Large layoffs possible in Virginia (Times-Dispatch)
Thousands of state and local government employees face layoffs because of the severe budget cuts.
Clifton Forge’s new hopes (Roanoke Times)
Entrepreneurs see an upside after the town’s long decline. Rick Tabb has helped raise money to build a new train station. Louise Belmont wants to turn the former Clifton Forge High School into an arts college.
Future of brewery looks vulnerable (Virginia Gazette)
With layoffs imminent locally and a corporate goal to cut another $500 million this year, what’s next at the brewery?
How Pandora Slipped Past the Junkyard (NY Times)
Pandora’s 48 million users tune in an average 11.6 hours a month. That could increase as Pandora strikes deals with the makers of cars, televisions and stereos that could one day, Pandora hopes, make it as ubiquitous as AM/FM radio. But for a decade the company was on the brink of collapse.
Regulators shut 3 more banks to bring total this year to 25 failures (USA Today)
Regulators on Friday shuttered banks in Florida, Illinois and Maryland, boosting to 25 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.
TALF, Kickstarter for Small-Business Loans, Departs (WSJ)
This month, one of the initial recovery efforts aimed at the small-business lending market is set to expire. Announced in November 2008 and implemented almost exactly a year ago, the Term Asset-Backed Securities Loan Facility, or TALF, worked behind the scenes to propel the market for loans guaranteed by the Small Business Administration.
Bizarre Hiring Rituals (Inc.)
Institutions as diverse as religious orders, fraternities, and the military use ceremonies to welcome new members and communicate their beliefs. Businesses can do something similar. So long as they don’t devolve into hazing, company initiation rites speed up assimilation by engaging recent hires in activities that convey the organization’s character while creating an instant bond.