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UPS to sell Richmond-based freight biz for $800M
Atlanta-based United Parcel Service Inc. will sell its Richmond-based UPS Freight unit to Canadian logistics company TFI International Inc. for $800 million, the package delivery company announced Monday. UPS Freight provides less-than-truckload (LTL) shipments (used for small freight transportation) across all 50 states, Mexico[...]
CACI wins $48M FEMA contract
The Federal Emergency Management Agency awarded Arlington-based federal technology contractor CACI International Inc. a potential $48 million contract to work on the agency’s National Public Warning System (NPWS), according to a System for Award Management (SAM) notice. The NPWS disseminates information and warnings during national emergencies. CACI will construct, decommission, update and provide environmental and […][...]
Northrop Grumman lands $155M Missile Defense Agency contract
The Missile Defense Agency awarded a subsidiary of Falls Church-based Northrop Grumman Corp. a $155 million contract to work on space-based sensor technology for defending against hypersonic weapons, the Department of Defense announced Friday. Under the contract, Northrop Grumman Systems Corp. will perform on-orbit demonstration, launch and initial orbit testing work, according to the DOD. […][...]
Va. saw 10.8% increase in home sales in 2020
Virginia saw a 10.8% increase in the number of homes sold during 2020 compared with the year before, according to a report released by Virginia Realtors. It marks the fastest growth in annual sales seen in Virginia in more than five years. During 2020, 139,908 homes sold in Virginia, compared with 126,305 homes sold in […]
Northrop Grumman lands potential $3.6B Air Force contract
The U.S. Air Force awarded Falls Church-based Northrop Grumman Corp. a potential five-year $3.6 billion contract for work on the branch’s airborne communications relay system, the Department of Defense announced Thursday. Under the contract, Northrop Grumman will perform research, development, testing, evaluation, integration, operations and sustainment services for the branch’s Battlefield Airborne Communications Node (BACN[...]
Former PBMares CEO named 2021 Chamber board chair
The Virginia Chamber of Commerce on Friday elected Alan Witt, former CEO of Newport News-based accounting and consulting firm PBMares LLP, to serve as its 2021 chair of the board of directors. He succeeds 2020 Chair Paige Clay, a senior partner with Mercer. Witt has been a Virginia Chamber of Commerce board member since 2016 [&h[...]
Norfolk communications equipment manufacturer to create 68 jobs
A $6.5 million expansion by Norfolk-based Tabet Manufacturing Co. will create 68 jobs in the region, Gov. Ralph Northam announced Friday. The communications equipment manufacturer will expand its operations by constructing a new manufacturing facility next to its current location at 1336 Ballentine Blvd. Tabet was founded more than 60 years ago and developed the […]
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[...]
Shareholders approve Blue Ridge, Bay Banks merger
Charlottesville-based Blue Ridge Bankshares Inc., the parent holding company of Blue Ridge Bank, announced Thursday its shareholders approved the proposed merger with Richmond-based Bay Banks of Virginia Inc., the parent holding company of Virginia Commonwealth Bank. The transaction would create a bank with a pro forma total market capitalization of nearly $200 million, according to […]
Va. unemployment claims remain high, but new claims drop
Although the number of initial jobless claims filed last week dropped relative to the previous week, unemployment numbers remain high, according to figures released by the Virginia Employment Commission on Thursday. During the week ending Jan. 16, 21,073 Virginians filed initial claims, a 25.3% decline from the previous week, wh[...]
CACI International executive chairman dies at 83
Arlington-based federal technology contractor CACI International Inc. announced Wednesday the death of J. Philip “Jack” London, the company’s executive chairman, at age 83. He served as chairman, president and CEO of the company from 1984 to 2007 and as executive chairman since 2007. “All of us at CACI are deeply s[...]
Genworth notifies employees of job cuts
Henrico County-based Genworth Financial Inc. has notified some employees of job cuts, a company spokesperson confirmed Wednesday. The job cuts come on the heels of the company’s Jan. 4 announcement that its planned $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. has been frozen. Company spokesperson Julie Westermann declined to share the number […]
