Business News & Notes

By Sally Cole

Washingtonian magazine is soliciting input for its July Best and Worst issue. They are seeking the nominations for the best businesses in several restaurant categories as well as the best clothing stores and computer repair business. To see a full listing of categories, which also includes the best newspaper columnist and/or to place your nominations go to www.washingtonian.com. Submissions are due May 1, 2006.

The Virginia Peninsula chapter of 100 Black Men has named Benjamin B. Hankins, Jr., President and CEO of Falls Church-based Axiom Resource Management, Inc., as their 2006 Role Model of the Year. Hankins, founded Axiom Resource Management, Inc., in 1996. The firm, which provides management consulting support for the federal government, employs more than 500 people and has annual revenues exceeding $58 million. Axiom has been named one of the "55 Great Places to Work in Washington " by Washingtonian magazine and one of the "Top 50 Technology Employers in Washington " by Washington Business Journal. For more information go to: http://www.axiom-rm.com/.

Commerce Bank is honoring Helene Safford, Chair of the Greater Falls Church Chamber of Commerce and owner of Clay Café Studios and The Studio Resource as a Hometown Hero at their April 29, 2006 Seven Corners Kids’ Fair. Safford, winner of the Falls Church City’s 2005 Business Person of the Year Award, is well known in the Falls Church area for her support of local charitable organizations and of the local business community. The event, scheduled from 10:00 a.m. to 2:00 p.m. at the corner of Arlington Boulevard and Patrick Henry Drive in Falls Church, will include free food and entertainment, a fire truck, fire safety tips, give-aways, a raffle to win a new bicycle and more! The Hometown Hero presentation will take place at noon.

Falls Church Arts’Gallery Without Walls is a unique program that places local art in local businesses. Currently on display: Oil paintings by Kate Flanagan at the Falls Church Housing Corporation ( new location at 330B South Virginia Avenue); watercolors by Kay Flanagan at First Horizon Bank; images of hard-to-reach locales by Colby Loucks at Burke & Herbert Bank & Trust Company; “Portraits of Youth” byBill Abel at Capital Area Pediatrics; and colorful photography by Edward Greenstein at The Broad Street Grill. For more information on Falls Church Arts or its Gallery Without Walls program visit www.fallschurcharts.org.

The Falls Church Business in Education Partnership invites business leaders to exhibit at the George Mason High School Career Expo on Wednesday, May 3 from 3:00-5:00 in the Mustang Cafe. This is a great opportunity to share information about your career and career path. Please contact Marybeth Connelly at ConnellyM@fccps.org by Thursday, April 27 if you are interested in exhibiting.

First Horizon has joined The Young Group and the Falls Church News-Press as a Partner of the Greater Falls Church Chamber of Commerce. Gold Sponsors include Clay Café Studios, Nova-Habitat, Point of View, and Venable LLP. Silver sponsors include Burke & Herbert Bank & Trust, Diener & Associates, FallsChurchAnimalHospital, and Miniatures from the Attic while Bronze Sponsors include Oshinsky Family Limited Partnership and Mark Werblood of Tesler & Werblood.

General Dynamics reported 2006 first-quarter revenues of $5.6 billion, reflecting a 16 percent increase over 2005 first-quarter revenues of $4.8 billion. Net earnings in the 2006 first quarter were $374 million, or $0.92 per share on a fully diluted basis, compared to first-quarter 2005 net earnings of $336 million, or $0.83 per share fully diluted, a per-share increase of 10.8 percent. (All per-share data has been adjusted to reflect a two-for-one stock split that occurred March 24, 2006.) Net cash provided by operating activities was $465 million for the quarter. Free cash flow from operations, defined as net cash provided by operating activities less capital expenditures, was $406 million. General Dynamics, headquartered in Falls Church, Virginia, employs approximately 72,700 people worldwide. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and business aviation.

Jos. A. Bank Clothier is celebrating its 101 st Anniversary this month. The Falls Church location was the 4 th store developed in this chain of more than 300 retail locations known for their high quality men’s clothing, reasonable prices and expert sales staff. To celebrate this milestone, Jos. A. Bank is providing discounts of 20 – 50% selected apparel through the end of April. There are 12 Jos. A. Bank stores throughout Northern Virginia including the Falls Church location in Loehman’s Plaza located at 7259 Arlington Boulevard (Rte 50), Falls Church, VA. For more locations and information go to: http://www.josbank.com.

The date of the Point of View Eyewear hosted Greater Falls Church Chamber of Commerce Networking Mixer was changed to Tuesday, May 2, 2006 from 5:30 – 7:00 p.m. Refreshments will be provided along with the chance to see their fine selection of fashion eyewear and sunglasses.This is a great free event to get to know the Falls Church business community.

Falls Church-based Spence Hill Associates announced today that it has arranged a $3.5 million permanent, first mortgage loan for Day Hill Village Shoppes, a retail center located in Windsor, Connecticut. Michael H. Trauberman, Managing Director of Spence Hill Associates, negotiated the transaction on behalf of the borrower and placed the loan with Greenwich Capital Financial Products, Inc. The financing was arranged on behalf of an affiliate of Rieger Enterprises of Purchase, New York and an affiliate of Rubi Associates, LLC of Avon, Connecticut. A portion of the proceeds of the loan was used to defease an existing loan secured by the property. Day Hill Village Shoppes is a 34,000 square foot retail property located in Windsor, Connecticut, a suburb of Hartford. Spence Hill Associates, a real estate investment banking firm founded in 1993, arranges the financing and sale of commercial real estate, and provides financial advisory services to real estate owners, developers and institutions throughout the United States.

The Virginia General Assembly approved the Back to school “tax holiday” which provides a sales tax exemption, beginning in 2006, for certain school supplies, clothing, and footwear purchased during a three-day period each year beginning on the first Friday in August. The exempt items are each school supply item with a selling price of $20 or less and each article of clothing or footwear with a selling price of $100 or less.