Archive: March 22, 2009 - March 28, 2009

Area Unemployment Rose in February

The District, Maryland and Virginia continued shedding jobs at a rapid pace in February, according to government data released this morning, with D.C.'s unemployment rate rising to nearly 10 percent. While a steady federal government workforce has largely shielded the area from massive private-sector job losses seen across the country,...

By Terri Rupar | March 27, 2009; 12:21 PM ET | Comments (0)

Early Briefing: Freddie's Revelations

Half a year after the government seized Freddie Mac, confusion about its role is stoking tensions between the company and its regulator, including a dispute this month over how much the mortgage giant should reveal to private investors about its financial troubles, Zachary Goldfarb reports. Federal officials who took over...

By Terri Rupar | March 27, 2009; 7:30 AM ET | Comments (0)

Slowdown Hurting Architects

An index indicating architects' workload did not hit a historic low last month, as it did the four previous months, but it still indicated a contraction in the industry. The American Institute of Architects' billings index was at 35.3 (a score above 50 indicates an increase in billings), up from...

By Terri Rupar | March 26, 2009; 2:12 PM ET | Comments (0)

Early Briefing: Interest in Government Work

The lines for the CIA were out the door at the spring career fair last week at George Mason University in Fairfax, and the Environmental Protection Agency and various Defense Department booths were doing booming business as well. Two months after President Obama took office vowing to make federal service...

By Terri Rupar | March 26, 2009; 7:30 AM ET | Comments (0)

Chairman Sees Substantial Losses at Post in 2009

The Washington Post will follow a money-losing 2008 by losing "substantial money" in 2009 and will continue to cut costs, Post Co. Chairman Donald E. Graham said in a letter to shareholders atop the company's annual report released today. The Post Co. newspaper division -- which is dominated by the...

By Terri Rupar | March 25, 2009; 1:30 PM ET | Comments (0)

Early Briefing: Opposition to Expanding Unemployment in Va.

A group of Republican lawmakers and officials with the Virginia Chamber of Commerce said expanding unemployment benefits to receive $125 million in federal stimulus funding would mean higher taxes for businesses once the stimulus money is exhausted. Virginia, which recorded a 6.4 percent unemployment rate in January, is already eligible...

By Terri Rupar | March 25, 2009; 7:30 AM ET | Comments (0)

Early Briefing: BearingPoint Nearing an End?

, reports MIchael Rosenwald. The company, which is in bankruptcy protection, last night said it reached a deal with parties including PricewaterhouseCoopers and Deloitte -- to sell "substantially all of its businesses." Deloitte is buying a "significant portion" of the public services business for $350 million, and Pricewaterhouse is buying...

By Terri Rupar | March 24, 2009; 7:30 AM ET | Comments (0)

Early Briefing: Struggles in Biotech

Rockville-based Human Genome Sciences got a drubbing on Wall Street earlier this month after results for of a study of hepatitis C drug Albuferon. The difficulties the company faces are replicated throughout the pharmaceutical and biotech industries, which are under increasing pressure to garner huge profits from their drug treatments...

By Terri Rupar | March 23, 2009; 12:07 AM ET | Comments (0)

Value Added: Reinvention In A Downturn

By Thomas Heath Great American companies are under stress and cutting dividends. General Motors is openly discussing bankruptcy. Another General, this one Electric, slashed its dividend. Venerable Goldman Sachs has morphed into a commercial bank and took government bailout money. Remember the legendary Lehman Brothers? Bear Stearns? Wachovia? They were...

By Dan Beyers | March 22, 2009; 8:00 PM ET | Comments (24)

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