S&K pays off credit line (Times-Dispatch)
S&K Famous Brands has paid off a credit line used in bankruptcy and can continue operating without the looming threat of liquidation — for now.
Gov. Kaine seeks expansion of unemployment benefits (Virginian-Pilot)
Kaine said he will ask the General Assembly next week to use federal stimulus dollars to extend unemployment payments an additional 13 weeks. The measure, if approved, would give many Virginians a maximum of 59 weeks of stipends.
For U.S. and Carmakers, a Path Strewn With Pitfalls (NY Times)
After a team of his aides concluded that the latest “viability plan” was once again far too modest, far too optimistic and far too late — a product of the same thinking that allowed Japan in the latter years of the 20th century to carve away one of the great American manufacturing franchises — Mr. Obama took a step that would have been unimaginable just 12 months ago. He forced out the chairman of a company that, in a previous era, would regularly send its executives to Washington to prod the gears of government. He made it clear that the White House would oversee, and heavily influence, decisions about what plants to shut.
Microlenders Widen Their Client Base (WSJ)
With many banks continuing to put a hold on lending, more small-business owners and would-be entrepreneurs are turning to microlenders, organizations that dole out smaller loans typically ranging from as little as $500 to $35,000. Microlenders tend to charge higher interest rates than banks because their borrowers are often first-time entrepreneurs or have weaker credit profiles.
The Pros of Planting Startups in Smaller Cities (Business Week)
In high-growth and more conventional businesses, many entrepreneurs find that bigger isn’t always better when it comes to selecting a place to start a company.n fact, places like Boulder, Colo., (population 91,000) and Fairfax, Va., (23,000) are just as favorable for startups as San Francisco (733,000) and New York (8.2 million), according to research conducted for BusinessWeek