Archive: September 28, 2008 - October 4, 2008

The Weekend Movie: "What Would Jesus Buy?"

Before you go crazy spending that $700 billion bailout, here's a little food for thought courtesy of the folks at SnagFilms. SnagFilms is a startup backed by Washington Capitals majority owner Ted Leonsis and others; we wrote about the company here. Here's a synopsis from SnagFilms Web site: WHAT WOULD...

By Dan Beyers | October 3, 2008; 5:00 PM ET | Comments (0)

Vital Signs: G'Bye HealthExtras, Hello Catalyst

Vital Signs is our new blog-in-a-blog on the Washington area's biotech and health care scene. By Kendra Marr After more than a decade in business, HealthExtras decided that it was time to change its name. No, there isn't a merger. This isn't some attempt to cover up a scandal. And...

By Dan Beyers | October 3, 2008; 12:50 PM ET | Comments (0)

Vital Signs: The Weekly Roundup

Here's your weekly dose of biotech and health care news in the Washington region, by Washington Post biotech reporter Kendra Marr: * MedImmune of Gaithersburg licensed its "reverse genetics" intellectual property to The Research Foundation for Microbial Diseases of Osaka University in Japan. This method generates viruses, like influenza, from...

By Dan Beyers | October 3, 2008; 12:35 PM ET | Comments (1)

Revolution Health To Merge With NY Firm

A privately held online health information company has bought former AOL chairman Steve Case's Revolution Health in a deal the NY Times said was worth $300 million. The acquirer, Waterfront Media, runs the Everyday Health Network of sites. Together with Revolution Health, the combined company should generate enough online traffic...

By Dan Beyers | October 3, 2008; 8:55 AM ET | Comments (0)

Early Briefing: Md.'s Hoyer Holds His Nose

House Majority Leader Steny H. Hoyer, en route to a leadership meeting, is unhappy about additions to the plan, but is urging colleagues to vote for it. (By Melina Mara -- The Washington Post) Metro Staff writer John Wagner checks in with House Majority Leader Steny H. Hoyer (D-Md.)...

By Dan Beyers | October 3, 2008; 8:45 AM ET | Comments (3)

Early Briefing: The FDA And Its PR Problem

Staff writer Robert O'Harrow takes a look today at how the FDA handled a contract award to a local PR contract. Here's the start of his piece: The U.S. Food and Drug Administration had an image problem. For months last year the agency had been pummeled by Congress for poor...

By Dan Beyers | October 2, 2008; 9:00 AM ET | Comments (0)

Olsson's No More

An "organized wake" was planned in Dupont. (2000 Photo By Lucian Perkins -- The Washington Post) Local book and music purveyor Olsson's shut its doors after 36 years on Tuesday. On its Web site, the company said it has petitioned federal bankruptcy courts to change its bankruptcy status so...

By Dan Beyers | October 1, 2008; 8:55 AM ET | Comments (1)

Early Briefing: Who Speaks For Fannie, Freddie?

Who speaks for Fannie Mae and Freddie Max now? Their government overseer, apparently. The mortgage finance giants have dismantled their powerful lobbying corps, removing two dozen people who made up one of Washington's most formidable advocacy teams. The departures came after the government announced that all lobbying by the companies...

By Dan Beyers | October 1, 2008; 8:35 AM ET | Comments (0)

Value Added: Staying In The Game

Here's Tom Heath's latest column on Washington's business community: I first bumped into Russ Ramsey, a co-founder of investment banking firm Friedman, Billings, Ramsey Group, at the FBR Open golf tournament in Phoenix about five years ago. Russ has been an investor in Washington and its technology scene for two...

By Dan Beyers | September 30, 2008; 2:30 PM ET | Comments (7)

Data File: Tight Labor Market Continues

By V. Dion Haynes While unemployment rates in Virginia and Maryland rose in August, the jobless rate for some parts of the Washington region remained steady and others dropped, according to new data released by the Bureau of Labor Statistics Tuesday. Unemployment in the District, Arlington and Alexandria remained at...

By Dan Beyers | September 30, 2008; 2:11 PM ET | Comments (1)

Allied Capital Portfolio Co. Files For Bankruptcy

Another day, another sign of trouble in the lending world. An Allied Capital portfolio company called Ciena Capital has filed for bankruptcy, following "significant deterioration in the value of its assets," D.C.-based Allied Capital said in a statement. Allied Capital said it intends to pay off $320 million in Ciena...

By Dan Beyers | September 30, 2008; 10:11 AM ET | Comments (0)

Early Briefing: A New Banking Giant

The merger Monday of Wachovia and Citigroup combines two of metropolitan Washington's largest banks, creating a potential powerhouse accounting for nearly a quarter of the region's deposits. Wachovia was the region's largest bank, with $20.8 billion in deposits in 2007, and its combination with Citi, the seventh-largest, left local...

By Dan Beyers | September 30, 2008; 9:00 AM ET | Comments (0)

Circuit City Continues to Struggle

The Richmond electronics retailer is eating through its cash as it tries to turn around the operation. In its earnings release today, Circuit City said it had cash, cash equivalents and short-term investments of $92.5 million as of Aug. 31, compared to $424.4 million a year before. The company attributed...

By Dan Beyers | September 29, 2008; 10:26 AM ET | Comments (0)

Early Briefing: A Gut-Wrenching Ride

Staff writer Alejandro Lazo checks in on Washington's 20 largest public companies in the Post 200 to see how they are faring this year -- and judging from their collective stock performance, it is not a pretty picture. Given the turmoil, however, two names jumped out: Capital One, up 12...

By Dan Beyers | September 29, 2008; 8:22 AM ET | Comments (0)

The Download: Google Comes To FedTown

After a two-year-hiatus, The Download is back. The column will chronicle Washington's evolving tech scene and the people who make it tick. Kim Hart will write about Washington's tech scene every other Monday. Send tips to hartk@washpost.com. By Kim Hart The tall buildings in Reston bear the familiar names of...

By Dan Beyers | September 29, 2008; 5:00 AM ET | Comments (0)

 
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