Industries

Hampton Roads—For the Record

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E&E Enterprise Global Inc., a Hampton-based telecommunications company, was ranked 569th of 5,000 firms on Inc. magazine’s list of fastest-growing private

firms in the U.S. E&E’s 573 percent growth rate earned it the 19th spot among the top 100 telecommunications companies. (News release)

JEMM Industries Inc., a Chesapeake-based sandblasting and maritime painting company, closed after losing its credit line, with a loss of up to 70 jobs. The

company owed more than $2 million on its credit line and other bank debt. Because of bank liens, there probably won’t be enough assets to cover what the

company’s employees are owed. (The Virginian-Pilot)

Members of United Steelworkers of America approved a new contract with Northrop Grumman Shipbuilding in a 945-833 vote. The pact affects about 8,000 hourly

workers in the Newport News shipyard through March 10, 2013. The deal allows for annual wage increases of 3.75 to 4 percent for four years, improvements to

the pension plan and paid sick time and personal leave. (The Virginian-Pilot)

Frank Sheffer, an accountant with substantial holdings in downtown Suffolk, sold 79 properties to developers Eric Menden and George Hranowsky for $4.7

million. The properties are mostly residential rental assets with a number of commercial properties. Menden and Hranowsky have holdings all over South

Hampton Roads, but this is their first deal in Suffolk. The two have an option on one of Sheffer’s last remaining properties, the National Bank Building.

(The Virginian-Pilot)

Smithfield Foods Inc. reached an agreement with the United Food and Commercial Workers in its extortion suit against the union. The company will hold a third

election at its largest plant, in Tar Heel, N.C., to determine whether workers want to have a union. The union agreed to cease its attack on Smithfield,

which included protests and calls for a boycott. (The Virginian-Pilot)

The Virginia Resources Authority issued $188 million in bonds for upgrades in local sewage treatment plants to eliminate more nitrogen polluting of the

Chesapeake Bay. These funds are in addition to $660 million already committed to reduction of nitrogen from sewage plants and industrial facilities. (Daily

Press)


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