Archive: September 23, 2007 - September 29, 2007

Real Estate

The real estate market in the Washington area is the slowest in years, but that's about all that can be generalized for the region. Selling times and prices and supply vary by Zip code. See story Sellers are learning to sell in a market that has swung toward buyers. See...

By Terri Rupar | September 29, 2007; 3:16 PM ET | Comments (0)

Orbital's New Spacecraft Starts 3 Billion-Mile Trip

A NASA spacecraft designed by Dulles-based Orbital Sciences last week began a 3 billion-mile journey through the solar system toward an eventual rendezvous with two asteroids. See the company's statement. The Dawn spacecraft successfully lifted off on Thursday morning from Cape Canaveral Air Force station in Florida. Early data gathered...

By Mike Shepard | September 29, 2007; 9:29 AM ET | Comments (2)

Early Briefing

The Federal Housing Administration is going to stop programs that allow home sellers to give money to charities - including AmeriDream in Gaithersburg - that assist buyers with their down payments. The programs have been accused of driving up home prices. See story Sunrise Senior Living said yesterday that a...

By Terri Rupar | September 29, 2007; 5:00 AM ET | Comments (0)

Early Briefing

Sidney Harman talked to analysts on a conference call yesterday, almost a week after the buyout deal for his company, District-based Harman, fell apart. Separately, Sallie Mae share gained, indicating that people might think that a new deal is possible. See story Montgomery County's planning board stuck to a proposal...

By Terri Rupar | September 28, 2007; 5:00 AM ET | Comments (0)

Freddie Mac Settles SEC Fraud Charges

From the Associated Press Mortgage finance company Freddie Mac will pay $50 million to settle federal charges that it fraudulently misstated earnings over a four-year period. The Securities and Exchange Commission announced the settlement today. McLean-based Freddie Mac neither admitted nor denied wrongdoing in the accord but did agree to...

By Mike Shepard | September 27, 2007; 2:50 PM ET | Comments (0)

Early Briefing

* Leesburg Executive Airport is living up to its name, attracting lots of executives who like the location and ease of travel. See story * The median price of a new home in Montgomery County has surpassed $1 million. It's $1,133,029, to be exact. Builders began putting up bigger houses...

By Terri Rupar | September 27, 2007; 5:00 AM ET | Comments (0)

Sallie Mae Buyout Thrown Into Doubt

From the Associated Press The planned $25 billion buyout of Reston student lender Sallie Mae was thrown into jeopardy today after the investors said terms of the deal were no longer acceptable. Sallie Mae, officially known as SLM Corp., vowed to pursue legal remedies against the investor group led by...

By Mike Shepard | September 26, 2007; 6:40 PM ET | Comments (0)

Data File: Service Sector Softens

The Federal Reserve Bank of Richmond's latest survey of the region's service and manufacturing industries, released Wednesday, shows that the service sector is taking it on the chin a bit this month, as retail sales decline and service providers report their first drop in revenues since August of 2004. "Consistent...

By Dan Beyers | September 26, 2007; 2:09 PM ET | Comments (0)

Early Briefing

Here's the news in Wednesday's paper: Thomas F. "Mack" McLarty, left, and Robert L. Johnson plan to add 20 dealerships to their automotive retailing partnership over two to five years. (By Linda Davidson -- The Washington Post) * Washington billionaire Robert Johnson is buying a majority stake in a group...

By Dan Beyers | September 26, 2007; 5:46 AM ET | Comments (0)

PRA To Relocate to North Carolina

PRA International, the Reston company specializing in running clinical trials, announced today it is relocating to Raleigh, N.C. The move will cost the Washington region a few dozen jobs, all of which were in corporate and administration work. "After conducting a comprehensive analysis, we have determined that relocating to the...

By Dan Beyers | September 25, 2007; 3:55 PM ET | Comments (0)

Early Briefing

* Radio One could be returning to the District if the city agrees to provide $22 million in public financing for a development atop the Shaw-Howard University Metro station. See story. * Some of the merchants and residents who live around the convention center are unhappy that a proposed headquarters...

By Dan Beyers | September 25, 2007; 7:06 AM ET | Comments (0)

DC Mayor Touts New Convention Hotel

With gold pen in hand, Mayor Adrian M. Fenty signed an agreement earlier today to bring a 1,150-room Marriott headquarters hotel to a two-acre plot of land across the street from the Washington Convention Center. Well, technically, it was a re-signing. The memorandum of understanding to put the long-squabbled-over deal...

By Dan Beyers | September 24, 2007; 5:34 PM ET | Comments (0)

Harman Pares Back First-Quarter Profit Outlook

From the Associated Press Audio equipment maker Harman International Industries said today its first-quarter profit would fall well below analysts' expectations due to higher research and development costs. The company said it expects first quarter earnings per share of 50 cents, before factoring in any costs associated with Harman's deal...

By Mike Shepard | September 24, 2007; 10:49 AM ET | Comments (0)

Early Briefing 09.24.07

Here are some of the stories in today's Washington Business section: * The District says it needs a large hotel adjacent to city's convention center to attract more conferences, and plans to build one recently were put back on track. But people who attended this fall's first major convention say...

By Mike Shepard | September 24, 2007; 2:35 AM ET | Comments (0)

Steve Case Launches Revolution Money

Former AOL chairman Steve Case is at it again, this time using his Revolution LLC investment firm to start a new credit card company he's calling Revolution Money. Revolution Money will allow merchants to use Internet technology to circumvent traditional fees of 1.9 percent that credit card networks charge, sources...

By Dan Beyers | September 23, 2007; 11:43 PM ET | Comments (1)

 
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