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Boeing CEO Calhoun to step down by year-end
Amid ongoing bad press over production problems and fallout from a high-profile January incident in which a 4-foot wall panel blew out of a Boeing 737 Max 9 jet cabin in mid-air, Boeing announced Monday that its president and CEO, Dave Calhoun, would step down from his position leading the embattled Arlington County-based Fortun[...]
JBG Smith pledges 1,000 affordable housing units if arena passes
Developer JBG Smith pledged Friday to preserve 1,000 workforce-affordable housing units in Alexandria near the proposed sports arena and entertainment district, up from its previous promise of 500 units — upping the ante on the controversial project, which has one more chance to succeed this year. The $2 billion public-private[...]
‘Bipartisanship’ fizzled in General Assembly this session
RICHMOND, Va. — Democrats and Republicans emphasized bipartisanship and working across the aisle after the election, in press conferences and throughout the legislative session, but the sentiment seemed to fizzle by the end. Lawmakers wrapped up the busy 60-day session on March 9 after they passed a biennial budget and ove[...]
Va. Beach economic developer to lead Va. Beach Vision
Laura Hayes Chalk is leaving Virginia Beach’s economic development department to become the executive director of Virginia Beach Vision, a business advocacy group in Virginia Beach, Virginia Beach Vision announced Tuesday. Chalk, who will start July 10, succeeds Martha McClees, who announced her retirement in November 2023[...]
Tucker Door & Trim enters Va. with $10M Henrico plant
Tucker Door & Trim, a Georgia-based distributor and manufacturer of doors, windows and specialty millwork for the construction industry, will soon open its first facility in Virginia, creating 50 jobs, Gov. Glenn Youngkin announced Wednesday. Tucker Door & Trim will invest $10 million in a Henrico County manufacturing an[...]
Atlantic Union names new Hampton Roads president
Richmond-based Atlantic Union Bank has named Lisa Morgan its new Hampton Roads market president, the Richmond-based bank announced Monday. Morgan will also continue to hold the role of wealth relationship director with the bank’s wealth consulting group, a position she has held since she joined Atlantic Union Bank in 2021. Mor[...]
W&M receives $30M anonymous donation
An anonymous William & Mary alumna has donated $30 million to renovate and rename a building in honor of former U.S. Secretary of Defense Robert M. Gates, who is currently the university’s chancellor. Robert M. Gates Hall will house three academic centers — the Global Research Institute, the Institute for Integrative[...]
MicroStrategy buys $623M more bitcoin in March
Tysons-based tech company MicroStrategy continues to grow its cryptocurrency collection, acquiring more than 9,200 more bitcoins in one week in March. From March 11 to March 18, MicroStrategy acquired approximately 9,245 bitcoins for approximately $623 million in cash, according to the company’s Tuesday filing with the U.S. Se[...]
McLean AI health care startup raises $111M in Series A funding
McLean-based Zephyr AI has raised $111 million in a Series A funding round, the health care technology startup announced March 13. The round included participation from about 30 investors, including Revolution Growth, Eli Lilly & Co., Jeff Skoll, and Epiq Capital Group, according to a news release and a Securities and Exchan[...]
HII’s Mission Technologies secures $305M DIA contract
Huntington Ingalls Industries’ McLean-based Mission Technologies division won a $305 million Defense Intelligence Agency contract to provide intelligence analysis and operational support services for the Joint Intelligence Operations Center – Korea, assisting the United States Forces Korea (USFK), HII announced Tuesday. Unde[...]
Virginia Tech announces new CFO
Virginia Tech has hired Simon Allen as its chief financial officer and vice president for finance, the university announced Monday. Allen is currently vice president for finance and CFO of the Ithaca campus of Cornell University. In his new role, which he’ll start May 6, Allen will report to Virginia Tech Executive Vice Pr[...]
Alger leaving JMU to head American University
American University announced Monday that James Madison University President Jonathan Alger will be its next president, starting July 1. Alger joined the Harrisonburg public university in 2012. Alger will be the 16th president of AU, a private university in Washington, D.C., replacing President Sylvia Burwell. During his tenure,[...]
