LandAmerica unit wants funds access (Times-Dispatch)
A LandAmerica Financial Group Inc. subsidiary wants access to customer funds to pay vendors and expenses while going through Chapter 11 bankruptcy proceedings. LandAmerica 1031 Exchange Services Inc. filed the request in U.S. Bankruptcy Court in Richmond and said if it is not granted, the company may be forced into Chapter 7 liquidation bankruptcy.
Colonial Williamsburg lightens salaries to ease burden (Daily Press)
Declining revenues for the Colonial Williamsburg Foundation in 2008 means pay cuts for Board President Colin G. Campbell and other employees over the next year.
Local foreclosures declined in January, numbers show (Virginian-Pilot)
Foreclosure activity in Hampton Roads eased in January as some of the nation’s lenders suspended home repossessions, a report to be released today found.
Ethanol, Just Recently a Savior, Is Struggling (NY Times)
As recently as last summer, plants that make ethanol from corn were sprouting across the Midwest. But now, with motorists driving less in the economic downturn, the industry is burdened with excess capacity, and plants are shutting down virtually every week.
Congress takes bank executives to task over bonuses, lending (USA Today)
Lawmakers grilled the CEOs of the top eight U.S. banks Wednesday with questions on why fat bonuses were paid and lending hadn’t improved despite the banks having taken $165 billion of taxpayer money since October.
If You Knew Suze Like We Know Suze (Slate)
You wouldn’t listen to her advice.
Inside a Fashion Label’s Scramble to Survive (WSJ)
Suddenly, Five Four found itself in free fall. “I feel like I woke up the first week of October, when everything stopped,” Mr. Murthy says. The founders of the Los Angeles-based company would have to act quickly.
Laid Off in 2008? Start a Business in 2009 (Entrepreneur)
3 budding entrepreneurs share how they made the most of their recent job losses.