Cemetery goes under; two other companies file bankruptcy

Business bankruptcies skyrocketed this week.

Three businesses have filed for Chapter 11 bankruptcy in the past few days: a cemetery outside Petersburg, a business that ran two gas stations and an excavation company in Chesterfield.

Dinwiddie Memorial Park, which lists Ronald Hess as the president, owes between $500,000 and $1 million. Read more

“Sin” businesses slow for state

Business is slowing at state agencies that make a profit, but both the Virginia Lottery and the Department of Alcohol Beverage Control have some new strategies to get back in growth mode.

And the other departments could use the help. Gov. Tim Kaine has asked state agencies to submit plans with 5, 10, and 15 percent cuts to help balance an anticipated $1.4 billion shortfall.

Although state governments across the country are dealing with slowing lottery revenue – something previously thought inconceivable – Kaine has not issued any directives to the state lottery to squeeze out more profit or boost revenue considerably, and Virginia has not made any quick moves to help out the industry. Read more

Lottery sales dip

Although some people might be feeling poorer and more desperate to win money, sales of scratch and lottery tickets are falling.

The lackluster economy is having a mixed effect on Virginia Lottery sales. Although some people might be feeling poorer and more desperate to win money, sales of scratch and lottery tickets are falling.

So far this fiscal year, which began in July, lottery sales are down about 2 percent.

“Our biggest impact we had was this summer having prolonged high gasoline prices. People who were traditionally buying tickets at convenience stores that were connected to gas pumps may have changed their habits back then,” said Paula Otto, director of the Virginia Lottery. Read more