Former finance secretary to be sentenced for fraud (Times-Dispatch)
John W. Forbes II, a former Virginia secretary of finance, is set to be sentenced Monday in a $4 million fraud that victimized a fund that promotes economic development in Virginia’s hard-hit tobacco-dependent communities.
Verizon applies to ditch ‘white pages’ phone book (Virginian-Pilot)
As first reported by RBS, The state’s largest phone service provider has asked Virginia regulators to drop the requirement that it publish and distribute the white pages of residential listings. It argues that the Internet, wireless devices and other ways of finding a phone number today have made phone books unnecessary.
Evolutionary experience: Rule-fighting Arby’s becomes A Patriot’s Place (The Hook)
Editor’s Pick: Local Arby’s owner Tom Slonaker has never been shy about promoting his business while expressing his libertarian beliefs, a tendency that’s got him in some hot water with County officials over the years, and those beliefs appear to have helped create a new restaurant concept. Especially after he wanted to add soft-serve ice cream and “pressure cooked chicken.” Arby’s said no. So he said goodbye.
New affordable housing complex going up in Albemarle (Daily Progress)
A new, 88-unit affordable housing apartment complex is being built in Albemarle County. It’s said to be the first affordable, multifamily rental community of its kind in the area in 15 years.
Recruiting company comes to Roanoke (Roanoke Times)
Aerotek, which recruits employees for temporary, contract or permanent jobs, opened downtown.
Sell the Store, Then Buy It Back (WSJ)
Call them “boomerang” business owners. A handful of entrepreneurs who sold during flush times are repurchasing their old companies for cheaper prices.
Former KB Home CEO Bruce Karatz sentenced to five years’ probation (LA Times)
Penalty in options-backdating case includes eight months of house arrest. Karatz is also ordered to pay a $1-million fine and do 2,000 hours of community service.
Is a Start-up a Ticket to Divorce? (Inc.)
Divorce is often a result of financial strain, neglect, or lack of communication. But postmortems on the remains of business owners’ marriages can turn up all of these in abundance.