NewsFeed 7.29.09

Bad loans make bad quarter for StellarOne (Roanoke Times)
The company lost $785,000, or 3 cents a share, during the three months ended June 30, after having earned $6.1 million, or 27 cents a share, during the same period last year, a news release said. There are $25.3 million worth of loans associated with development or construction at or near Smith Mountain Lake on nonaccrual status.

Foreclosures Are Often In Lenders’ Best Interest (Washington Post)
Government initiatives to stem the country’s mounting foreclosures are hampered because banks and other lenders in many cases have more financial incentive to let borrowers lose their homes than to work out settlements, some economists have concluded.

Jersey Rules (Slate)
To cut political corruption, we must pay public officials more.

Lobbyists battle over drug sales (USA Today)
As Congress struggles with a massive health care overhaul, several lobbying powerhouses — including the pharmaceutical industry and the nation’s largest advocacy group for retirees — are locked in a contentious fight over the future of biotechnology drugs.

Can college teach you to sell? (BNET)
In sales, experience trumps textbooks. The best education comes strictly from the school of hard knocks. Or does it?

When the Boss Gets Cancer (Inc.)
What happened to a start-up when the founder discovered he was fighting cancer

Bad loans make bad quarter for StellarOne (Roanoke Times)
The company lost $785,000, or 3 cents a share, during the three months ended June 30, after having earned $6.1 million, or 27 cents a share, during the same period last year, a news release said. There are $25.3 million worth of loans associated with development or construction at or near Smith Mountain Lake on nonaccrual status.

Foreclosures Are Often In Lenders’ Best Interest (Washington Post)
Government initiatives to stem the country’s mounting foreclosures are hampered because banks and other lenders in many cases have more financial incentive to let borrowers lose their homes than to work out settlements, some economists have concluded.

Jersey Rules (Slate)
To cut political corruption, we must pay public officials more.

Lobbyists battle over drug sales (USA Today)
As Congress struggles with a massive health care overhaul, several lobbying powerhouses — including the pharmaceutical industry and the nation’s largest advocacy group for retirees — are locked in a contentious fight over the future of biotechnology drugs.

Can college teach you to sell? (BNET)
In sales, experience trumps textbooks. The best education comes strictly from the school of hard knocks. Or does it?

When the Boss Gets Cancer (Inc.)
What happened to a start-up when the founder discovered he was fighting cancer

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