News

Virginia Best State for Business

For the third straight year, Virginia has been named the Best State for Business by Forbes. Virginia ranked 7th in labor supply, 6th in quality of life, and 6th in economic climate. It was also ranked 1st for regulatory environment, thanks in part to the second-best incentive programs in the country. Only two other states,… Read more »

45,000 sign up for Ukrop’s gas promotion

Richmonders have knocked $256,000 off their gasoline bill by swiping their Ukrop’s member cards at Uppy’s gas stations. Las month, Ukrops and Uppy’s launched a joint promotion last month called fuelperks!. BizSense reported it here. For every $50 spent on groceries at Ukrop’s, customers get 10 cents off each gallon of gas at Uppy’s. If… Read more »

Business loans harder to get

Bankers are taking longer to issue business loans and asking for more collateral when they do issue them, according to bankers around Richmond. Even companies with solid credit and long-established relationships are having more trouble getting financing, which is an essential ingredient for growth. The number of loan requests, meanwhile, is also falling. “Entrepreneurs feel… Read more »

CFO and CAO leave S&K

Long-time S&K Menswear CFO Bob Knowles has left the company. Controller and Senior Vice President & Chief Accounting Officer Janet L. Jorgensen has also left the company. Knowles was with the company for more than 25 years. S&K announced last week that it was cutting 50 local jobs. CEO Joseph Oliver could not be reached… Read more »

Small cars hit puberty and get popular

CarMax, reported that searches for smaller, more fuel-efficient vehicles on the company’s website continue rising. The Mazda3 moved up from the 39th most popular search in March to the 16th most popular search in June. The VW Beetle (shudder) rose from 71 to 40. Meanwhile, Cars.com reported that sales for the Honda Fit were up… Read more »

How about a little something for the effort?

Workers who rely on tips are starting to see the tip jar as half empty. In a BizSense survey, 70% of workers in a tip-dependent industries said that their compensation has gotten noticeably worse this summer compared to previous months. We surveyed 25 workers, including waiters, waitresses, hair dressers, shoe cleaners, bus boys, delivery boys… Read more »

Gas station asks customers to pay with cash

High gas prices are squeezing the gas stations, too – in particular, the rapidly rising credit-card fees, which can run around 3% of the total cost. When gas was $2 a gallon, that meant a charge of 6 cents per gallon to the gas station for the convenience of processing the transaction. Now that’s up… Read more »

Most promising startups in Richmond?

The search is on to find the most promising startups in the Richmond area. The fourth annual Greater Companies to Watch series is now accepting nominations on its freshly-launched website. The winners will be announced on October 29 at a celebration at Toad’s Place, and will then be featured in a widely read brochure.

Handmade Soaps to Clean up Main Street

A transplanted couple from Arizona wants to cleanup a block of East Main Street – by making and selling soap in a formerly dilapidated store. Michael and Sharon Walsh started making soap 18 years ago after receiving a how-to book as a gag gift. “The book was horrible. I was forced to find a way… Read more »