Early Briefing 10.23.07
Here's some of the local business stories that appeared in today's paper:
* The private equity firm Carlyle is partnering with distance-learning giant Apollo, known best for its for-profit University of Phoenix, to create a $1 billion venture to invest in international education services companies. See story.
* Billionaire investor Warren Buffett expressed concern about Freddie Mac's goals for earnings growth back in 2000 when he decided to sell his shares in the mortgage funding giant. "All my history is that all institutions that have a primary goal of earnings growth get into trouble," Buffett said, according to notes that former Freddie CEO Leland Brendsel made of the conversation.
Brendsel read from the notes at his administrative trial, where the government accuses him of running the company recklessly, leading it to eventually fudge its accounting. See story.
* BearingPoint of McLean reports a loss as it finally catches up on its financial filings. See story.
October 23, 2007; 6:48 AM ET
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