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Averett president steps down after 3 months, citing wife’s illness
David Joyce stepped down Friday as the 15th president of Averett University due to a family medical matter, according to the Danville private school. “It is with a heavy heart I share that my wife, Lynne, has experienced a serious medical diagnosis that will require our fulltime attention,” Joyce said in a statement. “Lynn[...]
Averett files lawsuit alleging ex-CFO, firm ‘drained’ school’s endowment fund
Danville private university Averett University has filed a federal lawsuit alleging its former chief finance officer worked with an investment firm to conceal illicit draws from its endowment that were used to cover budget deficits. In a complaint filed March 26 in the U.S. District Court for the Western District of Virginia, Av[...]
Warner worried about Microporous $100M grant
U.S. Sen. Mark Warner, Virginia’s senior Democratic senator, is worried about the possibility of the Trump administration clawing back a $100 million federal grant awarded by the U.S. Department of Energy (DOE) to Microporous, the Tennessee company planning to invest $1.3 billion to build a lithium-ion battery separator fa[...]
Danville-Pittsylvania authority invests in history
Using a $1.89 million loan from the Virginia Small Business Financing Authority, Danville and Pittsylvania County officials plan to purchase about 289 acres adjacent to the Southern Virginia Megasite at Berry Hill. Members of the Danville-Pittsylvania Regional Industrial Facility Authority (RIFA) unanimously agreed in January to[...]
Hooker exits Georgia warehouse as part of consolidation effort
Martinsville-based Hooker Furnishings announced this week that it will end operations at its Savannah, Georgia, warehouse as part of a consolidation effort. “Our decision to exit our Savannah distribution facility was not taken lightly,” Hooker Furnishings CEO Jeremy Hoff said in a statement. “We deeply appreciate the hosp[...]
Hooker Furnishings adds showroom dedicated to international audience
Martinsville-based Hooker Furnishings is demonstrating its commitment to serving a worldwide audience with the debut of its dedicated International Buyer Showroom at the upcoming High Point Market in North Carolina that will run April 26-30. Set apart from its flagship showroom, the dedicated 5,000-square-foot space is located [...]
Southern Va. Big Deal: Microporous’ mega project
Microporous’ decision to invest $1.35 billion to build a battery component plant in Pittsylvania County is a mega deal not just for the region but for the state. “The company will create over 2,000 jobs in multiple phases and the potential is there for, frankly, additional job creation beyond that,” says Matt Rowe, the[...]
Southern Va. Year-in-Review: Major projects landed in region
For Danville and Pittsylvania County, 2024 was a monumental year. In November 2024, battery-component manufacturer Microporous broke ground on a $1.3 billion plant at the Southern Virginia Megasite at Berry Hill, where it expects to create 2,015 jobs. The following month in Danville, Caesars Virginia hosted the grand opening of [...]
Va. casinos report more than $72M in January revenue
January gaming revenues from Virginia’s casinos totaled $72.34 million, according to a report from the Virginia Lottery released Friday. Last month, Hard Rock Bristol casino reported about $18.52 million in adjusted gaming revenues (wagers minus winnings), of which about $15.16 million came from 1,486 slots and $3.36 milli[...]
Goodyear to cut 850 jobs in Danville
About 850 jobs will be cut by the end of the year at Goodyear’s tire manufacturing facility in Danville, according to a document the tiremaker posted Tuesday. The Goodyear Tire & Rubber Co., which is headquartered in Ohio, reached an agreement on Jan. 30 with the United Steelworkers union “to reduce the company’[...]
Bassett returns to profitability in Q4, beats expectations
Bassett Furniture reported revenue of $84.3 million in the fourth quarter, an 11% decrease from last year, on Wednesday. However, a positive operating income of $900,000 means the company has returned to profitability after five consecutive quarters in the red. The Henry County home furniture manufacturer and retailer beat expec[...]
Press Glass shifts N.C. operations to Henry County
Press Glass, a fabricator of flat glass for the commercial construction industry, is shuttering its Stoneville, North Carolina, operation and moving toward fabricating and delivering all products from its operation in Ridgeway, where the company has produced glass since 2020. Of 178 workers at the North Carolina plant, 110 are t[...]
