Smart staying at VCU; agrees to new contract (Times-Dispatch)
N.C. State was in the hunt, but Shaka Smart is staying at VCU. Terms weren’t released because the contract hasn’t been finalized, but a source said his base pay will be $1.2 million annually. N.C. State was offering $2 million.
Maryland-based bank will open King George branch (Free-Lance Star)
Community Bank of Tri-County, which has 10 branches in southern Maryland, plans to open a 3,000-square-foot branch at the King George Gateway shopping center near the Dahlgren Navy base and a future University of Mary Washington graduate campus
Construction under way on 2 Gold Key/PHR projects (Inside Business)
Gold Key/PHR Hotels and Resorts, a Virginia Beach-based owner and operator of hotel properties, announced that construction began on two Oceanfront developments that could total more than $150 million in costs.
Feds seek $7M in privately made ‘Liberty Dollars’ (AP)
Fascinating. Federal prosecutors on Monday tried to take a hoard of silver “Liberty Dollars” worth about $7 million that authorities say was invented by an Indiana man to compete with U.S. currency.
Fed Help Kept Banks Afloat, Until It Didn’t (NY Times)
The Federal Reserve made emergency survival loans to more than 100 banks that ultimately failed anyway.
Wages not rising with consumer prices (Washington Post)
Inflation is back, with higher prices for food and fuel, and this time it really hurts because wages are not keeping pace.
How to Lead a Turnaround (Inc.)
In his new book, Onward, Starbucks founder Howard Schultz describes how he overcame slumping sales and quality control issues that threatened to destroy his company.
Don’t Melt Down (Entrepreneur)
As an entrepreneur, you’re probably either slightly frazzled, mildly frayed or full-on exhausted.