NewsFeeds 11.03.09

Midlothian-based Bank of Virginia to enter written agreement with regulators (Times-Dispatch)
“While we do not know the exact contents of the written agreement at this time, we expect that it will require us to implement plans to improve our risk management and compliance systems, oversight functions, operating and financial management and capital gains,” said Frank Bell, president and chief executive officer of the Midlothian-based bank.

Ex-Advantis workers file suit against owner (Inside Business)
The saga of Advantis Real Estate Services isn’t over yet. A group of former Advantis employees, mostly in Florida and Georgia, have filed suit against three Advantis companies, CEO and Chairman Jeff Neal, and COO Robert Brumm.

Bad loans hampering StellarOne performance (Roanoke Times)
StellarOne Bank said borrowers behind on their loans, many at Smith Mountain Lake, drove its third-quarter loss to $7.7 million. The bank, which earned $2 million during the same period a year ago, posted a total loss of $8.1 million during the July-September quarter. It paid additional charges related to the receipt of a federal capital investment under the Troubled Asset Relief Program.

Ford Posts an Unexpected Profit of $997 Million (NY Times)
While its crosstown rivals stumbled through bankruptcy this summer, the Ford Motor Company pressed its advantage, and delivered surprising news on Monday that its cost-cutting efforts and improving sales helped it earn nearly $1 billion in the third quarter.

More walk away from homes, mortgages (USA Today)
Walking away from a mortgage is serious business — it can knock 100 points off your credit score and make you ineligible for a new mortgage for seven years. But more will walk away, which will hamper the housing recovery, reinforce lenders’ tight credit policies and drag on the economy’s recovery, economists say.

Entrepreneurs: The New Celebrities (WSJ)
Trying to tap into the popular belief that entrepreneurs are somehow more authentic — and more innovative — than big corporations, a handful of the country’s highest-profile employers are tapping small businesses as spokesmodels.

19 Blogs You Should Bookmark Right Now (Inc.)
There are millions of blogs out there. And most of them aren’t worth your time. So we scoured the Web and came up with a list of the smartest bloggers, who just might help you run a better business.

Why Does College Cost So Much? (The Motley Fool)
Two William & Mary professors tackle the “hot-button issue” of the skyrocketing cost of higher education in a new book to be published by Oxford University Press next year. Here, Fool contributor Rich Smith shares the answers he got from his former economics professor David Feldman, co-author of the book with colleague Robert Archibald.