Virginia’s five largest state universities have raised tuition by 5 percent to 7 percent for the coming school year. The schools have eliminated a planned 2 percent salary increase for faculty, saving $37 million.
Aaron Kremer
Aaron Kremer is the founder of Richmond BizSense. Email him at [email protected].
NewsFeeds 6.5.09
Investment company plans to layoff 133 local workers (Virginian-Pilot) Capital Group Cos., an investment management firm that sells and manages the American Funds family of mutual funds, will lay off 133 local workers over the next two weeks, a spokesman said Thursday. Shenandoah Valley’s Base-X manufactures tents to make global impact (Roanoke Times) The Rockbridge… Read more »
A tour of Lindy Fralin’s Pickup shop
RBS bumper stickers: seriously
We now have Richmond BizSense bumper stickers. Please e-mail [email protected] for a ceremonial placing on your car. Just tell him where you are parked the make model and license plate, and he will come place a sticker on your car free of charge. We printed 300. That may have been 297 too many.
NewsFeeds 6.04.09
Advance’s CEO touts future in Web sales (Roanoke Times) The Minnesota-based chief executive officer of Advance Auto Parts said Wednesday in Roanoke that the company is in no hurry to build stores on the West Coast but wants to equip itself more fully for Internet sales. UVA endowment back to money-making ways (Daily Progress) A… Read more »
Now playing at Toad’s Place: The fat lady
On Monday, Toad’s Place of Richmond LLC filed for Chapter 7 liquidation in U.S. Bankruptcy Court. The club closed in March when the landlord changed the locks. At that time, the venue fell four or five months behind on its $40,000 rent.
NewsFeeds 6.3.09
Neighbors in Waiting (Style Weekly) Another thought-provoking businsess article from Peter Galuszka. The country’s real estate meltdown hasn’t just sparked a recession — it may have ended modern-day suburbia. Financing has tightened so much that buyers find they no longer qualify for the jumbo loans that they did just a few years ago. Developers can’t… Read more »
NewsFeeds 6.2.09
Baseball investors withdrew support (Times-Dispatch) Concern about Richmond’s continued lack of a plan to replace The Diamond influenced a portion of Richmond Baseball Club LC’s investors to withdraw financial support, which killed a proposed $15.4 million deal that would have made RBC the owner of the Class AA Connecticut Defenders, sources said. Liberty Tax considers… Read more »
Prognosis good for Richmond hospitals
Both non profit hospitals in Richmond are still very much operating in the black, but large investment losses are dragging down their financial performance, and that could clog the pipeline for new buildings and potentially increase the cost of borrowing in the future. And both say more patients are postponing certain care and having more trouble paying.
NewsFeeds 6.01.09
City transit service to add hybrid ‘trolleys’ (Daily Progress) The Charlottesville Transit Service will soon be adding hybrid buses to its 38-bus fleet, a first for the service as it tries to use more fuel-efficient technology. G.M. to Seek Bankruptcy and a New Start (NY Times) President Obama will push General Motors into bankruptcy protection… Read more »