Daily Press - Local Business News

Rising above credit crunch

Fri, 25 Jul 2008 00:00:00 -0400

TowneBank will sell preferred stock to take advantage of competitors who are cutting back lending to save money.

TowneBank announced plans on Thursday to sell $25 million of preferred stock that will pay an 8 percent annual dividend.

Gas gauge

Fri, 25 Jul 2008 00:00:00 -0400

Sales fall to lowest level in over a decade

Fri, 25 Jul 2008 00:00:00 -0400

Sales of existing homes tumbled more sharply than expected in June, pushing activity down to the lowest level in more than a decade.

Airport owners announce new top officers

Fri, 25 Jul 2008 00:00:00 -0400

The Peninsula Airport Commission, owners and operators of the Newport News/Williamsburg International Airport have appointed new officers for the fiscal year that started July 1. The commission has appointed Herbert H. Bateman, Jr., of Newport News as its new chairman. Other appointees are: James J. Lockhart, of Hampton, vice chairman; Aubrey Fitzgerald, of Newport News, secretary; LaDonna Williams, of Newport News, treasurer; Edgar E. Maroney of Newport News, assistant secretary; Stephen Mallon, of Hampton, assistant treasurer.

Oil gains ground; natural gas fizzles

Fri, 25 Jul 2008 00:00:00 -0400

Crude recoups only about a quarter of Wednesday's decline. Prices at the pump fall more than a penny.

Energy market investors managed to win back modest oil gains Thursday, after crude's big drop a day earlier. But they again drove natural gas prices sharply lower as a three-week sell-off of that fuel continued unabated.