Equity fund to take over troubled West Broad Village (Times-Dispatch)
Editor’s Pick. E/Class MB Partners Fund I, a new private equity fund managed by two principals at Eagle Construction of Virginia, is investing an initial $8.7 million into West Broad Village. The fund will take over control of the property from its out-of-state developer and oversee planning, financing, construction and maintenance.
Va. papers, Wall Street Journal battle over legal ads (Virginian-Pilot)
The Journal wants to penetrate a number of Virginia markets, including Hampton Roads and Richmond, and has sought court orders to be permitted to solicit for legal ads. The explosion in home foreclosures is driving the effort.
Agency to bring $64 million in salaries to region (Daily Progress)
When the Defense Intelligence Agency brings an estimated 800 employees to Rivanna Station in September, it will join the nearly $110 million defense-related industry already headquartered in Central Virginia.
Renters becoming latest victims as foreclosure crisis widens (Washington Post)
A new wave of foreclosures stands to hurt people who may have never taken out a mortgage: renters. In cities such as New York, Chicago and Los Angeles, where many investors are carrying upside-down mortgages on large rental buildings, some tenants are watching their homes fall apart along with the financing.
The Entrepreneur Economy (Entrepreneur)
While the corporate world struggles to find its footing, entrepreneurs are stepping up with new ideas.
Wall Street: Is It Good to Apologize for Greed? (BusinessWeek)
What would J.P. Morgan have said about regret expressed by Goldman Sachs CEO Lloyd Blankfein? History tells us the apology was a savvy investment
