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Kuhn continues moving Loudoun projects forward
It hasn’t exactly been smooth sailing for Chuck Kuhn lately as he tries to rezone land for flex industrial use in Leesburg and Purcellville. The CEO of JK Moving Services and JK Land Holdings, Kuhn is one of Northern Virginia’s most prominent data center developers and land conservationists, having purchased swathes of prope[...]
Colbert leaves as CEO of Boeing’s defense, space sector
Theodore “Ted” Colbert III is no longer president and CEO of Boeing Defense, Space & Security, the Arlington County aircraft and aerospace manufacturer reported in a Securities and Exchange Commission filing Friday evening, Sept. 20. The announcement comes weeks after NASA decided it was unsafe to send two U.S. a[...]
Chain Bridge Bancorp plans to go public
Chain Bridge Bancorp, the McLean holding company for Chain Bridge Bank, National Association, is planning to go public. On Friday, the company filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of Class A common stock. The number of shares and price range for the IPO[...]
CACI strikes $1.27B deal to buy RF electronics provider
CACI International has entered into a $1.275 billion definitive agreement to acquire Azure Summit Technology, the Reston-based Fortune 1000 government contractor announced Monday. Based in Fairfax and founded in 2007, Azure Summit develops high-performance radio frequency (RF) hardware and software for the U.S. Department of Def[...]
OpTech expanding Loudoun satellite plant
Optimum Technologies, a Sterling space flight hardware designer and manufacturer, plans to expand its Loudoun County satellite manufacturing plant, a project expected to create 40 jobs, Gov. Glenn Youngkin announced Monday. Known as OpTech, the company will invest $999,000 in the expansion, according to the governor’s offi[...]
NoVa, Hampton Roads home sales decline in August
Home sales in Northern Virginia and Hampton Roads dropped year-over-year and month-over-month in August, although inventory and selling prices in both regions increased from the same time last year. Northern Virginia August home sales in Northern Virginia dropped 8.1% from August 2023, according to data released Sept. 12 by the [...]
Navient faces $120M fine, ban over student loan abuse claims from consumer watchdog
The Consumer Financial Protection Bureau filed a proposed order Thursday to permanently ban Herndon-based Navient, formerly the nation’s largest student loan servicer, from servicing federal student loans and fine the company $120 million. “These bans would largely remove Navient from a market where it, among other i[...]
ATCC expanding presence in Prince William County
Gov. Glenn Youngkin announced Thursday that American Type Culture Collection (ATCC) plans to expand its bioresource center campus in Prince William County, investing $54.7 million and creating an expected 75 jobs. The project will include a new biomanufacturing facility focused on global health. “ATCC is a world-class resource for scientists performing vital research to solve […]
Peterson Cos. names president
Daniel McCahan, most recently chief operating officer of Madison Marquette, will become president of Fairfax-based real estate developer Peterson Cos. on Sept. 9. McCahan worked at Washington, D.C.-based real estate investment firm Madison Marquette for 13 years, first joining as a senior vice president. “We are pleased to wel[...]
Peraton taps new chairman, president and CEO
Stu Shea, Peraton’s chairman, president and CEO, has stepped down, and Steve Schorer has been named to succeed him at the Reston-based federal contractor owned by Veritas Capital. According to Tuesday’s announcement, Schorer will start Sept. 9. “On behalf of Peraton and Veritas, I’d like to thank Stu for his many[...]
NoVa residents feel pressure to pay high rent, mortgages
A spring survey showed more than half of residents polled in the greater Washington, D.C., area are concerned with making rent or mortgage payments in 2023, highlighting the lack of affordable housing in the nation’s fourth largest metropolitan area. Fifty-two percent of D.C., Maryland and Virginia residents polled by Gallup a[...]
In the pipeline
As Andre Marshall was speaking to a reporter about cybersecurity in late July, one of the biggest technology failures in recent memory was unfolding in real time. A worldwide Microsoft Windows outage on July 19 brought airports, banks, subways — and even the Marshall household — to a standstill. George Mason University’s v[...]
