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Virginia delegation split on bailout plan

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Virginia’s congressional delegation split Monday over the failed bailout plan. Five Republican and one Democratic House member in Virginia’s delegation voted against the $700 billion plan to buy up bad mortgage debt from struggling companies. Three other Virginia Republicans and two Democrats in the House voted for the measure. The House is adjourned until Thursday for the Jewish holiday, Rosh Hashanah. (Media General News Service)

-Citigroup’s $2.1 billion takeover of Wachovia will make it the largest bank in the state by number of deposits. Wachovia bank customers will become customers of New York-based Citibank. (Richmond Times-Dispatch)

-Old Dominion University economists predict that Hampton Roads economy’s growth rate will be the slower this year than it has been in the past decade. ODU’s State of the Region report forecasts a 1.7 percent growth in 2008. Economists are predicting the growth rate in 2009 could be even slower. (The Virginian-Pilot)

-The U.S. Army chose the Mark Center in Alexandria to place 6,400 jobs that were originally slated for Fort Belvoir. The move was opposed by Fairfax County officials, who are concerned Fairfax will receive the bulk of the traffic. Mark Center is located miles from a Metro station. The Army said the site saves it millions over other potential locations and that it is working with Alexandria officials to provide shuttles that would take commuters to and from a nearby Metro station, VRE stops and parking lots. (The Washington Post)


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