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I thought they wanted to build on their relationship with Norfolk? This is a smack in the face to the HR community! The next thing to come will be the sale of the building I'm sure. It always amazes me how Norfolk Southern and other large local companies feel the need to outsource their jobs to other cities. Maybe Atlanta gave them money to relocate? Where has the sense of community obligation gone too? You should consider this as treasonous. I hope the VA Pilot asks these questions of those in charge.

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Ok, some clarification. We may be getting a little ahead of ourselves. Dominion Enterprises is owned by Landmark and they are staying put so far (until landmark decides whether they are going to sell them or not). Cox Auto trader is the spinoff portion which is of course still owned by Cox. Bad news, we're still losing 220 jobs from downtown. Good news, this doesn't seem to be the nuclear option we had feared (yet).

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This is from an article from a few years back.

Trader Publishing was booming, Hall said. It had grown from 1,200 employees in its early years to more than 10,000, working in 346 offices.

So why the break up?

Batten said he had concerns that its automotive classified component was "almost exclusively print." Cox was the majority owner of AutoTrader.com, an Internet automotive classified business. So it made sense for Cox to put those pieces together.

Dominion Enterprises ended up with most of Trader's other parts in what Hall called perhaps "the most complicated legal transaction in the city's history."

Dominion now has more than 6,600 employees working in 250 offices in 38 states. It owns more than 500 paid and free magazines, with a total weekly circulation of about 6 million.

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This is just the beginnings of a pull out, I've seen it before. This is just a shot across the bow and they will be looking for more money to stop the bleeding. The Norfolk city council has a tough decision to make. Give money to keep them or let them go and risk lossing more money in the long term. These people are ruthless!

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  • 8 months later...

I was thinking bout this as i drove past it, but in a way, we really lucked out with the Ford plant closing down when it did, IMO. With Ford and the other car companies tanking right now, we almost certainly would lose the plant now if we hadn't then. But by absorbing the work force into the area while the economy was stable, it's been an easier transition that to do so had we been forced to in the current economic climate. While the outcome is still unfortunate, we're better off with the way it happened, i believe...any thoughts?

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Remember that Auto Trader is not Dominion Enterprises. Auto Trader should be across the street, and there was talk of Auto Trader shutting down for a while.

I know a number of people looking for tech jobs after recent layoffs, and from what I understand Dominion was hiring. Mixed reviews regarding working there. One of the stories was pretty harsh. I can't tell what company is what before the split, so the earlier reviews are hard to judge because I'm not sure if they hated working at Auto Trader or Dominion. Dominion was profitable, but as most Hampton Roads companies I don't think the profits ever make their way to the people that do the work, just end up in the pockets of Battens or what have you. (That is a big difference between west coast and east coast. West coast, company does well, young people get money, young people start new companies or invest with other young people starting things. This is the story behind things like Facebook, Youtube, and many others. In Hampton Roads whoever makes money holds onto it, and there are very few young companies that don't revolve around rims, car stereos, jewelery in the mall, or sucking money off the gov't).

And there has been layoffs at Dominion .. in 08. Some divisions do well, some don't AFAIK.

Not sure what the turnover is there either.

Kind of a fascinating place.

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I was thinking bout this as i drove past it, but in a way, we really lucked out with the Ford plant closing down when it did, IMO. With Ford and the other car companies tanking right now, we almost certainly would lose the plant now if we hadn't then. But by absorbing the work force into the area while the economy was stable, it's been an easier transition that to do so had we been forced to in the current economic climate. While the outcome is still unfortunate, we're better off with the way it happened, i believe...any thoughts?
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From Inside Biz (5 Jan) regarding Gateway Bank. Applies to either Norfolk or VB threads.

"The big decision will be what to call such a bank, with a footprint that covers Hampton Roads, the Delmarva Peninsula, Richmond, Raleigh and Northeastern North Carolina including the Outer Banks.

'Banks want to identify with the market they are in or the uniqueness of their service and we all offer pretty much the same products,' Gibson said. 'So it's a little difficult to be creative sometimes.'

What Gibson calls 'facilities issues' will also have to be worked out. But even he knows the only facility everyone is wondering about is Gateway Tower, the proposed development at Virginia Beach's Town Center, for which Gateway purchased naming rights in March.

Bank of Hampton Roads already has its name atop Norfolk's tallest building, Dominion Tower, leaving many to wonder whether Gibson, a man who once said size doesn't matter, wants his company to be the namesake of a second skyscraper.

'I guess we could have one at each end of town,' Gibson said. 'It will give people driving from Norfolk to the Beach something to look at I suppose.'"

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  • 7 months later...

http://www.insidebiz.com/ME2/dirmod.asp?si...135768426CB1444

A startup biotech firm that recently set up shop in Norfolk has its sights set on tackling diabetes, a condition that costs the health care system about $174 billion annually and has what the company believes is a $13 billion unmet target market.

DiaKine Therapeutics also has its sights set on local investors to help combat the recession and fund the next crucial phase of its local research en route to its ultimate goal of a big money deal with a big pharmaceutical company.

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