If you build it, will they really come?

Welcome to CapBiz A.M., your morning primer on the day’s business news with a focus on Washington.

No tenants, no worries: Despite a sluggish office market, several developers have decided recently to begin work on high-end office buildings in D.C., even before they have received commitments from prospective tenants. Three new projects are in the works right now, and each shares one suddenly ubiquitous trait among new buildings in Washington…lots of windows. (CAP)

Heading out, moving up: Longtime Danaher Corp. CEO H. Lawrence Culp, Jr., who guided the company to exponential growth during his 13 tenure at the helm, plans to retire next March. He is to be replaced by a 25-year veteran of the company, who started as a marketing project manager way back in 1989. (CAP)

Marginal improvement: McLean-based Capital One Financial’s revenues slipped 3 percent during the first quarter of the year, according to earnings reported Wednesday. Nevertheless, the company managed to grow profits by 9.3 percent – and that says something about how the company sees the current lending environment. (CAP)

Burritos behind bars: District Mayor Vincent Gray is taking steps to re-establish criminal penalties for food truck vendors who sell without a permit; rules that were accidentally left out when new vending regulations were approved last June. Food truck operators could now face fines of up to $300 and several months in jail for violations. (WBJ)

Orbital’s latest oops: Dulles-based Orbital Sciences Corp. will lose more than $13 million in incentive pay over the next 15 years due to problems with one of its newly launched commercial communication satellites. And this isn’t the first time the company has suffered this type of mishap (WBJ)

Big moves by big boxes: Target on Wednesday announced plans to expand ten-fold the goods available to order under its new subscription shopping service, looking to fend off competition from Amazon. Meanwhile, Wal-Mart is rolling out a new service allowing customers to transfer funds from one store to another. (WP)

An economy in bloom: New claims for unemployment benefits remain near per-recession levels, coming in under economists’ forecasts on Wednesday. And manufacturing in the Mid-Atlantic region accelerated in April, providing yet more indication that the economy is bouncing back after a tough winter. (REU)

On Wall Street

Stocks were up again today, buoyed by strong earnings from the likes of Morgan Stanley and General Electric. The S&P 500 is enjoying its best week since July. (Get the latest updates here)

What’s on tap today

Markets closed today

Awesome Con 2014 kicks off at the Convention Center (3:00 p.m.)

Sustainable Urban Planning symposium, George Washington University (2:30 p.m.)

Help: How to develop millennials into managers (ENT)

Follow: Jonathon Perrelli, founder of Fortify Ventures in D.C.

Extra: Need something to do this weekend? Here’s your guide. (WP)

J.D. Harrison covers startups, small business and entrepreneurship, with a focus on public policy, and he runs the On Small Business blog.
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Steven Overly · April 18