Hotel John Marshall renovation work starting, developers say (Times-Dispatch)
Work is scheduled to start today on restoring the 16-story hotel and transforming it into a mixed-used residential and commercial building with 238 rental apartments and 20,000 square feet of street-level retail space, said executives with Dominion Realty Partners and Virginia Atlantic Development, the two firms that are partnering on the project. Editor’s note: Several previous attempts to renovate the iconic building have failed to find adequate financing. It’s also unclear at this point if sufficient demand exists for 240 apartments in that neighborhood.
Someone is changing $5 bills into C-notes (Petersburg Progress-Index)
Police are alarmed by an increasing circulation of counterfeit money. While a total of 19 instances involving counterfeit bills in the city were recorded in 2008, that number went up to 26 in 2009.
Wage up, but job losses skew local data (Virginian-Pilot)
In its latest National Compensation Survey, the federal Bureau of Labor Statistics reported that the average for Hampton Roads climbed to $17.96 an hour last year from $16.94 in 2008. The increase was skewed, however, by heavy job losses in the region and negligible hiring by employers, said economists with the Hampton Roads Planning District Commission.
Banks receiving government aid cut loans (USA Today)
Banks that received federal assistance during the financial crisis reduced lending more aggressively and gave bigger pay raises to employees than institutions that didn’t get aid, a USA TODAY/American University review found.
Hulu pushes forward with $9.95 subscription service (LA Times)
Hulu, the popular online site for watching television shows, plans to begin testing a subscription service as soon as May 24, according to people with knowledge of the plans.
Businesses Wait for Green Energy Payback (WSJ)
In recent years, several federal and state programs have emerged to help owners cover part of the cost of pricey alternative-energy investments such as solar panels and wind turbines. Owners who’ve tapped those incentives say they expect to make up the balance – and possibly come out ahead – by spending less on utility bills and selling renewable energy credits or any excess energy they produce to power-supply companies. The downside: It could take years before that happens.
Green Business: From Niche to Mainstream (Entrepreneur)
A look at how the green landscape has evolved over the last 40 years.