Top local business stories of the year [Richmond Times-Dispatch, Va.]
|By John Reid Blackwell, Richmond Times-Dispatch, Va.|
|McClatchy-Tribune Information Services|
At a time when many companies are reluctant to expand or are even cutting back on jobs,
The company, which started in 2009 with just a handful of employees in a small office in the
HDL provides diagnostic testing to detect early risk factors for such conditions as cardiovascular disease and diabetes, and it provides patient counseling to prevent those conditions. The company's growth has been linked to rising demand for preventative health measures.
In March, construction crews started to tear down the BioTech 3 building in the research park in downtown
By December, the first building was well under way; plans are to start the second in 2013.
"Our sign is up on the building," said
In 2012, HDL also expanded internationally, with a sales organization in
It was one of
Construction on each of the 1 million-square-foot centers in
"It was a wooded area," at the start of 2012, said
By early October, the distribution centers shipped their first products. By the time the holiday shopping season came around, the two centers employed a combined total of more than 1,000 full-time and seasonal workers.
"It's a shot in the arm for the local economy," said
"We have definitely had a lot more prospect activity," she said, just because of the name recognition of
In February, the
That deal, which was completed in late June, was just one of a handful of newspaper acquisitions for
Buffett, a former newspaper delivery boy, said in an interview with
"Newspapers will be around," Buffett said. "It won't be like the old days, but they will be around."
The sale of the newspapers was a difficult one for
"It is a very bittersweet day," Bryan said when the deal was announced in May. "My head says well done, while my heart is crying."
The former head of the
Ferguson, in a statement then, said he deeply regretted his conduct and apologized to banks for his actions and to his family for disappointing them.
He was formally charged
Ferguson, in a statement of facts, admitted that he lied on personal financial statements submitted to banks from 2006 through 2009, claiming he had
Prosecutors said he knew he had no deferred compensation since 1998 and had not owned
Relying on information supplied by him,
He and his wife,
The couple listed liabilities of
Her father founded Mercer Rug Cleansing in
Their house on
"The trustee is gathering the proceeds from the estate and art sales," said
"The bottom line is the banks have recovered a substantial amount of what is owed them through the sale of corporate assets, which includes commercial real estate and the Mercer Rug company," Terry said.
"The Fergusons voluntarily initiated the corporate bankruptcies which brought about those payments to the banks."
Change of leadership at
After four years as chairman and chief executive officer of
Szymanczyk had previously served 12 years as president and CEO of its Philip Morris
Stepping into the top leadership role for
Szymanczyk's tenure at
At the same time, the company was adjusting to a new reality as the U.S. tobacco industry became regulated by the federal
"Basically, they had to transition into a new company that was going to be somewhat regulated, and at the same time be able to grow earnings and cash flow going into the future," said
"I think he was successful," Marascia said of Szymanczyk. "Earnings have increased every year since he has been running the company. They have been raising dividends and the stock price has appreciated as well."
For Barrington, the challenges include continuing to steer the company through an ocean of smoking-related lawsuits while also managing its business under
"More importantly, he has got to find a way to transition the company during a period when U.S .cigarette consumption is declining about 4 percent a year," Marascia said. While they are cutting costs to counter the decline in cigarette revenues, you can only cut costs for so long. The question then becomes how they are going to grow revenues in the future."
The mortgage market crisis continued to haunt
Fraizer had been chairman, president and chief executive officer of
This month, the company named longtime insurance industry executive
(c)2012 the Richmond Times-Dispatch (Richmond, Va.)
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