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GTT Communications to file for Chapter 11 bankruptcy
McLean-based telecommunications company GTT Communications Inc. is planning to file a prepackaged chapter 11 case after it closes the previously announced sale of its infrastructure division to Miami-based I Squared Capital, it announced Thursday. After the completion of the $2.15 billion sale, GTT and some subsidiaries will file their cases in the U.S. Bankruptcy Court […]
FTC fines Capital One CEO for failing to file stock transaction
The Federal Trade Commission fined McLean-based Capital One Financial Corp. CEO Richard Fairbank a $637,950 civil penalty for violating antitrust laws in finalizing stock acquisitions, the FTC announced Thursday. The settlement must be approved by the U.S. District Court for the District of Columbia. The FTC alleged that Fairban[...]
Va. new jobless claims dropped 35% last week
Virginia’s initial unemployment claims decreased about 35% last week since the previous week, the Virginia Employment Commission reported Thursday. For the filing week ending Aug. 28, the state recorded 7,777 new jobless claims, down 4,146 from the previous week. Continued claims totaled 46,471, up 9,396 claims from the pr[...]
Amazon has hired 3,000+ HQ2 workers so far
So far, Amazon.com Inc. has hired more than 3,000 of the 25,000 employees it plans to recruit by 2030 for its multibillion-dollar HQ2 East Coast headquarters in Arlington, the global online retailer announced Wednesday. In 2019, the Virginia General Assembly passed an incentive package that would pay Amazon up to $550 million in[...]
Apartment buildings in Forest sell for $6.6M
Jefferson Ridge Apartments in Forest sold for $6.6 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group and Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group announced Tuesday. The sale finalized last week. Built in 1995, the 68-unit, 8-building apartment campus is located at 143 Jeffe[...]
VEDP launches Supply Chain Optimization Program
The Virginia Economic Development Partnership launched its Supply Chain Optimization Program, Gov. Ralph Northam announced Wednesday. The one-year program is designed to help Virginia businesses streamline their supply chain management. Participating businesses could receive a maximum of $10,000 in reimbursements for supply chai[...]
Virginia sports betting dropped to $162M in July
Virginians bet $161.9 million in July but won $141.94 million, according to data released Wednesday by the Virginia Lottery. Virginia sports betting wagers now total more than $1.48 billion since the state legalized sports betting in mid-January. In June, the state reaped about $234.9 million in gross revenue from sports betting[...]
Three Lynchburg apartment buildings sell for $8.2M
Three apartment buildings within the Cornerstone community in Lynchburg sold for $8.2 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Monday. The buildings, located at 301 Rotunda St., 121 Colonnade St. and 101 Colonnade St. were built in 2012. They contain a total of 68 apartment units — 4[...]
Historic Roanoke building sells for $9.5M
The Elmwood Building in Roanoke sold for $9.5 million, Hall Associates Inc. and buyer Freedom First Credit Union announced Tuesday. Located at 207 Bullitt Ave. SE in Roanoke’s Downtown Historic District, the 4-story, 46,500-square-foot building was built in 1919 and has housed a hardware store, furniture warehouse and Meri[...]
Virginia ranked No. 23 in the Oxfam America’s 2021 Best States to Work Index
Virginia ranked No. 23 in the Oxfam America’s 2021 Best States to Work Index, continuing its rise from last place in 2019. Anti-poverty organization Oxfam America examines wage policies, worker protections and rights to organize to create its index of the 50 states, Washington, D.C. and Puerto Rico. In 2018 and 2019, Virginia was the […]
Amazon opens career center, two distribution facilities in Hampton Roads
Amazon.com Inc. has launched a career center and two delivery stations in Hampton Roads, it announced Wednesday. The Amazon Career Center opened last week at 1989 S. Military Highway in Chesapeake and will serve as a hiring and orientation hub for Amazon’s facilities in Chesapeake, Suffolk, Norfolk, Hampton and Virginia Be[...]
Richmond consulting firm hires SVP of data and analytics
Richmond-based IT consulting firm UDig has hired Reid Colson as its senior vice president of data and analytics, it announced Tuesday. “With Reid on our team, we are excited to help clients seize opportunities, from creating a single version of the truth to driving value via predictive analytics and machine learning,”[...]
