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Daily Clip 8/16/17
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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 .

 

VRS investments end year higher than expected at 12.1 percent

The Virginia Retirement System earned a 12.1 percent return on its investments in the last fiscal year, which should ease pressure on the contribution rates it will approve this fall for the next two-year state budget. The final return…

15 proposals submitted for new ABC HQ, warehouse

Decisions on the project may determine the fate of the state agency's site near The Diamond - and potentially the future of baseball in the city…

Rep. Scott Taylor seeking Public-Private Partnership for VA Medical Center in Virginia Beach

Rep. Scott Taylor is working with Virginia Beach officials and the federal Veteran Affairs Department to press for a public-private partnership to build a massive VA outpatient clinic near other medical facilities in…

Virginia Beach gives arena developer 2 more months to close a loan for the project

City Manager Dave Hansen on Tuesday gave the developer of a proposed arena more time to close on a loan after it asked for an extension. The new date to secure financing would be Nov. 6. The developer’s request comes before its September deadline…

Bond sale allows city to repay schools, obtain emergency vehicles

The sale was helped by Virginia’s state aid intercept program, which allowed the bonds to be given an “A” rating, contrary to the city’s financial status. The state aid intercept allows localities to present a sort of back-up plan to investors when the bonds are sold. Given the city’s poor financial situation…

Franklin County looks at ways to improve broadband coverage in rural locality

The Franklin County Board of Supervisors expressed its interest Tuesday in creating a broadband authority. While board members said they don’t feel the county should become a full-fledged broadband internet service provider, they acknowledged creating an authority might be the best vehicle for…

Pittsylvania County cites federal law in pipeline zoning issues

The Pittsylvania County Board of Supervisors discussed the legal wrangling relating to permits for the Mountain Valley Pipeline, which will cut across part of the area and end in Chatham, during a work session Tuesday evening…

Bristol Virginia schools explore using mall for technical school

Bristol Virginia school officials are considering turning the vacant Bristol Mall into a career and technical school, Superintendent Keith Perrigan said Tuesday…

Performance on State Standards of Learning tests hold steady across the State; Richmond results 'unacceptable'

Student performance on state Standards of Learning tests held relatively flat across the state and region last year, with Richmond Public Schools remaining among the worst-performing divisions in Virginia. Data released Tuesday…

School modernization charter change to appear on Richmond ballot

City leaders may not be able to defer the question of what to do to about Richmond Public Schools’ deteriorating facilities for much longer. A Richmond Circuit Court judge on Tuesday ordered that…

Makee is the GOP replacement in Virginia House District 2

He doesn’t have big political aspirations, but he stepped up to be the GOP’s man in a pinch. Michael Makee (pronounced Mackie) retired as Naval Commander after 20 years and is the Republican replacement candidate in Virginia’s House District 2…

Former Virginia banker to become chairman at Wells Fargo

Former Virginia banker Elizabeth A. “Betsy” Duke will become chairwoman of Wells Fargo & Co. effective Jan. 1, making her the first woman to hold the position at a major Wall Street bank…

EPA to rewrite toxic waste limits for power plants

The agency said this week that it would rewrite thelimits on pollution from bottom ash, scrubbers and coal gasification plants, signaling a new deregulatory push for the fossil fuel sector…

Cooper vetoes looser rules on water pollution

Gov. Roy Cooper handed down two more vetoes Monday evening, including a plan to loosen water quality rules that also imposes limitations on local governments’ power over landfill permits – the latest in a series of power shifts from local to state government…

Generic Lobby can't block Drug Price-Gouging law, Md. says

Maryland officials said Monday the generic-drug industry’s top trade group can’t block a new state law authorizing fines against drugmakers that engage in “price gouging,” arguing the law is…

Gov. Eric Holcomb rolls out $24 million job training initiative

Indiana Gov. Eric Holcomb is rolling out a jobs program that will pay tuition for workers who get trained in high-demand fields. The “Next Level Jobs” initiativesets aside about $24 million over the next two years to help grow the number of…

Trade groups call on U.S. to investigate CSX rail disruptions

Dozens of U.S. trade groups have asked federal rail regulators to investigate CSX Corp's "chronic service failures," saying problems at No. 3 U.S. railroad have rippled across the North American rail network, according…

Trump signs Order to speed infrastructure construction

President Donald Trump said Tuesday he has signed a new executive order intended to make more efficient the federal permitting process for construction of transportation, water and other infrastructure projects without harming the environment…

Slow growth for State Personal Income persists in 2017

One of the longest U.S. economic expansions has lifted personal income in all states above pre-recession levels. But growth has varied, ranging from a constant annual rate of…

Should we subsidize manufacturing?

In the auto-industry bailout of 2009, the United States loaned around eighty billion dollars to G.M. and Chrysler, saving an estimated one and a half million jobs. Since then, $70.5 billion has been repaid—meaning that…

Schapiro: Charlottesville narrows Gillespie’s path to Richmond

This is not the first election for Virginia governor defined by ugly racial tension, menacing displays of force and laments over disputed declarations by politicians. But it could be the second time in 60 years that such events align to cost the Republican nominee the election…

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