No Result on Independence Shareholder Vote
Independence Federal Savings Bank did not release the official tally of its Oct. 26 shareholder vote. Company officials were optimistic that a management-nominated slate of directors gained two of three open seats on the District thrift's nine-member board. Dissident shareholder Morton Bender nominated two directors, but insiders closely following the election predicted that only one of his nominees would be elected. Firm officials had said the results would be tallied by yesterday. A company spokesman did not return calls requesting comment.
HUD to Check Up on Fannie Mae
The Bush administration plans to soon determine whether Fannie Mae has made good on a pledge to stop using 55 offices nationwide to lobby Congress, Department of Housing and Urban Development spokesman Lemar Wooley said. The District-based mortgage finance company last month renamed the offices and said it directed them to help mortgage lenders and other groups focused on homeownership.
Freddie Mac Controller Resigns
Freddie Mac senior vice president, corporate controller and principal accounting officer John F. Woods resigned from the McLean-based housing finance company to become corporate controller at Washington Mutual, the company said. Woods spent 16 years at Arthur Andersen, the defunct accounting and consulting firm, before moving to Freddie Mac in 2002.
Royal Ahold, the Dutch parent of Giant Food stores, said third-quarter sales in the division that includes Stop & Shop in New England and Giant in the Washington area rose 2.6 percent from the comparable quarter a year earlier, to $3.7 billion, as new and refurbished stores attracted customers. But Royal Ahold said sales in "identical" Giant stores -- those open more than a year and not recently remodeled -- fell 2.3 percent. Sales at its Columbia-based U.S. Foodservice fell 1.2 percent, to $4.3 billion, because of a decision to end some contracts. Worldwide, Ahold's sales were virtually flat at $12.45 billion.
Compiled from staff and news service reports.