Guest Opinion: Move the Coliseum to the Boulevard

We’re back on the Coliseum debate merry-go-around. The Richmond Times-Dispatch posed this question March 7: "Should city renovate or build new facility?" Nope. And here’s why. The Coliseum is functionally obsolete. The dollars needed to rehab the facility still wouldn't allow it to be competitive, particularly with the John Paul Jones Arena on the UVA campus. Right now JPJ is eating the Coliseum's lunch by attracting the top tier concerts that used to come to the Coliseum. JPJ is new and has over 4,000 more seats than the Coliseum. What the Coliseum has going for it is that the land is valuable and that it sits next to the biotech park. The logical place to relocate the Coliseum to is the Boulevard, adjacent to or near the Diamond. Access would be just as easy as getting to the Diamond. There is an existing parking lot that can accommodate more than 2,000 cars and just might not require a parking deck. That, of course, would depend on scheduling, but for the most part there isn't a conflict with the Diamond from October to April. If the city can relocate its maintenance facility at a reasonable cost, there would be additional land available for parking. There is also the possibility of the Commonwealth either relocating its ABC warehouse/headquarters or providing the building to the city if the ABC stores are privatized,  thereby freeing up additional land.

Guest Opinion: For whom the bell tolls

Our new governor Bob "For Jobs" McDonnell wants to create 29,000 new jobs. Job Czar Lt. Gov. Bolling has been quoted as saying "you've got to spend money to make money."  The only problem is, the state coffers are empty. Still, with 29,000 jobs on the line, surely they will scrape together the money somewhere.

But here's the rub: their plan requires cuts in certain government agencies and functions, which, it is feared, will lead directly to job cuts. So Virginia is now at the point where it has to "break jobs to make jobs" - a zero-sum game. What is to be gained if, as a direct effect of a job creation program, state employees lose their jobs immediately, while the new jobs take time to germinate?  

Guest Column: Do you really want to own your own business?

This column was written as advice for business consultants primarily involved in helping people start franchises, but it is good reading for anyone thinking about starting a new business. The current financial downturn has created, in unprecedented numbers, an abundance of newly unemployed people here in Richmond. Most of these people have had very successful careers in the past and fortunately, many were smart enough to have put away sizable savings over the years. However, as months pass, many are recognizing that the job search is lengthy and the opportunities seem few. Those who were fortunate enough to have a severance package are seeing that source of income winding down and those who are without are seeing their savings dwindle each month. This set of circumstances is leading increasing numbers of these people to look at alternatives to traditional employment with “Owning my own ...

Guest Column: Investing in a college savings plan

And you thought studying for finals was stressful. Try saving for your kids education.

My coauthor Matthew's youngest child was born only a month ago. And already he’s planning – and quite honestly, worrying – about how to pay for college.

I'm withdrawing funds from my final 529 plan to cover tuition for my daughter.

One thing is certain: Over their lifetime, college graduates gross $1 million more in earnings than those without degrees. But paying for it can be daunting, especially if you have to pay all at once. For some families the price tag exceeds the cost of their home. ...

Guest Opinion: Obama’s latest plan might not help

The views expressed in Guest Opinions are those of the author and do not represent BizSense nor BizSense reporters.

The policies coming out of Washington are changing faster than we have time to digest them.

President Obama proposes to allocate $30 billion of unspent stimulus money to support lending to small businesses. This is a nice gesture, but small business needs equity, too.

And although small businesses certainly need access to credit, borrowing is not a good way to start a business from scratch.

Obama also proposed eliminating capital gains tax on the sale of small businesses. This also is good, but many small businesses won't be for sale anytime soon, so it's a moot point.

I'm not a big fan of subsidies or more government involvement in business, but ...

Guest Opinion: Mistakes are the best teacher

Recently an old friend I had not seen for a couple of decades told me about some troubles she had and how she had overcome them.

Later I thought about how much more useful her story was than all those holiday letters I get every year chronicling the new house, junior’s new doctorate degree or the round-the-world trip my friends just finished.

The same is true in business.

Guest Opinion: 7 steps to a millionaire mindset

The views expressed in guest opinions are those of the writers and do not represent Richmond BizSense or RBS reporters.

Financial resolutions usually don't even last until the end of January. Making a permanent change in behavior requires time and a steely resolve to keep up the practice until it becomes habit and finally character. We can only develop financial character one action at a time.

Here are seven practices that will take you from pauper to prince if you add one each year.

If you already practice one of these resolutions, move on to the  next one. Find the first one that isn't already a practice, and make it your resolution for this year. Adding one behavioral change is labor enough for the next 12 months. Share your resolution with everyone you meet. You are 10 times more likely to act on a goal if you have articulated it to someone else. Don't wait until you have everything perfect to take ownership verbally.

Guest Opinion: Rethinking the neighborhood from the safety of my cul-de-sac

I live on a cul-de-sac – that's fancy French for "bottom of the bag." Funny how things with foreign names don’t sound so special when you actually do the translation. We moved there when our children were small because we were sure it was safer from traffic. Other factors in our decision were the excellent school district, the location of our friends and good access to malls and major roads. Confident in our assumptions, we and millions more have eagerly sought and bid up the prices for houses on these curious streets to nowhere. In so doing, we have dramatically changed the patterns of suburban transportation and development, and literally cast in stone a transportation design that, as it turns out, is not really safer after all.

Guest Opinion: Why is Bob Cratchit so poor?

The views expressed in Guest Opinions are those of the authors only and do not represent BizSense or BizSense reporters. The holidays are a time for oft-told tales like Charles Dickens's "A Christmas Carol." Richmonders have the opportunity this month to attend an adaptation of the story at CenterStage or to watch Disney's new 3D animated movie. At first we feel sorry for the Cratchit family, always struggling to make ends meet. Poor Bob Cratchit must work for Ebenezer Scrooge, whose skinflint personality makes him an easy target as the cause of Bob's financial troubles. But despite Bob Cratchit's resentment of his boss, he has no one to blame but himself. Bob Cratchit spends more than he makes. Indeed, the discipline to regularly spend less than you earn is one of the most important life lessons. As a clerk and member of ...

Guest Opinion: Four baby steps for Virginia’s economy

The views expressed in Guest Opinions are those of the author and do not represent BizSense or BizSense reporters. Last month, Bob McDonnell won a landslide victory in his bid for the Virginia governor’s mansion. But by early next year, he may well begin to wish that things had turned out differently. He is inheriting what is probably the worst budget crisis in living memory. In January, the General Assembly will take up consideration of Virginia’s 2010-12 biennial budget.  According to guesstimates, balancing that budget will require closing a $3.5 billion gap between expenditures and revenue. But before we look at ways to cut, let’s examine how this happened. Between September 2008 and September 2009, Virginia’s economy contracted by 114,900 jobs, and our statewide unemployment rate went from 4.1 percent to 6.3 percent (peaking along the way at 7.3 percent in June ...

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