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Silicon Valley investment boosts Norfolk tech company :thumbsup:

Within the past few months, Centric has been on a hiring spree, growing to more than 20 employees from around 12. The company expects to nearly triple that number by fall as it expands its sales and marketing force, and stable of software engineers.

To house the extra employees, the privately held company is now renovating its downtown office space in the four-story City Centre building on City Hall Avenue, across from MacArthur Center. Centric eventually expects to take over the entire second floor.

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Having just returned from San Diego, I think that the more appropriate comparison would be to that city than to New Orleans. NO is a world unto its own, something that I think we are nowhere near being, both good and bad. We are not as big as SD, but I think we share a lot... military towns, both have inner city malls that help kick start a downtown revival, etc.

I really wish that there was more vision here, but there is a mindset that it's OK to stick with the status quo. But like San Diego, the weather is nice (at least by East Coast standards), we have the beach and we are overshadowed by other local areas (Richmond & DC vs. LA & SF for them). Maybe it's the beach town mentality, I don't know.

HR is not as poverty stricken as many are making it out to be. There are many areas of Richmond, DC and Baltimore that make me shudder and overall, you don't see that here. There are pockets, but overall, there seems to be a very large portion of the population living in the lower middle class and the really rich and really poor are the extremes. Even the housing projects downtown look better than many of the areas of LA that I drove through.

I really think that we are what we are. Do I want another NoVa here? No way. I like the fact that we are somewhat worldly but still pretty easy going, something you just don't find in DC. I've lived here over a decade now and have seen it change for the better. In DC, you meet so many people who really believe that they are so important. Here, people are way more chilled out (other than Pat Robertson). But the change has been slow and for most of us, that is just fine.

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As of yesterday, Norfolk is now home to another billion dollar company, Portfolio Recovery Associates, PRAA. Market capitalization is now over $1B. Not bad for a 10-yr old company.

Also saw that Towne Bank is going to change listing from OTC BB to NASDAQ global markets, but of course they are Portsmouth based. They're stock has been down over the last couple of years, mostly in-line with other banks, but their assets have been growing very well.

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I would think that Dominion Enterprises and Trader Tower would be safe since the former makes money and the latter would be a nice commercial real estate assest. It is the V-P and its employees that should worry. Print news is a dying industry. Any successful newspaper company has other news/classified interests. In Landmark's case, it is the Weather Channel, Dominion Enterprises, and its TV stations. For example, the Wash Post stock in recent years because of its Kaplan unit and despite falling revenue at the company namesake.

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new Virginia Living came today.

"Norfolk, an Urban Miracle"

Against the odds, Norfolk has transformed its once decrepit downtown into a vital, "embraceable" waterfront enclave. And that, in turn, is helping the city become a cultural and economic hub again.
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Why should he? No need to waste time, his opinion would've been just the same if he had. When someone has a deep dislike for the area in which they live, no amount of positive news about the region is going to sway their opinion. To each their own. I personally choose to look at the bright side of things, it's just in my nature. :)
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Tel, with all your rants, do you really think you accomplished something? 99% of the human race doesn't learn through lectures, they learn from their mistakes. This housing bubble is no different. Sure, a lot of people are learning the hard way from the mistakes they have made, but it will benefit them in the future. This reminds me eerily of the Savings and Loan fiasco; in the end we learned our lesson, got through it and moved on. The same will happen with this. On second thought it did accomplish something for you. You can now tell everyone "I told you so!

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