NewsFeeds 7.22.09

Northrop Grumman running late on Va. computer work (Times-Dispatch)
Not a single state agency’s computer system was transformed by the deadline Virginia and its politically connected contractor have worked toward for the past three years, under a $2.3 billion contract. And key audits of the contractor, Northrop Grumman Inc., have been months late — in one case, 2½ months after the Virginia Information Technologies Agency, which manages the contract, gave Northrop a deadline extension.

The waiting game: Toughing it out in the construction industry (Virginia Lawyers Weekly)
After the business-to-business buzz of the past two years subsided, businesses – and the lawyers who serve them – have been looking for the government to take up some of the slack. Businesses left standing are looking to do business with Uncle Sam. Not only as a source of credit, but as a paying customer.

Police, FBI investigating missing cash (Daily Progress)
The Albemarle County Police Department has opened a joint criminal investigation with the FBI to find out what happened to the $666,446 missing from the Glenmore Community Association’s coffers.

Some small businesses still struggle to get financing (USA Today)
The big squeeze on small-business financing continues, despite the overall loosening of U.S.

Banks, battles, and the psychology of overconfidence (New Yorker)
Editor’s Pick and a must-read for anyone who has to make big decisions at work. As novices, we don’t trust our judgment. Then we have some success, and begin to feel a little surer of ourselves. Finally, we get to the top of our game and succumb to the trap of thinking that there’s nothing we can’t master. As we get older and more experienced, we overestimate the accuracy of our judgments, especially when the task before us is difficult and when we’re involved with something of great personal importance.:

CIT A ‘Wake-Up Call’ For Small Businesses (WSJ)
CIT’s financial struggles, which have sent manufacturers and retailers scrambling for alternative sources of credit since they came to light, are a stark reminder for all small business owners not to put all their eggs in one borrowing-basket. If they haven’t already, entrepreneurs should be considering loans from credit unions and exploring financing programs backed by the federal or local governments.

Northrop Grumman running late on Va. computer work (Times-Dispatch)
Not a single state agency’s computer system was transformed by the deadline Virginia and its politically connected contractor have worked toward for the past three years, under a $2.3 billion contract. And key audits of the contractor, Northrop Grumman Inc., have been months late — in one case, 2½ months after the Virginia Information Technologies Agency, which manages the contract, gave Northrop a deadline extension.

The waiting game: Toughing it out in the construction industry (Virginia Lawyers Weekly)
After the business-to-business buzz of the past two years subsided, businesses – and the lawyers who serve them – have been looking for the government to take up some of the slack. Businesses left standing are looking to do business with Uncle Sam. Not only as a source of credit, but as a paying customer.

Police, FBI investigating missing cash (Daily Progress)
The Albemarle County Police Department has opened a joint criminal investigation with the FBI to find out what happened to the $666,446 missing from the Glenmore Community Association’s coffers.

Some small businesses still struggle to get financing (USA Today)
The big squeeze on small-business financing continues, despite the overall loosening of U.S.

Banks, battles, and the psychology of overconfidence (New Yorker)
Editor’s Pick and a must-read for anyone who has to make big decisions at work. As novices, we don’t trust our judgment. Then we have some success, and begin to feel a little surer of ourselves. Finally, we get to the top of our game and succumb to the trap of thinking that there’s nothing we can’t master. As we get older and more experienced, we overestimate the accuracy of our judgments, especially when the task before us is difficult and when we’re involved with something of great personal importance.:

CIT A ‘Wake-Up Call’ For Small Businesses (WSJ)
CIT’s financial struggles, which have sent manufacturers and retailers scrambling for alternative sources of credit since they came to light, are a stark reminder for all small business owners not to put all their eggs in one borrowing-basket. If they haven’t already, entrepreneurs should be considering loans from credit unions and exploring financing programs backed by the federal or local governments.

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