S&K set to go to liquidator (Times-Dispatch)
S&K Famous Brands Inc. likely will be auctioned off today to a company that will liquidate its merchandise and close its remaining 105 stores. In a court papers filed yesterday afternoon, the Henrico County-based menswear retailer said it would hold an auction at the Richmond office of its attorneys starting at 1 p.m.
Furloughs aren’t just for blue-collar workers anymore (Virginian-Pilot)
Furloughs – defined as temporary reductions in work hours and subsequent loss of pay – have reached the white-collar world, the public sector, even the nonprofit arena.
American Express says it will eliminate 4,000 jobs (USA Today)
American Express(AXP) said Monday it is eliminating about 4,000 jobs as part of a plan to slash another $800 million in costs for the remainder of the year. The layoffs represent about 6% of the New York-based credit card issuer’s current global work force.
Guy who sold a chain of papers to Media General re-envisions newsbiz (The Hook)
Former Daily Progress owner Thomas A. Worrell Jr., who in 1995 sold the DP and 28 other publications to Media General Inc. for $230 million, appears to have been somewhat prescient. Although Worrell might have made more if he’d held on for another 10 years, if he’d held on for another 15, he might have been left with nothing to sell.
Credit Card Industry Aims to Profit From Sterling Payers (NY Times)
Banks are expected to look at reviving annual fees, curtailing cash-back and other rewards programs and charging interest immediately on a purchase instead of allowing a grace period of weeks, according to bank officials and trade groups.
Don’t Count on Your 401(k) (Slate)
Our nation’s system of retirement security is imperiled, headed for a serious train wreck.That wreck is not merely waiting to happen; we are running on a dangerous track that is leading directly to a serious crash that will disable major parts of our retirement system. Gulp.
Emergency small business loans coming in June (Fortune)
An emergency loan program designed to shore up struggling-but-viable small businesses will open for applications in mid-June, the Small Business Administration announced Monday. Look for a local angle on this issue from RBS this week.
S&K set to go to liquidator (Times-Dispatch)
S&K Famous Brands Inc. likely will be auctioned off today to a company that will liquidate its merchandise and close its remaining 105 stores. In a court papers filed yesterday afternoon, the Henrico County-based menswear retailer said it would hold an auction at the Richmond office of its attorneys starting at 1 p.m.
Furloughs aren’t just for blue-collar workers anymore (Virginian-Pilot)
Furloughs – defined as temporary reductions in work hours and subsequent loss of pay – have reached the white-collar world, the public sector, even the nonprofit arena.
American Express says it will eliminate 4,000 jobs (USA Today)
American Express(AXP) said Monday it is eliminating about 4,000 jobs as part of a plan to slash another $800 million in costs for the remainder of the year. The layoffs represent about 6% of the New York-based credit card issuer’s current global work force.
Guy who sold a chain of papers to Media General re-envisions newsbiz (The Hook)
Former Daily Progress owner Thomas A. Worrell Jr., who in 1995 sold the DP and 28 other publications to Media General Inc. for $230 million, appears to have been somewhat prescient. Although Worrell might have made more if he’d held on for another 10 years, if he’d held on for another 15, he might have been left with nothing to sell.
Credit Card Industry Aims to Profit From Sterling Payers (NY Times)
Banks are expected to look at reviving annual fees, curtailing cash-back and other rewards programs and charging interest immediately on a purchase instead of allowing a grace period of weeks, according to bank officials and trade groups.
Don’t Count on Your 401(k) (Slate)
Our nation’s system of retirement security is imperiled, headed for a serious train wreck.That wreck is not merely waiting to happen; we are running on a dangerous track that is leading directly to a serious crash that will disable major parts of our retirement system. Gulp.
Emergency small business loans coming in June (Fortune)
An emergency loan program designed to shore up struggling-but-viable small businesses will open for applications in mid-June, the Small Business Administration announced Monday. Look for a local angle on this issue from RBS this week.