There’s a new king of lobbying

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

Dethroned: Lobbying behemoth Patton Boggs had spent more than a decade as the nation’s largest lobbying firm based on revenue. That streak finally came to an end last quarter. (CAPBIZ)

Silver linings: We’re now three days away from the opening of Metro’s Silver Line, which will connect D.C. to Tysons Corner by rail. Here are the six most important statistics you should know about the community. (CAPBIZ)

Race to the top: A pair of the region’s most well-heeled real estate developers set out four years ago to build strikingly similar new office towers across the street from one another in Rosslyn. One has yet to be built, but most of its space is already leased. The other now towers above the skyline – completely empty. (CAPBIZ)

Marginal improvement: Lockheed Martin’s sales shrank by more than $11 billion in the second quarter compared to the same period last year, yet the company still managed to grow its profits. (CAPBIZ)

Lights out: Reston-based Truland Systems, the D.C. area’s largest electrical contractor, has evidently shuttered without warning, leaving hundreds of employees out of work. (WJLA)

Struck down here: A couple of federal courts have handed down contradictory rulings on a key component of the president’s health care law, posing a serious new threat to the future of the legislation. (WP)

Upheld there: In a separate ruling, a federal judge has thrown out a lawsuit challenging rules that allow lawmakers and their staffers to buy health plans through the law’s new small-business exchanges. (OSB)

Housing rebound: Sales of existing homes hit an eight month-high in June, a sign that the housing market is regaining momentum and the broader economic recovery is accelerating. (REU)

Burger blues: What started as the latest fast-food problems for McDonald’s and Yum! Brands in China has now spread to Japan, with Starbucks and Burger King now embroiled in the scandal, too. (YAH)

Under fire: Barclays and Deutsche Bank have helped hedge funds skirt more than $6 billion in taxes, according to a report due out Tuesday. Executives from both banks will surely be asked that about during a hearing later today. (WP)

On Wall Street

Stocks bounced back on Tuesday, lifted by several solid earnings reports and strong housing data. (Get the latest updates here)

What’s on tap today

MBA purchase applications report (7:30 a.m.)

EIA petroleum status report (10:30 a.m.)

Small Business Network of Vienna meetup (7:30 a.m.)

Gaithersburg-Germantown Chamber of Commerce’ social responsibility workshop (8:00 a.m.)

D.C. Microfinance workshop event (6:00 p.m.)

Help: How to balance making a difference with making a profit (OSB)

Follow: The JBG Cos.

Extra: They want a baby. If only the economy would turn around. (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 · July 22, 2014