Business

UVA losses down to mere $14 million in Jan.
Published on Mar 3rd, 2009
3 comments After five months of UVA's endowment hemorrhaging more than $1 billion in value, the University of Virginia Investment Management Company reports the loss for January 2009 at around $14.5 million...
Snap o' the day: First sign o' spring?
Published on Mar 2nd, 2009
4 comments Outdoor tables and chairs appeared over the weekend in front of Mudhouse. A portent spring is around the corner– or that rebricking has turned the corner on the west end of the Downtown Mall?
Housing boon: Investors seek guilt-free gain in crisis
Published on Mar 1st, 2009
5 comments Properties like this one on Carlton Road are available on the cheap through foreclosure auctions. But plummeting home prices mean that there's another option that's easier on both the debtor and...
Minor sues Danielson over Landmark Hotel
Published on Feb 27th, 2009
13 comments The financially troubled multi-millionaire fast becoming known for what his opponents blast as preemptive lawsuits has filed another. This time, a Halsey Minor suit has landed right here in...
BizBrief: Body shop opts for enviro-friendly paint
Published on Feb 27th, 2009
2 comments Premo Auto Body, a nearly five-year-old firm operating in Belmont, has become the first in town to offer BASFs "Glasurit 90" line of water-based paints. "That's just safer for the environment, safer...
Advance thrills: Local firm wins bid on 743 bridge
Published on Feb 25th, 2009
7 comments This old bridge carrying Rt. 743 will be scrapped. FILE PHOTO BY ADAM SORENSEN With its bid of just under $2 million, a firm headquartered in downtown Charlottesville is the apparent low bidder for...
BizBrief: Rug Depot to close
Published on Feb 25th, 2009
6 comments Another local business has been hit by the bad economy– Rug Depot on U.S. 29 north across from Wal-Mart. In business for 10 years, the store will close at the end of March, says owner Mahmood...
Staunton completes victory over porn store
Published on Feb 24th, 2009
2 comments In a harsh blow to freedom, but a stunning triumph for what the prosecutor saw as decency, a business shuttered shortly after its owner was convicted of obscenity will not reopen, and the owner will...
Slumdog: Vinegar Hill's thrill
Published on Feb 24th, 2009
0 comments Adam Greenbaum took over Vinegar Hill Theatre last fall and scored a huge hit with Slumdog Millionaire. FILE PHOTO BY JEN FARIELLO While Oscar winning Slumdog Millionaire has made millions of...
Ritz Camera files for Chapter 11
Published on Feb 23rd, 2009
2 comments Bloomberg reports February 23 that the largest camera chain in the U.S. has filed for bankruptcy protection. At the Ritz Camera in Fashion Square Mall, manager Sean Kennedy says his store is staying...
Dying brands: Dealers see past Saturn, Hummer, Saab
Published on Feb 23rd, 2009
4 comments The Saturn Vue, like other Saturn models, will be discontinued after the 2011 model. PHOTO BY DAVID DEFOE/FLICKR First came soaring gas prices; then came economic collapse. Now, news that GM is...
Snap o' the day: Uncle Charlie's R.I.P.
Published on Feb 23rd, 2009
7 comments Crozet's only music venue shut its door February 22 on the corner location whose longest-running business in our memory was a drugstore. Next to try that spot: Mudhouse has a lease, according to an...
Hot tickets: What does music merger mean for Crozet?
Published on Feb 11th, 2009
9 comments MusicToday got its start selling tickets and merchandise for one particular band. FILE PHOTO What does LiveNation's proposed merger with Ticketmaster, announced Tuesday February 10, mean for the...
Out of gas: Historic station sold and closed
Published on Feb 10th, 2009
21 comments Kristy Houchens worked with her dad at Fry's Spring Service Station for 20 years. PHOTO BY LISA PROVENCE The city's only historically protected service station saw the end of a more than 70-year...
Kaine offers stimulus money for citizen proposals
Published on Feb 10th, 2009
0 comments Want a piece of the federal stimulus pie? If so, Gov. Tim Kaine (D) might be able to sate your hunger. Kaine launched a website today calling for Virginians' submissions for how best to spend the...
Train pain: Bus boss says Amtrak could doom Starlight
Published on Feb 7th, 2009
40 comments Kuttner and David New created the Starlight Express. FILE PHOTO BY JEN FARIELLO One of the founders of the Starlight Express linking Charlottesville to New York says his popular bus service might be...
Minor broke? Christie's, Merrill say he's out of cash
Published on Feb 6th, 2009
22 comments Seen here at last April's groundbreaking of the Landmark Hotel, Internet entrepreneur Halsey Minor is now fighting three lawsuits from creditors. FILE PHOTO BY JAY KUHLMANN Is Halsey Minor, the...
Not our fault: Casteen blames feds for UVA's losses
Published on Feb 4th, 2009
29 comments Explaining the university's 25 percent endowment loss, UVA president John Casteen blamed the federal government for "hiding" a recession. PHOTO BY LINDSAY BARNES Less than two months after...
Springsteen tickets still available
Published on Feb 4th, 2009
6 comments It would appear that not even the Boss is immune to the current economic recession. Despite his rousing Super Bowl halftime performance, tickets for Bruce Springsteen and the E Street Band's May 5...
Bleeding from UVA endowment stanched
Published on Feb 3rd, 2009
2 comments After losing a whopping $1.3 billion in five months, the red from UVA's endowment has slowed to a trickle. The University of Virginia Investment Management Company reports a mere $30.5 million in...