A local bank that has been battling losses from souring loans announced late Tuesday that it is closing one of its branches and selling the deposits of that branch to a competitor.
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 R&D Dept.: Local patents for 1.19.11
The latest local patents include a closet with a built-in piggy bank, a bridge system for stringed instruments, a blender and a kitchen appliance that can keep food hot and cold at the same time.
For sale or foreclosure?
The fate of a 32,000-square-foot R&D facility in Chesterfield County is up for debate.
Auto sales get a little gas
According to the latest new-vehicle registration data released by the Virginia Automobile Dealers Association, the industry’s long climb back up might be beginning.
CarMax bets on the Big Game
CarMax will be forking over a pretty penny for 60 seconds of the nation’s attention during this year’s Super Bowl, according to report a in AdvertisingAge.
Financing climate sends Roseland into Chapter 11
A company that owns about a quarter of the large Midlothian mixed-used development Roseland has declared bankruptcy.
Seeds of discontent
Not all the drama happens in downtown boardrooms. The executive director of a small farming nonprofit in Goochland says she has been ousted after speaking out publicly about how the board of directors handles the money.
Trading Day: Inside the SEC filings for 1.13.11
A director and general counsel resigned from a local bank. Plus CarMax is going to start opening new stores again.
Eimskip might skip town
The local maritime community is anticipating an announcement that Iceland-based shipping company Eimskip will pull out of the Port of Richmond in favor of Hampton Roads.
Big accounting merger announced
You don’t need an accountant to do this math: two large accounting firms joining forces equals one giant accounting firm.