The Washington Post

Clock is ticking on D.C. United’s new soccer stadium

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

Clock winding down: Nearly 10 months after announcing a tentative deal to build a new 20,000-seat soccer stadium, District officials and D.C. United executives have nearly finalized an agreement, according to sources familiar with the discussions. Still, the deal faces a number of political hurdles and a frenzied time frame if it is to be approved by the D.C. Council before Gray leaves office at the end of the year. (CAPBIZ)

Courting retailers: Speaking of Gray, the mayor and Prince George’s County Executive Rushern L. Baker III are spending some time in Las Vegas this week, trying to lure some big-name retailers to Washington. (CAPBIZ)

Deal declined: British drug maker AstraZeneca (parent of Montgomery County-based MedImmune) on Monday rejected the raised $119 billion takeover offer from U.S. pharmaceutical giant Pfizer. But the deal doesn’t appear dead yet. (WP)

Coming for Amazon: Local resident Pascal Tessier, 17, emerged last year as the young face of the movement for equal treatment of gays and lesbians within Boy Scouts of America. Now, the Eagle Scout is taking his cause to the world’s largest online retailer – Amazon. (CAPBIZ)

Metro’s moment: After years of construction work plagued by delays, Metro plans to assume control next week of the Silver Line project from the builder. The hand-off will be followed by 90 days of testing, possibly leading to the start of passenger service before summer’s end. (WP)

Temporary relief: Slowly but surely, the nation’s labor market is rebounding. However, a growing number of part-time and “contract” workers are filling many of the new jobs that are being created – and that has economists worried. (AP)

On Wall Street

Stocks ended higher after a choppy day on Wall Street, with investors still cautious amid muddy economic reports of late. (Get the latest updates here)

What’s on tap today

Arlington Chamber of Commerce’s Best Business Awards (7:30 a.m.)

ICSC-Goldman Store Sales report (7:45 a.m.)

D.C. Tech in Motion networking event (6:00 p.m.)

TechAmerica’s 2014 American Technology Awards ceremony (7:00 p.m.)

Help: How to develop a viable product that can attract funding (CAPBIZ)

Follow: Erick Thohir, D.C. United majority owner

Extra: It’s the government’s most expensive job-training program. But does it work? Well… (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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J.D. Harrison · May 19, 2014