Archive: July 6, 2008 - July 12, 2008

Will the Twin Tech Towns Find Common Ground?

Here's Zach Goldfarb's weekly update on the local technology scene. In Washington politics, of course, we have the two-party system. In Washington technology, we have new and old. It's an election year, so it's not hard to guess which of those divided Washington worlds is trying to come together. In...

By Zachary Goldfarb | July 11, 2008; 10:29 AM ET | Comments (10)

Early Briefing: Fannie and Freddie Continue Their Fall

*Shares of Fannie Mae and Freddie Mac continued to plummet Thursday as investors and federal officials contemplated the possibility that the giants of the mortgage business could require a federal bailout. On Capitol Hill, the Treasury secretary offered reassurance that they are still on firm footing, and the Senate moved...

By Terri Rupar | July 11, 2008; 5:00 AM ET | Comments (1)

FBR Capital Markets Cuts Health Care Team

By Thomas Heath Rosslyn-based FBR Capital Markets on Wednesday laid off its 11-member health care research staff and decided to no longer continue coverage of the sector. "We had not had the level of success we would have liked, given our level of investment," said FBR Capital Markets President Richard...

By Dan Beyers | July 10, 2008; 7:59 PM ET | Comments (0)

Roundup: Giant, Liquidity Services

From staff and wire reports *Royal Ahold appointed Carl Schlicker to succeed Jose Alvarez as chief executive of its Stop & Shop/Giant-Landover unit. Alvarez will become executive vice president for global business development and will report to Ahold CEO John Rishton, the Amsterdam-based company said. *Check out Sharon McLoone's Small...

By Terri Rupar | July 10, 2008; 4:23 PM ET | Comments (3)

Marriott Profit Drops 24 Percent

From the Associated Press Hotel operator Marriott International said second-quarter earnings dropped 24 percent, to $157 million (42 cents a share) from $207 million (51 cents) in the comparable period a year earlier, as the deteriorating economy dragged down demand, a trend the company expects will extend into next year....

By Terri Rupar | July 10, 2008; 10:59 AM ET | Comments (0)

Early Briefing: Chevy Chase Closes Mini-Branches

*Chevy Chase Bank is closing 54 mini-branches in Giant Food stores across the Washington region, ending a decade-long initiative to add banking to grocery shoppers' "to do" lists. The closings coincide with the expiration of a 10-year contract that Chevy Chase Bank signed with Giant. The shutdowns will begin next...

By Terri Rupar | July 10, 2008; 5:00 AM ET | Comments (0)

Roundup: Fannie and Freddie, Comstock, Micros

From staff and wire reports *Shares of Fannie Mae and Freddie Mac tumbled today amid continuing fears the mortgage finance companies will be forced to sell more new shares than anticipated to compensate for losses from the housing slump. Shares have plunged to levels not seen since the early 1990s....

By Terri Rupar | July 9, 2008; 4:51 PM ET | Comments (0)

Early Briefing: An Accidental Breach

*Sometime late last year, an employee of a McLean investment firm decided to trade some music, or maybe a movie, with like-minded users of the online file-sharing network LimeWire while using a company computer. In doing so, he inadvertently exposed the private files of his firm, Wagner Resource Group, to...

By Terri Rupar | July 9, 2008; 5:00 AM ET | Comments (0)

Roundup: Lockheed, Gannett, LandAmerica, Alex. Brown

From staff and wire reports *Lockheed Martin said it received a $1.2 billion contract from the Transportation Security Administration to manage its human resources program. Under the contract, for as many as eight years, the Bethesda company said it will develop a human resources system that will be used to...

By Terri Rupar | July 8, 2008; 4:21 PM ET | Comments (0)

Value Added: Being The Boss

Here's Tom Heath's latest column on Washington's entrepreneurial set: Farhat Elmohtaseb doesn't want to answer to a boss, or punch a clock or work his way up some corporate ladder. He is right where he wants to be: the owner and operator of four Subway sandwich shops in downtown Washington....

By Dan Beyers | July 8, 2008; 2:52 PM ET | Comments (0)

ExecuTube: The Subway King of the Mid-Atlantic

Yesterday's Washington Business section featured a profile of Larry Feldman, who recently opened his 1,019th Subway store. He sat down with Tom Heath for a lengthy interview. Here's part one, and check out more from Feldman on competition, quality control and entrepreneurship....

By Terri Rupar | July 8, 2008; 12:07 PM ET | Comments (0)

Up and Down: United Therapeutics, NCI, Deltek, Vanda

In a short trading week, the S&P 500 took its fifth straight weekly fall, dropping 1.3 percent. The Post/Bloomberg index fell 3.6 percent. *United Therapeutics (UTHR) was the biggest gainer last week, with shares of the Silver Spring biotech gaining 9 percent, to $102.70. Shares went as high as $106.24...

By Terri Rupar | July 7, 2008; 12:17 PM ET | Comments (0)

Early Briefing: Jared Lost With Subway. Larry Feldman Won.

It's Monday, so we're all local. Larry Feldman (By Marvin Joseph - The Washington Post) *The cost of food is increasing. A slumping economy is forcing Americans to eat out less frequently. Home values are dropping. Gasoline is rising. Starbucks is shuttering stores. And Larry Feldman -- the Subway King...

By Terri Rupar | July 7, 2008; 5:00 AM ET | Comments (0)

 
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