Archive: November 16, 2008 - November 22, 2008

The Weekend Movie: "Nine Good Teeth"

As we approach Thanksgiving, there's one thing we can be thankful for -- we're here, living, some of us more than others. Courtesy of SnagFilms, here's a doc on the life of a 104-year-old grandmother. SnagFilms is a startup backed by Washington Capitals majority owner Ted Leonisis and others; we...

By Dan Beyers | November 21, 2008; 5:00 PM ET | Comments (0)

Morning Brief: Freddie, Fannie Halt Foreclosures

Mortgage giants Fannie Mae and Freddie Mac will suspend foreclosures and evictions for the holidays. The two companies, which were seized by the government in September, said they want to keep people from losing their homes. They said they are taking the step so they can include more people...

By Alejandro Lazo | November 21, 2008; 8:06 AM ET | Comments (0)

Giant Sales Up, Despite Tough Times

There is a small bright spot for grocery chain Giant amid the economic gloom-and-doom. Sales at Giant and its sister chain Stop & Shop, based near Boston, were up 4.4 percent to $3.9 billion during the third quarter compared to the same period last year. At Giant, sales at stores...

By Sara Goo | November 20, 2008; 11:46 AM ET | Comments (0)

Morning Brief: Inauguration Frenzy Hits Washington

Some visitors coming to Washington for President-elect Barrack Obama's inauguration are getting caught up in a frenzy in which thousands of people have come out of the woodwork to make a quick buck by offering their houses for rent. But the arrangements -- with deals being brokered largely between amateurs,...

By Alejandro Lazo | November 20, 2008; 9:05 AM ET | Comments (0)

Carlyle, General Dynamics Do A Deal

On a day when the Dow Jones Industrial Average dropped 5 percent, two of the Washington region's biggest corporate names - private-equity giant Carlyle Group, and defense/aerospace General Dynamics - announced a deal. Carlyle sold AxleTech International to Falls Church-based General Dynamics for an undisclosed amount. Carlyle bought AxleTech...

By Tom Heath | November 19, 2008; 4:28 PM ET | Comments (0)

Morning Brief: Fannie May Be Dropped BY NYSE

Fannie Mae it is at risk of being dropped from the New York Stock Exchange. The disclosure on Tuesday illustrates how far the giant has fallen. The company was once the largest public company in the Washington area and a bedrock of the U.S. financial industry. The announcement came...

By Alejandro Lazo | November 19, 2008; 8:32 AM ET | Comments (0)

The Obama Souvenir Rush

I talked to the guys at Capsco, Inc., in College Park this morning and asked them how the inaugural souvenir business is going and how they were coping with the inordinate demand for the Obama inauguration. Capsco, which is short for Capitol Souvenir Company, Inc., has been making souvenirs...

By Tom Heath | November 18, 2008; 1:47 PM ET | Comments (0)

Morning Brief: Treasury Invests In Four Local Banks

With the Treasury Department's rescue plan in full swing, more financial institutions with a Washington area presence are tapping the government funds. The Treasury said on Monday that it has made investments in four banks that operate in the Washington area. The Treasury has agreed to invest $175.3 billion...

By Alejandro Lazo | November 18, 2008; 8:12 AM ET | Comments (0)

Talking Real Estate With Charlie Bresler

VisArts of Rockville, a local-non profit that promotes contemporary art, honored one of its longtime benefactors, Fleur Bresler, with a dinner and auction last Saturday night at its headquarters in Rockville Town Center. VisArts is a lot like the Torpedo Factory in Old Town Alexandria; they both have work...

By Tom Heath | November 17, 2008; 5:25 PM ET | Comments (1)

Bad Auto, Credit Card Debts Rise At Capital One

For more evidence that consumers are struggling as the economy sours, one need not go further than McLean-based Capital One. In a monthly regulatory filing, the credit card giant and bank said on Monday that consumers had an increasingly difficult time paying off their credit card debt and auto...

By Alejandro Lazo | November 17, 2008; 12:33 PM ET | Comments (0)

Provident Bank Taps Treasury Rescue Funds

The American taxpayer now owns a $151 million slice of Baltimore-based Provident Bank. Provident Bankshares, the parent company of the bank, said on Monday morning that the Treasury Department had bought both senior preferred shares and warrants to purchase the company's common stock. The investments through Treasury Secretary Henry...

By Alejandro Lazo | November 17, 2008; 12:01 PM ET | Comments (0)

Up and Down: NCI, Hanger, American Capital, W.R. Grace

The S&P 500 index fell 6.2 percent last week, while the local stocks index dropped 7.7 percent. *Four banks made the list of top 10 gainers: Annapolis Bancorp (ANNB), up 47 percent, to $4.80; Abigail Adams National Bancorp (AANB), up 20 percent, to $3.90; F&M Bank Corp. (FMBM), up 5...

By Terri Rupar | November 17, 2008; 12:00 PM ET | Comments (0)

Morning Brief: Broker Raffles His Annapolis House

It is Monday morning and time to take a look at the local business scene. Some people in the housing market are getting increasingly creative when it comes to selling. Tom Walters, a mortgage broker, is raffling off his home, selling tickets for $50 for his $1 million six-bedroom,...

By Alejandro Lazo | November 17, 2008; 8:05 AM ET | Comments (0)

Value Added: A Trip To The Auto Dealer

Ed note: Thanks to our alert readers this post was updated to fix a math error in our estimate for profit before taxes and to clarify that we were offering annual estimates for the numbers of Chevys and Toyotas typically sold by dealerships, not monthly. When I was growing up...

By Dan Beyers | November 16, 2008; 8:00 PM ET | Comments (5)

 
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