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Capital One credit card charge-offs increase

Local credit giant Capital One (based in McLean, VA) has stated that its rate of uncollectible credit card balances increased in the third quarter. Initially, it seemed that consumers were showing progress in paying credit card bills, but with the rate of unemployment continuing to climb, consumers are concentrating on major bill payments such as mortgage and automobile payments.

Charge offs for Capital One have increased from $366.8 million to 368 million continuing to show that consumers are still under stress and enduring financial hardships. It has been noted that while consumers are attempting to make payments on their credit card debt, they are still delinquent in their payments.

It has been found that consumers are using credit cards for basic needs such as groceries, gas and prescription drug purchases. In addition, most consumers are carrying at least $10,000 in credit card debt and have at least 5 credit cards.

BizFair 2010 is Next Week

This was sent to us by the Greater Springfield Chamber of Commerce:

BizFair 2010 is a joint venture of the Greater Sprinfield Chamber of Commerce and Springfield Civic Association that will be held on November 16. It will be held from 6:00 to 8:00 p.m. at the Springfield Mall. At BizFair 2010 residents from across southeast Fairfax County will meet local business to consumer companies in time to SHOP LOCAL for the holidays. BizFair is the ideal time to make your list, and check it twice, in planning for the holidays.

NEW THIS YEAR . . .

~ Discounted early-bird vendor registration rate ~ Networking reception ~ Live music ~ Lite holiday fare (a small taste of the season)

Exhibit space includes a linen covered 6ft display table and 2 chairs. 

Early-bird exhibitor registration, $150, available through November 9.

BizFair 2010 is free to the public.

 

9th Annual Springfield BridgeWalk

On Friday, September 10, Springfield residents, businesses and other community members are invited to participate in the 9th Annual Springfield Community BridgeWalk in celebration of Springfield’s commercial revitalization. Lee District Supervisor, Jeff McKay, is inviting community members to march over Veterans Bridge on Friday evening at 7:30 p.m. The march will be led by a color guard from the American Legion and a contingent of soldiers from Fort Belvoir.  After the march, there will be a free celebration at the American Legion with music, food, and door prizes.

If you are interested in participating in the BridgeWalk, you need to meet in the parking lot adjacent to the Kinko’s on the north side of the bridge at 6998 Bland Street at 7:00 p.m.

Courtyard Marriott in Springfield Gets a Facelift

The Courtyard Marriott in Springfield, VA is almost done with the renovation that it began in April. Renovations of this Marriott include a brand-new lobby, updated business center, and new places to eat, including The Bistro restaurant and Market. Renovations to the courtyard and fitness center are still a work in progress and should be complete this fall.

Grand Re-Opening of JCPenney!

Today, August 20, is the official grand re-opening of the newly renovated JCPenney in Springfield Mall. Springfield Mall in Springfield, VA is open Monday through Saturday from 10:00 a.m. to 9:30 p.m. and on Sundays from 11:00 a.m. to 7:00 p.m. Holiday hours may vary!

Vipar Heavy Duty Adds Local Distributor to Network

Northern Virginia Supply Company is a full-line, heavy-duty distributor headquartered in Springfield, VA.  Vipar Heavy Duty is adding Northern Virginia Supply Company and Western Trailer Sales to their distributor network. This will expand Vipar’s network in the Washington D.C. metro area, as well as Idaho with Western Trailer Sales. Northern Virginia Supply currently covers the DC metro area from four different locations in Virginia and Maryland.

The President and CEO of Vipar Heavy Duty, Steve Crowley said that both of these two companies are well known and respected in their markets as qualified distributors.

Savantage Solutions to Open Springfield Office

CEO of Savantage Solutions, Lisa Kazor, announced today that her company will be opening a new office in Springfield, VA. Savantage Solutions is now headquartered in Rockville, and their consistent growth has allowed the company the opportunity to expand to Springfield. Along with Rockville, they also currently have offices in Washington D.C. and Alexandria, VA.

Savantage Solutions provides consulting and technology support solutions to Federal agencies. Along with opening the new office in Springfield, Savantage Solutions is planning on physically expanding their Rockville office by almost 20,000 square feet. The Springfield office will be around 5,000 square feet and will feature eco-friendly design and décor concepts.