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2025 Virginia Black Business Leaders Awards: Melissa Cade

Cade was promoted to her current role in January 2024, after 24 years with the as director of its call center, director of retail, regional president of branches and senior vice president of product and innovation. She now oversees Chartway’s branch and member care teams, as well as the credit union’s multicultural initiatives.

FIRST JOB: My first job in high school was at McDonald’s. My first professional role was as a relationship banker with Bank of America.

WHY I CHOSE MY PROFESSION: I’m passionate about creating meaningful, people-centered financial solutions. Early in my career, I saw how connecting people with the right solution changed their lives. It inspired me to pursue a leadership role to drive these experiences on a large scale by combining my strategic thinking, empathy and leadership skills to build a system that truly enhances lives.

HOW I GIVE BACK: I participate in leadership programs at Chartway and the African American Credit Union Coalition, offering guidance on career development to emerging leaders. I also serve on the Chartway Promise Foundation Board. Seeing individuals gain confidence and achieve their goals is incredibly rewarding and aligns with my commitment to building a better future.

BOOK I’D RECOMMEND: “Everything is Figureoutable,” by Marie Forleo resonates with me. It reminds me that every problem has a solution if approached with resilience, creativity and collaboration, and inspires me to roll up my sleeves, engage others and tackle complex problems with determination and an open mind.

FAVORITE PLACE I’VE TRAVELED: The beautiful province of Bali in Indonesia! The beaches were stunning and the landscapes colorful and lush.

2025 Virginia Black Business Leaders Awards: Benita Thompson-Byas

Thompson-Byas joined the company started by her brother Warren Thompson right at its launch in 1992. Over the past three decades, Thompson has grown from a group of 31 Big Boy to become the nation’s largest minority-owned hospitality business. Thompson-Byas is in charge of the company’s partnership with Compass Group, including more than 600 dining centers worldwide.

MOST MEANINGFUL JOB: Being a mother to my college sophomore son and my college graduate daughter has been my most meaningful “job,” to the extent that this vital role can be considered a job. This purpose has shaped my character and taught me lessons in patience, resilience and unconditional love.

WHY I CHOSE MY PROFESSION: My brother invited me to join him 32 years ago, and that decision opened the door to a career I deeply cherish. I’ve found purpose in this field by working to uplift communities and fostering opportunities for local businesses to thrive.

PROUDEST PROFESSIONAL ACCOMPLISHMENT: Building a sustainable framework for supporting minority-owned businesses and enabling their success in a global market. By providing these businesses with the tools and opportunities to thrive, I’ve witnessed communities grow stronger, economies expand and legacies take root. Knowing that I’ve contributed to this transformation fills me with pride and purpose.

WHAT I’VE LEARNED: I’ve learned that your “lane” is uniquely yours. Focus on the journey set before you and avoid comparisons, as they can diminish your joy and progress. Take inspiration from others, but recognize the value of your own distinct contributions. By embracing this perspective, you can move forward with confidence and gratitude.

2025 Virginia Black Business Leaders Awards: Deirdre C. Gonsalves-Jackson

Trained as a biologist, Gonsalves-Jackson leads Virginia Wesleyan’s online, Japanese, evening and weekend programs under the umbrella of the VWU Global Campus. She’s been recognized for STEM outreach and has received multiple teaching and community engagement . In 2024, she was promoted from dean to vice president.

FIRST JOB: My first job after graduating college was as a biology lab technician at Hampden-Sydney College, where I was responsible for setting up laboratories for a variety of upper and lower-level biology courses. This job was my first experience working behind the scenes in and contributed to my desire to obtain a Ph.D. and return to higher education as an educator.

HOW I GIVE BACK: As vice president for VWU Global Campus, my research and administrative leadership focus on providing access to higher education for women, the financially needy, first-generation and underrepresented groups to provide them with impactful educational opportunities. I am fortunate to be in a position that allows me to contribute to their education and upward mobility.

PROUDEST PROFESSIONAL ACCOMPLISHMENT: Completing my Ph.D. in marine biology at Florida Tech was a huge accomplishment because it was a difficult road due to many unforeseen circumstances. Although I am very proud of overcoming these obstacles, the moment that gives me the most pride is receiving the Alumna Legacy for Women Inspiring Success and Excellence (WISE) from Florida Tech.

WHAT I’VE LEARNED: Opportunities present themselves when you have done the preparation and hard work and then happen to be in the right place at the right time.

2025 Virginia Black Business Leaders Awards: Yvonne Allmond

Allmond joined in 2005 and has more than three decades of experience in and . Although she moved around in her youth as part of a military family, Allmond is today settled into civic life, having served on boards for , Norfolk State University Foundation and the Virginia Center for Inclusive Communities.

FIRST JOB: Editorial assistant at the FDIC while in college

WHY I CHOSE MY PROFESSION: My position at the FDIC provided me with financial information that I knew my parents and family did not have. I was inspired to learn this information to assist them. I am still doing that.

HOW I GIVE BACK: I sit on many boards and am able to provide a different point of view on many issues affecting those of us who did not grow up with wealth. Board members are well-meaning people who want to do the right thing, and while giving financial support is very helpful, knowing the recipients of your mission is also key.

PROUDEST PROFESSIONAL ACCOMPLISHMENT: I am proud to have mentored so many young men and women, as well as businesses.

BOOKS I’D RECOMMEND: John Hope Bryant has great advice for creating legacies through financial literacy. His information can be life-changing to communities. “I’m Not Yelling: A Black Woman’s Guide to Navigating the Workplace,” by Elizabeth Leiba, is a great book that I share with young women of color in the workplace.

HOBBIES: I love science fiction movies, new and the old black-and-white movies. I also like to put things together, such as furniture and toys. I have my own tools!

The Virginia Home plans $128M campus in Hanover

The Virginia Home plans to build a $128 million, 75-acre campus in , according to a Thursday announcement by the , which serves adults with irreversible physical disabilities. The current facility in Richmond will be sold, a spokesperson said.

At its location overlooking Richmond’s Byrd Park, houses 130 residents who have conditions like quadriplegia and muscular dystrophy. The new campus will serve 160 residents, increasing capacity by more than 20%.

“Since 1894, we’ve had one dream at The Virginia Home — to create a richer life for adult Virginians with irreversible physical disabilities,” Douglas Vaughan Jr., president and CEO of the nonprofit, said in a news release. “Now, our dreams quite literally need a bigger home.”

Located off Interstate 295, the new campus will offer residents outdoor space and could accommodate future expansions, which might include multi-person cottages for residents who are able to live more independently, according to The Virginia Home.

In a news release Friday, Cushman & Wakefield | Thalhimer said The Virginia Home purchased 75 acres on Bell Creek Road near Pole Green Road for $8.65 million from Big Oak Development Co. Shield Land Trust. Jeffrey Cooke handled the sale negotiations on behalf of The Virginia Home.

The new, one-story facility will be 196,000 square feet, an increase over the current 125,000-square-foot building. With construction expected to begin in July, the new facility could open to residents in the fall of 2027, according to a spokesperson for The Virginia Home.

All rooms at the new facility will feature outdoor views and natural light. They will be larger than rooms at the current facility (an increase from 164 square feet to 250 square feet). The facility will also offer smaller bathroom configurations with more individual storage, a change from the current congregate facilities. Residents will not need to navigate elevators or stairs.

“The new campus will not only allow us to welcome more individuals and families into our community, but it will also feature beautiful, modern design and technology that supports greater independence, dignity and comfort for everyone we serve,” Vaughan said in a statement.

Additionally, the new campus will allow The Virginia Home to launch a day program that will serve 55 to 60 participants, individuals who are on a waiting list for a residential opening or who do not require full-time care.

White House decisions weigh heavily on Va., Hampton Roads economies, experts say

While federal workers ponder taking a buyout offer from President Donald and a now-rescinded federal funding freeze memo caused confusion and worry over the status of major projects in Virginia, economists at say uncertainty in Washington, D.C., is the major factor affecting the state’s and ‘ economic futures right now.

“In the best-case scenario, not much changes in terms of trade, immigration, tax and spending in 2025, and the United States and Virginia economies continue to experience real gross domestic product growth around 2.5%,” said Bob McNab, director of ‘s Dragas Center for Economic Analysis and Policy, which released its annual economic for the state and the Hampton Roads region Wednesday. “In the worst-case scenario, higher tariffs coupled with immigration actions accelerate inflation, and the national and commonwealth economies could plunge us into recession in the latter half of 2025.”

Speaking about the Hampton Roads region’s economy, Dragas Center Deputy Director Vinod Agarwal said he expects defense spending to grow during the , a boon for Hampton Roads, where it accounts for 40% of all economic activity. However, higher tariffs and fewer federal workers could hurt the region’s economy, Agarwal said.

“As of yesterday, there are incentives in place to entice federal workers to retire. The question is, how effective is it going to be? What effect it will have, especially in the commonwealth?” he said, referring to Trump’s announcement this week to offer buyouts of eight months’ salary to all federal employees who opt to leave their jobs by next week. However, some attorneys and federal employee unions, as well as U.S. Sen. Tim , are urging federal workers not to resign. 

Meanwhile, a memo sent Monday by the acting director of the federal Office of Management and Budget that would have frozen more than $3 trillion in led to widespread confusion among government agencies, businesses, nonprofits and citizens, as well as a flurry of lawsuits, a temporary court injunction and, ultimately, the Trump administration’s rescission of an executive order. Among other impacts, the freeze raised questions about what could happen to major economic development projects in Virginia that were awarded federal dollars under the Biden administration.

Trump’s actions of the past week aside, McNab said overall that the state’s outlook is positive. Job growth continued statewide in 2024, and job openings signal strong demand for labor this year. Continued job and income growth this year will likely make consumers feel more positively about the economy, although sentiment is lower than in 2019, McNab said.

He expects that the state’s GDP will increase by more than 2.5% in 2025, as long as federal spending increases in the commonwealth and if there are no “significant disruptions due to shifts in immigration, trade or fiscal policy,” and if the H5N1 bird flu continues to not pose a threat to public health.

However, if Trump pushes forward with threatened 10% or 25% tariff increases against China, Mexico and Canada — inviting retaliatory tariffs from those countries — McNab anticipates inflation will grow above 4% this year. Also, the narrowly Republican-controlled Congress may not be able to extend the debt ceiling and fully appropriate the fiscal 2025 budget. Previous standoffs, he notes, have “increased bond yields, lowered the U.S. credit rating and led to declines in equity markets.”

Another factor, McNab said, is that bond markets are anticipating higher inflation as a result of federal spending changes and tax policy, in addition to uncertainty over tariffs. Bird flu, and whether it becomes a major outbreak, is a “wild card” factor, he added.

Agarwal said that for Hampton Roads, existing home sales have decreased by 36% since 2021, and while he expects sales to stabilize this year, median prices are expected to continue increasing. Prices rose from $255,000 in 2020 to $336,000 in 2024, he reported. Also, “size and type of reduction in the federal workforce and increases in tariffs … will remain to be a major concern for the health and growth of the regional economy.”

In sum, said McNab, “any forecast would require heroic assumptions on what policies come into play in 2025.” 

Altria Group names new board member connected to Hasbro

Hasbro board chair and the toymaker’s former interim CEO Richard S. Stoddart will join the Monday, the -based, Fortune 500 tobacco manufacturer announced Thursday.

Stoddart will serve as a member of the board’s nominating, corporate governance and social responsibility committee, as well as on the audit and innovation committees.

Also Thursday, Altria reported its full-year results for 2024. was $24 billion, a 1.9% decrease from the previous year. The company attributed the drop to lower revenues in the smokeable products segment, but noted that higher revenues in oral tobacco products segment helped to offset the loss.

In 2024, Altria, which has about 6,400 employees, completed a $3.4 billion share repurchase program, repurchasing 73.5 million shares. The company’s board has authorized a new $1 billion share repurchase program that it expects to complete by the end of 2025.

Among Altria’s operating companies are USA, , and .

A graduate of Dartmouth College, Stoddart was president and CEO of InnerWorkings, a Chicago marketing firm, from 2018 until 2020 when the company was acquired by HH Global, the British marketing provider. Previously, Stoddart ran Leo Burnett North America, the Chicago-based advertising agency, for 11 years as CEO and president, and became CEO and global president of Leo Burnett Worldwide in 2016.

Stoddart joined the board of toymaker Hasbro in 2014. Following the 2021 death of the company’s longtime leader Brian Goldner, Stoddart served as interim CEO for several months and then stepped into the role of board chair in 2022.

Herndon contractor to acquire NG division for $327M

Herndon tech and management contractor has agreed to acquire ‘s mission training and ground network communications software business (MT&S) for approximately $327 million.

Inc., a wholly owned subsidiary of United Kingdom-based Serco Group, announced the deal Wednesday, which is expected to close in mid-2025.

MT&S provides the U.S. military with advanced mission training services, as well as software that makes satellite ground networks more efficient. It supports programs for the Army, Space Force, Air Force, Navy, Combatant Commands and international partners.

“This is an important next step in our strategic journey and underscores Serco’s dedication to growth and innovation in mission-critical solutions,” Serco Inc. CEO Tom Watson said in a statement. “The integration of this enhanced portfolio of work will expand our footprint within the defense market.”

The MT&S business’s portfolio of U.S. defense service contracts yields approximately $300 million in annual revenues. Serco expects the acquisition to grow its North America business to more than $2 billion in .

The nearly 1,000 employees of Northrop Grumman’s MT&S business will join Serco, bringing expertise in digital engineering, software development, satellite ground communications software and mission simulation.

MT&S provides simulation-based training and mission rehearsal capabilities through live, virtual and constructive immersive environments. It owns and develops the Distributed Mission Operations Network, which allows aircrews in different locations to train together in a virtual environment.

The business also gives Serco space operations and services capabilities.

“We have approximately doubled revenue and more than trebled profit in Serco’s North America business in recent years through a successful combination of organic growth and strategic acquisitions. MT&S provides an excellent opportunity to continue that success,” Serco Group CEO Mark Irwin said in a statement.

Serco reported 1.36 billion pounds — equivalent to approximately $1.7 billion as of Thursday — in 2023 revenue for North America. Its parent company, Serco Group, reported 4.87 billion pounds — about $6 billion — in 2023 revenue. Serco Group has more than 50,000 employees in more than 20 countries, about 9,000 of whom are employed in the Americas.

Kaine, Warner respond to Trump White House rescinding spending freeze memo

The budget office on Wednesday rescinded a controversial memo issued Monday that froze spending on more than $3 trillion in federal financial assistance, including grants and loans backing economic development and infrastructure projects across the nation.

In the two-sentence memo issued Wednesday, Matthew J. Vaeth, acting director of the Office of  Management and Budget, wrote: “OMB Memorandum M-25-13 is rescinded. If you have questions about implementing the President’s Executive Orders, please contact your agency General Counsel. ”

U.S. Sens. Tim and Mark , both Democrats, quickly responded. In a message posted to X around 2:21 p.m., Kaine called the Office of Management and Budget’s rescission  “good news.”

“We pushed hard for a day,” Kaine said in a video that he noted was filmed shortly after 1 p.m. “They’re backing up, but this ain’t over. We’re going to have to keep battling, and I’ve got your back.”

By 1:40 p.m., Karoline Leavitt, the new White House press secretary, posted on X that the memo was not a rescission of the . “It is simply a rescission of the OMB memo,” she stated.

The point, she added, is to end confusion created by a federal judge who on Tuesday temporarily blocked ‘s freeze on federal spending until at least Feb. 3.

The president’s executive orders on federal “remain in full force and effect, and will be rigorously implemented,” Leavitt wrote.

During a media call at 2:15 p.m., Warner didn’t mince words describing how he thinks the first days of the new presidential administration are going.

“He’s introduced chaos at a level that even makes the first term look organized,” he said.

Warner’s staff has heard concerns about the freeze, he said, from leaders in Virginia’s local governments, contractors who work for the state and nonprofit leaders.

“The idea that you’re going to freeze funding for 90 days means a lot of these operations have to fire a lot of folks,” Warner said.

The senator also appeared to call out leaders who’ve been quiet about the freeze.

“I just wish some of my Republican friends at the state level, the federal level, everywhere, would step up and say, ‘This doesn’t affect just red states or blue states. It affects the whole United States, and this will have draconian effects on people’s lives,’” Warner said.

A call to Virginia Gov. Glenn Youngkin’s office was not immediately returned Wednesday.

On Tuesday, U.S. Rep. Morgan Griffith, R-Salem, issued a statement about the pause of federal financial assistance.

“This temporary pause is meant to give agencies time to identify and review these programs and ensure compliance with law,” Griffith stated. “This is a prudent review by the new to be careful stewards of taxpayer .”

Trump’s freeze prompted questions about what happens to huge pending economic development projects in Virginia from Microporous, Micron Technologies and LS GreenLink, all of which were awarded hundreds of millions of federal dollars for projects expected to employ thousands of workers.

Virginia’s U.S. senators released a statement Tuesday eviscerating the freeze.

“In every corner of Virginia alone, there are enormous, game-changing economic developments projects happening right now that depend on federal spending appropriated by Congress. Whether it’s Helene recovery in Southwest [Virginia], … semiconductor manufacturing in Northern Virginia… pharmaceutical jobs in Richmond… renewable energy in coastal Virginia… or the expansion in Southside – every one of these projects is in part the result of federal funding from laws we fought tooth and nail to pass in Congress, and could now be endangered thanks to President Trump’s mess.”

Fairfax casino bill moves forward in Va. Senate

A bill that could bring a to won a vote in the Senate Committee on Tuesday, pushing it forward to a full Senate vote later in the Virginia session.

If passed by the state legislature and signed by Gov. Glenn Youngkin, voters would have the opportunity to vote on a casino referendum on this fall’s ballot.

Sen. Scott Surovell, SB 982’s chief sponsor, released a statement: “I am pleased my colleagues voted to advance Senate Bill 982 out of the Senate Finance Committee, where it died in the 2024 Regular Session. Positive action reflects that many of the concerns that have been raised about the project were in fact addressed by the Joint Legislative Audit and Review Commission (JLARC) report on casino in the commonwealth, and that this project presents a huge opportunity to fund school construction in the commonwealth.

“The majority of the Fairfax County delegation to the General Assembly supports giving Fairfax
County’s locality government the authority to let voters decide if they support an entertainment district in the County. The critics of the project have identified no alternative means to maintain our high quality public schools while closing a $300 million recurring gap in the Fairfax County budget other than to keep raising real estate taxes on Fairfax County’s homeowners, renters and small businesses.

“Virginia residents are already sending billions of dollars per decade to Maryland in the Northern Virginia region by patronizing the MGM National Harbor Casino just over the Maryland state line. It is time to bring that back to benefit our state and Fairfax County while building a world-class performing arts venue, a convention center, and creating thousands of union jobs so everyone who works in the county can live in the county. This bill will allow the voters of Fairfax County to decide whether or not the project should move forward.”

However, there are many opponents to the project, including a group of former federal defense and intelligence officers who say the proximity of a Tysons casino to the CIA headquarters and the nation’s hub of government contractors with top-secret clearances could pose a national security risk. The group known as National Security Leaders for Fairfax sent a letter expressing concerns to Fairfax County and state officials earlier this month, The Washington Post reported.

Under current state law, only five cities in Virginia are allowed to host one casino each: Bristol, Danville, Norfolk, Petersburg and Portsmouth. Voters in each city have passed casino referendums on their ballots, and three are now open in Bristol, Danville and Portsmouth, while Norfolk’s resort is under construction.

Last year, Sen. Dave Marsden, D-Fairfax, sponsored a bill that would add Fairfax County to the list of localities that could host a casino, and the original proposed location was in Reston — a plan backed by developer Comstock Cos., which is developing Reston Station near the Dulles Toll Road. But plans changed to adjust the location near the Spring Hill Metro station in Tysons after senators received pushback from community members. Ultimately, the bill failed in a Senate Finance Committee vote.

The 9-6 Finance Committee vote Tuesday was bipartisan, and Surovell’s bill will next be scheduled for a vote by the full Senate.