Early Briefing 08.03.07
The new venture from Steve Case, founder of Dulles-based AOL, is building an environmentally friendly resort in Costa Rica. Revolution Places is a unit of Revolution LLC of the District. See story
The Sparrows Point steel plant east of Baltimore will be bought by a venture of Esmark, an Illinois-based metal distributor. Arcelor Mittal had to sell it as part of an agreement with the Justice Department.
Genworth Financial of Richmond announced revisions to its reported second-quarter earnings and earnings per share. Profit in the quarter ended June 30 was $379 million (84 cents a share) instead of $387 million (86 cents), as the company announced July 26. Profit in the six months ended June 30 was $703 million ($1.56 a share), compared with the $711 million ($1.57) originally reported.
Edward J. Miller Jr. is stepping down as president and chief executive of W.C. & A.N. Miller Cos., the District real estate services company announced. He will be replaced as president by Vincent Pasko, the company's chief financial officer, after a six-month transition period, and plans to stay on the company's board.
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