Like the main character in a country music song, Toad’s Place just got the boot from its landlord. It’s not clear exactly how much back rent the Shockoe Slip venue owes, but it typically takes at least three or four months of missed rent before a commercial property owner evicts a tenant. Sources familiar with… Read more »
Aaron Kremer
Aaron Kremer is the founder of Richmond BizSense. Email him at [email protected].
NewsFeeds 3.11.09
Large law firms cutting pay for first-year attorneys (Chicago Tribune) McGuireWoods LLP confirmed Monday that it will cut pay for first-year attorneys by 10 percent. In its Chicago office, the class of 2009 will make $144,000, down from $160,000. Other firms are expected to follow suit.In Baltimore, Richmond and other smaller markets, McGuireWoods cut first-year… Read more »
Fresh out of law school with less pay
Pay for new lawyers is dropping at one Richmond law firm. According to a story in the Chicago Tribune, Richmond-based law firm McGuireWoods is lowering its starting salaries for new associates in Richmond from $145,000 to $130,000. RBS has heard for several months that law firms are having a harder time collecting from businesses, and… Read more »
NewsFeeds 3.10.09
Toad’s Place currently closed (Times-Dispatch) Is it the end for Toad’s Place? Yesterday, legal notices posted around the live-music venue at 140 Virginia St. on the Canal Walk stated that because of “serious default in rental payment and other obligations . . . ” the venue was closed. Regency Square to add XXI Forever clothing… Read more »
VCU airbrushes tattoos from Eric Maynor’s biceps. Why?
The VCU athletic department airbrushed out the tattoos on start point guard Eric Maynor’s biceps for the media kit and the website, according to a short story in the Times-Dispatch. According to the paper, “VCU Athletic Director Norwood Teague said it was his decision to have the photo altered. “I think a lot of the… Read more »
On Your Right, Foreclosure No. 3
For four weeks now, Brick Smith has been driving investors or other bargain-hunters to look at foreclosed homes. It’s a new niche for the 25-year veteran Realtor. On a cold Saturday last month, Brick had an investor in his 30s sitting shotgun in his Lincoln. This particular investor, who did not give Richmond BizSense permission… Read more »
NewsFeeds 3.9.09
Father-son partners are the force behind Movieland cinema (Times-Dispatch) Some nice background about the developers: About five years ago, Charley and Ben Moss traveled from Atlanta to New York and stopped for an overnight rest at The Jefferson Hotel. “We were wowed by the history of this place,” said Ben Moss, who, like his father,… Read more »
NewsFeeds 3.6.09
End of an era: Circuit City closes Sunday night (Times-Dispatch) At the retailer’s stores near Short Pump and at West Broad Street and Gaskins Road, the remaining merchandise was on shelves near the front of the store. The stores had a few speakers, some music CDs and movie DVDs, a handful of camera batteries, and… Read more »
So … about that invoice …
Richmond businesses are taking longer to pay each other’s invoices, and the problem is getting worse. About 85 percent of businesses in a Richmond BizSense survey said that at least one client is paying slower than the stated terms. And once one starts paying slowly, money can get tighter all the way down the food… Read more »
NewsFeeds 3.5.09
33,000 local homeowners owe more than homes are worth (Virginian-Pilot) More than 33,000 homeowners in Hampton Roads owed more on their mortgages than their homes were worth at the end of 2008 as home prices continued to fall, according to a report released Wednesday by a mortgage research firm. Cranes Are Ready, Financing Isn’t (Washington… Read more »