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McLean satellite operator Intelsat files for bankruptcy
McLean-based satellite operator Intelsat Corp. announced Friday it has filed for Chapter 11 bankruptcy protection, as it faces a $15 billion debt burden. “Our success has come despite being burdened in recent years by substantial legacy debt,” Intelsat CEO Stephen Spengler said in a statement. “Now is the time to change that.” Intelsat said in […]
Falls Church consulting firm names COO
Falls Church-based management consulting firm Cathexis announced Friday it has promoted Halleh Seyson to executive vice president and chief executive officer. Seyson joined the company in Oct. 2019 as senior vice president. She was previously the group vice president at Social & Scientific Systems where she led health policy, data analytics and technology business. Before […]
Pandemic market is still a seller’s market, NoVa Realtors say
Some things never change. The limited number of available homes for sale and increased buyer demand in Northern Virginia has allowed the strong sellers’ market to continue, according to the Northern Virginia Association of Relators. NVAR covers Fairfax and Arlington counties, Alexandria, Fairfax and Falls Church and the towns of Vienna, Herndon and Clifton. “While […]
It may take years for economy to recover, construction economist says
Associated Builders and Contractors Chief Economist Anirban Basu said that it will likely take years for the nation’s economy to recover from the COVID-19 pandemic‘s blow. “One of the reasons for this is that state and local government budgets are now under severe pressure. With retail sales, hotel and income tax revenues declining, many state […]
$2.2 billion in federal funding headed to state agencies
Next week, Virginia officials will allocate about $2.2 billion in federal stimulus funds to state agencies, which are sending requests to the governor’s office through Monday, Virginia Secretary of Finance Aubrey Layne announced Friday. So far, of the $3.1 billion in federal funds from the CARES Act given to Virginia, $650[...]
Prince George medical building sells for $3.85M
The OrthoVirginia building in Prince George County has sold for $3.85 million, Glen Allen-based commercial real estate company Commonwealth Commercial Partners LLC announced Thursday. Located at 4710 Puddledock Road, the 11,172-square foot building is 100% occupied by OrthoVirginia, an independent group practice of orthopedic su[...]
Mechanicsville medical building sells for $2.1M
The Virginia Cancer Institute building in Hanover County’s Mechanicsville area has sold for $2.1 million, Glen Allen-based commercial real estate company Commonwealth Commercial Partners LLC announced Thursday. Located at 7501 Right Fork Road, the 8,100-square-foot building is 100% occupied by the Virginia Cancer Institute[...]
Graham Holdings Co. acquires custom framing company
Arlington-based media and education conglomerate Graham Holdings Co. announced Friday it has acquired Washington, D.C.-based custom framing company Framebridge Inc. Financial terms of the transaction were not disclosed. Graham Holdings Co. is the family company of the late Katharine Graham, who was the publisher and owner of The Washington Post. Its current holdings include online […]
CDC reopening guidance for your business
The Centers for Disease Control and Prevention (CDC) on Thursday evening released six flow charts intended to help businesses, schools, restaurants and transit systems decide whether it is safe to reopen — and when. As parts of the state begin to reopen Friday under Gov. Ralph Northam’s Phase One plan, leaders can use these guidelines […]
Va. COVID-19 cases reach 28,672
The state now has 28,672 confirmed and probable COVID-19 cases, an increase of 859 since Thursday, the Virginia Department of Health reported Friday. There are also 977 confirmed and probable deaths related to the coronavirus, and 3,657 people hospitalized throughout the state. New today on the VDH dashboard is a breakdown of how many molecular […]
Reopening will be delayed in Richmond, Accomack County
The city of Richmond and Accomack County, the Eastern Shore locality that has seen COVID-19 outbreaks in its poultry plants, will not enter Phase One of Gov. Ralph Northam’s “Forward Virginia” reopening plan Friday. Like Northern Virginia, the localities will wait two weeks until May 29. The governor’s announcement comes after Richmond Mayor Levar Stoney […]
Health accelerator program coming to Richmond
Richmond-based seed-stage accelerator Lighthouse Labs is partnering with the Health Innovation Consortium (HIC) to start a health-focused startup accelerator program in Virginia, the groups announced Thursday. Virginia Commonwealth University, VCU Health and Richmond-based nonprofit Activation Capital created HIC, which launched in January 2019 to bring health care ideas to the market. “Health systems, particularly academic [&hellip[...]
