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.

Apple REIT buys another local hotel

Despite the troublesome press one of its sister funds has received lately, Apple REIT Ten is still gobbling up hotels.

Trading Day: Inside the SEC filings for 6.9.11

Several insiders at a local bank went on a buying spree this week. And the top executives of a Glen Allen bank that recently went public signed new employment contracts, each for a six-figure salary.

The R&D Dept.: Local patents for 6.8.11

Some promising patents this week including an invention for restraining someone, a painter-friendly ladder and a flame resistant garment. Plus, another patent for Capital One and a few for Phillip Morris.

On to Richmond

One of the biggest banks in the state has been quietly increasing its presence in Richmond and has plans for taking market share.

Xenith Bank to buy Paragon branch

Xenith will close Paragon’s Henrico office and is still working out which staff will come onboard.

Trading Day: Inside the SEC filings for 6.2.2011

There’s plenty of shuffling this week in the executive ranks of local public companies, including CarMax, Media General and local banks. Markel discloses that it has some acquisitions in the works. And a Midlothian videogame maker gets a reprieve on some of its defaulted debt, using one of its games as collateral.

Investment firm to pay fines in SEC settlement

Wunderlich Securities, a Tennessee-based investment firm that entered the Richmond market in November, has reached a settlement with the SEC related to allegations of overcharging its clients.

Richmond’s Wall Street?

Canal Capital Management, launched by a partner who broke off about a month ago from another downtown company, is the latest in a slew of financial firms to set up shop in Shockoe Slip.