FRONT ROYAL -- An economist and former budget director under President Reagan told a group of investors Tuesday that the federal stimulus package isn't working, and a full economic recovery is still years away.
Red Hot & Blue on Featherbed Lane in Winchester closed its doors this week after its lease expired and wasn't renewed. The southern-style barbecue chain opened in the city in 2002. Dennis Grundman/Daily
WINCHESTER -- Cabinet maker American Woodmark posted a $6.4 million loss for its fiscal first quarter ended July 31, citing weak sales and restructuring charges from the closing of two of its plants and the idling of a third facility earlier this year.
FRONT ROYAL -- James Madison University will open a distance learning center inside the Royal Phoenix administration building in the coming months, the local Economic Development Authority announced this week.
Soured real estate loans continue to weigh on local banks' balance sheets. Summit Financial Group, the holding company for Winchester-based Summit Community Bank, reported a loss of $3.5 million, or 46 cents a share, for the April-June quarter after writing off $13.8 million in bad loans, mostly in construction and development.
EDINBURG -- Shentel posted an 11 percent jump in revenue in the second quarter, but its earnings fell due to costs associated with its new cable TV operations and expansion of its wireless and fiber optic networks.