Archive: November 9, 2008 - November 15, 2008

The Weekend Movie: "Arlington - Field Of Honor"

Veteran's Day was Monday but it is never too late to honor those who made the ultimate sacrifice. Here's a National Geographic doc on Arlington National Cemetery, courtesy of Snagfilms.com. SnagFilms is a startup backed by Washington Capitals majority owner Ted Leonisis and others; we wrote about the company here....

By Dan Beyers | November 14, 2008; 5:00 PM ET | Comments (0)

CapitalSource Steps Closer To Becoming Bank

CapitalSource of Chevy Chase has taken another step toward becoming a commercial bank. CapitalSource is undergoing a transition from commercial lender and real estate investment trust to bank holding company. These days that model is seen as more stable since deposits have become a more reliable source of money...

By Alejandro Lazo | November 14, 2008; 4:45 PM ET | Comments (0)

Morning Brief: Fannie, Freddie Costs Could Climb

There are lots of big local news stories today. First off, the seizure of Fannie Mae and Freddie Mac, is poised to get more expensive and some are cautioning that the takeover might cost the government more than suggested, reports staff writer Zachary A. Goldfarb. The turmoil in the financial...

By Alejandro Lazo | November 14, 2008; 8:05 AM ET | Comments (0)

Happy Ending For Prime Site Downtown

By Dana Hedgpeth Developers for one of the city's most prominent downtown sites said yesterday that they closed a $194 million construction loan to build an office building at the corner of K Street and Connecticut Avenue NW. The loan was provided by a consortium of six banks, led by...

By Dan Beyers | November 13, 2008; 4:54 PM ET | Comments (0)

Stopping By An Edgemoor Investment Seminar

I attended a two-hour pitch last night held by a local Washington investment advisory firm known as Edgemoor Investment Advisors, located on M Street in downtown D.C. and managed by Timothy C. Coughlin. Coughlin is a banking maven on the Washington scene who was most recently president of Riggs...

By Tom Heath | November 13, 2008; 1:24 PM ET | Comments (0)

Morning Brief: Mt. Pleasant Empties With Downturn

Up and down the commercial heart of Mount Pleasant storefronts are empty, a reflection of the broader economic downturn. As staff writer Paul Schwartzman reports today: "The palm reader left months ago, as did the laundromat, computer center and two food markets. Across the way, the charred vestiges of...

By Alejandro Lazo | November 13, 2008; 8:14 AM ET | Comments (2)

Nervousness In Private Equity-land

By Thomas Heath There was much nervousness last night at a downtown D.C. shindig for the private equity world, hosted by Dan Primack, a blogger at peHub.com, which write about the private equity world. The reception was held at Fado Irish Pub and Restaurant near the Verizon Center. It was...

By Dan Beyers | November 12, 2008; 12:23 PM ET | Comments (2)

Morning Brief: Fannie, Freddie Attack Foreclosures

Fannie Mae and Freddie Mac are at the forefront of the national economic story again. The two mortgage giants are an integral part of a government plan unveiled on Tuesday to help delinquent borrowers out of foreclosure. The new program ushers in a more simplified process for determining who is...

By Alejandro Lazo | November 12, 2008; 8:06 AM ET | Comments (0)

Farmer Mac Feels Freddie, Lehman's Pain

Farmer Mac, the country cousin to mortgage giants Fannie Mae and Freddie Mac, took a beating from its investments in Fannie and investment bank Lehman Brothersin the third quarter. The company's misfortunes illustrate how the demise of some of the United States' biggest financial giants has reverberated throughout the...

By Alejandro Lazo | November 11, 2008; 5:05 PM ET | Comments (0)

Morning Brief: BearingPoint Focuses on Debt

BearingPoint is stepping up its efforts to renegotiate its debt load. Kenneth A. Hiltz, a managing partner with the turnaround firm AlixPartners, takes over as the company's new chief financial officer. His job will be finding ways of conserving cash and negotiating with the company's lenders, BearingPoint said in a...

By Alejandro Lazo | November 11, 2008; 7:47 AM ET | Comments (0)

Up and Down: Catalyst, TNS, SRA International

Local stocks fell more than 5 percent last week, while the S&P 500 lost 3.9 percent. *Catalyst Health Solutions (CHSI), formerly HealthExtras, said Tuesday that profit rose, and though its 2009 estimates were below analysts', its shares still rose 30 percent last week, closing Friday at $21.94. *Optelecom-NKF (OPTC) also...

By Terri Rupar | November 10, 2008; 12:16 PM ET | Comments (0)

NVR Chairman Will Forgo Salary For Third Year

Add Dwight C. Schar, the executive chairman of Reston-based homebuilder NVR, to the list of local executives who are announcing pay cuts due to the rough economy. Schar will forego his $1.5 million salary and take no bonus in 2009 as his company weathers the worst housing downturn in...

By Alejandro Lazo | November 10, 2008; 11:39 AM ET | Comments (0)

More From Hugh Panero

Here's a fuller interview with Hugh Panero, who guided Washington's XM Satellite Radio from its infancy in 1998. Panero has joined Chevy Chase venture capital firm New Enterprise Associates. Panero, 52, who also has a background in cable television, will work with NEA's consumer technology group, identifying promising young companies...

By Terri Rupar | November 10, 2008; 10:30 AM ET | Comments (0)

Strayer Will Move to Herndon

CB Richard Ellis said Monday morning that Strayer Education is consolidating its headquarters at Dulles Station East, a new building that sits along the Dulles Toll Road in 2010. The company is currently based in Arlington. Why should we care? The 12-year lease should help to moderate the surge...

By Alejandro Lazo | November 10, 2008; 9:39 AM ET | Comments (0)

Morning Brief: A Look at Commercial Real Estate

We focus exclusively on local business on Mondays and this week we took a look at one of the region's key industries: commercial real estate. We found that the slowdown in consumer spending and the credit crunch have put the brakes on retail projects throughout the region. Developers here...

By Alejandro Lazo | November 10, 2008; 8:07 AM ET | Comments (0)

The Download: Saying G'Bye To Tom Davis

Kim Hart writes about the region's technology scene every other Monday. For government contractors, the election means saying goodbye to a longtime advocate. After 14 years representing Virginia's 11th Congressional District, which includes Fairfax County's bastion of federal contractors, Republican Rep. Tom Davis is retiring. His departure leaves a...

By Dan Beyers | November 10, 2008; 5:32 AM ET | Comments (0)

Value Added: Sitting On Dry Powder

My colleague Dana Hedgpeth and I recently spent an hour over coffee with Michael Glosserman, managing member of the JBG Holding Co., which is one of Washington's most prominent private equity real estate firms. JBG's investors include the Yale University Endowment, which is sort of a badge of honor...

By Dan Beyers | November 9, 2008; 8:00 PM ET | Comments (1)

 
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