The U.S. Army Corps of Engineers
has recommended that Craney Island in Hampton Roads
be expanded to provide
room for a marine terminal. The corps estimated that
expansion would cost $600 million. The Virginia
Port Authority says that, without the construction of the
additional terminal, Hampton Roads would reach its limit
for container cargo by 2011. The port’s fortunes
were the focus of a cover story in the September
issue.
The stock price of Amerigroup
Corp. dropped 42 percent on Sept. 29 after the company
announced that it expects
to post a loss for the third quarter. CEO Jeffrey McWaters
said the loss would reflect additional medical costs
incurred in the first two quarters that the company had
not accounted for. Analysts had expected the company
to report net income of 48 cents a share. Amerigroup,
based in Virginia Beach, provides managed-care health
programs for the poor. The company was featured in September’s
issue.
