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 for his resignation. The announcement follows last week's news that CapitalSource will discontinue its status as a real estate investment trust next year.

MBA students, such as Georgetown's Stefanie Snider and Carlos Jovel MunguĂ­a, are thankful to ride out the downturn in the sanctuary of academia.

In other news:

On Mondays, we focus exclusively on local business. In today's edition, staff writer Ian Shapira, takes a look at business school in the midst of the down economy. He finds that MBA applicants are increasingly taking shelter at local programs but that phenomenon has also caused a surge of applications, making getting in more competitive.

Staff writer Cecilia Kang has a piece today about local telecom firms that, to compete with the likes of Verizon and AT&T, took on piles of debt to put down fiber optic cable or raise cell phone towers. This has left some of them, such as Ciena, Cogent and XO Communications, more vulnerable.

"The bruised economy has delivered only a glancing blow to Fight Night, the testosterone-soaked guys-only charity bash held each year at the Hilton Washington," according to staff writer Tom Heath. The charity's founder and primary benefactor, Joseph E. Robert Jr., chairman of the J.E. Robert Cos., said the sales of tables are taking a little longer this year.

* Thelen LLP, an 84-year-old law firm with offices in the District and around the world, said last week that it might close by early December. And GridPoint of Arlington, which develops technologies to help consumers, received $120 million in venture capital last quarter.

By Alejandro Lazo  |  November 3, 2008; 7:41 AM ET  | Category:  Economy Watch , Morning Brief
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