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Md.-based HVAC company to acquire two Richmond firms
Columbia, Maryland-based HVAC equipment manufacturer’s representative Havtech announced Thursday it will acquire Richmond-based companies Air Conditioning Equipment Sales Inc. (ACES) and Mechanical Systems Testing & Balancing Inc. (MSTB). Terms of the transactions were not disclosed. Founded in 1971, ACES is an HVAC manufacturer’s representative for the Central Virginia, Tidewater and Roanoke markets, while MSTB performs[...]
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 [...]
Portsmouth casino to solicit minority ownership
Portsmouth’s casino development partner, Rush Street Gaming, announced Thursday that it will offer 5% or $5 million ownership (whichever is greater) of the proposed $300 million Rivers Casino Portsmouth to a local minority-owned business or private investor who is a person of color. “Rush Street has a track record of inclu[...]
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 […][...]
Emergency hearing on Kanye’s ballot quest set for Thursday
Updated 4:30 p.m. Claiming that Virginia electors for Kanye West — hip-hop superstar, presidential hopeful and husband of Kim Kardashian — were obtained fraudulently, Attorney General Mark Herring requested an emergency hearing in Richmond Circuit Court on Wednesday to stop West’s name from appearing on the state’s ballots. The hearing has been set for 2:30 […]
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 […]
Va. Credit Union League president to retire next June
The Virginia Credit Union League (VCUL) announced Wednesday that its longtime president, Richard D. “Rick” Pillow, will retire on June 30, 2021, after dedicating 40 years to the credit union system. “Anyone who has worked with Rick knows his passion for credit unions,” VCUL Board Chairman Patsy Stuard, CEO of Fort Lee Fe[...]
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 […][...]
Vienna marketing software firm names chief revenue officer
Vienna-based marketing software company Surefire Local announced Tuesday it has hired Mike Pierce as its first chief revenue officer. Pierce most recently served as CRO for Digital Pharmacist Inc. and also served as senior sales director for Main Street Hub Inc. and director of sales for Yodle Inc. “With his strong leadership and exceptional track […]
