Archive: August 5, 2007 - August 11, 2007

Feds Say No To Lifting Fannie, Freddie Investment Caps

Earlier we passed on an Associated Press report on pleas by Fannie Mae and Freddie Mac to lift an investment cap limiting the size of their portfolios. After the markets closed, federal regulators said nothing doing. Here's the AP report: By Marcy Gordon Associated Press The government on Friday said...

By Dan Beyers | August 10, 2007; 6:32 PM ET | Comments (0)

Thomas Heath On The Radio

Tom talks about the credit crunch and market jitters. Listen here....

By Dan Beyers | August 10, 2007; 3:23 PM ET | Comments (0)

Gannett CEO To Employees: Relax

Those darned bloggers and all the trouble they cause! McLean's Gannett Co., the nation's biggest newspaper chain, caused a stir in the blogosphere when it dropped this little gem into an Securities and Exchange Commission filing on Wednesday, in a section about overhauling employee compensation plans: "The plans and agreements...

By Dan Beyers | August 10, 2007; 3:14 PM ET | Comments (0)

Fannie, Freddie Press Requests To Ease Investment Caps

From the Associated Press: By Marcy Gordon Associated Press Shares of Fannie Mae and Freddie Mac climbed anew Friday, signaling the market's belief that federal regulators will ease investment limits on the two home-loan finance giants as a way to pump cash into the struggling mortgage market. The Office of...

By Dan Beyers | August 10, 2007; 3:08 PM ET | Comments (0)

Sunrise Offers A Glimpse Of Its Quarterly Results

Sunrise Senior Living, which put itself up for sale last month, said revenues under management during the second quarter rose 8.2 percent to $581.9 million. The McLean-based assisted living provider said the rise in revenue under management, or revenue from properties the firm owns or manages, was due to the...

By Dan Beyers | August 10, 2007; 12:07 PM ET | Comments (0)

Lockheed Names New Finance Chief

From the Associated Press: Lockheed Martin, which makes the F-22 fighter jet and other defense systems, said today Bruce L. Tanner will succeed Christopher E. Kubasik as chief financial officer and executive vice president. Tanner, 48, was named vice president of finance and business operations for the company's $12.2 billion...

By Mike Shepard | August 10, 2007; 11:55 AM ET | Comments (0)

How Will Credit Crunch Hit Home?

That's our question for the day. In a story today, Thomas Heath quotes several of the heavyweights in local finance on the global credit crunch roiling markets around the world, turmoil that may affect everything from stock prices and mortgage rates to many of the largest merger deals now in...

By Dan Beyers | August 10, 2007; 6:35 AM ET | Comments (0)

Early Briefing 08.10.07

Local firms felt jitters from the trouble in the credit markets, but Frederic V. Malek, founder of Thayer Capital, said Washington is more insulated than other financial centers. See story David M. Mott, chief executive of Gaithersburg-based MedImmune, discussed the reasons behind selling the biotechnology company. See story Applera, the...

By Terri Rupar | August 10, 2007; 5:00 AM ET | Comments (0)

Spherix Names Future CEO

Spherix, the Beltsville information technology company that is transforming itself into a biotech concern, said it has found its future chief executive. Claire L. Kruger will take over the reins of the company once shareholders approve a deal to sell off a division that makes reservations for national parks. Board...

By Dan Beyers | August 9, 2007; 3:14 PM ET | Comments (0)

EnviroCAB Hopes To Start Operations In Arlington

Sharon McLoone over at our Small Business Blog writes about EnviroCAB, a taxi service that claims it would be the first in the nation to go "carbon negative" by reducing the amount of carbon dioxide its fleet emits over the course of a year. The firm plans to work with...

By Dan Beyers | August 9, 2007; 2:43 PM ET | Comments (0)

Early Briefing 08.09.07

In a conversation on economic issues, President Bush dismissed proposals to loosen restrictions on District-based Fannie Mae and McLean-based Freddie Mac. See story The Coast Guard increased the estimate for the cost of two ships that are part of the Deepwater program by $255 million. Lockheed Martin of Bethesda and...

By Terri Rupar | August 9, 2007; 5:00 AM ET | Comments (0)

TVI Corp. Names Hughes as Permanent CEO

TVI, a maker of equipment for disaster response and special events, announced today the appointment of Harley A. Hughes as its permanent chief executive. (See the company statement.) Hughes, a retired Air Force lieutenant general, has served on TVI's board since 2003 and was named interim chief exective in April,...

By Mike Shepard | August 8, 2007; 4:13 PM ET | Comments (0)

Sprint's Profits Shrink In Second Quarter

Sprint Nextel reported profits of $19 million (1 cent per share) in the second quarter, down from $370 million (12 cents) in the same period in 2006. "The yearly decline in earnings per share is due to a lower contribution from operations, start-up costs associated with the WiMAX initiative and...

By Dan Beyers | August 8, 2007; 7:12 AM ET | Comments (0)

Early Briefing 08.08.07

The troubles in the mortgage market may present opportunities for District-based Fannie Mae and McLean-based Freddie Mac, which are calling on regulators to loosen restrictions on them. And Steven Pearlstein thinks regulators should heed those calls. See column Capital One of McLean said it will buy NetSpend Holdings, a retail...

By Terri Rupar | August 8, 2007; 5:00 AM ET | Comments (0)

Markets Report on Washington Post Radio

Washington Business editor Mike Shepard discusses today's market swings and the Fed's decision to keep interest rates steady. Listen...

By Terri Rupar | August 7, 2007; 6:06 PM ET | Comments (0)

FedEx Kinko's Adding 5 Locations to D.C. Area

FedEx Kinko's plans to open five new office and printing centers in the Washington region by December, part of an escalated growth strategy to build 300 new locations across the country and 20 internationally. The five centers will be located in the District, Silver Spring and Sterling. Two will be...

By Mike Shepard | August 7, 2007; 5:31 PM ET | Comments (0)

Norfolk Southern Reaches Labor Deal

Norfolk Southern said today it has reached a tentative new labor agreement with its 5,100 locomotive engineers that would extend through 2014. The new contract, which awaits ratification by the employees, would maintain the existing contract's link between engineers' compensation and the Norfolk-based railroad's performance. The engineers, who are represented...

By Mike Shepard | August 7, 2007; 10:21 AM ET | Comments (0)

CompuDyne Accepts Buyout Offer

CompuDyne, an Annapolis provider of security products and services, said today it has agreed to be acquired by a group of private equity investors for about $59 million. The buyers include affiliates of the Gores Group, a California-based private equity firm, and Stuart Mackiernan, an industry executive who will take...

By Mike Shepard | August 7, 2007; 10:10 AM ET | Comments (0)

Morning Brief 08.07.07

Shares of Fannie Mae and Freddie Mac jumped yesterday as the stock market recorded its biggest one-day gain in more than four years. Investors were betting that regulators may soon ease investment restrictions on the government-chartered mortgage companies. See story Venture capital investment in Washington-area companies slowed during the second...

By Mike Shepard | August 7, 2007; 10:01 AM ET | Comments (0)

 
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