NewsFeeds 12.2.09

Markel Corp. buys majority interest in dredge maker (Times-Dispatch)
Markel Corp.’s stepped-up interest in acquiring control of private companies landed another old-line industrial company — this one, a 124-year-old maker of dredges.

Developer buys Union Mission, plans middle-income apartments (Virginian-Pilot)
The Union Mission, a 100-year-old downtown building used for years as a homeless shelter, has been purchased by a Columbia, S.C., company that plans to turn it into apartments, Mayor Paul Fraim will announce this morning.

FHA to toughen rules for borrowers (Washington Post)
The Federal Housing Administration is proposing to increase the up-front cash paid by borrowers as part of an effort to shore up the agency’s finances, which have been staggered by rising defaults in its flagship mortgage insurance program, according to FHA officials.

Credit Helps to Lift U.S. Home Sales (NY Times)
The number of homes with sales pending reached its highest level in three years in October, as Americans took advantage of a government-financed credit for first-time home buyers.

Case concerns student loans, bankruptcy (USA Today)
Four years after Francisco Espinosa took out student loans to attend an Arizona trade school, he had not advanced beyond his job as an airline ramp agent in Phoenix and faced $13,250 in student debt. He declared bankruptcy, and a judge allowed him to pay off part of the loan and wipe out the remaining debt. Tuesday, Supreme Court justices considered Espinosa’s case in a closely watched dispute that could affect debtors and creditors nationwide when student loans cannot be repaid.

Candid Talk About Performance Evaluations (Entrepreneur)
It’s evaluation season–does any topic spark more debate between employees and managers?

How I Built It: Snoop Dogg to Open Snoopermarkets (WSJ Video)
Snoop Dogg talks to WSJ Small Business Editor Colleen DeBaise about his advice for would-be entrepreneurs.