From the notebook of business editor Tim Rausch

By: Tim Rausch on March 27, 2009 - 9:21am - Add new comment

The used-car chain CarMax is still apparently maxed out despite recently opening a new store in Virginia.

Their Augusta store is done at 130 Mason McKnight Jr. Parkway near Interstate 20. Built. Signs up. Just missing the cars and the sales staff.

When I saw their announcement about opening a new store in Woodbridge, Va., I thought an announcement for Augusta’s grand opening would soon follow. Nope.

By: Tim Rausch on March 23, 2009 - 1:19pm - Add new comment

Watching  the stock market start to gain ground again prompted  the question of whether this is  the first indication of the  turnaround that economists were predicting  would start in the middle of this year and revising  to say will happen  toward the end of the year.



By: Tim Rausch on March 13, 2009 - 2:14pm - Add new comment

The stock market has  people sucking their thumbs in the fetal position on their bedroom floors, but a lot of companies whose stock values are dropping are still making profits. The profits aren’t  as high as they once were, but there is still a profit.
Take Procter & Gamble. Its stock price was at a high of $73.57 per share. Now it is trading in the neighborhood of $44.

The company isn’t tanking, though. In the last three months of 2008, it turned out quarterly earnings of $5 billion, up from the $3.2 billion it had in the last three months of 2007.

By: Tim Rausch on February 26, 2009 - 1:41pm - Add new comment

If you have phone conversation skills, there are jobs coming to take advantage of those skills.

The head of Richmond County’s economic development authority tells me that Teleperformance is asking for assistance in expanding its location in the old Waccamaw Building behind the Augusta Mall.

By: Tim Rausch on February 11, 2009 - 12:24pm - Add new comment

Reaction to the master plan from its potential champions has been positive.

Implementation of the projects in the master plan relies on people and organizations in the community taking them off the drawing board and working to make them reality.
With such an emphasis on waterfront development ­– four of the nine market creation projects involve housing and parks along the canal – the Augusta Canal Authority is cited most often as a potential champion for projects, assuming a leadership role in a public-private collaboration.

By: Tim Rausch on January 16, 2009 - 2:24pm - Add new comment

The economy shorted circuited the nation’s second largest electronics retailer. Circuit City said this morning that it would ask its bankruptcy court judge to allow them to liquidate their remaining stores and shut down. The judge said yes and liquidation sales will start Saturday.


By: Tim Rausch on January 14, 2009 - 5:48pm - Add new comment

The Bass Pro Shop waiting game may be ending.

Walter Sprouse, who is Richmond County’s development director, said the concrete slab in the Village of Riverwatch that will sprout Augusta’s Bass Pro Shop will be laid within the next 60 days – basically when the weather allows it. The Development Authority of Richmond County brokered the deal that got the outdoor retailer to locate in Augusta.

By: Tim Rausch on January 8, 2009 - 5:33pm - Add new comment

Owners of stores that re-sell children’s clothes and toys can breathe a sigh of relief.

There was a worry that a new law would force most of them out of business because they would be have been required under a new federal law to test all of their clothes and toys for lead content before selling it, a costly burden.

But today, the U.S. Consumer Product Safety Commission issued a clarification of the Consumer Product Safety Improvement Act that exempts the sellers of used children’s products from certifying lead limits.

By: Tim Rausch on January 7, 2009 - 2:50pm - Add new comment

Goody’s is bidding goodbye for good.

Last year, the area lost two of its three clothing stores, in Aiken and south Augusta. The last remaining store in west Augusta will now be closing along with the rest of the clothing retail chain nationwide.

An employee at the Goody’s Family Clothing store at 216 Robert C. Daniel Jr. Parkway said today that the store will close its doors in the next four to six weeks. The employees are waiting for an exact closing date. A liquidation sale will be forthcoming, though.

By: Tim Rausch on December 19, 2008 - 12:01pm - Add new comment

CarMax said this morning that it will finish building its Augusta store, but it won’t open it right away.
The nation’s largest used car retailer is on target to have the store near the intersection of Wheeler Road and Interstate 20 done by March. What this means is the 50 to 85 people that were going to work there won’t have a job until “market conditions improve.”
The company released its corporate earnings this morning. It didn’t have earnings, it lost $21.9 million in the third quarter.

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