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Georgia regulators approve huge electric generation increase for data centers

Summary:

  • regulators unanimously approved Georgia Power’s plan to expand capacity by 50%
  • The $16.3 billion build-out is aimed largely at powering tied to artificial intelligence growth
  • Utility customers could ultimately pay $50B–$60B over decades, including interest and guaranteed profit
  • Critics warn ratepayers may shoulder the risk if data center demand fails to materialize

ATLANTA (AP) — Georgia’s only private electric utility plans to increase power capacity by 50% after state regulators on Friday agreed 5-0 that the plan is needed to meet projected demand from data centers.

It would be one of the biggest build-outs in the U.S. to meet the insatiable electricity demand from developers of artificial intelligence. The construction cost would be $16.3 billion, but staff members say customers will pay $50 billion to $60 billion over coming decades, including interest costs and guaranteed profit for the monopoly utility.

Georgia Power Co. and the Public Service Commission pledge large users will more than pay for their costs, and that spreading fixed costs over more customers, could help significantly cut residents’ power bills beginning in 2029.

“Large users are paying more so families and small businesses can pay less, and that’s a great result for Georgians,” Georgia Power Kim Greene said in a statement after the vote.

But opponents say the five elected Republicans on the commission are greenlighting a risky bet by the utility to chase data center customers with existing ratepayers left holding the bag if demand doesn’t materialize.

“The need for 10,000 megawatts of new capacity resources on the system in the next six years isn’t here,” said Bob Sherrier, a lawyer representing some opponents. “It just isn’t, and it may never be.”

The approval came less than two months after voters rebuked GOP leadership, ousting two incumbent Republicans on the commission in favor of Democrats by overwhelming margins. Those two Democrats won in campaigns that centered on six Georgia Power rate increases commissioners have allowed in recent years, even though the company agreed to a three-year rate freeze in July.

Peter Hubbard and Alicia Johnson — the Democrats who will take office Jan. 1 — opposed Friday’s vote. But current commissioners refused to delay.

Electric bills have emerged as a potent political issue in Georgia and nationwide, with grassroots opposition to data centers partly based on fears that other customers will subsidize power demands of technology behemoths.

Georgia Power is the largest unit of Atlanta-based Southern Co. It says it needs 10,000 megawatts of new capacity — enough to power 4 million Georgia homes — with 80% of that flowing to data centers. The company has 2.7 million customers today, including homes, businesses and industries.

Whether the company’s projections of a huge increase in demand will pan out has been the central argument. Georgia Power and commission staff agreed Dec. 9 to allow the company to build or acquire all the desired capacity, despite staff earlier saying the company’s forecast included too much speculative construction.

In return, the company agreed that after the current rate freeze ends in 2028, it would use revenue from new customers to place “downward pressure” on rates through 2031. That would amount to at least $8.50 a month, or $102 a year, for a typical residential customer. That customer currently pays more than $175 a month, including taxes.

“So we’re taking advantage of the upsides from this additional revenue, but allow it to shift the downside and the risk over to the company. And I’m real proud of that,” Commission Chairman Jason Shaw said after the vote.

But “downward pressure” doesn’t guarantee a rate decrease.

“It doesn’t mean your bills are going down,” said Liz Coyle, executive director of consumer group Georgia Watch. “It means that maybe they’re not going up as fast.”

Existing customers would pay for part of the construction program that doesn’t serve data centers. More importantly, opponents fear Georgia Power’s pledge of rate relief can’t be enforced, or won’t hold up over the 40-plus years needed to pay off new natural-gas fired power plants.

In a Monday news conference, Hubbard likened it to a mortgage “to build a massive addition to your home for a new roommate, big tech.”

“If in 10 years, the AI bubble bursts or the data centers move to a cheaper state, then the roommate moves out, but the mortgage doesn’t go away,” he said.

Staff members say the commission must watch demand closely and that if data centers don’t use as much power as projected, Georgia Power must drop agreements to purchase wholesale power, close its least efficient generating plants and seek additional customers.

Many opponents oppose any new generation fueled by natural gas, warning carbon emissions will worsen climate change. Some opponents were escorted out of the commission meeting by police after they began chanting “Nay! Nay! Nay! The people say nay!”

“Increased natural gas output for the sake of these silicon billionaire kings seems like a lose-lose,” opponent Zak Norton told commissioners Friday.

Head of workplace rights agency urges white men to report discrimination

Summary:

  • Chair Andrea Lucas urged white men to report alleged race or sex at work
  • Lucas said some diversity, equity and inclusion initiatives violate federal law
  • The call aligns with President Trump’s executive orders targeting programs
  • Former EEOC officials and legal experts criticized the move as misleading and selective

The head of the U.S. agency for enforcing workplace civil rights posted a social media call-out urging white men to come forward if they have experienced race or sex discrimination at work.

“Are you a white male who has experienced discrimination at work based on your race or sex? You may have a claim to recover money under federal civil rights laws,” U.S. Equal Employment Opportunity Commission Chair Andrea Lucas, a vocal critic of diversity, equity and inclusion, wrote in an X post Wednesday evening with a video of herself. The post urged eligible workers to reach out to the agency “as soon as possible” and referred users to the agency’s fact sheet on “DEI-related discrimination” for more information.

Lucas’ post, viewed millions of times, was shared about two hours after Vice President  posted an article he said “describes the evil of DEI and its consequences,” which also received millions of views. Lucas responded to Vance’s post saying: “Absolutely right @JDVance. And precisely because this widespread, systemic, unlawful discrimination primarily harmed white men, elites didn’t just turn a blind eye; they celebrated it. Absolutely unacceptable; unlawful; immoral.”

She added that the EEOC “won’t rest until this discrimination is eliminated.”

A representative for Vance did not respond to a request for comment. Lucas said Thursday evening that “the gaslighting surrounding what DEI initiatives have entailed in practice ends now. We can’t attack and remedy a problem if we refuse to call it out for what it is — race or sex discrimination — or acknowledge who is harmed.”

She added that “the EEOC’s doors are open to all,” and Title VII of the Civil Rights Act of 1964 “protects everyone, including white men.”

Since being elevated to acting chair of the EEOC in January, Lucas has been shifting the agency’s focus to prioritize “rooting out unlawful DEI-motivated race and sex discrimination,” aligning with ‘s own anti-DEI executive orders. Trump named Lucas as the agency’s chair in November.

Earlier this year, the EEOC along with the Department of Justice issued two “technical assistance” documents attempting to clarify what might constitute “DEI-related Discrimination at Work” and providing guidance on how workers can file complaints over such concerns. The documents took broad aim at practices such as training, employee resource groups and fellowship programs, warning such programs — depending on how they’re constructed — could run afoul of Title VII of the Civil Rights Act, which prohibits employment discrimination based on race and gender.

Those documents have been criticized by former agency commissioners as misleading for portraying DEI initiatives as legally fraught.

David Glasgow, executive director of the Meltzer Center for Diversity, Inclusion, and Belonging at the NYU School of Law, said Lucas’s latest social posts demonstrate a “fundamental misunderstanding of what DEI is.”

“It’s really much more about creating a culture in which you get the most out of everyone who you’re bringing on board, where everyone experiences fairness and equal opportunity, including white men and members of other groups,” Glasgow said.

The Meltzer Center tracks lawsuits that are likely to affect workplace DEI practices, including 57 cases of workplace discrimination. Although there are instances in which it occurs on a case-by-case basis, Glasgow said he has not seen “any kind of systematic evidence that white men are being discriminated against.”

He pointed out that CEOs are overwhelmingly white men, and that relative to their share of the population, the demographic is overrepresented in corporate senior leadership, Congress, and beyond.

“If DEI has been this engine of discrimination against white men, I have to say it hasn’t really been doing a very good job at achieving that,” Glasgow said.

Jenny Yang, a former EEOC chair and now a partner at law firm Outten & Golden, said it is “unusual” and “problematic” for the head of the agency to single out a particular demographic group for civil rights enforcement.

“It suggests some sort of priority treatment,” Yang said. “That’s not something that sounds to me like equal opportunity for all.”

On the other hand, the agency has done the opposite for transgender workers, whose discrimination complaints have been deprioritized or dropped completely, Yang said.

The EEOC has limited resources, and must accordingly prioritize which cases to pursue. But treating charges differently based on workers’ identities goes against the mission of the agency, she said.

“It worries me that a message is being sent that the EEOC only cares about some workers and not others,” Yang said.

November US homes sales rose from the previous month, but down from 2024 as prices climb

Summary:

  • US existing rose 0.5% in November from October but fell 1% from a year earlier
  • The median home price climbed to a record $409,200 for November
  • Sales remain stuck near a 4 million annual pace, well below historical norms
  • First-time buyers continue to struggle amid high prices and limited inventory

Sales of previously occupied U.S. homes rose in November from the previous month, but slowed compared to a year earlier for the first time since May despite average long-term mortgage rates holding near their low point for the year.

Existing home sales rose 0.5% in last month from October to a seasonally adjusted annual rate of 4.13 million units, the National Association of Realtors said Friday.

Sales fell 1% compared with November last year. The latest sales figure came in slightly below the 4.14 million pace economists were expecting, according to FactSet.

Through the first 11 months of this year, home sales are down 0.5% compared to the same period last year.

“It’s possible that 2025, unless December (sales) figures really improve, we may be technically slightly down from one year ago,” said Lawrence Yun, NAR’s chief economist.

One factor limiting home sales is weaker demand for condominiums. Sales of condos are down 6% so far this year, Yun noted.

Despite sluggish sales, home prices continued to climb last month. The national median sales price increased 1.2% in November from a year earlier to $409,200, an all-time high for any November on data going back to 1999.

Home prices have risen on an annual basis for 29 months in a row, even as the housing market has been mired in a slump that began in 2022 when mortgage rates 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 been stuck at around a 4-million annual pace now going back to 2023. That’s well short of the 5.2-million annual pace that’s historically been the norm.

Home sales got a boost this fall as the average rate on a 30-year mortgage declined at the end of October to 6.17%, the lowest level in more than a year.

Even so, affordability remains a challenge for many aspiring homeowners, especially first-time buyers who don’t have equity from an existing home to put toward a new home purchase. Uncertainty over the economy and job market are also keeping many would-be buyers on the sidelines.

A shortage of homes for sale, especially in the more affordable end of the market, continues to weigh especially on first-time homebuyers. They accounted for 30% of homes sales last month. Historically, they made up 40% of home sales.

An annual survey of homebuyers by NAR showed first-time buyers accounted for an all-time low 21% of home purchases between July 2024 and June 2025, while the average age of such homebuyers rose to a record-high of 40.

Homes purchased last month likely went under contract in September and October, when the average rate on a 30-year mortgage ranged from 6.5% to 6.17%, according to Freddie Mac. Mortgage rates have mostly remained close to their October low in recent weeks.

Home shoppers who can afford to buy at current mortgage rates benefited from a wider selection of properties on the market last month than a year ago, although the number of homes for sale in November declined from the previous month.

There were 1.43 million unsold homes at the end of last month, down 5.9% from October and up 7.5% from November last year, NAR said.

The latest inventory snapshot remains well below the roughly 2 million homes for sale that was typical before the COVID-19 pandemic.

November’s month-end inventory translates to a 4.2-month supply at the current sales pace. Traditionally, a 5- to 6-month supply is considered a balanced market between buyers and sellers.

Yun is forecasting that existing U.S. home sales will jump 14% next year. That’s more optimistic than several other housing economist forecasts, which range from a 1.7% to 9% increase.

Economists generally forecast that the average rate on a 30-year mortgage will remain slightly above 6% next year.

Sony buys a majority stake in the ‘Peanuts’ comic for $457 million from Canada’s WildBrain

Happiness is taking control of a beloved comic strip.

is buying a 41% stake in the Charles M. Schulz comic “Peanuts” and its characters including Snoopy and Charlie Brown from Canada’s WildBrain in a $457 million deal, the two companies said Friday.

The deal adds to Sony’s existing 39% stake, bringing its shareholding to 80%, according to a joint statement. The Schulz family will continue to own the remaining 20%.

“With this additional ownership stake, we are thrilled to be able to further elevate the value of the ‘Peanuts’ brand by drawing on the Sony Groupʼs extensive global network and collective expertise,” Sony Music President Shunsuke Muramatsu said.

“Peanuts” made its debut Oct. 2, 1950 in seven newspapers. The travails of the “little round-headed kid” Charlie Brown and pals including Linus, Lucy, Peppermint Patty and his pet beagle Snoopy eventually expanded to more than 2,600 newspapers, reaching millions of readers in 75 countries.

The strip offers enduring images of kites stuck in trees, Charlie Brown trying to kick a football, tart-tongued Lucy handing out advice for a nickel and Snoopy taking the occasional flight of fancy to the skies. Phrases such as “security blanket,” “good grief” and “happiness is a warm puppy” are a part of the global vernacular. Schulz died in 2000.

Sony acquired its first stake in Peanuts Holdings LLC in 2018 from Toronto-based WildBrain Ltd. In Friday’s transaction, Sony’s music and movie arms signed a “definitive agreement” with WildBrain to buy its remaining stake for $630 million Canadian dollars ($457 million).

Rights to the “Peanuts” brand and management of its business are handled by a wholly-owned subsidiary of Peanuts Holdings.

WildBrain also owns other kids’ entertainment franchises including Strawberry Shortcake and Teletubbies.

AeroFarms secures funding, delays Ringgold facility closure

SUMMARY: 

  • secured short-term funding to continue operations at its Ringgold facility.
  • Closure of indoor vertical farm put on hold until January
  • For now, only 18 workers will be furloughed; more than 100 other jobs in limbo

AeroFarms, an company based in Ringgold, announced Friday that it will continue operating and supplying its microgreens to shoppers.

The news came as a surprise since a little more than a week ago, Carlos Nunez, AeroFarms’ vice president of , informed the state that the company planned to close its facility at Cane Creek Centre — a joint industrial park for the city of and — this Friday and that 173 employees would be out of work just before the holiday season.

“Since that time, the company’s circumstances have evolved rapidly,” AeroFarms said in a news release Friday. “An existing stakeholder has agreed to provide funding to AeroFarms, enabling the company to continue operations and explore strategic alternatives.”

The status of the 173 employees mentioned in Nunez’s Dec. 11 letter to the state was not addressed in Friday’s news release.  A request for comment about the employees was not immediately returned by an AeroFarms spokesperson.

However, Nunez sent an update to the state dated Friday, suggesting the bulk of employees may get, at least, a brief reprieve.

In the notice, Nunez wrote that entities connected to AeroFarms have “secured short-term funding to continue core operations at the facility.”

“The companies are pursuing strategic options,” Nunez wrote. “Given the short-term funding they received, they have notified the remaining employees that any facility closure would now occur between [Jan. 2 and Jan. 16, 2026].”

The newer state notification reports that 18 mostly remote employees, including seven Virginians, will be temporarily furloughed, beginning Friday. These positions are primarily leadership roles such as the director of engineering and vice president of technology development.

In its earlier notification, AeroFarms stated 173 employees, including 127 who live in Virginia, would lose their jobs when the Ringgold facility closed. In Friday’s letter, Nunez stated that if the facility closes, it would result in the permanent termination of 135 remaining employees. Of those, 102 are Virginians, according to the notice. These positions at risk run the gamut, ranging from AeroFarms’ and chief financial officer to technician and operator jobs.

In a Dec. 11 notice, Nunez said AeroFarms’ largest investor unexpectedly withdrew further financial support. The company attempted to secure alternative funding, efforts that initially failed.

At about noon Friday, Ken Larking, Danville’s city manager, said he had not heard from representatives of AeroFarms. “We’re a little bit in the dark right now,” Larking said.

Shortly after 1 p.m., Larking reported he’d seen AeroFarms’ notice to the state about keeping the facility open until January. “I don’t know if that means that they’re still trying to find investors or not,” he said.

Matt Rowe, economic development director for Pittsylvania County, learned that AeroFarms had put together funding to keep microgreens in stores temporarily through the local news.

“It is certainly positive that an existing investment group has stepped up to fund the company’s operations thought the holidays,” Rowe said in a statement. “However, it is still disappointing that there is a real possibility of the company ceasing to exist by the end of January. I’m hopeful that the company can secure additional funding commitments to continue operations.”

Repeatedly during the interview, Rowe returned the conversation to the AeroFarms employees who thought they would lose their jobs right before the holidays and who now may be out of work by January.

“This is our community,” he said. “These are real lives that are impacted.”

In April 2023, AeroFarms transferred its New Jersey commercial production to its commercial farm at Cane Creek Centre. A few months later, AeroFarms filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code; however, the company pledged to keep up its efforts in Southern Virginia.

On Aug. 7, AeroFarms announced it had refinanced its debt to support ongoing operations at its Cane Creek Centre farm and had raised equity financing to support existing operations and fund pre-construction activities for its expansion to a second farm.

Equity was provided by existing investors including Grosvenor Food & AgTech, a London-based investor in food and companies; Ingka Investments, a Netherlands-based investor; and Cibus Capital, a London-based investment adviser in sustainable food and agriculture, according to the August news release.

Siguler Guff, a New York-based private markets investment firm, provided AeroFarms with an asset-based loan to pay off previous debt facility from Horizon Technology Finance, a Connecticut-based venture lending platform, according to the news release.

In Friday’s press release, AeroFarms expressed gratitude to its stakeholders, employees and others for their support and said, “The company is committed to its mission of growing and distributing flavorful, nutrient-dense greens while supporting a resilient and sustainable food system.”

In 2019, then-Gov. Ralph Northam announced that AeroFarms would invest $42 million to build a vertical farm in Cane Creek Centre. The company celebrated the opening of their new 138,670-square-foot facility with a ribbon-cutting in 2022.

As an economic incentive from the state, AeroFarms received a $200,000 Agriculture and Forestry Industries Development Fund grant in 2019, according to Rob Damschen, director of communications for the Office of the Governor.

AeroFarms was set to receive an additional incentive in 2022, but that one was not distributed because the company didn’t meet metrics like capital investments or job creation, according to Damschen.

U.Va. names next president, defying Spanberger

Summary:

The University of Virginia’s board named Darden School of Business Dean Scott Beardsley as the university’s 10th president on Friday, disregarding calls from Gov.-elect Abigail Spanberger and faculty groups to pause the process.

Beardsley will take office Jan. 1, 2026, according to the board’s announcement. “Scott brings exceptional qualifications to this role,” the board’s email to the U.Va. community said. “The board was unanimous in its vote. We are confident that Scott’s leadership, vision and commitment to the U.Va. community uniquely position him to serve as president at this moment.”

The Washington Post reported Thursday that Beardsley, who was appointed to his third term as the business school’s dean in December 2024, was the apparent front-runner in the university’s search for its new president.

Gov. Glenn Youngkin congratulated Beardsley on his appointment in a post on X. “I know Dean Beardsley only by his reputation, which is stellar, and based on his accomplishments at the Darden School of Business, which is consistently ranked as the top public business school in the country.” Youngkin thanked the board and its special search committee, “who conducted a robust, world-class search process.”

While Spanberger’s transition team did not immediately issue a statement after U.Va.’s announcement, other Virginia Democratic officials indicated that there may be more controversy ahead for the university and Beardsley.

Sen. Louise Lucas, president pro tempore of the Virginia State Senate, tweeted after Friday’s announcement, “Scott Beardsley, you will quickly learn about the separation of powers between branches and what happens when one branch gives a middle finger to another that funds, regulates and allows their existence. Buckle up.”

Democratic state Sen. Aaron Rouse, who chairs the Senate Privileges & Elections Committee that considers gubernatorial board appointments, reposted U.Va.’s announcement about Beardsley’s hiring, while adding, “We’ll see about that. The U.Va. Board of Visitors is not fully constituted. … We have clear oversight over U.Va.’s Board of Visitors, and we intend to exercise it this upcoming session.”

Lt. Gov.-elect Ghazala Hashmi wrote in a statement Friday that “Youngkin’s decision to advance the appointment of a new president at the University of Virginia in the waning days of his administration, just as Gov.-elect Abigail Spanberger prepares to assume office, raises serious concerns about process, institutional norms and respect for a democratic transition.”

Beardsley, dean of U.Va.’s Darden business school since 2015, was named 2020 Dean of the Year by Poets & Quants, an online publication covering business schools. He has raised more than $610 million for Darden over the past decade and was instrumental in opening Darden’s satellite campus in Arlington County.

He holds a degree in electrical engineering from Tufts University, an MBA from the MIT Sloan School of Management and a doctorate in higher education management from the University of Pennsylvania. Before coming to U.Va., he worked for McKinsey & Co.

“I am deeply grateful to these leaders for giving me the opportunity to serve and the commonwealth of Virginia and to learn from them over the past 10 years,” Beardsley said in a statement. “I especially want to thank President Emerita Terry Sullivan, who took a chance on me; President Emeritus , for his leadership during a pivotal period and for reappointing me to his team twice; and interim President Paul Mahoney, who graciously stepped forward as interim president, for all they have done to move the university forward.”

Beardsley succeeds Ryan, who resigned in late June under political pressure from the . Because of the controversy surrounding Ryan’s departure, which took place during a U.S. Department of Justice investigation into alleged law violations, Spanberger wrote a letter to the U.Va. Board of Visitors requesting that it hold off on hiring a new president until she takes office on Jan. 17, 2026, and is able to fill five empty seats on the board.

The U.Va. Faculty Senate followed suit in calling for a pause in the hiring process, and last week, it approved a resolution calling for finalists in the search to “demonstrate a commitment to the U.Va. community by joining us in calling for a pause in the process to allow for additional deliberation and due diligence on the part of the university.”

The Faculty Senate also warned finalists that “any individual selected for the presidency under the current search timeline and by a board that does not have its full complement of 17 members including 12 alumni and 12 Virginia residents should be aware they will not assume their position with the confidence of the Faculty Senate if hired as U.Va.’s 10th president.”

Senate President Jeri Seidman said in an interview following the board’s announcement that she was “very disappointed” in the decision to make a hiring decision before the end of the year, saying that the BOV’s members showed their “commitment to political alliances,” rather than “commitment to the university.” She did not have a comment on the hiring of Beardsley, noting that the Faculty Senate did not weigh in on individual candidates.

A group of nine U.Va. deans sent a letter Dec. 1 to the BOV asking for a postponement in hiring the next president, according to a report by The Cavalier Daily, but Beardsley was not among the signers.

Faculty and staff organizations also have demanded the resignations of U.Va. Rector Rachel Sheridan and Vice Rector Porter Wilkinson, who were both involved in negotiations with the DOJ, and whom Ryan alleged had hired an attorney to represent the board who then exerted pressure on him to resign, saying that it was a requirement for U.Va. to reach a settlement on civil rights charges.

In a letter to the Faculty Senate made public, Ryan alleged that Gov. Glenn Youngkin, members of the Board of Visitors and attorneys hired by the board may have been behind the push to resign — rather than the DOJ, which has denied a “quid pro quo” scenario. However, U.Va. board member and benefactor disputed Ryan’s take on the matter, defending the university’s negotiations with the Justice Department.

In October, interim U.Va. President Paul Mahoney, a former U.Va. Law dean, reached a deal with the DOJ that didn’t call for financial penalties but does require the university to file quarterly reports through the end of 2028 with the assistant attorney general who leads the DOJ’s civil rights division. Critics have decried the deal as harmful to academic freedom and representing capitulation to the Trump administration.

A week after her gubernatorial election victory, Spanberger requested in a letter to Sheridan and Wilkinson that they pause the university’s search for a new permanent president. She also criticized the Youngkin-appointed board’s actions over the past six months.

“The actions of the Board of Visitors have severely undermined the public’s and the university community’s confidence in the board’s ability to govern productively, transparently and in the best interests of the university,” Spanberger wrote in the Nov. 12 letter, which arrived a day before Ryan’s letter. For his part, Youngkin sent Spanberger a reply, blasting what he called “hyperbole and factual errors” in her missive.

“As stated at the outset of this search, we have been committed to an inclusive, transparent and thoughtful process to ensure the next president of the University of Virginia is equipped to play a critical role in the future of our great institution,” Sheridan, who also chaired the search committee, said in a statement Friday. “After careful deliberation and close consultation with the U.Va. community and stakeholders throughout the process, including faculty, staff, students, alumni and parents, we are honored to announce Dean Beardsley as the university’s next leader.”

Over the second half of the year, Youngkin was embroiled in a legal dispute with nine state Senate Democrats over a Senate committee’s rejection of the governor’s 22 university board appointees, including five U.Va. Board of Visitors seats. In early December, the legal battle ended, with both sides acknowledging that the case was moot because of Spanberger’s election and the upcoming General Assembly session.

Spanberger expects to name 22 board members for U.Va., George Mason University and Virginia Military Institute immediately upon taking office next month, she has said.

Despite Spanberger’s call for the board to pause its presidential search, the special committee in charge of interviewing candidates has continued its work, meeting in person and virtually with interviewees in recent weeks, although often outside the public eye. At 1 p.m. Friday, the full board went into closed session after a brief open session, which was open to the public but not streamed online, as board of visitors meetings typically are.

Outside an office building in Charlottesville where the board met, protesters from U.Va.’s United Campus Workers and American Association of University Professors chapters chanted and held signs decrying the board and the future president.

“It doesn’t matter who is named, if it’s before the end of January, it will violate many admonitions to wait until the BOV is recalibrated by the governor-elect,” Walter F. Heinecke, a U.Va. professor who serves on the AAUP chapter’s executive committee, wrote in a text message before Friday’s meeting. “This board should not be appointing anyone right now. It’s an out-of-compliance board. It is the same board that facilitated Ryan’s ouster by the DOJ.”

The board’s announcement said that Beardsley was among 27 candidates reviewed by the search committee, out of more than 100 nominations.

Cannabist Co. strikes $130M deal for Virginia medical marijuana biz

The Cannabist Co. has scrapped a previously announced $110 million deal to sell its Central Virginia medical business to a subsidiary of Connecticut-based marijuana products provider , opting instead for a $130 million sale to an entity affiliated with Boston-based hedge fund , the company announced Thursday.

The transaction involves ‘s Green Leaf Medical of Virginia subsidiary, which cultivates, manufactures and sells in the greater Richmond region. The Virginia assets to be sold include five retail locations, one additional retail location under development, and about 82,000 square feet of cultivation and production capacity. Curaleaf announced plans Dec. 2 to buy these assets.

The new agreement follows a go-shop period during which The Cannabist Co. could seek competing offers. The deal comes the same year the company announced it was forming a special committee to consider asset sales, mergers or other transactions amid financial challenges facing the industry.

During the go-shop Period, The Cannabist Co. received the $130 million proposal from Millstreet and determined it was the superior deal. The company delivered a written notice to Curaleaf terminating the agreement on Thursday. The Cannabist Co. will pay Curaleaf a $3.3 million breakup fee for terminating the earlier deal.

In a Friday news release, Curaleaf said it determined the $130 million competing bid “exceeded the rational fair value for the assets.”

“Curaleaf will continue to be opportunistic and disciplined in its strategy,” the company said.

Under the new agreement, the Millstreet affiliate, Parma Holdco, will acquire 100% of Green Leaf Virginia for a total price of $130 million, with $117.5 million paid in cash at closing. The remaining $12.5 million will be placed into escrow at closing and released in two parts: up to $1 million upon the finalization of the post-closing purchase price adjustments, and the remaining amount after nine months, provided the funds are not needed to satisfy indemnification obligations.

The deal is expected to close in early 2026 or sooner, following closing conditions and regulatory approvals. The Cannabist Co. did not immediately return requests for comment.

In related news, President  on Thursday signed an order directing the loosening of  on marijuana, a move that could further reverse decades of tough-on-weed policy.

Trump’s order instructs the attorney general to quickly move ahead with reclassifying marijuana. If that happens, the psychoactive plant would be listed alongside common painkillers, ketamine and testosterone as a less dangerous drug.

Such a decision would represent one of the most significant federal changes to  in decades. It could reshape the cannabis industry, unlock billions in research funding and open doors long closed to banks and investors.

Stocks of cannabis-related companies gained on the news from Washington. U.S.-listed shares of Tilray, Aurora Cannabis, SNDL and Canopy Growth gained between 6% and 12% in afternoon trading.

The Associated Press contributed to this report.

Burke & Herbert to acquire Pa. bank in $354M deal

Alexandria-based Financial Services has entered a definitive agreement to acquire Linkbancorp in an all-stock transaction worth about $354.2 million.

Dating to 2018, Link is the holding company for Linkbank, a Pennsylvania state-chartered bank. The expands Burke & Herbert Bank & Trust’s reach into Pennsylvania and adds 24 locations across Pennsylvania, Maryland, Delaware and Virginia.

The Linkbancorp acquisition will be Burke & Herbert’s second. The company previously acquired Summit Financial Group in a $371.5 million deal in 2024.

“Our entry into Pennsylvania and the expanded presence across key mid-Atlantic markets underscores our unwavering commitment to community banking and reinforces our reputation as a trusted financial partner wherever we operate,” Burke & Herbert Chair and David P. Boyle said in a statement.

According to the holding companies’ announcement Thursday, Burke & Herbert will pay $9.38 per share of Link common stock, based on Burke & Herbert’s common stock closing price of $69.45 on Wednesday.

The merged bank’s holding company is expected to have approximately $11 billion in total assets and about $9.1 billion in total deposits.

The transaction is expected to close in the second quarter of 2026. Holders of Link common stock will have the right to receive 0.135 shares of Burke & Herbert common stock per Link share. The companies expect existing Burke & Herbert shareholders to own about 75% of the outstanding shares of the combined company, and Link shareholders to own about 25%.

Andrew Samuel, who will serve as a senior adviser, and two other members of the Link board of directors will join Burke & Herbert’s board when the transaction closes. On the executive side, Carl Lundblad will be executive vice president and Brent Smith will be Pennsylvania market leader for Burke & Herbert.

The companies expect a combined earnings per share of approximately $9.18 in the first full year of combined operations, assuming fully realized cost savings.

Founded in 1852, Burke & Herbert Bank & Trust currently has more than 75 branches across Virginia, Delaware, Kentucky, Maryland, Virginia and West Virginia. As of Sept. 30, the company had $6.4 billion in deposits and more than $7.88 billion in total assets.

SHRM Linkage taps new CEO

Alexandria-based firm has appointed Tracey Walker as its new , effective. Dec. 3.

She succeeded former Linkage CEO Tamala Oates-Forney, who, according to her LinkedIn profile, is now self-employed. Linkage did not immediately return requests for comment.

Founded in 1988, Linkage focuses on delivering research-driven talent and leadership development services. The company was acquired by the (SHRM) in 2022. At the time, it had more than 250 clients.

“It is my privilege to assume the role of CEO at SHRM Linkage,” said Walker in a statement. “This is a critical moment for organizations to elevate how they develop leaders and unlock the full potential of their talent to drive performance. We are committed to expanding the transformative impact Linkage delivers to organizations around the world. Together, we are setting a new standard for leadership excellence.”

Walker brings more than two decades of experience in business, government and professional services. Before joining Linkage, Walker spent 19 years as a principal and chief culture officer at global accounting and consulting firm RSM, followed by a serving as chief experience officer at management consultancy Alvarez and Marsal.

“We are thrilled to welcome Tracey as the new leader of Linkage,” said Syed Wasey, SHRM’s acting executive vice president of global business, in a statement. “With a proven record of enterprise transformation, cross-sector impact and award-winning results, she is uniquely positioned to drive SHRM Linkage into its next era — strengthening leadership pipelines, advancing organizational trust and driving sustained innovation and growth for organizations worldwide.”

Walker has been named one of the American Institute of Certified Public Accountants’ 50 Most Powerful Women in Accounting, received the Association of Government Accountants President’s Award and was honored as the Association of Latino Professionals for America’s 2025 Executive of the Year.

Based in , SHRM is a and people management association that represents nearly 340,000 HR professionals in 180 countries.

Owens & Minor to change name on Dec. 31

Henrico County-based logistics and supply company announced Thursday that it plans to change its name to , effective Dec. 31.

The name will only impact the parent corporation, not subsidiary companies. The change, the company said, is “intended to better reflect the company’s strategic direction and future organizational focus as a leader in the home-based care market.”

The company, which did not immediately return requests for further comment, will continue to operate its Apria and Byram health care brands.

“The renaming of our organization is another milestone in the strategic transformation of our company as a leading, pure-play home-based care business that puts the patient first while consistently delivering long-term profitable growth,” President and Edward A. Pesicka said in a statement. “Our commitment to providing the highest-quality offerings to patients throughout the country remains unchanged. By becoming Accendra Health, we mark the next exciting chapter in our evolution as a company.”

Due to the name change, the company will change its stock ticker symbol to “ACH.” The company’s common stock is expected to begin trading on the New York Stock Exchange under the new name and ticker symbol on Jan. 2, 2026, the same date Accendra will launch a new website and URL.

In October, Owens & Minor announced plans to sell its largest business segment, Products & Healthcare Services, for $375 million to Platinum Equity, a California private equity firm. The move made Owens & Minor substantially smaller. And in June, Owens & Minor backed out of a $1.36 billion deal to buy Rotech Healthcare Holdings, a Florida home-based health care business. As a result of the termination of the , Owens & Minor paid a cash termination fee of $80 million.

Owens & Minor reported $10.7 billion in fiscal 2024 revenue, up from $10.3 billion in 2023.