Early Briefing: Prince George's Tiny Slice Of Pie
* Of the 361 contracts issued to build the massive National Harbor development, only 12 went to minority-owned businesses in Prince George's County, despite an agreement aimed at bringing more business to county firms. See story.
* Radio One is selling its Los Angeles station to Bonneville International for about $137.5 million, a decision that means the Lanham urban radio giant will no longer have a presence in the nation's largest radio market by revenue. See story.
* Sallie Mae of Reston named Michael E. Martin and Frank C. Puleo to its 15-member board. Martin, 52, is president of Brooklyn NY Holdings. Puleo, 62, was a partner at Millbank, Tweed, Hadley & McCloy, where he advised on structured finance deals. See press release.
The company also disclosed that it paid Albert Lord $1.66 million last year, including pay for two weeks as chief executive. See proxy.
* Sunrise Senior Living, which operates nursing homes and other facilities, said it completed a restatement of results from 1996 through 2005 that reduced earnings by $173 million. The restatement comes after a review that found accounting errors but no evidence of stock-option backdating or insider trading. See story.
* American Capital Strategies said it plans to sell 8.7 million shares of its common stock to reduce debt and fund investments. The Bethesda-based firm is a business development company that invests from $5 million to $800 million each in affiliates throughout North America and Europe. American Capital has $19 billion under management. See press release.
* Katharine Weymouth's salary was raised to $500,000 in February when she was named publisher of The Washington Post newspaper and chief executive of Washington Post Media, according to a report The Post Co. filed with the Securities and Exchange Commission. Last year, as the newspaper's vice president for advertising, she received a salary of $220,000 and a bonus of $108,167.
Weymouth was among several executives named in yesterday's disclosure whose salaries exceeded the $400,000 base pay received by her uncle, Post Co. chairman and chief executive Donald E. Graham. Graham, one of the company's principal shareholders, has not accepted an increase in his salary in 17 years. His salary is significantly below the median for chief executives of peer companies, and the Post Co. does not use it to set the pay of other top executives, the SEC filing said.
March 25, 2008; 7:48 AM ET
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