McNeil Technologies, a Springfield management consulting firm, is to begin providing airport passenger and baggage screeners tomorrow as part of a two-year pilot program for private companies to provide the screeners. McNeil Technologies recruited more than 150 passenger and baggage screeners for Rochester International Airport under the federal program at five airports.
McNeil Technologies recently won a $7.9 million year-long contract from the Transportation Security Administration. With the option of a second year, the contract is valued at $15.8 million, McNeil officials said.
McNeil was one of four companies selected nationwide by the TSA to provide passenger and baggage screening as specified in the Aviation and Transportation Security Act of 2001. It was the only company from the Washington area.
Capital One Financial issued shares of its common stock valued at $55 million to the former owners of AmeriFee. The stock deal was in connection with terminating a stock-purchase agreement related to the company's acquisition of AmeriFee. The Falls Church credit card company disclosed the information in its quarterly filing with the Securities and Exchange Commission on Friday; the shares were issued Nov. 11. Capital One acquired AmeriFee, an originator of consumer loans for elective medical procedures, in May 2001.
Maximus, a Reston-based government contractor, named David M. Johnson to the newly created post of chief operating officer, a position in which he will review the company's business lines during the next six months to identify areas for revenue and profit growth. Maximus said Johnson also will focus on the marketplace and serving key clients. Last week, Maximus received a $59.7 million contract to continue to operate the New York Medicaid Choice project. Johnson recently was a partner and managing director at Deloitte Consulting, where he was responsible for the firm's federal government practice.
PG&E National Energy Group of Bethesda failed to repay $431 million due Thursday, and it is now in default under revolving credit agreements. PG&E National Energy also did not make a $52 million interest payment due Friday, on senior unsecured notes due in 2011, under its $1 billion credit line. On Tuesday, PG&E, the California parent company of PG&E National Energy Group, said the unit, an unregulated energy merchant, would default as it decided to pursue a global restructuring plan with the unit's bondholders and shareholders. PG&E Corp. has warned that the unit may file for bankruptcy. PG&E Corp. said it has been in talks with lenders and bondholders regarding a restructuring of the debt. PG&E Corp.'s regulated utility, Pacific Gas & Electric, filed for Chapter 11 bankruptcy protection last year.
American Capital Strategies, a Bethesda business investment and lending company, sold 2.6 million shares of common stock to the public at $18 a share for total gross proceeds of approximately $46.8 million. American Capital is a publicly traded buyout and mezzanine fund, and it will use the proceeds to make more investments.
BAE Systems North America, the Rockville unit of the British defense conglomerate, completed its acquisition of Corbett Technologies for $15 million. BAE said the purchase of the Alexandria company complements its information technology and secure information businesses. Corbett employs more than 100 people.
Bresler & Reiner, a developer and operator of hotels, apartments and office buildings in the Washington area, said it earned $1.9 million (71 cents a share) on revenue of $15.7 million in the third quarter, compared with net income of $3.2 million ($1.15) on revenue of $13.5 million in the same quarter a year earlier. Company officials said the drop in net income was caused by higher interest expense. The company is currently refinancing much of its debt to take advantage of the current low interest rates.
Compiled from reports by the Associated Press, Bloomberg News, Dow Jones News Service and Washington Post staff writers.