The Washington Post

Why Squire Sanders pumped the breaks on Patton Boggs

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

Not so fast: Just when the deal looked all but done, Squire Sanders suspended a vote Thursday morning on a proposed merger with lobbying powerhouse Patton Boggs. It appears a hurdle Patton Boggs thought it had cleared last week isn’t quite resolved yet. (CAPBIZ)

Montgomery move: Mobile System 7, a small Virginia-based cybersecurity firm, will relocate to Bethesda after receiving Montgomery County’s first financial investment under the county’s new cybersecurity investment initiative. (CAPBIZ)

Case hitting the road: Start-up investor and former America Online chairman Steve Case is teaming up with the White House to host pitch competitions this summer in four non-traditional start-up hubs east of the Mississippi. And he will be investing $100,000 at each stop on the tour. (ITC)

Nowhere to hide: Wealthy Americans used to have plenty places to hide their assets from tax collectors — Cayman Islands, Switzerland or Luxembourg. But that’s starting to change, as the federal government looks for new ways to plug holes in the tax system and combat tax evasion. (WP)

Picking up speed: Herndon-based Cox Communications is planning to boost Internet download speeds to 1 gigabit per second – dozens of times faster than typical broadband plans – starting in select cities late this year. Here’s which areas will see the blazing speeds first. (AP)

A word, please: Government officials and members of the federal contracting community are mulling a change to the procurement rulebook that experts say could mean many more contracting opportunities for small businesses. And it all hinges on one word. (OSB)

No regrets: Offered the opportunity to go back in time, five out of six small business owners say they would still start their own company, according to a new poll. Simply being their own bosses and setting their own hours aren’t the only commonly cited perks, either. (NJ)

A deeper cut: Hewlett-Packard Co. is cutting another 11,000 to 16,000 jobs, above a target of 34,000 the company outlined in a multi-year restructuring plan two years ago and presented an outlook that was below expectations. Nonetheless, the company’s top executive says there’s no need to worry. (AP)

Small bounce: Sales of existing U.S. homes rebounded slightly in April, elevated by gains in the volatile condominium market. However, the pace of buying remains below last year’s level. (WP)

On Wall Street

Stocks jumped out to a fast start on Thursday and then held their gains, elevated by some above-average economic data in both the U.S. and China. (Get the latest updates here)

What’s on tap today

New home sales (10:00 a.m.)

Department of Energy’s ChallengeHER women-owned small business event (8:00 a.m.)

Baraka Marketing’s social media and e-mail for business seminar (9:00 a.m.)

Help: How your company can avoid a summertime dip in productivity (ENT)

Follow: Mobile System 7, Montgomery County’s newest tenant.

Extra: Staying in town this weekend? We’ve got you covered. (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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