Roundup: Sallie, Circuit City, Federal Capital Partners

*Sallie Mae appointed a new director: Howard H. Newman, CEO of Pine Brook Road Partners, a private-equity firm. Newman was previously at Warburg Pincus.
The Reston company named two new directors last week and said to expect more.

*TechTeam Government Solutions of Chantilly, a unit of TechTeam Global, said it won a contract related to call centers, along with eight other firms. The program, called USA Contact, is potentially worth up to $2.5 billion over a 10-year period.

*Richmond's Circuit City is still under fire from activist investor Wattles Capital Management, which said yesterday the retailer should replace CEO Philip Schoonover and hire an investment bank to evaluate the possibility of a takeover offer. The investor called Circuit City's turnaround plan "disastrous."

*Fannie Mae of the District said that as of June 1, it won't buy most loans made to borrowers with credit scores below 580.

*Federal Capital Partners of the District said that in partnership with Angelo, Gordon & Co. it sold Shirlington Gateway in Alexandria for $62.5 million. It bought the 12-story, 207,000-square-foot office building in June 2006 for $55 million. The building is 98 percent full.
UPDATE: Esko Korhonen of FCP declined to say who bought the building but said it was a local, private buyer.

By Terri Rupar  |  April 2, 2008; 4:08 PM ET  | Category:  Roundup
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Please email us to report offensive comments.

Hope the Circuit City's Board consider Wastles's proposal carefully. They need new blood at the company.

Posted by: RRS | April 3, 2008 11:56 AM

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