Business is like dating

“What time will you be home.”  It's a sentence, not a question: She knows very well I’ll be home at nine, if not way later. “Uh,” I hesitate, “nine?”  It’s a question, but should be a sentence: I know very well I’ll be home at nine, if not way later. As is the case with all of us in these crazy little things, the biggest cause of all those little tiffs in my relationship happens to be a great source of personal enjoyment.   Networking is great.  I love it, but of course, it also means less time at home.

Richmond hotels still offering freebies

As hotels across the country downsize their staffs and cut back on freebies such as cookies at the front desk and 24-hour coffee, a handful of Richmond’s high-end hotels are dishing out the complimentary goodies.

Newsfeeds For 1.30.2009

Va. jobless rate at 13-year high (Times-Dispatch) Virginia's unemployment rate spiked to 5.2 percent in December, hitting its highest point in nearly 13 years. Va. lawmakers push to limit investments in Iran (Virginian-Pilot) The U.S. government calls Iran the world’s most active state sponsor of terrorism. Virginia’s public retirement system calls it, indirectly, an investment. The connection is relatively small. About 3 percent of the pension fund’s roughly $42 billion is in 30 companies that are partially invested in Iran’s oil sector. Some state legislators say that’s too much. Textile dyeing company is closing (Roanoke Times) Fred Whitaker Co. will shut its doors on March 31, laying off all of its 136 employees. Executives of the Roanoke industrial textile dye company made the announcement Wednesday, telling employees that the business was no longer viable. Consumers cut credit payments, struggle to pay bills (USA Today) Consumers are dramatically scaling back how much of their credit card balances they pay each month. Data released this month show that the credit card payment rate — the percentage of outstanding card debt paid — fell by 2.5 percentage points to 16.1%. The drop in November, the latest month available, is among the largest on record, according to CardTrak.com, a credit card research firm. Economy Pinches the Billable Hour at Law Firms (NY Times) Lawyers are having trouble defending the most basic yardstick of the legal business — the billable hour. Clients have complained for years that the practice of billing for each hour worked can encourage law firms to prolong a client’s problem rather than solve it. But the rough economic climate is making clients more demanding, leading many law firms to rethink their business model. The Art of Alliances (Entrepreneur) Whenever I consider new strategic alliances or expansion opportunities, I look for three things: good partners, good financing and good management. Whether we're looking for investors, partners or vendors, we weigh their experience, expertise, track record and character. The quality of the businesses or individuals we align with directly affects our future.

Sale of Anderson Strudwick on hold

Updated 12:04 p.m. Wunderlich Securities is back at the bargaining table to buy Richmond investment bank/brokerage Anderson Strudwick, likely for a lower price.

Office vacancy up at Innsbrook, down in the City

The vacancy rate at Innsbrook and nearby office parks continued to rise last quarter, and, with several big chunks set to come available this year.

The Pipeline: Commercial Real Estate Round Up for 1.29.08

The Citgo service station at 2206 W. Main St. in Richmond’s Fan District has been purchased by Uphoff Properties LLC from TLC Co. for $2.5 million. The property includes a retail store of 2,700 square feet and a half acre lot.

Lawmakers seek to close lending loophole

It’s déjà vu all over again for payday lenders. Sen. Mark Herring (D-Leesburg) on Thursday introduced a bill that would tighten controls on car-title lenders and prevent payday lenders from evading regulations imposed in 2008.

Rally Caps: The Monday Q&A with Bryan Bostic

Bryan Bostic thinks he has pitched Richmond the sort of deal it can knock out of the park: a $60 million stadium that seats 7,500 and brings professional baseball back to Richmond with almost no public spending. And the 47-year-old is working more than 45 hours a week to convince Richmond’s various interest groups that baseball belongs in Shockoe Bottom. (He has already spent seven years and several hundred thousand dollars.) And now it’s crunch time for him and his crew of potential owners. The deadline to buy a team is in early March.

Solar startup ready for sunrise on incentives

On a cold winter day, Bernie Stanley of Shockoe Solar puts the finishing touches on a solar panel array atop a veterinarian clinic in Glen Allen. Stanley, as far as he knows, is the only solar panel installer in Central Virginia. But that could change if Gov. Tim Kaine’s proposal to give businesses and residents a tax credit for going solar is approved by the General Assembly.

Real estate lawyer leaves Richmond firm for North Carolina

Elaine R. Jordan, a shareholder of the law firm Sands Anderson Marks & Miller, has left Richmond for a job with the Coastal Companies of North Carolina. In a news release, Jordan said, “This opportunity developed from the close working relationship that I and the firm have built with Coastal over the past years.” “I am excited to take on the full range of legal and business issues that a large real estate conglomerate such as Coastal must deal with, and am counting on Sands Anderson to provide necessary support.” Jordan went to law school at the University of Virginia.

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