Early Briefing: More Pain at Sallie

*Sallie Mae, hurt by the credit crunch and legislation, is going to lay off about 3 percent of its workforce, or 350 employees. Fourteen of those cuts are coming at its Reston headquarters. See story

*Massey Energy of Richmond agreed to pay $20 million largest such fine imposed by the Environmental Protection Agency, after an investigation found more than 4,500 instances in which mine runoff tainted nearby waters. Massey also pledged to make $10 million worth of upgrades and clean up a West Virginia stream. See story.

*Steven Larsen, the chairman of the Public Service Commission, urged lawmakers to approve legislation that would give regulators the authority to force power companies to return some of the nearly $1 billion they say were undisclosed costs related to Maryland's move to a deregulated, competitive energy market. See story.

By Terri Rupar  |  January 18, 2008; 5:00 AM ET  | Category:  Morning Brief
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