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Out & About August 2024
On June 13, Virginia Business honored the winners of the 2024 Virginia CFO Awards during the magazine’s annual black-tie banquet at Richmond’s Jefferson Hotel. Photos by Rick DeBerry. 1. L to R: Virginia CFO Awards nominee Paul Huckfeldt of Hooker Furnishings and wife, Annette; 2024 CFO Awards winner Joel Flax of Cohen Investment Group and wife, […]
Broadband aid
A couple of Holstein cows poke their heads through the metal gates of the barn as Mark Sowers fiddles with one of his most important pieces of farm equipment — a smartphone. Sowers opens an app on his phone that gives him real-time information from the nearly 300 milking cows that roam Huckleberry Dairy, the […]
Virginia 500 Spotlight August 2024: MAGGIE REED
PERSONAL MOTTO: She believed she could, so she did. WHAT MAKES ME HAPPIEST: I am happiest outdoors doing almost anything or curled up with a book and my dogs. HOBBY/PASSION: I love to read and to learn — be it podcasts, audiobooks, physical books or life experiences. HOW I CHOSE MY CAREER: I went to […]
Amazing race
Virginia is reaping thousands of jobs and huge tax revenues as Amazon.com revamps its U.S. delivery network. The e-commerce giant is opening major distribution centers and sorting facilities across the commonwealth as part of its nationwide strategy to get goods to consumers faster and stay one step ahead of competitors like Wal[...]
Military Circle plans shift in new direction
The fate of Norfolk’s closed Military Circle Mall has yet to be determined, but city officials are considering how the property could leverage sports tourism and offer retail and housing options. The city bought the 54-year-old, long-declining mall building and the surrounding 73 acres in 2020 for $11 million. As Norfolk seeks[...]
2024 Virginia CFO Awards: Large Business: Sean Daily, CAES
Sean Daily, chief financial officer of Arlington County defense technology contractor CAES, didn’t set out to forge a career in defense. But an interest in corporate finance, sparked by an internship at Marriott International, combined with an opportunity to join Lockheed Martin after his graduation from Virginia Tech. Soon en[...]
For The Record August 2024
CENTRAL VIRGINIA Tobacco giant Altria Group, headquartered in Henrico County, will be allowed to market four different menthol-flavored e-cigarettes, the U.S. Food and Drug Administration said June 21. The announcement came two months after the Biden administration controversially delayed a decision on banning menthol cigarette sales. Marketed under Altria’s NJOY brand, the products are the […][...]
2024 Virginia CFO Awards: Small Business: Joel Flax, Cohen Investment Group
Joel Flax hadn’t planned on serving as a chief financial officer after retiring from a full-fledged career as an accountant and tax advisor. But it also wasn’t the first time he made an unexpected career shift. In college, he had wanted to be a sportswriter. But shortly after graduating from William & Mary with a [&helli[...]
Merger mania
Banking mergers and acquisitions are picking back up again after the slowest year in recent history, and Virginia is no exception. Last year marked a modern low in merger and acquisition activity, with only 98 deals completed nationwide. That’s not just the lowest level of activity since the pandemic — it’s the slowest yea[...]
Caesars Virginia — a work in progress
Lots can change over three years and eight months. Back in September 2020, Danville, its industrial development authority and Nevada-based Caesars Entertainment signed a development agreement naming Caesars the city’s preferred gaming operator and outlining the parties’ obligations. Back then, Caesars budgeted $400 million t[...]
