Economy and Economics

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Virginia’s two big electric companies will escape state regulation of their base rates for up to eight years under a bill which caught opponents by surprise – a measure just approved by the Virginia House.   Its sponsor promised a rate freeze for consumers, but your bill could still be going up.

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Faced with a budget shortfall, state legislators are eyeing a very large piggy bank - the unclaimed cash of Virginia residents being held by the Treasury. About $1.7 billion dollars - that’s billion with a B - is awaiting a call from the rightful owners. 

Benjamin Jarvela looks nothing like Santa Claus, but he hopes to give Virginians lots of presents this year.  As spokesman for the state’s treasury, he says one in four people has a forgotten utility deposit or some other money in Richmond, waiting to be claimed. 

Piedmont Court Appointed Special Advocates

Sixteen percent of children in Virginia live in poverty, and one in four families is considered working poor.  They’re in contact with teachers and principals, social workers and psychologists, and in some cases, police and judges, but those professionals may not understand what it means to be poor.

Families with two kids who earn less than $24,000 a year fall below the poverty line, and with that comes some unique challenges.  Alicia Lenahan is president of Piedmont CASA, a group that advocates for abused and neglected children in court.

There’s good news from the Governor and the heads of the General Assembly’s money committees. Despite dealing earlier with a significant revenue shortfall, the state is now seeing a $338-million revenue bump from withholding through corporate income tax and insurance premiums.

It amounts to $162 million more over the biennium after a $176 million  deposit into the Rainy Day Fund. Governor McAuliffe says it provides a little extra money to spend as the budget is crafted.

Norfolk Southern Jobs Move to Norfolk or Atlanta

Jan 28, 2015
Norfolk Southern Corporation

Norfolk Southern is closing its office building in downtown Roanoke, affecting 500 employees. 

Norfolk Southern Spokesman Robin Chapman says employees were informed Tuesday morning. .

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