The repo men have been busy in Richmond. And that means more cars for sale at the Richmond Auto Auction, which every Friday sells vehicles to the public. The company is seeing more and more high-end cars, the result of banks that have taken back the keys. And for the banks, some are so new to the process they must call and ask how it’s done.
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NewsFeeds 6.10.09
After 12 quarters, bank turns first profit (Inside Business) A business journal in Hampton Roads has a nice profile of Richmond banker Merlin Henkel, who helped start Virginia Business Bank. Breaking into Richmond can be difficult, Merlin Henkel said, because “a lot of people think Richmond is a little more conservative. I don’t know if… Read more »
No more bottled water for City Hall
Glug…glug…gone. A tight city budget means no more water coolers to congregate around for workers at City Hall. Parched employees will now have to turn to the old-fashioned water fountain to quench their thirst. The city ended its contract with Diamond Springs at the end of May. The company provided bottled water and coffee services… Read more »
Interim dean named at VCU Biz School
David Urban has been named the interim dean at the VCU School of Business.
Too good to be true, but too hard to say no
Perhaps even more than legit businesses, Ponzi schemes rely on the oldest form of marketing: word of mouth.
Biotech company expands in China
Stock in Chesterfield-based Commonwealth Biotechnologies nearly doubled on news that the company is planning to acquire GL Biochem in Shanghai. CBI researches drugs for companies that develop them.
Google it ain’t
Bing, schming. If you need to search the Web, Google is still your best bet. It’s still the easiest to use and handles the dozens of searches most of us perform better than Bing, which Microsoft launched May 28. And for business owners, why mess with a good thing?
NewsFeed 6.09.09
Richmond getting $2 million to buy foreclosed homes (Times-Dispatch) The city of Richmond will receive $2 million to purchase and rehabilitate foreclosed homes for resale to lower-income families. The funding is part of a $17.5 allocation from the Neighborhood Stabilization Program announced yesterday by Gov. Timothy M. Kaine to address the mortgage-foreclosure problem throughout the… Read more »
Massey Supreme Court case sets precedent
A divided U.S. Supreme Court ruled Monday that a West Virginia judge should have recused himself from a trial involving Richmond-based Massey Energy Company. The appeals court judge, Brent Benjamin, received $3 million in support from Massey chief executive Don Blankenship during his campaign to be elected to the state bench. From the Reuters article:… Read more »
Solar firm turns to local farms to grow business
A federal incentive program could forever change the face of Virginia’s agriculture industry by encouraging more farms to install solar energy systems. That’s the hope of Blue Crump, owner of Fan-based Cityspace Construction and Cityspace Solar.