Roundup: Steptoe & Johnson, XM, MicroStrategy, BearingPoint

From staff and wire reports

*Steptoe & Johnson of the District named partner Daryl "Sandy" Chamblee as its first chief diversity partner. Chamblee will implement a firmwide diversity plan while maintaining her litigation practice in the D.C. office of the law firm, which has about 500 attorneys. Her practice focuses on life sciences, health and medical issues.

The diversity plan, approved by the firm's executive committee last year, encompasses race, gender, disability and sexual orientation, according to the statement.

*The chief executives of Sirius Satellite Radio and XM Satellite Radio Holdings met with a Federal Communications Commission member Deborah Taylor Tate to press for approval of their plan to combine the companies. Sirius's Mel Karmazin and XM's Nate Davis met Monday with Tate, one of the panel's Republican majority, according to a filing on the FCC Web site.

Separately, Sirius disputed claims by a Sen. Sam Brownback (R-Kan.) that Karmazin may have misled Congress in testimony on the deal. Brownback said a broadcaster-backed group also fighting the deal had raised "possible contradictions" between documents Sirius filed with the FCC and testimony by Karmazin.

"Sirius's testimony was completely accurate," Patrick Reilly, a spokesman for the company, said in an e-mail.

*MicroStrategy of McLean saw sales jump as banks tried to upgrade risk-reporting systems after the subprime mortgage crisis, CEO Michael Saylor said. "A lot of people are spending a lot more on reporting on risk management that is offsetting whatever economic impact we might see," Saylor said.

*BlackRock chief executive Laurence Fink said Fannie Mae and Freddie Mac need a major influx of capital in order to pursue opportunities in the market's dislocation, a move that could help the nation's housing industry climb back from its worst slump in decades.

He believes more cash must flow into Freddie Mac and Fannie Mae to ease the housing crisis, and said on the sidelines of a conference that lawmakers must allow this to happen. Fink's fund management firm is an adviser to Fannie, and has been hired by companies such as J.P. Morgan Chase and ailing state investment pools to better manage inventories of crippled mortgage-backed securities.

He would not speculate on how much fresh capital Fannie and Freddie need, other than saying "a lot."

*BearingPoint of McLean said it has hired two former U.S. ambassadors: John Blaney, former ambassador to Liberia, and Thomas Hull, former ambassador to Sierra Leone. The consulting firm named both as senior strategic advisers for its Public Services Emerging Markets practice as it looks to grow in Africa.

By Terri Rupar  |  June 11, 2008; 4:07 PM ET  | Category:  Roundup
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