Early Briefing

Here's some of the local business stories in Friday's paper:

*A hundred of Giant Food's 185 stores in the District, Maryland, Virginia and Delaware are slated for renovation over the next three years, the largest investment in the chain since it was acquired by the Dutch company Royal Ahold nearly a decade ago. See story

*XM Satellite Radio Holdings said its loss widened 70 percent in the third quarter as it kept pushing for approval of its deal with Sirius. It added customers, mainly through deals with automakers, but sales in retail stores. See story.

*Friedman Billings Ramsey Group, the Washington area's largest investment bank, said its losses tripled in the third quarter after declines in the mortgage market and the sale of a subprime mortgage lender.See story.

*Gov. Martin O'Malley and Democratic legislative leaders proposed providing health insurance to 100,000 poor uninsured adults in Maryland and subsidizing small businesses that offer coverage to their employees. See story

*Small-business owners went to learn about how to secure contracts with Gaylord National in Prince George's, the largest hotel and convention center on the eastern seaboard. See story.

*ZeniMax Media, a Rockville video game company, said it received a $300 million investment from private-equity firm Providence Equity Partners of Providence, R.I. ZeniMax said it will use the money to fund acquisitions and to develop and publish games. Michael Dominguez, a Providence managing partner, will join ZeniMax's board. See press release.

*A federal court dismissed one of two cases brought by the Securities and Exchange Commission against John Mangan, a former broker at Friedman, Billings, Ramsey Group accused of insider trading. The SEC alleges that Mangan made about $179,000 from short-selling CompuDyne stock after learning that FBR was planning a private investment in public equity, or PIPE, offering for the company, and from selling unregistered CompuDyne shares after the PIPE was announced.

By Terri Rupar  |  October 26, 2007; 5:00 AM ET  | Category:  Morning Brief
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