RIR gets ready for May race weekend
April 30, 2009 by admin · Leave a Comment
Swine Flu Flashback
The Centers for Disease Control and Prevention is calling it the swine flu, and the nomenclature is a thorn in the side of the global pork industry.
In Virginia, Smithfield Foods could take a major hit from pandemic fears over the deadly strain of the influenza virus because of the misconception that the sickness could be contracted by eating pork.
The pork industry is pushing the CDC and other health agencies to change the name to something less innocuous, such as “North American flu,” “Mexican flu,” or the clunky scientific name “H1N1 flu.”
Even Virginia has released statement that pork is safe to eat, Smithfield’s stock has been downgraded by analysts who say swine flu fallout could impact the company’s restructuring if demand plunges and trade bans are established.
The Ethicurean has a more extensive roundup about the naming controversey ...
Mixed-use development planned for Cary and Meadow
April 30, 2009 by Al Harris · 4 Comments
A mid-rise building for residential and retail use has been proposed for the northeast corner of Cary and Meadow streets in the Fan.
A BP service station and coin laundry currently operate at the site, but West Cary Street Planning Committee chairman Ed Eck has produced a plan to build a three- to five-story residential complex with street level retail space on the site.
“Right now, the committee’s number one priority is to develop the corner where the service station is,” Eck said.
The West Cary committee is a group of residents and businesses that have worked to improve conditions along the five-block stretch of Cary Street east of Meadow Street for the past 18 years.
There are two designs for the building, one an L-shaped layout and a higher density U-shaped layout. The building would add between 65 and 84 residential units and include ...
Small biz owners seek SBA loan help
April 30, 2009 by Andy Taylor · 2 Comments
Bernie Katz, Robert White and Michael Bucci have something in common.
They all own small businesses and have had difficult experiences with bank financing.
That prompted them to show up for a Wednesday morning meeting to help small businesses survive the economic downturn.
They were among about 60 small-business owners at the meeting at the Old Dominion Electric Cooperative building in Innsbrook that was sponsored by U.S. Rep. Eric Cantor and the Small Business Administration. Speakers from various organizations that help small businesses and a tax attorney told them ways to try to get government guaranteed financing and other assistance.
Katz, who owns BJ Motors in Crozier, Va., said he was very frustrated with his bank and wanted to find help with new financing through the SBA.
His business is eight-years-old and deals in ...Newsfeeds 4.30.09
April 30, 2009 by admin · Leave a Comment
Richmond Fed on southeast stadium growth
April 29, 2009 by Al Harris · Leave a Comment
The Richmond Federal Reserve's quarterly magazine about the Fifth District economy, Region Focus, came out this week with an article about the surge of baseball stadiums being built or proposed in the region.
The article, "Ballpark Boom," mentions the Highwoods Properties proposal to build a stadium in Shockoe Bottom. It also brings up points on both sides at to whether stadium complexes are good economic generators.
From the article:
Winston-Salem and Richmond are following a path Cleveland State University urban affairs professor and sports economist Mark Rosentraub advocates. “In more cases, these mixed-use developments have produced success,” he says.
“A sports facility is a very large capital asset,” Rosentraub says. “No one would buy or place a large capital asset in a specific location without a strategy.”
And on the other hand:
There are other ways to develop downtown areas than by stadiums, says Dennis Coates, an economics ...
Hotel bookings in the pits for race weekend
April 29, 2009 by Al Harris · 2 Comments
Hotels across the metro region have dropped rates to lure NASCAR fans to Saturday night’s race at Richmond International Raceway.
But even at lower prices, hotel managers expect to have plenty of empty rooms.
“Quite honestly, I think the economy has really impacted people’s decision to come to the race this year,” said Fritz Schwartz, general manager of the Westin Richmond in the West End.
Schwartz said there has been very little response to Westin’s special offer; the hotel is offering rooms for $179 during NASCAR weekend, about 5 percent off the regular rate.
This is the first race weekend for the Westin, which opened in December. Schwartz said the hotel had originally planned to charge $299 a room this weekend, but like many other hotels decided to drop the high premium normally associated with Richmond’s semiannual race.
“It’s not so much about dropping the ...
Restaurants forced to chomp away at prices
April 29, 2009 by Andy Taylor · Leave a Comment
Five is the magic number.
First it was the $5 footlong at Subway. Now T.G.I. Friday’s is going on the offensive with its own $5 meal.
Starting Monday, Friday’s will offer all salads and sandwiches for $5 during the month of May.
These days, restaurants are using cheaper prices as a tool to take a bite out of the recession.
“It’s not just Friday’s, everybody’s doing it,” said Bill Vaughn, chief executive officer for the United Restaurant Group, which owns six T.G.I. Friday’s in the Richmond market and 32 along the East Coast. “Casual dining is working very, very hard to drive traffic.”
In addition to Subway and Friday’s, Chili’s has reduced prices, and Quiznos is offering a $4 footlong.
Gerrard “Smitty” Smith, assistant manager at Applebee’s at Short Pump, said his restaurant is offering numerous price incentives to bring customers in.
Customers who spend $15 are given ...
Newsfeeds 4.29.09
April 29, 2009 by admin · Leave a Comment
VDOT cutting 230 jobs, 90 in Richmond
April 28, 2009 by Al Harris · Leave a Comment
The Virginia Department of Transportation announced that it will lay off 230 employees throughout the commonwealth. The cuts go into effect June 6.
Spokesman Jeffrey Caldwell said that 63 of the cuts are at the central office and that 27 cuts are in the Richmond district for a total of 90 positions in the area.
The cuts are part of an agency effort to address a $2.6 billion shortfall in transportation revenue over a six-year period. The layoffs complete the planned elimination of 450 wage positions.
Employees will receive job search and resume writing assistance.
Read the official announcement here. 
