Mortgages offered at less than market rate (Times-Dispatch)
Like First Market Bank, Central Virginia Bank is now offering a below-market interest rate of 4.363 percent on 30-year fixed-rate mortgage loans up to $534,000 to customers who buy homes financed by the Powhatan County-based bank, any pre-sold home that will be built on a lot financed by the bank and any bank-owned residential real estate.
Fuzzy Signals (Style Weekly)
Slack advertising has hit TV stations hard. While layoffs are nowhere on the level of the daily newspaper’s 82 lost jobs so far this year, they still threaten. Top-rated WWBT-12 (NBC) went through a round late last year, laying off 15 percent of its staff. Young Broadcasting, the New York-based parent of WRIC-8 (ABC), is in bankruptcy. WTVR-6 (CBS) says it’s made no significant staff cuts, although it has instituted a number of cost-cutting measures including some pay cuts and furloughs.
Liberty Tax penalized $1.16M in case over its advertising (Virginian-Pilot)
A California court imposed $1.16 million of civil penalties on Liberty Tax Service, saying Liberty engaged in deceptive practices when promoting its refund anticipation loans to tax-return filers.
June’s auto sales suggest the worst may be over (USA Today)
June car sales were bad — 28% lower than a year ago — but industry executives say they think the market has hit bottom and will continue to inch up as the year progresses. It was the first month since September that sales have fallen less than 30%.
Bank Fees Rise as Lenders Try to Offset Losses (NY Times)
Even now, after all those bailouts, banks never seem to tire of dipping a little deeper into your wallet. Despite the tough economic times and increased scrutiny from Washington, they are keeping most fees at record highs, and are eking out slight increases on others like overdraft charges — a step they rarely took during past recessions. The result? Americans are paying more to save and spend their money.
10 Rules for Quick and Easy PR (Entrepreneur)
Simple steps to give your business a competitive edge, on a budget.