Video killed the… bank teller?

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

Telling tellers goodbye: As banks shutter branches to cut costs, video tellers have emerged as a less expensive way for them to provide face-to-face services to customers, and they’re starting to pop up in the D.C. region. Community banks and credit unions are finding them particularly effective as they look to establish a presence in new areas. (CAP)

Stuck in neutral: Washington area employers posted another dismal month on the hiring front, according to data released Friday by the Labor Department. Maryland added a modest 2,300 jobs, while the District managed at least not to lose any ground. That’s more than you can say for Virginia. (CAP)

An unemployment trap: New research tracking people who have been out of work for six months or longer found that 23 percent landed a job within a few months of the study. But a year later, more than a third of that group was unemployed again – or out of the labor force altogether. (WP)

Still waiting for that recovery: Congress finally locked in a budget last year. So why hasn’t business bounced back for government contractors? Some say the way lawmakers balanced the budget, as well as a number of new threats around the world, have slowed the recovery. (CAP)

College teamwork: Arlington-based LiveSafe, which makes public safety software for college campuses, has struck a deal with District education technology company Blackboard, which will now start peddling LiveSafe’s software alongside its own security products to 500 schools across North America. (CAP)

A remedy for D.C.’s bad jeans: Local entrepreneur Jo Akin says the Washington region has fallen “behind other big cities when it comes to contemporary fashion.” Her new boutique in Fulton aims to fix that, one pair of designer jeans at a time. (CAP)

Crafty hackers: Michaels, the craft store chain that confirmed a data breach earlier this year, said nearly 3 million customers’ information were stolen from its point-of-sale system using “highly sophisticated malware.” Some of those customers were shoppers at D.C. area stores. (WP)

CBS Radio on the move: On Monday, D.C. Mayor Vincent Gray plans to announce that CBS Radio has reached a deal to move its local headquarters from Lanham to the Capital Riverfront. (WBJ)

On Wall Street

Stocks climbed during a holiday-shortened week, with the S&P 500 posting its biggest weekly bump since July. Earnings season kicks into full gear this week, with investors keeping a close eye on the likes of Apple, Microsoft and McDonald’s. (Get the latest updates here)

What’s on tap today

Chicago Fed report (8:30 a.m.)

Conference board index (10 a.m.)

AmeriCorps VISTA professional networking event (3:00 p.m.)

Appointments: A list at the latest movers and shakers in the D.C. area

Help: How to succeed in small business – a comprehensive guide (OSB)

Follow: Jenny Abramson, CEO of LiveSafe

Extra: Hey Washingtonians, do you know what time zone you’re in right now? (WP)

J.D. Harrison covers startups, small business and entrepreneurship, with a focus on public policy, and he runs the On Small Business blog.
Comments
Show Comments
Most Read
Next Story
J.D. Harrison · April 20