Rock and roll will never die, but music stores do. Plan 9 is closing their Harrisonburg store at the end of the month, according to the Daily News Record. Compact discs were still king, and you could even still buy cassette tapes when the Richmond-based music store opened the Harrisonburg location in the mid-1990s. Now… Read more »
Al Harris
Richmond consumers shopping less but still dining out
Shoppers in Richmond cut back spending at a surprising clip in the fourth quarter of 2008, according to recently released tax data. But restaurants, long thought to bear the brunt of new-found thriftiness, didn’t see an across-the-board hit to their revenue.
Survey says companies are cutting pay
This may not be the year to ask for a raise. More than 62 percent of companies in Richmond have reduced staff costs in response to the economic downturn, according to a recent survey.
Richmond Baseball Club set to take over Defender’s lease
Last month, Bryan Bostic of Richmond Baseball Club LC announced they planned to buy a AA baseball team in Connecticut to replace the AAA Richmond Braves. Their plan to buy the Connecticut Defenders is closer to becoming a reality, despite no guarantee that the stadium slated for Shockoe Bottom will be built. According to local newspaper The Day,… Read more »
Will the real Cohiba please stand up
Congressional Quarterly had an interesting article last week about how loosening the U.S.’s trade embargo on Cuba could be problematic for one Richmond-based cigar company. Cohiba is the most famous cigar in Cuba, it was reported to be Fidel Castro’s favorite. The cigar is produced by a Cuban state-owned company, Habanos S.A.. General Cigar Company… Read more »
The Monday Q&A: Why a new insurance company chose Richmond
Wales-based auto insurer Admiral announced last week that it was locating its U.S. headquarters in Richmond. The company was founded in 1993 and is third largest insurer in the United Kingdom. Andrew Rose, president and chief executive of Admiral Americas, is a Virginia Tech engineering graduate. Several years ago, he got married and made his… Read more »
Fast computers making fast money
Chesterfield-based computer Velocity Micro continues to increase sales during difficult times. The company, which specializes in making ultra-fast gaming PC’s, saw sales increase 24% this past holiday season between Black Friday and Cyber Monday. Spokesman Josh Covington said the momentum carried through the fourth quarter and continued into January and Febuary. Their lowest price PC… Read more »
Cleaning up in foreclosures’ wake
Matt Paxton parks his logo-wrapped Saturn Vue in front of a vinyl-sided home in Hanover County. No one lives here any more. All that’s left is a backyard play gym and an overturned Fisher-Price basketball hoop. As the founder and owner of Clutter Cleaners, Paxton has found a niche inspecting and cleaning homes as they… Read more »
The Pipeline: Commercial Real Estate Round Up for 3.4.09
Vangent, a global information management firm, leased 123,000 square feet at 701 Liberty Way in the Chesterfield, reports CB Richard Ellis. Grubb & Ellis|Harrison & Bates reports Allen Corporation of America, a Fairfax-based technology firm, leased 11,600 square feet at 16031-16035 Continental Boulevard in Chesterfield.
Richmond lands headquarters for UK-insurer
UK-based car insurance firm, Admiral, announced plans this week that they have chosen Richmond as headquarters for their newly formed subsidiary Admiral Americas. The company will start doing business across the pond sometime this year. They will hire up to 50 people by the third quarter, and employ as many as 200 by the end of next… Read more »