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Altria donates $3M to Better Housing Coalition
The Richmond-based nonprofit Better Housing Coalition (BHC) announced Monday it has received the largest corporate gift in its 33-year history — a $3 million gift from Henrico County-based Fortune 500 tobacco product manufacturer Altria Group Inc. BHC plans to use the donation to develop more affordable housing in the greater Richmond region. It will also […]
Richmond City Council to consider $325M VCU Health tower
Richmond City Council will consider the $325 million sale and redevelopment of the city’s Public Safety Building into a VCU Health medical office tower. The project is proposed by Capital City Partners LLC, a joint venture from two developers who were involved in the failed Navy Hill project. Mayor Levar Stoney announced Monday that his […]
Wells Fargo makes $1.5M donation for small business loans
Wells Fargo & Co., Virginia’s third-largest bank by 2019 deposits, announced Thursday it has donated $1.5 million to Richmond-based nonprofit Virginia Community Capital (VCC) to help local minority and/or woman-owned small businesses stay open and save jobs amid the pandemic. During the next two years, the VCC will disburse $1 million of the funding in […]
Dominion Energy makes $1M donation to Virginia 4-H
Dominion Energy Inc. has donated $1 million to Virginia 4-H, a nonprofit educational program for youth hosted by Virginia Tech, the university announced Thursday. The donation marks the largest cash gift in the history of the state’s largest youth organization. Virginia 4-H educational centers serve more than 13,000 campers each summer, nearly 18,000 youth participate […]
10 Va. companies make world’s most admired list
Of 332 companies ranked by Fortune magazine as the “World’s Most Admired Companies,” 10 Virginia companies made the list, according to rankings released Friday. The list is compiled from the Fortune 500 and Fortune Global 500 lists, which rank companies based on revenue. The World’s Most Admired Companies list ranks companies based on corporate reputation. […]
Why the Richmond Fed has zero Black Ph.D. economists
The Federal Reserve Bank of Richmond is one of only five Fed banks that employs zero Black Ph.D. economists, according to a New York Times report this week. Of the 12 Federal Reserve banks, seven employ only one or two Black Ph.D. economists, which Fed officials blame on lack of Black talent in the economics […]
Blue Ridge Bank, Bay Banks complete merger
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Monday it has completed the merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. Virginia Commonwealth Bank will continue to operate under its current name until systems are converted in May. The bank will […]
Va. Community Capital president, CEO to retire this year
Richmond-based nonprofit Virginia Community Capital (VCC) announced last week that President and CEO Jane Henderson will retire this year after four decades in the banking industry. Henderson has led VCC, a community development financial institution, since its 2006 inception. She has spent 29 years in community development finance. VCC has not yet released a specific […]
UPS to sell Richmond-based freight biz for $800M
Atlanta-based United Parcel Service Inc. will sell its Richmond-based UPS Freight unit to Canadian logistics company TFI International Inc. for $800 million, the package delivery company announced Monday. UPS Freight provides less-than-truckload (LTL) shipments (used for small freight transportation) across all 50 states, Mexico, Puerto Rico, the U.S. Virgin Islands and Guam. The UPS business [&he[...]
At 10-year mark, CarLotz goes public
Nearing its 10-year anniversary, CarLotz, a used-cars consignment company founded in Chesterfield County, went public on Friday. In October 2020, CarLotz first announced it would merge with special purpose acquisition company Miami-based Acamar Partners Acquisition Corp. — a deal that was approved by stockholders Jan. 8 and closed Friday. The company, which is valued at […]
Shareholders approve Blue Ridge, Bay Banks merger
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Thursday its shareholders approved the proposed merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. The transaction would create a bank with a pro forma total market capitalization of nearly $200 million, according to […]
Va. unemployment claims remain high, but new claims drop
Although the number of initial jobless claims filed last week dropped relative to the previous week, unemployment numbers remain high, according to figures released by the Virginia Employment Commission on Thursday. During the week ending Jan. 16, 21,073 Virginians filed initial claims, a 25.3% decline from the previous week, which saw 28,227 people file new […]
