Virginia must borrow to make jobless payments (Times-Dispatch)
Virginia will need to borrow as much as $1.27 billion from the federal government over the next three years to keep making unemployment compensation payments.The state trust fund’s balance has plunged from just less than $547 million at the start of the year to about $69 million now. One reason: The number of people filing for benefits so far this year is up nearly 80 percent from last year.
Buyer sought for Kingsmill Resort (Virginia Gazette)
Busch Properties has signed with a commercial real estate broker with the idea of selling Kingsmill Resort. In a letter e-mailed Monday to members of the Kingsmill Golf Club, general manager Robin Carson said “we have just begun this process, but our intention is to sell the property if appropriate terms can be met.”
Judge starts deliberating case over Arby’s signs (Daily Progress)
The latest skirmish between the owner of Arby’s Forest Lakes and Albemarle County over his use of signs and advertising is now in the hands of a judge. The case pits the county against a business owner who is an outspoken critic of what he deems excessive and unfair enforcement of county regulations.
FDIC Seeks Fees to Shore Up Reserve (Washington Post)
With banks failing faster than the government expected a few months ago, the federal agency that insures deposits on Tuesday called for a $45 billion cash infusion from the banking industry, seeking to raise additional funds needed to continue protecting deposits.
MBA Pay: Riches for Some, Not All (BusinessWeek)
Schools publish average salary figures that suggest most grads will reap rich rewards, but for many the “average” is a distant dream.
The price is right if you can spend again (BNET)
How four companies have scored big deals by not letting a good crisis go to waste.
