Business Archive

Whole Foods opens store in Newport News

NEWPORT NEWS Whole Foods opened a store at 12080 Jefferson Ave. this morning. The 40,000-square-foot store is located in the Marketplace at Tech Center. The celebration was set to kick off with a “bread-breaking” ceremony at 8:45 a.m., according to a news release on the company’s website.

New York investment firm closes on MHI purchase

New York-based Stellex Capital Management LP announced the completion of its acquisition of Marine Hydraulics International Inc., a privately held ship repair and overhaul contractor in Norfolk.
The deal closed Friday, said Tom Epley, chief executive officer at MHI.
The company employs about 450 people and works on Navy vessels at its pier next to Lamberts Point Docks.

Armada Hoffler boosts profit, presence in Baltimore

Armada Hoffler Properties Inc. posted funds from operation of $10.7 million Tuesday, or 25 cents per diluted share, for the third quarter, which ended Sept. 30. That's an increase over the $7.3 million in funds from operation, or 21 cents per diluted share, for the third quarter last year, according to a news release.

Beer bonanza has Richmond selling bonds to back Stone's brewery

Virginia's capital is raising beer money - $23 million of it. Richmond will sell bonds next week to build a brewery for Escondido, Calif.-based Stone Brewing Co., the ninth-largest U.S. craft-beermaker, on property that's been vacant for four decades. Stone will pay the 218,000-person city to lease the facility and won't be on the hook to repay investors. Taxpayers will.

Chip credit cards could slow holiday shopping

As the calendar flips to November and visions of Black Friday dance in their heads, holiday shoppers using new, more secure chip credit and debit cards will be learning a new checkout procedure. While the added security might be welcome, new cards could mean more frustration and slower checkout lines during the bustle of holiday shopping.

Council to vote on changes to minor league baseball stadium project in Virginia Beach

VIRGINIA BEACH  The builders of a professional baseball stadium have pitched changes to their lease that would lower the cost of the project and get it closer to breaking ground.

Meat processor recalling 167,427 pounds of ground beef

OMAHA, Neb. A meat company based in Nebraska is recalling 167,427 pounds of ground beef that might be tainted with E. coli bacteria. The U.S. Department of Agriculture said Sunday that All American Meats Inc. is recalling the meat that was sold to retailers nationwide. No illnesses have been linked to the beef.

Christopher Kastner named as CFO of Huntington Ingalls

NEWPORT NEWS Christopher D. Kastner has been named as chief financial officer of Huntington Ingalls Industries. The company's Board of Directors also has named Kastner as corporate vice president, business management. Kastner will succeed Barbara Niland, who will retire on March 1, 2016. He has served as corporate vice president and general manager, corporate development, since August 2012.

Virginia's favorite alcohol? Jack Daniel's by a mile

Love that JD. Virginians sure do. Jack Daniel’s No. 7 Black Tennessee Whiskey remained the most popular item last year at the state’s ABC stores. Sales of the whiskey totaled $26.9 million in fiscal 2015, which ended in June, the Virginia Department of Alcoholic Beverage Control reported last week. No other brand of booze came close.

Smithfield Foods dismisses new cancer report on bacon

SMITHFIELD In the no-surprise-here department: A Smithfield exec last week had no kind words for a new study saying that processed meats such as bacon and hot dogs cause cancer.

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