Business

Paper mill ends copy paper production

Sat, 07 Nov 2009 22:40:45 -0500

The No. 6 machine at International Paper's mill outside Franklin ran for the final time Saturday, but its workers will remain in other capacities at the plant through the end of the year, a company spokesman said Friday.

Q&A with Richard N. Knapp of Norfolk International Terminals

Sat, 07 Nov 2009 22:35:31 -0500

The son of a Portsmouth shipyard worker, Richard N. Knapp didn't find the waterfront all that enticing. After earning an engineering degree from Virginia Tech, he entered the Air Force, serving four years, including one in Vietnam.

Church leases Goodwill building to hold services

Sat, 07 Nov 2009 22:30:41 -0500

Hebron Cornerstone Church International has leased a 34,400-square-foot building in Virginia Beach to hold church services, operate a child day-care center and use as a training facility, S.L. Nusbaum Realty Co. announced. The property at 5565 Virginia Beach Blvd. most recently housed a Goodwill Industries thrift store. It had been built for a Mars Music store.

Shuttered factories pose big challenges for communities

Sat, 07 Nov 2009 22:23:54 -0500

After the wood chippers go still and the boilers cool, the International Paper mill outside of Franklin will join a growing list of closed local factories. Nearly 4 million square feet of factory space across the region is dormant or scheduled to close, not including International Paper's plant, which will add hundreds of thousands of square feet to the market when it closes next spring.

Franklin paper mill closure to shrink tax coffers

Sat, 07 Nov 2009 21:09:36 -0500

For now, International Paper Co. is one of the largest taxpayers in Isle of Wight County, and the children of some of its employees attend the relatively small school system in Franklin.

ODU fans bring nearby shops business

Fri, 06 Nov 2009 23:00:59 -0500

By Jaedda Armstrong and Philip Walzer NORFOLK Perfectly Frank, a hot dog and hamburger joint near Old Dominion University, was packed. Every table and nearly every seat at the counter was taken. Plus three tables outside. Same for Boar's Nest Bar & Deli down the street.

TowneBank's profit rises 11% as deposits continue to grow

Fri, 06 Nov 2009 21:58:35 -0500

TowneBank reported Thursday that its net income rose 11 percent to $7.1 million in the quarter ended Sept. 30, up from $6.4 million in July-to-September last year.

U.S. jobless rate tops 10 percent for first time since '83

Cindy.Clayton — Fri, 06 Nov 2009 09:50:10 -0500

By Christopher S. Rugaber WASHINGTON The U.S. unemployment rate has surpassed 10 percent for the first time since 1983 — and is likely to go higher.

Price war between Walmart and Amazon now extends to DVDs

Chris.Dinsmore — Fri, 06 Nov 2009 09:47:54 -0500

Wal-Mart Stores Inc. is upping the ante heading into the holiday season, trimming the online preorder prices of some upcoming DVDs following last month’s price cut on books. The move led rivals Amazon.com Inc. and Target Corp. to reduce the prices of some online preorder DVDs, which pushed Wal-Mart to take a few more cents off its offerings.

Dominion Virginia Power agrees to lower rates, give refunds

Thu, 05 Nov 2009 23:13:21 -0500

Dominion Virginia Power has agreed to drop a group of requested rate increases and refund customers more than $129 million under an arrangement with the Virginia attorney general's office.