NewsFeeds 7.5.10

Hampton Roads Bankshares lines up $255M in new capital (Virginian-Pilot)
Hampton Roads Bankshares Inc. said Thursday that it lined up investors for an additional $110 million of capital as part of a plan for shoring up its crippled balance sheet. The Norfolk-based parent of Bank of Hampton Roads, Shore Bank and Gateway Bank & Trust announced in May that it hoped to raise $275 million of badly needed capital, including $145 million from two institutional investors and another $20 million from existing shareholders.

Martinovich’s riverfront home on the market for $2.6M (Daily Press)
The riverfront home of Jeffrey A. Martinovich, the embattled head of Newport News financial services firm MICG Investment Management, is for sale.

Retailers Devise Stimulus Plans to Revive Sales (NY Times)
Tired of waiting for spending to rebound on its own, retailers are taking matters into their own hands. Stores like Sam’s Club, Target, Toys “R” Us, Staples and Office Depot are offering unconventional promotions meant not only to attract visitors to stores, but also to get them feeling profligate.

Cars with wings may be just around the corner (USA Today)
If cars had wings, they could fly — and that just might happen, beginning next year. The company Terrafugia, based in Woburn, Mass., says it plans to deliver its car-plane, the Transition, to customers by the end of 2011. It recently cleared a major hurdle when the Federal Aviation Administration granted a special weight limit exemption to the Transition.

Tight Budgets Limit States’ Small-Business Programs (WSJ)
A number of states have stepped in to help cash-strapped entrepreneurs get access to credit, primarily by providing incentives to banks to lend more. But there’s a problem: The programs have been so popular that many states—already operating under tight or depleted budgets—may have trouble meeting the demand.

The View of Stimulus from a Small Business Perspective (Business Week)
TARP money has spurred a political debate that will never be settled. For many business owners, though, it made the difference between struggle and survival.

10 Hot Startups  (Entrepreneur)
Why these independents made us say ‘Wow!’ Learn how yours can, too.

Hampton Roads Bankshares lines up $255M in new capital (Virginian-Pilot)
Hampton Roads Bankshares Inc. said Thursday that it lined up investors for an additional $110 million of capital as part of a plan for shoring up its crippled balance sheet. The Norfolk-based parent of Bank of Hampton Roads, Shore Bank and Gateway Bank & Trust announced in May that it hoped to raise $275 million of badly needed capital, including $145 million from two institutional investors and another $20 million from existing shareholders.

Martinovich’s riverfront home on the market for $2.6M (Daily Press)
The riverfront home of Jeffrey A. Martinovich, the embattled head of Newport News financial services firm MICG Investment Management, is for sale.

Retailers Devise Stimulus Plans to Revive Sales (NY Times)
Tired of waiting for spending to rebound on its own, retailers are taking matters into their own hands. Stores like Sam’s Club, Target, Toys “R” Us, Staples and Office Depot are offering unconventional promotions meant not only to attract visitors to stores, but also to get them feeling profligate.

Cars with wings may be just around the corner (USA Today)
If cars had wings, they could fly — and that just might happen, beginning next year. The company Terrafugia, based in Woburn, Mass., says it plans to deliver its car-plane, the Transition, to customers by the end of 2011. It recently cleared a major hurdle when the Federal Aviation Administration granted a special weight limit exemption to the Transition.

Tight Budgets Limit States’ Small-Business Programs (WSJ)
A number of states have stepped in to help cash-strapped entrepreneurs get access to credit, primarily by providing incentives to banks to lend more. But there’s a problem: The programs have been so popular that many states—already operating under tight or depleted budgets—may have trouble meeting the demand.

The View of Stimulus from a Small Business Perspective (Business Week)
TARP money has spurred a political debate that will never be settled. For many business owners, though, it made the difference between struggle and survival.

10 Hot Startups  (Entrepreneur)
Why these independents made us say ‘Wow!’ Learn how yours can, too.

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