Archive: November 4, 2007 - November 10, 2007

Real Estate: Some Crazy Stories

Real estate veterans share their on-the-job stories, ranging from horrifying to entertaining. See story The author of "Alexander and the Terrible, Horrible, No Good, Very Bad Day" lives in Cleveland Park. Recently, Alexander, now 40, and his wife and children, moved in with her for a few months during a...

By Terri Rupar | November 10, 2007; 3:51 PM ET | Comments (0)

Early Briefing

*Fannie Mae of the District said that deterioration in the housing market led to a sixfold increase in its expenses for loan delinquencies and foreclosures during the third quarter. And it just expects it to get worse. But there were two bright spots for Fannie: Its share of mortage-backed securities...

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

Sprint And Clearwire Call It Quits

Sprint Nextel and Clearwire said yesterday they were calling off their joint plan to build a national high-speed wireless network using WiMax technology, dealing another blow to Sprint as it struggles to regain its footing. Sprint has pitched WiMax as core to its strategy, promoting it as a way to...

By Dan Beyers | November 9, 2007; 8:05 AM ET | Comments (0)

Early Briefing: Moving A Waffle Shop

Here's some of the local business news that appeared in Friday's paper: The 57-year-old Waffle Shop, with its serpentine counters and chrome accents, opened on 10th Street NW. (Library of Congress photo) * Douglas Jemal is going to build something on the site where the Waffle Shop now stands, across...

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

Cap One Falls to New Low

Capital One's stock fell to a 4 1/2 year low on Wednesday, down 9.23 or nearly 16 percent, this a day after the company boosted its forecast for bad loans in 2008. Shares closed at $50.21. Here's the Reuters story from Tuesday: NEW YORK, Nov 6 (Reuters) - Capital...

By Dan Beyers | November 8, 2007; 8:15 AM ET | Comments (0)

Early Briefing: ICx Goes Public

Here's some of the local business stories in Thursday's paper: *ICx Technologies of Arlington priced its intial public offering of 5 million shares at $16 a share. Shares are expected to start trading today on the Nasdaq under the symbol "ICXT." The developer of technology solutions for homeland security and...

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

D.C. Private Equity Firm Sells Brazilian Retailer

Washington buyout firm Acon Investments said today it is selling its Brazilian grocery chain GBarbosa to Cencosud, a Chilean supermarket operator, for an undisclosed sum. According to a statement posted on GBarbosa's Web site, Cencosud will pay $380 million and assume about $50 million in debt. The sale price...

By Mike Shepard | November 7, 2007; 6:40 PM ET | Comments (0)

Cuomo Hits Fannie Mae, Freddie Mac With Subpoeanas

The New York attorney general subpoenaed mortgage finance giants Fannie Mae and Freddie Mac as he sought to expand his housing industry investigation by focusing on companies that package house loans and sell them to investors. It was the second public step in Andrew M. Cuomo's probe of fraudulent house...

By Mike Shepard | November 7, 2007; 2:45 PM ET | Comments (0)

Early Briefing: Trex Shares Fall

Here's some of the local business stories in Wednesday's paper: *Shares of Trex, a Winchester company that makes decking and railing products from recycled materials, fell nearly 10 percent after the company raised its estimates of how much it would cost to deal with quality-control problems at one of its...

By Terri Rupar | November 7, 2007; 5:00 AM ET | Comments (0)

Former Freddie Mac CEO Settles Civil Case

From the Associated Press The government today reached a $16.4 million settlement with Freddie Mac's former chief executive for his role in the mortgage finance company's multibillion-dollar accounting scandal. Leland Brendsel, who was ousted in 2003, agreed to pay $2.5 milion in fines to the government, give back $10.5 million...

By Mike Shepard | November 6, 2007; 4:38 PM ET | Comments (0)

Early Briefing: Fannie To Get Back On Track

Here's some of the local business stories in Tuesday's paper: * Fannie Mae is preparing to issue its first quarterly financial reports since an accounting scandal three years ago revealed deep flaws in the systems the company uses to track its earnings. The move could give the company and its...

By Dan Beyers | November 6, 2007; 7:07 AM ET | Comments (0)

Early Briefing: The Web's New Field Of Dreams

Monday is the day we turn our Business section over to local news. Here's some of the stories in today's paper: * The wave of social networking and interactive content companies that has washed over Silicon Valley, promising to upend Internet business models, has reached the Washington area. About a...

By Dan Beyers | November 5, 2007; 9:12 AM ET | Comments (1)

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