Private equity firm could buy Ukrop’s (Times-Dispatch)
Speculation over the future of the Henrico County-based Ukrop’s increased yesterday after Supermarket News, an industry publication, posted information on its Web site saying that an unnamed private equity firm had outbid North Carolina-based grocer Harris Teeter. The publication did not name its sources and declined to provide further details.
Kaine expected to seek budget cuts of more than $1 billion (Times-Dispatch)
Legislators expect Gov. Timothy M. Kaine today to propose cutting Virginia’s budget by up to $1.5 billion.
Merchants hope card will boost business (Fredericksburg Freelance-Star)
The Fredericksburg Regional Chamber of Commerce is hoping a new rewards card will bring repeat business to local merchants. The chamber recently joined five other localities around the state in launching a City MasterKey program, which issues one loyalty card that shoppers can present at any participating store to rack up points toward gift certificates.
Whole Foods Devotees Lash Out at CEO (Washington Post)
They have stormed Twitter, Facebook and the blogosphere to vent their rage at John Mackey, the chief executive. In an op-ed column in the Wall Street Journal last week, he argued for health-care savings accounts and declared that health care is not an intrinsic right– ideas with a conservative bent, which made Whole Foods’ liberal customer base go ballistic.
In Appraisal Shift, Lenders Gain Power and Critics (NY Times)
On May 1, a sweeping change took effect that was meant to reduce the conflicts of interest in home appraisals while safeguarding the independence of the people who do them. Brokers and real estate agents can no longer order appraisals. Lenders now control the entire process.ousing boom, pumping up values while ignoring defects.
The Mini MBA’s Big Appeal (BusinessWeek)
Short programs that provide an overview of management essentials are in demand as a dislocated workforce discovers the value of a little business know-how. The story quotes Richard Coughlan, the senior associate dean at the University of Richmond’s Robins School of Business.
Simple Luxuries Thrive in Depressed Economy (Entrepreneur)
Beer, chocolate and video games. People find comfort on a tight budget with these recession-proof products.