Archive: September 7, 2008 - September 13, 2008

The Weekend Movie -- "Dolphins: The Wild Side"

From the folks at SnagFilms, we bring you a little National Geographic diversion -- because, well, we like dolphins almost as much as pandas. SnagFilms is a startup backed by Washington Capitals majority owner Ted Leonsis and others; we wrote about the company here....

By Dan Beyers | September 12, 2008; 3:54 PM ET | Comments (0)

Vital Signs: Edward Rudnic's Exit Interview

Welcome to Kendra Marr's new blog-in-a-blog on the Washington area's biotech and health care scene. We're calling it Vital Signs. By Kendra Marr If you are looking for the former chief executive of MiddleBrook Pharmaceuticals these days, chances are you'll find Edward M. Rudnic golfing somewhere in California, far removed...

By Dan Beyers | September 12, 2008; 11:45 AM ET | Comments (0)

Vital Signs: The Weekly Roundup

Welcome to Kendra Marr's new blog-in-a-blog on the Washington area's biotech and health care scene. We're calling it Vital Signs. By Kendra Marr Here's a roundup of recent biotech and health care news in the area: *Tracey Schmitt, spokeswoman for Emergent Biosolutions of Rockville, is joining Alaska Gov. Sarah Palin's...

By Dan Beyers | September 12, 2008; 11:30 AM ET | Comments (0)

Early Briefing: Delays on the ICC

*Construction on a part of the intercounty connector project will be delayed indefinitely to save money, and a bond sale to finance part of the construction was postponed this week as officials deal with cost overruns and uncertain federal funding, Maryland officials said. Maryland Transportation Secretary John D. Porcari said...

By Terri Rupar | September 12, 2008; 5:00 AM ET | Comments (1)

Roundup: Vanda, Host, Hanger, NVR

From staff and wire reports *Vanda Pharmaceuticals' stock rose slightly today, after the company said it was preparing a response to the Food and Drug Administration's rejection of its schizophrenia drug treatment. Vanda and the FDA met yesterday to talk about iloperidone, Vanda's schizophrenia treatment. While the FDA suggested this...

By Terri Rupar | September 11, 2008; 5:31 PM ET | Comments (1)

La Plaza: Fluent in Spanish-Language Media

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 Francisco R. Montero, co-managing partner with the Arlington-based law firm Fletcher, Heald & Hildreth, has made his career representing Hispanic media. The medium first caught his eye when he was...

By Dan Beyers | September 11, 2008; 1:46 PM ET | Comments (1)

Mattress Discounters Seeks Bankruptcy Protection

Bloomberg News Mattress Discounters sought bankruptcy protection from creditors for the second time in six years, citing declining sales. The closely held Upper Marlboro company, known for its "Have a good night's sleep on us" jingle, listed both debt and assets of $10 million to $50 million in Chapter 11...

By Terri Rupar | September 11, 2008; 12:35 PM ET | Comments (1)

Early Briefing: A New Bloomie's and Safeway

Bloomingdale's plans to open a trendy concept store in Georgetown modeled after its above-pictured store in New York's SoHo neighborhood. (By Gregory Bull -- Associated Press) *Bloomingdale's announced plans to open a store in the Shops at Georgetown Park in the next three years, providing a boost to a...

By Terri Rupar | September 11, 2008; 5:00 AM ET | Comments (1)

Roundup: Marriott, Sunrise, EagleBank, SLM, AOL

From staff and wire reports *Marriott International said James M. Sullivan, the Bethesda firm's head of global development, will retire in April after 25 years at the company. Sullivan, 64, was the primary architect of much the company's growth in recent years, leading the department responsible for making deals with...

By Terri Rupar | September 10, 2008; 4:17 PM ET | Comments (1)

Early Briefing: Revolution, Everyday Health in Talks

*Revolution Health Network is in discussions to merge with Everyday Health, a marriage that would join two of the three most-visited online health information networks. Sources familiar with the discussions said that the merger is still in the negotiation stage and that the role of former AOL chairman Steve Case,...

By Terri Rupar | September 10, 2008; 5:00 AM ET | Comments (0)

Value Added: Banking On Brookland

Here's Tom Heath's latest column on greater Washington's entrepreneur set: I was reading Inc. magazine in an airport concourse a few months back when I saw Bo Menkiti's name as one of the nation's up-and-coming "under 30" entrepreneurs. I saved the magazine and last week phoned Menkiti to ask how...

By Dan Beyers | September 9, 2008; 5:20 PM ET | Comments (12)

CSC: Just the Initials Now

By Alejandro Lazo Computer Sciences Corp. is ditching its full name for initials and rolling out the first brand campaign in its 50-year history. Falls Church-based CSC is marketing its consulting and software development division, its fastest-growing business, in newspaper advertisements across the country. The company has also given...

By Terri Rupar | September 9, 2008; 4:46 PM ET | Comments (0)

Roundup: Gannett, SRA, NVR, RLJ

From staff and wire reports *Gannett is eliminating about 100 management jobs at its newspapers across the country on top of about 1,000 job cuts, including 600 layoffs, announced last month. Neither round of cuts affects Gannett's flagship newspaper, USA Today. The McLean-based publisher announced the cuts after revenue declined...

By Terri Rupar | September 9, 2008; 4:26 PM ET | Comments (0)

Early Briefing: Changes Start at Fannie, Freddie

*The new chief executives of Fannie Mae and Freddie Mac arrived at the companies' campuses and set about the challenging task of expanding their funding of mortgages in the near term and protecting taxpayers from losses in the long term. Once among the biggest companies in the country, Fannie Mae...

By Terri Rupar | September 9, 2008; 5:00 AM ET | Comments (0)

Freddie's CEO Shuffle And New Details On Pay

Sunday night we shared with you memos from the outgoing and incoming chief executives at Fannie Mae. Today, staff writer Zachary A. Goldfarb has collected memos from the top executives at Freddie Mac. First up is former CEO Richard Syron's goodbye to Freddie employees. Then you can read incoming David...

By Dan Beyers | September 8, 2008; 5:11 PM ET | Comments (1)

Up and Down: Provident, Jos. A. Bank, Ciena, Chindex

*Local stocks fell 2 percent last week, a short trading week, when the S&P 500 lost 3.2 percent. *Shares of Provident Bankshares (PBKS) rose 13 percent last week, closing at $8.70. Shares hit their 52-week low of $4.52 July 15 and have been rising since an analyst called the Baltimore...

By Terri Rupar | September 8, 2008; 12:00 PM ET | Comments (0)

Early Briefing: The Fannie-Freddie Rescue

*The government seized control of Fannie Mae and Freddie Mac in a dramatic bid to restore faith in the embattled mortgage giants and arrest a vicious cycle that has driven the nation's economy into a steep downturn. The companies, with a combined 11,000 employees, have funded more than two-thirds of...

By Terri Rupar | September 8, 2008; 5:00 AM ET | Comments (0)

Feds To Fannie: Your Jobs Are Secure

Here's a memo posted on the Fannie Mae intranet Sunday. Staff writer David S. Hilzenrath transcribed it after it was read to him by a source. MEMORANDUM To: Fannie Mae Officers, Employees, and Other Personnel From: James B. Lockhart III FHFA Director Fannie Mae Conservator Subject: Conservatorship of Fannie Mae...

By Dan Beyers | September 7, 2008; 8:30 PM ET | Comments (19)

Dan Mudd Says Goodbye

The government Sunday unveiled a sweeping plan to take over the mortgage finance companies Fannie Mae and Freddie Mac and to use government dollars to prop up the mortgage market, taking unprecedented steps to use the public purse to try to bolster the housing and financial markets. Daniel H. Mudd....

By Dan Beyers | September 7, 2008; 7:57 PM ET | Comments (13)

 
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