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Dollar Tree CEO Dreiling steps down, citing health
Rick Dreiling stepped down Sunday as CEO and board chairman of Chesapeake-based Dollar Tree, effective immediately, the Fortune 500 discount retailer announced Monday. Michael C. Creedon Jr., Dollar Tree’s chief operating officer since 2022, was named interim CEO. He previously held executive positions at Advance Auto Part[...]
FOR THE RECORD NOVEMBER 2024
CENTRAL VIRGINIA Altria Group and Virginia Commonwealth University are discussing the possibility of the university buying the 450,000-square-foot Altria Center for Research and Technology in downtown Richmond, the two parties acknowledged in October. The East Leigh Street building is assessed at $275 million. If the deal comes to fruition, Altria plans to build a new […]
What’s behind Hampton Roads’ outmigration?
Young people have been leaving Hampton Roads in recent years, and area leaders say learning why is the first step toward fixing the problem. A June survey conducted by the Hampton Roads Workforce Council, Hampton Roads Executive Roundtable and Richmond-based Fahrenheit Advisors found that 25% of 511 residents surveyed said they [...]
Breeden promotes five property management employees
The Breeden Co. has promoted five employees in its property management division, the Virginia Beach-based real estate company announced Thursday. The five employees are Rachel Blanchard, Lisa Capps, Sheena Obermark, Tiffany Rote and Samantha Schuman. Blanchard, who was previously a project manager, has been appointed director of[...]
SEC, Hampton managing partner of BFM Fund settle charges
The Securities and Exchange Commission settled charges in early October against a Hampton-based managing partner of The BFM Fund and a limited liability company for allegedly breaching their fiduciary duties and misleading investors. Himalaya Rao-Potlapally of Hampton is a managing partner of Portland, Oregon-based BFM Fund, a s[...]
GD subsidiary in Norfolk wins potential $123.3M contract
General Dynamics NASSCO, a Norfolk subsidiary of Reston aerospace and defense giant General Dynamics, was awarded a U.S. Navy contract worth up to $123.3 million last week for maintenance, modernization and repair of the USS Porter destroyer during fiscal 2025. The base amount of the firm fixed price contract to General Dynam[...]
Dominion completes $2.6B sale of stake in offshore wind farm
Dominion Energy has completed its $2.6 billion sale of a 50% noncontrolling stake in its Coastal Virginia Offshore Wind project to investor Stonepeak, the Fortune 500 utility announced Tuesday. This transaction and several other recent sales reduce Dominion’s debt by approximately $21 billion, meeting a goal the utility se[...]
Physical therapists get licenses revoked, suspended over patient sexting
The Virginia Board of Physical Therapy has revoked the license of a Lynchburg physical therapist and suspended the license of a Yorktown physical therapist assistant over unrelated sexting incidents with patients. The board entered an order to revoke Stephen Maynard Scott’s physical therapy license on Oct. 11 for “cond[...]
U.Va. dedicates Ramon W. Breeden Jr. Commerce Grounds
The University of Virginia on Friday dedicated the Ramon W. Breeden Jr. Commerce Grounds plaza and officially named “Breeden Way,” located adjacent to the McIntire School of Commerce. The honor is in recognition of Breeden’s legacy as founder and chair of Virginia Beach-based real estate company The Breeden Co., as well as[...]
Hardee to retire as Lawson Cos. CEO in 2025
Lawson Cos., the Norfolk-based residential real estate development and construction company, announced Thursday its president and CEO, Carl Hardee, will retire at the end of 2025. Aaron Phipps, Lawson’s senior vice president and chief financial officer, is expected to succeed Hardee, who was named president and CEO in 2016[...]
J-Lab scientist to receive nuclear physics prize
Volker D. Burkert, a scientist at the Thomas Jefferson National Accelerator Facility in Newport News, aka the Jefferson Lab, has been chosen to receive the 2025 Tom W. Bonner Prize in Nuclear Physics, the lab announced Wednesday. Burkert has worked at the U.S. Department of Energy lab for 39 years of its 40-year history, and [&h[...]
Va. casinos report $56.56M in September revenue
Gaming revenues for Virginia’s three casinos totaled $56.56 million in September, according to data the Virginia Lottery released Tuesday. Last month, the Bristol Casino: Future Home of Hard Rock reported about $14.09 million in adjusted gaming revenues (wagers minus winnings), of which about $11.68 million came from its 905 s[...]
