Blue Ridge Savings runs afoul of feds

Asheville-based Blue Ridge Savings Bank, chaired by former Congressman Charles Taylor, is seeking to right its ship after the Federal Deposit Insurance Corp. recently ordered the institution to stop an array of “unsafe and unsound” banking practices. Bank blues: Federal and state bank regulators have ordered Blue Ridge Savings Bank to cease a series of […]

The Ellington looks to break ground next summer

If all goes according to plan, The Ellington hotel/condo project slated for Biltmore Avenue should break ground and commence construction sometime in mid-2009, says spokesperson Karen Tessier. High hopes: Developers of The Ellington, a high-rise planned for Biltmore Avenue, expect to break ground sometime next summer. “We’re still in process with The Ellington, we’re still […]

Bad times for the local news business

Whether it’s merely a reflection of the ailing economy, the rise of the Internet or the death knell of daily print journalism, newspapers nationwide are in a severe tailspin. Asheville’s local daily, the Asheville Citizen-Times, is among those feeling the heat. Paper losses: The Asheville Citizen-Times recently announced that it’s laying off 16 people as […]