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In This Issue... Entrepreneurial Dominion, Expansions, Relocations & Launches, Who's Hot,Who's Winning Business, Deal Makers, Innovations, R&D / Intellectual Property, People, Trends, Other News,Commentary,Events, Click here to forward to a friend or colleague who might like this newsletter. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Entrepreneurial Dominion | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 When Playstation Loses its Luster, There's always... Sillyasstoys.comRICHMOND-Sillyasstoys.com, the brainchild of Dave's Comics founder Dave Luebke, has launched its online toy store for "extraordinary" toys. Products range from the educational and creative -- log building sets, word games, optical illusions -- to the weird and gross, such as nose flutes and toy cockroaches. Says Luebke: "We feature more of the fun and cool stuff that you can't find at Toys 'R' Us or Wal-Mart. We're trying to break the kids away from the computer monitor and remind parents of toys they enjoyed as kids." Each toy on the Sillyasstoys.com site is extensively play tested through demonstrations in the Richmond store. Top sellers include Giant Microbe plush toys; Airzooka, which sends out giant blasts of air; and the Bender Family of bendable figurines. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Expansions, Relocations & Launches | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Narricot Expands in Southampton, Mecklenburg SOUTH HILL--Narricot Industries, LP, a manufacturer of side-impact airbags and polyester and nylon webbing products for the automotive and defense industries, will invest $20 million to expand its Southampton County facility and ramp up production at its Mecklenburg County facility. The net result, after the transfer of positions between facilities, will be the creation of 138 new jobs over the next two years. Narricot is a subsidiary of the German Berger Group. More. ZyLAB Expands to New North American H.Q. MCLEAN--ZyLAB, a developer of content-management and compliance solutions for paper-intensive organizations, has opened its new North American headquarters. Following 1,000 percent sales growth inthe U.S. over the past two years, the company is building its sales, engineering and customer-support capabilities. ZyLAB will build on its federal government customer base to sell its its solutions to small- and medium-sized, publicly traded companies that must adhere to Securities Exchange Commission compliance regulations. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Hot... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partners: |
Cloakware Secures $10 Million in Series B Funding VIENNA--Cloakware Inc., a developer of solutions for protecting software and systems from unauthorized access and piracy, has raised $10 million in a Series B round of financing. The company plans to use the capital infusion to build its infrastructure, expand overseas, continue developing its Digital Rights Management products, and establish market leadership in enterprise application-level security. More. Port Bonds Win AA+ Rating NORFOLK--Fitch Ratings has assigned an 'AA+' rating to $60.0 million in Virginia Port Authority commonwealth port fund revenue bonds, series 2005. The bonds, secured by and payable from revenues of the commonwealth port fund, will finance improvements to the authority's Norfolk terminals, purchase land, improve and move three container cranes, and improve the city's cruise ship terminal. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Virginia FREE
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If the IRS Gives You Bum Advice, You Have Someone New to Blame ARLINGTON--Plateau Systems, a developer of enterprise software that manages learning and knowledge readiness, has deployed its system across the Internal Revenue Service. Says CEO Paul Sparta: "Our solution is allowing IRS employees to view their training progress, request training electronically and launch Web-based training from a single platform. The project stands as an excellent example of what a large government agency can accomplish through dedication and leadership in implementing technology to drive performance." More. MYMIC Wins Future Combat System Contract PORTSMOUTH-MYMIC LLC, a developer of advanced computer simulations, has been awarded a contract by Dynamics Research Corporation, of Andover, Mass., to assist in defining soldier tasks to support the U.S. Army's Future Combat System. The work will be accomplished at Fort Lee. A networked "system of systems", the future combat system utilizes advanced communications and technologies to link soldiers with both manned and robotic, unmanned ground and air platforms and sensors. MYMIC will help develop the operating doctrine for logistics support units. In Brief... FAIRFAX--Anteon International Corporation has won a five-year contract potentially worth $117 million to support the U.S. Medical Communications for Combat Casualty Care Program Office. MC4 seamlessly links all echelons of deployable medical care within the Army. More. SPRINGFIELD--VERSAR, Inc., is part of a team led by Teledyne Technologies Incorporated, that has been awarded a five-year contract potentially worth $100 million to provide engineering services to the U.S. Army Edgewood Chemical/Biological Center. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Deal Makers | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Datatel Bought Out by Executive Team FAIRFAX---The executive team of Datatel, Inc., an enterprise solutions provider to higher education, has agreed to acquire the $95 million-a-year company from its founders Ken Kendrick and Tom Davidson. Said CEO Russ Griffith: "With Datatel's consistent financial performance, reputation, and loyal customer base, the company is well positioned for continued growth. The resources and expertise of Thoma Cressey Equity Partners and Trident Capital will better enable Datatel to strengthen its position as a market leader." More. Analex to Acquire ComGlobal Systems ALEXANDRIA--Analex Corporation, a provider of professional services to federal government clients, has signed a non-binding letter of intent to acquire ComGlobal Systems, Incorporated, for $47 million in cash. The San Diego software engineering and IT firm, which generated $39.5 million last year, also serves federal clients. More. Signia Sold to FIND/SVP ARLINGTON-Signia Partners, a provider of in-depth business research, has been acquired by New York-based FIND/SVP, Inc. Focusing on the financial services, health care and consumer sectors, Signia generated $4.4 million in revenues in 2004. Said David Walke, CEO of FIND/SVP: "Signia further[s] our penetration into markets of demonstrated demand among our existing and prospective client base, and greatly enhance[s] our long-stated commitment to create a leading, single-source provider of business intelligence and research." More. Hey, Meester, You Want to Buy Some MegaHertz? RESTON--NII Holdings, Inc., a wireless company active in the Latin American market, has licensed 800MHz bandwidth in Mexico serving a market of 43 million potential customers for $4 million. Combined with other licenses, NII can potentially reach 97 million Mexican customers. Phase one of NII's 2005 expansion plan in Mexico includes the launch of six new cities including Juarez, Reynosa, Matamoros, Saltillo, Torreon and Aguascalientes. More. Monticello Helps Small Biz Go Postal MINERAL-Monticello Software, Inc., a pioneer in the Mail.dat field, has joined GrayHair Software, Inc., of Mount Laurel, N.J., in a workflow partnership that will enable small- and medium-volume mailers to take advantage of the U.S. Postal Service PostalOne! online acceptance, verification and postage payment systems. Said Monticello President Joe Bailey: "Mail owners ... will see immediate benefits from seamless communication with list houses, services bureaus, mail production facilities and transportation agents." More. Apdex Alliance Adds Two New Companies CHARLOTTESVILLE--The Application Performance Index Alliance has added two new companies, bringing the total number to 11. The alliance, founded by NewForecast President Peter Sevick, was formed as an open movement to ensure that Apdex, an index that measures user satisfaction with the performance of enterprise applications, provides high value to the largest possible audience. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Innovations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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HazMat Unveils Chemical ID System ALEXANDRIA--HazMat Systems, Inc., a developer of security products for the chemical and transportation industries, has launched the Chemical Acoustic Signature System (CASS), a system that identifies and measures the chemical contents of sealed containers without opening them. CASS uses ultrasonic pulses to measure the acoustic signature of a liquid. Powered by rechargeable batteries, the hair drier-sized device attaches to a Pocket PC handheld computer that contains a database of chemicals. HazMat has sold than 100 units to federal agencies and the United Nations. More. SI International Develops Port Security Solution RESTON--SI International, Inc., an IT and network solutions company, has unveiled an electronic document system for the U.S Coast Guard that makes it easier for vessels to electronically submit Notice of Arrival/Departure information. Previously, ships and their agents notified Marine Safety Offices/Captains of the Port of their arrival 96 hours in advance, which posed a difficulty for ships that lacked reliable Internet connectivity at sea. SI International's solution enables the operators to enter the data while offline, and submit it later when Internet connectivity becomes available. More. Angel.com Sells Telephony Solution to Leading Brands MCLEAN--Angel.com, a division of MicroStrategy Incorporated that provides web-based telephony solutions, has sold its speech-recognition solution to several international brands, including CARQUEST, Hobie Cat Co., and Husqvarna. Angel.com deploys new Voice Sites, accessible through toll-free numbers, that provide callers with automated store location and product information based on zip code and/or product preference. More. Cingular Moves Downstate RICHMOND--Cingular Wireless LLC has expanded its service area to downstate Virginia, including the Hampton Roads, Richmond and Roanoke metro regions. Having acquired the Virginia customers of AT&T Wireless, Cingular said that it would offer "compelling rate plans, expanded wireless coverage and the latest in cutting-edge wireless devices." More. XO Launches Business Package for Very Small Businesses RESTON--XO Communications, Inc. has unveiled JustCom, a new brand of telecommunications services designed for very small businesses. For $160 per month, the service provides four business lines, unlimited domestic calling, a toll-free number and a host of other features like call forwarding, call waiting and caller ID name. More. MCI Expands Wi-Fi Coverage ASHBURN--MCI, Inc. will nearly double its Wireless Internet Access footprint by expanding hotspot coverage in the U.S., Europe and Asia-Pacific. The company also is adding new hotspot venues, including coffee shops, major bookstores and retail shipping, postal and business service centers. MCI wireless users can stay connected to their corporate networks without worrying about incurring long-distance or international calling fees or finding a place to connect a PC. More. Red Cliff Releases ''Web Historian'' Forensic Tool ALEXANDRIA--Red Cliff, an information security consulting firm, has launched its first forensic tool, Web Historian. The software reviews website URLs stored in the history files of the most commonly used browsers. It is designed primarily as a tool for computer forensic examiners. More. In Brief... CHARLOTTESVILLE--Unbound Medicine, a developer of knowledge management solutions for healthcare, is providing access to the Merck & Co., Inc., MerckMedicus Internet site via wireless PDA, Blackberry or smartphone. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Virginia to Launch "Big Science" Optical Network CHARLOTTESVILLE -Gov. Mark R. Warner has announced the creation of VORTEX, a broadband optical fiber network that will connect Virginia universities to national and international research networks. A creation of the Mid-Atlantic Terascale Partnership, a regional consortium that includes Virginia's six doctoral universities, VORTEX will enable scientists to participate in "big science" projects by providing "lambda level" access to 10 Gbps channels. Completion of the project is scheduled for June 2005. More. VCU to Study Battlefield Shock RICHMOND-The Virginia Commonwealth University Reanimation Engineering Shock Center (VCURES) has been awarded $3.2 million in federal grants for two shock-related studies, one with battlefield implications and the other for emergency medicine. VCURES aims to design a way for soldiers injured in combat to survive devastating blood loss when medical facilities are far away. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | People | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hey, You, Great Timing! MCCLEAN--Harry You, CFO of software giant Oracle Corporation, has resigned his position to become CEO of BearingPoint, a 16,000-person consultancy and outsourcing firm. Said You: "Our first order of business will be to reestablish financial credibility and consistency with an unswerving commitment to transparency in disclosure and rigorous financial processes." More. The same day, Bearingpoint informed the Securities Exchange Commission that it would miss the deadline for filing its 10-K annual report. The company attributed the gaffe to the need to validate financial information after the installment of a new financial accounting system. ... These guys are doing IT consulting for other people? More. In Brief... RICHMOND-After six years as executive director for the Virginia Economic Development Partnership, Mark R. Kilduff will retire in June at the conclusion of his four-year contract. More. VIENNA--Telarix, Inc., a developer of cost-management software for telecommunications carriers, has appointed Jeffrey Simpson as CFO. More. RICHMOND-Virtus Marketing, LLC, a developer of business-to-business marketing solutions, has added three senior positions to its business development team. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Trends | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Chmura Economics & Analytics |
 Employment in Virginia increased 2.8 percent for the 12 months ending with January 2004, compared with a 1.7 percent gain in U.S. employment. With the exception of Danville (-1.5 percent), all of the state's metropolitan areas showed positive job growth over the past year. The strongest growth occurred in Northern Virginia (+5.7 percent), Charlottesville (+3.5 percent), Winchester (+3.1 percent) and Harrisonburg (+3.1 percent). The monthly periodicity of employment data makes it the most timely and encompassing measure of regional economic growth. Additionally, the latest data lend key insights into three new metro areas in the state: Blacksburg, Harrisonburg, and Winchester. To find out about these new metro areas, as well as a list of Chmura Economics & Analytics (CEA) products and services,click here, or call (804) 649-1107. Growth Driving Rail Industry NORFOLK--The North American transportation market is shifting to rail, declared Norfolk Southern CEO David Goode in his letter to shareholders in the 2004 annual report. New global trading patterns and constraints in highway transportation are creating unprecedented opportunities for the railroad to serve customers. Said Goode: "Improving productivity and efficiency spelled good results in the bottom line." More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Other News | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
National Geographic Rolls out "Guide to Appalachia" WASHINGTON-National Geographic has unveiled its "Guide to Appalachia", a full-color, fold-out map featuring than 350 of Appalachia's top cultural tourism destinations. Southwest Virginia boasts 33 of the map's listings that include music, historical, cultural, and outdoor recreation sites, from Barr's Fiddle Shop in Galax to the Wolf Creek Indian Village in Bastian. The Appalachian Regional Commission has funded several development projects, including the Ralph Stanely Museum, the Carter Family Fold and the beginnings of a Southwest Virginia artisans network. Said Secretary of Commerce and Trade Michael J. Schewel: "Our administration is working to attract cultural tourists to Virginia because studies show they stay longer and spend more. We have invested ARC funds to develop Virginia's Appalachian assets to harness the economic potential of cultural tourism and bring more visitors to the region." More. Sentara Docs Adopt Hand-held Wireless Device NORFOLK-Sentara Healthcare, the dominant health care system in Hampton Roads, has adopted the Pocket Sunrise hand-held wireless device to provide its physicians with secure access to real-time patient information. Clinicians on rounds or outside the hospital can stay connected to patient information at all times, viewing test and lab results, medications administered and other key data. Currently, 94 physicians are using the device at two of Sentara's community hospitals. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Commentary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Land Speculators 2, Citizens 0 Property rights zealots are cackling over the overturn of Growth Management initiatives in Portland, Ore., and Loudoun County, Va. Land speculators profit, and the public loses again. More. | Look at their Shoes A self-absorbed Virginia cannot win in the global, innovative economy. Take a look at what other states--and countries--are doing. One old joke still echoing in the tech economy is that an extroverted geek is one who, in the course of his conversation with you, stares at your shoes, not his own. Therein may be a lesson for Virginia's political leaders and economic development officials as one considers a slew of investment announcements from state capitols other than Richmond. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Events | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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