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Daily Clip 5/12/17
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TROUTMAN SANDERS

STRATEGIES

Below are newspaper articles from around the Commonwealth that you may find of interest.These materials are to inform you of developments that may affect your business and are not to be considered legal advice. If you have any questions please contact Mike Woods .

 

State revenue growth loses steam in April as income tax payments lag

Virginia is still likely to end the fiscal year in the black, but revenues dropped in April, including an unforeseen lag in income tax payments that aren’t withheld from paychecks. Total revenues fell by 3.4 percent compared with the same month a year ago, but…

Virginia House, Senate to stream some meetings

The Virginia General Assembly will stream some committee meetings over the Internet next session, a milestone for a body that has resisted this sort of technology. The Senate announced its plan Thursday…

Federal agencies approve Sunset/CPC deal

Two federal agencies gave final approval Thursday to the agreement between the buyer of OptiNet and the Cumberland Plateau Co. The National Telecommunications Information Administration and the Economic Development Administration each approved a recently negotiated agreement between…

Port of Virginia sets another volume record for the month of April

April was another boom month for the port, its busiest April on record. The port moved 225,196 containers last month. That was a gain of 4.6 percent from the same month a year ago…

Straight Path accepts $3.1 billion deal with Verizon

Straight Path Communications Inc. has accepted a $3.1 billion bid from Verizon Communications Inc., ending a bidding war with AT&T for the Glen Allen-based company. Straight Path holds a portfolio of millimeter-wave spectrum, airwaves considered highly important in the development of fifth-generation (5G) wireless services…

Botetourt school board approves energy performance contract

A $6.3 million project that will make Botetourt County school buildings more energy efficient, while paying for itself through reduced utility bills, was set in motion Thursday night. The county school board voted to approve a 15-year energy performance contract…

Richmond Jail Program lowers recidivism, if inmates participate long enough, study finds

A study by a University of Richmond professor says a program aimed at reducing recidivism at the Richmond City Justice Center works, but only if inmates are incarcerated long enough…

Perriello sold financial stake in company linked to pipeline and Trump’s border wall

Democratic gubernatorial candidate Tom Perriello has sold his financial holdings in a construction company interested in building President Donald Trump’s wall along the Mexican border and that has worked with…

Gillespie pitches spending cuts and attrition

GOP gubernatorial hopeful Ed Gillespie said this week he can find $200 million in savings in the state budget, partly by eliminating roughly 1,000 government jobs. Gillespie's "Government 2.0" plan relies on an approaching "retirement cliff." The…

FBI raids Maryland GOP consultant over 2013 Virginia race

FBI agents raided the office of a Republican consulting firm in Maryland on Thursday in connection with an investigation into the 2013 Virginia governor’s race. The FBI confirmed it served a search warrant in Annapolis, Maryland, but declined to elaborate…

Kaiser Permanente plans to stay in Obamacare exchanges

Bernard Tyson, chief executive of insurer Kaiser Permanente, said Thursday that the company would be sticking with the Obamacare exchanges, despite acknowledging that they were unstable….

Anthem denied injunction to keep Cigna in $54B Merger

A Delaware court late Thursday rejected Anthem Corp.'s bid for a 60-day block on Cigna Inc.'s declared intent to terminate the two health insurers' $54 billion merge…

Md. Gov. Hogan asks for legal remedy in stalled Purple Line case

Gov. Larry Hogan is urging Maryland’s attorney general to take the next step in pushing a federal judge to issue a decision in the court case that has stalled the Purple Line…

Md. approves Credits for large Offshore Wind projects

The Maryland Public Service Commission on Thursday approved vital credits for two major offshore wind energy projects that together are expected to produce almost 370 megawatts of power…

It's official: South Carolina has a new gas tax after S.C. House and Senate override Gov. McMaster’s veto

Less than a day after the governor vetoed the infrastructure bill that would raise South Carolina's gas tax for the first time since 1987, both the S.C. House of Representatives and the Senate voted to overrule him Wednesday...

With business still reeling, Wells Fargo plans more cost cutting and digital initiatives

The bank laid out plans for $2 billion in fresh cost cuts and a greater focus on digital banking -- including on the Facebook Messenger platform -- as it tries to attract new customers following its accounts scandal…

New P3s may finally bridge the Digital Divide

Many municipalities are forming public-private partnerships to bring high-speed Internet to long-neglected places. Their approaches, however, vary widely…

FCC mulling preempting Local Rules to speed buildout

The Federal Communications Commission asked for public comment on whether it should put in place rules that could sidestep local authority in the interest of speeding up broadband infrastructure deployment…

Keeping teenagers out of adult court carries a price tag

Few state lawmakers want North Carolina to be the only state left that still automatically tries teenagers in adult court. But some are hesitant to reshuffle the state’s separate adult and juvenile justice systems when…

Why are so many insurers leaving Obamacare?

One of the most common reasons critics of Obamacare say the law is “collapsing” is that insurers appear to be fleeing the Affordable Care Act’s health-insurance exchanges, or the state-based, online marketplaces where…

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