Hotel owners switch focus to residential
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Hit hard by the economic effects of the coronavirus, the hotel industry isn’t expected to fully recover until until 2023 or 2024. Meanwhile, several hotel properties, including two in Northern Virginia, are being redeveloped into more profitable residential units. Sunburst Hospitality won approval in October 2020 to convert the 187-unit Arlington Court Suites Hotel into
Downtown Buena Vista buildings go to auction
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Updated Oct. 29 Some things just don’t work out as planned, but that doesn’t mean it’s the end. Roanoke developer Ed Walker purchased 16 properties in downtown Buena Vista for $1.3 million during 2017 and 2018, with a plan to revitalize the small city nestled in the Blue Ridge Mountains just southeast of Lexington. Walker
Nothing to complain about
Average Va. CEO pay fell in 2019, but the top earner still made $21.37 million
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Virginia’s top-paid CEOs brought home an average total compensation of $6.68 million each in 2019. That’s not too shabby, considering their average annual base salary was $900,218. Conducted by Redwood City, California-based executive compensation firm Equilar, Virginia Business’ most recent top executive pay report examined the earnings of 50 CEOs from 49 public companies with
Blurred lines?
Banks accuse credit unions of unfairly encroaching on their territory
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The battle between banks and credit unions is flaring up again and it could wind up before the Supreme Court of Virginia. Bankers say nonprofit credit unions are morphing into roles that look like traditional banks, becoming larger than many community banks while facing lighter tax and regulatory burdens, giving the credit unions an unfair
They say they want an evolution
CPA exam is changing to adapt to digital era
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Forget the CPA number nerds of the past with pencil marks on their starched white shirts. Tomorrow’s CPAs will be better versed in information technology, analysis and problem-solving techniques. An evolution is taking place in the accounting industry to enhance analytical and critical thinking skills among future certified public accountants. The shift focuses on putting
Walking out the door
Law firms grapple with gender equality
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During her 13 years of practicing law, Christy L. Murphy has been called “honey” and “sweetie” by older men when they were adversaries in legal cases. “This is an old boys’ network,” says Murphy, 40, a partner at Bischoff Martingayle in Norfolk. “It’s hard to get people out of the mindset.” Law firms are modernizing
