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COVID challenges continue for Va. restaurants
Liz Kincaid faced a major problem in August after the walk-in refrigerator in one of her Richmond restaurants — Max’s on Broad — broke. Her usual supplier told her the wait for the replacement part would take two months. “I have raw oysters and produce and fish and chicken,” recalled Kincaid. “I’m like, ‘What am […]
Arlington supply chain tech unicorn hires CFO
Arlington-based supply chain management technology company Interos Inc. has hired Aida Sukys as chief financial officer. Sukys was previously CFO at Justworks Inc., a human resources tech company. Sukys also was the group CFO and global head of financial business services for Willis Towers Watson PLC, a global risk management and insurance company. In that […]
Port of Va. partnering with Norfolk Southern
The Port of Virginia is part of a new partnership with Norfolk Southern Corp., Hapag-Lloyd and Union Pacific Railroad. The partners will provide expedited train shipping from the East Coast to the western U.S., Norfolk Southern announced last week. The partnership, called OceaNS Bridge Express, will start at the Port of Virginia’s Norfolk International Terminals […]
Economic growth to continue slowing, ODU experts say
The U.S. economy will continue to slow in the second half of 2022 and a recession is increasingly likely, according to the Old Dominion University’s Dragas Center for Economy Analysis and Policy’s mid-year economic forecast released Friday. Increases in inflation are expected to slow as well but harden, leaving costs elevated, report Robert McNab and […]
ODU to create supply chain, logistics, maritime school
Old Dominion University will create a School of Supply Chain, Logistics, and Maritime Operations, pending approval from the State Council of Higher Education for Virginia, the university announced Friday. In its June meeting, the university Board of Visitors approved a resolution to create the school, effective Oct. 15. “Coordinating our academic and research initiatives through […]
Va. CEOs expect increased sales despite shortages
About 70% of CEOs expect sales to increase in the next six months, despite supply chain and labor shortages, according to the first quarter CEO Economic Outlook survey conducted by the University of Richmond’s Robins School of Business and the Virginia Council of CEOs (VACEOs). Ninety percent of CEOs reported a labor shortage impacting their […]
Lambert’s Point Docks in Norfolk to become $100M maritime center
In a deal predicted to bring more than 500 jobs and over $100 million in capital investment, the Lambert’s Point Docks property in Norfolk will become a maritime operations and logistics center to support local offshore wind, defense and transportation industries. The land, owned by Norfolk Southern Railway Co., has been leased by Virginia Beach-based […]
Setting a course
Each week, MDV SpartanNash LLC, the nation’s leading supplier for overseas U.S. military commissaries and exchanges, loads 100 to 200 containers filled with everything from peanut butter to clothing aboard steamships bound for Europe, Africa, Bahrain, Kuwait and Honduras, as well as Puerto Rico and Guantanamo Bay. “In places like Guantanamo Bay and Bahrain, there’s […]
Fifth District economy growth is moderate, Fed says
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) continued to grow moderately despite supply chain issues, labor shortages and rising prices, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information [...]
Fertilizer shortage hits Va. farmers
Lewis Everett farms cotton, peanuts and small grains in Southampton County, on the Virginia-North Carolina line. He expects to take a loss this year due to the rising costs of fertilizer and crop protectants, which include herbicides and fungicides. Farmers have already negotiated some contract prices, he said. “A lot of those decisions were made […]
Smithfield Foods division makes new medical device
Smithfield Foods Inc.’s Cincinnati-based porcine-derived medical products unit, Smithfield BioScience, and Atlanta-based medical device company BioCircuit Technologies announced Wednesday that the two will produce a medical device for nerve repair after traumatic injuries. The device, called Nerve Tape, will allow nerve repair without stitches. It is an implantable device made from pig small[...]
Coal waste project launches in SW Va.
A public-private project to evaluate the critical minerals in coal waste products in Virginia, West Virginia and Kentucky launched Wednesday with a community meeting in the Virginia Highlands Small Business Incubator in Abingdon. The project, Evolve Central Appalachia (Evolve CAPP), is part of an almost $1.5 million grant from the U.S. Energy Department to the […]
