Archive: August 24, 2008 - August 30, 2008

The Weekend Movie: "In Debt We Trust"

Courtesy of the folks at SnagFilms, we bring you a little holiday weekend diversion -- and maybe a reason to keep you from splurging. SnagFilms is a new startup back by Washington Capitals majority owner Ted Leonsis and others; we wrote about the company here....

By Dan Beyers | August 29, 2008; 4:00 PM ET | Comments (0)

Post 200 Roadshow: On The Bridge At Navy Federal

Welcome to 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. This week, we stopped by the Vienna corporate headquarters of Navy Federal, the world's largest credit union. You can...

By Dan Beyers | August 29, 2008; 10:00 AM ET | Comments (0)

Early Briefing: Freddie Hasn't Completely Reassured Investors

*Freddie Mac, which has lost more than 90 percent of its stock value since last fall, has repeatedly tried to dampen talk of a government bailout by highlighting the amount of capital it has on hand to weather problems. A presentation by top executives earlier this month offered a window...

By Terri Rupar | August 29, 2008; 5:00 AM ET | Comments (0)

Roundup: Sallie Mae, Constellation, Micros Systems

*Micros Systems said Thursday its fiscal 2008 fourth-quarter profit grew 12 percent, to $30.7 million (37 cents a share) from $27.4 million (33 cents) in the comparable period a year earlier. Revenue rose 16 percent, to $256.6 million from $221.6 million. Revenue grew in every category, rising 21 percent in...

By Terri Rupar | August 28, 2008; 5:30 PM ET | Comments (0)

GeoEye Signs Deal With Google

By Frank Ahrens GeoEye said today that it has signed an exclusive contract to provide photos from its newest satellite to Google Maps. The Boeing Delta II rocket The Dulles-based satellite imaging company's existing satellites provide images to Google, Microsoft and Yahoo, but the new bird, GeoEye-1, will have Google...

By Terri Rupar | August 28, 2008; 4:38 PM ET | Comments (0)

La Plaza: Finding Talent In Puerto Rico

Welcome to Alejandro Lazo's weekly blog-within-a-blog on the region's Latino business community; we're calling it "La Plaza." By Alejandro Lazo At the Sagragdo Corazon University in San Juan, Alfredo Casta not only honed his skills as a computer programmer but sat through the sermons of a college nun who preached...

By Dan Beyers | August 28, 2008; 2:00 PM ET | Comments (1)

Early Briefing: (Contractor) Spies Among Us

*About a quarter of the nation's core intelligence workforce are contractors, perhaps as many as 37,000 private employees who work side-by-side with civil servants as analysts, technology specialists and mission managers, according to a report about government outsourcing by the Office of the Director of National Intelligence. The vast majority...

By Terri Rupar | August 28, 2008; 5:00 AM ET | Comments (0)

Management Shake-Up at Fannie Mae

From staff and wire reports Fannie Mae says three top executives are leaving as the mortgage finance company aims to cope with mounting losses from the mortgage crisis. Chief Financial Officer Stephen Swad is leaving to "pursue other opportunities" in the private-equity business. He is being replaced by David C....

By Terri Rupar | August 27, 2008; 4:58 PM ET | Comments (3)

Roundup: Tourism, Orbital Sciences, Lockheed

From staff and wire reports *The number of visitors to Washington rose in 2007 and is holding steady this year, though tourism officials are bracing for a decline in 2009 because of the weakening U.S. economy, according to statistics released Wednesday. Washington counted 16.2 million visitors in 2007 -- a...

By Terri Rupar | August 27, 2008; 4:04 PM ET | Comments (0)

The Local Economy: Income and Va. Joblessness

The Greater Washington Initiative said yesterday that the Washington area is second among major metropolitan areas in median household income, second to only San Jose, which it lags by $593. The median household income here is $83,200, up from $79,500 a year ago, according to census data. Other findings by...

By Terri Rupar | August 27, 2008; 3:37 PM ET | Comments (0)

SI International Agrees To Merger

SI International, a Reston information technology provider to the government and defense department, has reached an agreement to merge with the Northern American unit of a U.K firm known as Serco Group plc. SI International, with 4,200 employees worldwide, 80 percent of whom have security clearances, agreed to be bought...

By Dan Beyers | August 27, 2008; 8:53 AM ET | Comments (0)

Early Briefing: Small Banks Feel the Crunch

*Kassie Rempel, owner and founder of the boutique online retailer SimplySoles, had to personally guarantee a loan from Bethesda-based Eagle Bank three months ago to build her first store, in Columbia Heights in Northwest Washington. Bank officials told her that because of credit conditions, the practice has become standard across...

By Terri Rupar | August 27, 2008; 5:00 AM ET | Comments (1)

Value Added: The Souvenir Business

Here's Tom Heath's latest column on greater Washington's entrepreneur set: Capitol Souvenir Co. in College Park, Md. , really isn't a souvenir company. It's a tourism business. Capsco-Inc.'s sales rise and fall on the ability of people to travel. What Washingtonian is going to walk across the mall and buy...

By Dan Beyers | August 26, 2008; 6:07 PM ET | Comments (16)

Abigail Adams Suspends Dividend

By Binyamin Appelbaum Abigail Adams National Bancorp, a regional lender based in the District, said this morning that it had suspended dividend payments to save money for other needs, including the potential cost of rising defaults on real estate and development loans. "Current economic conditions require prudent management and conservation...

By Terri Rupar | August 26, 2008; 11:00 AM ET | Comments (0)

Early Briefing: Where The Jobs Are

* The Federal Diary's new columnist, Joe Davidson, writes that every day seems to bring more bad news about newspaper colleagues around the country losing their jobs. The auto industry is shedding workers faster than gas-guzzling SUVs. The Bureau of Labor Statistics says layoffs "were the highest for the month...

By Dan Beyers | August 26, 2008; 8:39 AM ET | Comments (0)

Early Briefing: The Man Behind The Man

It's Monday, the day we turn the Business section over to news about local companies and trends. James Kimsey at lunch with Peter Kirsch, who leads a staff that manages the AOL founder's affairs. (By Nikki Kahn -- The Washington Post) * It's early on a spring morning and Peter...

By Dan Beyers | August 25, 2008; 8:21 AM ET | Comments (1)

 
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