Early Briefing: The Post 200
It's Monday, the day that we turn the Business section over to local news. And this Monday, the section is joined by The Post 200, a look at the public and private companies, banks, nonprofits, and law and lobby firms that drive the region's economy.
*It's commonly articulated that the Washington economy, helped by the presence of the federal government and a highly educated workforce, is somewhat insulated from recessions - like after 2001, when even with the concentration of tech companies, employment growth didn't fall as much as in the nation as a whole. But in 1991, the slowdown hit Washington harder than the country.
Whether the current downturn feels like '91 or '01 depends on a few factors, including government spending and housing prices.
*In their quarterly earnings conference calls, executives at many of the companies in The Post 200 gave their takes on the economy. While they generally remained upbeat about their ability to weather a downturn, they painted a painful picture of the economy overall.
*Tina W. Jonas is the comptroller and chief financial officer of the Defense Department, a mega-corporation with more than 3 million employees and more than 600,00 buildings and facilities that does business in 134 countries, writes Stephen Barr in his Federal Diary. "We do everything from floor waxing to repairing vehicles to accounting to logistics operations to running grocery stores," Jonas said.
From her Pentagon office, Jonas is responsible for the department's financial management policies, the computer systems that track $3.4 trillion in assets and liabilities, an annual budget of more than $600 billion, and efforts to modernize business practices.
*Peter F. Nostrand, right, headed Crestar Bank, which was sold to SunTrust; chaired the Greater Washington Board of Trade; and led the local United Way campaign. And now he's hiring a group of musicians and renting a hall in Prague to record a symphony he wrote.
*Stephen Joyce is one of a long line of executives to come up in Marriott International and then leave to run another company. The hotel company is "attractive place for people to go fishing," says Joyce, the new president and CEO-in-waiting and Choice Hotels.
Watch a video of an interview with Joyce.
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