Archive: July 13, 2008 - July 19, 2008

Friday Night At The Movies

As we reported the other day, Washington Capitals majority owner Ted Leonsis is launching a Web company to distribute documentaries online for free, creating a kind of virtual theater for moviemakers who may have difficulty getting their films shown in cinemas. He's calling his new enterprise SnagFilms and it works...

By Dan Beyers | July 18, 2008; 3:35 PM ET | Comments (0)

The Twin Tech Towns Come Together

Here's Zach Goldfarb's weekly update on the local technology scene. It was a melting pot of the Washington technology community. They came out--hundreds of them--from all sides: venture capitalists, Web developers, government contractors, online marketing pros, consultants and bloggers. The goal of the "Twin Tech Party" was to bring together...

By Zachary Goldfarb | July 18, 2008; 2:17 PM ET | Comments (17)

Profits Down Slightly At Eagle Bancorp

Eagle Bancorp said profits declined 6.2 percent in the second quarter, even though its assets grew by 12.6 percent to to $915.8 million. "At a time of substantial stress in our financial markets and instability in many banks, we are extremely pleased to report consistent net income and continued asset...

By Dan Beyers | July 18, 2008; 2:16 PM ET | Comments (0)

Early Briefing: Capital One Warns of More Defaults

*Capital One said profit in the second quarter fell by 40 percent and warned that more customers are defaulting on their loans. The McLean financial giant, which in recent years has diversified operations by adding retail banking and auto lending services, blamed the economic downturn for the rise in defaults...

By Terri Rupar | July 18, 2008; 5:00 AM ET | Comments (0)

Virginia Commerce Profit Down 28.5%; Provident Bankshares Down 2.5%

Earnings at Arlington-based Virginia Commerce Bancorp declined 28.5 percent in the second quarter as the number of bad loans in the banking company's portfolio ticked up and executives said they may seek fresh capital and would limit the number of loans the bank made to clients going forward. Separately, Provident...

By Terri Rupar | July 17, 2008; 12:40 PM ET | Comments (0)

Earnings: Danaher, Orbital Sciences

From the Associated Press *Diversified manufacturer Danaher said second-quarter profit rose 17 percent, to $363.4 million ($1.09 a share) from $311.2 million (96 cents a share) in the second quarter of 2007, citing a broad-based improvement in sales across its businesses that make products including medical tools and water treatment...

By Terri Rupar | July 17, 2008; 12:30 PM ET | Comments (0)

Early Briefing: Can't We All Just Get A Latte?

Murky Coffee owner Nicholas Cho, left, defended barista David Flynn in a letter on the store's Web site after a customer blasted Flynn, in person and in a blog, for balking at an order for a triple espresso on ice. The request violated company policy. (By Joe Heim --...

By Terri Rupar | July 17, 2008; 5:00 AM ET | Comments (0)

Klaassen Steps Down As Sunrise CEO

By Zachary A. Goldfarb Paul J. Klaassen, the chief executive of McLean-based Sunrise Senior Living, announced Wednesday night he is stepping down, more than a quarter-century after he founded a company that became the nation's largest senior living provider. He is being replaced by Mark Ordan, a founder of Fresh...

By Dan Beyers | July 16, 2008; 8:06 PM ET | Comments (0)

The Six Flags Roller Coaster

Does Six Flags chairman (and Washington Redskins majority owner) Dan Snyder need a new turnaround strategy? From the Associated Press: Six Flags Inc.'s shares, which have been punished by weakening consumer spending and soaring fuel prices, continued their roller coaster ride on Wednesday, plunging nearly 44 percent at the end...

By Dan Beyers | July 16, 2008; 5:49 PM ET | Comments (0)

Roundup: Summize, Capital One, Media General, Gladstone Capital

From staff and wire reports *Twitter acquired Summize to add technology for searching within the site. The five engineers who make up Potomac Falls-based Summize will take jobs at Twitter, the company said this week on its blog. Terms of the acquisition weren't disclosed. *GreenPoint Mortgage Funding, a Capital One...

By Terri Rupar | July 16, 2008; 4:02 PM ET | Comments (0)

Earnings: Host, Gannett

From the Associated Press *Host Hotels & Resorts of Bethesda its second-quarter funds from operations rose 16.7 percent, to 56 per share from 48 cents per share, on strong room rates, beating Wall Street expectations. Profit at the largest U.S. hotel real estate investment trust rose 28 percent, to $199...

By Terri Rupar | July 16, 2008; 1:30 PM ET | Comments (0)

Early Briefing: Skepticism on Aid for Fannie, Freddie

*Some lawmakers expressed doubts about the wisdom of the federal government's plan to prop up mortgage finance giants Fannie Mae and Freddie Mac, with one Republican senator complaining it was tantamount to writing a "blank check" to save the troubled companies. The often-outspoken Sen. Jim Bunning (R-Ky.) railed against the...

By Terri Rupar | July 16, 2008; 5:00 AM ET | Comments (0)

Value Added: Does Ralph Lauren Do Whale Belts?

Here's Tom Heath's latest column on Washington's entrepreneurial set: This is the Value Added that I look back upon proudly one day and say, "I discovered the next Ralph Lauren." Or it's the one where I say to myself, "What was I thinking?" I am betting it will be the...

By Dan Beyers | July 15, 2008; 4:36 PM ET | Comments (201)

Early Briefing: CareFirst Exec Has Exit Pay Halved

* The Maryland insurance commissioner Monday cut in half the $18 million severance package paid to former CareFirst BlueCross BlueShield chief executive William L. Jews, saying the CareFirst board failed to restrain his compensation and the company "strayed significantly from its nonprofit mission." The 65-page order by Insurance Commissioner Ralph...

By Dan Beyers | July 15, 2008; 6:39 AM ET | Comments (0)

Up and Down: Fannie and Freddie

The S&P 500 fell into bear territory last week, falling 1.9 percent, while the Post-Bloomberg index fell 1.3 percent. *No prizes for guessing who the two biggest losers were last week. Freddie Mac (FRE) shares fell 47 percent, to $7.75, and Fannie Mae (FNM) shares fell 45 percent, to $10.25....

By Terri Rupar | July 14, 2008; 1:00 PM ET | Comments (0)

Booz Allen, Private Equity & Government Contractors

By Zachary A. Goldfarb Carlyle Group's buyout of the government unit of Booz Allen Hamilton has raised the possibility that more private equity firms will be looking for companies to buy in the federal services space. In recent years, heavy government spending has lifted the fortunes of many of these...

By Zachary Goldfarb | July 14, 2008; 10:46 AM ET | Comments (0)

Early Briefing: Unprecedented Plan for Fannie, Freddie

*The federal government unveiled a broad program Sunday evening to bolster Fannie Mae and Freddie Mac, extending unprecedented support to the companies and proposing new authority to lend them money and even buy their stock. Scrambling to announce the initiative before the trading week began, federal officials said they would...

By Terri Rupar | July 14, 2008; 5:00 AM ET | Comments (0)

 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company