Banks wary of TARP fund restrictions (Virginian-Pilot)
Taking inexpensive capital from the Treasury Department sounded like a great idea when the credit and capital markets were frozen late last year. But today, a growing number of banks are having second thoughts.
UVa Hospital sees fewer procedures (Daily Progress)
As of January, UVa’s hospital saw its total patient admissions drop by 4.5 percent to date in fiscal 2009 when compared with the same period a year earlier. The drop-off carries financial implications for the hospital, as new patient admissions bring in a significant portion of its revenue. As a result of the reduced number of patients, the hospital is facing an $18 million revenue shortfall in the current year’s budget.
At Nationals Park, District of Dreams Hits a Slump (Washington Post)
Across the country, development has slowed dramatically and left a ballpark that was once a symbol of the city’s hopes a reminder instead of the struggling economy.
Longer Unemployment for Those 45 and Older (NY Times)
Workers ages 45 and over form a disproportionate share of the hard-luck recession category, the long-term unemployed — those who have been out of work for six months or longer, according to the Bureau of Labor Statistics. On average, laid-off workers in this age group were out of work 22.2 weeks in 2008, compared with 16.2 weeks for younger workers. Even when they finally land jobs, they typically experience a much steeper drop in earnings than their younger counterparts.
Tough Times for Town Fathers (WSJ)
Business leaders like Messrs. DeMilio, Kelley and Price have long been pillars of this once-thriving Georgia town. Each year, they contributed millions for parks, buildings, classroom books, even a gymnasium and a church. In the process, they acted as a safety net for everything from the local schools to the Chamber of Commerce. Now, with the credit crisis causing the traditional support systems to crumble, life in Loganville is harder on just about everybody.
This Is How It’s Done: Smart Business Moves (Inc.)
30 classic examples of innovation, from the Inc. archives