Chesterfield couple plead guilty in Ponzi scheme (Times-Dispatch)
A Chesterfield County couple who defrauded fellow church members and others in a Ponzi scheme pleaded guilty yesterday and agreed to repay victims more than $9.7 million. No explanation of what changed their minds, since they initially pled innocent and the defense lawyers said they were a well-meaning couple that lacked the financial education to understand what was happening.
$100 million hedge comes up short (Virginia Gazette)
The recession, high gas prices and the stock market crash derailed Colonial Williamsburg’s financial progress in 2008. A successful $100 million hedge against the stock market failed to lift the foundation. The endowment still dropped $209 million to $611 million at year-end.
Trailer Law: Mobile and modular homes are common source of legal disputes (Virginia Lawyers Weekly)
While mobile homes and the people who live in them often struggle for acceptability, manufactured housing remains a fertile source of work for lawyers in Virginia.
Treasury to Set Executives’ Pay at 7 Ailing Firms (NY Times)
The Obama administration’s sweeping new proposal to restrict executive pay is likely to be a humbling exercise for seven of the nation’s largest companies, which have received billions of dollars in federal assistance to survive the economic crisis. But for most other companies, the plan is expected to have only a marginal effect on pay practices for now.
‘Green shoots’ won’t bring back jobs yet (Fortune)
Sales are picking up, but layoffs and poor credit conditions persist, according to a recent survey of small business owners.
Intern Nation (Slate)
American workers are better educated than ever. And yet increasing numbers face a stark reality: nonwage work. With revenue-challenged employers, fewer opportunities, and even less demand, postgraduates and laid-off, mid-career professionals from Boston to Silicon Valley are hardly loafing. They conduct surveys, develop products, strategize funding, manage books, and spearhead social media branding-for free.
In the Shadow of Giants (BNET)
Sure, only one company can be No. 1. But so what? Smaller firms have plenty of advantages — and they often outperform industry leaders. Here are four who are thriving in the shadows.