM Fund, a seed-stage private venture capital fund focused on founders […]
Va. pending home sales, prices rose in September
Pending home sales in Virginia rose in September — increasing almost 14% from September 2023 — suggesting more buyers are entering the market, according to Virginia Realtors data released Tuesday. Last month, 8,065 homes sold in Virginia, a less than 1% increase from September 2023. Although closed sales remained relatively flat year-over-year, pending sales rose, […]
Va. agricultural damage from Helene totals $159.3M
Hurricane Helene’s agricultural damage in Virginia totals more than $159.3 million, according to Virginia Cooperative Extension agents’ research. Hurricane Helene made landfall on the Gulf Coast in Florida as a Category 4 storm late on Sept. 26 and tore through the Southeast into Sept. 27, causing catastrophic flooding in parts of Georgia, North and South […]
Dairy products manufacturer to expand in Augusta
Shamrock Farms, an Arizona-based dairy products manufacturer, will invest $59 million to expand its Augusta County manufacturing operation, Gov. Glenn Youngkin announced Tuesday. Shamrock Farms expects to create 28 jobs through the expansion, which will add 81,000 square feet to the manufacturer’s 250,000-square-foot facility in Mill Place Commerce Park. The company opened its Augusta facility [[...]
Va. casinos report $56.56M in September revenue
Gaming revenues for Virginia’s three casinos totaled $56.56 million in September, according to data the Virginia Lottery released Tuesday. Last month, the Bristol Casino: Future Home of Hard Rock reported about $14.09 million in adjusted gaming revenues (wagers minus winnings), of which about $11.68 million came from its 905 slots and about $2.4 million from […]
Bassett reports Q3 loss, with performance hurt by cyberattack
Bassett Furniture reported $75.6 million in consolidated third quarter sales, a 13.3% decline from last year and a 9% drop from last quarter. It also recorded an operating loss of $6.4 million, its fifth consecutive loss. The overall loss included a $1.2 million loss on a logistical services contract the company chose to abandon to […]
Hard Rock Bristol to open permanent facility Nov. 14
The Hard Rock Hotel & Casino Bristol will open its approximately $515 million permanent facility on Nov. 14, with country music star Blake Shelton making an appearance at the ceremony, its development team announced Wednesday. The temporary Bristol Casino: Future Home of Hard Rock opened July 8, 2022, making it Virginia’s first operating casino. Since then, […]
HII’s Mission Technologies wins $458M DOD contract
Huntington Ingalls Industries’ McLean-based Mission Technologies division won a $458 million federal defense contract to modernize information technology architecture. Under the five-year task order, which HII announced Tuesday it had won, the division will use model-based systems engineering to develop, assess and implement technical solutions to improve cybersecurity, add capabilities and enab[...]
Va. Realtors: Home sales to increase 9.8% in 2025
Virginia Realtors forecasts a 9.8% year-over-year increase in home sales in 2025, according to its 2025 Economic & Housing Market Forecast, released Thursday. So far this year, housing sales in the state are outpacing sales last year (although the pace of sales is below the annual average) and are on track to be up 2.9% […]
TowneBank to acquire Village Bank for $120M
Suffolk-based TowneBank has signed a definitive agreement to acquire Midlothian’s Village Bank and its parent company, Village Bank and Trust Financial, a deal worth approximately $120 million, the banks announced Tuesday. “Our TowneBank family is humbled and excited to partner with Village Bank and its team members,” TowneBank Executive Chairman G. Robert Aston Jr. said […]