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Gilbert Yochum, professor of economics at Old Dominion University, was quoted in both the Wall Street Journal and Forbes.com in the past month.

In an article titled "Richest Cities in the U.S.," which appeared on the popular business magazine's Web site last week, Yochum is quoted on why Virginia Beach's median household income is one of the highest in the nation.

"Places like Los Angeles and New York have very skewed distributions of income," Yochum notes in the article. "There are lots of rich people, but lots of poor people. Most of the cities in this metropolitan area--Norfolk, Newport News, Virginia Beach--have a much less skewed distribution of income. There's not as much poverty, but there aren't as many rich. We have a very high center."

In a late September article in the Wall Street Journal, Yochum discussed the real estate opportunities that will arise from the military's decision to close Fort Monroe in Hampton. He called it a "developer's nirvana."

The Forbes.com article is available online at http://www.forbes.com/lifestyle/2005/10/27/richest-cities-US-cx_sc_1028home_ls.html.

This article was posted on: October 30, 2005

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