Banks, like humans, fear the unknown. If they can’t assess the value of an asset, say a 10-acre piece of dirt in Henrico County, they don’t want to touch it with a 10-foot pole. And if they don’t trust each other, they won’t lend overnight, which is part of the grease that keeps the financial… Read more »
Aaron Kremer
Aaron Kremer is the founder of Richmond BizSense. Email him at [email protected].
Cavalier Telephone will remove a new fee if you catch it
Attention Cavalier Telephone business customers: there may be a new “$5 energy recovery” fee on your monthly bill phone bill which you could avoid paying.
Text a question, get an answer from ChaCha
The Monday Tech Review: A new search service acts like your personal Googler for when you’re not at your computer. Users call or text in questions to ChaCha (1-800-2ChaCha or 242242), then sit back and wait. A ChaCha employee, called a Guide, receives the query and scours the internet for the best possible answer. About… Read more »
Anyone know Embassy Row Properties?
A company called Embassy Row Properties, LLC filed for Chapter 7 Bankruptcy in Richmond. I can’t find any info on them. Do they own any local developments?
Richmond mutual fund weathering the storm
So far, investors are keeping their money with a Richmond-based mutual fund company. The two mutual funds managed by Richmond’s TFS Capital are still bringing in around $1 million in new money a day, according to the company. The performance of the TFS’ market neutral fund (which bets that stocks will both rise and fall)… Read more »
Home builders anxiously wait it out
Anyone who has anything to do with putting up a house – electricians, plumbers, flooring contractors, painters – have all reacted to slower demand by cutting capacity. A Q&A with Gray Stettinius, president of the Home Building Association of Richmond. Perhaps no industry in Richmond has slowed down as much as homebuilding. Without more sales,… Read more »
West-End pasta shop closing doors
Western Henrico’s Cavanna Pasta will cease operating a stand-alone pasta shop by the end of the year. Jonny Cavanna, who has lost money almost every month on the pasta store since opening in the summer of 2004, said he is looking for an industrial location where he can continue to prepare food but avoid the… Read more »
Wall Street to Broad Street
When Wall Street institutions falter, Richmond feels the tremors. But the details of how all this will play out locally are anyone’s guess. Pat Fishe, a professor of finance at the University of Richmond’s Robins School of Business, said that the day’s events have several local ramifications. National banking activity could slow, and with our… Read more »
The bottom?
Is the failure of Lehman Brothers and Merrill Lynch the Bottom? Robert Bruner, the dean of the business school at UVA, says the odds are 50-50 in a story just posted on the NY Times website. “What we have seen in all previous crises is that the bottom is marked by the collapse or rescue… Read more »
Three lumber execs leave one company and buy another
Two executives and the head of sales left Roper Brothers Lumber Company and are in the process of buying ABC Building Supply and American Applicators in Chester. John Farrar, the president at Roper, Barry Brockwell, the CFO, and John Hinkle, a long-time sales manager, are all now working at ABC. Sources familiar with the companies… Read more »