Malled In (Style Weekly)
Chesterfield Mall morphed into Chesterfield Towne Center in 1987 during the first phase of a massive expansion. It more than tripled in size to its current 1.03 million square feet — and has seen a carousel of department-store anchors and dozens of smaller shops come and go through the years. There’s just one hitch: The mall’s already outlived itself.
$28 million added to Va. bases’ share of stimulus (Times-Dispatch)
Virginia military bases will receive an additional $28 million through the federal stimulus package for quality-of-life improvements, infrastructure work and energy-saving projects.
Ex-Wextrust COO fails to get bail down from $10M (Virginian-Pilot)
Joseph Shereshevsky, a Norfolk investment manager being detained in New York City on charges of securities fraud, must remain in custody until he posts $10 million bail, a federal judge determined Tuesday. Shereshevsky, a part owner and former chief operating officer of the investment firm WexTrust Capital, was arrested in August on charges of bilking investors who provided funds to buy seven office buildings.
Lewis Loses Chairman Role at Bank of America (Washington Post)
Bank of America replaced Kenneth D. Lewis as its chairman yesterday after a stormy annual meeting at which shareholders blamed him for the company’s descent from massive profitability to dependence on federal aid.
Chrysler Bankruptcy Looms as Deal on Debt Falters (NY Times)
Last-minute efforts by the Treasury Department to win over recalcitrant Chrysler debtholders failed Wednesday night, setting up a near-certain bankruptcy filing by the American automaker, according to people briefed on the talks.
Bono and the unlikeliest private-equity shop ever (The Big Money)
Palm is 38 percent owned by Elevation Partners, a Silicon Valley private-equity firm whose two most visible partners are Bono, a rock star who wants to be taken seriously as a businessman, and Roger McNamee, a technology investor who wants to be a rock star. Despite many years of loose money that made private equity easier than it should have been, Elevation is still searching for a landmark deal.
How to: Become a Government Contractor (Inc.)
Nice work if you can get it, but the road to government riches is often bumpy. Contractors typically must adhere to rigorous standards for wages and safety. And the government can be an onerous, fickle customer. Solicitations for bids often run scores of pages. Though government acquisition is extremely rationalized and often transparent — the Web is an essential element in doing business with the Feds — it can also be maddening.