NewsFeeds 9.9.10

Circuit City liquidation plan approved in bankruptcy court (Times-Dispatch)
Unsecured creditors, such as suppliers, should get between 10 percent and 32 percent of the amount they are owed. Unsecured claims range from $1.8 billion to $2 billion.

Local billionaire Kluge, one of America’s richest men, dies at 95 (Daily Progress)
Media mogul, socialite and philanthropist John W. Kluge used his wealth to create television networks, save lives, promote education and honor the accomplishments of others.

McDonnell unveils plan to sell state liquor stores (Roanoke Times)
Gov. Bob McDonnell’s plan to privatize liquor sales in Virginia would triple the number of retail establishments where distilled spirits can be purchased in the state and generate a one-time windfall of at least $458 million to finance transportation projects, the administration said Wednesday.

Supplier of steel for submarines charged with fraud (Daily Press)
Federal prosecutors have charged a supplier of steel and other metal parts for Virginia Class submarines with defrauding the U.S. government of more than $1 million by allegedly supplying a Navy subcontractor with metal that did not meet the Navy’s specifications.

Light bulb factory closes; End of era for U.S. means more jobs overseas (Washington Post)
The last major GE factory in Winchester making ordinary incandescent light bulbs in the United States is closing this month, marking a small, sad exit for a product and company that can trace their roots to Thomas Alva Edison’s innovations in the 1870s.

As Stadiums Vanish, Their Debt Lives On (NY Times)
It’s the gift that keeps on taking. The old Giants Stadium, demolished to make way for New Meadowlands Stadium, still carries about $110 million in debt, or nearly $13 for every New Jersey resident, even though it is now a parking lot.

Shortages of trucks and truck drivers stall product deliveries (USA Today)
The crunch is defying a tepid recovery and near-10% jobless rate that should supply a vast pool of unemployed construction and manufacturing workers. Shortages are likely to worsen when the economy heats up and new rules kick in later this year that will make it tougher to hire drivers with poor safety records and could limit the number of hours drivers can work, experts say.

The Challenges Facing Burger King Buyer 3G Capital (Business Week)
The investment outfit and its Brazilian backers will need to do more than just cut costs at the troubled burger chain.

How to Fill a Job Nobody Wants (Inc.)
Sometimes that “post it and they will come” mentality doesn’t work when you have a pesky position to fill. So we’ve asked the experts to weigh in with strategies on how to hire for that less-than-desirable job.

Circuit City liquidation plan approved in bankruptcy court (Times-Dispatch)
Unsecured creditors, such as suppliers, should get between 10 percent and 32 percent of the amount they are owed. Unsecured claims range from $1.8 billion to $2 billion.

Local billionaire Kluge, one of America’s richest men, dies at 95 (Daily Progress)
Media mogul, socialite and philanthropist John W. Kluge used his wealth to create television networks, save lives, promote education and honor the accomplishments of others.

McDonnell unveils plan to sell state liquor stores (Roanoke Times)
Gov. Bob McDonnell’s plan to privatize liquor sales in Virginia would triple the number of retail establishments where distilled spirits can be purchased in the state and generate a one-time windfall of at least $458 million to finance transportation projects, the administration said Wednesday.

Supplier of steel for submarines charged with fraud (Daily Press)
Federal prosecutors have charged a supplier of steel and other metal parts for Virginia Class submarines with defrauding the U.S. government of more than $1 million by allegedly supplying a Navy subcontractor with metal that did not meet the Navy’s specifications.

Light bulb factory closes; End of era for U.S. means more jobs overseas (Washington Post)
The last major GE factory in Winchester making ordinary incandescent light bulbs in the United States is closing this month, marking a small, sad exit for a product and company that can trace their roots to Thomas Alva Edison’s innovations in the 1870s.

As Stadiums Vanish, Their Debt Lives On (NY Times)
It’s the gift that keeps on taking. The old Giants Stadium, demolished to make way for New Meadowlands Stadium, still carries about $110 million in debt, or nearly $13 for every New Jersey resident, even though it is now a parking lot.

Shortages of trucks and truck drivers stall product deliveries (USA Today)
The crunch is defying a tepid recovery and near-10% jobless rate that should supply a vast pool of unemployed construction and manufacturing workers. Shortages are likely to worsen when the economy heats up and new rules kick in later this year that will make it tougher to hire drivers with poor safety records and could limit the number of hours drivers can work, experts say.

The Challenges Facing Burger King Buyer 3G Capital (Business Week)
The investment outfit and its Brazilian backers will need to do more than just cut costs at the troubled burger chain.

How to Fill a Job Nobody Wants (Inc.)
Sometimes that “post it and they will come” mentality doesn’t work when you have a pesky position to fill. So we’ve asked the experts to weigh in with strategies on how to hire for that less-than-desirable job.

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