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Industries

Oct 29, 2024

John C. Asbury tapped to lead American Bankers Association

The American Bankers Association has elected John C. Asbury, president and CEO of Richmond-based Atlantic Union Bankshares, as the organization’s chair for 2024-25.  “Through his bold leadership and dedicated service to our industry, John has proven that he is just the right person to step into this critically important rol[...]

Oct 28, 2024

Raytheon wins $900M contract modification

The Department of Defense’s Missile Defense Agency has awarded a $900 million contract modification to Raytheon, a subsidiary of Arlington County’s RTX, according to a DOD notice posted Friday.  Under the extension, Raytheon, a defense contractor that is also based in Arlington County, will continue operations and suppo[...]

Oct 25, 2024

Breeden promotes five property management employees

The Breeden Co. has promoted five employees in its property management division, the Virginia Beach-based real estate company announced Thursday. The five employees are Rachel Blanchard, Lisa Capps, Sheena Obermark, Tiffany Rote and Samantha Schuman. Blanchard, who was previously a project manager, has been appointed director of[...]

Oct 25, 2024

Fed’s Fifth District economy grows modestly

Economic activity in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew modestly from early September, according to the latest edition of the Fed’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is base[...]

Oct 25, 2024

SEC, Hampton managing partner of BFM Fund settle charges

The Securities and Exchange Commission settled charges in early October against a Hampton-based managing partner of The BFM Fund and a limited liability company for allegedly breaching their fiduciary duties and misleading investors. Himalaya Rao-Potlapally of Hampton is a managing partner of Portland, Oregon-based BFM Fund, a s[...]

Historical September pending home sales in Virginia. Image courtesy Virginia Realtors
Oct 25, 2024

Va. pending home sales, prices rose in September

Pending home sales in Virginia rose in September — increasing almost 14% from September 2023 — suggesting more buyers are entering the market, according to Virginia Realtors data released Tuesday. Last month, 8,065 homes sold in Virginia, a less than 1% increase from September 2023. Although closed sales remained relatively [...]

Oct 24, 2024

GD subsidiary in Norfolk wins potential $123.3M contract

General Dynamics NASSCO, a Norfolk subsidiary of Reston aerospace and defense giant General Dynamics, was awarded a U.S. Navy contract worth up to $123.3 million last week for maintenance, modernization and repair of the USS Porter destroyer during fiscal 2025.  The base amount of the firm fixed price contract to General Dynam[...]

Oct 23, 2024

Dominion completes $2.6B sale of stake in offshore wind farm

Dominion Energy has completed its $2.6 billion sale of a 50% noncontrolling stake in its Coastal Virginia Offshore Wind project to investor Stonepeak, the Fortune 500 utility announced Tuesday. This transaction and several other recent sales reduce Dominion’s debt by approximately $21 billion, meeting a goal the utility se[...]

A man wearing a blazer stands at a podium
Oct 23, 2024

Work begins on organics-to-renewable gas facility in Amelia County

Vanguard Renewables, an organics-to-renewable natural gas company with headquarters in Massachusetts, broke ground Wednesday on its newest facility at Oakmulgee Dairy Farm in Amelia County.  An anaerobic digester system on the property will allow Vanguard Renewables to convert cow manure along with inedible and unsalable food m[...]

Oct 21, 2024

Leidos wins $331M Army IT contract

The U.S. Army has awarded a $331 million IT contract to Leidos to modernize its network, the Reston-based Fortune 500 federal contractor announced Monday. The Army Program Executive Office for Command, Control, Communications and Network (PEO C3N), formerly known as the PEO C3T, awarded the contract, which has a one-year base pe[...]

Oct 21, 2024

Former NFL, U.Va. football player indicted on embezzlement charges

Real estate developer Christopher A. Harrison, a former University of Virginia and NFL football player, was indicted last week on federal embezzlement charges connected to a downtown Richmond residential project and Petersburg’s former Ramada Inn, which he purchased in 2018 to redevelop. According to a news release by the [...]

A man wearing a blue suit and a striped tie stands at a podium.
Oct 21, 2024

U.Va. dedicates Ramon W. Breeden Jr. Commerce Grounds

The University of Virginia on Friday dedicated the Ramon W. Breeden Jr. Commerce Grounds plaza and officially named “Breeden Way,” located adjacent to the McIntire School of Commerce. The honor is in recognition of Breeden’s legacy as founder and chair of Virginia Beach-based real estate company The Breeden Co., as well as[...]

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