Early Briefing: No Ground-Breakings

Not a single office building has been started in the District since October.
"Things are frozen. Nobody's doing anything," Gerry Widdicombe, director of economic development for the city's Downtown D.C. Business Improvement District, told reporter Dana Hedgpeth. It is the first time in nine years that there's been such a long period with no ground-breakings, according to the brokerage firm Cushman & Wakefield.

The newly created job of chief information officer will be held by Vivek Kundra, CTO of the District, according to two administration officials, Kim Hart reports. The new post is expected to oversee how government agencies purchase and use information technology and will be in charge of all federal technology spending, as well as making sure networks work together and maintaining security and privacy standards.

Franklin D. Raines, the former chief executive of Fannie Mae, used a special program at mortgage lender Countrywide Financial to receive a below-market rate on a home loan, contrary to sworn testimony he made to Congress in December, according to the top Republican on the House Committee on Oversight and Government Reform.

By Terri Rupar  |  March 5, 2009; 7:30 AM ET  | Category:  Economy Watch , Morning Brief
Previous: Early Briefing: Local Economy Faces Trials | Next: GD, Northrop Announce Job Cuts


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