Archive: June 24, 2007 - June 30, 2007

Dynasty

Staff writer Michael Rosenwald profiles the Marriott family in the Washington Post Magazine this Sunday. His piece tells us how the Marriotts built a hotel empire from a D.C. soda stand, and ponders the question: Can the family remain true to its brand? J.W. Marriott Jr. (David Deal) See the...

By Dan Beyers | June 30, 2007; 12:21 PM ET | Comments (0)

Feds Offer Grants To Help With Base Closures

The Department of Labor is handing out $20 million in grants, much of it to the Washington area, to help workers affected by the government's decision to relocate various military operations around the country. Virginia will receive nearly $5 million, Maryland $4 million and the District $1 million. "Civilian workers...

By Dan Beyers | June 30, 2007; 7:27 AM ET | Comments (0)

The Morning Brief 06.30.07

Here's some of the local stories in the newspaper this morning. * Foreclosures up around the region. Regulators urge more oversight on loans. * Counterfeit toothpaste allegedly found in Arlington dollar store. The toothpaste was labeled as having been made in South Africa but had numerous mispellings such as "SOUTH...

By Dan Beyers | June 30, 2007; 6:57 AM ET | Comments (0)

ICF International Buys Rockville Tech Firm

ICF International of Fairfax is buying Rockville's Z-Tech Corp. for $27 million to help better position the government tech consultant in the market for health information. Z-Tech, which employs about 200 people, provides software engineering, Web design and development, and scientific computing services in support of federal health agencies. In...

By Dan Beyers | June 29, 2007; 2:40 PM ET | Comments (0)

Nasdaq Buys District Tech Firm

From the Associated Press: NEW YORK -- Nasdaq Stock Market Inc. said Friday it is purchasing privately held Directors Desk for an undisclosed amount. The Washington-based company provides technology to board members of public and private companies, including online voting, automated record keeping and Web conferencing. It currently counts more...

By Dan Beyers | June 29, 2007; 12:15 PM ET | Comments (0)

Tech Talk With Agent Zero

We enjoyed this post in Alexandria PR exec Geoff Livingston's Buzz Bin blog. He found himself sitting next to No. 0, Wizards star Gilbert Arenas, on a 9 p.m. JetBlue flight to Oakland. Wizards player Gilbert Arenas "A couple of interesting notes. Gilbert writes his own blog. He mentioned he...

By Dan Beyers | June 29, 2007; 7:00 AM ET | Comments (0)

Manufacturers Gain Say On Retail Prices

Post staffers Ylan Mui and Robert Barnes report this morning on a Supreme Court ruling overturning an antitrust rule that prohibited manufacturers from dictating minimum prices on their goods. The court said such pricing actions must be considered on a case-by-case basis and do not constitute a de facto antitrust...

By Dan Beyers | June 29, 2007; 6:52 AM ET | Comments (0)

BearingPoint Reports 2006 Results

The McLean management and technology consulting firm last night filed its 2006 results as its works to get back to timely financial reporting. The results shows a 1.6 percent gain in annual revenue over 2005 as losses narrowed. For 2007, BearingPoint reported bookings of $709.5 million for the first quarter...

By Dan Beyers | June 29, 2007; 6:34 AM ET | Comments (0)

The Morning Brief 06.29.07

Here's some of the local business stories that appeared in today's paper. *Private equity deals appear to be slowing down after financiers restructure some deals involving US Foodservice and Carlyle. * A federal panel delays a vote on whether to recommend MedImmune's FluMist for children under 5 after concerns were...

By Dan Beyers | June 29, 2007; 6:21 AM ET | Comments (0)

Rydex Investments Accepts Purchase Offer

Rydex Investments, a Rockville-based investment management company, has agreed to be acquired by Security Benefit, a Topeka, Kan.-based asset manager, the companies said in a statement today. Terms of the transaction were not disclosed. Rydex manages nearly $15 billion in assets through more than 80 mutual funds and exchange-traded products....

By Mike Shepard | June 28, 2007; 2:34 PM ET | Comments (0)

Martek Chairman Leaves Amid Sale of Unit

Columbia's Martek Biosciences is selling its fluorescent detection products business for $900,000 to a newly formed company that will be owned by its chairman Henry Linsert Jr. Linsert is stepping down from the Martek board and will be replaced as chairman by another director, Robert L. Flanagan. Martek said in...

By Dan Beyers | June 28, 2007; 12:31 PM ET | Comments (0)

Carlyle Buys Allison, Cuts IPO

A couple bits of Carlyle news: Carlyle is teaming up with Toronto buyout firm Onex to buy General Motor's Allison Transmission subsidiary for $5.6 billion. GM said in a release that a Baltimore plant that produces conventional and hybrid 2MODE transmissions for GM's pick-up trucks and SUVs and will remain...

By Dan Beyers | June 28, 2007; 11:50 AM ET | Comments (0)

AOL Unveils New Instant Message and E-Mail Product

The Dulles online giant said it is beta testing a new Web mail product that combines its AIM instant message service with AOL e-mail. It's also testing something it calls the AIM WIMZI Widget that is supposed to allow "bloggers, Web site owners and consumers with social networking profiles to...

By Dan Beyers | June 28, 2007; 8:27 AM ET | Comments (0)

Digging Up the Streets in Manassas

Verizon said it has begun laying fiber optic cable in Manassas and Manassas Park to bring high-speed Internet and possibly television services to the Northern Virginia communities. The company said it still must obtain cable franchises from the city councils in Manassas and Manassas Park in order to offer video...

By Dan Beyers | June 28, 2007; 8:18 AM ET | Comments (0)

Advancis Changes Name to MiddleBrook Pharmaceuticals, Inc

The Germantown pharmaceutical company will still focus on developing and commercializing anti-infective products but it needed to take a new identity to settle a dispute over its original name with European drug maker sanofi-aventis. The company said it will change its NASDAQ trading symbol to MBRK, effective with the start...

By Dan Beyers | June 28, 2007; 8:09 AM ET | Comments (0)

Va. Energy Giant To Buy Back Shares

Richmond's Dominion Resources says it plans to buy back nearly 16 percent of the company's shares, using some of the proceeds from the pending sales of its oil and natural gas exploration and production units. The tender offer will commence in mid-July, the company says, and it won't be the...

By Dan Beyers | June 28, 2007; 8:01 AM ET | Comments (0)

The Morning Brief 06.28.07

Here's a roundup of the local business stories that appear in today's newspaper> *AOL's news sites adopt the look of blogs. *The number of government no-bid contracts soar, prompting calls for more oversight. *As contracting force shrinks, a Booz Allen contract grows. *Are you camping out yet for the iPhone?...

By Dan Beyers | June 28, 2007; 7:43 AM ET | Comments (0)

ComScore Nets $73.7 Million In IPO

Reston's comScore raised $73.7 million after fees and expenses in its initial public offering. The company sold shares for $16.50 and the stock climbed $6.97 during the day on the Nasdaq market, closing at $23.47. The company's new ticker is SCOR. The company, incorporated in 1999, collects data on the...

By Dan Beyers | June 27, 2007; 5:35 PM ET | Comments (0)

Capital One To Cut 2,000 Jobs

From the Associated Press: Capital One Corp. said Wednesday it expects to eliminate about 2,000 jobs, or almost 7 percent of employees, throughout the company as part of a cost-cutting program designed to save $700 million by 2009. The McLean, Va.-based credit card and banking company expects to incur $300...

By Dan Beyers | June 27, 2007; 5:10 PM ET | Comments (0)

NCI Acquires Texas-Based Contractor

NCI, a Reston-based provider of information technology services to federal agencies and the military, announced today that it had acquired Karta Technologies, a privately held company that provides systems integration services to government and commercial customers. The purchase price was not disclosed, but NCI said in a statement the transaction...

By Mike Shepard | June 27, 2007; 4:44 PM ET | Comments (0)

Dulles Firm Snags Airbus Work

ODIN Technologies has inked a five-year deal to help European aircraft maker Airbus deploy radio frequency identification equipment to track spare parts across its supply chain. ODIN does not manufacture RFID readers or tags but provides testing, design, installation, software and consulting services for such systems. Terms of the deal...

By Dan Beyers | June 27, 2007; 3:10 PM ET | Comments (0)

New Chief of Strategic Planning at Sprint Nextel

Sprint Nextel today named former BellSouth executive Keith Cowan as its president of strategic planning and corporate initiatives. Cowan will report directly to Sprint chief executive Gary Forsee and oversee efforts that include a joint cable venture and 4G Mobile Broadband, the company said in a statement. Sprint also announced...

By Mike Shepard | June 27, 2007; 12:00 PM ET | Comments (0)

CACI Announces More Exec Changes

The Arlington government technology contractor is shuffling the front office some more. It named chief operating officer for U.S. operations William M. Fairl as president of U.S. Operations. He will be replaced as chief operating officer by Randall C. Fuerst, head of CACI's enterprise technologies and services business group. Jack...

By Dan Beyers | June 27, 2007; 8:04 AM ET | Comments (0)

Investors Spurn US Foodservice Bond Offering

The WSJ reports that investors turned their backs on a leveraged-buyout debt offering for Columbia's U.S. Foodservice yesterday, "leaving banks holding the bag for more than $3 billion and raising concerns about the changing economics of the takeover boom." "Underwriters pulled a $1.55 billion bond offering by U.S. Foodservice, the...

By Dan Beyers | June 27, 2007; 7:39 AM ET | Comments (0)

The Morning Brief 06.27.07

Here's what was in the morning paper. *Sprint to drop the Nextel name from its branding. *Reston's ComScore prices IPO at $16.50 a share *Senators question bonus for Fannie Mae's chief....

By Dan Beyers | June 27, 2007; 7:33 AM ET | Comments (0)

Tom McMillen Pitches Another IPO

Former Washington basketball star, and congressman, Tom McMillen and his partner Harvey Weiss are planning an IPO for a second blank-check company called Fortress America Acquisition Corp. II. They filed a registration statement with the Securities and Exchange Commission to offer shares at $8 a pop, raising up to $92...

By Dan Beyers | June 26, 2007; 4:30 PM ET | Comments (0)

Burns To Head FBR International

The newly public FBR Capital Markets named Timothy H. Burns to be president and chief executive of FBR International, the company's international investment banking, institutional trading and research subsidiary. In a press release, the company said it also tapped Patrick M. Steel to be senior managing director and head up...

By Dan Beyers | June 26, 2007; 3:50 PM ET | Comments (0)

BioVeris Finalizes Deal

From the Associated Press: GAITHERSBURG, Md. (AP) -- Chemical testing instrument maker BioVeris Corp. said Tuesday that its $600 million acquisition by Roche Holdings Ltd. has been completed. Shareholders voted to approve the deal at a special meeting on Monday. BioVeris agreed to the $21.50-per-share cash buyout by the Swiss...

By Dan Beyers | June 26, 2007; 3:42 PM ET | Comments (0)

Justice Investigates BAE

From Reuters, about a defense contractor with a big local presence here: LONDON (Reuters) - The U.S. Department of Justice has launched an investigation of Britain's BAE Systems Plc over the defense company's compliance with anti-corruption laws, including its dealings with Saudi Arabia. Shares in BAE, Europe's biggest military contractor,...

By Dan Beyers | June 26, 2007; 8:29 AM ET | Comments (0)

AOL Revamps News Site

AOL today rolled out its new overhaul of AOL News, http://news.aol.com. The site now relies on a blog format to mix traditional news with video, polls and other online programming. We checked it out early this morning and what do you think we found right at the top? Paris Hilton,...

By Dan Beyers | June 26, 2007; 8:15 AM ET | Comments (0)

Case Tries Online Competition For Grants

The Case Foundation, the philanthropic enterprise created by former AOL chief Steve Case and his wife Jean, is going online for help in choosing who deserves grants of up to $35,000 for community outreach projects. Here's how the competition will work: "Through the Make It Your Own Awards, the Case...

By Dan Beyers | June 26, 2007; 8:00 AM ET | Comments (0)

The Morning Brief 06.26.07

We're trying something here. Here's the local news that appeared in this morning's paper. If you like this summary, let us know and we'll keep doing it. *Radio One reported yesterday that profits for the first quarter were down sharply. *Metro has a story about low-income DC families getting fewer...

By Dan Beyers | June 26, 2007; 7:40 AM ET | Comments (0)

Rick Harris To Head Md. Tech Alliance

The Tech Council of Maryland/MdBio named Rick Harris as executive director of the Tech Alliance, one part of the recently merged TCM/MdBio. Harris will be responsible for the daily management, membership recruitment, event promotion and fundraising activities for the Tech Alliance, which serves the advanced technology community. The council is...

By Dan Beyers | June 25, 2007; 1:27 PM ET | Comments (0)

Martek and Breyer's Smart Yogurt

Martek Biosciences of Columbia said in a release that its DHA omega-3 nutritional supplement will find its way into Breyer's newest line of "Smart! Yogurt" beginning in July. Martek derives its supplement from microalgae. The company previously inked deals for infant formula, sushi and veggie burgers, and is working cereal...

By Dan Beyers | June 25, 2007; 12:47 PM ET | Comments (0)

Slate Launches Video Offering

WaPo Co.'s Slate online magazine is rolling out something it calls "Slate V," a new video offering that will feature original video, top picks from around the Web and selected user-generated video. (www.SlateV.com). To help run the site, Slate hired Bill Smee as executive producer. Smee most recently oversaw content...

By Dan Beyers | June 25, 2007; 7:21 AM ET | Comments (0)

 
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