Early Briefing: Local Budget Feeling The Pinch

Here's some of the local business stories that ran in this morning's newspaper:

* Local government budgets are feeling the pinch of the housing downturn, which has started to dry up key sources of revenue. Some jurisdictions - including Fairfax, Montgomery and Prince William counties - are already running deficits. See story.

* Lockheed Martin's F-16 remains a top revenue producer for the Bethesda defense contractor on strong sales overseas. But that fighter's continued dominance poses a challenge as the company ramps up production of the F-35 -- which comes with the latest technology but also with a hefty price tag that may make it a tougher sell. See story.

*The art-deco Hecht's warehouse on New York Ave. in Northeast Washington has been purchased by a developer that plans to convert the space into a new retail hub. See story.

* Beltsville-based BioServe has been rapidly transforming itself - hiring a new chief executive, acquiring a large repository of biological samples and signing a string of deals - as part of an effort to keep pace with changes in the consumer and scientific worlds. See story.

* Americans are less satisfied with the services they receive from government than those provided by the private sector, a new survey finds. See Stephen Barr's Federal Diary column.

* The founder of TranTech, a Va. technology company, celebrates the firm's lucky eighteenth anniversary. See story.

* Fannie Mae's board felt the wrath of investor Evelyn Y. Davis during the mortgage finance company's shareholder meeting last week. See story.

* Sidney Harman calls the cancellation of the buyout of the audio equipment company he founded "good for both sides" and shares what's on his iPod. See interview with The Post's Thomas Heath.

By Mike Shepard  |  December 16, 2007; 11:14 PM ET  | Category:  Morning Brief
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