What’s going to happen to the 155 closed Circuit City stores? Best Buy already has better locations, as the business media are always pointing out. They were built for a specific user that sells electronics, and that makes them much harder to re-lease than a typical building. Big boxes, as they’re called, can also be… Read more »
Aaron Kremer
Aaron Kremer is the founder of Richmond BizSense. Email him at [email protected].
Recession-themed ad: Sound Investment
While we found advertisements that play off of the economic hype are slow to catch on at the local level, one example was brought to our attention today. Richmond Piano has been running an ad on WCVE Public Radio for about a month that advises listeners: “make a sound investment: play the piano.” “We’ve been… Read more »
Humus maker to open plant in Chesterfield in 2010, hire 260
You know that delicious Sabra garlic humus they sell at Kroger and Ukrop’s? It’ll be made in Chesterfield starting in 2010, according to a press release issued by the state of Virginia. (Does that mean Richmond will get the freshest humus?) The Sabra Dipping Company will eventually employ 260 workers at the Chesterfield facility, according… Read more »
Why does Salem, Va have the best run baseball team in VA?
The model minor league baseball operation – everything from the front-office to the fan base, to the public/private collaboration – is about three hours away. Salem, for those of you who are not minor league baseball fanatics, is home to the Class A Avalanche. The team doesn’t have a great record or produce any more… Read more »
VCU and UVA presidents make more than the median for a prez
It’s good to be the King. Or the president of a public university. The median salary for a public university president rose to $427,400 according to a recently-completed survey by the Chronicle of Higher Education. You can read the Bloomberg story here. UVA’s President John Casteen was the fourth highest paid president of a public… Read more »
Bargain Bin Paradise
It’s Christmas in November for bargain lovers. Although the price of stocks continues to slide, so does the price of socks. For business professionals who are stably employed or really anyone who need to freshen their looks, it’s a great time to stock up on clothes as retailers try to unload excess inventory at huge… Read more »
Altria expects Va. headcount ‘to decline’ with buyouts
Altria, the parent company of Philip Morris USA, has started offering buyout packages to what might amount to 30 percent to 50 percent of the tobacco giant’s employees, including those in Virginia.
Circuit City files for Chapter 11 Bankruptcy
Circuit City Stores has filed for Chapter 11 Bankruptcy protection. The company will go before the bankruptcy court today in an expedited hearing. BizSense has also obtained the letter sent to employees this morning.
LandAmerica to be sold
Updated 10:10 a.m.: LandAmerica, the struggling Glen-Allen-based title insurance company has agreed to sell itself to Fidelity National Financial in a stock deal valued at about $128.4 million.
Pipeline Commercial Real Estate Round Up for 11.7.08
The City of Richmond purchased an animal shelter at 1600 Chamberlayne Ave. from the Richmond SPCA for $944,000. Kanawha Capital Management leased 5,500 square feet at 2235 Staples Mill Road, and Tristar Wholesale leased 26,000 sf in Manchester. Click on the link to read more deals. The City of Richmond purchased an animal shelter at… Read more »