For
the Record is
compiled from company releases, business
journals and newspaper reports from around
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For the Record
Virginia Business Magazine
P.O. Box 85333
Richmond, VA 23293
Circuit City Stores Inc.,
a Richmond retailer of consumer electronic goods,
announced plans to sell its credit-card portfolio
to Bank One Corp. for $1.8 billion. The company
sold part of its bank-card operations to FleetBoston
Financial in November with a loss of 300 jobs
in Richmond. The move allows Circuit City to focus
on its core consumer business. (01/21/04, Richmond
Times-Dispatch)MeriStar Hospitality Corp.,
a hotel investment trust headquartered in Arlington,
sold four hotels with a total of 826 rooms to
two separate buyers for aggregate proceeds of
$33.9 million. The properties were all located
outside Virginia. Since January 2003, the company
has sold 18 hotels for $156.3 million as part
of a plan to dispose of non-core hotel properties
and reshape the firm’s portfolio. (01/13/04,
Business Wire)
