Archive: July 15, 2007 - July 21, 2007

Lunch With the Head of the NVTC

It's only noon and Bobbie Greene Kilberg, president of the Northern Virginia Technology Council, has already had a full day. She was up until 2 a.m. the night before, preparing for a remodel of her McLean home. Then, on just a few hours sleep, she was rushing to moderate...

By Mike Shepard | July 20, 2007; 4:12 PM ET | Comments (0)

A Few Minutes with the Founder of Fresh Fields

I caught up with Mark Ordan on the telephone Friday. We talked on the phone instead of lunching. Mark is one of the primary movers and the founders behind the Fresh Fields grocery store chain, which he sold to Whole Foods in 1996 for $150 million and remains one...

By Mike Shepard | July 20, 2007; 3:07 PM ET | Comments (1)

Creative Class Guru Leaving GMU

Richard Florida, an economist known for his pioneering research into the "creative class", is leaving George Mason University to join the faculty of the Rotman School of Management at the University of Toronto. Florida, who spent three years at GMU and was featured in recent advertisements touting the university, will...

By Mike Shepard | July 20, 2007; 12:10 PM ET | Comments (0)

Morning Brief 07.20.07

Small business in the District are struggling to keep up with a sharp rise in property taxes, and some business owners are wondering whether they can afford to keep their doors open. See story Columnist Steven Pearlstein looks at the region's challenge in finding enough affordable housing to accomodate an...

By Mike Shepard | July 20, 2007; 10:25 AM ET | Comments (0)

Thomas Heath on Washington Post Radio

The Dow Jones industrial average closed today above the 14,000 mark for the first time, but did so by just a fraction. Staff writer Thomas Heath discusses the day on Wall Street with Washington Post Radio's Victoria Jones and talks about inflation and exchange rates, too. Listen here....

By Mike Shepard | July 19, 2007; 5:27 PM ET | Comments (0)

Danaher Profit Tops Analysts' Expectations

Washington-based Danaher Corporation, which makes everything from hand tools to fire suppression systems, posted a second-quarter profit of $311 million, or $0.96 per diluted share. That's down from the $314 million (or $0.98 a share) the company earned in the same quarter last year, but a bit better than what...

By Mike Shepard | July 19, 2007; 2:49 PM ET | Comments (0)

Morning Brief 07.19.07

Efforts by a Prince George's businessman to buy Greater Southeast Community Hospital have collapsed, and the struggling District facility's parent company is reassessing how it will search for a new owner. See story. Gannett's first quarter profit jumped 18 percent, but most of those gains were fueled by the McLean...

By Mike Shepard | July 19, 2007; 10:11 AM ET | Comments (0)

Early Brief 07.19.07

Bloomberg reports that Lockheed Martin is exploring potential tie-ups with Indian companies as it prepares a bid to sell fighter jets to the government. Customers of SunRocket of Vienna were struggling with their sudden lack of service. See more...

By Terri Rupar | July 19, 2007; 5:00 AM ET | Comments (0)

Zinni Takes Full-Time Position With DynCorp

DynCorp International, one of the largest U.S. contractors in Iraq, said today that retired Marine Gen. Anthony C. Zinni has resigned from its board to take a full-time position with the Falls Church company, which provides security and police training services to the government. He will serve as an as...

By Mike Shepard | July 18, 2007; 1:04 PM ET | Comments (0)

Orbital Sciences Says Profit Up 40 Percent

Orbital Sciences, a builder of satellites and rockets for commercial and government clients, said its second-quarter profit rose 39 percent, to $13.8 million from $9.9 million a year ago, on strong sales in its primary business lines. Revenue rose 39 percent, to $273.3 million from $197 million, the Dulles-based company...

By Mike Shepard | July 18, 2007; 11:55 AM ET | Comments (0)

InPhonic Names New Finance Chief

InPhonic, a District company that sells cellphones and wireless service over the Internet, announced today the hiring of Kenneth D. Schwarz as its new chief financial officer. InPhonic's finance chief Lawrence Winkler resigned in June, two months after the company announced it would restate results for the second and third...

By Mike Shepard | July 18, 2007; 10:23 AM ET | Comments (0)

JER Partners Completes Acquisition of Highland

JER Partners, the private equity division of McLean-based J.E. Robert Companies, said yesterday it has completed its acquisition of Highland Hospitality Corporation, a McLean-based real estate investment trust specializing in business hotel properties. The deal, first announced in April, is valued at roughly $2.1 billion, JER Partners said in a...

By Mike Shepard | July 18, 2007; 10:12 AM ET | Comments (0)

Morning Brief 07.18.07

Sallie Mae has amassed millions of options in its own stock as part of a share buyback program that could yield a substantial windfall for the Reston-based student loan company if a pending deal to take it private is completed. See story. Internet phone provider SunRocket ceased operations on Monday,...

By Mike Shepard | July 18, 2007; 10:08 AM ET | Comments (0)

American Capital Strategies' Latest Investment

American Capital Strategies has made its third investment in four years in Dallas-based TransFirst Holdings, which processes transactions for 155,000 merchants across the United States. The latest round of financing is for $50 million, American Capital said in a statement. Bethesda-based American Capital bills itself as the largest publicly-held, private...

By Mike Shepard | July 17, 2007; 7:21 PM ET | Comments (0)

Thomas Heath on Washington Post Radio

The Dow Jones industrial average rose above 14,000 points in early trading, but the blue-chip index fell below that psychologically important barrier right before the markets closed. Staff writer Thomas Heath tells Washington Post Radio's Victoria Jones about the day's stock market news, and also discusses the latest developments in...

By Mike Shepard | July 17, 2007; 5:11 PM ET | Comments (2)

Fieldstone's Acquisition by N.Y. Firm Is Complete

The acquisition of Columbia-based Fieldstone Investment Corporation by C-BASS, a New York mortgage investment company, is now complete, the companies announced today. Fieldstone, which owns and manages a portfolio of non-conforming residential mortgages, agreed to be acquired by C-BASS in February, at a price of $4 a share. Fieldstone's shares...

By Mike Shepard | July 17, 2007; 11:58 AM ET | Comments (0)

Digene Acquisition Clears Antitrust Waitng Period

From Associated Press: Qiagen's acquisition of Gaithersburg-based Digene, a maker of gene-based medical tests, has cleared an antitrust waiting period, the companies said today in a statement. Netherlands-based Qiagen, a diagnostic products maker, agreed to purchase Digene last month in a cash-and-stock deal worth approximately $1.6 billion. The expiration of...

By Mike Shepard | July 17, 2007; 11:44 AM ET | Comments (0)

Sallie Mae Profit Up 33 Percent

Student loan provider Sallie Mae said today its second quarter profit rose 33 percent, to $966 million from $724 million in the comparable period last year. Interest income rose 34 percent, to $2.1 billion, the Reston-based company, formally known as SLM Corp. said in a statement. The company's core earnings,...

By Mike Shepard | July 17, 2007; 11:09 AM ET | Comments (0)

Sunrocket Reportedly Will Cease Operations

From the Associated Press: Internet phone service provider SunRocket, which had as many as 200,000 customers nationwide, has ceased operations without warning. The move by SunRocket, which offered service via Voice over Internet Protocol, or VoIP, was reported last night on The New York Times' Web site. It was confirmed...

By Mike Shepard | July 17, 2007; 11:03 AM ET | Comments (0)

Morning brief 07.17.07

The Dow Jones industrial average just pushed past 14,000, but will it stay above that threshold by the time the markets close? Ethanol-driven demand for corn could raise pollution levels in the Chesapeake Bay. See story. Foreclosures surge in Montgomery County between April and June. See story. Applebee's restaurants in...

By Mike Shepard | July 17, 2007; 10:05 AM ET | Comments (0)

Sheila Johnson Adds Fla. Golf Resort to Portfolio

Black Entertainment Television co-founder Sheila C. Johnson, who has ownership stakes in three Washington professional sports teams, yesterday added a PGA Tour championship golf course in Florida to her hospitality company's growing portfolio. Johnson's Salamander Hospitality bought the the Innisbrook Resort and Golf Club in Tampa for $35 million from...

By Mike Shepard | July 16, 2007; 6:31 PM ET | Comments (0)

California Tortilla Taking Its Hot Sauce to Reston

California Tortilla, where I always order the crispy beef tacos and quesadillas sprinkled with jalapeno peppers, is on a major expansion kick. The company announced this week that they signed a lease in Reston, where they will open another store this fall. The Mexican fast-food restaurants chain signed a lease...

By Mike Shepard | July 16, 2007; 5:32 PM ET | Comments (0)

Thomas Heath on Washington Post Radio

The Dow Jones industrial average inched closer to the 14,000 mark, while the broader market slipped a few points. Thomas Heath walks Washington Post Radio host Victoria Jones through the market numbers and talks about executive pay, too. Listen here....

By Mike Shepard | July 16, 2007; 5:16 PM ET | Comments (0)

Morning Brief 07.16.07

Find out what the region's highest-paid coporate executives made in 2006 in The Washington Post's annual executive compensation survey. The Post's research was drawn from publicly available data filed with the Securities and Exchange Commission. This year, new compensation disclosure rules are helping shine a light on previously obscure executive...

By Mike Shepard | July 16, 2007; 10:00 AM ET | Comments (0)

 
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