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| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||
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In This Issue... Expansions, Relocations & Launches, Who's Hot, Who's Not, Who's Winning Business, Deals & Partnerships, Innovations, R&D / Intellectual Property, People, Trends, Commentary, Events, Click here to forward to a friend or colleague who might like this newsletter. | ||||||||||||||||||||||||
| Back To Top | Expansions, Relocations & Launches  | |||||||||||||||||||||||||
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VCU Building $192 Million Critical Care Hospital RICHMOND-Virginia Commonwealth University has commenced construction of a 15-level, $192 million Critical Care Hospital, scheduled for completion in the fall of 2008. The 367,000 square-foot building will feature expanded intensive care units for surgical trauma, neonatal, cardiac, neuroscience, medical respiratory, oncology and burn patients. Said Sheldon Retchin, CEO of the VCU Health System: "This facility will be unlike anything yet seen in the commonwealth. The new hospital will be equipped with novel technologies and is being designed to respond to the critical care needs of the region." More. Specialty Blades Expands in Staunton, Sets up Sales Office in China STAUNTON--Specialty Blades, Inc., a manufacturer of precision cutting and piercing components, will invest $6 million to expand its facility in Staunton with a 28,000-square-foot addition. The project, which will create 25 new jobs, will add new precision grinding equipment, point technologies, and YAG-based laser equipment. The company also has established a sales office in Shanghai, China. Said CEO Peter Harris: "The markets we serve are expanding in both size and complexity, leading our business through a period of transformational growth." More. VIPER Building Race Car Testing Center SOUTH BOSTON--The Virginia Institute for Performance Engineering and Research (VIPER) has broken ground on its research and testing facility located at Virginia International Raceway. VIPER is a resource to the racing and automotive industries, providing a sophisticated testing environment and world-class research capabilities in the field of vehicle dynamics. Thanks to its partnerships with Virginia Tech, Old Dominion University and others, said Secretary of Commerce and Trade Michael Schewel: "VIPER will help bring research dollars and research contracts to Southside." More. Fincantieri to Upgrade U.S. Presence CHESAPEAKE--Italian shipbuilding powerhouse Fincantieri has formed a new company, Fincantieri Marine Systems North America, Inc., in a bid for more United States Defense Department Business. Fincantieri, based in Trieste, Italy, builds cruise ships and cruise ferries. Its existing U.S. subsidiary, Isotta Fraschini, supports non-magnetic diesel engines for the U.S. Navy's mine warfare fleet. Said CEO Upinder Kamal: "We bring experience and expertise in marrying propulsion and machinery systems to a ship's hull form and can offer the highest quality, 'best value' to our clients. Fincantieri Marine Systems North America, Inc. is poised to become the true maritime machinery integrator of choice." More. Bacon & Eggheads publishes websites, blogs and electronic newsletters.  The Art of Digital Communications. Blogs, websites, electronic newsletters, Internet clipping services... The digital world is racing ahead so quickly it's hard to keep up. Bacon & Eggheads can help you integrate these amazing tools -- and provide the content to make it compelling. More. View the lead stories from our latest newsletters here. | ||||||||||||||||||||||||
| Back To Top | Who's Hot... | |||||||||||||||||||||||||
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In Brief... SOUTH HILL--Citizens Community Bank has completed its public offering of common stock, selling 517,000 shares at $14 per share, for total gross proceeds of $7.2 million. More. | ||||||||||||||||||||||||
| Back To Top | Who's Not... | |||||||||||||||||||||||||
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IPIX to Restructure, Lay off 15 RESTON--IPIX Corporation, a developer of immersive imaging products, is restructuring in a bid to cut costs, starting with the reduction of 15 staff positions. The money-losing company also plans to reduce facility expenses by consolidating all operations into its Reston headquarters. More. | ||||||||||||||||||||||||
| Back To Top | Who's Winning Business... | |||||||||||||||||||||||||
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European Film Distributor Adopts Cinea Anti-Piracy Technology RESTON--Cinea, a subsidiary of Dolby Laboratories with operations in Reston and Richmond, has sold its state-of-the-art film anti-piracy technology to its first European film distributor. UK-based Redbus Film Distribution will use Cinea's S-VIEW solution when it distributes its 2005 awards screeners -- Good Night, and Good Luck and A Cock and Bull Story -- to British Academy of Film and Television Arts members. Discs encrypted by Cinea, if lost or stolen, cannot be viewed on any standard DVD player or computer. More. ManTech Pulls in $125 Million in Federal Contracts FAIRFAX--ManTech International Corporation, a federal contractor, has announced that it had been previously awarded unannounced contracts valued at more than $125 million in October. The contracts, which vary in length and include customers in different federal government agencies, had not been publicized because of the sensitive nature of the work. More. Payerpath Snares MedCost Contract RICHMOND--Payerpath Inc., a provider of Internet-based financial transaction solutions for healthcare providers, has been selected by MedCost, a leading independent managed care provider in the Carolinas, to provide transaction processing services. Said MedCost executive Wanda Owen: "The healthcare industry is moving away from paper-based transactions and toward EDI transactions. Partnering with Payerpath enables us to quickly and cost effectively bring a solution to market that has a proven track record for driving provider adoption of these transactions." More. In Brief... BLACKSBURG-Virginia Tech has selected New City Media, also of Blacksburg, to redesign the university's website. | |||||||||||||||||||||||||
| Back To Top | Deals & Partnerships | |||||||||||||||||||||||||
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Sprint Nextel to Acquire Alamosa Holdings RESTON--Sprint Nextel Corp. has agreed to purchase Alamosa Holdings, a provider of Sprint PCS services in 19 states, for approximately $4.3 billion, including the assumption of $900 million of net debt. Said CEO Gary Forsee: "This acquisition closes a long partnership with the management and shareholders of Alamosa. This transaction will significantly expand our direct customer base and territory, and will provide additional value for our shareholders." More. Brink's to Sell Bax Unit for $1.1 Billion RICHMOND-The Brink's Company has agreed to sell its BAX Global operating unit to Deutsche Bahn AG for $1.1 billion, netting about $0.9 billion after taxes and expenses. Divesting the supply chain-management business, which is based in Irvine, Calif., will allow Brink's to strengthen its finances and focus on security-related services, stated CEO Michael Dan. The company will use "at least $200 million" of the proceeds to fund legacy retiree medical costs, another $400 million to $600 million to repurchase shares, and the rest to reduce debt levels and support the future growth of the Brink's Company. More. Allied Defense Acquires Developer of Miniature Transmitters VIENNA--The Allied Defense Group, a diversified defense and security firm, has acquired Global Microwave Systems, of Carlsbad, Calif., in a cash and stock transaction. GMS designs and manufactures miniature and sub-miniature FM and digital transmitters, receivers, and related equipment that are widely used in organized crime, narcotics, and anti-terrorism investigations and counter-insurgency operations. Because of their sub-miniature size, low power requirements, high fidelity, and long ranges, they have proven ideal for incorporation into the sensor suites of unmanned vehicles. More. Richmond Lab Sold to Kroll RICHMOND-Scientific Testing Laboratories (STL) has agreed to a purchase by New Orleans-based Kroll Laboratory Specialists, Inc. STL, which conducts alcohol and drug testing for corporations nationally, with a particularly strong market share in the criminal justice system. Founded in 1992 by Thomas McGlynn, the company employs 60 staff in Richmond. Said Kroll President John Peterson: "STL is an extremely well-run operation with a top-notch staff. We are pleased that its laboratory director, top sales people, and other key managers will continue in their current roles." More. LAS Partners with Semagix to Crack Down on Money Launderers HERNDON--Language Analysis Systems, Inc., a developer of name-recognition technology, has partnered with White Plains, N.Y.-based Semagix Inc. to help bank clients track suspected money launderers and terrorists. Semagix provides a "screening and targeting" engine that enables people or "things" to be risk scored and prioritized based on information gathered from open and closed sources. LAS technology will ensure that Semagix can search for cultural information about names, such as what country the name is most typically found and variant spellings of those names. Citibank is using the Semagix/LAS offering to identify possible name variants. More. In Brief... WYTHEVILLE-Waste Industries USA, Inc., of Raleigh, N.C., has acquired the southwest Virginia operations of Lusk Disposal, which provides commercial and industrial services in several southwestern counties of Virginia, and will fold them into its existing Wytheville operation. More. ARLINGTON--Plateau Systems, a provider of software for managing organizational skills and talent, has signed a partnership agreement with Allos, based in Milan, Italy, a major service provider of learning and workforce performance management in Europe, the Middle East and Africa. More. ARLINGTON--BridgeStreet Worldwide, a provider of corporate housing, has expanded into the Seattle and San Francisco markets through its Global Partner program. More. CHARLOTTESVILLE-Scholar One, Inc., a provider of work flow and management solutions for scholarly publishers, and California-based Atypon, an e-publishing technology provider, are collaborating to provide clients "Web first" and rapid publication capabilities. MCLEAN--immixGroups, Inc., a government business consulting and channel management company, will work with PC manufacturer Lenovo to facilitate sales of ThinkPad notebooks and ThinkCentre desktops to government organizations. More. | |||||||||||||||||||||||||
| Back To Top | Innovations | |||||||||||||||||||||||||
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AOL Launches Photo Sharing Website DULLES-AOL has re-launched its photo-sharing website as AOL Pictures, providing clients unlimited online digital photo storage in original resolution, tools that make it easier to create photo albums, and other features. Formerly known as You've Got Pictures, the website has more than six million monthly visitors and stores nearly 300 million photos. More. Spectra Shield to Be Used as Helicopter Armor HOPEWELL-Honeywell's Spectra Shield composite material is being adapted for use as armor for 164 U.S. Marine Corps Sea Knight helicopters. ArmorWorks, a provider of armor technology for U.S. military applications and companies worldwide, is using the material in Light Weight Armor Replacement System kits for the helicopters, which are used by the Marine Corps to provide all-weather, day-or-night assault transport of combat troops, supplies and equipment. Spectra Shield, made of a high-strength polymer embedded in a resin, is 10 times stronger than steel and light enough to float. More. Now It's Golf 24/7 CHANTILLY--Golf Marketing International, Inc., is developing and launching "GolfCenter.TV," an Internet TV channel featuring live and archived golf content. The channel, currently in its soft launch form at www.GolfCenter.TV, will feature an array of community-based and interactive streamed programming, including content targeted to young golfers, training presentations for men and women, golf industry news and technology features, an extensive library of links to golf video content on the web and even programs highlighting the latest exercise and fitness techniques. More. Grant Thornton Introduces Integration-Management Solutions for Feds ALEXANDRIA--Grant Thornton LLP has unveiled a new suite of program- and integration-management solutions designed to promote cost-effectiveness of large federal information technology programs. The Grant Thornton framework uses a new discipline called integration management to connect the older disciplines of program management, enterprise architecture and performance management. More. Verizon's FiOS TV Comes to Herndon HERNDON-Verizon has introduced its FiOS TV service in Herndon, the second city in the United States to have the service. Verizon expects FiOS TV, delivered over a fiber-to-the-premises network, to go head-to-head with satellite television and local cable franchises for high-definition programming. More. In Brief... RESTON--Software AG, Inc., has upgraded its Composite Application Integrator, a design and runtime environment for combining Web services into rich composite Internet applications, so that it supports Google maps. More. | |||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property | |||||||||||||||||||||||||
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NASA Flight Tests Help Quiet The Skies HAMPTON--Recent flight tests involving NASA's Langley Research Center and private industry partners have demonstrated new technologies that can help silence jet aircraft, both in the passenger cabin and on the ground. The three-week flight test program, called the Quiet Technology Demonstrator 2, confirmed the effectiveness of a number of significant airplane noise reduction concepts. New fan and engine core chevron exhaust configurations achieved as much as a two decibel improvement in community noise. Another technology development, the "seamless" sound-absorbing liner, reduced the fan tones heard in front of the aircraft by up to 15 decibels. More. | |||||||||||||||||||||||||
| Back To Top | People | |||||||||||||||||||||||||
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Moynahan Re-Joins Xybernaut as CFO FAIRFAX--John F. Moynahan, a former CFO at Xybernaut who managed the company's IPO in 1996, has returned to the company to help lead its emergence from bankruptcy. The company, which develops personal and mobile computing technologies, recently negotiated a debtor-in-possession loan of up to $5 million over a one year period, and is seeking to sell its many patents and intellectual properties. Said President Perry L. Nolen, "The addition of John as CFO marks the start of a new era for Xybernaut. It reflects his belief that, under the right management direction and business plan, the company can be restored as a leader in mobile computing and communications." More. | |||||||||||||||||||||||||
| Back To Top | Trends | |||||||||||||||||||||||||
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In Brief... NORFOLK-The board of Norfolk Southern Corporation has authorized the repurchase of up to 50 million shares of its 406 million shares of common stock through the end of 2015. More. MCLEAN-The board of Sunrise Senior Living, Inc., has approved a $50 million program to repurchase shares of its common stock or its 5.25 percent convertible subordinated notes. More. HERNDON-The board of ePlus inc. has authorized a share repurchase plan for a 12-month period of up to three million shares of common stock, subject to a cumulative maximum of $12.5 million. More. GLEN ALLEN-The board of Dynex Capital, Inc., a financial services company, authorized the redemption of up to 25 percent of the company's 5.6 million shares of Series D Preferred Stock, plus the repurchase of up to one million shares of common stock. More. | |||||||||||||||||||||||||
| Back To Top | Other News | |||||||||||||||||||||||||
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Dominion to Spend $500 Million on Pollution Controls RICHMOND-Dominion has announced plans to spend about $500 million between 2008 and 2015 to install additional emissions controls on coal-fired power stations in Virginia. The proposed new environmental controls follow more than $2 billion Dominion has invested or committed to in Virginia clean air improvements since the 1990s. With completion of all of the environmental construction by 2015, Dominion will have reduced its SO2 emissions by an average of more than 80 percent for its Virginia, coal-fired units, nitrogen oxide by 74 percent and mercury by 86 percent, from 2002 levels. More. Richmond Docs Adopt Clinical Software RICHMOND-West End Orthopaedic Clinic, a 31-doctor physicians group serving patients from seven offices, has adopted Allscripts clinical software to provide instant access to complete patient information for consultation, research and test results. Said CEO Jim Perkins: "As President Bush and the federal government have expressed, electronic health records are essential to providing higher quality and more efficient health care. Our surgeons felt that it was imperative to stay ahead of future government mandates." More. In Brief... RICHMOND--Genworth Financial has confirmed its understanding that General Electric Company intends to reduce its ownership of Genworth shares from 27 percent to just below 20 percent by the end of 2005 and to fully divest its ownership by the end of 2006. More. DANVILLE--American National Bank & Trust Company, is implementing a new management structure around banking regions in Danville, Martinsville and Lynchburg. More. INSIDE VIRGINIA, Fall 2005 Featured articles include:
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| Back To Top | Commentary | |||||||||||||||||||||||||
 Just Say "No" Hey, Growth Control Freaks, here's a way to cut down on all that congestion in Northern Virginia -- stop recruiting so many new jobs! Turn off the economic development machine! More. |
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Million Vote Baby Tim Kaine joined an exclusive club on Election Day, reaffirming political lessons that even a child can grasp. Commonwealth voters didn't exactly storm the polling places on November 8. Their judgments about policy and leadership in Virginia involved ballots, not burning cars. But emotions did run high in most places. Try looking the mother of a candidate for delegate in the eye, for example, refusing the literature she offers on behalf of her son and saying "No, I will not vote for him." Try convincing voters that a long-time incumbent and decorated veteran should be turned out of office for conduct unbecoming. More. | ||||||||||||||||||||||||
| Back To Top | Events | |||||||||||||||||||||||||
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