AGP Executive Report

Courts & Finance: A Delaware Chancery judge ruled JPMorgan must keep paying Charlie Javice’s legal bills, rejecting the bank’s bid to stop after it said costs were “astronomical.” Health & Policy: Delaware’s attorney general agreed to a court order permanently blocking enforcement of a 2025 law that required pro-life pregnancy centers to post government-mandated disclaimers. Energy & Business: With a heat dome driving record demand, federal officials ordered data centers and other large users to switch to backup power to protect the grid across the PJM region, including Delaware. Local Government: Lewes adjusted Fourth of July plans, shortening and rerouting the Doo-Dah Parade to reduce heat risk. Tech & Sustainability: Newark-based AirJoule unveiled AirJoule Prime, using waste heat from data centers to pull drinkable water from the air. Cannabis Regulation: Delaware lawmakers overrode Gov. Matt Meyer’s veto of SB 75, limiting counties from imposing overly restrictive rules on legal marijuana shops. Markets: Profusa filed for a 1-for-25 reverse stock split effective July 7.

Higher Ed & Workforce: eHBCU, led by Delaware State University, launched a course-sharing partnership with Acadeum so students can take approved online classes at other member HBCUs without transferring or losing degree progress. Delaware Energy Policy: In the final hours of the 153rd General Assembly, lawmakers approved major rules for large electricity users, including data centers, requiring utility agreements and pushing renewable procurement to meet 100% of annual energy needs by year 10. Extreme Heat Preparedness: Delaware upgraded to an Extreme Heat Warning through July 4, with state agencies urging hydration, limiting outdoor work, and checking on vulnerable residents. Business & Legal: Delaware North rebranded its loyalty and online gaming platforms as Ember, while a Delaware federal judge dismissed a biotech trade-secrets suit over LSD clinical-trial claims for lack of specificity. Finance & Banking: Columbia Financial (Columbia Bank) advanced its conversion to a fully public stock holding company and approved its acquisition of Northfield Bancorp. Local Economy: Blue Rock Financial hosted the Delaware Business Owners Summit in Dewey Beach, raising funds for Children’s Beach House.

Delaware Capital Spending: Delaware lawmakers approved a $1.26 billion Fiscal Year 2027 bond bill (House Bill 500) to fund road work, school construction, deferred maintenance, economic development in Wilmington/Dover/Georgetown, affordable housing, clean water projects, and parks statewide. Heat Relief in Delaware: DHSS opened cooling centers across Delmarva, including state service centers in Newark, Dover, and Georgetown, with extended hours at select libraries and county sites during the heat wave. Healthcare Policy Push: The General Assembly passed major healthcare legislation backed by the Delaware Healthcare Association, including measures on hospital cost transparency, primary care and affordability, hospital worker safety, and limits on private equity acquiring nonprofit acute care hospitals. Business & Legal Moves: UD’s Lerner College appointed Dan Freeman to lead the new Neil Book School of Innovation and Entrepreneurship, effective July 1. Retail Deal Watch: Kroger agreed to buy Giant Eagle in a $1.65 billion cash transaction, with store operations continuing separately until a 2027 close pending regulators. Local Economy & Growth: North American Cricket Club engaged Miller Johnson as outside counsel to support league governance and expansion across the U.S.

State Budget: Gov. Matt Meyer signed Delaware’s FY2027 operating budget into law June 30, with a focus on education (nearly $200M), affordable housing, healthcare, and workforce investments including pay raises for state and public school employees. Legislative Wrap: Lawmakers also pushed through a final-session package of bills, including measures tied to voting rights, firearm dealer oversight, fire company background checks, Rehoboth Beach charter changes, and a new state office for immigrants and new Americans. Public Safety—Heat Response: With a dangerous heat wave expected, Delaware opened cooling centers statewide through July 2, offering air-conditioned spaces and hydration breaks at multiple state service centers. Healthcare Fraud: A Lewes lab owner, Nihar Gala of Alpha Care Medical, and lab director Bo Wang face charges tied to alleged false Medicare/Medicaid diagnostic testing claims. Business/Deals: FMC Corporation agreed to a roughly $400M minority equity investment from Tessenderlo Group, and Delaware’s legal community also flagged new guidance on director duties in company sales under Delaware Revlon standards. Legal/Markets: Delaware-related investor alerts continued, including securities class action notices tied to multiple public companies.

Medicaid Legal Fight: Delaware and other states are suing the Trump administration over new Medicaid work requirements, arguing CMS unlawfully tightened “medically frail” exemptions and could cut off coverage for seriously ill residents. Heat Relief for Delawareans: DHSS opened cooling centers statewide from June 30 through July 2, with multiple locations in Kent, Sussex and New Castle counties, plus extended hours at select sites. Statehouse Watch: Delaware lawmakers are pushing major bills on the final day of session, including voting-rights measures and gun dealer oversight. Local Business & Downtown Growth: Delaware on Main Street expanded to 17 accredited/affiliated downtown organizations, boosting reinvestment and job creation across participating communities. Port & Logistics: The Port of Baltimore opened a double-stack rail corridor through the Howard Street Tunnel after a $495 million upgrade, improving regional shipping capacity. Community & Food Security: Food Bank of Delaware highlighted its volunteer-driven distribution of more than 20 million meals statewide, alongside training and pantry programs. Transportation & Safety: Delaware’s Office of Highway Safety is offering July 4 “Sober Rides” vouchers and limited Sussex bus service. Energy & Affordability: Delaware advanced $73 million in community solar projects aimed at lowering bills, including credits for renters.

Utility Rates: Gov. Matt Meyer put his demand in writing, urging Delaware’s Public Service Commission to suspend Delmarva Power’s interim rate increase set to take effect July 9, arguing repeated hikes are driving an affordability crisis for families, seniors, and small businesses. Public Safety Law: A Delaware bill to tighten background checks for volunteer firefighters is moving forward, but a new amendment narrows who must be screened and who could be automatically barred. Corporate/Legal Watch: Delaware Chancery Court is set to weigh whether a technology term sheet is enforceable as a binding deal and whether specific performance is available for alleged IP licensing and joint venture breaches. Environmental & Business: Chemours reached a preliminary $450M PFAS settlement with federal and state agencies, resolving claims tied to releases into the Ohio, Cape Fear, and Delaware rivers. Health Policy Fight: A coalition of Democratic-led states sued the Trump administration to block new Medicaid work requirement guidance that narrows the “medically frail” exemption. Local Community: The Delaware Valley Fire Museum in New Hope launched a new “SALUTE!” military tribute exhibit running through Veterans Day 2026.

Delaware Utility Watch: Gov. Matt Meyer asked the Delaware Public Service Commission to suspend Delmarva Power’s July 9 rate increase, arguing temporary rates could overshoot what the PSC ultimately finds “just and reasonable,” amid affordability pressure on families, seniors, and small businesses. Delaware Lawmaking: With the 2026 session nearing its final day, lawmakers face uncertainty on major bills including property tax reforms and healthcare-cost measures, while the capital budget and bond bill—about $1.26 billion—hang in the balance. Port & Infrastructure Funding: The bond bill’s surprise funding source is Delaware’s unclaimed property program, drawing scrutiny as lawmakers rush a 103-page plan with limited time for review. Energy & Business: Matador Resources’ San Mateo Midstream agreed to buy Cardinal Midstream Partners for $752 million, expanding Delaware Basin processing and gathering capacity ahead of a July 31 close. Local Tech & Operations: EvergreenHQ launched a native menu sync with Shift4 Dine POS, aiming to cut manual updates for Delaware-area bars and restaurants. Public Safety & Health Policy: A Delaware bill would require criminal background checks for fire and EMS members, and federal Medicaid work rules moved to final form for a Jan. 1, 2027 rollout.

Delaware Budget Watch: Delaware’s nearly $7B operating budget plus $146M in one-time spending cleared the House 36-3, with GOP lawmakers warning the state’s spending pace could fuel higher taxes and more corporate “dexit.” Energy & Permitting: Gov. Matt Meyer’s JobsFirst Permitting Accelerator is speeding up community solar approvals, with projects in Seaford, Townsend and Clayton targeting faster grid connections and at least 10% bill savings. PFAS Accountability: Chemours is set to pay about $450M to settle “forever chemicals” claims tied to past pollution, keeping pressure on Delaware-area environmental compliance. Retirement Risk: A new Social Security outlook says Delaware retirees could face an average $549 monthly cut when the trust fund runs low in late 2032. Local Business & Community: The Delaware Resorts Expos’ Summer Living Expo drew 60+ exhibitors at Cape Henlopen High School in Lewes, highlighting summer-ready services and products. Public Safety: Sen. Chris Coons was briefly hospitalized after a traffic accident in Lewes and is now home recovering from minor injuries.

State Budget: Delaware’s nearly $7B operating budget plus $146M in one-time spending cleared the House with a 36-3 vote for FY2027, with lawmakers citing sustainability and “dexit” concerns as corporate revenue pressures future budgets. Energy & Permitting: Gov. Matt Meyer highlighted faster approvals for community solar under the JobsFirst Permitting Accelerator, aiming to get projects generating 6–12 months sooner and cutting bills for subscribers. PFAS Accountability: Regulators secured a $450M Chemours settlement over “forever chemicals,” including penalties and long-term spending on discharge reductions and drinking-water controls tied to impacts on the Delaware River and other waterways. Business & Capital Markets: Gates Industrial shareholders overwhelmingly backed a redomiciliation to Bermuda, while Delaware-related corporate moves continue to draw attention from investors and regulators. Local Business Community: The Delaware Business Owner Summit named Children’s Beach House as its 2026 beneficiary, spotlighting leadership and succession topics for Delaware entrepreneurs. Public Safety & Local Economy: A North Bay Marina boat fire in Sussex County was contained quickly with no injuries, with the Delaware State Fire Marshal taking over the investigation. Civic Life: Delaware’s America 250 events keep rolling, including a coast-to-coast relay expected to end at Cape Henlopen.

PFAS Settlement: Chemours agreed to a $450M “forever chemicals” settlement with federal and state regulators, a major Delaware-area cleanup and cost hit for the company. Corporate Redomiciling: Dell shareholders backed moving the company’s legal base from Delaware to Texas, continuing a broader trend of Delaware losing corporate domicile decisions. Local Business & Philanthropy: The Delaware Business Owner Summit in Dewey Beach named Children’s Beach House as its 2026 beneficiary, spotlighting how Delaware executives are tying growth conversations to community impact. Public Safety: Firefighters contained a boat fire at North Bay Marina in Sussex County with Delaware and Maryland crews responding; no injuries reported. Community & Culture: The Southern Delaware Alliance for Racial Justice will hold its 10th anniversary gala Oct. 24 in Rehoboth Beach, marking a decade of local advocacy and scholarships. Policy Watch: Delaware lawmakers face pressure over energy and data-center incentive debates, with critics warning proposed bills could harm the state’s economy and power strategy.

Nonprofit & Community Business: Blue Rock Financial Group’s Delaware Business Owner Summit named Children’s Beach House as its 2026 beneficiary, spotlighting leadership, succession, and capital efficiency at the June 25 Dewey Beach event. Public Safety & Local Governance: Rehoboth Beach saw a heavy, multi-agency police presence after officials warned of a potential “takeover” event—then reported no takeover activity. Delaware Economy & Housing: May housing data shows sales holding steady year over year (1,289 homes sold), with slightly longer time on market and inventory up 12%, while prices barely moved—an affordability reality check for buyers. Corporate Moves & Delaware’s Role: Dell shareholders approved moving the company’s legal base from Delaware to Texas, underscoring how corporate governance decisions keep reshaping the First State’s business footprint. PFAS Accountability: Chemours agreed to a $450 million federal settlement tied to “forever chemicals,” including penalties and long-term mitigation and controls across multiple states. Energy & Growth Policy: Delaware lawmakers are weighing bills that could affect energy policy and data center incentives, with critics warning of economic and household impacts. Business Development Watch: A major Middletown pharma campus faces risk after the Pentagon blacklisted WuXi, raising questions about how defense restrictions can derail large Delaware-area projects. Food & Hospitality Regulation: A proposed Delaware law would let local governments extend “last call” from 1 a.m. to 2 a.m., aiming to boost hospitality revenue and competitiveness. Local Business & Retail: West Marine is closing its Watertown store after filing for bankruptcy in Delaware, a reminder of pressure on retail supply chains and marine demand. Lottery: Delaware Lottery results for June 26 included Mega Millions 05-13-30-33-52 (Mega Ball 06) and Play 3 Day 9-6-7 / Night 4-6-4.

PFAS Accountability: Chemours agreed to a roughly $450M federal settlement over “forever chemicals,” including penalties plus long-term mitigation and cleanup spending across multiple states. Corporate Moves: Dell shareholders approved shifting the company’s legal incorporation from Delaware to Texas, a reminder that Delaware’s business-friendly setup can still lose high-profile headquarters work. Local Housing Watch: Delaware’s May housing market stayed steady versus last year, but pending contracts fell and inventory rose—prices barely moved, keeping affordability pressure front and center. Delaware Business Climate: A proposed law would let Delaware towns extend alcohol “last call” from 1 a.m. to 2 a.m., aiming to boost hospitality revenue and competitiveness. Energy & Development: Sussex County approved a solar project after the developer adjusted plans to better protect an adjacent therapeutic riding center. Legal & Immigration Impact: Delaware leaders criticized a U.S. Supreme Court decision ending Temporary Protected Status for Haitians and Syrians, raising uncertainty for local families and workers. Retail Shakeout: West Marine is closing its Watertown store after filing for bankruptcy in Delaware, part of a broader multi-state contraction.

Corporate Governance & Delaware Law: Delaware Supreme Court upheld a Chancery ruling limiting Trade Desk’s stockholder inspection rights, saying the company doesn’t have to turn over director emails tied to its 2024 move from Delaware to Nevada. Energy & Cost Savings: Gov. Matt Meyer announced four accelerated community solar projects totaling 16+ megawatts and $73M+ in private investment, aimed at cutting electric bills for Delaware residents and businesses. Transportation & Jobs: Alstom will open a $55M Amtrak maintenance facility in Newark, creating 100 jobs and shifting 50 existing roles from New Castle to the new site. Local Business & Downtown: Newark approved 16 limited free parking spaces downtown for up to 15 minutes to make quick stops easier for shoppers and diners. Housing Development: New Ark UCC selected HDC Mid-Atlantic to redevelop its Main Street church into an affordable housing complex, with demolition and a multistory replacement planned. Public Safety & Health: Delaware House passed a bill creating a state licensing system for gun dealers with added inspection, reporting, training and security requirements; Blood Bank of Delmarva urged donors to give before the Fourth of July to avoid summer supply dips.

Public Safety & Enforcement: New Castle County won permission to add a third electronic speed camera on Old Capitol Trail near Marshallton, with civil violations issued to vehicle owners (no points) and any extra revenue potentially shifting toward safety programs. Gun Oversight: The Delaware House passed a bill creating a state licensing system for firearm dealers, adding inspection, reporting, training, and security requirements before it returns to the Senate. Fraud & Scams: A Delaware op-ed argues local action isn’t enough against fast-growing online scams, citing E-ZPass text scams and pushing for stronger measures like banning crypto ATMs. State Budget & Policy: Delaware’s FY2027 operating budget cleared the House and heads to Gov. Matt Meyer, with raises, education, and Medicaid driving spending. Food Assistance Accountability: USDA data shows SNAP payment error rates topped $10.1B nationally; Delaware’s error rate is listed at 16%, putting it among the least accurate states. Business & Legal: Dell shareholders approved moving the company’s legal home from Delaware to Texas, a reminder of how corporate structuring decisions can shift Delaware’s economic footprint. Energy & Industry Incident: A fire at the Monroe Energy refinery in Trainer, Delco, injured three workers, prompting shelter-in-place actions and ongoing investigation. Local Governance: New Castle County approved Wilmington’s annexation of unincorporated land tied to plans to expand the Chase Fieldhouse. Transportation Costs: AAA reports Delaware gas prices at $3.75, among the lowest in the region ahead of July 4 travel.

PFAS Accountability: Chemours agreed to a $450 million settlement with the U.S. government to resolve “forever chemicals” claims tied to releases into the Cape Fear, Delaware and Ohio Rivers, a major federal cleanup step with ripple effects for Delaware-area water and industry oversight. Legal & Business Climate: Delaware Chancery Court denied Albertsons’ push to force Kroger to turn over more internal law-firm communications in their failed $24.6 billion merger fight, keeping key privilege lines intact. Local Economy & Growth: TKo Hospitality announced new hotel additions in Rehoboth Beach and Oceanport, signaling continued Mid-Atlantic expansion and more lodging investment for Delaware travelers. Community & Workforce: Delaware’s unemployment rate ticked down again, while the Delaware Community Foundation awarded a record $1.0015 million in scholarships to 233 students—both signals of steady economic and talent support. Public Safety: A refinery fire in Trainer triggered a shelter-in-place order and road closures, with officials saying monitoring showed no risk beyond the immediate area. Tech & Consumer Habits: Delaware-based Commodore unveiled a retro flip phone aimed at reducing smartphone addiction, betting on a “no social media” alternative.

PFAS Accountability: Chemours agreed to a $450 million “forever chemicals” settlement with the U.S. DOJ, including a $22.5 million penalty and $90 million for PFAS discharge reductions, with additional commitments aimed at supplying clean drinking water near facilities in West Virginia, New Jersey and North Carolina. State Budget Watch: Delaware’s 2027 budget cleared Legislative Hall, with most state employees set for a 3% raise and lawmakers pointing to spending increases, Medicaid funding needs, and budget-stabilization fund levels. Consumer Data Rules: A Pennsylvania privacy bill advanced after unanimous Senate committee approval, adding opt-outs for targeted ads, correction rights, and deletion requests—another sign of tightening rules around personal data. Delaware Corporate Courts: Delaware Chancery denied a stay in a revived restrictive covenant fight, keeping the case moving while related litigation continues elsewhere. Business & Travel: Breeze Airways announced a new nonstop Charleston-to-Trenton route, positioning it as a faster link to the Philadelphia and Delaware region. Tech/Health Research: Penn researchers won a Google grant to use AI medical imaging tools to improve access in Botswana. Capital Markets Scrutiny: The SEC is probing private equity continuation funds, raising pressure for clearer pricing, conflict controls, and investor disclosures.