Foreclosures illustrate mortgage meltdown (Times-Dispatch) The brief proceeding on an overcast late-winter afternoon was a microcosm of the current state of the nation’s housing crisis. It reflected the dying hopes of one family, the Bangs, who were never told of their home’s reprieve at the auction. Still facing big bills with little work available, they… Read more »
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Q & A: Que Pasa Hispanic Biz?
Michel Zajur started the Virginia Hispanic Chamber of Commerce in 2000 to serve the business needs of the growing immigrant population. It is still growing, but just like everyone else, the Hispanic-community is dealing with mounting job losses and a slow business environment. BizSense has heard from construction companies that some laborers are leaving the… Read more »
Guest Opinion: The Outlook Calendar Index is Improving
The views expressed in Guest Opinions represent only those of the author and are in no way endorsed by Richmond BizSense or any BizSense staff member. It might not be the kind of economic indicator that is quoted in the Wall Street Journal, but I think my appointment calendar for the past few months suggests… Read more »
NewsFeeds 3.13.09
Toad’s Place owner discusses closing (Times-Dispatch) Charles Joyner said yesterday that his investment group, Turning Point Development, has no intention of being involved with the venue any longer. So the business will remain closed. Local man charged in Ponzi scheme (Daily Progress) Editor’s Pick: An Albemarle County man is facing civil and criminal charges in… Read more »
The music stops for Plan 9 in Harrisonburg
Rock and roll will never die, but music stores do. Plan 9 is closing their Harrisonburg store at the end of the month, according to the Daily News Record. Compact discs were still king, and you could even still buy cassette tapes when the Richmond-based music store opened the Harrisonburg location in the mid-1990s. Now… Read more »
NewsFeeds 3.12.09
Va. unemployment rate accelerates, hits 17-year high (Times-Dispatch) Virginia’s jobless rate in January rose to its highest level in nearly 17 years as an increasing number of the state’s employers laid off workers as the recession worsened. Sun sets on wild west of lending (Inside Business) (Free once you register) Despite the negative public response… Read more »
Survey says companies are cutting pay
This may not be the year to ask for a raise. More than 62 percent of companies in Richmond have reduced staff costs in response to the economic downturn, according to a recent survey.
NewsFeeds 3.11.09
Large law firms cutting pay for first-year attorneys (Chicago Tribune) McGuireWoods LLP confirmed Monday that it will cut pay for first-year attorneys by 10 percent. In its Chicago office, the class of 2009 will make $144,000, down from $160,000. Other firms are expected to follow suit.In Baltimore, Richmond and other smaller markets, McGuireWoods cut first-year… Read more »
Richmond Baseball Club set to take over Defender’s lease
Last month, Bryan Bostic of Richmond Baseball Club LC announced they planned to buy a AA baseball team in Connecticut to replace the AAA Richmond Braves. Their plan to buy the Connecticut Defenders is closer to becoming a reality, despite no guarantee that the stadium slated for Shockoe Bottom will be built. According to local newspaper The Day,… Read more »
Fresh out of law school with less pay
Pay for new lawyers is dropping at one Richmond law firm. According to a story in the Chicago Tribune, Richmond-based law firm McGuireWoods is lowering its starting salaries for new associates in Richmond from $145,000 to $130,000. RBS has heard for several months that law firms are having a harder time collecting from businesses, and… Read more »