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Dominion’s Tom Farrell dies one day after retiring
Thomas F. Farrell II, the longtime chairman, president and CEO of Dominion Energy Inc., died Friday, one day after retiring as the Richmond-based Fortune 500 utility’s executive chair and top leader. Farrell, 66, was battling cancer, according to an announcement from Dominion. “Tom was a peerless mentor and outstandi[...]
Va. sports betting rakes in $265M during first month
Virginians bet $265 million on sports during February, the first full month for legal sports wagers in the commonwealth, according to data released Thursday by the Virginia Lottery. The house wound up winning — but just barely — with bettors making $253 million between Feb. 1-28, including the Feb. 7 Super Bowl, when people bet […]
CarMax to acquire remaining stake in Edmunds
Goochland County-based used car giant CarMax Inc. announced Thursday that it had signed an agreement for full ownership of vehicle research website Edmunds.com Inc. in a cash and stock deal. In January 2020, CarMax invested $50 million to acquire a minority stake in Santa Monica, California-based Edmunds. CarMax, a Fortune 500 c[...]
PPP loans deadline extended to May 31
Businesses and banks received a two-month extension to apply for Paycheck Protection Program loans this week, as President Joe Biden signed legislation delaying the deadline for the latest round of PPP loans from March 31 to May 31. This week’s extension takes some of the pressure off bankers and businesses, says Steve Yeakel, president and […]
Virginia National Bank finalizes merger with Fauquier Bank
The parent company of Virginia National Bank announced the completion of its merger with Fauquier Bankshares Inc. today, creating a combined bank with $1.7 billion in assets and $1.5 billion in deposits as of Dec. 31, 2020. The merger, announced in October, brings together Charlottesville-based Virginia National Bankshares Corp. and the Warrenton-based parent company of […]
Va. new unemployment filings up last week, VEC reports
The number of initial unemployment claims filed during the week ending March 27 were 75% lower than they were this week a year ago, when the COVID-19 pandemic’s impact was fully reflected in Virginia’s unemployment statistics. However, the number of new filers increased from the previous week. The Virginia Employment[...]
All Va. adults to be eligible for vaccines by April 18
Gov. Ralph Northam announced Thursday that all Virginians age 16 and older will be eligible to get the COVID-19 vaccine starting April 18, ahead of a May 1 national deadline set by President Joe Biden. Northam made the announcement during a visit to a vaccination clinic at First Mount Zion Baptist Church in Prince William [&hell[...]
TMEIC Corp. in Roanoke consolidates with Texas operation
The parent of Roanoke-based TMEIC Corp. is merging its two United States operations effective April 1, the company announced this week, naming Manmeet S. Bhatia president and CEO of the new entity, TMEIC Corporation Americas. Dale Guidry is stepping down as president and CEO of TMEIC Corp. and into an advisory role until retirem[...]
Tom Farrell retiring from Dominion Energy
After 14 years leading Richmond-based Dominion Energy Inc., Thomas F. Farrell II is retiring as the utility’s executive chairman, effective April 1, according to Securities and Exchange Commission filings submitted by the Fortune 500 company last week. Farrell is also stepping down from the company’s board of directo[...]
Loudoun announces major mixed-use development along Silver Line
Loudoun Economic Development unveiled plans Wednesday for Rivana at Innovation Station, a 4.4 million-square-foot mixed-use development adjacent to Metro’s Silver Line extension on a site Loudoun once proposed for Amazon.com Inc.’s HQ2 East Coast headquarters. Rivana is the first phase of Innovation Station, a 103-ac[...]
Reston-based SOC Telemed buys Texas telehealth practice for $194M
Reston-based SOC Telemed Inc. announced this week it has purchased Texas-based medical practice Access Physicians for $194 million in cash and stocks. The acquisition will create the largest acute care telemedicine provider in the United States. According to SOC Telemed, the combined company is estimated to have earned $107 million to $113 million in pro […]
Sonabank and parent company rebrand as Primis
A new vision for the company prompted Sonabank to rebrand itself as Primis Bank, company president and CEO Dennis J. Zember Jr. said Wednesday in a statement about the change. “The new vision centers around being innovative in the way we deliver more meaningful results to our customers and our shareholders,” he said, “and doing […]
