|
With the numbers once again tumbling on Wall Street today, bad economic news seems to be in no short supply.
Just last week, Wachovia, the region’s biggest bank, announced it was being taken over by Citigroup. Wachovia then offered a surprise announcement that it was merging with Wells Fargo. Today Citigroup filed a complaint in New York Supreme Court against Wachovia, Wells Fargo and the directors of both companies. The complaint seeks $60 billion in damages for interfering with Citigroup’s planned takeover of Wachovia. In a local banking announcement, BB&T announced that it would be closing its Wadsworth branch office in Radford. The company says it will merge the Wadsworth operations with those of the BB&T branch on East Main Street in Radford. Unemployment numbers were released last week for August by the Virginia Employment Commission. The New River Valley unemployment rates coming in higher than the state average. According to the VEC, Pulaski County had the highest rate at 9.4 percent. That rate is a point higher than July and three points higher than the August of 2007. Radford saw it’s unemployment rate decrease slightly from 8 percent in July to 7.7 percent in August. Giles County to 6 percent from 5.9 percent in July. Montgomery County had a decrease in unemployment from 5.4 percent in July to 5.2 percent in August. The state of Virginia registered an unemployment rate of 4.6 percent in August, which is the highest level for the state since January 1997, which also registered 4.6 percent. Job seekers can attend a job fair this week in Salem that will offer jobs in the Roanoke and New River Valleys. The fair is Thursday, Oct. 9, 9 a.m. to 4 p.m. at the Holiday Inn at 450 Litchell Road in Salem.
|
Subscribe to this comment's feed
