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| Business Intelligence for Virginia's Entrepreneurial Economy | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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In This Issue... 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 | Expansions, Relocations & Launches   | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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VNG to Build Pipeline across the James NORFOLK--Virginia Natural Gas, a subsidiary of AGL Resources, has committed to build a $48- to $60-million pipeline across the James River/Hampton Roads channel in part of the first-ever performance-based rate plan for a Virginia natural gas utility. The plan also freezes VNG customers' non-gas rates for five years, at terms which have not increased since 1996, bringing more certainty to customers. More. Athena Breaks Ground on Warrenton Facility WARRENTON--Athena Technologies, Inc., a provider of flight control and navigation systems for Unmanned Aerial Vehicles (UAVs), has started construction of a 43,000-sq.-ft. corporate office building in the Vint Hill Tech Park. Since 2001, the company has experienced 1,200 percent growth. The company provides the "brains" - flight control and navigation systems - for the majority of major UAV programs today, and is working on projects to integrate manned and unmanned aircraft in the commercial air space. More. In Brief... VIENNA--AvcomEast, a provider of Application Infrastructure Solutions, has opened an office in downtown Baltimore. More. RICHMOND--SMARTBOX, a player in the portable self-storage industry, has entered the Jacksonville, Fla., market with its smart storage solutions. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Hot... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Ruckus Raises $13.7 Million, Hires Former Napster COO Bebel HERNDON--Ruckus, a digital entertainment network geared to college students, has raised $13.7 million in a second round of venture funding. With the Ruckus service, students can legally download music, access Hollywood movies, create a personal profile, and even exchange and share downloaded tracks. Ruckus will use the $13.7 million to scale the business and develop services and partnerships targeted at the college demographic. In related news, Michael Bebel, former COO of Napster, has joined the firm as CEO. Said Bebel: "Digital entertainment is exploding and the college community is at the core. They are, without a doubt, the largest, most influential, most hands-on participants in the evolving world of digital content. The possibilities to serve this demographic and move Ruckus forward are limitless." More. SnagAJob Snags $9 Million in Funding RICHMOND--SnagAJob.com, an online job site for part-time and full-time hourly jobs, has raised $9 million in Series A Preferred Stock financing to be used for expanded sales and marketing, business development and strategic acquisitions. SnagAJob.com focuses solely on the hourly job market, attracting applicants seeking a full-time or part-time hourly job, and records more than 55 million annual job searches for companies hiring non-exempt employees. At any given time, SnagAJob.com features as many as 100,000 hourly job opportunities on its site. More. Cel-SCI Raises $8.3 Million in Private Offering VIENNA--CEL-SCI CORPORATION, developer of immune system-based treatments for cancer and infectious diseases, has raised $8.3 million in a private placement of convertible notes and warrants with a number of independent institutional investors. The company expects to use the proceeds to fund future development activities and to provide working capital. More. Dilon Secures $7.25 million to Promote Gamma-Imaging Camera NEWPORT NEWS--Dilon Technologies, LLC, a manufacturer and supplier of high-resolution molecular imaging systems, has raised $7.25 million in an equity offering that it will use to propel its sales and marketing efforts. Dilon is positioning its Breast-Specific Gamma Imaging camera as a complement to mammography screenings. A patient receives a small dose of a radioactive tracing agent which is absorbed disproportionately by cancer cells. The agent reveals high-intensity "hot spots" that indicate the presence of cancer. More. Deltek Revenues Surge 62 Percent HERNDON--Deltek, a developer of enterprise management software, has reported $107 million in revenues for the first half of 2006, a 62 percent increase over the same period in 2005. The surge was driven by a near-doubling of software revenues, although professional services revenues also were higher. The company has released a series of new products in 2006, including visualization technology for professional services firms and a software system for grant-based nonprofits. More. In Brief... NORFOLK--Hampton Roads Bankshares, Inc., has raised approximately $19 million through a the sale of 1,849,000 shares of common stock. More. ARLINGTON--The AES Corporation has reported $169 million in net income for the 2Q of 2006, a 99 percent increase, on a 15 percent increase in revenue to $3.0 billion. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Not | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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IPIX Bites the Big Pixel RESTON-IPIX, a developer of immersive imaging products, has filed for Chapter 7 bankruptcy and ceased all business operations. The company determined that it lacked the resources to continue in business and could not secure additional financing to keep going. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business... | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sprint Nextel Expands VoIP Deal with Time Warner RESTON-In an expansion of its relationship with Time Warner Cable, Sprint Nextel has been selected to help provision Time Warner's Digital Phone Service in an additional 14 areas. Time Warner Cable soon will utilize Sprint Nextel's IP Network to offer VoIP (Voice over Internet Protocol) telephone service across most of its footprint of approximately 28 million homes-passed. More. Outsourcing Religion FAIRFAX-General Dynamics Information Technology has been awarded a multiple-award Blanket Purchase Agreement, potentially worth $20 million over five years, to provide a wide range of professional support services to the U.S. National Guard Bureau. And these aren't just the usual IT, logistics and management services. They include "chaplain services" and "chaplain family readiness." More. In Brief... FALLS CHURCH--Arrowhead Global Solutions, a provider of integrated telecommunications solutions, has won a contract potentially worth $52.6 million through 2011, to provide portable satellite communications terminals to the Space and Naval Warfare SystemsCenter in Charleston, S.C. More. ARLINGTON--Stanley Associates, Inc., has been awarded a $34.8 million contract to provide support for management of technical directive modification kits for the Naval Air Systems Command. More. RESTON--Knowledge Consulting Group has been awarded a $20 million Blanket Purchase Agreement to provide information assurance support services to the Transportation Security Administration. More. WALLOPS ISLAND--The NASA Wallops Flight Facility has been selected as the launch site for the Air Force Research Laboratory's TacSat 2 satellite. More. ALEXANDRIA--Avineon, Inc., has converted gas distribution information for SEMCO Energy Gas Company, of Port Huron, Mich., from manual maps into an geodatabase. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Deal Makers | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Republic Snaps up Dulles Office Building DULLES--Republic Property Trust, of Washington, has agreed to acquire the Dulles Park Technology Center from Cornerstone Real Estate Advisors for approximately $48.3 million. The five-story, Class A office building stands next to a seven-building office park also owned by Republic. Fronting the Dulles Toll, the property is located within one city block of the proposed Route 28 Metrorail Station. The company also announced that it would move the employees of its Virginia employees to Dulles Park. More. In Brief... RICHMOND-Albemarle Corporation has signed a letter of intent to sell its facility in Thann, France, to International Chemical Investors Group, of Frankfurt, Germany. More. MCLEAN--Gannett Co., Inc., has completed the acquisition of WATL-TV, Channel 36, from Tribune Company, creating a television duopoly with WXIA-TV, the NBC affiliate in Atlanta, which it also owns. More. ARLINGTON--Access Worldwide Communications, Inc., a marketing services organization, has closed on the sale of TMS Professional Markets Group, a pharmaceutical marketing operation, to TMS Professional Markets Group, LLC, in a cash transaction valued at $10.5 million. More. RICHMOND--LandAmerica Financial Group, Inc. a provider of real estate transaction services, has boosted its Northern California presence through the acquisition of Napa Land Title Company, Inc. More. RICHMOND-James River Neonatology, a practice of three physicians and three nurse practitioners, has been acquired by Pediatrix Medical Group, Inc., of Fort Lauderdale, Fla., the nation's leading provider of neonatal, maternal-fetal and pediatric subspecialty physician services. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Innovations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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AOL Provides 5GBs of Free Storage DULLES-As it migrates its business model from subscriber- to advertising-generated Revenues, AOL is making its Safety and Security Center, a comprehensive set of online safety and security tools, available for free to all computer users. The computer tools include free anti-virus software, spyware protection, a firewall, phishing protection and more. It will be available to all online users at no cost and with no obligation, and it can be installed on nearly any PC with the Windows XP or 2000 operating systems. More. In related news... The Great AOL Giveaway Continues DULLES-Beginning September, AOL will make 5 GB of online storage available for free to all Web users, for backing up important files like photos, documents, music, videos. Users also will be able to access their files from any PC or mobile device with a Web connection. Said John McKinley, president of AOL Digital Services: "People are accumulating personal digital assets at a fast pace, especially in areas like digital photos and videos. Yet our in-home research shows that few people are taking steps to protect their digital memories from accidental loss or destruction." The free online storage, he said, will give people a way "to protect their digital memories and have access to them anywhere they go." More. Valcom Introduces New Audio Box ROANOKE--Valcom, a developer of audio products, has released Valcom Room Audio Management, an in-wall sound mixer for classrooms, conference rooms, meeting rooms and other environments. The Room Audio Management control is designed for use in areas/rooms that house a variety of different functions that require the use of microphones or music distribution devices. More. FrontLine to Help Hedge Fund Compliance ALEXANDRIA--FrontLine Compliance, LLC, a securities compliance services firm, has unveiled "FLC Hedge Fund Edge" to help managers comply with impending legislation and regulatory scrutiny. The software is designed to prevent, monitor for, and detect potential risk exposures in hedge funds, focusing on valuation risk, trading risk, conflicts of interest and code of ethics/employee trading, all areas flagged as high-risk by securities regulators. More Mapcom Upgrades Mapping/Operations Tool RICHMOND--Mapcom Systems has released M4 Solutions v7.0 software for telecommunications companies. Since its creation, M4 Solutions has evolved from an engineering mapping tool into an organization-wide geographical operations system. The company coined the term "Geographical Operations System" to represent its marriage of "GIS" (Geographical Information System) technology with "OSS" (Operational Support System) back office functionality. More NetBaldwin Unveils Local Richmond Search Service RICHMOND--NetBaldwin, LLC, a firm specializing in Search Engine Optimization and search-engine marketing, has unveiled a Web service, JustGetLocal,com, to help small and midsized businesses get basic information - location, operating hours, a map - listed by the major search services. The service is being developed in partnership with IMPAK Marketing, a Richmond direct marketing company that distributes Valpak and Reach Magazine and publishes Housetrends magazine. More In Brief... RESTON--Provision Networks has released version 5.6 of its Provision Management Framework, an infrastructure solution that leverages the Microsoft Windows Server 2003 platform to deliver anywhere, anytime access to applications and network resources. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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MeadWestvaco Develops Compostable Cup RICHMOND-MeadWestvaco Corporation, working in collaboration with Cereplast, Inc., and Solo Cup Company, has developed a biodegradable extrusion-coated paperboard product that can be manufactured into cups. Until now, the plastic coating for laminated paper and food-service packaging has been produced from petroleum-based resins. The Cereplast coating, with a heat resistance of 220 degrees Fahrenheit, will be used to replace petroleum-based coatings in MeadWestvaco's laminated paper products manufactured for Solo. Initial markets include cafeterias and foodservice operations that divert their organic wastes to composting facilities. More. VCU Docs Devise Surgery to Treat Atrial Fibrillation RICHMOND--Doctors at the Virginia Commonwealth University Medical Center are performing a new procedure that may eliminate atrial fibrillation, a common rhythm abnormality in the heart's upper chambers and a major cause of stroke. Surgeons insert instruments into the chest through several keyhole-size incisions between the ribs. Guided by a tiny video camera, they destroy the tissue near the origin of the irregular impulses. The damaged tissue disrupts the abnormal signaling pathways, stopping the irregular impulses. More than two million people in the United States suffer from atrial fibrillation. More | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | People | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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WaveLight Taps Tolle as CEO for U.S. Operations STERLING--WaveLight, Inc., a Germany-based developer of laser treatments for eyes, has appointed Wolfgang Tolle as the new CEO of U.S. operations. Tolle, widely known around Virginia during his tenure as president of Virginia's Center for Innovative Technology, also has served as CEO of Launchdreams and, earlier, Cyveillance. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Trends | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Chmura Economics & Analytics |
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 Initial Unemployment claims. The number of initial applicants for unemployment insurance has edged up in Virginia over recent months. In June, the six-month moving average for initial unemployment claims stood at 21,932 in the state, just above April's five-and-a-half year low. Despite increasing in June, initial claims have continued to drop on year-over-year basis, falling 7.1 percent since last June. 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. AOL, USA Today Among Top 10 Internet News Sites RESTON-- More than half (54 percent) of all U.S. Internet users visited sites in the General News category in June 2006, demonstrating consumers' reliance on the Web as a source for news information, comScore Media Metrix concluded in an analysis of consumer activity at general news sites. Dulles-based AOL ranked third globally, after Yahoo and MSNMC, with 20.4 million unique visitors in June. USA TODAY was 10th, with 7.3 million visitors. More | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Other News | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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KSI Leasing Luxury Reston Apartments VIENNA--KSI Services, Inc., has started leasing luxury apartments at The Metropolitan at Reston Town Center, a 21-story tower with 288 apartments ranging in rent from $1,300 to $3,700 monthly. All new leases come with an Apple MacBook. High-tech offerings also include WiFi in all amenity spaces and Verizon's FiOS fiber optic technology in each apartment. More. AirTran Signs on for America's 400th WILLIAMSBURG--AirTran Airways, of Orland, Fla., has signed on as the "official airline" of America's 400th Anniversary, an 18-month series of events commemorating the 1607 founding of Jamestown, the first permanent English settlement in the Americas. AirTran provides 12 daily departures from Newport News-Williamsburg International Airport. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Commentary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Metro Monomania Tom Davis is taking big political risks to funnel $3 billion into the Washington Metro. Why? More. |
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Growth that Pays for Itself Greenvest's proposed $1.3 billion development in Loudoun County would contribute $1 billion toward roads, schools and public facilities. A great deal for the public? Not everyone thinks so. Here is the political reality today in many parts of Virginia: If you want to develop a major real estate project, you'd better find a way to pay for the public investments yourself. Roads, schools, libraries, parks, fire stations, you name it... Voters don't want to foot the bill for newcomers. They're already driving on congested roads, sending their kids to crowded schools and paying ever-higher property taxes -- and they're taking none too kindly to anyone who might add to their problems. 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
