News

#1 Dad

Sean McGlynn wasn’t so sure he wanted to start working with his dad again. The 37-year old tried that once before, and it didn’t turn out so well. Of course, that was immediately after graduating from Radford University with a degree in business. At the time, working for his dad’s drug testing company seemed like… Read more »

Circuit City + Block buster =

So Blockbuster wants to buy Circuit City. What sort of movie would this be. A horror film? Maybe a romantic comedy? Blockbuster has been trying to swoon Circuit City with love letters, and now the movie rental company has gone public with its affection, saying it will pay $6 to $8 a share for the… Read more »

T-D looks in the mirror

Newspapers have a hard time covering themselves. On Sunday the T-D looked inward. John Reid Blackwell, wrote about the mighty struggles at the paper’s parent, Media General. “In the past two decades, the company’s strategy has been to build a newspaper and television empire in the Southeast and to combine and find collaborative opportunities at… Read more »

Richmond Banks Still Lending

Some Richmond-area banks are growing pickier about which businesses get financing. With a possible recession on the horizon, banks are extra careful to protect their investments. And there’s less money to lend, bankers say, in part because of fallout from residential mortgages (read: subprime meltdown).

Auction-Rate Insecurity

At least three Richmond investment firms are having trouble retrieving client money from investments that were thought to be short-term and low-risk. Individuals and businesses that invest with Davenport & Company, Charles Schwab and Wachovia Securities might be unable to access money from certain mutual funds that invest in municipal bonds, also known as auction-rate… Read more »

Ode to the Vending Machine. In B Minor.

In the world of casual Fridays and awkward going-away parties, there is no friend more loyal to the office worker than the vending machine. It’s like a husky pal who’s always up for ordering pizza. It doesn’t discriminate, dropping chips, chocolate bars and mini muffins into the waiting hands of mailroom clerks and CFOs alike.

This Bud is Bound for Brazil/Belgium

Busch Gardens in Williamsburg might be put up for sale if a foreign brewer follows through on plans to buy the Anheuser Busch Company, according to a story in the Financial Times. InBev, which has operations around the world, would also likely layoff some of the Williamsburg brewery staff if a deal goes through. The… Read more »

Lower your chances of pulling a retirement goose-egg

It seems some lessons need constant repeating. You’d think the fall of Enron and WorldCom taught investors a valuable lesson in the dangers of having too much of their company-sponsored retirement plan in company stock. But judging by what appears to be the pending demise of Bear Stearns, whose stock plummeted from $160 per share… Read more »

The “Recesion-Proof” Myth

When I ask small business owners if they’re seeing a slowdown, I’m told that invoices are taking longer to get paid, that expansion plans are getting put on hold, or that new contracts are slower in coming than in the past. Construction and auto dealers so far appear to be suffering the most. But any… Read more »

Wanna Trade: bartering can help conserve cash

Most business owners have at least a few good yarns to tell about a trade gone screwy (possibly involving a goat, if you’re lucky). No hard statistics exist on the volume of bartered transactions because much of it is off the books. One accountant said it happens, “all the time.” Sometimes Scott Brown likes to… Read more »