Cheat Sheet: October 15, 2012

Virginia Living Museum struggling to stay open

Following several years of large operating deficits, the Virginia Living Museum in Newport News is struggling to stay open. According to Executive Director Page Hayhurst, the Newport News museum has depleted its $2 million reserve fund. The remaining $400,000 in reserves could be exhausted by the end of the fiscal year on June 30, 2013. If they can’t obtain the funding, layoffs would be unavoidable in 2012-2014. Of course, cutting the staff would hurt the museum’s revenue by not being able to produce as many programs. A committee is being formed to go over the options. (Source)

Developer gets 14 years for fraud schemes

In Norfolk, George Hranowskyj was sentenced today to 14 years in federal prison after admitting his role in two financial schemes that contributed to the collapse of Bank of the Commonwealth. Hranowskyj, a 48-year-old real estate developer and one-time owner of the Wainwright building, was sentenced to three years below the minimum that prosecutors had asked for but three years above what his attorney had requested. Eric Menden, his former business partner, was sentenced two weeks ago to 11 ½ years in prison after pleading guilty to similar charges. Because he had been cooperating with the authorities for nearly a year before Hranowskyk had, he got less time. “I am humiliated and embarrassed and disgusted with myself,” Hranowskyj said, as he apologized to his family and the community. (Source)

FDA: Other drugs may be linked to meningitis outbreak

Health officials have now broadened their warning to doctors to include other medicines made by a specialty pharmacy linked to a meningitis outbreak. On Monday, the Food and Drug Administration took the step because of reports of new illnesses that may be tied to other products made by the New England Compounding Center of Framingham, Mass. Health officials want doctors to contact the patients who got any injection made by this company and warn them of the risk of infection. This rare fungal form of meningitis has killed 15. The reports include a patient who got another company steroid and fungal infections in two heart transplant patients. (Source)

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