NewsFeeds 10.22.09

Pay cuts at Williams Mullen (Above the Law)
Williams Mullen, the large and prominent Virginia-based law firm, announced yesterday that it will be cutting associate salaries by 7.5 percent, effective in January 2010. The new starting salary for associates will be $117,000 (in all offices other than D.C.).

Media General posts 3Q loss (AP)
Falling ad revenue and a big one-time charge pushed newspaper and TV station owner Media General Inc. to a third-quarter loss, the company said Wednesday.

Intermet to close foundry (Roanoke Times)
Intermet Corp. has announced plans to close its New River Foundry in Radford on Dec. 12 and dismiss its remaining 76 workers, two union officials said Wednesday.

U.S. to Order Steep Pay Cuts at Firms That Got Most Aid (NY Times)
Responding to the furor over executive pay at companies bailed out with taxpayer money, the Obama administration will order the firms that received the most aid to slash compensation to their highest-paid employees, an official involved in the decision said on Wednesday.

Obama announces plan to boost small businesses (USA Today)
Obama will ask Congress to increase the top limits on Small Business Administration loans. The loans for standard small-business borrowers would go from $2 million to $5 million, and to $5.5 million for manufacturers. The size of the SBA’s Microloan would increase from $35,000 to $50,000.

Ask Inc.: Protecting Yourself From Copycat Competitors (Inc.)
Some good tips. Even if you suffer an attack of the clones, resist the temptation to badmouth the competition to your customers.

The Art of the Soft Sell (Business Week)
The low-pressure sale is back. How to use costumer-centric selling to build loyalty and revenues