Archive: October 26, 2008 - November 1, 2008

The Weekend Movie: "Inside The Bubble"

The presidential election is right around the corner, so we figured this week's offering courtesy of SnagFilms should focus on politics. "Inside The Bubble" is a flick by director Steve Rosenbaum (7 Days In September). He and his crew had broad access inside the 2004 presidential campaign of Sen. John...

By Dan Beyers | October 31, 2008; 5:00 PM ET | Comments (0)

Kevin Plank: Schmoozing With His Customers

Tom Heath's "Value Added" column moves to Mondays, but that isn't stopping him from sharing a little insight he picked up at lunch today: Kevin A. Plank, chairman and chief executive of Baltmore-based Under Armour, the sports apparel company, is hardly the sort who spends all his time in the...

By Tom Heath | October 31, 2008; 4:36 PM ET | Comments (0)

Lunch With Ken Burns

Tom Heath's "Value Added" column moves to Mondays. Until then, he wrote up the highlights of a recent trip to New England: One of the perks of this job -- maybe the best perk -- is that I get to meet interesting people. Last week, I joined half a dozen...

By Tom Heath | October 31, 2008; 2:00 PM ET | Comments (0)

Morning Briefing: Maryland Business Activity Drops

More evidence that the economic downturn is hitting close to home emerged on Thursday. A survey of Maryland businesses in the month of October by the Federal Reserve Bank of Richmond found a steep decline in its index of general business activity. Those surveyed by the bank reported sharp declines...

By Alejandro Lazo | October 31, 2008; 8:34 AM ET | Comments (0)

CapitalSource to Drop REIT Status

CapitalSource of Chevy Chase will cease to be a real estate investment trust next year because managing its portfolio of mortgage-related investments would be "imprudent and perhaps impossible," the company said Thursday. CapitalSource said in a filing with the Securities and Exchange Commission that the decision by its board of...

By Alejandro Lazo | October 30, 2008; 6:50 PM ET | Comments (0)

Comstock Remains on Nasdaq, for Now

Comstock Homebuilding of Reston will continue to be traded on the Nasdaq Stock Market -- for now. Comstock said Thursday that it has received a notice from the exchange, granting the company a request for a continued listing. The company has until April 13 to keep its shares above a...

By Alejandro Lazo | October 30, 2008; 5:57 PM ET | Comments (0)

Steve Case Brings BrainScope To DC

Tom Heath's "Value Added" column is moving to Mondays, but here's a short bit of news he didn't want to hold back. Steve Case, former chairman of AOL and founder of Revolution, LLC, a holding company for his various startups, is upping his investment in BrainScope, which develops hand-held, non-invasive...

By Dan Beyers | October 30, 2008; 3:26 PM ET | Comments (0)

BearingPoint Trying to Renegotiate Debt

Troubles continue to mount for McLean's BearingPoint. The management and consulting firm said late on Wednesday that efforts to sell itself, or parts of its business, had gone nowhere and that it will now look to renegotiate the terms of some of its debt with lenders in order to comply...

By Alejandro Lazo | October 30, 2008; 11:55 AM ET | Comments (0)

Early Briefing: Fannie's Disappearing Capital

By Alejandro Lazo So it turns out that nearly half of the capital mortgage giant Fannie Mae was sitting on in the months before being taken over by the government is now worthless. That's the news this morning from staff writer Zachary A. Goldfarb. He reports that District-based Fannie has...

By Alejandro Lazo | October 30, 2008; 7:58 AM ET | Comments (0)

Earnings Up for Two REITs, ManTech

A round of earnings reported on Wednesday gives a brief snapshot of the health of the Washington area's economy in the midst of the financial crisis. There was relatively bright news for two local real estate companies, with First Potomac Realty Trust of Bethesda saying profit tripled and Federal Realty...

By Alejandro Lazo | October 29, 2008; 7:05 PM ET | Comments (0)

Legg Mason Posts Loss But Stock Rises

By Alejandro Lazo The investment firm Legg Mason posted a second-quarter loss on Wednesday as revenue dropped and the market meltdown lead to a massive charge related to shoring up its money market funds. The Baltimore-based asset manager reported a loss of $103.8 million, or 74 cents per share, in...

By Dan Beyers | October 29, 2008; 12:12 PM ET | Comments (0)

Early Briefing: Is The Takeover Working?

For signs of just how difficult it is for the government to rescue the economy, one need look no further than Treasury's takeover of Fannie Mae and Freddie Mac. In the nearly two months since the government seized control of the mortgage finance giants, little progress has been made to...

By Dan Beyers | October 29, 2008; 8:12 AM ET | Comments (0)

CACI Profit Up 15 Percent

From the Associated Press CACI International of Arlington said its first-quarter profit rose 15 percent, to $21 million (69 cents a share) from $18.3 million (60 cents), as it secured more valuable contracts with the Defense Department, state and local governments, and federal civilian agencies. Revenue grew 18 percent, to...

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

Roundup: Gannett, ICO

From staff and wire reports *Gannett said it will cut another 10 percent from the workforce at its local newspapers by early December. The latest reductions, to come by early December, follow a 10 percent cut announced in August. Neither round affects USA Today. McLean-based Gannett isn't revealing a specific...

By Terri Rupar | October 28, 2008; 4:01 PM ET | Comments (0)

Value Added Is Moving

Looking for Tom Heath's take on local entrepreneurs and how they've made their money? We're going to have to ask you to be patient. The Value Added column is making a move to Mondays, starting next week. It will continue to appear most weeks in the Monday Washington Business section....

By Terri Rupar | October 28, 2008; 12:25 PM ET | Comments (0)

Profit Up, Forecast Down At Under Armour

From the Associated Press: Under Armour said Tuesday its third-quarter profit rose 28 percent, but the company lowered its full-year profit outlook in anticipation of a tough holiday shopping season that will affect the fourth quarter. "While the company has delivered strong results for the first nine months of the...

By Dan Beyers | October 28, 2008; 10:09 AM ET | Comments (0)

Early Briefing: Financial Crisis Hits Junk Mail...

...and apparently that's not a good thing for the U.S. Postal Service. In his Federal Diary column, Joe Davidson reports that U.S. postal officials expect the service to lose $2.3 billion in fiscal 2008. One reason: Fewer credit card companies and mortgage firms are sending out mailings. "A lot of...

By Dan Beyers | October 28, 2008; 9:18 AM ET | Comments (0)

Up and Down: Banks, Integral Systems, Coventry, Sunrise

The Post-Bloomberg index fell more than 7 percent last week, while the S&P 500 fell 6.8 percent. *Five banks made it onto our list of top weekly gainers last week: Annapolis Bancorp (ANNB), up 14 percent; Central Virginia Bankshares (CVBK), up 11 percent; Fauquier Bankshares (FBSS), up 9 percent; Alliance...

By Terri Rupar | October 27, 2008; 12:00 PM ET | Comments (0)

Capital One, PNC, SunTrust Take Gov. Money

We are reposting this item from our EconomyWatch blog, The Ticker. By Binyamin Appelbaum Fifteen banks have added their names to the list of institutions accepting government investments. The companies include McLean-based Capital One, which said it will take $3.55 billion from the Treasury Department. The new banks join the...

By Dan Beyers | October 27, 2008; 11:52 AM ET | Comments (0)

Early Briefing: A Walk Down Main

It's Monday, so we're taking a local angle on all the economic news. By Dominic Bracco II -- The Washington Post *A bonding company, a Greek restaurant, a bakery, a print shop and a law firm are among the companies lining Fairfax's Main Street. Some are already seeing lean times...

By Terri Rupar | October 27, 2008; 5:00 AM ET | Comments (0)

 
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