Tuesday, April 29, 2008
HEALTH CARE
CareFirst Chief's Severance Questioned
A lawyer for CareFirst BlueCross BlueShield said the Maryland Insurance Administration would put the company's management "at risk" if the agency rejects the $17.6 million retirement and severance package promised to former chief executive William Jews.
Maryland Insurance Commissioner Ralph Tyler is holding a hearing to determine whether the severance package is a fair and reasonable use of the company's assets.
MERGERS & ACQUISITIONSLockheed to Buy Eagle Group
Lockheed Martin of Bethesda has agreed to buy Eagle Group International, an Atlanta company that provides logistics, information technology, training and health-care services to the Defense Department.
The transaction excludes all obligations associated with Eagle Group's Potomac Job Corps contract with the Labor Department. Other terms were not disclosed. The deal is slated to close in the second quarter.
Potomac College Bought OutHamilton White Group, a New York investment and advisory firm, acquired District-based Potomac College for an undisclosed amount. Potomac College's curriculum is tailored for working adults, and it offers Bachelor of Science and Associate of Science degree programs, as well as certificate programs.
LABORWorkers Protest Carlyle Official's Speech
About 60 union workers protested a speech by the managing director of District-based Carlyle Group to the Society of American Business Editors and Writers in Baltimore.
The workers were from the Manor Care chain of nursing homes, which was bought out by Carlyle in December, said Julie Eisenhardt, a spokeswoman for the Service Employees International Union.
Carlyle co-founder David Rubenstein has said that SEIU seeks to represent workers who don't want that representation and that Carlyle has good relationships with various unions. SEIU sought to block the Manor Care deal, arguing that staffing levels and patient care would suffer under a private-equity firm.
CORPORATE GOVERNANCECapital One Names Director
Bradford H. Warner, former president of premier and small-business banking at Bank of America, was appointed to Capital One's board of directors. Warner will join the McLean company's audit and risk committee and the finance and trust oversight committee.
CONTRACTINGCACI Wins Army Night-Vision Work
Arlington-based information-technology services company CACI International said it won two task orders totaling $36 million to support an Army program involving night vision.
The contracts are for two years each and will support the Army's Night Vision and Electronic Sensors Directorate, based at Fort Belvoir.
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.
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