According to Birmingham Business Journal, Media General will shut down Birmingham’s Skirt! Magazine. Despite a company statement saying otherwise, that could be a bad sign for the publication in Richmond, which relies on syndicated content and local advertising.
Aaron Kremer
Aaron Kremer is the founder of Richmond BizSense. Email him at [email protected].
NewsFeeds 7.8.09
What do Media General’s financial woes mean for papers? (Cville) A long and at times rambling story about Media General and it’s future in Charlottesville and Richmond. Media General certainly has a heavy debt load. The Company secured a $1 billion revolving credit facility as part of an aggressive acquisition strategy that included the purchase… Read more »
Meet the press
Stop by our office after work Thursday for beer, barbecue and a little business talk. If you hired a young professional lately, bring him or her along.
NewsFeeds 7.7.09
Advantis turnover intrigues industry (Inside Business) Seven veteran brokers have departed Advantis Real Estate Services for competitors in Hampton Roads in less than six months, possibly signaling present and future changes for the firm. Local Office Vacancies Soar, Driving Down Rent (Washington Post) The office vacancy rates in the District, Northern Virginia and suburban Maryland… Read more »
Heard on the Street: BofA data center
Bank of America is likely relocating a data center to Richmond, bringing around 200 jobs.
NewsFeeds 7.6.09
Software developers see debt collection as a perfect fit (Virginian-Pilot) The 10-year-old Chesapeake-based company, which specializes in system maintenance and automated communications software, acquired debt collection agency Sanders & Associates in April, renaming it CKS Financial LLC. Layoffs undermine consumers’ ability to ignite economy (USA Today) For those key measures of business health to exhibit… Read more »
NewsFeeds 7.3.09
GM is dropping Petersburg dealer (Petersburg Progress-Index) Floyd Francis said he has “no problem with that decision — We feel like it was fair, we feel like it was pretty much equal for everybody,” he and the other principals in the family-owned business believe the GMC Truck decision was anything but fair. Contract voted in… Read more »
NewsFeeds 7.2.09
Mortgages offered at less than market rate (Times-Dispatch) Like First Market Bank, Central Virginia Bank is now offering a below-market interest rate of 4.363 percent on 30-year fixed-rate mortgage loans up to $534,000 to customers who buy homes financed by the Powhatan County-based bank, any pre-sold home that will be built on a lot financed… Read more »
1.24 million reasons to protest…
Outside the box: Pandora founder speaks in Richmond
The founder of one of the coolest startups in the country, Tim Westergren, spoke in Richmond on Monday night. There is a great video up at ReadWriteWeb. Westergren gave some classic startup-esque answers about how the business model had to be flexible. The company almost went belly-up in 2007. Staff had to wait months to… Read more »