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 »

The Pipeline: Commercial Real Estate Round Up for 2.27.09

Thalhimer reports Trustworth Properties LLC purchased the 10-unit apartment building at 12 E. Main St. in Richmond for $1 million from Main Street Investments LLC. AECOM Technology Corporation, a multinational environmental consulting firm,  has leased 85,000 square feet at 4840 Cox Road in Henrico. Virginia Schools of Technology leased 31,500 square feet at 2000 Westmoreland… Read more »

New businesses, where art thou?

Businesses usually sprout during recessions – when laid-off workers give entrepreneurship serious thought – but the volume of new businesses in Richmond seems to be declining. Richmond has issued 111 business licenses this year, a 29 percent drop from the first six weeks of 2008, when the city issued 157 licenses. Entrepreneurs are opening the… Read more »

Light shines on DIY solar startup

It’s Mark Smith’s time to bask in the sunshine. Smith, a Boston native, left his job as an engineer at Qimonda in 2004. In 2006, he started Sun Smith Solar, a Richmond-based company that builds and sells photovoltaic solar panels. The first two years were dedicated to research and design; last year, the company started… Read more »

How about a little discount?

Even the marble-encrusted board rooms of Richmond can resemble the flea market these days. Consumers and businesses are haggling for better prices or discounted second or third items, according to a series of Richmond BizSense interviews conducted over the past several weeks. Business owners and managers say it’s a dangerous game, because shoppers will expect… Read more »