Early Briefing: Goodbye, Produce Galore
*The Columbia grocery store was started in 1976 with $1,000 won on a lottery ticket. It sold products that were exotic for the time, such as cilantro and ginger. But other grocery stores caught up, and more big ones moved in, and now Produce Galore is closing its doors.
"I'm just waiting for a millionaire to read your letter and say, 'I'm going to save you,' " said Heather Damore of Columbia. She paused, and then had a better idea: "I'm going to buy a lottery ticket." See story.
*Pepco Holdings of the District said in a press release it appointed Joseph M. Rigby as its president. Rigby, a former executive vice president, will continue in his role as chief operating officer, Pepco said. Dennis R. Wrasse, the chief executive, had been serving as president.
The company also said Kirk Emge, vice president of legal services, will be general counsel. He is taking over for William T. Torgerson, vice chairman and chief legal officer.
*Lockheed Martin chief executive Robert J. Stevens got $30.9 million in compensation last year, according to the company's recent proxy, including salary, bonus and option awards. That's up from $18.6 million in 2006. Part of his big boost 2007 came about because he's eligible to retire. He was also rewarded for beating Wall Street's expectations for 2007.
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