News

Which Richmond Starbucks might go?

Yesterday Starbucks said it is going to close 600 stores around the country. There are at least 10 in Richmond. Click here for a map. The company said it will close relatively new stores that have only been open since the beginning of fiscal 2006. Starbucks identified stores that were either not profitable or not… Read more »

CarMax and Circuit City: Sniffles and Pneumonia:

It was a rough week for CarMax and Circuit City. CarMax stock shed $2 a share, or about 11%, on news that profits at the company dropped 55%. Meanwhile, Circuit City – the company from which CarMax was spawned – is on life support and looking for a transfusion. Or is it an organ transplant?

Networking online … helpful or just a passing fad?

The professional networking site LinkedIn just raised $53 million in capital, which pegs the company’s valuation at around $1 billion. Technology analysts are wondering if that’s a tad high. How much social networking sites can extract from advertisers and subscribers, after all?

Richmond Chamber names new President

Kim Scheeler will take over as president of the Greater Richmond Chamber of Commerce. He has been the head of the Tampa Chamber of Commerce since 2001. He holds a bachelor’s degree in business administration from Indiana University and an MBA from the University of South Florida.

Grocery store shakup, aisle 8

Ukrop’s continues losing market share in Richmond, according to a story in Friday’s Times-Dispatch. Of course, there’s always a huge untapped potential for Ukrop’s: Stay open on Sunday and sell booze. Ukrop’s continues losing market share in Richmond, according to a story in Friday’s Times-Dispatch. “A market study released today by Food World, a trade… Read more »

Private Equity startup about to seal first deal

Local startup Boxwood Partners is putting the finishing touches on its first deal as a private equity fund. Boxwood is acquiring an out-of-state internet wholesaler/distributor (name not revealed) that can perhaps best be described as an online version of Sam’s Club. That web-based business has millions of dollars in revenue and six employees, according to… Read more »

A Richmond startup tries to cut health care costs

A Richmond startup thinks there’s a market for treating health care more like car repairs – encouraging employees to pay out-of-pocket for routine tune-ups and letting insurance cover the accidents and emergencies. Hoping to implement this style of health care on a broader scale, nHealth recently raised $12 million, with most of that money coming… Read more »

$25 gas card for out-of-town visitors

Drive to Richmond. Stay in a hotel for two nights. Get a $25 gas card. That’s the pitch of an ad currently running in Roanoke, Washington D.C. and Hampton Roads. The Richmond Metropolitan Convention & Visitor’s Bureau, which promotes the Richmond region as a tourist destination, is paying for the spots. The ads link to… Read more »

Computer meltdown at CarMax

CarMax had a computer systems meltdown earlier this week, according to an AP story and a source at the company. “Spokeswoman Trina Lee says computer systems for the Richmond-based company experienced a temporary hardware failure that started Monday night. The problem was nearly 100 percent resolved by Tuesday afternoon and CarMax was able to sell… Read more »