Lockheed Martin Corp. donated $1 million last Thursday to the United Negro College Fund for a program that seeks to boost technology in the fund's 39 member colleges and universities.

Vance D. Coffman, chairman and chief executive of the Bethesda-based defense contractor, co-hosted a luncheon in the District with UNCF President William H. Gray III that was beamed via satellite to similar events in Atlanta and Philadelphia.

The contribution goes to the fund's Technology Enhancement Capital Campaign, which has raised $65 million since March. The money will help build up the technology infrastructure at member institutions, provide training and help create an e-commerce site (www.uncf.com) to sell low-cost computers and software to UNCF members.

"Right now, our nation's companies are literally crying out for technically trained and motivated new employees to support the increasing use of high technology," Coffman said. "Investing in UNCF institutions is one important way we of the current generation can contribute to the American dream of tomorrow's generation."

Bowling Centers Regroup

AMF Bowling Inc. of Richmond, a debt-ridden chain of bowling centers owned by Goldman Sachs Group Inc., expects to save $8 million a year on organizational changes, including cutting corporate staff positions.

AMF Bowling said more than half of the savings will be used to fund new U.S. Bowling Center initiatives in training and to improve compensation and benefits programs for center managers and staff. A spokesman told Dow Jones News Service that the company plans to cut 100 positions, but 60 employees will be offered other jobs. The other 40 employees are expected to leave the company. Thursday, the New York Stock Exchange said it will suspend AMF Bowling's common shares from trading and will seek to delist the stock because of its depressed price--less than $1.

AMF Bowling said the organizational changes should help facilitate talks with creditors and lenders about the company's long-term debt.

MARYLAND

Guilford Pharmaceuticals of Baltimore filed with the Securities and Exchange Commission to sell up to 3.5 million shares of common stock. The developer of treatments for cancer and neurological diseases said it expects to use the proceeds to fund company operations and other general corporate purposes. On Friday, the company's shares, which have traded as high as $38.25 and as low as $13.13 in the past year, closed down 25 cents at $22 on the Nasdaq Stock Market.

Criimi Mae Inc.'s reorganization plan was described by a federal judge last week as "fair and reasonable," paving the way for the Rockville mortgage investment company to emerge from Chapter 11 bankruptcy protection. Judge Duncan W. Keir found the plan met all of the confirmation standards required by the Bankruptcy Code provided that a confirmation order is approved and entered by the Judge. Keir said he will hold a hearing Wednesday if he has any questions about the proposed order submitted to him. Otherwise, he said he will sign the order confirming Criimi Mae's reorganization plan.

American Capital Strategies Ltd. of Bethesda, a publicly traded buyout and mezzanine fund, opened an office in Philadelphia, the company's ninth. Kenneth E. Jones was hired as principal to run the office. Jones, formerly with Meridian Venture Partners, has over 25 years of middle market financing experience as a commercial banker, private equity principal and investment banker, mostly in the mid-Atlantic region.

Quantum Technology Group of Hunt Valley was hired by the Baltimore Orioles to upgrade and enhance the real-time player scouting application developed and implemented by Quantum a year ago. The enhanced application would enable Oriole scouts to provide complete real-time statistics, game logs and scouting reports on athletes in their player pool. Quantum makes Web-based and database application software.

VIRGINIA

Charles E. Smith Residential Realty Inc. of Arlington sold the 851-unit Orleans Village apartment and town home community in Alexandria to Home Properties for $67.4 million. Smith built Orleans Village from 1967 to 1972 and has owned it since. Separately, Smith bought two apartment properties: 2201 Wilson Blvd. in Arlington from Bush Construction Corp. for about $28 million, and New River Village in Fort Lauderdale, Fla., from an American Land Housing Group unit for about $30 million. Smith said it funded the purchases with the proceeds from the Orleans Village sale to Home Properties.

Crosswalk.com Inc.'s chief operating officer, Steve Wike, resigned his post Sept. 30, according to the company's quarterly report, filed Tuesday with the Securities and Exchange Commission. Wike remains on the Chantilly company's board. Wike joined Crosswalk.com in August 1999 after the company acquired Wike Associates Inc., the parent company of Media Management. At the time Media Management was a privately held Christian publishing and direct mail company that also developed Goshen.net, a Web site and e-mail service primarily for Christian leaders. That site has since been incorporated into Crosswalk.com, a Web portal for Christian communities.

Maximus Inc. executives said last week they foresee continued strong growth in this fiscal year, with no negative impact from recent and ongoing political events. In a conference call with analysts and reporters, David V. Mastran, chief executive and co-president of the government program management and consulting firm in Fairfax, said the company has signed $101 million in contracts this fiscal year, which began Oct. 1. The company also has about $150 million in pending contracts, as well as other contracts valued at about $375 million that are being negotiated or examined at present. He said the revenue target for the year is $500 million. 66

That's the number of low-orbiting satellites sold as part of a $25 million deal approved by a bankruptcy court judge Thursday in which the storied satellite network of Iridium LLC will stay in orbit. For months, the satellites for the bankrupt satellite-phone company had been on the verge of being deactivated and burning up in the atmosphere.