Archive: July 20, 2008 - July 26, 2008

Discovery Replaces TLC President

By Frank Ahrens It's been non-stop action at Discovery Communications since David Zaslav took over as chief executive in January 2007 and began executing a number of high-profile moves, such as shutting down the Discovery Channel stores. Today, he took action on one of his moves that hasn't worked out...

By Dan Beyers | July 25, 2008; 3:00 PM ET | Comments (0)

Tech Post: Venture Capital Clouds on the Horizon

Here's Zach Goldfarb's weekly update on the local technology scene. Featured: LivingSocial, Starfish Retention Solutions, iBelong Network, Millmark Education and SwipePay It is going to be an adventure for venture capital -- that's for sure. Locally, the National Venture Capital Association reported this month that second-quarter venture capital investment slid...

By Zachary Goldfarb | July 25, 2008; 1:36 PM ET | Comments (0)

Coventry Profit Falls 45 Percent

From the Associated Press Health insurer Coventry Health Care said second-quarter profit fell 45 percent, to $83.2 million (55 cents a share) from $151.3 million (96 cents), as medical costs climbed, particularly in Medicare Advantage plans. Revenue at the Bethesda company rose 28 percent, to $2.98 billion, but the growth...

By Terri Rupar | July 25, 2008; 10:33 AM ET | Comments (0)

Early Briefing: Bob Johnson's Foray Into Liberia

* Typically, you might expect hotel owner Robert L. Johnson to leave the spiel about bed linens and room decor to his marketing types. Robert Johnson, who is building a resort in Liberia, says African Americans "have a responsibility" to support the West African nation. (Rlj Cos.) But here he...

By Dan Beyers | July 25, 2008; 7:02 AM ET | Comments (0)

Graduation at Urban Alliance

By Thomas Heath A group of Washington area businesses that takes about 150 D.C. public high school students each year and helps prepare them for the professional world held a commencement ceremony Thursday morning at George Washington University. The group is known as the Urban Alliance and has 80 Washington...

By Terri Rupar | July 24, 2008; 5:01 PM ET | Comments (43)

Roundup: Foundation Coal, Honest Tea, Sallie

From staff and wire reports *Foundation Coal Holdings of Linthicum Heights said posted a second-quarter loss of $4.4 million (10 cents a share), compared with a loss of $3.8 million (8 cents) in the comparable period a year earlier. Revenue grew 12 percent, to $411.9 million. Results were hurt by...

By Terri Rupar | July 24, 2008; 4:32 PM ET | Comments (0)

Post 200 Roadshow: Crowell & Moring

Welcome to a new feature we're calling the Post 200 Roadshow. We're dropping in on the region's biggest companies, nonprofits, employers and law and lobby firms to have a look around and chat up their executives. We stopped by law firm Crowell & Moring, which has more than 400 attorneys....

By Terri Rupar | July 24, 2008; 12:31 PM ET | Comments (0)

Earnings: FBR Group, Integral Systems, Strayer, Sandy Spring Bancorp

*Friedman, Billings, Ramsey Group said last night that it swung to a loss of $25.1 million (17 cents a share) in the second quarter, compared with a profit of $10.2 million (6 cents) in the comparable period a year earlier. Revenue fell 77.7 percent, to $71.3 million. FBR Group of...

By Terri Rupar | July 24, 2008; 11:43 AM ET | Comments (0)

Early Briefing: Housing Bill Set to Pass

*The House easily approved legislation that seeks to slow the steepest slide in house prices in a generation, rescue hundreds of thousands of homeowners at risk of foreclosure and reassure global markets that mortgage-finance giants Fannie Mae and Freddie Mac will not be allowed to fail. The Senate plans to...

By Terri Rupar | July 24, 2008; 5:00 AM ET | Comments (0)

Miller & Long, Others Help Acclimate Immigrants

By Alejandro Lazo As U.S. businesses grow increasingly dependent on Hispanic workers, some are taking steps to integrate immigrant laborers into American society by offering on-site English courses, job training in Spanish, financial literacy courses and information about social services and citizenship. A report released Wednesday by the New York-based...

By Dan Beyers | July 23, 2008; 5:30 PM ET | Comments (0)

Roundup: Sallie, USIS, LaSalle, Corporate Executive Board

From staff and wire reports *SLM said its second-quarter profit fell 72 percent, to $266 million (50 cents a share) from $966 million ($1.03), as investors purchased fewer securities backed by its loans. In the second quarter last year, Reston-based Sallie Mae had a gain of $842 million from derivatives....

By Terri Rupar | July 23, 2008; 5:21 PM ET | Comments (0)

NII Profit Up 85 Percent; FBR Capital Markets Posts Loss

From staff and wire reports *NII Holdings said profit grew 85 percent in the second quarter, to $155.2 million (88 cents a share) from $84.1 million (47 cents) in the comparable period a year earlier, beating Wall Street expectations, because of subscription growth. The Reston-based wireless service provider to Latin...

By Terri Rupar | July 23, 2008; 11:01 AM ET | Comments (0)

General Dynamics Profit Up 25 Percent

From the Associated Press Defense contractor General Dynamics said second-quarter profit rose 25 percent, to $641 million ($1.60 a share) from $513 million ($1.26), boosted by higher sales of armored vehicles and tanks. The Falls Church-based company said revenue rose nearly 11 percent, to $7.30 billion. Looking ahead, the company...

By Terri Rupar | July 23, 2008; 10:15 AM ET | Comments (0)

Early Briefing: Cleaner Carts And A Tysons B-Day

Jason Kirsch puts some carts through the newly installed washing machine for carts.(Katherine Frey -- The Washington Post) *Jason and Kevin Kirsch know how common it is for the youngest customers at Chevy Chase Supermarket on Connecticut Avenue to treat cart handles like lollipops. Worse, they know how unnerved...

By Terri Rupar | July 23, 2008; 5:00 AM ET | Comments (0)

Value Added: Venture-ing On The Web

Here's Tom Heath's latest column on Washington's entrepreneurial set: Matt Silverman is a fifth-year student at George Washington University, where he will graduate with a master's degree in information systems this December. He is a Web geek. He gets his news from digg.com, slashdot.org, reddit.com and The Drudge Report. He...

By Dan Beyers | July 22, 2008; 5:52 PM ET | Comments (22)

Mortgage Bankers Association Replaces President

By Jeffrey H. Birnbaum The Mortgage Bankers Association replaced its president today with a longtime industry executive. Jonathan L. Kempner, 57, who has been the association's president since 2001, said he would step down at the end of the year. He will be succeeded by John A. Courson, a former...

By Terri Rupar | July 22, 2008; 5:17 PM ET | Comments (0)

XM Loss Shrinks

From the Associated Press XM Satellite Radio Holdings reported a smaller second-quarter loss of $119.6 million (38 cents a share), compared with a loss of $175.7 million (57 cents) a year earlier. Sales rose to $318 million from $277.3 million. XM added 322,000 new net subscribers in the second quarter...

By Terri Rupar | July 22, 2008; 12:07 PM ET | Comments (0)

NVR Profit Falls 43 Percent, Stock Gains

From Bloomberg News NVR said second-quarter profit fell 43 percent, to $51.3 million ($8.64 a share) from $90.7 million ($14.14), as orders declined amid tougher mortgage guidelines and falling buyer confidence. New orders and profit margins "continue to be negatively impacted by high levels of new and existing home inventories,...

By Terri Rupar | July 22, 2008; 11:13 AM ET | Comments (0)

Lockheed Profit Up 13 Percent

From the Associated Press Lockheed Martin said second-quarter profit rose 13 percent, to $882 million ($2.15 a share) from $778 million ($1.82), as a drop in its fighter jet business was offset by higher sales in its space, electronic systems and information technology units. Revenue grew 4 percent, to $11...

By Terri Rupar | July 22, 2008; 10:22 AM ET | Comments (0)

Early Briefing: Giuliani Comes To Town

* Berman Enterprises of Rockville is teaming with Giuliani Partners, an investment firm founded by former New York City mayor Rudy Giuliani, in a fund that will invest in commercial and residential real estate. The Berman Enterprises Opportunity Fund will seek to raise $500 million to $750 million from foreign...

By Dan Beyers | July 22, 2008; 7:01 AM ET | Comments (0)

Local Firm Sold In Social Media Deal

This also ran on the Post I.T. blog: By Kim Hart Social media isn't just for Web-addicted teens anymore. It's now a full-blown marketing business that has sparked a cottage industry of public relations firms that specialize in helping corporations infiltrate the world of blogs, wikis and social networks. Geoff...

By Dan Beyers | July 21, 2008; 2:06 PM ET | Comments (0)

Up and Down: Banks, Fannie and Freddie, VSE, Blackboard, Coal

The S&P 500 rose 1.7 percent last week, while the Post-Bloomberg index gained 0.03 percent. *Last week's biggest gainer was Provident Bankshares (PBKS) of Baltimore, which Thursday reported a small drop in profit and fewer delinquent loans than in the first quarter. Shares had hit their 52-week low of $4.52...

By Terri Rupar | July 21, 2008; 11:45 AM ET | Comments (0)

Early Briefing: Washington's Mad Men & Women

Washington's mad men and women (By Kevin Clark - The Washington Post) *Ah, early 1960s corporate America. Sharp suits with pocket squares. Brylcreem. Smoking in the office, a decanter of good Scotch on every executive's sideboard and multi-martini lunches. A great time to be alive. Assuming you were a...

By Terri Rupar | July 21, 2008; 5:00 AM ET | Comments (0)

 
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