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Federal agency boosts size of most single-family loans the government can guarantee to $832,750

Summary:

  • lifts 2026 conforming loan limit to $832,750
  • Increase reflects a 3.3% rise in US
  • High-cost areas like LA and NYC will see limits above $1.24 million
  • and guarantee conforming loans, not jumbos

The Federal Housing Finance Agency is increasing the size of home loans that the government can guarantee against default as it takes into account rising housing prices.

Beginning next year, mortgage buyers Fannie Mae and Freddie Mac will be able to acquire loans of up to $832,750 on single-family homes in most of the country, the agency said Tuesday.

The new conforming loan limit is a 3.3% increase from its 2025 level.

FHFA oversees Fannie Mae and Freddie Mac, which buy home loans from banks and other lenders, guaranteeing them against default. The loans are then bundled into securities sold to investors.

But FHFA sets limits to the size of the loans that Fannie and Freddie can buy. Such loans are known as conforming loans, while mortgages above the conforming loan limit are known as .

FHFA adjusts the limits of a confirming loan annually to reflect changes in U.S. home values, which have been rising this year, albeit more slowly.

The U.S. has been in a slump since 2022, when began climbing from historic lows. Sales of previously occupied U.S. homes sank last year to their lowest level in nearly 30 years.

Sales have remained sluggish this year, running essentially flat compared to last year through the first 10 months of 2025, even after getting a boost this fall as the average rate on a 30-year mortgage declined to its lowest level in more than a year.

The FHFA’s House Price Index showed that, on average, U.S. home prices climbed 3.3% in the July-September quarter compared to a year earlier.

The 2026 single-family home conforming loan limit will apply to most of the country, though the FHFA allows higher loan limits for certain states, such as Alaska and Hawaii, and in counties where the local median home value is more than double the conforming loan limit.

For example, the conforming loan limit for single-family homes in Los Angeles and New York counties will be $1,249,125 starting next year.

New limits for a rent algorithm that prosecutors say let landlords drive up prices

Summary:

  • settles DOJ case over rent-pricing software
  • Company barred from using real-time confidential data for pricing
  • Critics say algorithm enabled to coordinate and raise rents
  • States and cities nationwide are cracking down on rent-setting tools

Landlords could no longer rely on rent-pricing software to quietly track each other’s moves and push rents higher using confidential data, under a settlement between RealPage Inc. and federal prosecutors to end what critics said was illegal “algorithmic collusion.”

The deal announced Monday by the follows a yearlong federal antitrust lawsuit, launched during the Biden administration, against the Texas-based software company. RealPage would not have to pay any damages or admit any wrongdoing. The settlement must still be approved by a judge.

RealPage software provides daily recommendations to help landlords and their employees nationwide price their available apartments. The landlords do not have to follow the suggestions, but critics argue that because the software has access to a vast trove of confidential data, it helps RealPage’s clients charge the highest possible rent.

“RealPage was replacing competition with coordination, and renters paid the price,” said DOJ antitrust chief Gail Slater, who emphasized that the settlement avoided a costly, time-consuming trial.

Under the terms of the proposed settlement, RealPage can no longer use that real-time data to determine price recommendations. Instead, the only nonpublic data that can be used to train the software’s algorithm must be at least one year old.

“What does this mean for you and your family?” Slater said in a video statement. “It means more real competition in local housing markets. It means rents set by the market, not by a secret algorithm.”

RealPage attorney Stephen Weissman said the company is pleased the DOJ worked with them to settle the matter.

“There has been a great deal of misinformation about how RealPage’s software works and the value it provides for both housing providers and renters,” Weissman said in a statement. “We believe that RealPage’s historical use of aggregated and anonymized nonpublic data, which include rents that are typically lower than advertised rents, has led to lower rents, less vacancies, and more procompetitive effects.”

Over the past few months, more than two dozen property management companies have reached various settlements over their use of RealPage, including Greystar, the nation’s largest landlord, which agreed to pay $50 million to settle a class action lawsuit, and $7 million to settle a separate lawsuit filed by nine states.

The governors of California and New York signed laws last month to crack down on rent-setting software, and a growing list of cities, including Philadelphia and Seattle, have passed ordinances against the practice.

Ten states — California, Colorado, Connecticut, Illinois, Massachusetts, Minnesota, North Carolina, Oregon, Tennessee and Washington — had joined the DOJ’s antitrust lawsuit. Those states were not part of Monday’s settlement.

Stocks climb on hopes for lower interest rates as Dow rallies 660 points

Summary:

  • rises 0.9% and nears record high
  • Traders see ~83% chance of December Fed rate cut
  • Mixed data shows soft sales, weaker
  • Retailers including Abercrombie, Kohl’s and Best Buy report strong profits

NEW YORK (AP) — The U.S.  climbed again Tuesday on hopes for a coming cut to .

The S&P 500 rose 0.9% after breaking out of a morning lull and is back within 1.8% of its all-time high. The Industrial Average rallied 664 points, or 1.4%, and the Nasdaq composite gained 0.7%.

Stocks got a boost from easing yields in the bond market. Lower interest rates can cover up many sins in financial markets, including prices going too high, and hopes are strong that the Federal Reserve will cut its main interest rate at its next meeting to juice the economy further.

A raft of mixed on Tuesday left traders betting on a nearly 83% probability that the Fed will cut in December, according to data from CME Group. That’s roughly the same as a day before and up sharply from the coin flip’s chance that they saw just a week ago.

One of Tuesday’s reports said that shoppers bought less at U.S. retailers in September than economists expected. Another said confidence among U.S. consumers worsened by more in November than expected, a second signal that the economy could potentially use the help of lower interest rates.

Easier rates can boost the economy by encouraging households and companies to borrow more and investors to pay higher prices for investments than they would otherwise.

A third report, meanwhile, said at the wholesale level was a touch worse in September than economists expected, but a closely tracked underlying trend was slightly better. That’s important because lower interest rates can make inflation worse, and high inflation is the main deterrent that could keep the Fed from cutting rates.

After taking all the data together, economists suggested the Fed and its chair, Jerome Powell, could be leaning toward cutting rates on Dec. 10. The Fed has already cut rates twice this year in hopes of shoring up the slowing job market.

“Taking a pause on rate cuts would probably do more damage to sentiment than a cut would help,” according to Brian Jacobsen, chief economist at Annex Wealth Management, who also said “Powell doesn’t need to be the Grinch that stole Christmas.”

Easier interest rates can give particularly big boosts to smaller companies, because many of them need to borrow to grow. The Russell 2000 index of the smallest U.S. stocks jumped 2.1% to lead the market.

Elsewhere on Wall Street, several retailers leaped after delivering stronger profits for the summer than analysts expected.

Abercrombie & Fitch soared 37.5% after the apparel seller reported a better profit than expected. It also raised the bottom end of its forecasted range for revenue and profit over the full year.

Kohl’s surged 42.5% after reporting a profit for the latest quarter, when analysts were expecting a loss. Best Buy rose 5.3% after boosting its profit forecast for the full year following a better-than-expected third quarter, citing strength across computing, gaming and mobile phones.

Dick’s Sporting Goods erased an early drop of 4% to add 0.2%. It raised its forecast for results at its Dick’s stores, though its purchase of Foot Locker is requiring some work. Executive Chairman Ed Stack said the company is “cleaning out the garage” at Foot Locker by clearing inventory, closing poorly performing stores and making other moves.

Swings also continued in the artificial-intelligence industry, which has battled concerns that too many dollars are pouring into data centers and may not produce the revolution of bigger profits and productivity that proponents are predicting.

rose another 1.5%, continuing a strong run on excitement about its recently released Gemini AI model. Chinese giant Alibaba, meanwhile, saw its stock that trades in the United States fall 2.3% after losing an early gain. It reported stronger revenue than analysts expected for the latest quarter thanks in part to the boom, but its overall profit fell short of forecasts.

Some chip companies dropped sharply following a report from The Information that Meta Platforms is in talks to spend billions of dollars on AI chips from Alphabet instead of them. Nvidia sank 2.6% and Advanced Micro Devices dropped 4.1%.

All told, the S&P 500 rose 60.76 points to 6,765.88. The Dow Jones Industrial Average rallied 664.18 to 47,112.45, and the Nasdaq composite gained 153.59 to 23,025.59.

In the bond market, the yield on the 10-year Treasury eased to 4.00% from 4.04% late Monday.

In stock markets abroad, indexes rose across Europe and Asia. Germany’s DAX returned 1%, and stocks in Shanghai climbed 0.9% for two of the world’s bigger moves.

___

AP Business Writer Elaine Kurtenbach contributed.

Best Buy ups sales outlook heading into holiday shopping ramp-up

Summary:

  • ‘s comparable sales rose 2.7% in Q3, the strongest gain in four years
  • CEO says deal-focused shoppers are still spending on innovation
  • Company lifts full-year profit and revenue outlook despite tariff pressures

Best Buy raised its profit and sales expectations ahead of the ramp-up on Black Friday after a strong third quarter.

Comparable-store sales at the nation’s largest chain rose 2.7%, fueled by computing, gaming and mobile phones. It was the biggest gain in four years for the Minnesota retailer.

Shares rose nearly 6% in early afternoon trading.

Best Buy’s CEO Corie Barry told reporters on a call Tuesday that the chain is making sure that it has a broad range of products across all price points. That breadth of assortment has helped the chain pick up more lower income shoppers, she said.

“The consumer is not a monolith,” Barry told reporters. “Generally, what we are seeing remains a generally resilient consumer. They are deal focused, so definitely looking for those predictable sales events.”

But Barry said that doesn’t mean shoppers are looking for the lowest prices but rather ones that offer the best value.

“And they’re willing to spend when they need to or when there’s innovation,” she said.

The strong quarter is an encouraging sign for Best Buy, which like almost all U.S. companies, has spent months navigating an uncertain economic environment as President Donald Trump imposes wide-ranging tariffs on imports. The electronics industry can be particularly hard hit by because so many good are imported.

Consumer sentiment has sagged and the just ended 43-day federal shutdown did not help.

Shoppers seemingly continue to spend, though there are broad signs that they have grown more cautious and often are lured only by discounts.

is still stubborn, yet the consumer impact is not as bad as originally feared because Best Buy and other retailers have absorbed some of those increases. They have also diversified supply networks to dodge tariffs. And so price increases have only been applied to a small amount of products, Best Buy executives said.

Barry told reporters that many shoppers are buying gadgets like computers to replace their older ones, or they’re looking for innovative products like getting their hands on new gaming consoles.

Barry estimates that the top 40% of all U.S. consumers are driving two-thirds of all consumption, but while the remaining 60% of U.S. consumers are spending less freely, it’s not “dire” because the job market has held up. This group is focusing on need or getting the best deals, she said.

“One of the things we’re watching closely is how does employment continue to evolve for particularly that cohort of people who are living more paycheck to paycheck,” she added.

Best Buy reported net income of $140 million, or 66 cents per share, for the three-month period ended Nov. 1, or $1.40 when adjusted for one-time charges and benefits.

That was 9 cents better than Wall Street had expected, according to a survey by FactSet, though far below last year’s $273 million, or $1.26 per share.

Sales rose to $9.67 billion from $9.45 billion, also beating expectations.

The company raised its per share forecast for the current year to between $6.25 and $6.35 per share. That’s up from the previous range of between $6.15 and $6.30 per share.

It also now expects sales of $41.65 billion to $41.95 billion for the year, up from its original forecast of $41.1 billion to $41.9 billion.

Best Buy also forecasts that comparable sales will be up anywhere from 0.5% to 1.2% for the year. Its earlier forecast called for a 1% decline to an increase of 1%.

Amazon to invest $50B to expand federal AI, computing capacity

SUMMARY:

  • plans to invest up to $50 billion starting in 2026 to expand and supercomputing for U.S. government customers
  • Adds 1.3 GW of AI and supercomputing power across regions
  • Total new investment for Virginia not yet revealed

Amazon on Monday announced a major plan to invest up to $50 billion to expand and supercomputing capacity for Amazon Web Services’ federal cloud customers.

Starting in 2026, AWS will begin building advanced new , adding nearly 1.3 gigawatts of AI and supercomputing power to serve U.S. government customers on the company’s AWS Top Secret, AWS Secret and AWS GovCloud (U.S.) platforms.

“Our investment in purpose-built government AI and cloud infrastructure will fundamentally transform how leverage supercomputing,” AWS CEO Matt Garman said in a statement. “We’re giving agencies expanded access to advanced AI capabilities that will enable them to accelerate critical missions from cybersecurity to drug discovery. This investment removes the technology barriers that have held government back and further positions America to lead in the AI era.”

Through the investment, federal agencies will also gain broader access to AWS’s full suite of AI services, including Amazon SageMaker AI for model training and customization, Amazon Bedrock for model and agent deployment, AWS Trainium AI chips and AI infrastructure. Amazon said the expanded capabilities will help agencies develop custom AI solutions, optimize massive datasets and enhance workforce productivity.

Amazon says the new capabilities will accelerate discovery and decision-making across government missions — helping agencies achieve in hours what once took weeks or months. It also said integrating AI with modeling and simulation will help America tackle complex challenges with “unprecedented” speed and precision. AWS supports more than 11,000 government agencies.

It is not clear how much of the $50 billion investment will specifically go toward Virginia infrastructure.

The AWS US East (Northern Virginia) Region launched in 2006 and has data centers in Loudoun, Fairfax and Prince William counties. According to the most recently released data, AWS invested $63.9 billion in Virginia data centers between 2011 and 2022. The company credits AWS US East for adding an estimated $21.3 billion to the state’s gross domestic product and supporting 16,600 jobs.

In 2023, AWS announced plans to invest an additional $35 billion in Virginia by 2040 to establish multiple data center campuses across the state, adding a projected 1,000 jobs. An Amazon spokesperson confirmed on Tuesday that the new $50 billion investment does not include the previously announced $35 billion earmarked for Virginia data centers.

About $11 billion of that $35 billion Virginia investment is being allocated to two data centers under construction in Louisa County, where Amazon recently scrapped plans for a third data center campus amid backlash from county residents.

Earlier this month, Amazon provided an update on its Cosner Tech campus in the Fredericksburg region, where it has invested over $480 million, supporting hundreds of construction jobs and creating more than 50 permanent positions. The 329-acre campus will eventually include seven data centers.

Amazon as a whole has invested more than $161.3 billion in Virginia since 2010, including infrastructure and employee compensation, creating more than 43,000 full and part-time jobs. The company states that its investments have also supported an additional 117,500 jobs indirectly statewide in fields such as construction and professional services.

Raytheon joint venture wins $1.25B Israeli Iron Dome contract

Raytheon-Rafael Protection Systems (R2S), a joint venture between –based aerospace and defense contractor and ‘s Rafael Advanced Defense Systems, has been awarded a $1.25 billion contract to supply Israel with Tamir surface-to-air missiles for that nation’s air defense system.

RTX, which participates in the venture through its business, announced the award last week. The direct commercial sales contract includes missiles, missile kits and test equipment, according to the company.

“This is the first production contract for the R2S joint venture and a major milestone for both Raytheon and Rafael,” said Jonathan Casey, R2S CEO, in a statement.

R2S will perform work at a new facility that opened earlier this month in East Camden, Arkansas. The companies invested $63 million to build the facility, which was established to support Israel’s missile defense organizations within the Ministry of Defense.

The site will be used to produce the Tamir missiles for Israel’s Iron Dome Weapon System and its U.S. variant, SkyHunter for the Marine Corps’ Medium-Range Intercept Capability program.

“The new Camden site is the first all-up-round production facility in the U.S. to manufacture Tamir and SkyHunter missiles,” Casey said.

Raytheon and Rafael have partnered for over a decade on the Iron Dome system, developed by Rafael and operational since 2011. According to RTX, Israel’s Iron Dome has intercepted thousands of threats with a success rate of more than 95%.

RTX said the U.S. equivalent, SkyHunter, is a short to medium-range air defense weapon designed to counter a range of threats, including cruise missiles, aircraft, rockets, artillery and mortars.

RTX has more than 185,000 employees globally and reported more than $80.73 billion in 2024 sales. The contractor is the second highest-ranked Virginia-based company on the 2025 Fortune 500. RTX’s Raytheon business unit is also based in Arlington.

Consumer confidence slides as Americans grow wary of high costs and sluggish job gains

Summary:

WASHINGTON (AP) — U.S. consumers were much less confident in the in November in the aftermath of the government shutdown, weak hiring and stubborn inflation.

The said Tuesday that its consumer confidence index dropped to 88.7 in November from an upwardly revised October reading of 95.5, the lowest reading since April, when President Donald Trump announced sweeping tariffs that caused the to plunge.

The figures suggest that Americans are increasingly wary of high costs and sluggish job gains, with perceptions of the labor market worsening, the survey found. Declining confidence could pose political problems for Trump and Republicans in Congress, as the dimmer views of the economy were seen among all political affiliations and were particularly sharp among independents, the Conference Board said.

Earlier Tuesday, a government report showed that retail sales slowed in September after healthy readings over the summer. While economists forecast healthy growth for the July-September quarter, many expect a much weaker showing in the final three months of the year, largely because of the shutdown.

Less-confident consumers may spend less, though the connection isn’t always clear. In recent years, has held up even when the available data suggests they’ve grown more anxious.

“We do not think that consumer spending is about to hit a cliff, as spending has decoupled from confidence, but risks to the downside are increasing,” Thomas Simons, chief U.S. economist at Jefferies, an investment bank, said.

The proportion of consumers that said jobs are “plentiful” dropped to 27.6% in November, down from 28.6% in the previous month. It is down sharply from 37% in December.

At the same time, 17.9% said jobs are “hard to get,” slightly below the 18.3% who said so in October. That figure is up from 15.2% in September. The figures on job availability are seen by economists as reliable predictors of hiring and the rate.

Americans continue to worry about elevated costs, fueling the “affordability” concerns that were a key issue in elections earlier this month.

“Consumers’ write-in responses pertaining to factors affecting the economy continued to be led by references to prices and inflation, tariffs and trade, and politics, with increased mentions of the federal ,” said Dana Peterson, chief economist at the Conference Board. The shutdown ended Nov. 12.

The economy likely grew at a solid annual rate of about 3% in the July-September quarter, economists estimate. But growth is likely to slow in the final three months of the year, largely because of the shutdown, which cut off pay for federal workers, disrupted contracts, and interrupted air travel.

The Conference Board survey ran through Nov. 18, about five days after the shutdown ended.

US retail sales rose slightly in September, adding to months of big gains

Summary:

  • U.S. and restaurant sales rose 0.2% in September
  • High prices and weak are pressuring lower-income households
  • Holiday season expected to see modest gains with sales topping $1T
  • Wage growth has slowed, widening the gap between high- and low-income workers

WASHINGTON (AP) — Sales at U.S. retailers and restaurants increased modestly in September as resilient consumers moderated their spending after splurging over the summer.

Sales rose 0.2% in September from the previous month, the said Tuesday, in a report delayed more than a month because of the . Sales jumped 0.6% in July and August and 1% in June. Numerous reports on , employment, spending, and growth remain delayed and the government won’t likely be caught up until late December.

The retail sales figures suggest that Americans pulled back a bit in September as many households are still struggling with high prices for groceries, rent, and many imported goods hit by . Still, the modest increase in spending may lift the ‘s growth to a solid 3% or higher annual rate in the July-September quarter, economists forecast, after a sluggish 1.6% in the first half of the year.

At the same time, hiring has been weak and the rate has ticked higher, which could drag down consumer spendin g and the broader economy if it worsens. Unemployment rose to 4.4% in September, the highest in nearly four years, from 4.3%, according to the delayed monthly jobs report released last week.

Higher-income consumers are driving much of the gains, according to data from Bank of America and reports from retailers such as Walmart, as l ower-income shoppers seek bargains and are more likely to spend more on necessities. .

Tuesday’s report comes before the crucial winter holiday season kicks off this weekend, when retailers earn as much as a fifth of their revenues. The National Retail Federation and other forecasters expect modest sales gains this year, compared with last year’s holiday, with the NRF projecting that sales will top $1 trillion for the first time.

Separately, wholesale prices rose 0.3% in September from August, the Labor Department said Tuesday, and 2.7% compared with a year ago.

The retail sales figures land as many economic data are coming in mixed. Wage growth has slowed this year and is just modestly above inflation, a trend that is likely driving Americans’ concerns around affordability.

, on average, rose 3.8% in September from a year ago, the government said last week. That is only modestly above September’s annual inflation rate of 3%.

But for many Americans, particularly those earning lower incomes or for older workers, wages are rising more slowly and are clearly trailing inflation.

The Bank of America Institute estimates that for the poorest one-third of households, pay grew just 1% in October from a year earlier, while the highest one-third saw their wages rise 3.7%. The gap between higher- and lower-income households matches an August figure as the widest in nearly a decade, the bank said.

How We’ll Eat, Shop + Travel in 2026

Last month, Elevation and AMA Richmond brought together marketers and business leaders for a look at the year ahead and how to plan effectively.

How We’ll Eat, Shop + Travel in 2026 explored the forces reshaping three of the most universal consumer sectors.

Setting the Stage

Elevation Senior Vice President Corey Lane opened the session by naming what’s on every marketer’s mind: uncertainty. “This year has just felt different,” he began, noting that marketers’ established long-term goals are being reevaluated against shifting economic realities, automation, and social change. “With things changing by the day—from disruptions and to consumer behavior—the best we can do is be proactive about how we’ll react.”

Elevation was inspired to explore the sectors shaping consumer quality of life to support clients who have expressed frustration about the challenge of long- and near-term planning. “Even if you don’t work in grocery, , or tourism,” Lane noted, “what happens in these industries will affect your customers, your colleagues, and your household.”
To unpack the outlooks in these sectors, the panel featured three Virginia-based national experts:

  • Laura Strange, Chief Communications & Engagement Officer at the National Grocers Association (NGA)
  • Nancy Thomas, President & CEO of InUnison, representing the Virginia Retail Federation and the National Retail Federation
  • Dan Roberts, Vice President of Research & Strategy at Virginia Tourism Corporation

Eating in 2026: Health, Personalization, and the Local Advantage

The NGA’s Laura Strange opened the discussion with a look inside the grocery aisles, describing how independent grocers nationwide are navigating rising costs and changing expectations. “Margins remain tight, but customers are returning to stores more often,” Strange explained, citing NGA data showing grocery trips per household rising by over 10%. That trend, she said, speaks to renewed appreciation for local stores and the personalized service they offer.

Today’s consumers are driven by value, convenience, and community connection. Independent grocers are standing out by delivering seamless, omnichannel experiences, functionally-focused products, and satisfying the growing appetite for culinary fusions and global flavors.
Strange noted that as , tariffs, and labor costs pressure the industry, retailers are investing in technology and loyalty programs that put personalization first.

Shopping in 2026: Emotional Economies and the Pursuit of Value

Nancy Thomas of InUnison discussed how evolving consumer sentiment is reshaping Main Street. Her message: retail is resilient, but it’s being redefined.

Drawing from new data from the National Retail Federation, Thomas described a paradoxical consumer mood: cautious but still spending. “People are more deliberate now,” she said. “They’re shopping for meaning as much as merchandise.” That shift is forcing retailers to rethink what “value” means. For some, it’s price and convenience. For others, it’s sustainability, experience, or community impact. “2026 will be defined by both value and by values,” Thomas emphasized, echoing a broader theme of the panel, “People want to support local, authentic companies with values that align to their own.”

Thomas also shared breaking reporting from NRF’s Holiday Retail Forecast, projecting a 3.7% to 4.2% YOY increase in national core retail sales, equating to $1.02T in . Thomas pointed to a narrowing gap between online and brick-and-mortar sales as one factor driving this projection.

Tourism in 2026: Cutting Through the F.O.G.

Finally, Dan Roberts of Virginia Tourism Corporation unpacked what’s ahead for travel, and what it means for the state’s $36B tourism industry.

His central metaphor was that the travel market in 2025 is in a “F.O.G.: Fragmented and Flipped, On-Edge, and Guarded but Growing.” Despite economic uncertainty, travel remains an emotional priority.

“The is steady but fragile,” Roberts said, noting that consumer spending continues to rise modestly even as job growth cools. High-end travelers are driving industry growth, and Virginia’s hotel sector is outperforming national averages, fueled by demand rather than pricing. Roberts also pointed to a steady increase in rail travel, benefiting destinations like Richmond, which value-seeking travelers can access easily from Northeast markets like Philadelphia, D.C., Baltimore, and Boston.

Roberts’ advice mirrored the session’s broader takeaway: “Stay agile. Focus on proximity and value. The future belongs to those who can adapt quickly.”

A Common Thread

Across grocery aisles, retail storefronts, and travel corridors, one theme kept recurring: value-seeking consumers. Every panelist agreed that these customers are shaping the future, defining value as much by quality, purpose, connectivity, and experience as by price. The economy may be steadying on paper, but for many people, life still feels hectic and uncertain. The brands winning in this environment are those that seek to deeply understand their customers and show up for them in meaningful ways.
That means personalization, customer service, and relationships matter as much as deals and discounts. Empathy must become a core strategy, grounded in curiosity about how and why people’s needs and priorities are constantly evolving. The main takeaway was clear: plan with humility, stay flexible, and remain connected to the needs of the people you serve.
Headquartered in Richmond, Virginia, Elevation is an integrated advertising agency dedicated to elevating brands through creative and strategic excellence. Since 2001, Elevation has delivered a higher level of thinking and a higher level of service, helping regional and national marketers achieve a higher level of success.

Watch the full on-demand discussion here

BAE Systems promotes VP to chief global supply chain officer

Falls Church-based announced Monday that it has named Brad Pelachyk as its senior vice president and chief global officer, effective Dec. 20.

Pelachyk, who has more than 30 years of global procurement and supply chain experience, will succeed Ann Ackerson, who plans to retire.

In this role, Pelachyk will report to Tom Arseneault, the company’s president and CEO, and will serve as the company’s procurement leader and a member of the senior team, as well as leading the company’s global supply chain organization.

“Brad’s leadership and expertise will position our supply chain team to continue advancing the growth and success of our business,” said Arseneault in a statement. “I also want to thank Ann for her many years of dedicated service to our company and congratulate her on a successful and distinguished career.”

Palachyk most recently served as the company’s vice president of supply chain, where he oversaw operational efficiency, emphasized procurement savings, mitigated supplier risk and spurred digital transformation.

Before joining BAE Systems, he held leadership roles at Thales Group and FIAT Group. He has a bachelor’s degree in international business from Northwood University and a master’s degree in business administration from the University of Michigan’s Ross School of Business.

BAE Systems Inc. has about 41,000 employees worldwide and reported $16.85 billion in 2024 sales.