Sign In
Free Newsletter
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 […]
Leidos names first chief AI officer
Leidos has named Ron Keesing its first chief AI officer, the Reston Fortune 500 contractor announced Tuesday. Keesing, who joined Leidos in 2004, has more than two decades of experience in artificial intelligence, machine learning and advanced analytics. His roles have included serving as founding director of the Leidos AI Accelerator and as senior vice […]
MicroStrategy CEO Michael Saylor to step down, become exec chair
Amid mounting losses from its multibillion-dollar bitcoin investments, MicroStrategy Inc. CEO and founder Michael Saylor is stepping down from his current role and will take on the position of executive chairman, the Tysons-based technology company announced Tuesday. The move is effective Aug. 8. MicroStrategy President Phong Le will also become the company’s new CEO, as […]
Report: Half of SWVA households earned less than basic living cost in 2018
More than 50% of Southwest Virginia households in 2018 lived in poverty or earned less than the basic cost of living, according to a report released Thursday by the United Ways of Virginia. Using the “ALICE” acronym — asset-limited, income-constrained and employed — the United Ways of Virginia reported that 51% of Southwest households were […]
Labor market continues recovery in mid-October
Despite ongoing pandemic struggles, the labor market continued to improve during the week ending Oct. 17, but at a slower pace than at the start of the recovery, according to Virginia Commonwealth University and Arizona State University economists. Early October saw 68.4% of working age adults employed, a more than 8% increase compared with April, […]
ABC reports record $1.2B in FY 2020 revenue
The Virginia Alcoholic Beverage Control Authority (ABC) broke its gross revenue record again during fiscal year 2020, reporting $1.2 billion in gross revenue, the ABC announced Wednesday. Last year, the state agency surpassed $1 billion in revenue for the first time. ABC’s profits of $545.3 million (an increase of $45.8 million over last year) will […]
Dominion attributes $1B annual earnings drop to SCANA acquisition
Richmond-based Dominion Energy Inc. reported $1.4 billion in earnings for 2019 — $1 billion less than the utility earned during 2018, the company reported in its fourth-quarter earnings call Tuesday. The difference in earnings is primarily related to Dominion’s acquisition of SCANA Corp., which closed on Jan. 3, 2019, says Dominion spokesperson Ryan Frazier. The […]
