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Recent Articles from Sydney Lake
Va. unemployment trust fund facing $750M deficit
With jobless claims at a record high, the state trust fund that pays for jobless benefits is expected to rack up a $750 million deficit by the end of the year, according to the Virginia Employment Commission. And Virginia employers already hurting from the pandemic’s economic fallout could face tax increases to replenish the state’s […]
Redskins to be called ‘Washington Football Team’ this season
The Ashburn-based National Football League team formerly known as the Washington Redskins will call itself the Washington Football Team this upcoming season until it formally adopts a new permanent name, the team announced Thursday. “The decision to use ‘Washington Football Team’ for this season allows the franchise the ability to undertake an in-depth branding process […]
Va. State Fair canceled for first time since WWII
The 2020 State Fair of Virginia has been canceled due to the COVID-19 pandemic, the Virginia Farm Bureau board of directors announced Thursday. The fair has run annually since 1854, and was last canceled during World War II. It was also canceled during the 1918 Spanish influenza and the Civil War, according to the Virginia […]
Va. sees 5K spike in initial jobless claims last week
Since January, more than 1 million Virginians have filed initial jobless claims, according to the Virginia Employment Commission. More than 37,000 Virginians filed initial jobless claims last week — an increase of more than 5,000 claims from the previous week, according to a VEC statement released Thursday. “The jump in initial unemployment claims in Virginia […]
Alexandria telecom firm buys New York company
Alexandria-based telecommunications company InSite Wireless Group LLC announced Wednesday it has acquired Great Neck, New York-based Repeater Communications Group LLC, an operator of leased rooftop telecommunications sites in the New York City area. A transaction amount was not disclosed. InSite Wireless is a privately owned company that manufactures tower and wireless infrastructure. With the a[...]
Alexandria software company acquired by Massachusetts firm
Burlington, Massachusetts-based software company HealthEdge Software Inc. announced Wednesday it has acquired Alexandria-based software company The Burgess Group LLC. A transaction amount was not disclosed. The acquisition follows a majority stake investment in HealthEdge by funds managed by Blackstone Growth. “The acquisition of Burgess is a great strategic fit for HealthEdge to enter the lar[...]
Playing it safe
The Virginia Tourism Corp.’s DMO WanderLove Recovery Grant Program will award $866,000 in grants to 90 destination marketing organizations that were heavily impacted by the pandemic, Gov. Ralph Northam announced Wednesday. Each recipient will receive a maximum grant of $10,000, which can be used for efforts including participating in VTC co-ops, local advertising and out-of-state […[...]
Va. hotel revenues decline while U.S. has worst quarter on record
Hotel revenues remained low but steady in Virginia last week, compared with the same week last year, according to new data from STR Inc., a division of CoStar Group providing market data on the U.S. hospitality industry, which STR reported just marked its worst quarter yet. “Due to the COVID-19 pandemic, the U.S. hotel industry reported […]
FSA Federal hires VP of finance, accounting
Ashburn-based government services company FSA Federal announced Wednesday that Chandler Terry has joined the company as vice president of finance and accounting. In his new role, he will oversee all finance functions of the company, including capital resources, forecasting, treasury, financial services, accounting, payroll, audit support and Sarbanes–Oxley Act (SOX) compliance. He will report [...]
The Hilb Group makes 10th acquisition within past year
In its second acquisition announcement of the week, Henrico County-based insurance company The Hilb Group LLC (THG) on Wednesday announced it has acquired Michigan-based CIA Financial Group Inc. The transaction was effective July 1. A transaction amount was not disclosed. Since 2015, THG has acquired more than 60 companies. The purchase of CIA Financial is […]
