Saturday, October 10WATCHFUL EYE

Tag: Virginia Business

VADOC taking control of Lawrenceville prison from GEO Group in August
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VADOC taking control of Lawrenceville prison from GEO Group in August

VADOC recently confirmed the department is still on track with its takeover plan Lawrenceville Correctional Center is in its final weeks under private management. Virginia Department of Corrections (VADOC) will assume control of the prison on August 1. VADOC announced its intention to take over the state’s only privately-run prison last December. In a press release earlier this month, the department revealed a VADOC team conducted a shakedown at Lawrenceville and discovered an array of contraband, including drugs, phones, and cash. VADOC added that it is still set to take control of the facility next month. Lawrenceville is currently run by GEO Group, a company that owns, leases, and manages prisons in the U.S., Australia, and South Africa. But Lawrenceville is its only operat...
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Companies plan to ramp up shift to automation, reports Richmond Fed
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Companies plan to ramp up shift to automation, reports Richmond Fed

Workers may want to prepare. According to the Richmond Federal Reserve, companies have been investing in automation and plan to ramp up that shift as inflation persists. Over the past year, about 60% of companies have automated tasks previously performed by employees, and nearly two-thirds of companies have made it a “strategic priority” to now ramp up automation going forward, the Richmond Fed said the CFO Survey revealed. The automation that occurred over the past year has come from a combination of software, equipment, and technology. But the  Fed said the majority of firms that plan to automate over the next 12 months intend to do so with AI. And why are companies increasing automation? The majority, 58%, reported using automation to improve product quality, the Fed no...
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VA ABC hosting grand opening today for new Northern Virginia store
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Business, News, What & Where

VA ABC hosting grand opening today for new Northern Virginia store

Virginia ABC is holding a grand opening ceremony today, May 29, for its new store at 825 S. Washington St. in Alexandria. This new VA ABC location, Store 119, is in the South Washington Street Shopping Center. According to the Authority, it’s 3,700-square-foot store and will offer more than 1,500 different products. Store 119 hours are 10 a.m. to 9 p.m. Monday through Saturday and noon to 6 p.m. Sunday. This is the 8th Virginia ABC in Alexandria. “As Virginia ABC celebrates its 90th anniversary this year, we are proud to serve all Virginians by generating revenues from new stores like this one that help make the commonwealth the best place to live, work and raise a family,” said CEO Dale Farino. According to Farino, Virginia ABC has returned more than $2.9 billion to th...
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Northern Neck man pleads guilty to $2.4 million in bank fraud at Primis
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Northern Neck man pleads guilty to $2.4 million in bank fraud at Primis

James Stevens, a former Primis employee, is facing a sentence of up to 30 years in federal prison after pleading guilty to bank fraud. The 46-year-old man from Weems worked for the bank from 2002 to 2023, although, over that period, the bank was sold several times and operated under different names. According Stevens' own admission in federal court documents, from about 2008 up until his departure from Primis in 2023, he was exploiting his position to get money for himself, for others, and to pay fraudulent loans he was making at the bank. Stevens last position at the bank was as commericial lender. His “primary method” of fraud was issuing loans in other people’s names, the court documents state. For example, he admitted that he originated at least $530,000 in loans in the nam...
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Virginia lawmakers vote to make cocktails to go permanent
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Biz & Life, News

Virginia lawmakers vote to make cocktails to go permanent

Lawmakers in both houses have decided Virginia should keep the ability to sell cocktails to go. During the pandemic, Virginia was one the states that allowed the sale of cocktails to go on a temporary basis to help businesses survive through struggling times. As it stands, that ability will expire on July 1, 2024. House Bill 688, patroned by Delegate Jay Leftwich, and Senate Bill 635, patroned by Senator Aaron Rouse, repeal the sunset date. And the bills give properly licensed distillers, restaurants, and farm wineries a permanent ability to sell mixed beverages and pre-mixed wine for off-premises consumption. The final vote in the House received overwhelming support with an 81-18 vote. In the Senate, the vote in favor was unanimous. Although the bill still has to be signed int...
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Plans for $2 bn Alexandria Entertainment District unveiled
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Plans for $2 bn Alexandria Entertainment District unveiled

Plans are in the works to develop a 9 million sq. ft. entertainment district at Potomac Yard in Alexandria. The project is a public-private partnership between the City of Alexandria, the Commonwealth of Virginia, Monumental Sports & Entertainment, and JBG SMITH. According the Alexandria Economic Development Partnership (AEDP), the entertainment district will include hotels, retail, residential, restaurants, conference, and community gathering spaces. Other standout elements include: The global headquarters for Monumental Sports & Entertainment and its more than 650 employees An arena for the Washington Capitals and Washington Wizards A state-of-the art Monumental Sports Network media studio The Wizards practice facility An expanded e-sports facility A perf...
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