Archive: November 2, 2008 - November 8, 2008

The Weekend Movie: "Super Size Me"

Here's a reason to pass up those fries this weekend, courtesy of SnagFilms. Filmmaker Morgan Spurlock investigates America's obesity woes by going on a "McDonald's only" diet for 30 days. The results are not pretty. SnagFilms is a startup backed by Washington Capitals majority owner Ted Leonisis and others; we...

By Dan Beyers | November 7, 2008; 7:35 PM ET | Comments (0)

Morning Brief: Sunrise's Loss And Discovery Gains

Sunrise Senior Living reported a net loss of $68.7 million in the third quarter as it wrote down the value of some its abandoned development projects and expenses from its accounting restatements continued to weigh on its finances. "This quarter was very difficult as we incurred a significant net...

By Alejandro Lazo | November 7, 2008; 8:28 AM ET | Comments (0)

From Russia With, Er, Oligarchs

By Thomas Heath I talked to Joseph E. Robert Jr., chairman and founder of J.E.R. Companies, the McLean-based real estate firm, today. Robert had just returned from an "intelligence gathering" business trip to Russia, London and other points east. He declined to discuss his company's earnings, which came in today...

By Tom Heath | November 6, 2008; 4:15 PM ET | Comments (0)

How Will Obama Affect Our Economy?

What will an Obama Administration mean for me? That is one of the biggest questions facing the Washington area business community these days. The Greater Washington Board of Trade took at stab at answering that question on Thursday morning. It hosted a forum with Politico consisting of two panels,...

By Alejandro Lazo | November 6, 2008; 1:00 PM ET | Comments (0)

Morning Brief: CapitalSource Eyes Treasury $$$'s

CapitalSource of Chevy Chase is taking steps to become a bank holding company and be eligible for federal funds under the Treasury Department's rescue plan. The firm acquired the assets of a troubled California community bank in July. That deal provided the commercial lender with a well of deposits in...

By Alejandro Lazo | November 6, 2008; 7:15 AM ET | Comments (0)

Carlyle Reaches Out To Nervous Investors

By Thomas Heath Carlyle Group, the private equity giant headquartered in Washington, this week held its first-ever conference call with more than 400 nervous investors to help manage their expectations during the current financial upheaval. The firm's troika of co-founders, Bill Conway, Dan D'Aniello and David Rubenstein were all on...

By Tom Heath | November 5, 2008; 3:06 PM ET | Comments (1)

Morning Briefing: Commercial Real Estate Plunges

Commercial real estate, which has long been a major industry in the Washington area, is looking to chalk up one of its worst years since the bust of the early 1990s reports staff writer Dana Hedgpeth. "In the Washington area, there is a concern that new developments won't break ground,...

By Alejandro Lazo | November 5, 2008; 7:47 AM ET | Comments (0)

The Next President's To-Do List

Tom Heath writes about greater Washington's local business community. I chatted with Carter Pate today, a partner at the PricewaterhouseCoopers accounting firm and the Virginia finance chairman for the McCain-Palin campaign. Pate said he was "cautiously optimistic" about the election, but I wanted to know what he thought the new...

By Tom Heath | November 4, 2008; 2:25 PM ET | Comments (0)

Gannett Chief Says In Memo He Will Take Pay Cut

Another one takes the cut. Craig Dubow, chairman and chief executive of McLean-based Gannett, said in an internal memo on Monday evening that he is voluntarily taking a 17 percent salary reduction of $200,000 starting this month and continuing in 2009. That would put him on track for a salary...

By Alejandro Lazo | November 4, 2008; 1:04 PM ET | Comments (0)

Morning Briefing: Sallie Chairman Accepts Pay Cut

Anthony P. Terracciano, chairman of Sallie Mae, will take a yearly pay cut and delay some of his stock awards as the company weathers a rough time for the student lending business. Anthony P. Terracciano, chairman of Sallie Mae, will take a pay cut. (Via Bloomberg News) The student...

By Alejandro Lazo | November 4, 2008; 7:52 AM ET | Comments (0)

Dan Snyder's "Valkyrie"

Tom Heath covers Washington's business community. I was perusing the competition's news pages on Sunday and noticed a full-page advertisement for Tom Cruise's new film, the long-awaited "Valkyrie," which opens in December. Studios usually open their big blockbusters during the early summer or during the holiday Season between Thanksgiving and...

By Tom Heath | November 3, 2008; 12:56 PM ET | Comments (1)

Morning Briefing: CapitalSource Director Resigns

CapitalSource of Chevy Chase continues to make changes in the midst of the financial crisis. The company said in a filing on Monday that Jason M. Fish, a co-founder and director since 2000, resigned last week as vice chairman of the board. The company did not give a reason...

By Alejandro Lazo | November 3, 2008; 7:41 AM ET | Comments (0)

Up and Down: NII, American Capital, Sunrise, Blackboard

The Post-Bloomberg index rose more than 11 percent last week, as the S&P 500 climbed 10.5 percent. *NII Holdings (NIHD) shares gained 67 percent last week, closing at $25.76 on Friday - four cents above its close two weeks before that. Shares had lost 40 percent the previous week on...

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

Value Added: The Heating And A/C Annuity

Here's Tom Heath's latest column on Washington's business community: I always thought annuities were something paid to me. But sometimes it's the other way around. Every spring we call Bethesda Shade & Awning (now in Gaithersburg) and ask them to put up the awnings at our Chevy Chase home. They...

By Dan Beyers | November 2, 2008; 8:00 PM ET | Comments (10)

 
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