LOCAL BRIEFING

Friday, February 8, 2008

executives

Google Chief to Chair Think Tank

The New America Foundation named Eric Schmidt, the chairman and chief executive of Google, as its chairman. His unpaid position begins June 1 at the District think tank, which says its mission is to bring new voices and new ideas to public discourse. Schmidt's election follows the September arrival of Pulitzer Prize-winning journalist Steve Coll as president and chief executive. Coll formerly worked at The Washington Post.

Sallie Mae General Counsel Quits

Sallie Mae general counsel Robert Lavet resigned last week, a spokesman said. Lavet joined the Reston company in 1992. Deputy general counsel Michael Sheehan will lead the legal department until a permanent replacement is found. A company spokesman said the resignation was voluntary and "amicable."

Watson Wyatt Finance Chief to Retire

Watson Wyatt Worldwide, a financial management consultancy based in Arlington, said chief financial officer Carl Mautz plans to retire in August, after completing the financial results for the current fiscal year and the financial plan for fiscal 2009. The company said an internal and external search is underway for Mautz's replacement.

LEGAL

Martek Settlement Wins Preliminary Approval

Martek Biosciences, a Columbia maker of nutritional oils for foods and baby formula, has won preliminary approval to settle a class-action shareholder lawsuit for $6 million without admitting wrongdoing.

U.S. District Judge Marvin J. Garbis in Baltimore scheduled an April 4 hearing for a final decision on the settlement's fairness, according to the law firms for the investors. Garbis gave preliminary approval on Jan. 14. Plaintiffs accused Martek of giving investors false and misleading information about its growth potential.

LOBBYING

BearingPoint Spent $200,000 in 2007

Business consultancy BearingPoint paid Rhoads Group $100,000 in the second half of 2007 to lobby the federal government, according to a disclosure form.

The firm lobbied on military and other appropriations bills, according to the Senate's public records office. The McLean company paid the firm $100,000 in the first six months of 2007 to lobby on the same issues.

CONTRACTING

Lockheed Wins Missile Contract

Lockheed Martin of Bethesda won a $194 million contract from the U.S. Army to build long-range, surface-to-surface missiles of the type used in the invasion of Iraq. Production of the Army Tactical Missile System will take place at company facilities in Dallas and Horizon City, Tex., Lockheed said.

Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.