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Business Archive

Tell stories, play up good reviews, consultant tells auto dealers in Virginia Beach

VIRGINIA BEACH
Does your business respond to customer emails with a standard "Thank you for your inquiry; someone will be with you shortly"? If you think that's the way to go, you're wrong, a marketing consultant said Friday.

Townebank profit soars in 3rd quarter

Suffolk-based TowneBank posted a $17.6 million profit for the third quarter, which ended Sept. 30, according to a news release issued by the company. The quarterly earnings were 44.9 percent higher than during the same time period in 2014, when the bank earned $12.1 million.

Lumber Liquidators pleads guilty to illegally importing wood harvested in Russia

NORFOLK Toano-based Lumber Liquidators pleaded guilty Thursday to five criminal charges - including one felony - that it illegally imported Mongolian oak from eastern Russia into the United States. A sentencing hearing is set for Feb. 1 in U.S. District Court in Norfolk.

Southern BancShares buys Norfolk-based Heritage Bankshares

NORFOLK
Southern BancShares Inc. of Mount Olive, N.C., has agreed to buy Norfolk-based Heritage Bankshares Inc., parent company of Heritage Bank, the companies said Wednesday.
The agreement must be approved by regulators and Heritage's shareholders, according to a news release.

Job fair to be held next week in Newport News

NEWPORT NEWS The city’s Department of Human Services is sponsoring a job fair next week. The event, from 10 a.m. to 1 p.m. Wednesday, will feature more than 35 companies that are hiring or intend to hire in the near future, a city news release says. The job fair will be held at the Denbigh Community Center, 15198 Warwick Blvd.

Virginia unemployment rate down to 4.3 percent in September

Virginia's unemployment rate fell to 4.3 percent in September, the Virginia Employment Commission said Tuesday. The rate, adjusted for seasonal factors, was at its lowest level since September 2008, when it also was 4.3 percent, Gov. Terry McAuliffe said in a news release.
 

Three Virginia Beach companies expanding with grants

VIRGINIA BEACH
Economic development officials said Tuesday that three of the city's companies are planning to expand.
Back Bay Brewing Co., Stock Design and Machine Inc., and Trident Security and Holdings, which operates as 215 Gear, plan to make capital investments in exchange for incentives, according to a news release from the city.

Study: Big business reaps big incentives

A nonprofit focused on government accountability in economic development is expected to release a report today that shows big businesses receive a disproportionate amount of the incentives offered by programs in Virginia and about a dozen other states.

Port sees increase in empty containers moving through

NORFOLK The port has seen a spike in the movement of empty containers this year - bigger than its East Coast competitors, though the trend in Hampton Roads is consistent with other large U.S. ports. From January through August, the port handled 40.4 percent more empty containers, as measured in standard 20-foot units, or TEUs, than it did in the same period last year.

Cradock neighborhood getting a facelift with new homes for sale

PORTSMOUTH Cradock, a historic neighborhood built nearly 100 years ago, is getting its first major face-lift in several years. On Monday, Mayor Kenny Wright, general contractor Noah Enterprises Inc. and others attended a ribbon cutting to celebrate four new three- and four-bedroom market-rate homes for sale on Cushing Street.

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