Altria, the parent company of Philip Morris USA, has started offering buyout packages to what might amount to 30 percent to 50 percent of the tobacco giant’s employees, including those in Virginia.
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No position safe at Circuit City
Five hundred eighty-eight. That is the number of employees Circuit City laid off Friday. From account executive to visual merchandiser, the company axed positions in seemingly every department and every level of employment, according to paperwork filed with the state.
Circuit City files for Chapter 11 Bankruptcy
Circuit City Stores has filed for Chapter 11 Bankruptcy protection. The company will go before the bankruptcy court today in an expedited hearing. BizSense has also obtained the letter sent to employees this morning.
LandAmerica to be sold
Updated 10:10 a.m.: LandAmerica, the struggling Glen-Allen-based title insurance company has agreed to sell itself to Fidelity National Financial in a stock deal valued at about $128.4 million.
Circuit City lays off hundreds
Updated: 9:52 a.m. Electronics retailer Circuit City laid off as many as 1,000 employees at their corporate headquarters in Henrico this morning, according to an employee inside the company. The Times-Dispatch is reporting that the number is between 600 and 1,000.
Read about it in my book
Blog schmog: Read about it in my book Writing a book remains a popular pastime and calculated strategy for local business leaders. For some, authoring a book – with or without a ghostwriter – is a way to demonstrate expertise and establish street cred to promote consulting. For others it’s a ticket to the speaking… Read more »
Gun dealers aim for big profits
Gun and ammo dealers will be counting extra profits this week; the election of Barack Obama is driving sales at gun shops from coast to coast. Frightened that Obama will infringe or restrict Second Amendment rights, buyers are stocking up on firearms, especially assault-type rifles that were banned during the Clinton Administration but became available… Read more »
Obama in, gun sales up??
Fears that an Obama presidency will place tighter restrictions on gun ownership have boosted sales at local gun stores, according to Richmond area firearm dealers. Almost all of the shops BizSense called said they saw increased sales leading up to Election Day. Workers at DeGoff’s Guns in Mechanicsville and Green Top Sporting Goods in Glen… Read more »
LandAmerica postpones release of earnings
LandAmerica has postponed the release of its third quarter earnings, in what is likely an ominous sign for the struggling Glen Allen-based title insurance company. “The release has been delayed to allow LandAmerica additional time to complete the preparation and review of its financial statements for the third quarter ended September 30, 2008,” the company… Read more »
Utility contractor to cut 50 jobs, close office
UtiliQuest, an Atlanta-based utility services company, is closing its Richmond office; 53 employees will lose their jobs, according to notice given to the state’s dislocated worker unit. The company’s Chesapeake office is also slated to close, affecting an additional 60 employees. UtiliQuest operates more than 50 offices nationwide, including three other Virginia offices in Fairfax,… Read more »