Early Briefing: Md's Climate Control Rules

*A bill in Maryland that would set up one of the nation's most ambitious sets of controls on carbon dixiode emissions got consideration from the state legislature and endorsement from Gov. Martin O'Malley. But executives worry that the rules would make electricity prices even higher and make the state less competitive. See story.

*A Virginia Senate committee voted for a tax-relief proposal that would allow local governments to give homeowners as much as a 20 percent break on real estate assessments. See story.

Former BearingpPoint chief executive Harry You lands a new gig. (Lois Raimondo - The Washington Post)

*EMC, a maker of storage computers in Hopkinton, Mass., named former BearingPoint chief executive Harry You executive vice president. BearingPoint of McLean ousted You in December after he failed to help the computer-services firm turn a profit. He had been chief executive since March 2005 and finance chief before that. See press release.

*Following the lead of its corporate parent's flagship publication, the Baltimore Sun said that it planned to launch a free daily tabloid aimed at younger readers. The publication, known as b, will debut on April 14 and come out on weekdays. It's modeled in part after RedEye, the free tabloid published by the Chicago Tribune.

*Martha Stewart Living Omnimedia said it agreed to buy 40 percent of the wedding planning Web site WeddingWire, a Rockville company, in a move to expand its own wedding business. Stewart's company did not disclose the terms of the deal. WeddingWire will offer its online tools on the weddings section of MarthaStewart.com.

*TierOne said it does not plan to terminate its sale to CapitalSource of Chevy Chase as it awaits approval from the Office of Thrift Supervision. In November, TierOne's shareholders approved the sale of the bank to CapitalSource for $423.4 million. The agreement allowed either company to terminate the deal after Feb. 17 if it had not closed.

*NASA has picked Dulles-based Orbital Sciences to develop a commercial spaceship to fly cargo to the international space station. The announcement comes four months after the space agency reopened bidding after an original winner failed to secure enough private financing for its project. NASA is giving $170 million to Orbital Sciences, which makes small rockets and small systems.

*NeuStar of Sterling, which provides clearinghouse services to the communications and Internet industry, said its board authorized the repurchase of up to $250 million in Class A stock over two years. The company is targeting the purchase of up to $150 million by year-end.

NeuStar has about 76.9 million shares outstanding. Shares of the company have traded between $21.33 and $36.33 over the past year and ended yesterday's session down 48 cents at $24.16.

By Terri Rupar  |  February 20, 2008; 5:00 AM ET  | Category:  Morning Brief
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