Early Briefing: Liquor Licensing at the National Harbor

*A political struggle over a liquor license for the Gaylord resort at National Harbor could end if the Maryland legislature passes a bill that would impose the state's highest annual liquor licensing fee on a retail establishment there: $20,000. See story

*Radio One of Lanham recorded a $404 million write-down in the value of same radio station licenses and reported a net loss for the fourth quarter of $386.4 million, wider than its loss of $25.5 million in the same quarter of 2006. It blamed a drop in national advertising. Analysts were concerned about the urban broadcaster's cash flow. See story.

*The regulator for Fannie Mae and Freddie Mac said it would help New York Attorney General Andrew Cuomo in an investigation of alleged mortgage fraud, Sen. Charles E. Schumer (D-N.Y.) said. Cuomo is seeking information on whether home loans purchased by District-based Fannie Mae and McLean-based Freddie Mac are based on bogus property valuations.
James B. Lockhart III, director of the Office of Federal Housing Enterprise Oversight, said the agency would try to "accelerate the process" of gathering information from the government-chartered companies to send to Cuomo's office.

*Sallie Mae named Michael E. Sheehan general counsel, replacing Robert S. Lavet, who resigned from the Reston student-loan company last month. Sheehan joined the company, formally known as SLM Corp., in 1992 and previously led the legal work on corporate finance transactions and securities matters, Sallie Mae said in this release.

By Terri Rupar  |  February 22, 2008; 5:00 AM ET  | Category:  Morning Brief
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