washingtonpost.com - Metro Business

Marketing Moves to the Blogosphere

Sarah Halzack — Mon, 25 Aug 2008 00:00:00 EDT

Jason Calacanis, who got into blogging early and big, has quit.

Rejected Muslim Sect Keeps Faith

Jacqueline L. Salmon — Sat, 30 Aug 2008 00:00:00 EDT

When Walkersville blocked a Muslim sect's plans to build a worship center in town, the rejection only added insult to injury for a community that has faced hostility and violence throughout the world.

The Luck of the Landlords

Christopher Twarowski — Sat, 30 Aug 2008 00:00:00 EDT

The slumping housing market hit Teresa Walsh hard. Seeking a better life for her two daughters, Walsh put her house in Menlo Park, Calif., on the market and moved to Bethesda.

Taylorstown's Still-Rural Radius

M.J. McAteer — Sat, 30 Aug 2008 00:00:00 EDT

People who live in Taylorstown have made their choices: scenery over shopping, deer over drive-throughs.

Liberty Tower Makes It Easy to Get to Work, Play

Ruben Castaneda — Sat, 30 Aug 2008 00:00:00 EDT

Fernando Rodriguez loves the view of the Washington Monument and the Capitol dome from his apartment on the 13th floor of Liberty Tower in Arlington.

Maryland May Face $1 Billion Shortfall

John Wagner — Fri, 29 Aug 2008 00:00:00 EDT

Maryland could face a budget shortfall of up to $1 billion in its next fiscal year despite a series of tax increases and spending reductions that were intended to largely solve the state's chronic fiscal problems.

To Investors, Freddie's Cushion Was Thin

David S. Hilzenrath — Fri, 29 Aug 2008 00:00:00 EDT

Freddie Mac, which has lost more than 90 percent of its stock value since last fall, has repeatedly tried to dampen talk of a government bailout by highlighting the amount of capital it has on hand to weather problems.

Tanker Bid Moves Toward Endgame

Dana Hedgpeth — Fri, 29 Aug 2008 00:00:00 EDT

Score another one for Boeing. The defense and aerospace giant has been clawing its way back into the competition to build a new generation of aerial refueling planes for the Air Force in an unusually public way. After losing the recent Air Force decision to award the $40 billion program to rival...

Stocks jump on better-than-expected GDP, jobs data

TIM PARADIS — Thu, 28 Aug 2008 18:03:16 EDT

NEW YORK -- Wall Street barreled higher Thursday after a better-than-expected reading on the gross domestic product and a drop in jobless claims gave investors some reassurance that the economy is holding up. The Dow Jones industrial average jumped more than 200 points.

Strong GDP data, weak oil spark Wall St rally

Steven C. Johnson — Thu, 28 Aug 2008 17:12:29 EDT

NEW YORK (Reuters) - U.S. stocks rose sharply on Thursday as the government reported the economy grew at a surprisingly robust clip in the second quarter and oil prices eased, driving gains in major industrial and financial companies.

Stocks jump on better-than-expected GDP, jobs data

TIM PARADIS — Thu, 28 Aug 2008 17:02:50 EDT

Fannie Mae shakes up management team

ALAN ZIBEL — Thu, 28 Aug 2008 02:59:32 EDT

WASHINGTON -- Mortgage finance giant Fannie Mae shook up its executive ranks Wednesday, after shares in it and sibling company Freddie Mac rose for a third straight day as investors appeared less certain a government bailout of the two troubled companies is imminent.

Fannie Shuffles Its Top Leaders

Zachary A. Goldfarb — Thu, 28 Aug 2008 00:00:00 EDT

Struggling mortgage giant Fannie Mae shook up its senior management yesterday, announcing the departure of its chief financial officer and two other top executives.

Liquor Store Owner Plans to Boycott Russian Vodka

Stephen Lowman — Thu, 28 Aug 2008 00:00:00 EDT

Traditional vodka is a neutral spirit: Colorless and odorless, it mixes well. With 51.2 million nine-liter cases of it sold in the United States last year, according to the Distilled Spirits Council, it is also the most popular distilled beverage.

In Manassas, The 3 R's Add Up to a Fourth: Rudimentary

Jennifer Buske — Thu, 28 Aug 2008 00:00:00 EDT

Reading, writing and arithmetic are still the fundamental building blocks of education, but these days, they have some competition as educators reevaluate curriculum and prepare students for life in the 21st century.

Virginia Foreclosures Nearly Triple in a Year

Kristen Mack — Thu, 28 Aug 2008 00:00:00 EDT

Foreclosures in Virginia nearly tripled last month compared with July '07, with Northern Virginia accounting for more than half of the foreclosures.

Calvert Approves Golf Course Purchase

Christy Goodman — Thu, 28 Aug 2008 00:00:00 EDT

Calvert County commissioners narrowly approved the $3.65 million purchase of Chesapeake Hills Golf Course in Lusby on Tuesday.

Three Fannie Mae execs out, shares rally earlier

Al Yoon — Wed, 27 Aug 2008 18:32:44 EDT

NEW YORK (Reuters) - Fannie Mae , the biggest U.S. mortgage finance company, on Wednesday announced a shake-up of top executives, including the exit of its chief financial officer, in an effort to better implement a plan to preserve capital and cut losses.

Stocks rise following gain in durable goods orders

TIM PARADIS — Wed, 27 Aug 2008 18:08:04 EDT

NEW YORK -- Wall Street posted a sizable advance Wednesday after the government reported a larger-than-expected increase in orders for big-ticket manufactured goods that indicated the economy could be stronger than some investors thought.

Strong data, financials drive stocks higher

Steven C. Johnson — Wed, 27 Aug 2008 16:35:40 EDT

NEW YORK (Reuters) - Stocks rose on Wednesday as surprisingly strong data on durable goods orders soothed some concern about the sluggish economy while Fannie Mae and Freddie Mac led a rally in financial shares.

Brutal Budget Season For N.Va.

Amy Gardner — Wed, 27 Aug 2008 00:00:00 EDT

Falling property values, rising fuel costs and stagnant sales tax receipts are pushing Fairfax County and other local governments to their worst budget crunch in nearly two decades, just as the new fiscal season gets underway.

New Jersey governor wants larger gov't role for Fannie

Corbett B. Daly — Tue, 26 Aug 2008 23:55:52 EDT

DENVER (Reuters) - The U.S. government should eliminate the hybrid structure of mortgage giants Fannie Mae and Freddie Mac and fully back them with taxpayer funds, New Jersey Gov. Jon Corzine said on Tuesday on the sidelines of the Democratic National Convention.

Novavax Moves Closer to Licensing Bird Flu Vaccine

Kendra Marr — Wed, 27 Aug 2008 00:00:00 EDT

Novavax said yesterday that its bird flu vaccine elicited a robust immune response in humans, moving the biotech a step closer to licensing its pandemic vaccine production system.

Comstock's Defaults Darken Its Future

Alejandro Lazo — Wed, 27 Aug 2008 00:00:00 EDT

Comstock Homebuilding of Reston has defaulted on several development loans the company used to finance its projects during the years of the housing boom.

Fannie Mae, Freddie Mac shares climb

MARCY GORDON — Tue, 26 Aug 2008 13:51:20 EDT

WASHINGTON -- Shares of Fannie Mae and Freddie Mac climbed for a second day Tuesday amid expectations in some Wall Street quarters that the mortgage finance giants will be able to weather the housing storm without a government rescue.

Democrats Harnessing Momentum for N.Va. Seat

Amy Gardner — Tue, 26 Aug 2008 00:00:00 EDT

In Northern Virginia's 11th Congressional District race, Democrats are aiming to extend recent gains while Republicans hope a wealthy businessman who is already advertising on television can help the party hang on to a seat held for seven terms by retiring Rep. Tom Davis.

Reinventing the Mobile Home in a Changing Market

Sandhya Somashekhar — Tue, 26 Aug 2008 00:00:00 EDT

Vanessa and Jim Graziano walked appreciatively around the small Loudoun County house decorated in tasteful beige and ocher furnishings. Wine bottles sat enticingly on the granitelike countertops. A spacious wooden porch framed the front door.

Volatility Takes Its Toll on Wall St.

Heather Landy — Tue, 26 Aug 2008 00:00:00 EDT

NEW YORK, Aug. 26 -- U.S. stocks got off to a rocky start this week as concerns about weakness in the housing market and volatility in oil prices continued to gnaw at investors.

Fannie Mae, Freddie Mac shares rise

MARCY GORDON and ALAN ZIBEL — Mon, 25 Aug 2008 17:14:20 EDT

WASHINGTON -- Shares of Fannie Mae and Freddie Mac soared Monday in a respite from their battering in recent days, while some regional banks saw their stocks sink on worries they could be swept up in the turmoil surrounding the mortgage finance giants.

Freddie debt sale eases concerns of nationalization

Al Yoon — Mon, 25 Aug 2008 16:59:08 EDT

NEW YORK (Reuters) - U.S. mortgage finance company Freddie Mac easily sold $2 billion of short-term debt on Monday, helping to reassure investors that both Freddie Mac and Fannie Mae can fund operations without a government bailout.

Financial worries drive Wall Street down 2 percent

Steven C. Johnson — Mon, 25 Aug 2008 16:20:10 EDT

NEW YORK (Reuters) - U.S. stocks fell sharply on Monday as credit concerns hounded financial stocks while global growth worries hurt big technology and industrial companies.

Gross, Fuss say any new GSE deal needs Treasury

Jennifer Ablan — Mon, 25 Aug 2008 14:42:45 EDT

NEW YORK (Reuters) - Two of the biggest U.S. bond investors said they would get involved in a capital raising by Fannie Mae and Freddie Mac as long as the U.S. Treasury participates in the new deals.

Developing Dissonance

Ann E. Marimow — Mon, 25 Aug 2008 00:00:00 EDT

If any family can be considered the founding family of Silver Spring, it is the Lees.

Money Spent vs. Time Saved Debated for HOT Lanes

Eric M. Weiss — Mon, 25 Aug 2008 00:00:00 EDT

How much is your time worth? Would you pay $20 to save 13 minutes on your morning Capital Beltway commute from Springfield to Tysons Corner? Builders of new high-occupancy toll (HOT) lanes on the Beltway are betting $2 billion that there are enough drivers in the Washington region willing to pay ...

Sharing Unused Airwaves

Zachary A. Goldfarb — Mon, 25 Aug 2008 00:00:00 EDT

An engineer, Mark A. McHenry litters his speech with dizzying terms like gigahertz and cognitive radio. But on one topic in the national news he is plain-spoken: the claim by the broadcast networks, the NBCs and CBSs of the world, that a new technology to provide Internet service over the air will...

Business Gets Personal Online

Zachary A. Goldfarb — Mon, 25 Aug 2008 00:00:00 EDT

TechPost, which looks at people and ideas driving the local technology industry, runs Friday on the WashBiz Blog, at http://washingtonpost.com/washbizblog .

Many Trees Do Not Grow in Brookland

Elissa Silverman — Sun, 24 Aug 2008 00:00:00 EDT

An invisible line divides the Washington region, and it has to do with power.

A Gateway Or Obstacle To Reviving Baltimore?

Dan Morse — Sun, 24 Aug 2008 00:00:00 EDT

This report is the last in a series on the five potential locations for slot machine gambling in Maryland.

Montgomery Animal Shelter's Chief Executive Steps Down

Philip Rucker — Sun, 24 Aug 2008 00:00:00 EDT

The Montgomery County Humane Society's chief executive this month became the latest leader to resign amid infighting and questions about the animal shelter's finances and its reporting of adoption and euthanasia rates.

When Cutting the Price, Take a Big Bite, Not a Bunch of Nibbles

Elizabeth Razzi — Sun, 24 Aug 2008 00:00:00 EDT

Cutting the price to get your home sold isn't quite as simple as it seems.

In Abandoned Homes, The Remnants of a Life

Ben Hubbard — Sun, 24 Aug 2008 00:00:00 EDT

Matt Paxton didn't know who used to live at 4404 Eames Lane in Dale City, but he could gather some clues from what was left behind. "El Salvador" was scrawled in black marker on a dirty mattress. There was a partially built shed in the back yard.

Businesses Find Room To Grow In County

Jennifer Buske — Sun, 24 Aug 2008 00:00:00 EDT

James Bounds said he saw something special in Prince William County almost 10 years ago.

Development Draws Fire In Calvert

Christy Goodman — Sun, 24 Aug 2008 00:00:00 EDT

Some Dunkirk residents are fighting what they fear will be an environmental and public health threat to their neighborhood.

Wall Street bailout aid questioned at Fed event

JEANNINE AVERSA — Sat, 23 Aug 2008 15:37:56 EDT

JACKSON, Wyo. -- Do Washington policymakers listen too much to Wall Street? A possible bailout of Fannie Mae and Freddie Mac, on the heels of similar action involving investment firm Bear Stearns, seems to send a loud signal to financial companies that the government will clean up their messes.

In Abandoned Homes, The Remnants of a Life

Ben Hubbard — Sun, 24 Aug 2008 11:01:00 EDT

Matt Paxton didn't know who used to live at 4404 Eames Ln. in Dale City, but he could gather some clues from what was left behind. "El Salvador" was scrawled in black marker on a dirty mattress. There was a partially built shed in the back yard.

Flextime Has Green Appeal And Lures Younger Workers

Lori Aratani — Sat, 23 Aug 2008 00:00:00 EDT

They have replaced incandescent light bulbs with compact fluorescents, cut the number of cars in their fleets and embraced hybrids. They have planted native grasses to cut down on lawn maintenance and, with it, fuel consumption. Now a growing number of businesses and state and local governments from...

For Most Local Politicians, There's One Place Called Home

Petula Dvorak — Sat, 23 Aug 2008 00:00:00 EDT

Keeping track of one's personal assets when one is a very busy elected official can be difficult.

Frequent Fliers' Wings Are Clipped

Sholnn Freeman — Sat, 23 Aug 2008 00:00:00 EDT

Scott Zaban only flies United Airlines. As a loyal frequent flier, the 33-year-old writer from Northwest Washington is used to being pampered with seat upgrades and ticket awards.

Coming Up With the Cash

Renae Merle — Sat, 23 Aug 2008 00:00:00 EDT

Not so long ago, Qiana Parker wouldn't have had to give up her apartment or curtail her shoe-buying habit to save for a down payment on a house.

Appraisal Problems Worsened Meltdown

Mitch Weiss — Sat, 23 Aug 2008 00:00:00 EDT

CHARLOTTE, N.C. -- As soaring home prices set the stage for America's great housing meltdown, a critical step in making sure those home sales were a fair deal -- the real estate appraisal -- was undermined from within.

Neighbors, Boats, Bayfront Summers And a Reverence For Tradition

Ann Cameron Siegal — Sat, 23 Aug 2008 00:00:00 EDT

Owings Beach is still cozy. There are still snug cottages, built in the 1920s for summer getaways to the bayside enclave in the Deale portion of southern Anne Arundel County. Narrow streets bearing local family names are still walkable because deep ditches and tight turns discourage traffic. Even...

Stocks jump on falling oil, inflation forecast

TIM PARADIS — Fri, 22 Aug 2008 17:55:15 EDT

NEW YORK -- Wall Street capped a volatile week with sharp gains Friday as oil prices tumbled and after Federal Reserve Chairman Ben Bernanke said inflation pressures are likely to moderate. The Dow Jones industrial average rose nearly 200 points.

Buffett says economy's troubles will continue

JOSH FUNK — Fri, 22 Aug 2008 16:49:19 EDT

OMAHA, Neb. -- Billionaire investor Warren Buffett said Friday the economy continues to be in a recession, by his definition, and will continue to be for at least several more months.

Lehman's jump, oil's plunge drives Wall St rally

Steven C. Johnson — Fri, 22 Aug 2008 16:33:47 EDT

NEW YORK (Reuters) - U.S. stocks rallied on Friday to score their best daily gain in two weeks as hopes that Lehman Brothers may attract a major investor lifted financial stocks while a plunge in oil prices soothed worries about inflation and consumer spending.

Moody's ratings cut latest blow to Fannie, Freddie

Lynn Adler — Fri, 22 Aug 2008 16:12:52 EDT

NEW YORK (Reuters) - A major credit rating agency cut the preferred share rating on Fannie Mae and Freddie Mac amid mounting concern about the ability of the two largest U.S. home funding providers to access capital, in the latest blow before a widely expected government bailout.

Boeing weighs exiting $35B tanker competition

DONNA BORAK — Fri, 22 Aug 2008 13:30:54 EDT

WASHINGTON -- Boeing Co. is considering bailing out of a politically charged competition for a $35 billion contract to build aerial refueling tankers for the Air Force, if it does not receive an additional four months from the Pentagon to assemble its offer.

Freddie Mac courts investors, Buffett passes

J.W. ELPHINSTONE — Fri, 22 Aug 2008 13:20:46 EDT

NEW YORK -- Freddie Mac talked to investors this week about possibly buying its stock to raise much-needed capital but billionaire investor Warren Buffett said he passed on an opportunity to help the troubled mortgage giant.

Buffett sees economy weak until 2009

Jonathan Stempel — Fri, 22 Aug 2008 11:10:43 EDT

NEW YORK (Reuters) - Warren Buffett said the economy is still in a recession and unlikely to improve before 2009 but that stocks appear better valued than a year ago.

Markets await Bernanke as central bankers gather

Alister Bull — Fri, 22 Aug 2008 09:47:14 EDT

JACKSON HOLE, Wyoming (Reuters) - Federal Reserve Chairman Ben Bernanke tackles financial stability in a key speech on Friday but economists doubt he will provide solid clues about future policy action to calm the credit crunch.

Wind Power's Energetic Fans

Megan Greenwell — Fri, 22 Aug 2008 00:00:00 EDT

After years of battling the owners of the massive coal-fired power plant near his Charles County home, Ken Robinson decided that he wanted to reduce his dependence on their electricity. Now, he's taking a most unusual step.

Bad Begets Worse

Jeffrey H. Birnbaum — Fri, 22 Aug 2008 00:00:00 EDT

Fannie Mae and Freddie Mac are giants of the mortgage finance industry. But to investors, they're rapidly shrinking.