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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, Deal Makers, Innovations, Partnerships & Collaborations, Research & Development, People, Trends, Other News, 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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Cairo Launches Defense Solutions Division CHANTILLY--Cairo Corp., a government solutions provider, is launching a Government & Defense Solutions Division. Cairo executives expect the new division to double the company's organic growth in the government civilian and defense markets within the next four years. Cairo has already seen 29 consecutive quarters of profitable operations, capped by 25 percent growth in 2006. More. In Brief... RICHMOND-The Hirschler Fleischer law firm will move its offices from the Federal Reserve building in downtown Richmond to the newly renovated Edgeworth Building in Tobacco Row. More. MANASSAS--JANSON Communications, a strategic communications/public relations firm, has opened an office in Huntsville, Ala. More. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Hot | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DigitalBridge Raises $17 Million in Equity, Debt Financing ASHBURN--DigitalBridge Communications Corp., a provider of broadband service to underserved communities, has raised more than $11 million in Series A venture financing and $6.25 million in debt. DBC concurrently closed the acquisitions of Teton Wireless and Montana Wireless, providers of wireless cable and Internet services in Idaho and Montana. DBC subscribers can set up service on their own within a matter of minutes and use their portable service inside or outside their homes and offices. More. In Brief... TAPPAHANNOCK--Eastern Virginia Bankshares, Inc., has entered into an underwriting agreement for the sale of one million shares of common stock for $22 per share, yielding gross proceeds of approximately $22 million. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Not | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sunrise Committee Reviews Insider Trading Claims MCLEAN-The Sunrise Senior Living, Inc, board of directors has appointed a special independent committee to review recent insider sales of Sunrise stock and the company's historical practices related to stock option grants. The decision followed receipt of a letter from a union shareholder that generated media coverage and prompted an inquiry by the Securities and Exchange Commission for more information. More. Accupuncture Commission Sticks it to Virginia ALEXANDRIA--The National Certification Commission for Acupuncture and Oriental Medicine has relocated its offices from Alexandria to Jacksonville, Fla. The long-anticipated move has allowed NCCAOM to purchase an office suite in Jacksonville rather than continue to lease in "the high-priced Metropolitan Washington, D.C., area." More. In Brief... STANLEYTOWN-Blaming an industry-wide slowdown in furniture sales, Stanley Furniture Company, Inc., will lay off about 200 hourly and salaried employees at its Robbinsville, N.C., facility. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Who's Winning Business | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Oh, Great, Now an Efficient IRS Will Hound Us Down ALEXANDRIA--Avineon, Inc., has won a contract from the Internal Revenue Service to develop a prototype electronic system for the filing and release of the Notice of Federal Tax Liens. The new electronic system will streamline processes, reducing cost and time while increasing efficiency. The IRS files more than one million lien documents annually with around 4,000 federal, state and local recording offices that typically require extensive paperwork with minimal standardization. More General Dynamics Wins Missile Defense Contract FAIRFAX--General Dynamics has won an 18-month, $23.3 million contract to support research and development efforts on the Alternative Infrared Satellite System. The AIRSS program is intended to provide strategic and tactical missile warning and missile defense for the U.S., beginning in 2015. More In Brief... CHANTILLY--GTSI Corp., has won a contract potentially worth $63 million over five years under the Federal Aviation Administration's Strategic Sourcing for the Acquisition of Various Equipment and Supplies (SAVES) Program. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Deal Makers | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Monmouth Acquires Roanoke Industrial Building for $7.1 Million ROANOKE--Monmouth Real Estate Investment Corporation, of Freehold, N.J., has acquired an 83,000-square-foot industrial building in Roanoke for $7.1 million. The property, which is net-leased to DHL, was owned by NPI Properties-Roanoke, LLC. More. Hilb Rogal to Buy Loan Protector General RICHMOND--Hilb Rogal & Hobbs Company, the world's tenth largest insurance and risk management intermediary, has agreed to acquire Loan Protector General, a provider of customized insurance tracking programs and lender-placed insurance products to the mortgage industry. The Cleveland, Ohio-based company recorded revenues of approximately $8 million in 2006. More. Global Resource Nabs Equipment Service Parts WEST BERLIN, N.J.--Global Resource Corp., developer of oil-extraction technology based on microwave radiation, has purchased Equipment Service Parts, Inc. (ESP), a Virginia firm specializing in tooling and manufacturing. ESP reports annual revenues estimated at $4.0 million and net assets of approximately $2.5 million. Said GRBC President Frank Pringle: "Our company will save approximately 40 percent from the conventional bidding process on the manufacturing of our patent pending microwave technology units. We anticipate an increase in the existing business of ESP by 200 percent to 300 percent over the next 18 months." More Protivity Inspired to Acquire Enspier ALEXANDRIA-Enspier Technologies, Inc., a provider of management and technology consulting services, has been acquired by Protiviti Inc., of Menlo Park, Calif. Enspier's 57 employees will be incorporated into Protiviti Government Services, Inc., based in Vienna. More | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Innovations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Nano Interface Tackles "Late Stent Thrombosis" LORTON--Nano Interface Technology, developer of technologies for biomedical devices, is expanding application of its nanohydroxyapatite coating technology to solve the problem of drug-coated stents. Growing evidence suggests that drug-eluting stents may be susceptible to an event known as "late stent thrombosis", where blood-clotting on the stent can lead to higher mortality. The presence of nanohydroxyapatite coatings on the stent can prevent the problem. More. Leesburg Firm Releases Podcast about Call Centers LEESBURG-Interactive Softworks, Inc., a provider of contact center solutions, has released a podcast entitled, "The Evolving Contact Center," that covers changing technology, business processes and industry best practices for contact centers. Said Robb Duke, senior marketing director: "We are proud to be the first software company to deliver a new media alternative full of information about emerging technologies, processes and techniques for contact centers." More. In Brief... CHANTILLY--Online Resources Corp., a provider of Web-based financial services, has deployed its integrated security solution in advance of the year-end deadline set by the Federal Financial Institutions Examination Council. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Partnerships and Collaborations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aurora, Athena Launch Successful Flight of GoldenEye 80 WARRENTON--Athena Technologies and Aurora Flight Sciences collaborated in the successful first flight of Aurora's GoldenEye 80 unmanned aerial vehicle. The UAV is designed for a variety of military missions, from conducting surveillance beyond hills in rural areas to gathering intelligence while flying between buildings in urban warfare operations. The 150-pound vehicle takes off and lands vertically but can sprout wings for horizontal flight. GoldenEye became the first such UAV to fly under the power of a heavy fuel engine, which uses military fuel. Athena contributed the flight control and navigation system. More. Time Life, BrightCove Collaborate to Promote Video/DVD Sales FAIRFAX--Time Life, creator and marketer of book, music, video/DVD, and multimedia products, is joining Boston-based Brightcove, an Internet TV pioneer, to promote Time Life products. Time Life will launch an Internet video channel on Brightcover.com, and use Brightcover viral distribution and managed syndication services to drive sales of its 25-DVD set of the 60s-vintage spy spoof, "Get Smart." More. SAIC Inks Marketing Deal with Zebra Imaging MCLEAN-Science Applications International Corporation has entered into a master marketing agreement with Zebra Imaging, of Austin, Tex., to advance three-dimensional holographic imaging for defense, intelligence and related opportunities. Zebra Imaging provides holograms and displays, including large scale, autostereoscopic, full-parallax (omni-directional 3D viewing), full-color displays for 3D digital imagery. More. webMethods, Wipro Target Utility Sector FAIRFAX--webMethods, Inc., a business integration software company, has extended its global partnership with Wipro Limited, a Bangalore, India-based IT giant. The two companies will jointly develop new solutions using webMethods' flagship product suite, webMethods Fabric, targeting the business process requirements of the energy and utilities sector. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | R&D / Intellectual Property | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mobile Satellite Nails Down 16th Patent RESTON--Mobile Satellite Ventures, developer of a hybrid mobile-satellite communications network, has been awarded its 16th patent relating to Ancillary Terrestrial Component technology. The patent sets forth systems and methods for prioritizing frequencies based upon the geographic distance between the ATC coverage area and the satellite spot beam that is also using those frequencies. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | People | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sprint Nextel Elevates Forsee to Chairman RESTON--Sprint Nextel Corp. has named Gary D. Forsee, president and CEO, to serve as chairman as well. He replaces Tim Donahue, who retires as executive chairman at the end of this month. Forsee has served as president and chief executive officer of Sprint Nextel since the company's merger in August 2005, and before that served as CEO and chairman of Sprint. More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Trends | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Chmura Economics & Analytics |
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 House Price Appreciation. House price appreciation slowed in both Virginia and the United States in the third quarter of 2006. For the year ending with the third quarter, house prices advanced 9.9 percent in the state, compared to 7.7 percent in the nation. During that period, house price growth slowed in the majority of the state's metropolitan areas, but most metros still recorded a faster pace of growth than the nation. The metro areas with the fastest growth rates over the last year were Hampton Roads (+13.7 percent), Harrisonburg (+13.4 percent), and Richmond (12.2 percent). For details on regional economic conditions across Virginia, including Richmond, Northern Virginia, and Hampton Roads, 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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Norfolk Southern Budgets $1.34 Billion in Capital Improvements NORFOLK--Norfolk Southern Corporation plans to spend $1.34 billion in 2007 for capital improvements to its railroad operations and subsidiaries. The budget contains business development initiatives totaling $97 million, including investments in intermodal terminals and equipment, increased access and capacity for coal traffic, bulk transfer facilities, and vehicle production and distribution facilities. Also included is $28 million for public-private partnership projects to improve the nation's transportation infrastructure, reduce fuel consumption and air pollution, and relieve highway congestion by moving freight off highways onto rail. More. T.J. High School Students to Build Satellite DULLES--Orbital Sciences Corporation is partnering with the Thomas Jefferson High School for Science and Technology, of Alexandria, to build the first satellite to be developed and assembled entirely by high school students. The satellite program will be run by students who are studying physics and engineering. The spacecraft, to be completed and launched in about two years, will be named TJ-SAT. More. Alltel Introduces EVDO Wireless Technology to Norfolk Area NORFOLK--Alltel Wireless, the nation's largest wireless network, is expanding its wireless broadband service in the Norfolk area with the roll out of its next-generation EVDO (evolution data optimized) service. The technology provides customers with unlimited wireless access to the Internet at speeds comparable to wired broadband connections such as cable modem or DSL. More. Insmed Fined $7.5 Million in Patent Trial RICHMOND-A California jury found Insmed, Inc., guilty of infringing upon patents held by Genentech, Inc., and Tercica, Inc., in connection with its drug iPLEX. The jury awarded damages of $7.5 million plus a 15 percent royalty on sales over $100 million and 20 percent for sales above $100 million. More. In Brief... RICHMOND--VITAS Innovative Hospice Care, a Miami, Fla.-based hospice provider, has launched a hospice serving Richmond and surrounding communities More. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Back To Top | Commentary | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Clueless Politicians talk about protecting the "American Dream." What they refuse to tell voters is that the greatest threat to an unsustainable American way of life is... the American way of life. More. |
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No Such Thing as "Free" Parking Free parking is like a free lunch: Someone pays, whether they know it or not. Trouble is, the hidden subsidy increases driving and worsens traffic congestion. In Virginia's transportation debate, the role of parking comes as an afterthought. Let me rephrase that. The role of parking doesn't even come up. While politicians, pundits and lobbyists bray for billions more in spending for new roads and mass transit facilities, the number of speeches, editorials and position papers dedicated to the relationship between parking, automobility and other forms of transportation has been just about zero. It goes without saying that if you want to drive somewhere, you need more than roads -- you need a place to park your car when you get there. But Virginians are clueless about the massive investment they collectively make in creating and maintaining millions of parking spaces, and the impact of that investment upon their transportation choices. 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. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
