News

Down but not out

A longtime local real estate developer is dealing with the boom-bust hangover, battling with former investors and banks and stepping down temporarily as chairman of a real estate development that bears his name.

Virginia Business Bank tries to break out of holding pattern

After almost eight months of operating under a strict regulatory turnaround/survival plan and having moved on to its third president since the fall, a Richmond-based bank has rethought its plan and might reinvent itself if it can secure a fresh round of capital.

The meter’s running

Mike Scelzi hopes property owners are as obsessed with watching the meter as he is. His young company, Net Metering Inc., offers a system that allows commercial property owners to constantly monitor the electrical consumption of their buildings with the hopes of catching spikes in activity and ultimately saving money.

Making bank, plus a bonus

Fresh off a year of big losses, Community Bankers Trust Corp., a local bank holding company and parent of Essex Bank, increased the base salaries and total compensation of many of its top executives in 2009, according to its latest SEC filing.

Office Sense: Beerland

Office Sense is back. This week we cool off in the Brown Distributing fridges. The local distributor moved into a new facility a year and a half ago.