Archive: July 8, 2007 - July 14, 2007

New JBG Partnership in Final Negotiations

The JBG Companies, one of Washington's old-line real estate development companies, is finishing a multi-billion dollar deal to sell about 60 percent of the projects it has underway to a new company called JBG Urban, sources close to the transaction are telling me. The new company is a JBG partnership...

By Mike Shepard | July 14, 2007; 3:10 PM ET | Comments (0)

Morning Brief 07.14.07

It's easier than ever for house hunters to find detailed information about a neighborhood, including schools, crime and traffic, and much of the research can be done online. See story. Finding a bargain among the growing pool of foreclosures can take a lot of legwork, and may not yield the...

By Mike Shepard | July 14, 2007; 9:30 AM ET | Comments (0)

Thomas Heath on the Markets

Stocks finished the week on a strong note, as the Dow Jones industrial average closed above the 13,900 mark for the first time today and the Standard & Poor's 500 index reached a new record. Thomas Heath told WTWP's Jim Bohannon what was behind the week's numbers. Listen here....

By Mike Shepard | July 13, 2007; 6:10 PM ET | Comments (0)

Forest City Picks Broker for Stadium-Area Leasing

More real estate news around the new stadium: Forest City Washington, Inc., part of Cleveland-based Forest City Enterprises, selected CB Richard Ellis as the exclusive office brokerage firm to handle the leasing of the first office building that Forest City is developing in Southeast as a part of its sprawling,...

By Mike Shepard | July 13, 2007; 5:33 PM ET | Comments (0)

Highland Hospitality Shareholders Approve Takeover

Shareholders of Highland Hospitality, a real estate investment trust that specializes in lodging properties, today approved the company's purchase by JER Partners, the McLean-based private equity investment unit of J.E. Robert Companies. See Highland's news release. The all-cash deal is valued at $2 billion, which includes the assumption of $260...

By Mike Shepard | July 13, 2007; 12:32 PM ET | Comments (0)

Morning Brief 07.13.07

Yesterday saw the stock market reach new heights. What will today's trading bring? * Marriott International reprorted an 11 percent increase in first-quarter profit, but its shares fell by 3 percent as the Bethesda hotel operator reduced its forecast for a key measure of revenue. See story * Federal prosecutors...

By Mike Shepard | July 13, 2007; 10:10 AM ET | Comments (0)

The Gandhi Protest

Several readers commented on a posting earlier this week about 200 skilled immigrants from India who tried a Gandhi-like tactic and sent flowers to the government's immigration director for help in moving their green card applications along. The U.S. Citizenship and Immigration Services forwarded the flowers to soldiers recovering at...

By Dan Beyers | July 13, 2007; 6:00 AM ET | Comments (32)

Champion of Financial Savvy Makes Stop in D.C.

John Hope Bryant, a champion of financial literacy, has often been successful in getting Washington luminaries to join him on his annual visits to District neighborhoods east of the Anacostia Rover. Last year, he was accompanied by Federal Reserve Chairman Ben S. Bernanke and by then-World Bank President Paul D....

By Mike Shepard | July 12, 2007; 7:49 PM ET | Comments (0)

Thomas Heath on the Radio

Stocks soared today, sending The Dow Jones industrial average and Standard & Poor's 500 index to new record closes. Staff writer Thomas Heath tells the story behind the numbers to WTWP radio host Jim Bohannon. Listen here....

By Mike Shepard | July 12, 2007; 6:06 PM ET | Comments (0)

Impressions of American Capital Strategies

Staff writer Thomas Heath paid a visit to the offices of American Capital Strategies today, to find out a little more about the Bethesda-based private equity firm. Malon Wilkus is the founder and chairman of American Capital Strategies and works in a 14th floor office high above the Bethesda Metro....

By Mike Shepard | July 12, 2007; 3:59 PM ET | Comments (0)

Sunrise Senior Living's Outlines Acting CFO's Pay

What does Sunrise Senior Living's acting finance chief receive for the work she faces in cleaning up years of accounting problems at the assisted living provider? Julie A. Pangelinan, who was promoted to acting chief financial officer after the ouster of Bradley B. Rush, will receive a $330,000 base salary,...

By Mike Shepard | July 12, 2007; 3:17 PM ET | Comments (2)

Digene Founder Headed for the Windy City

Here's a name from the past: Floyd Taub. He founded Digene, a Gaithersburg biotech company that was recently bought by Qiagen for about $1.6 billion. Taub hadn't been involved in Digene for some time, but just now I got word out of Chicago -- my hometown -- that Taub has...

By Mike Shepard | July 12, 2007; 12:58 PM ET | Comments (4)

Poultry Producer Adding 750 Jobs

Allen Family Foods, one of Maryland's largest poultry producers, plans to hire 750 additional workers over the next two years and upgrade two of its plants on the Eastern Shore, according to a report in the Baltimore Sun. The state will provide a $1.7 million grant to help Allen expand...

By Mike Shepard | July 12, 2007; 10:34 AM ET | Comments (0)

Marriott's Second-Quarter Earnings Up 11 Percent

Marriott International is reporting today an 11 percent increase in second-quarter profit driven by strong demand for rooms and rising revene from fees charged to franchisee hotels. The Bethesda hospitality company, which operates nearly 2,900 hotels worldwide, said in a statement that it earned $207 million for the period ended...

By Mike Shepard | July 12, 2007; 10:24 AM ET | Comments (0)

The Morning Brief 07.12.07

Here are some of the local business stories in today's paper: * A ceremony was held yesterday to mark the placement of the last of 3,500 steel beams at the Washington Nationals' new stadium. But an afternoon thunderstorm delayed by a day the place of the final beam, which was...

By Mike Shepard | July 12, 2007; 9:59 AM ET | Comments (0)

Thomas Heath On The Radio

Tom reminds WTWP radio host Jim Bohannon that stock market investors like to buy on the dip. Listen here....

By Dan Beyers | July 11, 2007; 4:32 PM ET | Comments (0)

Is Sallie Deal In Jeopardy?

From the Associated Press: NEW YORK -- A planned $25 billion buyout of the nation's largest student loan lender, Sallie Mae, could fail because of legislation pending in Congress, the potential buyers have said. SLM Corp., more commonly know as Sallie Mae, said in a statement Wednesday that it disagreed...

By Dan Beyers | July 11, 2007; 3:28 PM ET | Comments (1)

Morning Commuter Blues

Assistant editor Kathy Lally passed on this sad tale this morning: "New Yorkers heading to meetings in Washington and downtrodden commuters from Baltimore and points in between were joined in transit trauma this morning. "The 8:10 commuter train from Baltimore made it just past BWI airport before failing. Amtrak picked...

By Dan Beyers | July 11, 2007; 11:25 AM ET | Comments (0)

Green Card Applicants Do Like Gandhi

Staff writer Xiyun Yang writes how about 200 skilled immigrants from India sent flowers to the government's immigration director yesterday for help in moving their green card applications along. About 200 skilled immigrants sent flowers to the U.S. Citizenship and Immigration Services. (By Xiyun Yang -- The Washington Post) "Shyam...

By Dan Beyers | July 11, 2007; 6:48 AM ET | Comments (20)

Capital One Chief's Stock Sales Net $31 Million

The WSJ reports (subscription required) that Capital One CEO Richard Fairbank sold "about 505,000 shares from May through Friday as the company weathered poor first-quarter results, pressure from the subprime-mortgage meltdown and job cuts." A spokeswoman said the sales were part of a stock-trading plan he entered into in February...

By Dan Beyers | July 11, 2007; 6:33 AM ET | Comments (0)

The Morning Brief 07.11.07

Thought of the day: Don't get caught outside when the sky starts rumbling. Or maybe: It never hurts to have another shirt handy in the office closet. Here's some of the local business stories in today's paper. * AOL investors should soon receive the proceeds of the Dulles company's multi-billion...

By Dan Beyers | July 11, 2007; 6:09 AM ET | Comments (0)

AOL Introduces myAOL

AOL is testing a new site it is calling myAOL that allows users to organize and personalize their online content and includes an interesting new search service. The new myAOL is really three different tabbed pages. The first, myPage, is a personalized portal of sorts where a user can arrange...

By Dan Beyers | July 10, 2007; 5:10 PM ET | Comments (2)

Thomas Heath On The Radio

Tom is no Mr. Pollyanna when he talks about the markets and oil prices today with WTWP host Jim Bohannon. Listen here....

By Dan Beyers | July 10, 2007; 4:50 PM ET | Comments (0)

Government Inc. Joins The Blog Parade

Washington Post staff writer Robert O'Harrow is rolling out a new blog that offers an inside look at the world of government contracting. He's calling it Government Inc. This is how he introduced his subject today: Dear Reader, In launching this new relationship with you, Government Inc. would like to...

By Dan Beyers | July 10, 2007; 1:28 PM ET | Comments (2)

Washingtonpost.com's New Small Biz Blog

Washingtonpost.com is launching a new small business blog today, called, what else? Small Business on washingtonpost.com. Sharon McLoone explains that her blog will offer an inside look at small businesses and their challenges and opportunities. She'll talk to experts who can help small businesses (from start-ups to well-established) navigate today's...

By Dan Beyers | July 10, 2007; 11:06 AM ET | Comments (0)

The Art of Shaving Comes to Pentagon City

Prepping for your cameo on C-SPAN? New York-based specialty store The Art of Shaving is slated to open its first store in the region at The Fashion Centre at Pentagon City in August featuring products such as the ivory- and nickel-plated five-blade Gilette razor and an ingrown hair removal kit...

By Dan Beyers | July 10, 2007; 7:15 AM ET | Comments (0)

Under Armour To Court Women

Under Armour, the Baltimore sports apparel company, is changing up its marketing to better target female athletes, according to this story in the Baltimore Sun. Now, in addition to grunting men, the ads will feature sweating women---and what the company is calling "BoomBoom-Tap." " 'They flat out asked, "Where's our...

By Dan Beyers | July 10, 2007; 6:03 AM ET | Comments (3)

Baltimore Education Firm Prepares For IPO

Camden Learning Corp. is hoping to raise $36 million in an initial public offering so it can go out and invest in education businesses. The Baltimore Sun reports that the so-called blank check company is "backed by the Baltimore private equity firm Camden Partners, has two executive officers, no full-time...

By Dan Beyers | July 10, 2007; 6:00 AM ET | Comments (0)

The Morning Brief 07.10.07

Here's some of the local business stories in today's paper: * Capital One shakes up its banking division; former chief executive of North Fork Bancorp departs McLean company. * Corporate Advisory Board of Washington invests in a provider of online salary data. * Laureate Education investors approve plan to take...

By Dan Beyers | July 10, 2007; 5:36 AM ET | Comments (0)

Thomas Heath On The Radio

Tom talks about the Dow and Dow Jones with WTWP radio host Jim Bohannon. Listen here....

By Dan Beyers | July 9, 2007; 6:11 PM ET | Comments (0)

Coventry Health Care to Buy Florida Health Plan

Coventry Health Care, a Bethesda-based managed-care provider, has agreed to acquire privately held Florida Health Plan Administrators for about $685 million in cash, according to a Coventry statement. Florida Health owns the Vista Healthplans network, which has 295,000 enrolled members. Vista generates about $1.2 billion in annual revenue, and 85...

By Mike Shepard | July 9, 2007; 11:21 AM ET | Comments (0)

Carlyle Buys Manufacturing Conglomerate

The deals keep a-coming: Carlyle Group is buying Sequa Corp., a diversified manufacturer, in a transaction valued at $2.7 billion. Sequa has operations organized around units serving aerospace, automotive, metal coating, specialty chemical, industrial machinery, and other products Under the terms of the deal, Carlyle will acquire all of the...

By Dan Beyers | July 9, 2007; 8:00 AM ET | Comments (0)

Amerigroup's CEO Steps Aside

Amerigroup, a Virginia Beach managed care company, says its founder, Jeffrey L. McWaters, 50, is retiring as chief executive. McWaters will continue to serve as chairman. The Board said James G. Carlson, the company's president and chief operating officer, will take over as president and CEO in September. McWaters founded...

By Dan Beyers | July 9, 2007; 6:39 AM ET | Comments (0)

Gate Gourmet Buys deSter

Reston's Gate Gourmet, the airline catering giant, is buying deStar Holding BV of Amsterdam, a large supplier of cutlery, chinaware and airline amenity kits. In a deal announced early Monday, the company said private equity fund group EQT has owned deSter since 1999. DeSter has operations on three continents and...

By Dan Beyers | July 9, 2007; 6:11 AM ET | Comments (0)

The Morning Brief 07.09.07

It's WashBiz Monday. Here's some of the local business stories in today's paper: * Former FCC chairman Reed Hundt pitches a new telecommunications company that would allow build a national network open to all mobile phones and other devices. Former FCC Chairman Reed Hundt (By Susan Goldman -- Bloomberg News)...

By Dan Beyers | July 9, 2007; 5:44 AM ET | Comments (0)

The Morning Brief 07.08.07

Here's some of the local business stories in today's paper: * It's time for the quarterly investment review in the Sunday Business section. Included in the coverage is the thoughts of Robert Smith, portfolio manager of T. Rowe Price Growth Stock Fund, who sees opportunities in large cap stocks and...

By Dan Beyers | July 8, 2007; 5:47 AM ET | Comments (0)

 
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