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Dollar Tree plans to sell Family Dollar to private equity firms for $1B
Chesapeake-based Fortune 500 discount retailer Dollar Tree has reached a deal with Brigade Capital Management, a New York-based global asset management firm, and Macellum Capital Management, an investment firm with headquarters also in New York, to acquire its Family Dollar brand for about $1 billion after a decade of trying to [...]
Construction of Virginia’s tallest building slated for April
LS GreenLink USA will begin constructing the tallest structure in Virginia next month. During Old Dominion University’s Maritime and Offshore Wind Conference on Tuesday, LS GreenLink USA’s managing director, Patrick Shim, revealed the company will break ground April 28 on its $680 million-plus offshore wind subsea ca[...]
Virginia Beach-based Groundworks names new president, COO
Groundworks, a Virginia Beach-based foundation and water management solutions company, has promoted two senior executives to president and chief operating officer. Michael Mullican, who joined Groundworks over a year ago as chief financial officer, has been named president and retains his CFO title, and Jeffrey Martin, most rece[...]
Power outage at Virginia International Gateway leads to port backup
Power was out early morning Friday at the Virginia International Gateway, the privately owned Portsmouth container terminal leased by the Port of Virginia, leading to a several-hour halt in service while electricity was restored and the terminal’s systems were restarted. According to port spokesman Joe Harris, the outage o[...]
Trump administration cancels Jefferson Lab operator search
The U.S. Department of Energy has cancelled its search for a new operator and manager of Newport News’ Jefferson Lab, as the current operator’s contract is set to expire at the end of May — prompting speculation of what the federally funded lab’s future entails. The DOE said in a statement that it plans to [&[...]
ODU taps new dean of Eastern Virginia Medical School
Dr. Judette Louis, a maternal-fetal health physician from the University of South Florida, will be the next dean of the Eastern Virginia Medical School within Old Dominion’s newly created health sciences college, ODU announced this week. Louis will start Sept. 2 as dean of the Macon & Joan Brock Virginia Health Science[...]
HII awarded $147M contract to assist Navy
Huntington Ingalls Industries’ McLean-based Mission Technologies division has been awarded a $147 million contract to support shipboard and shore-based combat training services for the U.S. Navy. HII, which made the announcement Tuesday, says the five-year task order will provide engineering support for every aspect of tra[...]
Kaufman & Canoles names executive director
Chris Smythe has been named executive director of Kaufman & Canoles, the Norfolk-headquartered law firm announced Monday. In the role, Smythe will oversee the day-to-day operations of the firm and report directly to Jason R. Davis, its president and CEO. Previously, Smythe was president of Tycon Medical Systems, a Norfolk ho[...]
Skanska completes offshore wind staging project at Port of Virginia
New York-based construction company Skanska announced Thursday that it has completed a $223 million redevelopment project for the Virginia Port Authority, upgrading 72 acres of Portsmouth Marine Terminal and 1,500 feet of wharf that now serves as an offshore wind staging port. Richmond-based Dominion Energy will use the terminal[...]
Whistleblowers in Sentara insurance investigation revealed
UPDATED MARCH 18 The U.S. District Court for the Western District of Virginia has unsealed a whistleblower complaint against Sentara Health that accused the Hampton Roads health care system of improperly inflating local insurance rates in 2018 and 2019. On Feb. 14, the court revealed the plaintiffs are Sara Stovall, Ian Dixon an[...]
HII wins contract for Australian submarine supplier pilot program
Newport News-based Huntington Ingalls Industries has been awarded a contract from the Australian government to develop and run the new Australian Submarine Supplier Qualification (AUSSQ) pilot program that will build a submarine supply chain between the United States and Australia over the next two years, HII announced March 11.[...]
$120M TowneBank-Village Bank acquisition approved by state, FDIC
Suffolk-based TowneBank’s $120 million acquisition of Midlothian’s Village Bank and Trust Financial Corp. has been approved by the FDIC and the Virginia State Corporation Commission, clearing the way for a completed deal in early April, the two banks said Tuesday. Announced in September 2024, the combined bank, which[...]
