BoA building losing tenants (Inside Business)
Some of the largest tenants in the Bank of America building have fled, most notably to the Wells Fargo Center on Monticello Avenue, enticed by more modern space and larger floor plates.
Ukrop’s sues Valley Bank over construction dispute (Roanoke Times)
Ukrop’s Super Markets claims that Valley Bank, the new owner of the Ivy Market retail center, owes the company at least $8.7 million, in addition to accrued interest and court costs, according to the lawsuit filed Thursday in Richmond Circuit Court. Ukrop’s also wants to end its 20-year lease at the Roanoke site on Franklin Road, where rent started at $15 a square foot, court documents state. The lease began on March 23, 2006, and Ukrop’s had five five-year options to renew it after the 20th year.
Rise of the renting class (Fortune)
Home ownership was the gold standard American Dream. But the financial crisis showed owning can easily be a nightmare
The Volt, G.M.’s Plug-In Car, Gets a $41,000 Price Tag (NY Times)
General Motors on Tuesday put the base price of its Chevrolet Volt, a plug-in car capable of driving about 40 miles on battery power without using gasoline, at $41,000 before a $7,500 federal tax credit.
Companies hold record $837B in cash, yet won’t hire workers (USA Today)
Cash is gushing into companies’ coffers as they report what’s shaping up to be the third-consecutive quarter of sharp earnings increases. But instead of spending on the typical things, such as expanding and hiring people, companies are mostly pocketing the money and stuffing it under their corporate mattresses.
Brewing Honest Tea (WSJ)
Seth Goldman talks about the company’s partnership with Coke, how he responds to critics and what it’s like to count the President as a fan.
Stop Enforcing Noncompetes (Inc.)
Because we need to promote competition for labor and talent among start-up companies in fast-growing industries.