Local bankers know they’re not the most popular guys around town these days. But the banking model doesn’t work so well when real estate prices are fluctuating so wildly and major industries are falling by the wayside. There were two banking panels this week both centered around the topic of why banks seem tighter lending than this time two years ago. Both had a similar refrain.
Aaron Kremer
Aaron Kremer is the founder of Richmond BizSense. Email him at [email protected].
NewsFeeds 3.19.10
Hurt by bad loans, firm expects loss of $143 million for ’09 (Virginian-Pilot) Hampton Roads Bankshares Inc., hobbled last year by sour loans and an erosion of capital, said it expects to report a net loss of $143 million for 2009 largely because of a large provision for loan losses. Stalled D.C. merchants look with… Read more »
Richmond competing for Google’s ultra high speed broadband
The City of Richmond has joined a growing list of municipalities hoping tech giant Google picks it for a new a high-speed broadband experiment that could increase Internet surf times by 100. And a video will be out next week featuring local political and business leaders.
Business Licenses 3.18.10
Best names this week: Poshfairytail Inc. and Tow for U LLC.
NewsFeeds 3.18.10
Some still savor Roanoke’s closed Countryside golf course (Roanoke Times) Weeks after Countryside Golf Club closed, its future remains in flux, yet golfers still swing by to play 18. | “It’s something you can tell your grandkids. Countryside golf course will come up, and you can tell them, “I was the last person to play… Read more »
Glued to the cell phone
A local commercial real estate veteran spent the last three and a half years designing and building a stretchy cell phone accessory he hopes will become the Bluetooth or holster for a new generation of users. This is his first invention.
The Herd: New Hires & Promotions for 3.17.10
A big and diverse Herd this week, including a new sustainability manager for the City of Richmond and a lawyer-turned-VP-of-communications.
NewsFeeds 3.17.10
Day the music died (Virginia Gazette) ith the closure of Plan 9 at Monticello Shopping Center earlier this month, the community is without an indy store for the first time. TowneBank starts division to facilitate community projects (Virginian-Pilot) TowneBank, whose nonbank activities range from insurance sales to property management, has created a unit to line… Read more »
Watching construction work
It’s great to see repairs to streets and sidewalks. But I counted 9 workers on the corner of Cary Street and Three Chopt. Don’t they start to get in each other’s way?
200 acres in Varina to be sold on courthouse steps
Two hundred acres of farmland with a stretch of James River waterfront will be auctioned off March 25, the result of a foreclosure of one of Richmond’s biggest home builders.