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  • MarketFoolery: 08.15.2012

    Local investors pull money out of China's stock market.  Shares of Staples plunge after the retailer reports weaker-than-expected earnings.  And Netflix expands to Scandinavia.

  • MarketFoolery: 08.14.2012

    Germany reports better-than-expected GDP growth.  Shares of Home Depot rise on strong earnings.  And shares of Groupon plunge on lower-than-expected revenue.

  • MarketFoolery: 08.13.2012

    Google cuts 20% of its Motorola Mobility workforce.  Barnes and Noble cuts prices of its Nook e-reader and tablet. And Pfizer files plans for an IPO of its animal health business.

Posted at 03:50 PM ET, 08/13/2012

Beverley Swaim-Staley, former Maryland transportation secretary, to head Union Station Redevelopment Corp.

Beverley Swaim-Staley will become the new president of the Union Station Redevelopment Corp. the organization announced Monday, putting her in charge of a long-term effort to expand Union Station.

Swaim-Staley departed as Maryland Gov. Martin O’Malley’s secretary of transportation last month after working at the state for more than 25 years. At the redevelopment corporation, a nonprofit organization created by Congress to oversee the station, she replaces David S. Ball, who announced his resignation from the organization in late July.

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By  |  03:50 PM ET, 08/13/2012 |  Permalink  |  Comments ( 0)
Tags:  Beverley Swaim-Staley, Martin O'Malley, John Porcari, Union Station, Amtrak, Department of Transportation

Posted at 04:33 PM ET, 08/07/2012

OMB seeks to dismiss lawsuit that says agency withheld information about unused federal buildings

The Office of Management and Budget is asking a federal judge to throw out a lawsuit that accuses the agency of improperly withholding information about unused federal buildings that could be used to house services for the homeless.

OMB was sued in June by the National Law Center on Homelessness and Poverty (NLCHP), a D.C. legal nonprofit that represents the interests of homeless people. In the lawsuit, attorneys for the NLCHP alleged OMB refused to disclose full documents about surplus or unused properties owned by the federal government, and indicated there may be many properties that have gone unreported.

Lawyers for OMB filed a response to the lawsuit in federal court Monday, saying no records have been improperly withheld and asking the court to dismiss the complaint. OMB is represented by lawyers in the Civil Division of the Department of Justice. A spokesman for the division declined to provide additional comment Tuesday.

Under federal law (Title V of the McKinney-Vento Act), unused, underutilized or surplus properties owned by the government that are deemed suitable for the homeless must be listed in the Federal Register, and providers of homeless services can apply to lease the properties at no charge to run shelters, health clinics, soup kitchens and other services. Homeless services providers have an interest in obtaining those properties primarily because of cost — many providers are nonprofits and struggle to buy or rent real estate to operate services.

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By  |  04:33 PM ET, 08/07/2012 |  Permalink  |  Comments ( 0)

Posted at 03:18 PM ET, 08/07/2012

Shake Shack coming to International Spy Museum next year


Shake Shack's hamburger and french fries in Washington, D.C. (Marvin Joseph - WASHINGTON POST)
The “flat-top” dogs, burgers, frozen custard and loooooong lunchtime lines of Shake Shack will be coming to the International Spy Museum in mid-2013.

The New York fast food outfit, part of restaurateur Danny Meyer’s Union Square Hospitality Group, announced Tuesday that it would open its third location in Washington at the museum, at 800 F Street NW in space that Zola previously occupied.

The new location — rumored last month — will open roughly two years after Shake Shack first entered Washington with its Dupont Circle location, which opened in 2011. Shake Shack is also available at Nationals Park during ball games.

“We’ve been amazed by the warm reception we’ve been given over the past year, and our team is proud to grow our roots even deeper in the Washington community,” said Randy Garutti, Shake Shack chief executive.

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By  |  03:18 PM ET, 08/07/2012 |  Permalink  |  Comments ( 0)
Tags:  Shake Shack, International Spy Museum, Dupont Circle, Nationals Park

Posted at 07:33 PM ET, 08/01/2012

Preservationists begin to weigh in on Union Station

Union Station has played a role in more than a couple of Washington’s most storied moments, from FDR welcoming the future Queen Elizabeth II there in 1939 to the Beatles’ arrival in 1964 to play their first show in North America.

Now preservationists are beginning to weigh in on Amtrak’s $7 billion master plan for the station, which could triple passenger capacity there over the next 20 years.

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By  |  07:33 PM ET, 08/01/2012 |  Permalink  |  Comments ( 0)
Tags:  Union Station, historic preservation, Amtrak, Akridge

Posted at 11:33 AM ET, 08/01/2012

Pick your pitch: Which business plan has the most promise?

Ten local entrepreneurs are vying for a cash prize in the StartRight business plan competition, an annual contest organized by Rockville Economic Development. The business ideas this year range from selling goods crafted in Kenya to monitoring milk’s drinkability with color-changing cartons. So which plan has the most promise? Watch the videos below and cast your vote. The winners will be announced later this month.

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By  |  11:33 AM ET, 08/01/2012 |  Permalink  |  Comments ( 0)

 

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