Early Briefing: Jared Lost With Subway. Larry Feldman Won.
It's Monday, so we're all local.
*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 of the mid-Atlantic -- has just opened his 1,019th shop in the region.
The story of how Feldman got exclusive Subway rights in this area began in 1977, when Feldman was an assistant minority counsel to the House Banking Committee. He wanted to turn a vacant space steps from the U.S. Capitol, on First Street SE next to Congressional Liquors, into part of a budding chain of sandwich shops that were the brainchild of a buddy from the University of Bridgeport. That chain was Subway.
*FLO, a small Chantilly start-up, saw opportunity in speeding frustrated travelers through airport security.
Pre-screen fliers with government background checks and give them smart cards imprinted with their personal information and iris and fingerprint scans. Create separate "fast-pass" security lanes, lined with kiosks that verify identities, then send these fliers past the long lines directly to X-ray machines and metal detectors.
Only one problem: Another company got there first. And it wasn't just another start-up. It was New York media mogul Steven Brill's newest business venture.
*Angel investors and wealthy individuals promised to invest a little more than $1 million in BioMarker Strategies, a young Baltimore biotech working on medical devices and diagnostics for cancer patients. So Scott Allocco, president of BioMarker, invested 11.5 hours on a downtown Baltimore sidewalk to snag them thousands of dollars in tax credits.
It'll be a month before he'll knows whether the Maryland Department of Business and Economic Development approves his application for the credits. The state allocates $6 million in tax credits on a first-come, first-served basis. And Allocco wasn't the first in line.
Last week senior executives and scientists started assembling along East Redwood Street as much long as 17 hours before the department opened for business the next day. At 9 a.m. on July 1, the start of the fiscal year, the department began accepting applications for its Biotechnology Investment Tax Credit program. Eligible investors backing young Maryland biotechs can get 50 percent of their money back in the form of a tax credit.
*Marriott International thinks turtle mating season might put guests in the mood to make babies. The company's resort in Marco Island, Fla., is offering a special package: the Fertile Turtle. Robert Pfeffer, the sales director at the resort, said the Fertile Turtle was Marriott's spin on a popular new getaway: the procreation vacation.
*KZO Innovations of Herndon thinks its technology might help online video take a big leap. First, it allows just about anybody with a webcam to set up a six-way video conference for free at www.kzoinnovations.com/webcam. Second, and what KZO says is really key, is it allows users to combine video with other sorts of content -- for instance, live comments of people watching the video, PowerPoint presentations and images, for instance.
*Ted Ward, vice president of marketing for Geico, talked with Tom Heath about the genesis of the company's ad campaigns, from the gecko to Joan Rivers to the cavemen.
July 7, 2008; 5:00 AM ET
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