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Ex-Richmond Fed examiner pleads guilty to insider trading
A former Federal Reserve Bank of Richmond examiner on Tuesday pleaded guilty to committing insider trading and making false statements about his trading to the Richmond Fed. Robert Brian Thompson, 43, of Chesterfield County’s Moseley area, was an examiner and senior manager with supervisory duties for the Richmond Fed, wh[...]
Luck Cos. names president
Richard Luck is now president of Luck Cos., the Goochland-based construction aggregates and decorative stone producer announced Nov. 12 along with several other leadership changes. Richard Luck is the fourth generation of the Luck family to take a leadership role at the company, which has three business units: Luck Stone, Luck E[...]
Armada Hoffler’s next CEO to assume role Jan. 1
Shawn Tibbetts, Armada Hoffler Properties’ president, chief operating officer and CEO designate, will become CEO on Jan. 1, 2025, earlier than previously announced. The Virginia Beach-based real estate investment trust announced in February that it expected to name Tibbetts as CEO in spring 2025, upon current CEO Louis Had[...]
Volkswagen’s U.S. subsidiary names new president and CEO
Rivian Automotive’s Kjell Gruner will become the new president and CEO of Volkswagen Group of America on Dec. 12, the Reston-headquartered subsidiary of the German automaker announced Tuesday. Gruner succeeds Pablo Di Si, who “has stepped down … on his own request,” according to a news release. Di Si assumed the role[...]
ODEC announces next president and CEO
Chris Cosby will become president and CEO of Glen Allen’s Old Dominion Electric Cooperative on Feb. 1, 2025. Cosby succeeds John C. Lee, who has been ODEC’s president and CEO since Sept. 8, 2023, initially serving in an interim capacity. ODEC announced Lee’s retirement, effective Feb. 1, on Monday. He will serv[...]
Inova pays $2.37M to settle False Claims Act allegations
Three Inova Health entities have agreed to pay more than $2.37 million to settle claims that Inova submitted Medicaid claims containing falsified information. The U.S. Attorney’s Office for the Eastern District of Virginia announced on Friday the agreement with Inova Health System Foundation, Inova Health Care Services and[...]
Va. casinos report $57M in October revenue
Gaming revenues for Virginia’s three casinos totaled $57.04 million in October, according to data the Virginia Lottery released Friday. Last month, the temporary Bristol Casino: Future Home of Hard Rock reported about $13.41 million in adjusted gaming revenues (wagers minus winnings), of which about $11.16 million came fro[...]
Smithfield Foods to pay $2M to settle child labor claims
A subsidiary of Virginia-based Smithfield Foods has agreed to pay $2 million to settle allegations it hired children to work at a meat packaging plant in Minnesota. According to the Minnesota Department of Labor and Industry, Smithfield’s operation in Minnesota allegedly employed at least 11 children between the ages of 14[...]
Specialty coils manufacturer to expand in Chesterfield
Super Radiator Coils, an engineering and manufacturing company based in Minnesota, will invest $22 million to expand in Chesterfield County, creating an estimated 160 jobs, Gov. Glenn Youngkin’s office announced Friday. The company will upgrade machinery and add about 80,000 square feet to its existing approximately 160,00[...]
Paragon Systems fined $52M for alleged fraud
Herndon-based federal contractor Paragon Systems agreed Tuesday to pay $52 million to resolve allegations by the U.S. Department of Justice that Paragon used its own subsidiaries to fraudulently win small business set-aside contracts, violating the federal False Claims and Anti-Kickback acts. The company is one of the federal go[...]
Permanent Hard Rock Bristol casino opens
The bright lights of Bristol shine considerably brighter now following the opening of Virginia’s second full-fledged casino. Thursday heralded the grand opening of the $515 million-plus Hard Rock Hotel & Casino Bristol, Virginia’s first hotel/casino combo. Symphonies of sounds, from music to slot machines, indica[...]
Pittsylvania megasite wins $1.3B battery separator project
Tennessee-based Microporous will invest $1.3 billion to build its battery separator manufacturing facility at the Southern Virginia Megasite at Berry Hill in Pittsylvania County, Gov. Glenn Youngkin announced Wednesday. The company expects the project to create 2,015 jobs. The megasite’s first tenant, Microporous will deve[...]
