Archive: January 4, 2009 - January 10, 2009

Morning Brief: Sprint Nextel Cuts Herndon Jobs

Troubles continue to mount at Sprint Nextel. The telecommunications giant said Thursday it will lay off 160 employees from its Herndon operations. The announcement comes amid questions about the success of the company's high-speed Internet technology venture with Clearwire. The layoffs will come from staff at Sprint's building that...

By Alejandro Lazo | January 9, 2009; 9:06 AM ET | Comments (0)

Sallie Mae Raises $1.5 Billion for Private Loans

Reston-based Sallie Mae has secured $1.5 billion worth of financing from investment bank Goldman Sachs for a batch of private student loans, a sign that credit for the frozen student loan markets may be beginning to thaw. The deal is the first transaction to provide funding for the private student...

By Alejandro Lazo | January 8, 2009; 5:17 PM ET | Comments (1)

Morning Brief: Paulson Sees End To Fannie, Freddie

Treasury Secretary Henry M. Paulson, Jr. on Wednesday laid out a vision in which the two local mortgage giants Fannie Mae and Freddie Mac would no longer exist. In his final speech scheduled as Treasury secretary, Paulson proposed replacing mortgage-finance companies with highly regulated utilities that would play a...

By Alejandro Lazo | January 8, 2009; 9:01 AM ET | Comments (2)

Emergent Drops Bid for Protein Sciences

By Alejandro Lazo Emergent BioSolutions of Rockville has dropped a bid to acquire Protein Sciences, the maker of a next-generation flu vaccine that Emergent sought to buy last year in an attempt to diversify. Emergent, a major supplier of an anthrax vaccine to the federal government, in April agreed to...

By Terri Rupar | January 7, 2009; 3:18 PM ET | Comments (0)

Morning Brief: Area Unemployment Rises

More evidence is emerging that the economic downturn is hitting the Washington area. Staff writer V. Dion Haynes reports that unemployment in the Washington region reached its highest level in November since June 2003, inching up to 4.4 percent from 4.1 percent the month before. Overall, though, the region created...

By Alejandro Lazo | January 7, 2009; 8:49 AM ET | Comments (0)

Morning Brief: Housing Bust Hits Condo Buyers

The housing bust is taking its toll on those buyers who put down payments on projects that now stand completed and not fully sold. Staff writers Paul Schwartzman and Renae Merle report on the trials and tribulations of those who put down payments on condominiums at the 550-unit Dumont....

By Alejandro Lazo | January 6, 2009; 9:17 AM ET | Comments (0)

Sandy Spring Gets New CEO

By Alejandro Lazo Sandy Spring National Bancorp has promoted its president and chief revenue officer to chief executive, carrying through with a succession plan intended to keep the Olney-based company independent. Daniel J. Schrider, 44, who started his career with Sandy Spring Bank in 1989 as a commercial lender, was...

By Terri Rupar | January 5, 2009; 4:59 PM ET | Comments (0)

Morning Brief: Mobile Phone Traffic to Spike on Inauguration

With millions expected to flood into the Washington area for the presidential inauguration Jan. 20, wireless carriers are projecting an explosion of cellular phone traffic. Some fear that so many calls, text messages, photos and video clips hitting the airwaves at the same time can choke communication networks and result...

By Alejandro Lazo | January 5, 2009; 9:19 AM ET | Comments (0)

Value Added: The Great Cocktail Hunt

By Thomas Heath My three vices in life (at least the ones I am willing to talk about) are fireworks, cigars and cocktails. And swanky hotels. Oh, and politically incorrect food like foie gras, and heart stoppers like sweetbreads. Butter. Traveling first class. Sharp hats. Okay, so there are a...

By Terri Rupar | January 4, 2009; 8:00 PM ET | Comments (17)

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