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    <title>Business News for Richmond Times-Dispatch</title>
    <link>http://www.timesdispatch.com/rtd/business/</link>
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        <title>Business News for Richmond Times-Dispatch</title>
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    <description></description>
    <dc:language>en</dc:language>
    <dc:creator>Richmond Times-Dispatch</dc:creator>
    <dc:rights>Copyright 2009</dc:rights>
    <dc:date>2009-07-05T00:49:35-05:00</dc:date>

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          <title>Crutchfield Corp. surviving recession with multistep approach</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/CRUT05_20090704-194604/278048/</link>
          <description><![CDATA[
Crutchfield Corp. is finding its way through another recession, deeply cutting costs and trimming employee pay but avoiding layoffs. The Albemarle County-based company, now in its 35th year, also squeezed out a profit, and CEO Bill Crutchfield is optimistic as sales have begun to grow again. A new three-tier online business model to be rolled out in coming weeks and months has him eager and enthusiastic.           ]]></description>
          <pubDate>Sun, 05 Jul 2009 00:01:46 EDT</pubDate>
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          <title>3north diversifies to blunt effects of economy</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/NORT05_20090704-194804/278057/</link>
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When an economic recession takes a kick at your business, a seven-legged stool is much harder to knock down than a three-legged stool. That&#8217;s how one partner with the Richmond-based architectural and design firm 3north described the company&#8217;s approach to sustainable business. &#8220;In prior downturns, residential work really helped carry us through,&#8220; said Jay Hugo, one of the four principals in the firm that was founded in 2000.           ]]></description>
          <pubDate>Sun, 05 Jul 2009 00:01:33 EDT</pubDate>
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          <title>MeadWestvaco building nears completion in Richmond</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/E-MEAD05_20090704-213002/278095/</link>
          <description><![CDATA[
Downtown Richmond&#8217;s newest office tower, soon to be the home of packaging company MeadWestvaco Corp., is progressing toward a fall completion. The gleaming exteriors are finished on the nine-story building overlooking the James River between Fifth and Seventh streets, next to the Federal Reserve Bank of Richmond. MeadWestvaco&#8217;s brand logo&#8212;the letters &#8220;MWV&#8221;&#8212;is visible at the top of the building, which is lit at night. The interior structural work, such as elevators and wiring, also is essentially done, developers said.           ]]></description>
          <pubDate>Sun, 05 Jul 2009 00:01:28 EDT</pubDate>
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          <title>Banks continue to raise rates ahead of new credit&#45;card law</title>
          <link>http://www.timesdispatch.com/rtd/business/national_international/article/CRED05_20090704-194604/278047/</link>
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Credit-card reform may be looming in the headlines, but for now the fine print is still hitting consumers hard. Banks keep raising minimum payments, interest rates and fees, continuing the credit tightening that began last year, even as cardholders are falling further behind on their payments. The rate at which banks are writing off card debt as unpaid jumped to 10.6 percent in May, up more than 65 percent in a year and the highest rate since 1989, according to Moody&#8217;s Investors Service.           ]]></description>
          <pubDate>Sun, 05 Jul 2009 00:01:20 EDT</pubDate>
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          <title>Credit card reforms coming next year</title>
          <link>http://www.timesdispatch.com/rtd/business/columnists/article/IRIS05_20090704-194804/278056/</link>
          <description><![CDATA[
Changes in credit cards coming in Feb. Planning on getting a credit card before industry reforms kick in next February? Consider using the guidelines in Bankrate.com&#8217;s credit card study released Monday. In May, Bankrate studied the small print of 20 platinum and rewards cards issued by 10 credit card companies. The issuers are American Express Co., Bank of America Corp., Capital One Financial Corp., JP Morgan Chase &amp; Co., Citibank N.A., Discover Bank, First National Bank of Omaha, USAA Federal Savings Bank, U.S. Bank and Wells Fargo.           ]]></description>
          <pubDate>Sun, 05 Jul 2009 00:01:19 EDT</pubDate>
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          <title>MOUNTAIN OF DEBT: Rising debt may be next crisis</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/mountain_of_debt_rising_debt_may_be_next_crisis/277930/</link>
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WASHINGTON (AP)&#8212;The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It&#8217;s the national debt. The country first got into debt to help pay for the Revolutionary War. Growing ever since, the debt stands today at a staggering $11.5 trillion - equivalent to over $37,000 for each and every American. And it&#8217;s expanding by over $1 trillion a year.

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          <pubDate>Sat, 04 Jul 2009 00:01:10 EDT</pubDate>
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          <title>Colorado company offers banana coffins</title>
          <link>http://hosted.ap.org/dynamic/stories/U/US_BANANA_COFFINS?SITE=VARIT&amp;SECTION=BUSINESS&amp;TEMPLATE=DEFAULT&amp;CTIME=2009&#45;07&#45;03&#45;16&#45;18&#45;05</link>
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DENVER (AP)&#8212;Casket makers catering to natural burials have offered biodegradable coffins made of such materials as recycled newspapers or cardboard. Ecoffins USA, based in Montrose, Colo., is selling caskets made of banana sheaves.           ]]></description>
          <pubDate>Sat, 04 Jul 2009 00:01:09 EDT</pubDate>
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          <title>GM awaits judge&#8217;s ruling on sale plan</title>
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NEW YORK (AP)&#8212;General Motors Corp. may have to wait out the long holiday weekend to learn if its bankruptcy plan is moving forward, after U.S. Judge Robert Gerber adjourned a three-day hearing without indicating when he will rule on GM&#8217;s plan to sell its good assets to a new company.

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          <pubDate>Sat, 04 Jul 2009 00:01:00 EDT</pubDate>
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          <title>Philip Morris to buy South African snuff maker</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-PHIL03_20090702-215605/277738/</link>
          <description><![CDATA[
Philip Morris International Inc., maker of Marlboro and other cigarettes for sale overseas, has agreed to buy a Swedish company&#8217;s South African snuff and pipe-tobacco operations for roughly $222 million. Philip Morris International estimated that Swedish Match South Africa Ltd.&#8216;s products account for about 31 percent of total tobacco consumption in South Africa. The brands involved in the deal, announced yesterday, include Boxer, Best Blend and Taxi.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:52 EDT</pubDate>
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          <title>Employers cut 467,000 jobs in June</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-JOBS03_20090702-215605/277736/</link>
          <description><![CDATA[
Employers cut a larger-than-expected 467,000 jobs in June, and the unemployment rate climbed to a 26-year high of 9.5 percent. Workers also saw weekly wages fall, suggesting Americans will have little appetite to spend and that the economy&#8217;s road to recovery will be bumpy.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:42 EDT</pubDate>
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          <title>AirTran ad campaign soars with nontraditional tack</title>
          <link>http://www.timesdispatch.com/rtd/business/transportation/article/B-MARK03_20090702-215605/277737/</link>
          <description><![CDATA[
A comedian spending a month on an airliner lands at Richmond International Airport. A famous Indy car driver pulls into Richmond International Raceway. Put &#8216;em together and it&#8217;ll be a natural for marketing.
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          <pubDate>Fri, 03 Jul 2009 00:01:38 EDT</pubDate>
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          <title>Jump in factory orders heralded as good sign for economy</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-ECON03_20090702-215806/277744/</link>
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Orders to U.S. factories jumped in May by the largest amount in nearly a year, another sign that the nosedive in manufacturing is nearing an end. The Commerce Department said yesterday that total orders rose 1.2 percent in May, better than the 0.8 percent increase that economists had expected. The April performance was revised slightly lower to a gain of 0.5 percent, from 0.7 percent.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:00 EDT</pubDate>
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          <title>Business Briefs for July 3</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/BBBB03_20090702-215605/277741/</link>
          <description><![CDATA[
A federal appeals court has upheld a decision requiring a subsidiary of Richmond-based Massey Energy Co. to hire union miners at a West Virginia mine. The ruling by the 4th Circuit Court of Appeals affirms a 2008 decision requiring Mammoth Coal to offer jobs to 85 miners. The union miners lost their jobs when Mammoth purchased the Kanawha County mine out of bankruptcy in 2004.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:00 EDT</pubDate>
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          <title>Sony limps into Walkman&#8217;s 30th anniversary</title>
          <link>http://www.timesdispatch.com/rtd/business/local_other/article/B-TOGO03_20090702-215605/277740/</link>
          <description><![CDATA[
TOKYO It was as big as a paperback book and weighed 14 ounces. It wasn&#8217;t cheap, especially for those days, costing $340. But people snatched it up. When the Sony Walkman went on sale 30 years ago, it was shown off by a skateboarder&#8212;illustrating how the portable cassette-tape player delivered music on-the-go. That was a totally innovative idea back in 1979.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:00 EDT</pubDate>
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          <title>SnagAJob.com again ranks among best small firms to work for</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-SNAG03_20090702-215605/277739/</link>
          <description><![CDATA[
Henrico County-based SnagAJob.com is one of the nation&#8217;s best small businesses to work for, according to a human-resource group and a consulting firm. For the second straight year, the company, which operates a job-search Web site, was ranked third-best among businesses that employ up to 250 people. The annual rankings, compiled by the Society for Human Resource Management and the Great Place to Work Institute, include the top 25 small and top 25 medium-sized companies in America.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:00 EDT</pubDate>
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          <title>GM urges judge to approve sale</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-GMGM03_20090702-215605/277734/</link>
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An attorney for General Motors urged a bankruptcy judge yesterday to approve the automaker&#8217;s sale plan, saying that the only other alternative would be a liquidation of the company&#8217;s assets that would have &#8220;horrific&#8221; consequences. But an attorney for a trio of bondholders opposed to General Motors&#8217; sale told the judge to call the government&#8217;s bluff and require the automaker to restructure itself through a more traditional Chapter 11 process instead of through the quick sale of its assets.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:00 EDT</pubDate>
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          <title>Circuit City&#8217;s Canadian operations have been sold</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-CIRC03_20090702-215605/277733/</link>
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Circuit City Stores Inc.&#8216;s Canadian operations have been sold. The defunct consumer-electronics retailer, which had its corporate headquarters in Henrico County, said yesterday that the sale of its InterTAN Canada Ltd. to telecommunications company Bell Canada had been completed. Bell Canada paid $116.8 million, plus $30.3 million for working capital, according to documents filed with the U.S. Securities and Exchange Commission.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:00 EDT</pubDate>
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          <title>M&amp;T Bank names president for central Va.</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-BANK03_20090702-215605/277732/</link>
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Robert &#8220;Hugh&#8221; Newton is the new president of the central Virginia region for M&amp;T Bank. He is based in Richmond. Newton has more than 30 years of banking experience and became part of M&amp;T as the result of a merger with Provident Bank in late May. Newton led the commercial banking group for Provident in Virginia, and continues to lead the same Richmond team of employees that he did with Provident.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:00 EDT</pubDate>
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          <title>Wall Street recap</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/B-WALL03_20090702-212802/277728/</link>
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Jobless data send stocks reeling; Dow loses 223 NEW YORK The stock market found little to celebrate heading into the long holiday weekend. Major stock indexes fell more than 2.6 percent yesterday, pushing the Dow Jones industrials to their lowest level in six weeks, after the government said the unemployment rate hit a 26-year high and employers cut far more jobs than expected.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:00 EDT</pubDate>
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          <title>Some students pursue job path not tied to four&#45;year degree</title>
          <link>http://www.timesdispatch.com/rtd/business/local_other/article/B-ROSN03_20090702-212802/277727/</link>
          <description><![CDATA[
Jacob Golding is doing what he does best. For the 18-year-old recent high school graduate, the recipe for success has revolved around one thing: Technical-school training for a career in electronics engineering. &#8220;I have this built-up passion,&#8220; Golding said. &#8220;It&#8217;s what I want to do.&#8220; The resident of Independence, Mo., is multitasking this summer between handyman work and a restaurant job as he prepares to start classes in August in the business and technology program at Metropolitan Community College.           ]]></description>
          <pubDate>Fri, 03 Jul 2009 00:01:00 EDT</pubDate>
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          <title>Complete Metro Business Calendar for July 6</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/WEEK06_20090702-164802/277667/</link>
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CAREERS MONDAY, JULY 6 Career-Prospectors, http://www.career-prospectors.com, a job-search networking group, meets every Monday at 7:30 a.m. in the conference room at Long &amp; Foster, 9321 Midlothian Turnpike. Details: Michael Soden, (804) 594-7065.&nbsp; FINANCIAL MONDAY, JULY 6 &#8220;Retirement Planning and 401(k) Rollover Options,&#8220; Merrill Lynch and William Kavanagh, noon, Eighth and Main Building, sixth floor. Registration: William Kavanagh, (804) 343-4226.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 16:47:46 EDT</pubDate>
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          <title>Jobless rate climbs to 26&#45;year high of 9.5 percent</title>
          <link>http://hosted.ap.org/dynamic/stories/U/US_ECONOMY?SITE=VARIT&amp;SECTION=BUSINESS&amp;TEMPLATE=DEFAULT&amp;CTIME=2009&#45;07&#45;02&#45;09&#45;16&#45;41</link>
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Employers cut a larger-than-expected 467,000 jobs in June, driving up the unemployment rate and suggesting that the economy&#8217;s road to recovery will be bumpy.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 08:38:42 EDT</pubDate>
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          <title>European Central Bank keeps interest rate at 1 percent</title>
          <link>http://www.timesdispatch.com/rtd/business/national_international/article/european_central_bank_keeps_interest_rate_at_1_percent/277633/</link>
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The European Central Bank left its benchmark interest rate unchanged at 1 percent as it waits to see whether a massive infusion of credit into the banking system will help the euro zone&#8217;s struggling economy.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 08:35:44 EDT</pubDate>
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          <title>Philip Morris to buy Swedish Match South Africa</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/PMGAT02_20090702-074601/277631/</link>
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NEW YORK&#8212;Philip Morris International Inc. said today it has agreed to buy Swedish Match AB&#8217;s South African operations for 1.75 billion South African rand, or roughly $222 million. Swedish Match South Africa Ltd. reported sales of 687 million South African rand last year. Its brands include Boxer, Best Blend and Taxi. Philip Morris estimated that Swedish Match South Africa&#8217;s pipe tobacco and snuff products represent about 31 percent of total tobacco consumption in South Africa.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 07:46:01 EDT</pubDate>
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          <title>Stocks fall as June job losses exceed estimates</title>
          <link>http://hosted.ap.org/dynamic/stories/U/US_WALL_STREET?SITE=VARIT&amp;SECTION=BUSINESS&amp;TEMPLATE=DEFAULT&amp;CTIME=2009&#45;07&#45;02&#45;09&#45;25&#45;16</link>
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The report, one of the most closely watched economic indicators, disappointed investors who had become encouraged by positive signs recently that key areas of the economy including housing and manufacturing were showing modest signs of improvement
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          <pubDate>Thu, 02 Jul 2009 06:52:58 EDT</pubDate>
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          <title>World stock markets lackluster</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/MRKTGAT02_20090702-054201/277619/</link>
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HONG KONG&#8212;Most Asian markets fell today as investors tread cautiously ahead of a key U.S. jobs report expected to show unemployment hit a 26-year-high despite signs of recovery in the world&#8217;s largest economy. European markets opened lower. Markets across Asia zigzagged in thin trade throughout the day before closing mostly lower, suggesting investors were reluctant to place bets for now. Oil prices slipped below $69 a barrel, while the dollar gained modestly against the yen and euro.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 05:42:01 EDT</pubDate>
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          <title>Richmond rates as a hot spot for young professionals</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-RANK02_20090701-215405/277502/</link>
          <description><![CDATA[
When it comes to attractive places for young talent, Richmond is one of the &#8220;mighty micros.&#8220; That&#8217;s how Next Generation Consulting, a Madison, Wis.-based market research firm, characterizes a group of cities.
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          <pubDate>Thu, 02 Jul 2009 00:01:24 EDT</pubDate>
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          <title>Business Briefs for July 2</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/BBBB02_20090701-215405/277504/</link>
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Two Richmond-area executives were among five chief financial officers honored last night at the Virginia CFO Awards banquet. Thomas N. Chewning, who retired June 1 from Dominion Resources Inc., received the top award for CFOs of publicly traded Virginia companies. Fernando Gutierrez of the American Red Cross-Greater Richmond Chapter was named top CFO for small nonprofit organizations with fewer than 100 employees.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 00:01:00 EDT</pubDate>
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          <title>Chain names and Web sites often live on after bankruptcy</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-TOGO02_20090701-215405/277503/</link>
          <description><![CDATA[
Circuit City. Linens&#8217;N Things. Bombay Co. They&#8217;re all out of business, their stores shuttered, many employees laid off. But according to their old Web sites, they&#8217;re all still selling, or planning to sell, the same stuff they always did&#8212;everything from digital picture frames to leopard-print rugs. How can this be? Didn&#8217;t these companies shut down?           ]]></description>
          <pubDate>Thu, 02 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/B-TOGO02_20090701-215405/277503/#When:04:01:00Z</guid>
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         <item>
          <title>Investor increases stake in Media General</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-MGEN02_20090701-215405/277501/</link>
          <description><![CDATA[
Investor Mario J. Gabelli has increased his stake in Media General Inc. to nearly 30 percent of the Richmond-based company&#8217;s Class A shares. Gabelli&#8217;s investment firm, New York-based GAMCO Investors, and other funds it controls now own more than 6.6 million shares, according to a filing with the Securities and Exchange Commission earlier this week.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/B-MGEN02_20090701-215405/277501/#When:04:01:00Z</guid>
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         <item>
          <title>Mortgages offered at less than market rate</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-HOME02_20090701-215405/277499/</link>
          <description><![CDATA[
Central Virginia Bank is offering a below-market interest rate of 4.363 percent on 30-year fixed-rate mortgage loans up to $534,000. But the rate is available only on the purchase of speculative homes financed by the Powhatan County-based bank, any pre-sold home that will be built on a lot financed by the bank and any bank-owned residential real estate.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/B-HOME02_20090701-215405/277499/#When:04:01:00Z</guid>
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         <item>
          <title>New economic data</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-ECON02B_20090701-215405/277497/</link>
          <description><![CDATA[
Construction: falls for seventh time in eight months &nbsp; Pending home sales: edge up            ]]></description>
          <pubDate>Thu, 02 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/B-ECON02B_20090701-215405/277497/#When:04:01:00Z</guid>
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         <item>
          <title>Reports point to a slow economic rebound</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-ECON02_20090701-215405/277496/</link>
          <description><![CDATA[
Brighter news on manufacturing and possibly home sales is offering more hope that the longest recession since World War II is near an end. But with construction and many other segments of the economy still weak and unemployment rising, any rebound likely will be slow. A key gauge of manufacturing showed yesterday that industry activity declined less than expected in June. The Institute of Supply Management&#8217;s manufacturing index posted a 44.8&#8212;the best showing since August, a month before the financial crisis erupted with force.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/B-ECON02_20090701-215405/277496/#When:04:01:00Z</guid>
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         <item>
          <title>Declines in vehicle sales slow in June</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-CARS02_20090701-215405/277495/</link>
          <description><![CDATA[
After a yearlong free fall in the American car market, the decline of sales slowed in June, offering hope to automakers that the bottom has been reached and that shoppers may slowly start returning to showrooms soon. Still, sales were down 7.1 percent from May, which generally is a stronger sales month. Overall, automakers sold 859,847 vehicles in June, a 28 percent drop from the same month last year, according to Autodata Corp.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/B-CARS02_20090701-215405/277495/#When:04:01:00Z</guid>
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         <item>
          <title>Wall Street recap</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/B-WALL02_20090701-202203/277430/</link>
          <description><![CDATA[
Stocks advance on mixed data; jobs report looms NEW YORK Investors kicked off the stock market&#8217;s third quarter with a moderate gain after getting some reassuring data on manufacturing and housing. The Dow Jones industrial average rose by 0.7 percent yesterday, rebounding from the previous day&#8217;s sell-off that was triggered by a drop in consumer confidence. Other indexes made moderate advances as well.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/B-WALL02_20090701-202203/277430/#When:04:01:00Z</guid>
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         <item>
          <title>Summer&#8217;s heat shouldn&#8217;t completely toast your wallet</title>
          <link>http://www.timesdispatch.com/rtd/business/local_other/article/B-JEAN02_20090701-202203/277429/</link>
          <description><![CDATA[
Do you entertain a lot in the summer months? Most people do. We also tend to spend more money when the temperature rises. Planalytics, a business weather intelligence research company, recently released a report indicating that warmer than normal temperatures in May caused more consumers to shop for such items as barbecues, lawn and garden tools, party supplies and food.           ]]></description>
          <pubDate>Thu, 02 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local_other/article/B-JEAN02_20090701-202203/277429/#When:04:01:00Z</guid>
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         <item>
          <title>Manufacturing index, home sales, hint at recovery</title>
          <link>http://hosted.ap.org/dynamic/stories/U/US_ECONOMY?SITE=VARIT&amp;SECTION=BUSINESS&amp;TEMPLATE=DEFAULT&amp;CTIME=2009&#45;07&#45;01&#45;11&#45;12&#45;30</link>
          <description><![CDATA[
A report on manufacturing activity shows the sector contracted less than expected in June, while pending home sales edged up.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 11:21:53 EDT</pubDate>
<guid>http://hosted.ap.org/dynamic/stories/U/US_ECONOMY?SITE=VARIT&amp;SECTION=BUSINESS&amp;TEMPLATE=DEFAULT&amp;CTIME=2009&#45;07&#45;01&#45;11&#45;12&#45;30#When:15:21:53Z</guid>
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         <item>
          <title>Crabtree &amp; Evelyn files for Chapter 11 protection</title>
          <link>http://www.timesdispatch.com/rtd/business/banking/bankruptcies/article/crabtree_evelyn_files_for_chapter_11_protection/277352/</link>
          <description><![CDATA[
Soap and lotion seller Crabtree &amp; Evelyn Ltd. says it filed for Chapter 11 bankruptcy protection on Wednesday, a victim of the slowdown in consumer spending amid the recession.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 11:10:04 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/banking/bankruptcies/article/crabtree_evelyn_files_for_chapter_11_protection/277352/#When:15:10:04Z</guid>
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          <title>Pending home sales up 4th straight month in May</title>
          <link>http://hosted.ap.org/dynamic/stories/P/PENDING_HOME_SALES?SITE=VARIT&amp;SECTION=BUSINESS&amp;TEMPLATE=DEFAULT&amp;CTIME=2009&#45;07&#45;01&#45;10&#45;06&#45;05</link>
          <description><![CDATA[
A Realtors group attributes the increase to lower home prices and the $8,000 first-time homebuyer tax credit that was included in the Obama administration&#8217;s stimulus package.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 10:14:03 EDT</pubDate>
<guid>http://hosted.ap.org/dynamic/stories/P/PENDING_HOME_SALES?SITE=VARIT&amp;SECTION=BUSINESS&amp;TEMPLATE=DEFAULT&amp;CTIME=2009&#45;07&#45;01&#45;10&#45;06&#45;05#When:14:14:03Z</guid>
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          <title>Construction spending falls more than expected in May</title>
          <link>http://www.timesdispatch.com/rtd/business/real_estate/article/SPENDGAT01_20090701-101401/277348/</link>
          <description><![CDATA[
WASHINGTON&#8212;Construction spending fell more than expected in May, a sign the problems facing the nation&#8217;s builders are far from over. The Commerce Department today said construction spending dropped 0.9 percent in May, nearly double the 0.5 percent drop that economists expected. Adding to the signs of weakness, activity in the past two months was revised lower.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 10:14:01 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/real_estate/article/SPENDGAT01_20090701-101401/277348/#When:14:14:01Z</guid>
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         <item>
          <title>Wall Street looks to start third quarter on high note</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/wall_street_looks_to_start_third_quarter_on_high_note/277338/</link>
          <description><![CDATA[
U.S. stock futures are pointing to a higher open as investors await data on the manufacturing and housing industries. 
           ]]></description>
          <pubDate>Wed, 01 Jul 2009 09:12:37 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/wall_street_looks_to_start_third_quarter_on_high_note/277338/#When:13:12:37Z</guid>
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         <item>
          <title>Richmond index rebounds</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-STOX01_20090630-221404/277283/</link>
          <description><![CDATA[
The stocks of the Richmond area&#8217;s largest publicly traded companies rallied in the second quarter but not nearly as much as the national indices. The Richmond index of 20 public companies rose 7.6 percent during the second quarter, which ended yesterday. By comparison, the Dow Jones industrial average rose 11 percent and the S&amp;P 500 index increased 15.2 percent, while the technology-heavy Nasdaq composite shot up 20.1 percent.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:33 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/B-STOX01_20090630-221404/277283/#When:04:01:33Z</guid>
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          <title>May traffic feeds optimism at RIC</title>
          <link>http://www.timesdispatch.com/rtd/business/transportation/article/B-AIRP01_20090630-221404/277277/</link>
          <description><![CDATA[
Richmond International Airport&#8217;s prospects could be looking up. After more than a year of slumping traffic, the recession-driven decline in air travelers using RIC looks like it&#8217;s finally flattening out. Though not prepared to say good times are here again, &#8220;at present it appears that the traffic downturn has leveled off,&#8220; airport spokesman Troy Bell said yesterday.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:28 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/transportation/article/B-AIRP01_20090630-221404/277277/#When:04:01:28Z</guid>
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         <item>
          <title>Medicinal hosiery maker enters Richmond market</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-MEDI01_20090630-221404/277282/</link>
          <description><![CDATA[
Tennessee-based medicinal hosiery maker Fit Rite Medical is making its first foray into the Richmond market with an initial product placement at three area Ukrop&#8217;s grocery stores.            ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:14 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/B-MEDI01_20090630-221404/277282/#When:04:01:14Z</guid>
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         <item>
          <title>Some municipal fireworks shows fall victim to tightening budgets</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-TOGO01_20090630-221404/277285/</link>
          <description><![CDATA[
Lack of bucks means less bang this July Fourth for many cash-strapped cities. Fireworks shows are being canceled or scaled back, mostly in small and midsize cities, as municipalities&#8217; tax revenue dries up with the slow economy and falling home prices. Funding from corporate sponsorships also has fizzled as businesses deal with economic problems of their own.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:06 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/B-TOGO01_20090630-221404/277285/#When:04:01:06Z</guid>
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          <title>Richmond&#45;area jobless rate rises to 8.1 percent</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/JOBS01_20090630-222603/277295/</link>
          <description><![CDATA[
More people in all 10 metropolitan areas in Virginia were unemployed in May than in April, according to a report on joblessness released yesterday. The jobless rate in the Richmond area rose to 8.1 percent in May from 7.5 percent in April, more than double what it was a year ago, according to the Virginia Employment Commission. Seven cities in Virginia, including Richmond, Hopewell, Petersburg and Williamsburg, had double-digit unemployment rates in May.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/JOBS01_20090630-222603/277295/#When:04:01:00Z</guid>
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          <title>Business Briefs for July 1</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/BBBB01_20090630-221602/277287/</link>
          <description><![CDATA[
Henrico County-based Genworth Financial Inc. said it raised $635 million to $730 million in an initial public offering of its Canadian mortgage-insurance subsidiary, Genworth MI Canada Inc. The offering priced 44.7 million shares in Canada at C$19 per share. After the offering&#8217;s anticipated closing next Tuesday, shares of Genworth MI Canada will begin trading on the Toronto Stock Exchange under the symbol MIC, the company said.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/BBBB01_20090630-221602/277287/#When:04:01:00Z</guid>
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          <title>Richmond Index rises in June</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-STOX01G_20090630-221404/277284/</link>
          <description><![CDATA[
Genworth Financial: up 267.89 percent &nbsp; Massey Energy Co.: up 93.08 percent &nbsp; NewMarket Corp.: up 51.99 percent &nbsp; MeadWestvaco Corp.: up 36.86 percent &nbsp; Owens &amp; Minor Inc.: up 32.27 percent &nbsp; James River Coal Co.: up 22.61 percent &nbsp; CarMax Inc.: up 18.17 percent &nbsp; Dynex Capital Inc.: up 16.81 percent            ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:00 EDT</pubDate>
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          <title>First&#45;time home shoppers seek advice</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-HOME01_20090630-221404/277281/</link>
          <description><![CDATA[
After five years living in the Richmond area, Jessica Fulbright has decided the time is right to become a homeowner. &#8220;I don&#8217;t plan on leaving Richmond anytime soon,&#8220; said Fulbright, a 28-year-old restaurant general manager who has been renting for years but started house-hunting just a few weeks ago, motivated by what seems to be a good market for first-time buyers.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:00 EDT</pubDate>
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          <title>Consumer confidence takes a hit</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-ECON01_20090630-221404/277280/</link>
          <description><![CDATA[
Mounting job losses and other economic realities caught up with Americans in June, pushing down a key barometer of consumer sentiment after a streak of gains built on glimmers of hope. Some economists say the reality check offered by yesterday&#8217;s report from the New York-based Conference Board may not augur well for spending in the critical months ahead.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:00 EDT</pubDate>
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          <title>Electric bills going up Sept. 1</title>
          <link>http://www.timesdispatch.com/rtd/business/local_other/article/B-DOMI01_20090630-221404/277279/</link>
          <description><![CDATA[
Dominion Virginia Power customer bills will increase Sept. 1 to pay for the company&#8217;s use of the regional electric transmission system. The State Corporation Commission approved a new surcharge that will boost a typical residential customer&#8217;s bill by $1.20 a month. The electricity company had originally sought a rate increase from the commission that worked out to $1.26 a month for the typical residential subscriber.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local_other/article/B-DOMI01_20090630-221404/277279/#When:04:01:00Z</guid>
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          <title>May market shares for airlines serving Richmond</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-AIRP01G_20090630-221404/277278/</link>
          <description><![CDATA[
Delta: 24.00 percent &nbsp; US Airways: 23.93 percent &nbsp; United: 10.67 percent &nbsp; JetBlue: 10.40 percent &nbsp; American: 9.83 percent &nbsp; AirTran: 9.65 percent &nbsp; Continental: 7.30 percent &nbsp; Northwest: 3.53 percent &nbsp; Air Canada: 0.34 percent            ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/B-AIRP01G_20090630-221404/277278/#When:04:01:00Z</guid>
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         <item>
          <title>Wall Street recap</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/B-WALL01_20090630-204601/277238/</link>
          <description><![CDATA[
Earnings loom as strong quarter ends cautiously NEW YORK Investors carried Wall Street to a remarkable second-quarter performance even though stocks&#8217; big spring rally stalled weeks ago. The Dow Jones industrial average rose 11 percent during the quarter, while the Standard &amp; Poor&#8217;s 500 index surged 15.2 percent. Both indexes logged their first quarterly gains since the third quarter of 2007. The Dow also had its best quarter since 2003 and the S&amp;P 500 its best since 1998.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/B-WALL01_20090630-204601/277238/#When:04:01:00Z</guid>
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         <item>
          <title>Compare this year&#8217;s gains against last year&#8217;s pains</title>
          <link>http://www.timesdispatch.com/rtd/business/local_other/article/B-JAFE01_20090630-204601/277237/</link>
          <description><![CDATA[
With the market in rally mode, a lot of fund investors will venture to open their statements or measure performance when they get their mid-year paperwork. While the numbers will be improved&#8212;the average stock fund is up more than 6 percent year to date&#8212;the emotions they raise will go to two extremes. Fund investors will either feel better about their portfolio because of its bounce-back, or will feel even more frustrated about their investments because their duck-and-recover financial strategy isn&#8217;t working fast enough.           ]]></description>
          <pubDate>Wed, 01 Jul 2009 00:01:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local_other/article/B-JAFE01_20090630-204601/277237/#When:04:01:00Z</guid>
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          <title>Regulators set surcharge for Dominion power customers</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/regulators_set_surcharge_for_dominion_power_customers/277188/</link>
          <description><![CDATA[
The State Corporation Commission sets the new surcharge to help Dominion recover costs associated with the regional transmission system.            ]]></description>
          <pubDate>Tue, 30 Jun 2009 15:37:56 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/regulators_set_surcharge_for_dominion_power_customers/277188/#When:19:37:56Z</guid>
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          <title>Consumer confidence falls in June</title>
          <link>http://hosted.ap.org/dynamic/stories/E/ECONOMY?SITE=VARIT&amp;SECTION=BUSINESS&amp;TEMPLATE=DEFAULT&amp;CTIME=2009&#45;06&#45;30&#45;12&#45;06&#45;33</link>
          <description><![CDATA[
Americans, whose hope for the economy had been rising since March, unexpectedly lost faith this month, pushing down a widely watched barometer.
           ]]></description>
          <pubDate>Tue, 30 Jun 2009 14:24:26 EDT</pubDate>
<guid>http://hosted.ap.org/dynamic/stories/E/ECONOMY?SITE=VARIT&amp;SECTION=BUSINESS&amp;TEMPLATE=DEFAULT&amp;CTIME=2009&#45;06&#45;30&#45;12&#45;06&#45;33#When:18:24:26Z</guid>
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          <title>Airport passenger traffic down in May</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/AIRPGAT30_20090630-121801/277176/</link>
          <description><![CDATA[
Richmond International Airport&#8217;s passenger traffic decreased 7.4 percent for May, compared with the same period a year ago, according to the Capital Region Airport Commission. The month&#8217;s results point to a leveling off of the recession-driven slump in passenger traffic at the regional field, airport spokesman Troy Bell said today. RIC&#8217;s May passenger traffic was 292,918 versus 316,512 in May 2008, the commission reported said.           ]]></description>
          <pubDate>Tue, 30 Jun 2009 12:18:01 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/local/article/AIRPGAT30_20090630-121801/277176/#When:16:18:01Z</guid>
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          <title>State unemployment increases a notch in May</title>
          <link>http://www.timesdispatch.com/rtd/business/economy/article/va._unemployment_rises_a_notch_in_may/277171/</link>
          <description><![CDATA[
Labor analysts said the rise in unemployment came as college graduates and students started looking for jobs. Layoffs at car parts suppliers in Virginia also contributed.
           ]]></description>
          <pubDate>Tue, 30 Jun 2009 11:16:09 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/economy/article/va._unemployment_rises_a_notch_in_may/277171/#When:15:16:09Z</guid>
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          <title>Key index shows home prices moderating</title>
          <link>http://www.timesdispatch.com/rtd/business/real_estate/article/HOMEGAT30_20090630-091801/277169/</link>
          <description><![CDATA[
NEW YORK&#8212;A key housing index shows a clear trend that home price declines are moderating. The Standard &amp; Poor&#8217;s/Case-Shiller index released today showed home prices in 20 major cities tumbled by 18.1 percent from April 2008. The 10-city index fell 18 percent from the year before. April, however, marked the third straight month both indexes didn&#8217;t set record price declines. And yearly losses in 13 metros improved compared to March.           ]]></description>
          <pubDate>Tue, 30 Jun 2009 09:18:00 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/real_estate/article/HOMEGAT30_20090630-091801/277169/#When:13:18:00Z</guid>
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          <title>Hyundai offers $1.49 gasoline guarantee for buyers</title>
          <link>http://www.timesdispatch.com/rtd/business/transportation/article/GASGAT30_20090630-083601/277166/</link>
          <description><![CDATA[
NEW YORK&#8212;Hyundai is offering to guarantee gas at $1.49 a gallon for consumers who buy its vehicles during the next two months, as it looks to assure customers uncertain about the direction of fuel prices. The Korean automaker says it will guarantee the price for one year for consumers who buy most Hyundai vehicles between July 1 and Aug. 31.           ]]></description>
          <pubDate>Tue, 30 Jun 2009 08:36:01 EDT</pubDate>
<guid>http://www.timesdispatch.com/rtd/business/transportation/article/GASGAT30_20090630-083601/277166/#When:12:36:01Z</guid>
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          <title>Wall Street points to higher open</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/WALLGAT301_20090630-065801/277162/</link>
          <description><![CDATA[
NEW YORK&#8212;Investors are looking to keep stocks in positive territory on the last day of the second quarter. U.S. stock futures are slightly higher this morning ahead of a report on consumer confidence. The gains in U.S. futures follow mixed markets overseas. With the first half of the year coming to a close, analysts say the market could be a bit more volatile with some investment managers making last-minute adjustments to their portfolios.           ]]></description>
          <pubDate>Tue, 30 Jun 2009 06:58:01 EDT</pubDate>
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          <title>Asian markets mixed, Europe down</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/MRKTGAT30_20090630-060602/277156/</link>
          <description><![CDATA[
BANGKOK&#8212;Asian markets were mixed today and European shares opened lower as investors braced for economic reports that will train a spotlight on the vitality of a possible global economic recovery. Oil powered above $73 a barrel to eight-month highs, boosting resource stocks, and the dollar fell against the yen. Overnight gains on Wall Street underpinned sentiment in Asia, helping some of the region&#8217;s markets to extend a massive rally that began in March on hopes the worst of the global recession has passed. Japan&#8217;s Nikkei 225 stock average clocked a 23 percent gain over the past three months&#8212;its best quarterly performance since 1995.           ]]></description>
          <pubDate>Tue, 30 Jun 2009 06:06:02 EDT</pubDate>
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          <title>Ten more to be charged in Madoff investigation</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-MADO30_20090629-215803/277090/</link>
          <description><![CDATA[
Federal authorities are pressing a probe of 10 associates of Bernard Madoff despite a sentence that means the mastermind of one of the biggest financial frauds in history will spend the rest of his days behind bars, the AP has learned.           ]]></description>
          <pubDate>Tue, 30 Jun 2009 00:01:36 EDT</pubDate>
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          <title>Summer sales slowing seriously</title>
          <link>http://www.timesdispatch.com/rtd/business/local_other/article/B-SHOP30_20090629-215803/277093/</link>
          <description><![CDATA[
As consumers get ready to celebrate July Fourth, many merchants already have dismissed summer as a washout. Though unusually rainy weather across a broad swath of the country has hurt business, some analysts wonder whether shoppers are waking up to the harsh reality that the economy won&#8217;t get better soon.            ]]></description>
          <pubDate>Tue, 30 Jun 2009 00:01:35 EDT</pubDate>
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          <title>Bank of America names new leader of Richmond market</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-BOFA30_20090629-215803/277089/</link>
          <description><![CDATA[
Gary Gore is the new president of Bank of America&#8217;s Richmond market. Gore had been managing director and mid-Atlantic regional executive for Bank of America&#8217;s U.S. Trust, its private wealth-management division. Gore, 41, continues in that role, providing investment, trust and estate, banking, credit and wealth-management services to wealthy people in Virginia, Maryland and Washington.           ]]></description>
          <pubDate>Tue, 30 Jun 2009 00:01:25 EDT</pubDate>
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          <title>Media General announces four appointments</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-MGMG30_20090629-212402/277074/</link>
          <description><![CDATA[
Media General Inc., the Richmond-based company that owns the Richmond Times-Dispatch, has made the following appointments:   Dan Bradley has been promoted to vice president and general manager of WCMH-TV, the company&#8217;s NBC affiliate in Columbus, Ohio, effective tomorrow. He moved to Columbus in April to become the station&#8217;s director of digital journalism and content. He was vice president of news for Media General&#8217;s broadcast division from 2001 to April. He is a graduate of the University of Toledo and attended Ohio State University.           ]]></description>
          <pubDate>Tue, 30 Jun 2009 00:01:02 EDT</pubDate>
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          <title>Madoff: other famous cases</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-MADO30B_20090629-221001/277098/</link>
          <description><![CDATA[
Jeffrey Skilling , 55, Enron&#8217;s former chief executive, sentenced in October 2006 to more than 24 years in prison for role in company&#8217;s collapse. An appeals court in January ordered a resentencing hearing. Skilling is yet to be resentenced. &nbsp; Andrew Fastow , 47, Enron&#8217;s former chief financial officer, pleaded guilty to conspiracy in 2004 and sentenced to six years. The federal Bureau of Prisons lists his projected release date as Dec. 17, 2011.            ]]></description>
          <pubDate>Tue, 30 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Cable&#45;TV operators are the winners in Supreme Court ruling</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-SUPR30_20090629-215803/277094/</link>
          <description><![CDATA[
WASHINGTON&#8212;Cable TV operators won a key legal battle against Hollywood studios and television networks yesterday as the Supreme Court declined to block a new digital video recording system that could make it even easier for viewers to bypass commercials. The justices declined to hear arguments on whether Cablevision Systems Corp.&#8216;s remote-storage DVR system would violate copyright laws.           ]]></description>
          <pubDate>Tue, 30 Jun 2009 00:01:00 EDT</pubDate>
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          <title>E. coli found in Nestl&#233; Toll House cookie dough</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-NEST30_20090629-215803/277092/</link>
          <description><![CDATA[
The Food and Drug Administration said yesterday that a sample of raw cookie dough collected at a Nestl&#233; USA manufacturing plant in Virginia last week has tested positive for E. coli. Nestle voluntarily recalled all Toll House refrigerated cookie-dough products made at the Danville factory this month after the FDA told Nestle it suspected that consumers may have been exposed to E. coli bacteria after eating the dough raw.           ]]></description>
          <pubDate>Tue, 30 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Madoff: victims lash out</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/B-MADO30S_20090629-215803/277091/</link>
          <description><![CDATA[
Victims lash out Excerpts from statements made by victims of Bernard Madoff&#8217;s financial fraud: &#8220;I was introduced to Bernard Madoff 21 years ago at a business meeting. . . . I now view that day as perhaps the unluckiest day of my life. . . . This beast who I call Madoff. He walks among us. He dresses like us . . . but underneath the facade is a true beast. He is an equal opportunity destroyer.&#8220;&#8212;Sheryl Weinstein &#8220;The man sitting in this courtroom robbed me. . . . He discarded me like roadkill. Forgiveness for now will have to come from someone other than me.&#8220;&#8212;Miriam Siegman &#8220;He stole from the rich. He stole from the poor. He stole from the in-between. He had no values. His was a violent crime without the use of a tangible weapon. My life will never be the same. I am financially ruined and will worry every day about how I will take care of my wife.&#8220;&#8212;Tom Fitzmaurice &#8220;I can remember the exact second my wife told me the news. . . . The fallout from having your entire life savings robbed from right under your nose is like nothing you can describe. In a sense, I would like somebody in the court today to tell me how long is my sentence.&#8220;&#8212;Dominic Ambrosino &#8220;Life has been a living hell. It feels like the nightmare we can&#8217;t wake from.&#8220;&#8212;Carla Hishhorn           ]]></description>
          <pubDate>Tue, 30 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Some guidance on choices when financial crunch hits</title>
          <link>http://www.timesdispatch.com/rtd/business/local_other/article/B-MONY30_20090629-191803/277057/</link>
          <description><![CDATA[
Q: I am separated, with two young sons, and my husband lost his job about five months ago. I am solely supporting myself and my children and finding it difficult to cover all our expenses. I have stopped dining out, bring my lunch, don&#8217;t have cable etc., but my income just doesn&#8217;t cover the monthly bills. I think I have to cut back my Thrift Savings Plan contribution to 5 percent or possibly less. I currently contribute 10 percent. Because there really isn&#8217;t any other thing I can do to cut expenses, do you agree about reducing my retirement contribution?           ]]></description>
          <pubDate>Tue, 30 Jun 2009 00:01:00 EDT</pubDate>
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          <title>FDA says E. coli found in Nestle sample</title>
          <link>http://customwire.ap.org/dynamic/stories/U/US_NESTLE_COOKIE_DOUGH?SITE=VARIT&amp;SECTION=US&amp;TEMPLATE=DEFAULT&amp;CTIME=2009&#45;06&#45;29&#45;17&#45;40&#45;44</link>
          <description><![CDATA[
FDA says E. coli found in Nestle sample 

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          <pubDate>Mon, 29 Jun 2009 17:56:27 EDT</pubDate>
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          <title>Fewer Virginians to travel this Fourth of July holiday</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/TRAVGAT29_20090629-111601/277038/</link>
          <description><![CDATA[
Uncertainty about the economy and the recent rise in gasoline prices, up 16 cents from last month, are cited by experts in factors leading to the downward prediction for this coming weekend.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 11:15:38 EDT</pubDate>
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          <title>Porsche rejects VW offer</title>
          <link>http://www.timesdispatch.com/rtd/business/transportation/article/PORSGAT29_20090629-104802/277035/</link>
          <description><![CDATA[
STUTTGART, Germany&#8212;Porsche has rejected Volkswagen AG&#8217;s bid to take a 49 percent stake in the sports carmaker, a company spokesman said today. Porsche Automobil Holding SE spokesman Albrecht Bamler said the offer by VW &#8220;is not a viable option.&#8220; According to Bamler, Porsche board chairman Wolfgang Porsche received the offer in a letter by courier last week. But the company&#8217;s CEO Wendelin Wiedeking and management board were not informed.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 10:48:02 EDT</pubDate>
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          <title>Foreclosure counseling funding provided under legal settlement</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/personal_finance/article/FOREGAT29_20090629-081001/277029/</link>
          <description><![CDATA[
Families who face foreclosure on their homes will get counseling through a $50,000 grant program announced today by Virginia Attorney General Bill Mims. The money, flowing from a settlement early this year with Countrywide Financial Corp., will be distributed by grants to non-profit agencies to counsel an estimated 200 Virginia families on how to avoid foreclosure on their homes.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 08:10:01 EDT</pubDate>
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          <title>Asian markets drop, but Europe opens higher</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/asian_markets_drop_but_europe_opens_higher/277027/</link>
          <description><![CDATA[
Major Asian markets drifted lower today and European stocks gained as investors awaited key data later this week for clues on whether hopes for a global economic recovery are justified. 
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          <pubDate>Mon, 29 Jun 2009 07:43:54 EDT</pubDate>
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          <title>Wall Street points slightly higher</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/wall_street_points_slightly_higher/277026/</link>
          <description><![CDATA[
Investors are beginning a holiday-shortened week on cautious footing. 
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          <pubDate>Mon, 29 Jun 2009 07:41:33 EDT</pubDate>
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          <title>Kings Dominion GM Pat Jones: &#8216;I like to be successful&#8217;</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/COVR29_20090626-231002/276712/</link>
          <description><![CDATA[
A broom and sweeping pan lean up against a corner of Pat Jones&#8217; office at Kings Dominion. She takes them on her afternoon rounds, part of her attention to detail in running one of the region&#8217;s tourism magnets.
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          <pubDate>Mon, 29 Jun 2009 00:05:15 EDT</pubDate>
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          <title>Richmond ad executive Burford isn&#8217;t slowing down</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/NAME29_20090626-231403/276741/</link>
          <description><![CDATA[
Sitting in his large Main Street office, family pictures adorning the walls, Doug Burford looks like a content businessman ready to close up shop and head out to the nearest golf course. But nothing could be further from the truth. &#8220;I don&#8217;t see myself slowing down,&#8220; the 66-year-old Richmond ad man said. &#8220;I still get enthusiastic about new campaigns, and I love coming to work every day.&#8220;           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:04:28 EDT</pubDate>
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          <title>60 seconds with: Julie Bondy of yRichmond</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/SECS29_20090626-231207/276733/</link>
          <description><![CDATA[
JULIE BONDY Metro Business asked Julie Bondy, director of yRichmond, a program aimed at keeping young talent in the area by offering networking and social gatherings for college interns and first-year hires, about why yRichmond is important: &#8220;yRichmond is important to the future of Richmond because it is essential to have a thriving young professional population in order to have an economically vital region.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:03:37 EDT</pubDate>
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          <title>Biz Buzz: Pleasants Hardware opens Patterson store</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/BUZZ29_20090626-231207/276720/</link>
          <description><![CDATA[
In these tough times, most companies are slowing their growth as they wait for sales to pick up. But one Richmond-based retailer is among the handful that is actually expanding. Pleasants Hardware, which traces its roots in the Richmond area back to 1915, has opened its eighth store. &#8220;We saw this as a good time and a good opportunity for us,&#8220; said James T. Hatcher III, Pleasants&#8217; president, adding that the economic downturn actually helped in this case.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:02:13 EDT</pubDate>
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          <title>LIVE CHAT TODAY: What are 1031 exchange accounts?</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/CHAT29_20090626-231207/276723/</link>
          <description><![CDATA[
What are 1031 exchange accounts? How do they work? What is the process? And what do investors need to know when they put proceeds from the sale of investment property into a 1031 account to defer capital-gains taxes? Join us today from 12:30 to 1:15 p.m. at TimesDispatch.com for an online chat about 1031 exchange programs. Three local experts will answer your questions during the chat.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:47 EDT</pubDate>
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          <title>Measuring the influence of green sector is tricky</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/CHMU29_20090626-231403/276736/</link>
          <description><![CDATA[
Some people think the &#8220;green revolution&#8221; is going to be the next wave of innovation similar to what has happened with the Web. Prior waves of innovation before the popularity of the Web - from integrated computer circuits to the Internet - created opportunities and drove economic prosperity. One could argue that we are moving along a similar path with waves of innovation in green industries.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:43 EDT</pubDate>
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          <title>People &amp; Places for June 29</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/BREF29_20090626-231207/276719/</link>
          <description><![CDATA[
ON THE MOVE ACCOUNTING &nbsp; Michelle Schuler has joined Adams, Jenkins &amp; Cheatham as an accountant.&nbsp; Ryan Dickerson has joined Adams, Jenkins &amp; Cheatham as an accountant.&nbsp; James E. Roussel is a staff accountant at Christopher A. Enright. CERTIFICATION &nbsp; Richard Friesner has earned his Certified Hazardous Materials Manager credential from the Institute of Hazardous Materials Management. He is the environmental-services department manager at the Richmond office of Professional Service Industries Inc. and performs environmental site assessments, soil and groundwater remediation, asbestos, lead-paint and mold evaluations throughout Virginia. He earned his bachelor&#8217;s degree in environmental studies and his master&#8217;s in environmental engineering and science from the University of Kansas.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:20 EDT</pubDate>
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          <title>Power&#45;networking event for women slated Wednesday</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/CALN29_20090626-231207/276722/</link>
          <description><![CDATA[
Get out your business cards and company brochures&#8212;and get ready to do some fast talking. The River City Express Network, a local chapter of the American Business Women&#8217;s Association, will hold a high-energy power networking event for 60 women Wednesday. The event, &#8220;SpeedNetworking!&#8220; will be a fast-paced, timed networking program.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:17 EDT</pubDate>
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          <title>Midyear check should go beyond taxes, cuts</title>
          <link>http://www.timesdispatch.com/rtd/business/columnists/article/TALK29_20090626-231002/276715/</link>
          <description><![CDATA[
Early July is a good time for owners to plan for the rest of the year. But the recession has likely chilled many companies&#8217; plans to expand or make big capital expenditures. And many owners have already have done as much cost-cutting as they could to help their companies weather the poor economy. So many of the savvy owners who schedule midyear financial checkup appointments with accountants or tax attorneys are likely to be seeking other kinds of guidance as well, such as finding ways to bring in more sales.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:11 EDT</pubDate>
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          <title>Obama&#8217;s regulatory proposal needs teeth</title>
          <link>http://www.timesdispatch.com/rtd/business/banking/article/WASI29_20090626-231207/276735/</link>
          <description><![CDATA[
After an era of consumer financial abuses, how would you oversee the most damaging industries? The Obama administration&#8217;s proposed consumer financial watchdog overhaul avoids confronting the most frequent offenders while under-regulating a key industry. Many of the products sold by banks, brokers and insurance agents have fallen through the cracks of the current regulatory regime. The administration&#8217;s proposed creation of the Consumer Financial Protection Agency may not do any better in policing these troubling investments.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:08 EDT</pubDate>
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          <title>Caterpillar grappling with global recession</title>
          <link>http://www.timesdispatch.com/rtd/business/investment/market_stocks/article/LECK29_20090626-231207/276730/</link>
          <description><![CDATA[
Q:I hear mixed messages about the prospects for my Caterpillar Inc. shares. Please clarify its outlook. - C.B., via the Internet Answer: The world&#8217;s largest maker of construction and mining equipment hasn&#8217;t sidestepped the effects of the global economic downturn. Its prospects are tied to how quickly the economic picture improves. In the meantime, companywide job cuts continue. It announced plans in January to close plants and eliminate 20,000 workers. That was followed by an announcement of additional layoffs totaling more than 2,400 people.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:04 EDT</pubDate>
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          <title>Decision Makers: Thomas Hall</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/DMAK29_20090626-231207/276726/</link>
          <description><![CDATA[
Thomas Hall  New position: chief financial officer, Dynamic Brands Previous: CFO, C. Forbes Inc. Birthplace: Richmond Education: bachelor&#8217;s in accounting and MBA, University of Richmond Career: vice president of merchandising administration, Heilig-Meyers Co.; VP of accounting operations, Heilig-Meyers; senior auditor, Touche Ross &amp; Co. (now Deloitte &amp; Touche)           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:02 EDT</pubDate>
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          <title>Insider Periscope for June 29</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/INSD29_20090626-231403/276738/</link>
          <description><![CDATA[
AON CORP. Andrew M. Appel, an officer, sold 998 shares June 18 at $36.65 per share, bringing holdings to 109,261 shares. DOMINION RESOURCES INC. Gary L. Sypolt, chief executive officer of Dominion Energy, exercised options for 45,000 shares June 18 at $29.98 per share and sold 45,000 shares the same day at $33 per share, bringing holdings to 70,777 shares. UDR INC.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Building permit highlight</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/HIGH29_20090626-231403/276737/</link>
          <description><![CDATA[
Hospital addition: Forest Medical Plaza, located at Henrico Doctors&#8217; Hospital at Forest Avenue and Skipwith Road in Henrico County, is adding the Henrico Doctors&#8217; Hospital Ambulatory Surgery Center.&nbsp; The 18,000-square-foot center will have four operating rooms and two procedure rooms for minor surgeries. Forest Medical Plaza is the first phase of an expansion of Henrico Doctors&#8217; Hospital. The office medical building will have 91,000 square feet, and the surgery center will be on the fourth floor.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:00 EDT</pubDate>
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          <title>The week ahead: June 29</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/SKED29_20090626-231207/276734/</link>
          <description><![CDATA[
Indicators MONDAY Nothing scheduled.&nbsp; TUESDAY Conference Board releases Consumer Confidence Index for June. Standard &amp; Poor&#8217;s/Case-Shiller releases April index of home prices.&nbsp; WEDNESDAY National Association of Realtors releases pending-home-sales index for May. Commerce Department releases construction spending for May. The Institute for Supply Management releases manufacturing index for June. Major automakers report U.S. auto sales for June.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Metro Business Calendar for June 29</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/MBCL29_20090626-231207/276731/</link>
          <description><![CDATA[
FINANCIAL MONDAY, JUNE 29 &#8220;Retirement Planning and 401(k) Rollover Options,&#8220; Merrill Lynch and William Kavanagh, noon, Eighth and Main Building, sixth floor. Registration: William Kavanagh, (804) 343-4226.&nbsp; TUESDAY, JUNE 30 &#8220;Choosing the Right Investment Strategy in a Difficult Market,&#8220; Merrill Lynch and William Kavanagh, noon, Eighth and Main Building, sixth floor. Registration: William Kavanagh, (804) 343-4226.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Company/Individual Honors for June 29</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/HONO29_20090626-231207/276728/</link>
          <description><![CDATA[
Robert L. Brooke and Harold E. Starke Jr. have been selected for inclusion in the July/August 2009 Law &amp; Politics Super Lawyers, Corporate Counsel Edition. They are with Troutman Sanders. Christopher J. Mugel has been named to the 2009 edition of Chambers USA: America&#8217;s Leading Lawyers for Business. He is with Kaufman &amp; Canoles.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Associations for June 29</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/GROU29_20090626-231207/276727/</link>
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The Greater Richmond Chamber recently approved the 2009-12 slate of candidates for its four local business councils: Chesterfield Business Council: Mary Ellin Arch with TransUrban USA; John Easter with Williams Mullen; Phil Hess with WSI-WebStrategies Inc.; Elizabeth Johnson with Expressions By Design; Tracy Kemp Stallings with CJW Medical Center; and David Reel with the Home Building Association of Richmond.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Commercial Notes for June 29</title>
          <link>http://www.timesdispatch.com/rtd/business/real_estate/article/COMM29_20090626-231207/276725/</link>
          <description><![CDATA[
LEASES GVA Advantis reports the following leases:   7,005 square feet at 6208 Paragon Place in Richmond to Kinsale Capital Group.   6,500 square feet at 1104 Roslyn in Colonial Heights to Fastenal Co.   5,675 square feet at Village Bank Headquarters, 15521 Midlothian Turnpike in Midlothian, to AMC Technology.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Upcoming meetings</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/CHEK29_20090626-231207/276724/</link>
          <description><![CDATA[
Coming up JULY 15 Information Systems Security Association, Central Virginia Chapter, 11:30 a.m., Maggiano&#8217;s Little Italy, 11800 W Broad St.. Speaker: Shelia Teague. Topic: &#8220;Regional Computer Forensics Laboratory Program.&#8220; Cost: $10 for members, $20 for nonmembers. RSVP: http://www.issa-centralva.org/meetings.html.&nbsp; JULY 16 Venture Forum hosts a luncheon, 11:30 a.m., Virginia Historical Society, 428 N. Boulevard. Cost: $25 for members, $40 for nonmembers. Details: http://www.ventureclub.com.           ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Posted on the Biz Buzz Blog last week</title>
          <link>http://www.timesdispatch.com/rtd/business/local/metrobusiness/article/BUZZ29G_20090626-231207/276721/</link>
          <description><![CDATA[
Posted on the Biz Buzz Blog last week &nbsp; Puritan Cleaners continues to offer free dry cleaning to anyone who has lost a job and needs clothes for interviews. Puritan will clean and press a suit, blazer and slacks and two dress shirts, or two regular dresses, once a week until Aug. 31. Customers need to prove their unemployment with a letter from the Virginia Employment Commission or their previous employer. Since the program started in May, more than 75 people have been using the service weekly. Puritan has 13 Richmond-area locations.            ]]></description>
          <pubDate>Mon, 29 Jun 2009 00:01:00 EDT</pubDate>
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          <title>Online chat Monday about 1031 exchange accounts</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/CHAT28_20090627-182803/276773/</link>
          <description><![CDATA[
And what do investors need to know when they put proceeds from the sale of investment property into a 1031 exchange account to defer capital gains taxes? Join us tomorrow from 12:30 p.m. to 1:15 p.m. at TimesDispatch.com for an online chat about 1031 exchange programs. Three local experts will answer your questions during the chat.           ]]></description>
          <pubDate>Sun, 28 Jun 2009 00:01:50 EDT</pubDate>
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          <title>Discussing salary, benefits and perks</title>
          <link>http://www.timesdispatch.com/rtd/business/local/article/JOBS28S2_20090627-182803/276774/</link>
          <description><![CDATA[
Don&#8217;t think the hard part is over just because a job offer is on the table. Now it&#8217;s on to discussing salary, benefits and other perks. The idea of finessing a better package doesn&#8217;t die during a recession, but you should tread carefully when angling for an increase. &#8220;Negotiation of your compensation is always a delicate dance,&#8220; said Genevieve A. Roberts, a partner and co-founder of the Titan Group LLC, a human resource-consulting firm in western Henrico County.           ]]></description>
          <pubDate>Sun, 28 Jun 2009 00:01:42 EDT</pubDate>
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