Bank takes back King William housing project (Times-Dispatch)
Like a lot of developers, Ingalls borrowed to finance work on the King William project, which was to start with a 55 lot subdivision called Marle Hill Section IV before moving onto two other phases, called Liberty and West Liberty. And, like a lot of developers, he expected that the sale of lots over time would generate the money needed to pay off his loans, and, at the end of the day, leave a profit for himself.
How local businesses can tap the stimulus funds (Virginian-Pilot)
Anticipation of the stimulus package, known as the American Recovery and Reinvestment Act, built “false expectations,” said Chris Lloyd, senior vice president of McGuireWoods Consulting in Richmond. “But it’s going to have a lot of benefit for the country and the commonwealth.”
More states want solar power to be option on new homes (USA Today)
A growing number of states are moving to require home builders to offer solar electricity and hot-water systems in new homes, right alongside more traditional options such as fancy kitchen countertops and special window treatments.
Credit Woes Hit Home (WSJ)
Even as wobbly banks tighten up on consumer credit cards, they are also cracking down on small-business owners by slashing their credit lines, closing accounts and raising interest rates. A recent Federal Reserve survey found that about two-thirds of banks’ loan officers reported that they tightened terms for business loans in recent months. Meanwhile the National Small Business Association, a trade group, said 69% of 250 surveyed small-business members faced worse terms on their cards, such as higher interest rates, in the second half of last year.
The 30 Greatest Fictional Entrepreneurs (Inc.)
Neat slideshow from Inc. that looks at some classic characters from TV, film, and books who have played famous entrepreneurial roles. My favorites: #12 and #26.