Flyi Creditor Seeks $8.5 Million in Damages
Flyi, parent of Dulles-based Independence Air, said yesterday that a creditor is seeking $8.5 million in damages because the airline prematurely terminated an aircraft lease involving the creditor. Flyi did not name the creditor, which filed suit against the airline in January in a New York state court, Flyi said.
XM Satellite Radio to Raise $300 Million
XM Satellite Radio Holdings said that it expects to raise about $300 million in gross proceeds from a public offering of 9.7 million common shares. The District-based satellite radio service said it would use the money for working capital and general corporate purposes. UBS Securities is underwriting the offering, which XM expects to close on June 14.
Neustar Prices IPO at $18 to $20 a Share
Neustar said in a Securities and Exchange Commission filing that its proposed initial public offering would be 25 million common shares at $18 to $20 a share, all on behalf of selling shareholders. The Sterling telecommunications clearinghouse services provider, which would not receive proceeds from the IPO, listed Warburg Pincus Equity Partners as its largest selling shareholder.
Northrop Grumman to Add 100 Jobs
Northrop Grumman's information technology division in McLean said it would add about 100 jobs in the next 18 months to support its recent National Aeronautics and Space Administration contract award. The company was selected to compete with Titan for up to $200 million of work under the five-year contract for software verification and validation services. Northrop Grumman said it would manage work it receives under the contract at its Fairmont, W.Va., facility.
Dobson Shifting Work to Oklahoma
Dobson Communications, a cell phone provider that is closing a customer service center in Frederick, said it is adding about 200 jobs at its Oklahoma City headquarters as it expands its customer service facility there. The Frederick call center, scheduled to close July 1, employs about 150 people.
Dobson provides cellular service in rural and suburban areas.
Freddie Mac Executive Moves On
Jerome T. Lienhard, Freddie Mac's treasurer and a senior vice president, quit and joined McLean-based MBNA, the credit card company. Lienhard ran debt funding and investor relations for McLean-based Freddie Mac.
Compiled from staff and news service reports.