Advertisement
March 19, 2009
Mortgage rates likely to sink on Fed actions
Fed buy may bring mortgage rate drop If you’ve got a good job, solid credit and your home’s value hasn’t fallen dramatically, you’re...
Fed launches $1.2 trillion effort to revive economy
Fed efforts aim to revive economy It will buy long-term government bonds, mortgage securities The Federal Reserve will inject about $1 trillion into the...
March 18, 2009
Fed to buy up to $300B long-term Treasury bonds
The Federal Reserve announced Wednesday it will spend up to $300 billion over the next six months to buy long-term government bonds, a new step aimed at...
March 17, 2009
Obama’s economics guru defends deficit spending
Obama’s economics guru defends deficit spending Lawrence Summers, President Barack Obama’s closest economic adviser, broke a long public silence...
March 16, 2009
Foreclosures illustrate mortgage meltdown
None of the half-dozen bargain-hunters knew for sure how many homes would be auctioned off on the steps of Chesterfield County Courthouse last week. Of...
Business events scheduled for coming week
Indicators MONDAY Federal Reserve releases industrial production for February. TUESDAY Labor Department releases the Producer Price Index for February....
Business co-founder to discuss ‘opportunity in chaos’
Business co-founder to discuss ‘opportunity in chaos’ Take a little advice from someone who started his business during a recession: It just...
Tips to build, maintain business credibility
Overcoming the ‘trust crisis’ Some tips to build and maintain your business credibility As tales of massive fraudsters permeate the news, businesspeople...
Companies revamp stock compensation
Compensation revamped Some companies are revamping compensation plans in ways that increase the chance for holders of stock options to make a big windfall...
March 15, 2009
Values sustain immigrant businesses in downturn
Even in this economy, people launch businesses. For instance, Jack Nasser of Henrico County dipped into his savings and opened a used-auto dealership in...
March 14, 2009
Va. unemployment jumps to 6.4% in January
State unemployment rate jumps to 6.4% January reading up sharply but below U.S. figure; all 10 metro areas report increase Virginia’s unemployment...
China sends U.S. a message on dollar
China sends a message on dollar Leader a ‘bit worried’ about asset safety amid U.S. spending China’s premier didn’t say it in so...
Money funds get new scrutiny after collapse
Money funds getting new scrutiny after collapse It’s not the sexiest investment around, but the moneymarket mutual fund has become a high-demand...
March 12, 2009
Study of bankruptcy laws urged at hearing
Bankruptcy experts urged a congressional subcommittee yesterday to examine whether changes to the bankruptcy law in 2005 led to the demise of Circuit City...
Va. unemployment rate accelerates, hits 17-year high
Virginia’s jobless rate in January rose to its highest level in nearly 17 years as an increasing number of the state’s employers laid off workers...
China’s exports make record drop
BEIJING Arecord decline in China’s exports in February highlights the region’s dependence on Western consumers. Exports in February plunged...
Innovators sought
The recession is challenging companies to find new ways of doing business. Innovation is helping many businesses not only survive but thrive. Have you...
Va. foreclosure filings slow in February
Foreclosure filings in Virginia in February rose 15 percent from the same month a year ago—the smallest year-to-year percentage increase in two years,...
March 11, 2009
Virginia’s jobless rate is 6 percent in January
Virginia’s unemployment rate in January jumped to 6 percent on a seasonally adjusted basis, up from 5 percent in December, a U.S. Labor Department’s...
Virginia lost nearly 4,000 jobs in 2008
As the recession deepened during the last four months of 2008, layoffs and staff reductions turned Virginia’s job growth negative. Rather than adding...
March 10, 2009
Comparing current recession to early 1980s
WASHINGTON Factory jobs disappeared. Inflation soared. Mortgages carried double-digit interest rates. Unemployment climbed to alarming levels. The hungry...
March 09, 2009
Market stagnates as future remains cloudy
Hopes for the economy to pull out of its nose-dive were bolstered last month with the passing of a $787 billion stimulus package. According to the latest...
March 07, 2009
Huge layoffs push joblessness toward double digits
The recession snatched more than 650,000 Americans’ jobs for a record third straight month in February as unemployment climbed to a quarter-century...
Vaughan-Bassett Furniture plans expansion in Galax
While companies nationwide are cutting production and shedding employees to cope with a bleak economy, Vaughan-Bassett Furniture Co. is planning to stay...
As unemployment rises, those with jobs cite devotion to work ethic
Quinzella Lyons is frightened by the souring economy and its ever-increasing drain on the job market. But, she said, she’s not at all worried. As...
March 06, 2009
Jobless rate bolts to 8.1 percent in February
The unemployment figure is the highest since late 1983; payrolls drop 651,000. Says one analyst: “There’s no hope for a turnaround any time...
Cause of financial crisis complex, bank executive says
A major deregulation of the U.S. financial system in the late 1990s that allowed banks and brokerages to merge did not cause the current financial crisis,...
End of an era: Circuit City closes Sunday night
Circuit City will disappear from the retail landscape by Sunday night. All of the retailer’s remaining 500-plus stores will close by then, ending...
New jobless claims drop more than expected
The number of new jobless claims and the total number of people receiving unemployment benefits dropped more than expected last week, though they remain...
New high for homeowners late on mortgage or in foreclosure
A stunning 48 percent of the nation’s homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and...
