News

So … about that invoice …

Richmond businesses are taking longer to pay each other’s invoices, and the problem is getting worse. About 85 percent of businesses in a Richmond BizSense survey said that at least one client is paying slower than the stated terms. And once one starts paying slowly, money can get tighter all the way down the food… Read more »

100-proof doesn’t mean recession-proof

The state-run business of selling liquor is showing signs of a hangover. Sales to bars and restaurants for January were down 3 percent compared with the previous year. For the fiscal year that began in July, year-to-date sales at Virginia ABC stores were still up 6.3 percent from the previous year. But the size of… Read more »

The business of accessibility

Kevin Mak remembers the day a man in a wheelchair entered his restaurant with a few friends, ate some sushi and left without incident. A few weeks later, Mak, who owns Carytown Sushi, received a lawsuit in the mail. The man in the wheelchair, Craig Fabian of Midlothian, alleged that the restaurant was in violation of… Read more »

Circuit City’s HQ Liquidation: The Sequel

The bargain hunters are back at Circuit City’s Western Henrico headquarters. The electronics store’s Deep Run III building was opened Tuesday to shoppers. But unlike the sale that ended at Deep Run II, this one is going to take longer – until April – and prices are not negotiable yet.

Pharmaceutical firm sold for $5 million

A small pharmaceutical company with deep roots in Richmond has been acquired by a New York firm. After a spending a year searching for the right suitor, ECR Pharmaceuticals was bought by Hi-Tech Pharmacal Co. for $5.1 million in cash. ECR’s 60 employees have the option of staying on, said Davis Caskey, one of the… Read more »

Does Richmond’s last professional sports team have a chance?

If the Richmond Renegades can’t make a comeback, Richmond will be without professional sports. According to the hockey team’s owner and general manager Allan Harvie, it’s the third period and time to pull the goalie. In the interview below, Harvie explains the trouble with running a business downtown, the challenge of selling sponsorships and why… Read more »

Q&A: How are builders surviving the housing freeze?

BizSense has been keeping a close eye on building volume around Richmond, and if you’ve been reading you know it is down between 40 and 60 percent. Kevin Russell, vice president of Construction Management Solutions, has witnessed the slowdown firsthand. BizSense sat down with Russell at CMS’s office near the Chesterfield Airport to talk about… Read more »

Parking patrol has a closer eye on you

More little green envelopes are appearing on windshields in the City of Richmond. Between Dec. 1 and Jan. 31, Richmond parking officers issued 15 percent more citations than during the same period a year ago: 12,878 compared with 11,205. The increased ticketing has increased the revenue collected during the same period by 11 percent, from… Read more »

Qimonda fallout hits local support office

A Japanese company that provided sales and service to Qimonda’s Henrico semiconductor plant is closing its Richmond office, a sign that the fallout from the plants closure is reverberating throughout the region. Tokyo Electron LTD operated an office at 5310 S. Laburnum Ave. just a few miles from the Qimonda facility that is being shut… Read more »