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Va. hotel revenues fell 42% in December 2020
Virginia hotel revenues for December 2020 were on trend for a year that saw the hospitality industry suffer from the pandemic. Compared with December 2019, hotel revenues statewide declined by 42% during December 2020, according to data released Monday from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality […]
Delegate tries again to advance paid sick leave bill
RICHMOND,Va. — A Virginia House of Delegates committee advanced a measure into appropriations that would provide some essential workers with paid sick leave. House Bill 2137, introduced by Del. Elizabeth Guzman, D-Woodbridge, reported out of the House Labor and Commerce committee Thursday in a 13-8 vote along party lines. This is Guzman’s latest effort to […]
A taxing year
After a turbulent business year, accountants are bracing for a tax season filled with increased uncertainty, complexity and the looming reality that, eventually, 2020 taxes will be due and books must be reconciled. Businesses navigating the pandemic — from entrepreneurs launching their first ventures to corporations with expe[...]
Charging ahead
Greener rides are on tap for schoolchildren and commuters as Dominion Energy Inc. accelerates efforts to increase the number of electric vehicles on Virginia roads. Electric transportation is a key component of the Richmond-based utility’s 10-year Grid Transformation Plan, which sets targets for reducing carbon, adding renewab[...]
Bills advance to facilitate COVID-19 vaccine distribution
RICHMOND, Va. — The Virginia House and Senate have unanimously advanced separate bills to facilitate administration of the COVID-19 vaccine. House Bill 2333, introduced by Del. Lamont Bagby, D-Richmond, intends to strengthen the state’s vaccine distribution efforts and also bolster data collection. The measure removes ba[...]
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 cl[...]
350-unit apartment complex coming to Richmond’s Scott’s Addition
A 350-unit mixed-use apartment building is coming to Richmond’s Scott’s Addition neighborhood by late 2022 or early 2023, Glen Allen-based real estate investment company Capital Square and Charleston, South Carolina-based real estate developer Greystar announced Thursday. Capital Square and Greystar purchased 2.28 acres of l[...]
Reston-based Comscore secures investments for stock deal
Reston-based media-measurement and analytics company Comscore Inc. announced Thursday that Connecticut-based Charter Communications Inc., Colorado-based Qurate Retail Inc. and an affiliate of New York-based Cerberus Capital Management LP are each making a cash investment in exchange for shares of convertible preferred stock. Proceeds from the investment will be used by Comscore to retire existing debt […][...]
$2.7B Genworth acquisition is on hold
UPDATED JAN. 5 Henrico County-based Genworth Financial Inc.’s planned $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. has been frozen. In late November, the companies announced that Oceanwide’s acquisition of the Fortune 500 insurance company had been reapproved by China’s National Development and Reform Commission, and the acquisition, which has been frequently postponed […][...]
Five Va., Md.-based electric coops form broadband association
With internet connectivity issues growing in importance during the COVID-19 pandemic, five electric cooperatives in Virginia and Maryland have formed a broadband cooperative association aimed at encouraging the expansion of high-speed internet service in underserved rural areas. The new Maryland and Delaware Association of Broadband Cooperatives (VMDABC) includes Millboro-based BARC Electric Cooperative and its BARC […][...]
Off and running
Updated Jan. 29, 2021 Conventional wisdom used to hold that all politics is local, but that’s not really the case anymore. The extreme polarization on display during the recent presidential and U.S. Senate and House races has infected state and local politics, and Virginia’s November 2021 gubernatorial election promises no r[...]
In good health
Virginia’s patient satisfaction rate held steady in a recently released nationwide survey, but just three hospitals in the commonwealth received the highest marks. Overall, Virginia patient satisfaction trails the national average by just 2%. The patient satisfaction scores come from the annual Hospital Consumer Assessment of [...]
