After announcing layoffs to 1,200 Richmond area workers in October, struggling computer chip maker Qimonda AG is cutting back employees’ hours by 10 to 20 percent at its Eastern Henrico plant, according to source at the company. Consequently, pay will fall 10 to 20 percent for workers at the plant.
Aaron Kremer
Aaron Kremer is the founder of Richmond BizSense. Email him at [email protected].
LeClair Ryan opens second Connecticut office
In July Richmond-based law firm LeClair Ryan will open its second office in Connecticut, reports the Hartford Business Journal. “Law partner Brian J. Donnell will be at the helm,” the HBJ reports.
HandCraft opens hospital linen plant
Last week local launderer HandCraft opened a 60,000 square foot facility dedicated to hospital linen. The company poured $9.6 million into the building, which is on Cofer Road in Richmond’s South Side. Construction started in March of 2007 after a lengthy closing process.
In down economy, what will happen to corporate giving?
A rough patch for local companies can presage lean times ahead for local nonprofits. LandAmerica and Circuit City both filed for Chapter 11 Bankruptcy protection in November. Wachovia Securities, another major corporate giver, packed up most of its operations in favor of St. Louis. All three gave away large sums. Both Circuit City and LandAmerica… Read more »
Another book out by a Richmond business woman
Find your reading glasses. At the beginning of the month RBS ran a story about local business men and women who write books. Since we ran that story, a few more authors came out of the book stacks. “Writing a book remains a popular pastime and calculated strategy for local business leaders. For some, authoring… Read more »
Va. barge line plots new course
A barge service between Norfolk and Richmond set to launch on December 1 has been sold, according to the Virginian-Pilot.
LandAmerica files for bankruptcy & sells underwriting units
Title insurer LandAmerica has filed for bankruptcy. Three of its underwriting units will be sold, the company said. The stock is trading at $.20 a share, down 80% from the close yesterday. Fidelity National Financial said it would buy LandAmerica’s underwriting units Lawyers Title Insurance Corp and United Capital Title Insurance Co for $139.4 million…. Read more »
RBS on CBS
RBS went on CBS news last night. Katie Couric is great. Just kidding, it was the local CBS 6 station. We were last on the station over the summer when we talked about a study comparing salaries of various college graduates. This time they came to our humble offices and asked me about how the… Read more »
The Times-Dispatch’s Trifecta of Confusion
The whole user generation thing isn’t a great business plan for a newspaper company when users can slam your new product on the day of its launch. Yesterday Media General split the Times-Dispatch.com from InRich.com, and dozens of comment on the Times-Dispatch’s ridicules the layout and usability. Before Thursday, if you typed in www.timesdispatch.com, you… Read more »
Ferrari-driving former MCV liver surgeon performed unecessary transplants, says WSJ
The Wall Street Journal has a fascinating story about a Ferrari-driving liver surgeon. According to the WSJ, Amadeo Marcos, who was pressured to leave the VCU School of Medicine in 2000 after a colleague filed a sexual assault complaint, was recruited to the University of Pittsburgh Medical Center to boost the number of lucrative liver… Read more »