Roundup: Constellation, CSC, WorldSpace

From staff and wire reports

*Constellation Energy Group of Baltimore said that its chief financial officer is stepping down and that it will promote the treasurer to replace him. The company said John R. Collins will take an advisory role in the company's merger with MidAmerican Energy Holdings. He will also remain chairman of Constellation Energy Partners, which is 28 percent owned by Constellation Energy. Collins will be replaced as finance chief by Jonathan W. Thayer, 37, who was named treasurer in August. Also, Charles A. Berardesco, 50, was named Constellation's general counsel. He had been deputy general counsel and succeeds Irving B. Yoskowitz, who is retiring.

*Information-technology contractor CSC said it has received a contract worth up to $300 million from the U.S. Department of Education. The Enterprise Development Support Services contract has a five-year base period and five one-year extensions. Under the contract, CSC and four other, so-far unnamed, companies will provide the Office of Federal Student Aid with IT services.

*WorldSpace won interim court permission to borrow $2 million while it tries to reorganize and attract new investors. U.S. Bankruptcy Judge Peter Walsh approved the request by the operator of two satellites for the loan. Silver Spring-based WorldSpace said in court papers that it plans to return and ask Walsh for authority to borrow as much as $11 million more from a group of lenders led by Citadel Structured Products.

WorldSpace filed for bankruptcy protection on Oct. 17, listing debt of $2.1 billion and assets of $307.4 million as of June 30.

By Terri Rupar  |  October 21, 2008; 4:03 PM ET  | Category:  Roundup
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