Circuit City’s ex-CEO to get $350,000 in bonuses (Times-Dispatch)
While Circuit City’s creditors wait to get paid, James A. Marcum, the company’s former acting president and CEO, will collect $350,000 in bonuses and charge $700 per hour in consulting fees.
Values of many of Hampton’s hotels tumbled as guests stayed away in recession (Daily Press)
The falling values of the city’s hotels were highlighted in a memo last week to Hampton City Council members from City Assessor Brian Gordineer. The assessor pointed out that the value of hotels is linked to how much income they bring in.
Cities going gaga over Google (Inside Business)
Fawning slightly less than teenyboppers at a Miley Cyrus concert, local IT and economic development departments are fast at work to outdo one another with the hopes of convincing Google to choose their municipality as a future test site for the Internet giant’s proposed ultra-high-speed broadband network.
Condo building resumes at troubled Ocean View project (Virginian-Pilot)
Virginia Beach-based condo developer Franciscus Co. agreed last fall to buy the remaining parcels of land at the beleaguered community and build 157 more homes there.
Junk Bond Avalanche Looms for Credit Markets (NY Times)
With huge bills about to hit corporations and the federal government around the same time, the worry is that some companies will have trouble getting new loans, spurring defaults and a wave of bankruptcies.
What if a college education just isn’t for everyone? (USA Today)
There’s an undercurrent of concern about a group of students — sometimes called “the forgotten half,” a phrase coined 22 years ago by social scientists studying at-risk young people — who, for whatever reason, do not think college is for them. It’s expressed by soul-searching parents such as Crave, whose son doesn’t thrive in the classroom. It’s also expressed increasingly by educators, economists and policy analysts, who question whether it’s realistic and responsible to push students into college even if the odds of academic success seem low.
Finding the Right CEO to Play Boss (Inc.)
Being the boss isn’t always easy, but handing the job to someone else can be even harder. Here, Method co-founder Eric Ryan (left) discusses how he and co-founder Adam Lowry (right) found the right candidate.
Entrepreneurs Question Value of Social Media (WSJ)
Marketing via Facebook, Twitter Yields Results for Some, Others Say It’s Overrated; ‘Hype Right Now Exceeds the Reality’