NewsFeed 7.15.09

Mayor wants city to buy GRTC site near Fan (Times-Dispatch)
Richmond Mayor Dwight C. Jones wants the city to buy the coveted site of GRTC Transit System next to the Fan District and to guide private development of the property.

State opts to remove fee for vendors (Roanoke Times)
Virginia will eliminate an annual registration fee assessed on small businesses that participate in the state’s electronic procurement system, removing a barrier that deterred some vendors from doing business with state government.

Health-Care Plan Would Add Surtax On Wealthy (Washington Post)
House Democrats announced a plan yesterday that would force the richest 2 million U.S. taxpayers to shoulder much of the cost of an expansion of the nation’s health-care system, by imposing a surtax of as much as 5.4 percent on income above $350,000 a year

Upscale home sales lag as jumbo loans are hard to get (USA Today)
They don’t qualify for mortgage modifications under the Obama plan. They can’t get today’s low interest rates if they try to refinance. And with newly cautious lenders warier about who they lend to, just try to sell a home that costs $730,000 or more these days. In many cases, finding a buyer who can get financing takes far longer than for lower-price homes, because banks want as much as 30% down and six months of mortgage payments in reserve.and six months of mortgage payments in reserve.

CIT Group’s troubles could weigh heavily on retailers this holiday season (LA Times)
CIT is a major cog in making sure that orders get paid for and delivered to stores. Without CIT, retail shipments for the crucial holiday shopping season could be in jeopardy and, in turn, set off a new wave of bankruptcies among retailers and vendors.

How to Start a T-shirt Company (Inc.)
A great story from this month’s Inc. Magazine. Great designs are not enough, according to Johnny Earle of Johnny Cupcakes. You also need lots of buzz and exclusivity

Mayor wants city to buy GRTC site near Fan (Times-Dispatch)
Richmond Mayor Dwight C. Jones wants the city to buy the coveted site of GRTC Transit System next to the Fan District and to guide private development of the property.

State opts to remove fee for vendors (Roanoke Times)
Virginia will eliminate an annual registration fee assessed on small businesses that participate in the state’s electronic procurement system, removing a barrier that deterred some vendors from doing business with state government.

Health-Care Plan Would Add Surtax On Wealthy (Washington Post)
House Democrats announced a plan yesterday that would force the richest 2 million U.S. taxpayers to shoulder much of the cost of an expansion of the nation’s health-care system, by imposing a surtax of as much as 5.4 percent on income above $350,000 a year

Upscale home sales lag as jumbo loans are hard to get (USA Today)
They don’t qualify for mortgage modifications under the Obama plan. They can’t get today’s low interest rates if they try to refinance. And with newly cautious lenders warier about who they lend to, just try to sell a home that costs $730,000 or more these days. In many cases, finding a buyer who can get financing takes far longer than for lower-price homes, because banks want as much as 30% down and six months of mortgage payments in reserve.and six months of mortgage payments in reserve.

CIT Group’s troubles could weigh heavily on retailers this holiday season (LA Times)
CIT is a major cog in making sure that orders get paid for and delivered to stores. Without CIT, retail shipments for the crucial holiday shopping season could be in jeopardy and, in turn, set off a new wave of bankruptcies among retailers and vendors.

How to Start a T-shirt Company (Inc.)
A great story from this month’s Inc. Magazine. Great designs are not enough, according to Johnny Earle of Johnny Cupcakes. You also need lots of buzz and exclusivity

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