Michael Schwartz

Michael Schwartz is the editor of Richmond BizSense, and covers banking, lawsuits, finance, M&A and golf. He can be reached at [email protected] or 804-855-1037.

The quest to define ‘creditworthy’

A lot has been written in the national media about the ongoing credit crunch. We want to investigate the lending situation here in Central Virginia.

Local bank looks to raise $15M

Central Virginia Bankshares said Friday that it wants to raise up to $15 million to replenish its depleted capital reserves. But the bank will likely not be making many new loans until it is in better financial shape, the company said in an SEC filing.

Insmed gets a warning

Local pharmaceutical firm’s stock has been in the tank and faces being delisted.

The dummy might soon be homeless

An office on the scenic 19th floor of a downtown office building is available for leasing after a Virginia-based investment firm shut down last month. But the dummy sitting in the entrance way is still there, at least for now.

Another Va. bank enters survival mode

The troubled Norfolk-based successor of Bank of Richmond yesterday became the latest bank to enter into an agreement with federal and state regulators by which it must devise a turnaround plan.

Cigar smoking duck attacks credit unions

A non-profit political action organization has launched an ad campaign attacking the tax exemption of credit unions, arguing they should be taxed like their banking counterparts.

New shop saw hole in the donut market

A new donut shop has opened up near Innsbrook with the help of stimulus money from the state. And the owners want to employ some disabled workers.

Trading Day 6.17.10

Altria Group The company said it is registering 50 million shares of its common stock for its 2010 Performance Incentive Plan for certain employees. The company also said it is registering an additional 750,000 shares for its stock compensation plan for non-employee directors. Brink’s Co. Matthew Schumacher, the company’s controller, exercised options to acquire 3,674… Read more »

nHealth fallout deals blow to small employers

Lost in the politics of a local health insurance firm’s decision to exit the insurance market is the fate of the small businesses who offered the company’s insurer’s plans to its employees.

Local credit union may need a life line

Richmond is home to two of the lowest rated financial institutions in the state, according to bank and credit union ratings released last week. But of the 18 community banks headquartered in the Richmond area, four had 5-star superior ratings.