News

90-day prescription for Richmond’s economy

The Greater Richmond Partnership is reevaluating its game plan. The public-private economic development agency completed a 90-day plan to help Richmond remain a top place for businesses. (Richmond was just anointed a top 10 metro area for business by MarketWatch) Perhaps the most visible aspect of the partnership’s work is to promote the region to… Read more »

Chamber of Commerce forced to cut staff

The Greater Richmond Chamber of Commerce is not immune from the economic slowdown. The Chamber, a not-for-profit organization which relies upon revenue from events and memberships, has laid off four full-time employees and one part-time employee.

The price tag of a helping hand

Fallout from the slump in corporate earnings could hit local nonprofits hard. On Monday we reported on how the economic crisis portends a rough patch for charities that rely on donations. I looked up a few more corporate foundations to see what impact they have on the local nonprofit scene. Unless individual giving rises dramatically,… Read more »

Qimonda to cut hours and reduce output at Henrico plant

After announcing layoffs to 1,200 Richmond area workers in October, struggling computer chip maker Qimonda AG is cutting back employees’ hours by 10 to 20 percent at its Eastern Henrico plant, according to source at the company. Consequently, pay will fall 10 to 20 percent for workers at the plant.

We don’t need no stinkin’ cars

A new website promotes alternative transportation in the city of Richmond. Howirichmod.com is the brainchild of seven graphic design students at Virginia Commonwealth University’s School of the Arts.

A present to yourself: Early tax prep

It might pay to think a little about your taxes now instead of in April. Mike Gracik, a principal at the Keiter Stephens accounting group, is advising clients to see what expenses they might need for the first couple of months next year – office supplies or vehicle repairs, for example – and buy them… Read more »

In down economy, what will happen to corporate giving?

A rough patch for local companies can presage lean times ahead for local nonprofits. LandAmerica and Circuit City both filed for Chapter 11 Bankruptcy protection in November. Wachovia Securities, another major corporate giver, packed up most of its operations in favor of St. Louis. All three gave away large sums. Both Circuit City and LandAmerica… Read more »

Dipping into their options: How officials lured hummus maker to Va.

Last week, local and state economic developers announced that Sabra Dipping Co. would open a $59 million hummus plant in Chesterfield in 2010. The deal required six months of work by state and local economic development groups and the right mix of incentives. But it was Sabra Dipping that made the first move. Sabra requested… Read more »

LandAmerica files for bankruptcy & sells underwriting units

Title insurer LandAmerica has filed for bankruptcy. Three of its underwriting units will be sold, the company said. The stock is trading at $.20 a share, down 80% from the close yesterday. Fidelity National Financial said it would buy LandAmerica’s underwriting units Lawyers Title Insurance Corp and United Capital Title Insurance Co for $139.4 million…. Read more »