Archive: December 14, 2008 - December 20, 2008

Morning Brief: Passing Up Holiday Parties

The holiday spirit is touching some local companies and organizations. Staff writer William Wan reports today that some of these companies have foregone fancy holiday parties and canceled their fruit baskets to clients, instead funneling the money to local food banks for the needy. Such donations have come from...

By Alejandro Lazo | December 19, 2008; 9:13 AM ET | Comments (0)

General Growth Reaches Agreement With Lenders

General Growth Properties, the Chicago real estate behemoth that owns Tysons Galleria, Landmark Mall and the Mall in Columbia said late Wednesday that it had reached an agreement to postpone payment on $900 million worth of mortgage loans on two Las Vegas properties. The lenders could have called the company...

By Alejandro Lazo | December 18, 2008; 10:30 AM ET | Comments (0)

Morning Brief: Constellation Takes French Offer

Constellation Energy Group has taken a pass on Warren Buffett's offer. Instead, a big French utility agreed to pay $4.5 billion for a half interest in the company's nuclear power plants and a Midwest utility controlled by Buffett got $593 million in cash plus a 10 percent stake in...

By Alejandro Lazo | December 18, 2008; 7:19 AM ET | Comments (0)

Morning Brief: Scheme Claims Local Victims

The Madoff scheme appears to have some local victims. Staff writer Megan Greenwell reports today that the umbrella group that provides funds to almost every Jewish nonprofit group in the Washington region might have lost more than $10 million to the widening scandal. The investment firm operated by Bernard...

By Alejandro Lazo | December 17, 2008; 9:37 AM ET | Comments (0)

Morning Brief: Upset Over Home Purchase Program

Last month the D.C. Council voted to suspend $11 million of the Home Purchase Assistance Program's $34 million budget -- a popular housing program that helps residents with down payments and closing costs. On Tuesday, the council heard directly from those affected. Dana Grinage, whose voice cracked, told council...

By Alejandro Lazo | December 16, 2008; 9:08 AM ET | Comments (0)

General Growth Continues Negotiations With Banks

General Growth Properties is still in talks with lenders. The owner of Tysons Galleria, Landmark Mall and the Mall in Columbia said Monday morning that it had yet to reach "unanimous agreement" with a consortium of banks on an extension to pay back $900 million worth of loans and that...

By Alejandro Lazo | December 15, 2008; 11:35 AM ET | Comments (0)

Morning Brief: Washington Area May Slow In 2009

The Washington region has held up despite the recession this year. Next year might not be so easy. The Washington region is expected to end the year with as many as 36,000 more jobs than last year, but analysts are forecasting a much dimmer outlook for next year, saying...

By Alejandro Lazo | December 15, 2008; 11:00 AM ET | Comments (0)

Value Added: On The Christmas Tree Lot

By Thomas Heath I've started a weird ritual on Christmas Eve the last few years. In the early afternoon, I drive to a nursery, check out what's left of the Christmas trees and offer a ridiculously low price, like $10, to take one off their hands. "You can have money...

By Dan Beyers | December 14, 2008; 8:00 PM ET | Comments (2)

 
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