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Supreme Court 5 4 Kelo v. City of New London, Conn., decision that held as constitutional that the rightful property of one American can be taken and transferred to another American so long as some public purpose is served. Constitution states, “Nor shall private property be taken for public use, without just compensation.” The key term is “public use,” not “public purpose.” That means that the powers of eminent domain can be used only to take property, with just compensation, to build public projects such as roads, forts or schools.
ARTICLES BY DATEOn the move Hampton Roads business people news
July 15, 2011
Nonprofits Dr. William P. Magee Jr. was appointed executive chairman and Howard J. Unger was appointed chief executive officer of Operation Smile , an international children’s medical charity based in Norfolk. Kathleen S. Magee will continue as president. The Magees founded Operation Smile in 1982. Unger has been affiliated with the charity since 1986. The elevation in position for both reflects Operation Smile’s ongoing expansion of surgical delivery and sustainable comprehensive care services for children born with facial deformities such as cleft lip and cleft palate.
Bb Buy Shifts Banking Clout Out Of State
By SARAH SUE INGRAM Daily Press January 22, 2003
BB Corp. said Tuesday that it planned to purchase First Virginia Banks Inc. the commonwealth’s largest and oldest independent bank in a $3.38 billion stock swap. The merger would create the country’s 11th largest financial institution. The merger would boost BB assets to more than $91 billion and move BB from fifth to second place in Virginia market share, behind only Wachovia Bank and Trust Co. First Virginia has assets of $11.2 billion. Deborah DiCroce, TCC’s president, and Gerald S. Divaris, chairman and CEO of Divaris Real Estate Inc., will discuss the new school,
designed to attract students from major retailers who will learn about management, stock control, accounting, public relations and customer service. said Wednesday its earnings jumped 19 percent during the third quarter of 1994 compared with the third quarter of 1993. Earnings during the period hit $168.3 million, or $1.24 a share, on revenues of $1.17 billion. That compared with earnings of $141.4 million, or $1.02 cents a share, in the third quarter of 1993. BB FINANCIAL CORP., which in June announced it planned to buy Virginia Beach based Commerce Bank, Wednesday declared a quarterly dividend of 29 cents a share, to be paid Dec. 15 to shareholders of record as of Dec. 1. SOLOMON Daily Press April 22, 1994
Commerce Bank announced Thursday it had agreed to sell up to $12 million of a new class of preferred stock to North Carolina’s fourth largest bank, Wilson based BB Commerce announced the stock sale along with its first quarter earnings, which increased 17 percent to $1.76 million, or 60 cents a share. But BB move Tuesday to acquire First Virginia Bank is threatening that. From BB parking lot, the First Virginia branch is a mere 100 yards away a football field’s distance separating the only two banks in the town and this county of 6,800. How long they both will last is a matter of deep apprehension in Surry. BB officials already have said 120 branches would close if its $3.38 billion merger with First Virginia wraps up as expected in September.