Archive: August 31, 2008 - September 6, 2008

Former Regulator: Move On Freddie, Fannie Now

By David S. Hilzenrath The federal government has the power to put Fannie Mae and Freddie Mac into receivership now and should do so without delay to prevent the mortgage funding giants from digging taxpayers into a deeper hole. That's the assessment of Armando Falcon Jr., who from 1999 to...

By Dan Beyers | September 5, 2008; 5:20 PM ET | Comments (16)

The Weekend Movie: "7 Days In September"

From the folks at SnagFilms, we bring you one filmmaker's remembrance of the tragic events of September 11, 2001. SnagFilms is a startup backed by Washington Capitals majority owner Ted Leonsis and others; we wrote about the company here....

By Dan Beyers | September 5, 2008; 4:00 PM ET | Comments (0)

Early Briefing: MiddleBrook's New Leader

*As a senior executive at Adams Respiratory Therapeutics, John S. Thievon tackled the challenge of launching a pricey decongestant in a marketplace filled with cheap generics. Ultimately that drug, Mucinex, trampled its competition. Rudnic (By Kevin Clark -- The Washington Post) Thievon now faces a similarly daunting task as the...

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

Roundup: Human Genome Sciences, Comstock, SLM

From staff and wire reports *Human Genome Sciences of Rockville said it entered a manufacturing alliance with Hospira, agreeing to manufacture, develop and sell supplies of some of Hospira's biopharmaceutical products. The companies did not disclose financial terms of the deal or identify the products HGS would make. HGS also...

By Terri Rupar | September 4, 2008; 5:05 PM ET | Comments (0)

La Plaza: Danny Vargas At The GOP Convention

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 Raul "Danny" Vargas, chairman of the Republican National Hispanic Assembly and a prominent businessman from Northern Virginia, felt his ears still ringing on day two of his party's St. Paul...

By Dan Beyers | September 4, 2008; 2:00 PM ET | Comments (1)

Ciena Third-Quarter Profit Falls

From the Associated Press Telecommunications and network equipment maker Ciena said its fiscal third-quarter profit fell to $11.7 million (12 cents a share) from $28.3 million (29 cents) in the comparable period a year earlier, as a sharp increase in operating expenses overshadowed revenue growth. The Linthicum-based company's revenue rose...

By Terri Rupar | September 4, 2008; 11:12 AM ET | Comments (0)

HealthCentral Buys TheBody, BodyPro.coms

The HealthCentral Network of Arlington said it has purchased HIV/AIDS patient resource TheBody.com and HIV/AIDS health professional resource TheBodyPro.com, adding to its roster of health information Web sites. The terms of the deal were not disclosed. The two sites were services of New York-based Body Health Resources Corp. In a...

By Dan Beyers | September 4, 2008; 10:41 AM ET | Comments (0)

Early Briefing: A Question of Liability

*When Blackstreet Capital Management affiliate SFCA in April purchased the assets of Simplicity for Children, a leading manufacturer of children's furniture, it structured the deal so it would not assume responsibility for products already on the market. Yet, last week, the issue of liability arose when the Consumer Product Safety...

By Terri Rupar | September 4, 2008; 5:00 AM ET | Comments (0)

Roundup: N.E.W., United Therapeutics, GeoEye, Freddie

From staff and wire reports *Office Depot has partnered with N.E.W. Customer Service, a Dulles firm that sells extended warranty service plans for electronics, to start an online recycling program for unwanted devices. Customers can go to Office Depot's Web site and print a prepaid UPS label to ship N.E.W....

By Terri Rupar | September 3, 2008; 4:36 PM ET | Comments (0)

Adams Bank Chief Executive Steps Down

Jeanne Delaney Hubbard, the chairwoman, president and chief executive of Washington's Abigail Adams National Bancorp, has resigned. Abigail Adams is a two-bank holding company, majority owned and operated by women. A statement did not give a reason for her departure. The company recently suspended its regular quarterly dividends to help...

By Dan Beyers | September 3, 2008; 10:24 AM ET | Comments (0)

Gannett Acquires Majority Stake In Careerbuilder

From the Associated Press: McLean media giant Gannett Co. said Wednesday that it bought a 10 percent interest in CareerBuilder from Tribune Co. for $135 million, giving it a majority stake in the employment Web site. The deal bumps Gannett's interest in CareerBuilder up to 50.8 percent. Tribune now owns...

By Dan Beyers | September 3, 2008; 9:57 AM ET | Comments (0)

Early Briefing: Comstock Deal Lets It Get Rid of Debt

*Comstock Homebuilding of Reston said it has reached a deal with lender BB&T to wipe $32.7 million worth of troubled development loans from its books as it struggles to rebound in an ailing housing market. Under the deal, BB&T foreclosed on four of Comstock's properties in the Atlanta area. Two...

By Terri Rupar | September 3, 2008; 5:00 AM ET | Comments (0)

Value Added: Getting Rich By Living Modestly

Here's Tom Heath's latest column on greater Washington's entrepreneur set: One of the books I frequently pull off the shelf is a biography of Charlie Munger, the co-chairman of Berkshire Hathaway and Warren Buffett's sidekick. (Berskhire is part-owner of The Washington Post Co. ). "Damn Right," as the book is...

By Dan Beyers | September 2, 2008; 7:00 PM ET | Comments (16)

Up and Down: Fannie & Freddie, SI, FBR Capital Markets

Local stocks gained 0.32 percent last week, while the S&P 500 lost 0.7 percent. *Two of last week's biggest gainers were Freddie Mae (FRE) and Fannie Mae (FNM), as detailed by Zachary Goldfarb in Saturday's newspaper. Shares of Freddie rose 60 percent, to $4.51, and shares of Fannie rose 37...

By Terri Rupar | September 2, 2008; 12:00 PM ET | Comments (0)

SRA Sells Constella Futures

Government technology consultant SRA International said it sold Constella Futures, a unit that designed and helped manage social and public health programs in the developing world, to private investors for an undisclosed price. The buyers were led by former Constella Group chairman and chief executive Donald A. Holzworth. As part...

By Dan Beyers | September 2, 2008; 9:52 AM ET | Comments (0)

Early Briefing: DC's GOP Showdown

Democrats dominate politics in the District, but the race to watch in next Tuesday's primary is on the GOP side of the ballot. Veteran Carol Schwartz, the only Republican on the D.C. Council, faces an aggressive, well-funded challenge from a young former congressional staffer who says Schwartz has strayed too...

By Dan Beyers | September 2, 2008; 9:05 AM ET | Comments (0)

Early Briefing: Everything Goes

Happy Labor Day. It's Monday, so that means we're all local in the Business section today. *The owners are nowhere to be found when the sheriff's deputy shows up. The landlord is ready, however, and unlocks the business and tells the crew of 25 men to start removing the contents....

By Terri Rupar | September 1, 2008; 5:00 AM ET | Comments (0)

 
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