Toxic loans saddle banks with non-performing assets (Virginian-Pilot)
A handful of other local community banks have reported mounting financial pressure from nonperforming assets in recent months. Hampton Roads Bankshares is promoting an array of bank-owned properties via the Internet in an effort to slash its nonperforming assets. A website linked to its bank subsidiaries describes more than 120 properties, including vacant lots on the Eastern Shore for single-family homes, a commercial tract in Wanchese, N.C., and 13 acres near Myrtle Beach, S.C., zoned for multifamily units.
The man behind the ‘Greatest Show on Earth’ (Washington Post)
For all the beat-the-drum, here-come-the-elephants pizazz of its events, Kenneth Feld is largely a behind-the-scenes ringmaster, preferring to orchestrate operations from his Tysons office, Ringling’s winter headquarters near Tampa, or, better yet, from a seat in the audience.
Who Knew Bankruptcy Paid So Well? (NY Times)
These megacases — Lehman, General Motors, Chrysler and Washington Mutual, to name a few — are orders of magnitude larger than most bankruptcies in the past, and their size and complexity have created a feeding frenzy of sorts for those asked to sort them out. To date, Weil, the lead law firm representing Lehman, has billed the Lehman estate for more than $164 million. Analysts, lawyers and others involved in the larger bankruptcy boom say that some fees are legitimate — and that others are, at a minimum, highly questionable.
Boards of United, Continental Airlines OK plan to merge (USA Today)
United Airlines’ decade-long quest for a partner ended Sunday when its directors and Continental Airlines’ directors agreed to merge to create the world’s biggest carrier.
8 Tips on Being a Successful CEO (Inc.)
Are you looking to climb to the top of your industry while still maintaining your sanity? We asked 8 CEOs, including Bob Parsons of Go Daddy, for their advice on how to be a better boss.
Dear Business Owner: Your Health Tax Credit Awaits (WSJ)
Last week, the Internal Revenue Service announced that it’s sending postcards to more than four million small businesses urging them to check if they qualify for the tax break. It’s being offered in two phases, with the first worth up to 35% of qualifying businesses’ premium health-care costs for tax years 2010 through 2013. The rate increases to 50% in 2014. The maximum length of potential coverage for qualifying employers is six taxable years: four years under the first phase and two years under the second.
Toxic loans saddle banks with non-performing assets (Virginian-Pilot)
A handful of other local community banks have reported mounting financial pressure from nonperforming assets in recent months. Hampton Roads Bankshares is promoting an array of bank-owned properties via the Internet in an effort to slash its nonperforming assets. A website linked to its bank subsidiaries describes more than 120 properties, including vacant lots on the Eastern Shore for single-family homes, a commercial tract in Wanchese, N.C., and 13 acres near Myrtle Beach, S.C., zoned for multifamily units.
The man behind the ‘Greatest Show on Earth’ (Washington Post)
For all the beat-the-drum, here-come-the-elephants pizazz of its events, Kenneth Feld is largely a behind-the-scenes ringmaster, preferring to orchestrate operations from his Tysons office, Ringling’s winter headquarters near Tampa, or, better yet, from a seat in the audience.
Who Knew Bankruptcy Paid So Well? (NY Times)
These megacases — Lehman, General Motors, Chrysler and Washington Mutual, to name a few — are orders of magnitude larger than most bankruptcies in the past, and their size and complexity have created a feeding frenzy of sorts for those asked to sort them out. To date, Weil, the lead law firm representing Lehman, has billed the Lehman estate for more than $164 million. Analysts, lawyers and others involved in the larger bankruptcy boom say that some fees are legitimate — and that others are, at a minimum, highly questionable.
Boards of United, Continental Airlines OK plan to merge (USA Today)
United Airlines’ decade-long quest for a partner ended Sunday when its directors and Continental Airlines’ directors agreed to merge to create the world’s biggest carrier.
8 Tips on Being a Successful CEO (Inc.)
Are you looking to climb to the top of your industry while still maintaining your sanity? We asked 8 CEOs, including Bob Parsons of Go Daddy, for their advice on how to be a better boss.
Dear Business Owner: Your Health Tax Credit Awaits (WSJ)
Last week, the Internal Revenue Service announced that it’s sending postcards to more than four million small businesses urging them to check if they qualify for the tax break. It’s being offered in two phases, with the first worth up to 35% of qualifying businesses’ premium health-care costs for tax years 2010 through 2013. The rate increases to 50% in 2014. The maximum length of potential coverage for qualifying employers is six taxable years: four years under the first phase and two years under the second.