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Daily Clip 5/23/17
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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 .

 

McAuliffe announces loan for school energy improvements

A $5.6 million low-interest state loan is expected to fully fund a host of energy efficiency improvements at nine Russell County schools and the energy savings will be used to repay the loan…

How did more than $3.5 Million in state money go to pay off a private airline’s loan in Newport News?

An audit of the Virginia Department of Aviation, conducted in the wake of revelations that the Peninsula Airport Commission used more than $3.5 million in state money to guarantee a loan for a private airline that later defaulted, found much to improve in how the department receives and reviews financial information…

Decision on Mountain States, Wellmont Hospital merger expected in September

Health commissioners for Virginia and Tennessee expect to decide in September whether to allow a merger between two predominant health care systems serving parts of their states…

Council divided over request for Med School investigation

Did officials with the College of Henricopolis School of Medicine follow the guidelines when spending an $800,000 grant? That’s what one member of the Martinsville City Council wants to know…

New poll shows support for Atlantic Coast Pipeline among voters in three affected states

A new survey by the Consumer Energy Alliance shows that a majority of voters polled in Virginia, West Virginia and North Carolina support the expansion of domestic energy production, including construction of the proposed Atlantic Coast Pipeline (ACP)...

Luck Stone buys Chesapeake property for $2.4 million for a distribution site

CBRE|Hampton Roads announced the sale of adjoining properties in Chesapeake to Luck Stone Corp. and Allan Myers Corp. The seller, Higgerson-Buchanan, recently closed its business at 5300 Bainbridge Blvd. after 60 years of operation...

Union, Xenith the latest banks to get hitched

For at least the third time in as many weeks, a regional merger is shaking up the banking ranks in Richmond and across the state...

Pharmaceutical company to expand in Virginia

A pharmaceutical company from India is expanding its Virginia operation thanks in part to state incentives. Gov. Terry McAuliffe on Monday announced that Granules India will spent $35 million to expand its operation in Fairfax County…

What will it take to make Virginia number one for business again?

Virginia’s rural counties are dying as the population continues to flee the southwest portion of the state. Along the state’s “urban crescent” on Interstate 95 in Northern Virginia to I-64 to Hampton Roads, things are booming. In fact, they’re the two only growth regions in the state…

Counties now have additional option for attracting new business

Isle of Wight County now has one more tool for drawing new businesses to the area, thanks to House Bill 1970, which passed earlier this year, County Attorney Mark Popovich told the Board of Supervisors Thursday. The bill grants counties the authority to create economic revitalization zones and offer incentives and…

NCI’s purpose and programs are evolving, Director says

The purpose of the New College Institute (NCI) is to help Southern Virginia residents boost their educational levels in various ways, not just through earning degrees, Executive Director Leanna Blevins emphasizes. That has always been NCI’s mission, and it will continue to be…

New mental health care program launched in Virginia

The Virginia Health Care Foundation has announced a new $1.5 million behavioral health program that is designed to increase access to mental health care for uninsured Virginians and those with little to no access to medical care. The two-year initiative…

UnitedHealth overbilled Medicare by Billions, U.S. says in suit

The Justice Department has sued UnitedHealth Group, saying that senior executives knew the company was overbilling Medicare by hundreds of millions of dollars a year, and halted a repayment plan in 2014 so the money could be used to meet Wall Street’s revenue expectations…

Retroactive Tax laws muddying businesses’ future decisions

The U.S. Supreme Court’s refusal to review seven cases challenging the backdated application of amended state tax laws leaves businesses in the precarious position of not being able to confidently structure…

5 key debates over FDA's Interchangeable-Biosimilar views

Top drugmakers are battling to shape the U.S. Food and Drug Administration's crucial guidance on how biosimilars can be deemed interchangeable with innovator biologics, newly released letters show…

The price tag on Universal Health Care is in, and it's bigger than California’s budget

The price tag is in: It would cost $400 billion to remake California’s health insurance marketplace and create a publicly funded universal heath care system, according to a state financial analysis released Monday. California would have to find an additional…

Kentucky's Retirement debt soars after pessimistic outlook

Kentucky's worst-in-the-nation public pension system is now worse than ever. The state's pension debt grew by roughly $2 billion on Thursday after the retirement system's governing body made dramatic changes to long-held investment assumptions…

Purple Line suffers another setback in court

Metro’s current safety and ridership issues may doom the Purple Line. A U.S. District Court judge said in a ruling on Monday that the Federal Transit Administration has failed to take a "hard look" at how Metro’s ridership and safety issues will impact the 16.2-mile Purple Line. That means…

U.S. top court tightens patent suit rules in blow to 'patent trolls'

The ruling is likely to lessen the steady flow of patent litigation filed in a single federal court district in rural East Texas because of its reputation for having rules and juries that favor plaintiffs bringing infringement suits…

A "personal friend" exemption on gifts to Virginia’s elected officials leaves open an unlimited loophole

Six years after former Gov. Bob McDonnell and his family began receiving money, loans, vacations, golf outings, designer clothes and a Rolex from a businessman he called a friend, little has changed to prevent such largesse being provided to Virginia's top executive, state officials say…

Our No. 1 Challenge

Last week, business leaders from around the region gathered for the Roanoke Regional Chamber’s annual business summit. They heard from nearly two dozen speakers. They mostly heard just one message, though: If you want to grow your local economy, the talent level of the work force matters. A lot…

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