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Alger leaving JMU to head American University
American University announced Monday that James Madison University President Jonathan Alger will be its next president, starting July 1. Alger joined the Harrisonburg public university in 2012. Alger will be the 16th president of AU, a private university in Washington, D.C., replacing President Sylvia Burwell. During his tenure,[...]
Conservative groups sue to stop Dominion wind farm
A nonprofit conservative watchdog group based in Falls Church filed a lawsuit Monday against Dominion Energy, the U.S. Bureau of Ocean Energy Management, the U.S. Department of the Interior and other government bodies, aiming to stop construction of Dominion’s offshore wind farm expected to begin this spring 27 miles off t[...]
Va. real estate industry weighs in on $418M Realtors settlement
UPDATED MARCH 21, 2 P.M. A landmark, $418 million proposed court settlement from the National Association of Realtors over allegations of a conspiracy to boost agent commissions could have seismic implications for the residential real estate industry, with some national experts going so far as to call it one of the biggest chang[...]
Va. casinos report $57.3M in Feb. revenue
Gaming revenues from Virginia’s three casinos totaled $57.3 million in February, according to Virginia Lottery data released Friday. The Bristol Casino: Future Home of Hard Rock temporary facility opened July 2022, making it Virginia’s first casino. The Virginia Lottery Board approved HR Bristol’s casino license in April 2[...]
Cavallo announces retirement
MullenLowe Global CEO Kristen Cavallo, formerly also CEO of Richmond-based marketing and advertising firm The Martin Agency, is retiring from her role to pursue political and social activism, MullenLowe and Martin parent Interpublic Group of Cos. (IPG) announced Monday. Cavallo became CEO of MullenLowe Global in November 2022 an[...]
Noblis names new CIO
Reston-based Noblis will appoint Mark Lay as its vice president and chief information officer, the not-for-profit federal contractor announced Wednesday. Lay will take the place of Gail Hogan, who announced her retirement in December 2023 and whose last day is expected to be April 5. He will report to Gary Sladic, Noblis’ chief financial officer, […]
Torc makes interim CFO permanent
Blacksburg-based self-driving truck company Torc Robotics, a subsidiary of Daimler Truck, hired Richard Kannan as its new chief financial officer, the company announced Thursday. Kannan, who had served as interim CFO since August, will also become a member of Torc’s executive leadership team. “Richard has proven himself [...]
Home sales, prices up in NoVa, Hampton Roads, Central Va.
The Northern Virginia, Hampton Roads and Central Virginia housing markets showed positive trends last month, with month-over-month and year-over-year increases in home sales and median sales prices. Northern Virginia Northern Virginia home sales in February grew 2.2% from February 2023, marking the first year-over-year growth in[...]
Artists pull out of SXSW over Army, RTX involvement
Dozens of bands and solo musicians boycotted Austin, Texas’ South by Southwest (SXSW) festival this week in protest against the Department of Defense’s support of Israel’s war in Gaza. Among SXSW’s sponsors this year are the U.S. Army and Arlington County-based aerospace and defense contractor RTX, which [...]
Food storage company to invest $77.5M in Suffolk facility
New Jersey-based cold and dry storage services provider FreezPak Logistics will invest $77.5 million to build a Suffolk facility, a project expected to create 80 jobs, Gov. Glenn Youngkin announced Thursday. FreezPak will build a 245,000-square-foot cold storage facility in Suffolk to serve the mid-Atlantic region. The 80 new jobs will be in warehouse operations […]
Altria plans to sell 35M Anheuser-Busch InBev shares
Henrico County-based Altria Group announced Wednesday it hopes to sell 35 million ordinary shares in Anheuser-Busch InBev in a public offering. The proceeds — estimated by Bloomberg at up to $2.2 billion — will go toward repurchases of Altria’s common stock, according to the Fortune 500 company’s statement. Altri[...]
Fed’s Fifth District economy stays the course
Economic activity in the Federal Reserve’s Fifth District was little changed in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released March 6. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions gathered from the nation’s 12 Feder[...]
