News

Prognosis good for Richmond hospitals

Both non profit hospitals in Richmond are still very much operating in the black, but large investment losses are dragging down their financial performance, and that could clog the pipeline for new buildings and potentially increase the cost of borrowing in the future. And both say more patients are postponing certain care and having more trouble paying.

Monday Q&A: Auto bankruptcies bring the pain

Two auto bankruptcies in two months. RBS catches up with Donald Hall, of the VA Automobile Dealers Association for his insightful analysis of how this will play out locally.

Guest Opinion: Health care woes demand new thinking

Paul Kitchen, CEO at a new health insurance startup, says costs can be better contained when consumers approach their health care bills the same way as other purchases, and reap the rewards of living healthier lifestyles.

New life at John Marshall Hotel?

The two firms leading the development effort, Commonwealth Commercial Partners and Dominion Realty Partners, have been mostly quiet on the project since first announcing their intent at the end of last summer. But engineers filed permits last week to start around $18 million in renovations.

The Pipeline: Commercial Real Estate Round Up for 5.29.09

Terry’s Tire Town,a Mid-West based tire distributor, leased 90,000 square feet of at 4501 Carolina Avenue in Henrico. Smoothie King, a national smoothie franchise, leased 900 square feet at 10871 W. Broad St. in Henrico. International Special Risks, Inc., a marine insurance brokerage, leased 2,500 square feet at 730 Glen Forest Drive Suite 405 in Henrico. Click on the link to read the rest of the deals.

Food stamp applications skyrocket

More and more people each month are signing up for food stamp benefits. Richmond localities can expect an increase of more than 25 percent in monthly cases this year, according to projections based on data from the Virginia Department of Social Services.

Bright spots for homebuilders

Homebuilders have been eerily silent the past few quarters, but for builders in Chesterfield County, the market is starting to turn around. It’s another story on the other side of the River in Henrico, where building activity is still in a deep freeze. Homebuilders around Richmond say the main problem now is that most buyers can’t sell their existing homes.

Southern States lays off 30 at home office

“Even though global demand for agriculture remains high, Southern States isn’t immune to the current economic climate,” said Steve Patterson, vice president of marketing.