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RiverYuppy Whistle-Stop

RiverYuppy

Posted
Posted (edited)

Henrico-based Altria is in talks with Philip Morris International on possible 'merger of equals'

 

The newly formed company would have a combined market cap of over $200 billion dollars. 

For reference, Dominion's market cap is currently $63 billion. 

I would love to see moving the HQ of the new combined company into a new tower downtown!

Edited by RiverYuppy
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RVA-Is-The-Best Burg

RVA-Is-The-Best

Posted
Posted
23 minutes ago, RiverYuppy said:

Henrico-based Altria is in talks with Philip Morris International on possible 'merger of equals'

 

The newly formed company would have a combined market cap of over $200 billion dollars. 

For reference, Dominion's market cap is currently $63 billion. 

I would love to see moving the HQ of the new combined company into a new tower downtown!

I'm pretty sure PMI is HQed in NYC. So most likely Altria will be absorbed as it is the smaller company and the HQ will be kept in NYC, unfortunately

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RiverYuppy Whistle-Stop

RiverYuppy

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34 minutes ago, RVA-Is-The-Best said:

I'm pretty sure PMI is HQed in NYC. So most likely Altria will be absorbed as it is the smaller company and the HQ will be kept in NYC, unfortunately

PMI is actually headquartered in Switzerland.  They're just incorporated in NYC. 

Also Altria was originally HQed in NYC and moved to RVA.

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eandslee City

eandslee

Posted
Posted
1 hour ago, RiverYuppy said:

Henrico-based Altria is in talks with Philip Morris International on possible 'merger of equals'

 

The newly formed company would have a combined market cap of over $200 billion dollars. 

For reference, Dominion's market cap is currently $63 billion. 

I would love to see moving the HQ of the new combined company into a new tower downtown!

Love where you’re going with this!!  Would be a nice dream come true!!

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wrldcoupe4 Metropolitan Area

wrldcoupe4

Posted
Posted
1 hour ago, RiverYuppy said:

Henrico-based Altria is in talks with Philip Morris International on possible 'merger of equals'

 

The newly formed company would have a combined market cap of over $200 billion dollars. 

For reference, Dominion's market cap is currently $63 billion. 

I would love to see moving the HQ of the new combined company into a new tower downtown!

Altria is currently expanding its HQ. No chance they go downtown. 

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wrldcoupe4 Metropolitan Area

wrldcoupe4

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That's true, but I just don't see it happening. They are clearly executing on a vision. First acquiring their campus from UofR and then commencing a major expansion, renovation, and structured parking and consolidating staff to this location. As an executive, it would surely be fun to explain to your shareholders why you just spent so much capital on such an effort, only to spend even more capital on doing the same thing all over again in a different place that just added a cigarette tax. It happens, I'm just saying I wouldn't stay up hoping Santa brought this present to on Christmas.

Edited by wrldcoupe4
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jbjust Burg

jbjust

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14 hours ago, wrldcoupe4 said:

That's true, but I just don't see it happening. They are clearly executing on a vision. First acquiring their campus from UofR and then commencing a major expansion, renovation, and structured parking and consolidating staff to this location. As an executive, it would surely be fun to explain to your shareholders why you just spent so much capital on such an effort, only to spend even more capital on doing the same thing all over again in a different place that just added a cigarette tax. It happens, I'm just saying I wouldn't stay up hoping Santa brought this present to on Christmas.

They could find a developer to build the building and just charge them rent, even as the sole tenant.  Could end up cash-flow positive short term. 

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wrldcoupe4 Metropolitan Area

wrldcoupe4

Posted
Posted
On 8/27/2019 at 12:06 PM, RiverYuppy said:

Henrico-based Altria is in talks with Philip Morris International on possible 'merger of equals'

 

The newly formed company would have a combined market cap of over $200 billion dollars. 

For reference, Dominion's market cap is currently $63 billion. 

I would love to see moving the HQ of the new combined company into a new tower downtown!

And the talks are off.

https://www.richmond.com/business/altria-group-and-philip-morris-international-end-merger-talks/article_019c36c9-f550-5217-b855-94232373283c.html

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Icetera Burg

Icetera

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2 hours ago, Hike said:

Does anyone else have issues with Richmond Bizsense today, site not opening  this morning? 

Yesterday I had a permission request from Bizsense to allow notifications, said yes stupidly, then adds in Chinese were showing up, today I changed it to no notifications and now no access to the website.  Asked my wife is she could get on the website, different computer and she has no access either so wonder what others may see.

Has been fine for me from around 08:30 to now.  I have not tried mobile, though.

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Shakman Burg

Shakman

Posted
Posted

I would like to see better streetscape:  Decorative and consistent looking LED street lights, properly paved sidewalks without tree roots protruding through, decorative crosswalks, buried utilities,  maintained trees and shrubs, overall better maintenance of infrastructure.  

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RiverYuppy Whistle-Stop

RiverYuppy

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On 10/18/2019 at 1:48 PM, Hike said:

Similar to our new rule, that all projects will now include a tower crane, the other new mandatory requirement is that all projects must now have a webcam. 

Hear, Hear!

Failure to adhere to any of these requirements will result in the penalty of no less than one additional story added to the project. 

Edited by RiverYuppy
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RiverYuppy Whistle-Stop

RiverYuppy

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Bank grabs more space in James Center.

Not exactly big news, but it's good to see a continual consolidation of employment downtown.  Last year we saw a ton of companies move from Chesterfield to Scotts Addition.  Also Carmax is planning on expanding its footprint in the city.  I hope we see this trend continue. 

It's these types of moves that create demand for more towers downtown.  

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Henrico Weather Unincorporated Area

Henrico Weather

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Went to Winston-Salem last week, and found I am extremely jealous of their Wells Fargo Center building. I wish we had something that distinctive on our skyline. The way it was lit at night made it look even more striking. Sure beats boxes.

https://www.tradeandindustrydev.com/region/north-carolina/winston-salem-forsyth-county-11283

Compare:

Wells Fargo Center 34 floors, 460 feet

James Monroe Bldg 29 floors, 449 feet

New Dominion Tower 20 floors, 417 feet

Federal Reserve 26 floors, 394 feet

Winston-Salem center city population is just a little larger than Richmond's (244,605 vs 227,032), but Richmond's metro population is much larger (1,263,617 vs 676,673). Seems like we should be able to support something bigger than Winston-Salem. But, I know, preaching to the choir.....

 

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benstyree Unincorporated Area

benstyree

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Posted (edited)
38 minutes ago, Henrico Weather said:

Went to Winston-Salem last week, and found I am extremely jealous of their Wells Fargo Center building. I wish we had something that distinctive on our skyline. The way it was lit at night made it look even more striking. Sure beats boxes.

https://www.tradeandindustrydev.com/region/north-carolina/winston-salem-forsyth-county-11283

Compare:

Wells Fargo Center 34 floors, 460 feet

James Monroe Bldg 29 floors, 449 feet

New Dominion Tower 20 floors, 417 feet

Federal Reserve 26 floors, 394 feet

Winston-Salem center city population is just a little larger than Richmond's (244,605 vs 227,032), but Richmond's metro population is much larger (1,263,617 vs 676,673). Seems like we should be able to support something bigger than Winston-Salem. But, I know, preaching to the choir.....

 

 

I went to school in Winston-Salem for a few years and I recall most locals having a less complimentary name for that building...

Edited by benstyree
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jtmonk Hamlet

jtmonk

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Posted

I do love that building, I pass by it everyday heading to work.  With that said, Richmond has some killer density and neighborhoods that I would gladly give that building up for.  Love both cities, both have great qualities.  Enjoy seeing everything you guys have going on in your city, continue the good work!

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Henrico Weather Unincorporated Area

Henrico Weather

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Posted (edited)

Arby's closing their location in Three James Center due to remodeling of the atrium area. Just a chain, but having worked down in that part of town, it was always good to have this option if you needed something quick and reasonably tasteful. For the number of folks that work in that area, there  are very few options for a quick lunch.

https://wtvr.com/2019/11/04/james-center-arbys-bizsense/

james-center-3.jpg?quality=85&strip=all&

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Brent114 Burg

Brent114

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Posted

I’m sad to see this go.  I always enjoyed eating lunch there.  There really aren’t many options other than food carts for  a quick lunch (majority of downtown workers aren’t executives with an hour lunch and French bistro budget).   I personally have zero interest in eating at an upscale restaurant inside the James Center.  Fast food (and at most fast casual) makes more sense to me.   Hope it works out.  I was in the James Center a few days ago.  It’s pretty bleak. 

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Icetera Burg

Icetera

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Posted
3 hours ago, Brent114 said:

I’m sad to see this go.  I always enjoyed eating lunch there.  There really aren’t many options other than food carts for  a quick lunch (majority of downtown workers aren’t executives with an hour lunch and French bistro budget).   I personally have zero interest in eating at an upscale restaurant inside the James Center.  Fast food (and at most fast casual) makes more sense to me.   Hope it works out.  I was in the James Center a few days ago.  It’s pretty bleak. 

Exactly.  Given the lack of quick food options in Navy Hill, I used to regularly wander down to Wendy's or Arby's in James Center (or Jo Jo's near SunTrust for a tasty grinder).  Also of note, the Arby's franchises in our region are a bit unique compared to what the rest of the nation sees.

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