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Big deals
CENTRAL VIRGINIA Chesterfield County: Carvana, an e-commerce platform for buying and selling used cars, plans to invest $25 million to establish a 191,000-square-foot vehicle inspection and reconditioning facility in the county with the potential to create more than 400 jobs. The project, announced in 2019, was delayed by the pa[...]
Virginia’s Fortune 500 companies
Once again, Virginia is well represented on the Fortune 500, with 22 companies from the commonwealth making this year’s list, which ranks the 500 largest publicly traded companies in the United States by total revenue. Mortgage finance company Federal Home Loan Mortgage Corp. (“Freddie Mac”) continues to top Virginia’s l[...]
A second, more nuanced victory for Virginia
In July, Virginia retained its place as CNBC’s Top State for Business, becoming the first state to achieve the honor twice in a row and five times in all. And yet, the commonwealth feels worlds away from July 2019, the last time the cable business news network released its rankings. Two years ago, Northern Virginia […]
2021 Virginia CFO Awards: The winners
Large business CFO: John C. Zeheb, Ukrop’s Homestyle Foods LLC, Richmond Large nonprofit CFO: Clifford Yee, Northern Virginia Family Service, Oakton Small business CFO: J. Robert Mooney, Phlow Corp., Richmond Small nonprofit CFO: Kim L. D’Errico, Special Olympics Virginia, Richmond Plus: The 2021 nominees list Amid pandemic, CFOs positioned businesses for recovery
Bridging the gap
At the beginning of 2020, A Family Affair Event Management had already filled its schedule for the year with an array of weddings and corporate, social and destination activities. Then COVID-19 struck, wiping the Stafford event planning company’s calendar clean. “It greatly impacted us,” says Tortica Anderson, owner of A F[...]
Silver Line will miss Labor Day target
Problems plugging Silver Line Phase 2 into the rest of the Washington transit system are delaying the project’s transfer from the Metropolitan Washington Airports Authority to the Washington Metropolitan Area Transit Authority (WMATA). The transfer’s target date was Labor Day, but it’s not clear how long the transfer will [...]
Preparing for the worst
Read about the 2021 Virginia CFO Award winners. John Brocato’s coveted tickets to the Atlantic Coast Conference men’s basketball tournament suddenly became void in March 2020 after the ACC canceled the tournament as the COVID-19 pandemic began turning the world on its head. And as the chief financial officer of a small build[...]
The Powell Memo
The Powell Memorandum has been praised and vilified, denounced as a blueprint for business to seize control of American life, and embraced as a way to protect liberty and free enterprise. Whether because of its lasting influence or alarming prescience, the Powell Memorandum has become one of the most important single documents i[...]
Come together
Virginia is seeing a wave of bank mergers and acquisitions, a trend that could intensify, banking experts say. “We could potentially see a record-setting year for bank mergers and acquisitions,” says John Asbury, president and CEO of Richmond-based Atlantic Union Bankshares Corp. and chairman of the Virginia Bankers Associat[...]
The Mailroom August 2021
More energy alternatives The “Rolling out the red carpet” article in your June issue outlined how economic development officials foresee the Coastal Virginia Offshore Wind project “becoming an East Coast hub” for offshore wind operations. It is also worth noting that solar and electric bus projects are progressing throug[...]
Norfolk ‘micro-school’ will prep kids for future work
Music superstar Pharrell Williams’ educational nonprofit, Yellow, will be opening a new, independent “micro-school” with a focus on STEM and workforce preparation this fall in Norfolk’s Ghent neighborhood. The school, Yellowhab, is intended to be the first of a network of small schools. “We want to add more schools in [...]
Going with the Phlow
Small Business | J. Robert Mooney, CFO Phlow Corp., Richmond Without Bob Mooney, Phlow Corp. might never have gotten off the ground. “I do not believe I would’ve had the courage or the willingness … to start up Phlow if it weren’t for Bob,” says Dr. Eric Edwards, co-founder and CEO of the Richmond-based company [&h[...]
