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Recent Articles from Sydney Lake
MicroStrategy converts $250M cash holdings to bitcoin
Tysons-based business software company MicroStrategy Inc. announced Tuesday it has converted $250 million from its cash holdings into more than 21,000 bitcoins. The company will keep its bitcoin holdings on its corporate treasury reserve — which MicroStrategy CEO Michael J. Saylor said in a statement will be the the principal holding in its treasury reserve […]
Virginia Tech Foundation CEO to retire next spring
The Virginia Tech Foundation announced Monday that John Dooley, who has served as chief executive officer for the foundation since 2012, will retire during spring 2021. He will have been with the university for nearly 40 years. Dooley joined Tech in 1982 at age 27 and directed the then-brand new Northern Virginia 4-H Center in […]
Arlington defense contractor wins $62M Navy contract
The U.S. Navy awarded Arlington-based defense contractor Leonardo DRS Inc. a $62 million contract to supply 118 motor control panels for the Mark 41 Vertical Launching System (VLS), which is used by the Army and international allies. Under the contract, Leonardo DRS’s airborne and intelligence systems business units will produce the panels that control the […]
General Dynamics wins $428.2M Army contract
The U.S. Army awarded Reston-based government contractor General Dynamics Corp.’s land systems division a five-year contract worth up to $428.2 million to perform maintenance work on the Army’s Stryker combat vehicles, the U.S. Department of Defense announced Monday. Under the contract, General Dynamics will provide equipment training, maintenance and fielding services, according to the Do[...]
State awards $278K to COVID-19 economic recovery projects
Gov. Ralph Northam announced Tuesday that the state has awarded $278,000 among 18 economic revitalization projects in Virginia as part of the state’s COVID-19 economic recovery plan. “Downtown districts are the lifeblood of our communities and our local economies and they need our support now more than ever,” Northam said in a statement. “Main Street […]
Leidos lands $649M Army contract
The U.S. Army awarded Reston-based federal contractor Leidos a $649 million contract to provide operations and support services to the Special Operations Command’s (SOCOM) Tactical Airborne Multi-Sensor Platforms mission, the company announced Monday. The one-year contract (with four one-year option periods) was awarded through the U.S. Army’s Responsive Strategic Sourcing for Services[...]
$8.79M in CARES Act funding going to affordable housing
Following Gov. Ralph Northam’s announcement on Aug. 7 that the eviction moratorium would be extended through Sept. 7, U.S. Sens. Mark R. Warner and Tim Kaine on Monday announced that $8.79 million in federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funding will go to affordable housing in Virginia. “As housing insecurity continues to […]
Richmond mayor proposes $500K for businesses affected by protests
Richmond Mayor Levar M. Stoney is proposing that City Council adopt a $500,000 Business Recovery Grant Program to compensate for damages to businesses from recent protests. Through the program, eligible businesses can be awarded a one-time grant of up to $10,000 to cover costs from damage that happened as the result of recent demonstrations within […]
PAE hires homeland security director
Guy Torres has joined Falls Church-based Pacific Architects and Engineers (PAE) as the director of its homeland security portfolio, according to reports. Torres was most recently a Department of Homeland Security account executive at Falls Church-based Northrop Grumman Corp. During his career, he has also served as director of U.S. Customs and Border Protection’s information […]
Chantilly IT company names CEO
Chantilly-based information technology company DirectViz Solutions LLC announced Friday that Michael McHugh has been promoted to CEO. McHugh was most recently the company’s chief operating officer, and has more than 25 years of experience working in the technology industry. Before his time with DirectViz, he served as president of the defense and national security division […]
