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Michael Milken joins Focused Ultrasound Foundation board
Michael Milken, who was pardoned by President Donald Trump in February over felony charges for securities fraud, has joined the Charlottesville-based Focused Ultrasound Foundation’s board, the organization announced Thursday. Milken (often referred to as the “junk bond king”) is credited with being part of the development [...]
Va. hotel revenues continued to improve last week
Virginia hotel revenues continued to improve last week, according to data released Wednesday by STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Aug. 23 through Aug. 29, hotel revenues decreased by 38% and rooms sold declined by 27% compared to the same week […]
Fed says Fifth District economy continues to improve, but activity remains low
The economy of the Fifth District of the Federal Reserve (which includes Virginia, North Carolina, South Carolina, West Virginia and Maryland) has continued to improve in recent weeks, but activity has remained below pre-pandemic levels in most industries, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published […]
ABC reports record $1.2B in FY 2020 revenue
The Virginia Alcoholic Beverage Control Authority (ABC) broke its gross revenue record again during fiscal year 2020, reporting $1.2 billion in gross revenue, the ABC announced Wednesday. Last year, the state agency surpassed $1 billion in revenue for the first time. ABC’s profits of $545.3 million (an increase of $45.8 million over last year) will […]
Arlington, Chesterfield named top digital counties in U.S.
Chesterfield and Arlington counties (along with three California localities) tied for the top spot on the Center for Digital Government (CDG) and the National Association of Counties (NACo)’s 18th annual Digital Counties Survey, which was released Tuesday. The survey identifies the best technology practices among U.S. county governments by evaluating initiatives that streamline delivery of […][...]
Va. reports 8% unemployment rate for July
Despite the ongoing pandemic, Virginia’s unemployment rate was 2.5% lower than the national average for the month of July, according to statistics released by the Virginia Employment Commission on Wednesday. For the month of July, the U.S. reported a 10.5% unemployment rate while Virginia reported an 8% unemployment rate, a 0.2% improvement from the month […]
ASGN Inc. to buy Boston consultancy for up to $72M cash
ASGN Inc., parent company of Glen Allen-based recruiting firm Apex Systems LLC, announced Tuesday it will acquire Boston-based consultancy LeapFrog Systems LLC for up to $72 million in cash. The goal of the transaction is to grow the companies’ commercial consulting business, adding services for financial services, insurance and health care clients. LeapFrog anticipates approximately […][...]
McLean satellite operator to buy in-flight broadband biz for $400M
McLean-based communications satellite services provider Intelsat Corp. announced Monday it will acquire in-flight broadband connectivity provider Gogo Inc.’s commercial aviation business for $400 million. Under the acquisition, Intelsat plans to pair its satellite and ground network to Gogo’s base of more than 3,000 commercial aircraft, according to a company statement. The transaction is expected to […][...]
Newport News federal contractor acquires Vienna firm
Newport News-based federal contractor and professional services company ITA International announced Tuesday it has acquired Vienna-based management consulting firm Innovative Decisions Inc. (IDI). A transaction amount was not disclosed. IDI provides decision and risk analysis, operations research and systems engineering services for business and government customers, while ITA International provides analysis, planning, training, exercis[...]
SAIC wins $79M Air Force contract
The U.S. Air Force awarded Reston-based Fortune 500 federal contractor Science Applications International Corp. (SAIC) a five-year, $79 million contract to deliver mission engineering services to one of the branch’s missile systems, the company announced Tuesday. Under the contract, SAIC will work on the 414th Supply Chain Management Squadron’s Intercontinental Ballistic Missile (ICBM) LGM-30 Minuteman […][...]
Eastern Va. restrictions to remain through Labor Day weekend
Gov. Ralph Northam said Tuesday during a news conference that he would not roll back COVID-19-related restrictions in Eastern Virginia prior to Labor Day. On Friday, Virginia Beach Mayor Bobby Dyer sent a letter to Northam asking the governor to allow alcohol sales until 11 p.m. and requesting that the state eliminate the 50% oc[...]
Augusta County expands business relief fund
The Augusta County Economic Development Authority (EDA) announced Tuesday it has expanded its Disaster Recovery Grant Fund to allow businesses that have previously received Paycheck Protection Program loans (PPP) or Economic Injury Disaster Loans (EIDL) to apply for grants of up to $15,000. “The expansion of our grant fund will allow additional Augusta County businesses […]
