Empty offices tax Henrico coffers (Times-Dispatch)
Empty commercial buildings are cutting deeply into local governments’ tax bases across the region. In the case of the former Circuit City headquarters at 9954 Mayland Drive, Henrico’s reassessment will cost the county about $337,000 a year in real estate taxes at the current rate of 87 cents per $100 of assessed value.
Sales slump seals Scan-World’s fate after 23 years (Virgininan-Pilot)
Scan-World, which has sold Danish furniture at Hilltop for 23 years, is closing at the end of March.
Obama proposes $30 billion allocation for small-business loans (Washington Post)
The administration is proposing to offer small-business lenders a relatively inexpensive way to raise capital. The banks would pay only 5 percent in a dividend to the government. That dividend could be reduced to as little as 1 percent if a bank increased its lending by 10 percent over the next two years. In other words, the more the banks lend to small businesses, the better terms they would get.
Huge Deficits May Alter U.S. Politics and Global Power (NY Times)
Unless miraculous growth, or miraculous political compromises, creates some unforeseen change over the next decade, there is virtually no room for new domestic initiatives for Mr. Obama or his successors. Beyond that lies the possibility that the United States could begin to suffer the same disease that has afflicted Japan over the past decade. As debt grew more rapidly than income, that country’s influence around the world eroded.
Asset-Based Lending Grows in Popularity (WSJ)
Asset-based lending, once considered a last-resort finance option, has become a popular choice for companies that don’t have the credit ratings, track record or patience to pursue more traditional capital sources. Because asset-based lenders focus on collateral, rather than credit-worthiness, they do deals that more traditional lenders shy away from.
The Way I Work: Paul English of Kayak (Inc.)
Kayak.com co-founder Paul English is obsessed with customer service. That’s why he bought the most annoying phone he could find.
Time to “Hunker Down?” (Business Week)
Not necessarily. Drastic cuts in travel, benefits, and training can be devastating to long-term viability and success.