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| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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In This Issue... Entrepreneurial Dominion, Expansions, Relocations and Launches, Who's Hot, Who's Winning Business, Deals & Partnerships, Innovations, Partnerships & Collaborations, Research & Intellectual Property, Trends, Commentary, Other, Events Click here to forward to a friend or colleague who might like this newsletter. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Entrepreneurial Dominion   | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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To capitalize on growing market of premium vodka drinkers, in 2004 McCann formed The Parched Group, LLC, owner of Cirrus brand vodka. When asked how he came up with the name "Parched Group" and "Cirrus Vodka", Paul responds that he wanted to have a company name that drew attention but was not offensive or derogatory. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Expansions, Relocations & Launches | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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In Brief... MANASSAS--Aurora Flight Sciences, which develops unmanned aircraft for military and intelligence uses, has opened a 50,000-square-foot product development facility at the Manassas Regional Airport that will create enough space for the company to add more than 100 employees. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Hot... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Cyveillance on Exponential Growth Path ARLINGTON--Cyveillance, a provider of online risk monitoring and management solutions, has reported its 18th consecutive quarter of revenue growth. Since releasing its Intelligence Center 3.0 in January with industry-leading, service-level agreements, the company states, it has experienced "exponential growth," adding new customers and building its partner network. More. NewMarket Profits Surge 46 Percent RICHMOND--NewMarket Corporation, a developer of chemical additives that enhance the performance of petroleum products, has reported 1Q earnings of $15.5 million, a gain of 46 percent over the same quarter in 2005. The progress reflected "significant improvement" in the petroleum additives segment, more than offsetting the continued erosion of its tetraethyl lead products. More. In Brief... MCLEAN--Cvent, Inc., a developer of web-based event registration, eMarketing and travel solutions, has reported a 63 percent increase in sales for the quarter ending on June 30, 2006, as well as a record number of new customer contracts signed in the first six months of the year. More. WINCHESTER--Trex Company, Inc., manufacturer of recycled decking and railing products, has announced 2Q sales of $121.5 million up 47 percent, and profit improvement to $7.1 million, up from a $1.0 million loss a year ago. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Not | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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FBR Group Takes $42 Million Write-Down ARLINGTON--Friedman, Billings, Ramsey Group, Inc., has reported a net after-tax 2Q loss of $30.2 million, compared to earnings of $53.2 million the year before. The results reflect a non-cash $42.2 million write-down of equity investments in the firm's merchant banking portfolio as well as "what was essentially a breakeven quarter for capital markets and an average balance in FBR's mortgage securities portfolio of only $1.1 billion." More. Massey Profits Hit Thin Seam RICHMOND--Massey Energy Company, the fourth largest coal producer in the United States based on revenue, has reported a decline in 2Q profits to $3.2 million from $37 million the year before. The company blamed the decline, amid high prices and sales for coal, on the fire-related idling of its Aracoma longwall and productivity problems in its room-and-pillar deep mines. Said CEO Don L. Blankenship: "Central Appalachia coal mining has been, and continues to be, under significant cost pressure. Labor, productivity, environmental, and regulatory factors are increasingly difficult to forecast." More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Latista Sells Field Service Solution to Drees Homes RESTON-LATISTA has sold its Latista Field Service to Drees Homes, the country's eighth largest private home builder. The tablet PC-based solution includes a digital camera for "issues capture," forms, punchlists, business workflow functionality and the capability to translate work orders into Spanish. Said Christopher Ramsey, executive vice president: "Industry data shows that about $5,000 is spent per home in repairs. These costs, as well as potential litigation costs, can be significantly reduced through improved quality control during the construction process." More. Even Croats Are Getting their Own U.S. TV Stations HERNDON-Home2Us Communications,Inc., operator of a satellite TV platform, has joined with SES AMERICOM to deliver hit Croatian radio and TV shows to thousands of Croat viewers living in the United States. From a teleport in Leuk, Switzerland; the content moves to a teleport n Woodbine, Md., where it is is prepared for distribution over Home2Us' satellite link to Croatian expatriates in the United States. More. In Brief... ARLINGTON--CACI International Inc., is one of 12 prime contractors to share in a $20 billion, multiple-award contract for the Information Technology Enterprise Solutions 2 Services program for the U.S. Army. More. FAIRFAX--SRA International, Inc., has been awarded a contract potentially worth $42.2 million over 45 months to provide strategy and execution support services to the Office for Interoperability and Compatibility, which promotes interoperability between local, tribal, state and federal emergency preparedness and response. More. ARLINGTON--CACI International Inc., has won a contract potentially worth $15.6 million over five years to provide aviation logistics support services for the U.S. Marine Corps Forces, Atlantic. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Deal Makers | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Merger of Community Banks Creates $2.5 Billion Powerhouse MARTINSVILLE-After the merger of 10 community banks in Southside Virginia, the largest state-chartered bank headquartered bank in Virginia will be located in Martinsville. Carter Bank & Trust will have assets totaling $2.5 billion, with operations in Roanoke, Fredericksburg, Lynchburg, Danville, Martinsville, Rocky Mount, Galax, South Boston and Staunton. Worth Harris Carter, the founder of the community banks, will serve as chairman of the new company. Plans call for seeking regulatory approval after the merger to open 25 additional facilities as branch offices. More. Performance Fibers Acquires German Polyester Yarn Business RICHMOND-An affiliate of Performance Fibers has acquired INVISTA Resins & Fibers GmbH's German polyester yarn business. The acquisition includes three manufacturing facilities that produce industrial fibers for sewing thread, technical textiles and other industrial and specialty applications. The transaction includes commercial, manufacturing and R&D operations. Said CEO Greg Rogowski: "The purchase of these German operations is part of our overall growth strategy. We are continuing to build on our global platform to provide superior manufacturing, research and development, and sales and marketing to our customers in every region of the world." More. Gannett to Own 42.5 Percent of Careerbuilder McLEAN-Gannett Co., Inc., has worked out an agreement with media giants The McClatchy Company and Tribune Company regarding their ownership stakes in CareerBuilder.com, the nation's largest online classified recruitment site, and two other online businesses, ShopLocal.com and Topix.net. Under the agreement, Gannett will up its stake in CareerBuilder and ShopLocal.com to 42.5 percent, and smaller percentages for the other two. The agreement values CareerBuilder at $1.55 billion. More. Smithfield to Buy ConAgra Meats Businesses SMITHFIELD--Smithfield Foods has agreed to acquire the $1.8 billion-a-year branded meats business of ConAgra Foods for $575 million. The ConAgra operations include the Armour, Butterball, Eckrich, Margherita, Longmont and LunchMakers brand. Said C. Larry Pope, Smithfield president and COO: "This acquisition furthers our strategy of growing the packaged meats side of our business with higher-value, further-processed and pre-cooked products. In addition, this continues our previously announced strategy of utilizing our superior raw materials internally as opposed to selling in the commodity market." More. JER Acquires Jameson Inns MCLEAN--JER Partners, the private equity investment arm of The J.E. Robert Companies, has Jameson Inns, Inc., for $371 million. Jameson, based in Atlanta, operates 107 limited-service hotels limited service hotels in the southeast and Midwest with a total of 7,550 rooms. More. Stone Mountain to be Sold to Grayling Wireless HUDDLESTON--Stone Mountain Ltd., manufacturer of rugged land-mobile radio products, has agreed to be acquired by Grayling Wireless USA, Inc., a subsidiary of a company based in Calgary, Alberta. Said Bill Jennings, president of the Bedford County-based Stone Mountain: "We see the acquisition as strategic as it brings together Grayling's ClearCalm Advantage system and Stone Mountain's Sword, Juno, Utah, Omaha and Gold LMR products creating a comprehensive, high quality, public safety audio accessory line." More. CBI to Acquire Australian Peptide-Synthesis Firm RICHMOND--Commonwealth Biotechnologies, Inc. (CBI), a life sciences contract research organization, has signed a non-binding term sheet to acquire the outstanding capital stock of Mimotopes Pty Ltd, a subsidiary of Nedlands, Australia-based PharmAust Ltd. Mimotopes provides specialized pre-clinical peptide synthesis and development services to the healthcare and pharmaceutical products industries. CBI estimates the value of Mimotopes will range between $6.5 million and $8.0 million. More. In Brief... RICHMOND--Media General, Inc., has sold KWCH, a CBS affiliate in Wichita, Kan., and three satellite stations, to Schurz Communications, Inc., of South Bend, Ind., for $73 million. More. In another transaction, the media conglomerate sold its CBS television station in Chattanooga, Tenn, for $22 million. More. In a third deal, the company has agreed to sell stations in Birmingham, Ala., and Mason City, Iowa, for $35 million. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Innovations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Virginia Ports to Join Secure Cargo Corridors Network NORFOLK--The Virginia Port Authority has joined with GE's Security business to install fixed readers at the Norfolk International Terminals and Portsmouth Marine Terminal to communicate with Container Security Devices mounted in ocean-going cargo containers as they pass through the terminal. This step will make The Port of Virginia the first U.S. port to participate in a worldwide Secure Cargo Corridors network. The network will provide the infrastructure to verify unauthorized opening of containers with a high degree of accuracy and reliability. More. CyraKnow Launches Wine Guide for the iPod FAIRFAX--CyraKnow, provider of interactive software for the iPod, has launched a Wine Guide in audio format for the iPod-savvy wine enthusiast, featuring Mark Phillips, one of the nation's most popular speakers about wine. The audio guide includes over one and a half hours of practical advice on such topics as "how to describe wine," "how to buy wine," and "when a wine is ready." More. CFN Augments FiberSource Knowledge-Base HERNDON--CFN Services, a provider of managed telecom infrastructure services, has integrated wireless site data into its FiberSource telecom-infrastructure knowledge-base. Said Mike MacKenzie, VP of business development: "By cross referencing such a broad base of wireless sites against the fiber and telecom transport infrastructure resident in FiberSource, we ... can now pinpoint the most economical way to deliver broadband data and Ethernet based services to more than 200,000 wireless sites, while also identifying which sites are best situated for 3G and 4G data services deployment." More. ConBrio Unveils Sales Force Scheduling Program ROANOKE--ConBrio Systems has completed initial development of its product, Envoy, a real-time sales force scheduling program that optimizes sales call schedules for time, distance and customer value. Said CEO Mark Lucas: "This product will revolutionize the sales call process because it offers the sales representative real time customer visit scheduling and rescheduling information." More. In Brief... RICHMOND--Velocity Micro, a manufacturer of custom-built, high-performance PCs, has rolled out new PCs equipped with the Intel Core 2 Duo and Intel Core 2 Extreme processors. More. MIDLOTHIAN--Getloaded.com, an Internet load board for the transportation industry, has unveiled a Fuel Tax Reporting System that will help drivers comply with the International Fuel Tax Agreements file quarterly fuel tax reports. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Partnerships & Collaborations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Up Periscope! Cadmus Joint Ventures with Minneapolis Firm RICHMOND--Cadmus Communications has created a joint venture with Periscope, Inc., a Minneapolis graphic services and creative agency. The new PeriscopeCadmus will integrate Cadmus Specialty Packaging's global packaging network with Periscope's design and pre-press capabilities to provide an end-to-end print-management solution worldwide. PeriscopeCadmus already has begun operations at its expanded pre-press and print-management operation in Hong Kong. More. SuperCom to Market Incident Response Solution to Oil-Gas Sector MCLEAN--SuperCom, Inc., provider of smart-card and electronic identification solutions, has agreed with H.M.S. Telecom, LLC, an oil and gas industry consulting group from Houston, Tex., to market SuperCom's Incident Response Management System to the oil and gas industry. The system provides a comprehensive solution to manage and implement personnel resources at an incident site following an act of terrorism, natural disaster or accident. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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In Brief... GLEN ALLEN-Insmed Incorporated has struck a deal with Phyton Biotech, Inc., of East Windsor, N.J., in which Phyton will utilize its cell-fermentation technology to manufacture Insmed's IPLEX compound. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | People | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Suggs to Step Down at UPS Freight RICHMOND--Leo Suggs, the president of UPS Freight, will retire at the end of the year, and will devote the next five months to a broad service quality initiative at the trucking company. UPS has named Gordon Mackenzie, most recently the senior vice president and COO, as president. More. In Brief... NORFOLK--The Virginia Port Authority has engaged Boyden global executive search to select a new executive director to replace J. Robert Bray, who will retire at the end of 2007. More. RESTON--Advanced video analytics provider Cernium Corporation has announced the appointment of Robert Latchford to the position of CFO. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Trends | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Chmura Economics & Analytics |
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 Virginia employment growth. After slowing over previous months, the pace of employment growth in Virginia picked up in June. For the year ending with June 2006, employment increased 1.8 percent in the state compared to a 1.4 percent gain for the nation. Over the last twelve months, Blacksburg (+4.9 percent), Northern Virginia (+3.2 percent), and Winchester (+2.8 percent) recorded the fastest employment growth among the state metro areas. The only year-over-year employment loss occurred in Danville, which contracted 4.3 percent. The monthly periodicity of employment data makes it the most timely and encompassing measure of regional economic growth. For details and forecasts of economic 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Kaine to Cap Menhaden Harvest REEDVILLE--Gov. Timothy M. Kaine today has proposed setting an annual cap of 109,000 metric tons on the harvest of menhaden from the Chesapeake Bay. The proposal is consistent with goals set in a fishery management plan adopted by the Atlantic States Marine Fisheries Commission. Said Kaine: "Today, in Virginia, we again demonstrate that protecting Virginia's environment and supporting our economy can go hand in hand. ... [The proposal will] protect the health of the menhaden fishery, foster additional scientific research, and protect fishery-related jobs." More. Omega-Protein Corporation, Inc., a manufacturer of heart-healthy fish oils containing Omega-3 fatty acids and Virginia's major consumer of menhaden, supported the Governor's initiative. Said CEO Joe von Rosenberg: "The Governor's proposal addresses certain important practical concerns that the company had with the original ASMFC recommendation." More. Massimo Zanetti to Produce Organic Coffee in Suffolk SUFFOLK-Massimo Zanetti Beverage's coffee-manufacturing facility in Suffolk has been approved by Quality Insurance International, a certification group of organic food systems, to produce organic coffee. Said Felix Venezuela, vp of operations and supply chain: "We have seen an increasing demand and growing trend in offerings of organic products for consumers over the past few years. And more and more, our retail customers are looking to have organic products on their shelves." More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Commentary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Never-Ending Racial Wrongs The choice is simple: Does Virginia want to treat all citizens equally or does it want to treat Virginia Indians as a special classes of citizens to assuage white guilt? More. |
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Summer Budget Savings As we while away the long days of summer, let's give some thought to creative ways of getting more for our tax dollars. Here are some suggestions, some old, some new. This summer is a good time to look at some issues facing our state and to think about how to confront them more creatively. Some of these thoughts I've written about before, but they bear repeating. On transportation, it is important to keep in mind that we are spending some $9.5 billion on this item in the 2007-2008 biennial budget, so don't get the idea that nothing is being done. The General Assembly should fully review the monies already available to see if they could be spent more wisely. It makes little sense to raise our taxes if the money won't be spent effectively. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Events | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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 jabacon@baconsrebellion.com. Click here for a free subscription. Click here to unsubscribe. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
