After 12 quarters, bank turns first profit (Inside Business)
A business journal in Hampton Roads has a nice profile of Richmond banker Merlin Henkel, who helped start Virginia Business Bank. Breaking into Richmond can be difficult, Merlin Henkel said, because “a lot of people think Richmond is a little more conservative. I don’t know if that’s true. There may be some institutional loyalty in Richmond that’s harder to break down.”
Manufacturer to add 125 Albemarle jobs (Daily Progress)
A local manufacturer of ground-penetrating radar is expected to add 125 jobs to its Albemarle County plant after being awarded an estimated $8.4 million military contract to provide equipment for use in Afghanistan.
Eddie Bauer may be headed into bankruptcy court (USA Today)
Three-consecutive years of losses and a high debt load may be too much for Eddie Bauer Holdings to overcome. The outdoor clothing retailer may seek bankruptcy protection as soon as this week, according to five people with knowledge of the discussions.
In Ads, Banks Try the Warm, Cozy Approach (NY Times)
There is Ally Bank: “A better kind of bank.” And A.I.U.: “A unique franchise.” And — really — Redneck Bank: “Where bankin’s funner!” All are new names and new slogans for old companies with big worries and, in some cases, even bigger image problems.
Fixing Health Care Starts With the Doctors (Washington Post)
A solid column that adds some analysis to the local reporting we did in the last few weeks. If we really want to fix America’s overpriced and under-performing health-care system, what really matters is changing the ways doctors practice medicine, individually and collectively. Everything else — mandate or no mandate, the tax treatment of health benefits, whether there’s a “public plan” to compete against private health insurers — is just tinkering at the margin.
Cutting the Fat (Slate)
Why Anne Taylor and other stores stopped carrying plus-size clothes.
When Negotiating, Always Listen Before You Speak (Inc.)
Norm Brodsky’s column is often the best part of the issue. This month it’s a must-read for business owners. Go into every negotiating situation with an open mind and listen to what the other party is saying. That’s what I advised Mike Baicher to do. “You don’t know the bank’s position,” I said. “Banks are in trouble. Maybe they have reasons not to foreclose. The important thing is for you to be completely truthful about your situation.” That’s another rule: When you’re negotiating about money you owe, don’t make up stories. Just tell the truth.