NewsFeeds 3.16.09

Foreclosures illustrate mortgage meltdown (Times-Dispatch)
The brief proceeding on an overcast late-winter afternoon was a microcosm of the current state of the nation’s housing crisis. It reflected the dying hopes of one family, the Bangs, who were never told of their home’s reprieve at the auction. Still facing big bills with little work available, they continued to move out of their home of eight years to a small apartment.

High-end condos sell luxury, but few are buying (Hampton Roads)
A report released in January by Residential Data Bank found many condo developers in the region could count on their fingers the number of sales contracts they landed last year. The firm studied 27 new multilevel condo buildings, all with three levels or more and served by an elevator, and reported that fewer than 100 contracts were written in 2008. Based on last year’s abnormally slow sales pace, the firm estimated it would take 10 years to work through the inventory.

Lean times force TV stations to eliminate jobs (Roanoke Times)
Three major local TV stations have trimmed their staffs over the past year, becoming leaner operations in the face of declining advertising dollars and an evolving media landscape.

Obama plans small-business lending boost (USA Today)
Obama and Treasury Secretary Timothy Geithner on Monday planned to announce a broad package that includes reduced small-business lending fees and an increase on the guarantee to some Small Business Administration loans. A day earlier, the president’s advisers said in television interviews that they remained confident in the nation’s economic fundamentals, at times adopting upbeat rhetoric the president once mocked.

After Layoffs, Starting a Business from Scratch (Business Week)
Plenty of employees have visions of launching their own ventures. Layoffs are spurring some of them to make the plunge.

Rev up the Search Engines (Entrepreneur)
If search engines can’t find you, neither can customers. Build your site right.

Foreclosures illustrate mortgage meltdown (Times-Dispatch)
The brief proceeding on an overcast late-winter afternoon was a microcosm of the current state of the nation’s housing crisis. It reflected the dying hopes of one family, the Bangs, who were never told of their home’s reprieve at the auction. Still facing big bills with little work available, they continued to move out of their home of eight years to a small apartment.

High-end condos sell luxury, but few are buying (Hampton Roads)
A report released in January by Residential Data Bank found many condo developers in the region could count on their fingers the number of sales contracts they landed last year. The firm studied 27 new multilevel condo buildings, all with three levels or more and served by an elevator, and reported that fewer than 100 contracts were written in 2008. Based on last year’s abnormally slow sales pace, the firm estimated it would take 10 years to work through the inventory.

Lean times force TV stations to eliminate jobs (Roanoke Times)
Three major local TV stations have trimmed their staffs over the past year, becoming leaner operations in the face of declining advertising dollars and an evolving media landscape.

Obama plans small-business lending boost (USA Today)
Obama and Treasury Secretary Timothy Geithner on Monday planned to announce a broad package that includes reduced small-business lending fees and an increase on the guarantee to some Small Business Administration loans. A day earlier, the president’s advisers said in television interviews that they remained confident in the nation’s economic fundamentals, at times adopting upbeat rhetoric the president once mocked.

After Layoffs, Starting a Business from Scratch (Business Week)
Plenty of employees have visions of launching their own ventures. Layoffs are spurring some of them to make the plunge.

Rev up the Search Engines (Entrepreneur)
If search engines can’t find you, neither can customers. Build your site right.

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