|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
 |
In This Issue... Expansions, Relocations & Launches, Who's Hot, Who's Not, Who's Winning Business, Deals Makers, Innovations, Deals & Partnerships, 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  |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Sponsors: 
Legal Services 
Investment banking |
|
Entrepreneurial Dominion 
ALEXANDRIA--A new pet product gives relief to owners and dogs who hate to go outside in the rain and snow. The Poop Tent is a water-proof tent which can be popped open right before bad weather strikes. This puppy port-a-potty created by Benji Ventures in Alexandria is hailed by veterinarians as a shelter for sick and injured dogs, as well as dogs who simply don't want to get wet! "I didn't intend to become an inventor," claims Nan Siemer, president of Benji Ventures. "I just wanted to stop the accidents in my house on rainy days. Benji first used the Poop Tent when Hurricane Dennis brought us 18 hours of steady rain. Now, rain is not such a bone of contention in our house!" More. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Expansions, Relocations & Launches | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Email Marketing Experts Partners:  The Boomer Project 
Virginia FREE 
National Association of Women Business Owners 
Searchable Business Database 
Virginia Technology Alliance |
|
American Funds to Invest $13.7 Million in Chesapeake CHESAPEAKE--The American Funds Service Company will invest $13.7 million to open a customer service center in Chesapeake, its third in Hampton Roads. The facility will employ 250. American Funds is one of The Capital Group companies that manages investments of individuals and large institutions through mutual funds, separately managed accounts and pooled investment funds. More. Transcore to Invest $1.4 Million in Clifton Forge CLIFTON FORGE-Transcore, of Harrisburg, Pa., will invest $1.4 million top open the statewide customer service and data center for the Smart Tag/E-ZPass electronic toll system. The company, which has won a $45 million contract from the Virginia Department of Transportation to design and operate the facility, plans to hire 60 employees. The Smart Tag has been adopted for use on Virginia toll roads around the state. More. Gilbert-Krupin Expands to Richmond RICHMOND-Gilbert-Krupin, a Beverly Hills-based insurance firm, has opened an office to provide better personal service to more than 1,000 East Coast clients. Clients range from executives and high net worth families to some of the world's most well-known athletes and entertainers. Said Krupin: "We are very excited to reconnect and get back into the Richmond market where my original practice began." More. Vericept Opens Reston Office RESTON--Vericept Corporation, a Denver provider of compliance and content control solutions, has opened an office in Reston in support of its fast-growing Federal business initiatives. Said Senior VP Joe Cortale: "We have experienced significant interest from the federal marketplace for our solutions and the opening of this new office enables further expansion of our growth plans in this sector." 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... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Gateway Financial Raises $30 Million through Stock Sale VIRGINIA BEACH--Gateway Financial Holdings, Inc., a community bank-holding company, has raised $30 million through the sale of two million shares of common stock. The proceeds will be used for general corporate purposes and to support expansion of the company's franchise, including the opening of new bank branches. More. FedBid Raises $2 Million in Venture Funding VIENNA--FedBid, Inc., an online marketplace for public sector acquisition of commercial items, has secured $2 million in venture capital funding. The capital will be used to expand FedBid's presence within the Federal sector. Said CEO Ali Saadat: "As the public sector's demand for process transparency and auditability continues to grow, we see considerable acceleration in the volume of commodity purchases conducted through FedBid by government agencies and prime contractors." More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Not... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
S&P Downgrades Dominion Bonds RICHMOND-Dominion will not issue additional equity despite a decision by Standard & Poor to downgrade its investment grade rating from BBB+ negative outlook to BBB stable outlook. Said President Tom Farrell: "While we have experienced temporary negative effects of hurricanes and rising commodity prices on our financial position, the successful execution of our business plan, including the 2007 reset of the Virginia fuel factor, is expected to deliver cash flow growth resulting in continued strengthening of our credit metrics. … We feel that the business risk profile assigned by S&P to Dominion overstates the true underlying risks inherent in the Company." More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
MCI Wins $500 Million Contract with Dutch Bank ASHBURN--MCI has won a five-year agreement worth approximately $550 million to manage the global data network and firewall platforms of ABN AMRO, an Amsterdam-based bank. The agreement covers wide-area network, local-area network and security services connecting more than 6,000 locations in 25 countries. Said MCI executive Wane Huyard: "The ABN AMRO agreement showcases MCI's industry-leading global network integration capabilities. … We are delivering the best in global network and security management, professional services and managed network migration to global IP." More. Raytheon Snags $25 Million Anti-Proliferation Contract RESTON--Raytheon Technical Services Company LLC has won a contract potentially worth $25 million over five years to help halt the proliferation of scientific knowledge relating to Weapons of Mass Destruction. Working through the Office of Global Health Affairs, Raytheon will encourage biological and chemical weapons scientists in former Soviet countries to develop new civilian-oriented research skills. More. In Brief... FAIRFAX--Anteon International Corporation has won a contract potentially worth $19.8 million over three years to provide engineering, modeling and simulation, and other support to the United States Marine Air Ground Task Force Command and Control Weapons and Sensors Development and Integration Product Director. More. ARLINGTON--CACI International Inc. has won a five-year, $21.6 million prime contract by the U.S. Navy Commander of the Pacific Fleet to continue support for Navy maintenance information systems. More. CHANTILLY--Apptis, Inc., has won a $5 million contract to provide IT support services to the U.S. Customs and Border Patrol. More. MCLEAN--CIBER, Inc., has won a contract to assume IT support to the United States Army's 63rd Regional Support Command. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Deals & Partnerships | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
General Dynamics to Purchase Anteon for $2.2 Billion FAIRFAX--Anteon International Corporation, one of Virginia's leading independent IT service providers to the federal government, has agreed to be acquired by General Dynamics for $55.50 per share in a transaction valued at $2.2 billion. Said Anteon CEO Joseph Kampf: "This transaction provides tremendous value for our shareholders and is in the best interests of our customers and our employees. For almost 10 years, Anteon has seen tremendous growth in the market and now, combined with the integrity, strength and vision of General Dynamics, will be able to provide our employees with even more opportunity for success." Kampf, who owns more than 511,000 shares, should gross more than $28 million from the deal. More. Capital Automotive Sold for $1.7 Billion MCLEAN--Capital Automotive REIT has completed its merger with Flag Fund V LLC and related entities. Shareholders of the automotive real estate REIT will receive $38.75 in cash per share, implying a market capitalization of $1.7 billion. More. JPMorgan to Acquire Collegiate Funding for $663 Million FREDERICKSBURG--JPMorgan Chase Bank, N.A., has agreed to purchase Collegiate Funding Services, Inc., a student loan-servicing company, to create a "comprehensive education finance business." Chase will pay $663 million in cash. In 2004, Chase Education Finance originated $7.9 billion, while Collegiate Funding Services originated $4.4 billion in student loans. Collegiate CEO J. Barry Morrow, whose shares are now worth close to $7.6 million, will become president of the combined business, which will be headquartered in Fredericksburg. More. James Center Sold for $185 Million RICHMOND-CSX Corporation and Faison Enterprises have sold the James Center office development in Richmond, the former site of the CSX headquarters, for $185 million. The railroad company will recognize a gain of $35 million in the 4Q from the sale. More. Network Solutions Acquires MonsterCommerce HERNDON--Network Solutions, a provider of domain-name registrations and Web solutions, has agreed to acquire MonsterCommerce of Belleville, Ill. The transaction will strengthen Network Solutions' product portfolio by adding a robust suite of e-commerce solutions that include online marketing, Web design and search engine optimization services. More. In Brief... FAIRFAX--Washington Real Estate Investment Trust, of Rockville, Md., has paid $24.7 million for a 5.27-acre development site, located along the Dulles Toll Road, that has been approved for 540,000 square feet of office and ancillary retail space. More. RESTON--Sprint Nextel Corp. has agreed to acquire Velocita Wireless of Woodbridge, N.J., a wireless company serving 400,000 business and governmental customers, along with plans to begin use of some of the company's 900 MHz spectrum. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Innovations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
How Do You Say "iPod" in French? FAIRFAX--CyraKnow has launched its Rambler audio phrase books created specifically for iPod-savvy travelers. The company designed the four Rambler audio phrase books in French, German, Italian and Spanish specifically for iPod use with the intent of helping new and seasoned travelers learn the nuances of pronunciation and basic phrases for each language in a short period of time. Said co-founder Jeffrey Consalves: "Rambler enables travelers to pick-up the basic words and phrases of a foreign language quickly so they can navigate their way around a country and communicate with their colleagues. Getting off the beaten path and mixing with the locals just became a whole lot easier." More. Washingtonpost.com Launches Video Podcast Ads ARLINGTON-EarthLink, an Internet Service Provider, has engaged to run a series of 15-second video advertisements on Washingtonpost.com's video podcasts. This is the first time that free, ad-supported video podcasts have been available to the marketplace. In October of 2005, washingtonpost.com became the first major newspaper site to offer video podcasts of news content. More. Tech Vet Devises Auction for Stallion Services BLACKSBURG-A Virginia Tech professor has created an internet-based auction for stallion stud fees to benefit equine reproductive research in the college. The site supports a completely automated bidding process, contains information about equine reproductive research, and links to other relevant sites. Horse owners who wish to donate stallion services, which will probably cost between $500 and $2,000, register information about their horse on the site. Auction participants then engage in an E-Bay-style bidding process. Proceeds will be used to support equine reproduction research. More. Exostar Launches Cross-Enterprise Security Tool HERNDON--Exostar, the secure collaborative business network, has released SecurePass Enterprise Identity Solution to help companies issue and manage digital credentials. Said CEO Bill Angeloni: "Today's business leaders are increasingly dependent on third parties, and large manufacturers can work with literally hundreds of partners and suppliers on a single project. As we continue to see the globalization of the supply network, trust throughout the entire business process becomes a critical element of success." More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Innocoll Files for CollaGUARD Wound Care Product ASHBURN-Innocoll Pharmaceuticals has filed a medical-device application with the Food and Drug Administration for CollaGUARD, an advanced wound care product based on Innocoll's membrane technology. CollaGUARD, a purified type-I native collagen protein, stimulates the natural wound-healing process. Said CEO Michael Myers: "Our membrane technology platform is geared towards mass production and will allow us to compete very effectively in this high-volume market." More. Alliant Test Launches Scramjet from Wallops Island WALLOPS ISLAND--Alliant Techsystems of Minneapolis, Minn., has successfully ground-launched and flown a hypersonic scramjet-powered vehicle from the Wallops Flight Facility - the first-ever freeflight of a scramjet-powered vehicle using conventional liquid hydrocarbon jet fuel. After separating from its booster rocket at more than 60,000 feet, the Scramjet engine ignited and propelled the vehicle at approximately 5,300 feet per second - or Mach 5.5. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | People | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Farrell to Succeed Capps at Dominion RICHMOND,--Thos. E. Capps will retire as CEO of Dominion effective Dec. 31, 2005. He will be succeeded by COO Thomas F. Farrell II the next day. Under Capps' leadership since 1990, Dominion has grown from a regulated electric utility serving most of Virginia and northeastern North Carolina into one of America's largest and most successful integrated energy companies. Market capitalization now exceeds $28 billion, up from under $5 billion when Capps became CEO. More. Schoonover to Succeed McCollough at Circuit City RICHMOND--W. Alan McCollough has announced his decision to retire as CEO and Chairman of Circuit City Inc., early next year. He will be succeeded by Philip J. Schoonover, who joined the company as executive vice president and chief merchandising officer in October 2004, and was named president in February. McCollough directed a management overhaul of the electronics retailer as it struggled to maintain profitability in face of blistering competition by Best Buy. More. The news comes on the heels of strong 3Q financial performance: comparable store sales up 13.1 percent, and total sales up 14.7 percent. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Trends | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Chmura Economics & Analytics |
|
 Virginia unemployment. Initial unemployment claims in the state have dropped over recent months. In November, the six-month moving average for initial claims fell just below 22,000, the lowest level since September 2000. The number of initial applicants for unemployment insurance has fallen from a year ago. For the year ending with November 2005, initial claims decreased by 12.0 percent (six-month average). For details on labor market conditions across Virginia, as well as a list of Chmura Economics & Analytics (CEA) products and services, click here, or call (804) 649-1107. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Other News | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Hunton & Williams Helps Negotiate African Hydroelectric Contract RICHMOND-Hunton & Williams LLP, Virginia's largest law firm, represented the Eastern African country of Uganda in its negotiations with Bujagali Energy Limited for the planned construction of the 250-megawatt Bujagali hydroelectric power project on the Nile River. The project, expected to be the largest foreign direct investment into Sub-Saharan East Africa in history, will promote growth by providing low-cost electricity in an environmentally sustainable and efficient manner. More. US LEC Expands IP-Based Service in Virginia NORFOLK--US LEC Corp. has expanded its Multi-Protocol Label Switching Virtual Private Network service to southeast Virginia, including the cities of Norfolk and Virginia Beach. Said Senior VP Jeff Blackey: "US LEC's MPLS expansion into the Norfolk area enables our entire Virginia footprint with this advanced IP-based technology. Now US LEC business customers throughout the Commonwealth have access to an advanced, redundant and highly scalable voice and data solution … all on a single, enhanced, fully-meshed network." More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Commentary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 No Easy Way Out Rail improvements can do only so much to get trucks off the road. Fiddling with the state road funding formula isn't on the table. And the federal government isn't riding to the rescue. What's left? More. |
|
At Last, a Debate on Sprawl Inefficient patterns of development contribute to pollution, traffic congestion and local fiscal stress. With the election of Tim Kaine, suburban sprawl has finally become a statewide issue. Virginia has a sprawl problem. There is no doubt about it. The initial question, however, is whether it is real or imagined. The pattern of suburban development has had certain unmistakable impacts. It made suburbanites more dependent on automobiles, added to the average number of daily automobile trips, elongated commuting distances, contributed to worsened air quality and substantially increased the per capita burden of street maintenance cost because the number of lane miles in the state highway system increased exponentially. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Events | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hosting an event? Post the details in our weekly events listing. Click here for our listing guidelines. |
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VA Newswire is a free, email-based weekly newsletter that covers news and events from around the state. If you have any news, events, job openings, or office space availability that you would like to include in next week's newswire, email jim@vanewswire.com. Click here for a free subscription. Click here to unsubscribe. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
