Golf course value plummets 50% (Virginia Gazette)
Ford’s Colony Country Club is for sale at barely half the assessed value. The club faced bankruptcy last year, largely due to a $17 million note held by Prudential. Today, the club is for sale at $9.95 million.
Legal aid layoffs expected (Virginia Lawyer’s Weekly)
In the wake of federal budget cuts, legal aid officials in Virginia say they face layoffs of up to 20 lawyers and 10 support staff without additional public or private relief.
TV Prices Fall, Squeezing Most Makers and Sellers (WSJ)
Television sets are much less expensive now because of an oversupply and continued pressure on prices from low-cost manufacturers and online retailers.
Banks boost lending as economy slowly warms up (USA Today)
After three years of Scrooge-like underwriting following 2008’s financial crisis, banks have turned on the spigot, boosting lending at annual rates as high as 8.2% since July, according to Federal Reserve statistics.
‘Cash Mobs’ Help Ignite Buy-Local Effort (WSJ)
The “cash mob,” a new social-networking-and-shopping movement, is aimed at increasing sales at selected small businesses.
Entrepreneurs that Got Filthy Rich in 2011 (Inc.)
Here’s a look at the 9 entrepreneurs and (and one investor) that got filthy, stupid, absurdly rich in 2011 by cashing out or going public.