West Broad Village developers shocked at utility bill (Henrico Citizen)
Great reporting and a must-read. A financial dispute between the developer of West Broad Village and Henrico County is threatening to delay the completion of the project. At issue is the cost of connecting water and sewer service to the project’s 14 buildings. Officials from Unicorp, the developer of the 115-acre project at the I-64/West Broad Street interchange in Short Pump, believed the connections would cost $589,000 and budgeted that amount into their initial financing plans. But when they received a bill from the county for the connections, it totaled more than $3.5 million, a difference that shocked them.
Tyson Foods plant in Hanover adding jobs (Times-Dispatch)
Some jobs are coming back to a Richmond-area food-processing plant less than a year after layoffs, while a Southside Virginia city announced a business investment yesterday that is expected to create 28 jobs.
Nelson whiskey firm eager to expand to single malt (Daily Progress)
Lawmakers will consider a measure today that would allow a soon-to-open Nelson County distillery to sell bottles of its Scottish-style single malt whiskey.
U.S. Pressed to Add Billions to Bailouts (NY Times)
All these companies’ mushrooming needs reflect just how hard it is to stanch the flow of losses as the economy deteriorates. Even though the government’s finances are being stretched — and still more aid might be needed in the future — it is being forced to fill the growing holes in the finances of these companies out of fear that the demise of an important company could set off a chain reaction.
Nonprofits: Misery loves company (Fortune)
n the for-profit world, mergers and acquisitions are way down because of the poor economy, but the recession appears to be having the opposite effect on non-profits. A recent survey by The Bridgespan Group, which consults 501(c)(3) organizations, found that 20% of nonprofits say merging will play a role in their survival of the down economy.
The Right Way to Manage Unprofitable Customers (BNET)
Some of your customers aren’t paying their bills. Others are so high-maintenance that the cost of serving them is eroding your profits. What to do? For many companies, the answer is simple: Show them the door. Divesting difficult customers has its advantages, but consider the collateral damage: The profitable customers you’re keeping may wonder if they’re next in line and defect to friendlier providers. And you may do your competitors an unintended favor by sending new business their way.