At least three Richmond investment firms are having trouble retrieving client money from investments that were thought to be short-term and low-risk. Individuals and businesses that invest with Davenport & Company, Charles Schwab and Wachovia Securities might be unable to access money from certain mutual funds that invest in municipal bonds, also known as auction-rate… Read more »
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Ode to the Vending Machine. In B Minor.
In the world of casual Fridays and awkward going-away parties, there is no friend more loyal to the office worker than the vending machine. It’s like a husky pal who’s always up for ordering pizza. It doesn’t discriminate, dropping chips, chocolate bars and mini muffins into the waiting hands of mailroom clerks and CFOs alike.
BizSense makeover
We just launched a new version of the website, and boy are my arms tired. The new site has tons of extra features, many of which are too nerdy to discuss here. The BizWire lets any Richmond business (with a membership) to share news about itself. We’ll also be adding video and podcasts to our… Read more »
Lower your chances of pulling a retirement goose-egg
It seems some lessons need constant repeating. You’d think the fall of Enron and WorldCom taught investors a valuable lesson in the dangers of having too much of their company-sponsored retirement plan in company stock. But judging by what appears to be the pending demise of Bear Stearns, whose stock plummeted from $160 per share… Read more »
The “Recesion-Proof” Myth
When I ask small business owners if they’re seeing a slowdown, I’m told that invoices are taking longer to get paid, that expansion plans are getting put on hold, or that new contracts are slower in coming than in the past. Construction and auto dealers so far appear to be suffering the most. But any… Read more »
Wanna Trade: bartering can help conserve cash
Most business owners have at least a few good yarns to tell about a trade gone screwy (possibly involving a goat, if you’re lucky). No hard statistics exist on the volume of bartered transactions because much of it is off the books. One accountant said it happens, “all the time.” Sometimes Scott Brown likes to… Read more »
Managing Expectations: how local wealth advisors steer clients through rough seas
whenever the stock markets take a dip, Chris Williams, Director of Investment Products and Services at Virginia Asset Management, likes to tell the story about the guy who would always impulsively buy a stock at the market peak and ride it all the way to the bottom and then sell everything, ending up with a… Read more »
Begging for donations leave a bad taste in patron’s mouth
Next week restaurants around Richmond will be asking patrons who order tap water to donate $1 to The United Nations Children’s Fund, commonly known as UNICEF. VCU BrandCenter is promoting the event, called Richmond Tap Project . In their push to be creative, the BrandCenter effort shows a lack of understanding about incentives and basic… Read more »
Follow the Model
Igor Jekauc often wishes he didn’t have to fork over 19% of his annual revenue, but he says he wouldn’t have been able to open a tax preparation business without Liberty Tax Service’s business model and support system. A computer software that allows Jekauc to instantly issue tax return checks to customers was essential –… Read more »
Henrico Goes to Korea
Ten Henrico County officials will travel to South Korea in May to learn from the growing metropolis of Yangju, and to promote Henrico to Korean businesses As part of the trip, Fred Agostino, head of the Henrico County Economic Development Authority, might also visit Tokyo, Beijing, and Shanghai (Henrico has an economic development office there),… Read more »