Bye-bye Old Bay?

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

Missing ingredient? Maryland spice purveyor McCormick & Co. is considering whether to relocate, possibly out of state. That might not go down so well for fans of the iconic seasoning for Maryland crabs. (CAPBIZ)

Competition fizzles: The percentage of Pentagon contract obligations that were competed dropped to 57 percent last year, the lowest in nearly a decade. (WP)

Must pay TV: The Supreme Court delivered a major victory to the nation’s television networks on Wednesday, ruling that an upstart Internet company is violating copyright laws by transmitting programs without paying hefty licensing fees. (WP)

Taxi stand: Drivers in and around downtown D.C. were gridlocked in traffic Wednesday as a caravan of angry taxi drivers made its way  from East Potomac Park to Freedom Plaza — in a protest against app-based ride sharing services such as UberX. (WP)

Checking twice: Nearly three months after the Maryland health exchange decided to ditch its online marketplace for a new Web site, the state’s exchange board has hired a small Greenbelt firm to check its work. (WP)

RIP: The longtime chief executive of the now-defunct electronics retailer Circuit City and co-founder of used-car dealership chain CarMax has died at his home in Richmond. (WP)

On Wall Street

The U.S. stock market inched modestly higher Wednesday, recovering more than half of what it lost the day before, as investors were able to set aside two disappointing economic reports, the Associated Press reported. In a revised estimate, the Commerce Department said the U.S. economy shrank at annual rate of 2.9 percent in the first three months of the year. Two-thirds of the downward revision reflected a decline in health care spending. The Commerce Department also said orders for long-lasting goods sank 1 percent in May as demand for military equipment fell sharply

(Get the latest updates here)

Help: The way we pick experts is often flawed. Here are some ideas for getting it right next time. (WP)

Follow: Smithsonian’s Folklife festival gets underway.

Extra: Meet D.C.’s singing tour guide. (WP)

Dan Beyers is the founding editor of Capital Business, The Washington Post’s go-to source for news about the region’s business community.
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J.D. Harrison · June 25