NewsFeed 2.9.09

Arise, Miller & Rhoads (Times-Dispatch)
The landmark building, which closed in 1990, reopens this week as a $110 million hotel and condominium complex. It is the latest in a series of projects resuscitating a decrepit strip of East Broad Street.

Making a hometown brew (Roanoke Times)
The next time you frequent a local watering hole, check the tap handle for an image of a train, roaring down the tracks, with a view of the Mill Mountain Star in the background. After several years in the works, Roanoke Railhouse Brewing Co.’s signature brew is available for sale.

Industry Intrinsic to Va. Now Vulnerable (Washington Post)
Philip Morris is the world’s largest tobacco company. With revenue that rivals Iceland’s gross domestic product, Philip Morris contributed $632 million to Virginia’s economy through employee wages alone in 2007 and paid $87.1 million in payroll, property and corporate taxes. Now, Gov. Timothy M. Kaine is leading an aggressive campaign to promote public health, perhaps at the expense of a homegrown industry that until last week was considered almost invulnerable.

Opposing forces tug on banks (LA Times)
Like the 350 or so other banks that have accepted a total of about $250 billion in capital under the Treasury Department program, known as TARP, the Beverly Hills-based bank finds itself pinched between what it views as prudent banking and demands from lawmakers and customers that it expand lending to help reboot the economy.

Why Analysts Keep Telling Investors to Buy (NY Times)
At the top of the market, they urged investors to buy or hold onto stocks about 95 percent of the time. When stocks stumbled, they stayed optimistic. Even in November, when credit froze, the economy stalled and financial markets tumbled to their lowest levels in a decade, analysts as a group rarely said sell. But after so many bad calls on so many companies, why should investors believe them this time?

The view from Maine Street (Fortune)
Tapped by Obama to run the Small Business Administration, Wall Street veteran Karen Mills will need to move quickly to unlock the cash and assistance needed by struggling businesses – including those in her own hometown.

Arise, Miller & Rhoads (Times-Dispatch)
The landmark building, which closed in 1990, reopens this week as a $110 million hotel and condominium complex. It is the latest in a series of projects resuscitating a decrepit strip of East Broad Street.

Making a hometown brew (Roanoke Times)
The next time you frequent a local watering hole, check the tap handle for an image of a train, roaring down the tracks, with a view of the Mill Mountain Star in the background. After several years in the works, Roanoke Railhouse Brewing Co.’s signature brew is available for sale.

Industry Intrinsic to Va. Now Vulnerable (Washington Post)
Philip Morris is the world’s largest tobacco company. With revenue that rivals Iceland’s gross domestic product, Philip Morris contributed $632 million to Virginia’s economy through employee wages alone in 2007 and paid $87.1 million in payroll, property and corporate taxes. Now, Gov. Timothy M. Kaine is leading an aggressive campaign to promote public health, perhaps at the expense of a homegrown industry that until last week was considered almost invulnerable.

Opposing forces tug on banks (LA Times)
Like the 350 or so other banks that have accepted a total of about $250 billion in capital under the Treasury Department program, known as TARP, the Beverly Hills-based bank finds itself pinched between what it views as prudent banking and demands from lawmakers and customers that it expand lending to help reboot the economy.

Why Analysts Keep Telling Investors to Buy (NY Times)
At the top of the market, they urged investors to buy or hold onto stocks about 95 percent of the time. When stocks stumbled, they stayed optimistic. Even in November, when credit froze, the economy stalled and financial markets tumbled to their lowest levels in a decade, analysts as a group rarely said sell. But after so many bad calls on so many companies, why should investors believe them this time?

The view from Maine Street (Fortune)
Tapped by Obama to run the Small Business Administration, Wall Street veteran Karen Mills will need to move quickly to unlock the cash and assistance needed by struggling businesses – including those in her own hometown.

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