Downturn, boomers will alter everything, Va. researcher says (Daily Progress) A tanking economy and aging population will result in a new frugality with intergenerational households, changes in transportation modes and more seniors spending their final years at home, warns John Martin. Recession helps drive Advance Auto’s profit (Roanoke Times) The company’s leg up is auto… Read more »
Aaron Kremer
Aaron Kremer is the founder of Richmond BizSense. Email him at [email protected].
NewsFeed 5.20.09
Shockoe Center backers need fans to spend (Times-Dispatch) In addition to ticket-tax revenue, developers expect food sales to generate about $366,000 in tax revenue. If that came only from minor-league games, that would translate to an average of $12.74 in food purchases per fan. Golf products company expands portfolio (Times-Dispatch) Henrico County-based golf products and… Read more »
When Insmed’s drug is the only hope
The New York Times ran a powerful feature about a patient with Lou Gehrig’s disease and his search for Iplex, a drug made by Richmond-based Insmed that was just recently made available for patients with the debilitating disease, at least for patients with no other hope.
Times-Dispatch cuts 5 more staffers
The Times-Dispatch laid off four more reporters and one researcher. Click to see the memo from the publisher to employees.
NewsFeeds 5.19.09
S&K set to go to liquidator (Times-Dispatch) S&K Famous Brands Inc. likely will be auctioned off today to a company that will liquidate its merchandise and close its remaining 105 stores. In a court papers filed yesterday afternoon, the Henrico County-based menswear retailer said it would hold an auction at the Richmond office of its… Read more »
NewsFeeds 5.18.09
The port’s entertainment expenses are beyond scrutiny (Virginian-Pilot) The Virginia Port Authority spent $556,225 to market the port, court potential business partners and entertain clients in its most recent fiscal year, which ended June 30, 2008. Details of how that money is spent has been public for years. Not anymore. Dumped GM, Chrysler dealers endure… Read more »
Layoffs at Hunton & Williams
Hunton & Williams cut 23 lawyers and 64 staff members at various offices around the country, according to the Times-Dispatch. It’s unclear how many are at the Richmond headquarters.
NewsFeeds 5.15.09
S-A-T-I-R-E Tostitos To Open Lime Dust-Making Plant In Chesterfield County (Tobacco Aveneue) Frito-Lay announced plans today for a plant just south of Richmond that will employ more than 1,000 workers in an operation dedicated solely to the production of lime dust, a seasoning that is later blasted onto the snacking company’s popular Hint of Lime-flavored… Read more »
Deja vu all over again: Anderson Strudwick deal off
An out-of-state brokerage’s bid to buy Anderson Strudwick has been called off.
NewsFeeds 5.14.09
Suffolk’s First Bankshares agrees to combine with Xenith (Virginian-Pilot) Richmond’s Xenith Bank began working more than a year ago to organize a new, state-chartered bank, but its efforts were thwarted by turmoil in the financial markets in the fall, Layfield said. Instead of trying to start a bank, Xenith decided to acquire one and approached… Read more »