An out-of-state brokerage’s bid to buy Anderson Strudwick has been called off.
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NewsFeeds 5.14.09
Suffolk’s First Bankshares agrees to combine with Xenith (Virginian-Pilot) Richmond’s Xenith Bank began working more than a year ago to organize a new, state-chartered bank, but its efforts were thwarted by turmoil in the financial markets in the fall, Layfield said. Instead of trying to start a bank, Xenith decided to acquire one and approached… Read more »
Dry cleaner goes pro bono for jobless
If you can’t find a job, at least you can have a clean suit. Puritan Cleaners is offering free dry cleaning to unemployed workers through the end of August. Customers who bring a letter from the Virginia Unemployment Commission or their previous employer can have a suit and two dress shirts, or two regular dresses,… Read more »
Hurry up and wait: How much will LandAmerica’s 1031 customers recover?
The saga keeps getting worse for 450 former LandAmerica customers who last fall tried to complete a simple real estate deal and now can’t get funds they thought would be safely held for a few months by the formerly Richmond-based Fortune 1,000 company.
NewsFeeds 5.13.09
Bankruptcy judge approves S&K sale (Times-Dispatch) S&K Famous Brands Inc. is close to ending its storied run after a bankruptcy judge approved its sale yesterday after testimony from a company executive that the retailer could be out of money by the middle of June. Massey’s Dark Side (Style Weekly) Another phenomenal article by Peter Galuszka:… Read more »
Circuit City back on-line?
Systemax, Inc. has won a bankruptcy auction to acquire Circuity City’s intellectual property and its e-commerce business, according to a Reuters. The deal is still subject to approval by the bankruptcy court in Richmond, which is scheduled to decide tomorrow. Systemax, which also owns CompUSA and TigerDirect, originally offered a bid of $6.5 million plus… Read more »
The wrong baseball debate
The debate about bringing baseball back to Richmond somehow got sidetracked into a tangential spin cycle.
CarMax tests ads on Hulu
Earlier this month, locally based used car retailer CarMax started advertising with TV shows that stream online.
NewsFeeds 5.12.09
Norfolk condo project in question after manager departs (Virginian-Pilot) The future of the Harbor Walk condominium project in Ocean View is in question after the local manager for the Florida-based developer suddenly departed days after the developer canceled a homeowner meeting about the use of defective Chinese-made drywall there. Ponzi defendant pleads guilty (Daily Progress)… Read more »
Baseball team purchase in limbo
The purchase of the Class AA Norwich Connecticut Defenders baseball team by the Richmond Baseball Club seems to be undergoing a delay of game. Norwich’s local paper The Day reported yesterday that there is no closing date scheduled for the deal, which current Defenders owner Lou DiBella said was “imminent” in early April. The sale… Read more »