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Capital One to buy Discover in $35.3B deal
UPDATED 8:35 P.M. Feb. 19 McLean-based Capital One Financial is buying Discover Financial Services for $35.3 billion in an all-stock deal that marks Capital One’s largest ever acquisition, the two credit card giants announced Monday evening. Under the terms of the acquisition agreement, Discover shareholders will receive 1[...]
NoVa, Hampton Roads housing markets show positive signs
The Northern Virginia and Hampton Roads housing markets showed encouraging signs in January, despite the seasonal slowdown. Northern Virginia In Northern Virginia, January closed home sales dipped 0.9% from January 2023, with 771 units sold last month, according to the Northern Virginia Association of Realtors. Homes sold faster[...]
Alexandria arena proposal economic impact report released
An economic and fiscal impact analysis released Friday by the Alexandria Economic Development Partnership forecasts that the proposed Washington Capitals and Wizards arena in Alexandria could generate up to $7.96 billion in annual economic output for the state. Additionally, the report says the arena could be completed as soon a[...]
Armada Hoffler to name Shawn Tibbetts as next CEO
Virginia Beach real estate investment trust Armada Hoffler expects to name Chief Operating Officer Shawn Tibbetts as its CEO next spring, when current CEO Louis Haddad plans to retire. Tibbetts has been promoted to president and will remain COO, Armada Hoffler announced Thursday. Tibbetts has been COO since he joined the company[...]
Lego delays Chesterfield production start to 2027
Lego Group will begin production at its $1 billion Chesterfield manufacturing facility in 2027, at least a year later than originally planned, the Danish toymaker announced Thursday. The company also named Preben Elnef as project lead and Gray | Hourigan, a joint venture between Lexington, Kentucky-based Gray and Richmond-base[...]
Bills advance to protect state employees who access medical cannabis
RICHMOND, Va. — State lawmakers have advanced bills that would allow public sector employees to use medical cannabis without losing their job. House Bill 149, introduced by Del. Dan Helmer, D-Fairfax, extends to state public employees rights that already exist in the private sector. The bill passed with bipartisan support on a[...]
Trident Systems to add 50 jobs in Fairfax
Fairfax-based aerospace defense contractor Trident Systems plans to invest $3.7 million in an expansion of its Fairfax County operation, creating about 50 jobs, Gov. Glenn Youngkin announced Tuesday. Trident Systems, which was acquired by Chantilly-based LightRidge Solutions in July 2023, produces space electronic systems for the Department of Defense, NASA and the intelligence community. The […][...]
BlueHalo nears $1B in annual revenue with acquisition
Arlington-based tech contractor BlueHalo announced Tuesday it plans to acquire Maryland-based Eqlipse Technologies, a purchase that the company expects to bring its annual revenue to nearly $1 billion. Eqlipse and BlueHalo are both portfolio companies of Arlington Capital Partners, and together, the combined company will have [...]
CEO Hunt leaving Va. Credit Union League
Carrie Hunt is leaving at the end of the month as president and CEO of the Virginia Credit Union League, and Chief Operating Officer Karima Freeman will serve as interim head of the trade association, VACUL announced Tuesday. Hunt, a seasoned political lobbyist, is leaving to become chief advocacy officer of America’s Cred[...]
ODEC keeps interim president and CEO permanently
John C. Lee Jr. will stay on as Old Dominion Electric Cooperative’s permanent president and CEO after serving in an interim capacity since Sept. 8, 2023, the Glen Allen-based not-for-profit power cooperative announced Monday. In October 2023, ODEC began its search for a new president and CEO after Marcus Harris resigned in[...]
Bills to cap rent increases don’t advance this session
RICHMOND, Va. — State lawmakers did not advance legislation this session that aimed to slow rising rent prices, although affordable housing remains a big concern for constituents. Two proposed bills would have allowed localities to adopt anti-rent gouging provisions, prevent landlords from increasing rent without at least t[...]
Lucas: Alexandria arena deal is dead as far as she’s concerned
A bill that would establish a state authority for the proposed Alexandria basketball and hockey arena is not on the Virginia State Senate’s Finance and Appropriations Committee’s docket “because [Gov. Glenn Youngkin’s] proposal is not ready for prime time,” wrote Sen. Louise Lucas, the committeeR[...]
