Uncle Sam has just become the 800 pound gorilla in the U.S. mortgage market.

The facility, set to open in spring 2009, will be located at the village center of the Old Trail mixed-use development.

Business Calendar

Local business announcements

Local business announcements

Since the fall of the Soviet Union in 1991, Russia has been trying to remake itself and regain its former glory and respect. The country’s fall from superpower to emerging market deeply wounded its people’s pride.

A weekly listing of property transfers and building permits in and around Charlottesville.

“Airline travel is airline travel — it’s been bad for a long time,“ Chris Bardasian, an American Airlines frequent flyer, said recently at Dallas-Fort Worth International Airport. “I suspect prices will go up, fewer people will travel, and if you’re willing to pay the price it will be fine.“

Personal incomes plunged in July while consumer spending slowed significantly as the impact of billions of dollars in government rebate checks began to wane.

The economy shifted to a higher gear in the spring, growing at its fastest pace in nearly a year as foreign buyers snapped up U.S. exports and tax rebates spurred shoppers at home.

A widely watched housing index released Tuesday showed home prices dropping by the sharpest rate ever in the second quarter.

Sales of existing homes rose 3.1 percent in July, surpassing expectations, as buyers snapped up deeply discounted properties in parts of the country hit hardest by the housing bust.

With planned ‘beer trail,’ Charlottesville area brew-ers hope emulate Virginia’s wine industry.

In 2003, the Goldman Sachs Global Economics Department predicted the economic and geopolitical influence of Brazil, Russia, India and China (the BRIC countries) would become increasingly visible in the developed world and even dominate it by 2050. These countries have averaged a total return on investment in their stock markets of 38.28 percent over the past five years, up 5.02 percent over the past year.

Local business announcements

Local business announcements

A weekly listing of property transfers and building permits in and around Charlottesville.

Business Calendar

Construction crews are putting the finishing touches on the Devil’s Backbone beer brewery located just down the mountain from the Wintergreen ski and golf resort in Nelson County.

Federal Reserve Chairman Ben Bernanke said Friday the financial crisis that has pounded the country — coupled with higher inflation — is taking a toll on the economy and poses a major challenge to Fed policymakers as they try to restore stability.

Circuit City says it’s still considering a sale of the Richmond consumer electronics retailer.

Wholesale inflation surged in July, leaving prices for the past year rising at the fastest pace in 27 years, according to government data released Tuesday.

Amish and Mennonite and even non-religious small-scale growers in Virginia, Pennsylvania, Ohio, Iowa, Tennessee, New York and other states are mindful of the money to be made from this emerging relationship with big distributors. And they are willing to engage in some horse trading to create business relationships.

A weekly listing of property transfers and building permits in and around Charlottesville.

Financial information on the Internet is excessive and changes daily. This overload leads to excessive trading, which in turn results in lower returns. Studies suggest that analysts who depend on all this overwhelming advice make poorer decisions even though they feel more confident about them.

Business Calendar

Local business announcements

Local business announcements

Spencer Connerat, formerly of Collective Resources Corp. and a CPC stockholder, said the suit is an attempt to force the city to specify if and when it inked a confidentiality agreement with the CPC. Such an agreement would be needed to allow the city to bid on CPC’s assets.

Real estate agents say the cost of gas is putting a damper on home sales in some rural areas.