Industries

For the record - Northern Virginia

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Cuisine Solutions, an Alexandria-based provider of frozen food products, announced plans to stop trading its common stock. The company cited cost factors related to Sarbanes-Oxley and a desire to focus on long-term stock value. The board proposed a 1-for-5,000 reverse stock split to reduce the number of shareholders to fewer than 300. (The Washington Post)

Deltek Inc., a Herndon technology company, issued 20 million shares of common stock at $3 per share. With the rights offering and existing cash balances, the company has $100 million in cash for its operations. (Business Wire)

The Fairfax County Board of Supervisors has asked its county executive to investigate the benefits of turning the county into a city. The switch would require a countywide referendum. City status would give the county more control over its roads and greater taxing powers. (The Washington Post)

Grant Thornton, a global accounting firm based in Chicago, partnered with the George Mason University School of Management to fund a Grant Thornton Faculty Fellowship for a three-year term. The fellowship will help the school recruit and retain top accounting faculty. (News release)

GTSI Corp., a Herndon IT company, announced a stock repurchase program over the next two years not to exceed $5 million. The board authorized the move based on the company’s improving results. (Business Wire)


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