Morning Brief: Economic Stimulus Helps Locally
The economic stimulus bill facing a vote in Congress would provide enough money to modernize more than 300 schools in the District, Maryland and Virginia and would boost unemployment benefits to more than half a million people, staff writers Mary Beth Sheridan and Michael Laris report.
The Obama administration predicted that the bill would create or save 66,000 jobs in the next two years in Maryland, 12,000 in the District and 93,000 in Virginia. But Sheridan and Laris report that some economists believe the administration's figures are too optimistic and cautioned that it was hard to predict exactly how the stimulus package would translate into jobs.
Real estate mogul and co-owner of the D.C. United soccer team Victor MacFarlane said yesterday that he is committed to moving the team to Prince George's County after the unraveling of a development deal to build a stadium at Poplar Point in the District.
Marriott International reported yesterday a fourth-quarter loss of $10 million, a dramatic reversal from the $236 million profit from continuing operations that was reported in the same period a year ago, and a symbol of how the nation's economic crisis is battering one of the world's largest hotel companies.
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