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U.Va. Wise receives largest ever donation
The University of Virginia’s College at Wise has received its largest ever donation, $11.2 million, from The Bill Gatton Foundation, the Wise County college announced Monday. The late Carol Martin “Bill” Gatton, a successful businessman who owned the Gatton Automotive Group with dealerships in Kentucky and Tenn[...]
Dollar Tree CEO Dreiling steps down, citing health
Rick Dreiling stepped down Sunday as CEO and board chairman of Chesapeake-based Dollar Tree, effective immediately, the Fortune 500 discount retailer announced Monday. Michael C. Creedon Jr., Dollar Tree’s chief operating officer since 2022, was named interim CEO. He previously held executive positions at Advance Auto Part[...]
NoVa developer won’t pull plans for Pittsylvania power plant, data centers
Despite vocal public opposition, developer Irfan Ali of Herndon-based company Balico says he’s still moving forward with seeking local government approval for a power plant and data center campus he wants to build on 2,233 acres in the Banister district of Pittsylvania County. County residents turned out in large numbers[...]
Carpenter notches acquisition No. 3 with Casper buy
Richmond-based international foam producer Carpenter has acquired omnichannel bedding brand Casper Sleep. Under the agreement, Casper will operate as a subsidiary of Carpenter. This marks the third acquisition Carpenter has made in the past 16 months. In November 2023, Carpenter acquired North Carolina-based NCFI Polyurethanes.[...]
LL Flooring CEO resigns, effective immediately
LL Flooring President and CEO Charles E. Tyson has resigned effective immediately, the Henrico County flooring company formerly known as Lumber Liquidators announced in a Securities and Exchange Commission document released Friday. The move is not exactly a surprise, coming several weeks after Thomas Sullivan, Lumber Liquidators[...]
CoStar makes deal to move into Arlington HQ in early 2025
CoStar Group is accelerating its headquarters move from Washington, D.C., to Arlington County, thanks to a deal with a tenant in the headquarters building that included a $48 million early termination fee. The global real estate data and analytics company, best known for its Apartments.com and Homes.com marketplaces, announced p[...]
Avionics manufacturer will invest $5M on Reston office and R&D facility
CMC Electronics, a Montreal-based avionics manufacturer, will invest $5 million to establish an office and research and development facility in Reston, Gov. Glenn Youngkin announced Friday. Initially, the project will create 89 jobs, with more positions expected as operations increase, according to the governor’s office. �[...]
Bassett Furniture names new chief marketing officer
Home furniture manufacturer and retailer Bassett Furniture has named Tony Chivari as its new chief marketing officer. Chivari has held similar positions with 1-800-Flowers.com, Gem Shopping Network and Things Remembered. “We are very excited to welcome Tony to the Bassett team as we continue our journey to become a national om[...]
HII’s Mission Technologies secures $3B DOD contract
Huntington Ingalls Industries’ McLean-based Mission Technologies division won a $3 billion contract to provide the Department of Defense logistics and intelligence support and technology. Under the Logistics Services, ISR [Intelligence, Surveillance and Reconnaissance] Operations and Next-Gen Technology (LOGIX) task order,[...]
All in good time
For decades, the promise of economic revitalization has tantalized Southwest Virginia. The sparsely populated region, once home to booming coal mining and tobacco industries, has had money and resources thrown at it by local, state and federal governments, but it’s still had a difficult time finding its footing. As the reg[...]
Return to uncertainty
In the wake of the Federal Reserve lowering interest rates by half a percentage point in September, the stock market has been setting records, hiring numbers are trending strong, and the inflation rate has been slowly edging downward. Nevertheless, many businesses — and workers — seem to be in a state of anxious uncertainty,[...]
Mind the gap
Margaret Abrams was studying engineering at Liberty University when she came across an online job advertisement from Newport News-based Huntington Ingalls Industries. HII, Virginia’s largest industrial employer, was offering a $2,500 signing bonus to job candidates who successfully completed a 16-week computer numerical co[...]
