Archive: November 25, 2007 - December 1, 2007

Early Briefing: A New Big Giant

*A Giant is set to open on Alabama Avenue in Congress Heights on Friday, the only full-service supermarket in Ward 8 in Southeast and the first since a Safeway closed in 1998. It signals a new willingness to invest in the area east of the Anacostia River. See story *No...

By Terri Rupar | December 1, 2007; 5:00 AM ET | Comments (0)

Latest Leonsis Film Venture Picked for Sundance

Ted Leonsis and his social-minded posse of investors are headed back to the Sundance Film Festival. Less than a year after producing his award-winning documentary "Nanking," the Washington Capitals owner was informed on Thursday that his latest documentary effort about homeless soccer players has been accepted to debut at Sundance....

By Mike Shepard | November 30, 2007; 3:23 PM ET | Comments (0)

Commercial Real Estate Roundup

Work began earlier this week on Towers Crescent, a new 13-story office building in Tysons Corner that investors and developers are hoping will benefit from the eventual opening of a Metrorail station in the business hub. "With the planned extension of Metrorail, Tysons Corner will continue its evolution towards a...

By Mike Shepard | November 30, 2007; 3:15 PM ET | Comments (0)

Citadel To The Rescue?

The WSJ offers a fascinating inside look (subscription required) at Citadel Investment Corp.'s move to inject $2.55 billion in cash into troubled E*Trade. The big hedge fund run by Chicago-based Kenneth Griffin was already an investor in the discount brokerage and banking company, so it had skin in E*Trade's decline....

By Dan Beyers | November 30, 2007; 8:20 AM ET | Comments (0)

Early Briefing: Home Prices Take Biggest Hit Since 1970

(By Justin Sullivan -- Getty Images) *The Commerce Department said that the median price of a new single-family home dropped 13 percent in October, the biggest percentage drop in 37 years. Local builders and home sellers said that while there's still action in the market, some people can't buy...

By Terri Rupar | November 30, 2007; 5:00 AM ET | Comments (0)

Newseum Hires Agency Behind the Geico 'Caveman' Ads

The Caveman Web site involves consumers actively in Geico's advertising. (Geico) News needs advertising. Advertising needs news. It is a marriage of absolute necessity: No advertising, and there's no one to pay for publishing the news; no news, and there's no one to look at the advertising. Don't believe...

By Mike Shepard | November 29, 2007; 2:14 PM ET | Comments (0)

The Kitchen Cabinet Slowdown

The slowdown in the housing market is battering home prices, unending credit markets, and threatening the economy. So perhaps it's no surprise that it's also hurting the makers of kitchen cabinets. Take a look at the earnings report today from Winchester's American Woodmark. The manufacturer of cabinets and vanities...

By Dan Beyers | November 29, 2007; 8:10 AM ET | Comments (0)

Early Briefing: The Economy

*The District has a $350 million bond for schools, parks and road scheduled for next month that could be delayed if credit conditions continue to deteriorate. The credit crunch is making it harder to get money from the municipal bonds market, especially for municipalities that don't have the highest credit...

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

Pinkard Stepping Down as CEO of Firm He Founded

The chief executive of Cassidy & Pinkard Colliers, one of Washington's largest commercial real estate firms, is stepping aside after 23 years at the helm. Robert Pinkard, who co-founded the company in 1981, will leave his spot in January to become chairman. Joseph Stettinius, now the managing director of investor...

By Mike Shepard | November 28, 2007; 6:08 PM ET | Comments (0)

Early Briefing: Shoring Up Freddie's Reserves

*Freddie Mac plans to shore up its reserves against bad mortgage loans, saying it would sell $6 billion in new stock and cut its $2 annual dividend in half. See story *Most consumers use credit and debit cards while shopping online, but some, concerned about sharing information on the Internet,...

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

Early Briefing: Discovery's Criminal Intent

Here's some of the local business stories in Tuesday's paper: * Discovery Communications abandoned plans to sell or seek an equity partner for its Discovery Times channel and will rebrand it as Investigation Discovery, focusing on crime and forensics programming. To program the new channel, the Silver Spring media company...

By Dan Beyers | November 27, 2007; 7:01 AM ET | Comments (0)

ComScore Cancels Stock Sale, Citing Market Conditions

From the Associated Press ComScore, which provides data and research about online consumer behavior, said today it has canceled its proposed underwritten public offering of 6.1 million shares, citing unfavorable market conditions. On Friday, the Reston company applied with the Securities Exchange Commission to withdraw its registration statement for the...

By Mike Shepard | November 26, 2007; 11:41 AM ET | Comments (0)

Early Briefing: Washington's Green Economy

This week we focus on companies big and small around the region that are staking their claims on the green economy. * At its core, the business of climate change - at least the really big business of climate change - is an energy business. Many of the companies involved...

By Dan Beyers | November 26, 2007; 8:02 AM ET | Comments (1)

 
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