Wash Post Business

Obama, congressional leaders emerge from meeting with pledge to work together

Shailagh Murray — Tue, 09 Feb 2010 16:25:00 EST

President Obama and congressional leaders emerged from a rare bipartisan meeting on Tuesday pledging to work together on a range of issues, including a job-creation bill that lawmakers hope to pass this month, along with longer-term goals related to health care, trade and energy.

Toyota announces global recall of more than 400,000 Prius, other hybrid cars

Blaine Harden — Tue, 09 Feb 2010 08:41:56 EST

TOKYO -- Toyota on Tuesday announced another global recall -- this time, more than 400,000 Prius and other hybrid cars with braking problems, as a quality crisis continues to curse the carmaker that built its global reputation on quality.

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Tue, 09 Feb 2010 08:41:56 EST

Top Treasury Department staff works through the federal snow day

David Cho — Tue, 09 Feb 2010 00:00:00 EST

Talk about a snow-day killjoy. Shortly after the federal government announced that it would close for Monday -- cue the yelping for joy around Washington -- the office of the executive secretary for Treasury Secretary Timothy F. Geithner sent out a message to its staff.

Credit unions seek larger share of business loans

Binyamin Appelbaum — Tue, 09 Feb 2010 00:00:00 EST

The names of small businesses seeking loans are scrawled across a whiteboard in the Bethesda offices of Mid-Atlantic Financial Partners: A Denny's franchisee with plans for a new restaurant, the owner of a limousine fleet hoping to consolidate his auto loans, a government contractor seeking a lin...

Voxiva launches U.S. text service to aid pregnant women

Mike Musgrove — Tue, 09 Feb 2010 00:00:00 EST

A D.C.-based mobile technology firm is behind a new government effort to educate and encourage healthy habits in pregnant women.

The week ahead: Feb. 8-12 in business

Post — Mon, 08 Feb 2010 00:00:00 EST

This week will bring a fresh reading on retail sales, the first congressional testimony of the year by Federal Reserve Chairman Ben S. Bernanke, and the first release of a new and potentially useful economic indicator.

Toyota to recall and repair brakes on new Priuses sold in Japan

Blaine Harden — Mon, 08 Feb 2010 00:00:00 EST

TOKYO -- Toyota's quality woes mounted over the weekend, with a reported decision in its home market to recall and repair the brakes on its latest model of the Prius, the hybrid that last year was the best-selling new car in Japan.

U.S. sends a message by stepping up crackdown on foreign business bribes

Carrie Johnson — Mon, 08 Feb 2010 00:00:00 EST

Federal authorities want companies to know that the cost of paying bribes to win overseas contracts is growing steeper by the day.

Greenworks owner bet on flowers, and the risk has paid off big

Thomas Heath — Mon, 08 Feb 2010 00:00:00 EST

You are shoveling out from another big snowfall and yet another drop is expected later this week. So who is thinking about the sunniness of flowers, roses by the basket and a heart-filled Valentine's Day, which arrives Sunday?

In SEC filing, China reveals vast U.S. holdings

Steven Mufson — Tue, 09 Feb 2010 00:00:00 EST

China's sovereign wealth fund has lifted the veil on its U.S. securities holdings, revealing more than $9.6 billion of holdings in about 60 U.S. companies.

Criminal probe is launched in Connecticut power plant blast

Post — Tue, 09 Feb 2010 00:00:00 EST

Authorities looking for the cause of an explosion that killed five people at a power plant under construction launched a criminal investigation Monday, saying they could not rule out criminal negligence as the cause.

Many workers find a way to get to the job, even in a blizzard

Carol Morello and N.C. Aizenman — Tue, 09 Feb 2010 00:00:00 EST

Jeff Campbell has been at his job as a security officer since Friday, sleeping in a chair and eating military MREs. Andre Wye left home at 4 a.m. Monday to drive 25 scary, slippery miles to the supermarket where he's a cashier. Sia Gbolie deposited her teenage son with a neighbor and camped out with...

Managing a 'river of consumption'

Ed O'Keefe — Tue, 09 Feb 2010 00:00:00 EST

Martha N. Johnson is the new head of the General Services Administration, which serves as the government's primary landlord and buyer. Johnson was interviewed Thursday, moments after the Senate approved her confirmation.

In Congress, it's decision time on long-term unemployment benefits

Perry Bacon Jr. — Tue, 09 Feb 2010 00:00:00 EST

As the Senate this week considers a "jobs bill" to reduce unemployment, lawmakers will have to decide whether to continue an unprecedented change in how the country treats people who are out of work, which was quietly approved last year.

Calif. insurer's rate increases draw attention of federal government

Alec MacGillis — Mon, 08 Feb 2010 16:55:56 EST

President Obama's secretary of health and human services fired off a sharply worded letter to a California insurer Monday, demanding to know why it is raising rates for individual policyholders by as much as 39 percent.

U.S. proposes new climate service

Juliet Eilperin — Tue, 09 Feb 2010 00:00:00 EST

The Obama administration proposed a new climate service on Monday that would provide Americans with predictions on how global warming will affect everything from drought to sea levels.

INSIDER TRANSACTIONS

Post — Mon, 08 Feb 2010 00:00:00 EST

-- Thomson Financial

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Mon, 08 Feb 2010 00:00:00 EST

APPOINTMENTS

Post — Mon, 08 Feb 2010 00:00:00 EST

Comcast SportsNet Mid-Atlantic of Bethesda named Mark Lapidus , former director of marketing, vice president of digital media.

Local events

Post — Mon, 08 Feb 2010 00:00:00 EST

TUESDAY Recordkeeping and Accounting. Workshop explains accounting principles, financial statements, general business, taxes and management accounting. 9:30 a.m. to 4 p.m., American Bar Association Building, 740 15th St. NW, third floor, Washington. Sponsor: Service Corps of Retired Executives....

Bankruptcies

Post — Mon, 08 Feb 2010 00:00:00 EST

These firms recently filed with the U.S. Bankruptcy Court's local clerk of court offices.

Pizzamaker braves snow to deliver on Super Bowl Sunday

Christian Davenport — Mon, 08 Feb 2010 00:00:00 EST

For pizza shops, Super Bowl Sunday is the biggest night of the year, a chance to do a week's worth of business in a single night, an event to look forward to all year.

Can the U.S. government require you to get an IRA?

Martha C. White — Sun, 07 Feb 2010 00:00:00 EST

One of the biggest priorities for the Middle Class Task Force led by Vice President Biden is a push to improve and standardize American retirement planning. This is where the Obama administration can make big changes. But whether average workers or financial service firms and insurance companies ...

Steady nerves help in jittery stock market

Renae Merle — Sun, 07 Feb 2010 00:00:00 EST

For many investors, the past three weeks of Wall Street action must have felt hauntingly familiar. Stocks slid a little, then a lot. There was a partial recovery, then another tumble.

Racking up miles? Maybe not.

Ashley Halsey III — Sun, 07 Feb 2010 00:00:00 EST

Within a few years, a driver who pulls up to the gas pump may pay two bills with a single swipe of the credit card: one for the gas and the other for each mile driven since the last fill-up.

Paying your credit card bill before the mortgage

Michelle Singletary — Sun, 07 Feb 2010 00:00:00 EST

My grandmother Big Mama had a key financial rule that I've followed throughout my life.

New at the Top: Tekedra M. Jefferson, AOL

Post — Mon, 08 Feb 2010 00:00:00 EST

I worked at a real estate law firm as a student in high school. It was very stressful but it piqued my interest in law and, when I went to college in the District, I used the city as my university. I did internships with companies that lobbied on the Hill, researched papers at the Library of...

New at the Top: Tekedra M. Jefferson

Post — Mon, 08 Feb 2010 00:00:00 EST

Position : Senior vice president of public policy at AOL, a global Web services company based in Dulles.

Treasury Secretary Timothy F. Geithner: Global bank reform still needed

Post — Sun, 07 Feb 2010 00:00:00 EST

Treasury Secretary Timothy F. Geithner said Saturday that the recovery in the global economy has not caused major economies to ease up on their commitment to stiffen the rules for banks.

General-aviation security proposal is being scaled back

Spencer S. Hsu — Sun, 07 Feb 2010 00:00:00 EST

Citing industry objections, the Transportation Security Administration is preparing to scale back a controversial plan to expand aviation security rules for the first time to thousands of private planes.

2010 Mitsubishi Outlander XLS

Post — Sun, 07 Feb 2010 00:00:00 EST

Complaints: It's faulty automotive advertising, especially those ads showing cars and trucks rip-roaring along off-road paths or along severely weather-compromised roads. Disclaimers citing the drivers in those advertisements as "professional" or their various driving environments as "closed" are...

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Visualize a career change several steps ahead

Vickie Elmer — Sun, 07 Feb 2010 00:00:00 EST

After growing up traveling as an "Army brat" and studying in Spain while attending James Madison University, Kate Heffley decided that international business would be a great career choice. She moved to the District jobless but before long landed a job at the U.S. Chamber of Commerce as an...

Behavioral interviews require answers, not your questions

Post — Sun, 07 Feb 2010 00:00:00 EST

Adapted from a recent online discussion with career advice columnist Lily Garcia.

Investment strategist forecasts events that could affect the economic recovery

Anne Kates Smith — Sun, 07 Feb 2010 00:00:00 EST

It's a tradition on Wall Street to offer predictions early in the year about where the economy is headed, whether companies will prosper and what will happen in the stock market. Here, Ed Yardeni, president of Yardeni Research, a New York-based firm providing independent investment strategy...

Rep. Ryan proposes radical solution to budget problem

Ezra Klein — Sun, 07 Feb 2010 00:00:00 EST

I spent the first part of the week thinking about President Obama's proposal for next year's budget. It's a modest document meant to take current policy and nudge it forward and leftward while beginning the hard work of pushing the deficit downward. It makes its changes at the edge of the state, ...

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Sun, 07 Feb 2010 00:00:00 EST

Mortgage bankers group sells D.C. offices to Bethesda company

V. Dion Haynes — Sat, 06 Feb 2010 00:00:00 EST

Even the pros are taking a beating. The Mortgage Bankers Association, its membership expert in real estate, sold its $90 million headquarters in downtown Washington on Friday for $41 million.

Paulson's book details GE chief's private concerns in 2008 over company's debt

Jeff Gerth — Sat, 06 Feb 2010 00:00:00 EST

As the financial crisis worsened toward the end of 2008, chief executive Jeffrey Immelt and other leaders at General Electric repeatedly assured the public there was no need to worry about the company's ability to access credit markets and refinance its massive debts as they came due.

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Auto reliability ratings might not be reliable with problems such as Toyota's

Annys Shin — Sat, 06 Feb 2010 00:00:00 EST

Toyota's recall of millions of cars in order to fix sticky gas pedals and loose floor mats has inconvenienced customers around the world and damaged the automaker's reputation. Now it could also be undermining public confidence in the system of independent ratings and reviews that consumers have ...

Debt crisis unsettles European economy

Anthony Faiola — Sat, 06 Feb 2010 00:00:00 EST

LONDON -- Governments in Athens, Madrid and Lisbon struggled on Friday to quell fears of a looming debt crisis in Europe that is pummeling the euro and rippling across global markets, as authorities vowed to impose fiscal austerity and plug their yawning budget deficits. The problem, however, is...

Beazer Homes posts $48 million first-quarter profit

Post — Sat, 06 Feb 2010 00:00:00 EST

Thanks largely to a hefty tax gain, home builder Beazer Homes of Atlanta said its fiscal first-quarter profit was $48 million, compared with a loss of $80.3 million in the year-earlier period. The builder booked a tax gain of $101 million, and revenue was essentially flat at $218.8 million.

Goldman Sachs CEO Blankfein gets stock-based $9 million bonus

Tomoeh Murakami Tse — Sat, 06 Feb 2010 00:00:00 EST

Goldman Sachs said Friday that its chief executive, Lloyd Blankfein, received a stock-based bonus of $9 million in 2009, ending weeks of speculation about how much the New York-based investment bank would dole out amid rising public anger over Wall Street pay.

Reverse exodus of migrant workers in Persian Gulf challenges India

Emily Wax — Sat, 06 Feb 2010 00:00:00 EST

KOCHI, INDIA -- When his overnight flight landed, Abdul Wahib walked out of Kochi's palm-fringed airport and hugged his family. After 24 years of working in the United Arab Emirates, he was home. He carried a suitcase and a layoff notice: His well-paid job as a forklift operator at Dubai's once-b...

BAE Systems pays $450 million to settle bribery scandal charges

Mike Musgrove — Sat, 06 Feb 2010 00:00:00 EST

The world's second-largest defense contractor, BAE Systems, agreed on Friday to pay nearly $450 million in penalties to settle U.S. and British charges related to a long-running bribery scandal.

Corrections

Post — Sat, 06 Feb 2010 00:00:00 EST

-- A Feb. 5 Page One article about stocks tumbling because of anxiety over economies in southern Europe and an increase in U.S. jobless claims incorrectly said that a flight by investors to U.S. Treasury securities drove down the value of the U.S. dollar. It should have said the flight drove up the...

Obama calls for new government aid for small businesses

Michael A. Fletcher — Fri, 05 Feb 2010 14:52:55 EST

President Obama on Friday outlined proposals to make it easier for small businesses to get government-backed loans and to refinance their mortgages, saying both steps would help accelerate the nation's slow recovery from the ongoing job crisis.

Markets flat in face of debt concerns, jobless report

Renae Merle — Fri, 05 Feb 2010 17:35:01 EST

Wall Street treaded water Friday as investors weighed gloomy news about debt problems in Europe and a report that showed an unexpected drop last month in the unemployment rate.

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NHTSA overly reliant on carmakers' accounts during complaint reviews, critics say

Peter Whoriskey — Fri, 05 Feb 2010 00:00:00 EST

The deluge of complaints about Toyota cars, first over floor mats, then over sticky pedals and recently over Prius brakes, has aroused criticism that federal regulators compromised vehicle safety by too often trusting carmakers' explanations.

Fear of E.U. economic woes, rise in U.S. jobless claims send markets plunging

Ylan Q. Mui and Steven Mufson — Fri, 05 Feb 2010 00:00:00 EST

Fears about financial crises in the wobbling economies of southern Europe and an unexpected increase in U.S. jobless claims sent global stock markets reeling Thursday, posing new challenges for the European Union and the U.S. economic recovery.

N.Y. Attorney General Cuomo charges Bank of America with fraud

Zachary A. Goldfarb and Tomoeh Murakami Tse — Fri, 05 Feb 2010 00:00:00 EST

New York Attorney General Andrew M. Cuomo filed fraud charges Thursday against Bank of America and two of its former top executives, alleging that they lied not only to investors but also to government officials who were orchestrating a massive bailout of the bank in the final months of 2008.

House votes to revive pay-as-you-go budget rules

Lori Montgomery — Fri, 05 Feb 2010 00:00:00 EST

Congress agreed Thursday to revive the pay-as-you-go budget rules that helped wipe out massive deficits and balance the budget during the Clinton administration, although the new version includes a long list of exceptions that would permit Democrats to add at least $1.5 trillion to the nation's t...

Dodd, Shelby hit impasse, imperiling financial system legislation

Brady Dennis and Binyamin Appelbaum — Sat, 06 Feb 2010 00:00:00 EST

The divide between Republicans and Democrats over how to protect borrowers from abusive lenders continues to jeopardize the prospects for legislation to overhaul the nation's financial regulatory system -- a top priority for President Obama.

House Democrats attack GOP budget proposal

Perry Bacon Jr. — Fri, 05 Feb 2010 11:21:55 EST

Congressional Democrats are hammering a controversial budget proposal recently put out by a bloc of Republicans, looking to put the GOP on the defensive about its own ideas and blunt momentum the Republicans have gained from attacking Democratic policies.

Drop in unemployment rate shows signs of an economic reprieve

Neil Irwin, Michael A. Fletcher and Kafia Hosh — Sat, 06 Feb 2010 00:00:00 EST

A surprising dip in the unemployment rate for January offers promise that the job market is finally stabilizing after a long, steep decline.

Markets down on fear of E.U. economic woes, rise in U.S. jobless claims

Ylan Q. Mui , Steven Mufson and Howard Schneider — Fri, 05 Feb 2010 10:10:55 EST

Overseas stock markets dropped sharply for a second day Friday amid concern over the strength of the economic recovery and mounting government deficits in some European countries.

Ford addresses hybrid braking issue as Toyota president vows to lead task force

Frank Ahrens and Blaine Harden — Sat, 06 Feb 2010 00:00:00 EST

Automaker response to squishy-feeling brakes on hybrid vehicles spread beyond Toyota to Ford on Friday, and the president of Toyota held a surprise news conference in Japan, apologizing for safety problems that have led to massive vehicle recalls around the globe.

Overseas markets respond to U.S. jobless claims, fear of E.U. economic woes

Ylan Q. Mui , Steven Mufson and Howard Schneider — Fri, 05 Feb 2010 12:42:53 EST

Overseas stock markets dropped sharply for a second day Friday amid concern over the strength of the economic recovery and mounting government deficits in some European countries.

The myth of Washington bipartisanship and the art of true compromise

Steven Pearlstein — Fri, 05 Feb 2010 00:00:00 EST

Give this to Scott Brown: He's just been sworn in, and he's already having a positive impact on the governing dynamic in the capital. The president, key lawmakers and even the press have begun to focus on the dysfunctionality of the political process that now threatens all incumbents, irrespective...

Cash-in refinancing could help homeowners save

Kenneth Harney — Sat, 06 Feb 2010 00:00:00 EST

Thinking of cashing out some equity when you refinance your mortgage? Sure, that used to be what millions of homeowners did when they needed extra money.

An infrared sauna: Luxury at a price you can relax with

Barbara Ruben Special to The Washington Post — Sat, 06 Feb 2010 00:00:00 EST

Lyme disease left Kathy Fowler's hands so stiff that she couldn't type. She couldn't remember simple directions. Intravenous antibiotics helped, but Fowler, a health reporter for WJLA (Channel 7), wanted to explore alternative treatments as well.

It's property tax assessment time. Here's what homeowners need to know.

Renae Merle — Sat, 06 Feb 2010 00:00:00 EST

Thousands of Washington area homeowners are receiving their property tax assessment notices from their local jurisdictions. But many homeowners, will see their property tax assessments fall as the housing market continues to suffer.

U.S. agency to probe braking problems on Toyota Prius

Frank Ahrens — Fri, 05 Feb 2010 00:00:00 EST

The U.S. government on Thursday launched an investigation into reported braking problems with Toyota's high-profile hybrid, the Prius, as the Japanese auto giant denied media reports in its home country that it will expand the Prius recall.

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Official says Fed might buy more mortgage-backed securities

Neil Irwin — Fri, 05 Feb 2010 00:00:00 EST

The Federal Reserve would consider reopening its program to support the mortgage market if interest rates spiked or the economy showed new weakness, Federal Reserve Bank of New York President William C. Dudley said in two new interviews.

U.S. officials hopeful China will make concessions on currency

John Pomfret — Fri, 05 Feb 2010 00:00:00 EST

Treasury Secretary Timothy F. Geithner said Thursday that he believed China would allow its currency to appreciate vis-à-vis the dollar -- a move President Obama contends is essential to the U.S. economy by making U.S. exports more competitive and lowering China's massive trade surplus.

Toyota's shares slide as its reputation loses steam

Frank Ahrens — Thu, 04 Feb 2010 00:00:00 EST

For more than two decades, Toyota has won a reputation as a builder of high-quality, reliable vehicles. Sure, they were priced somewhat above their American competitors, but they were worth it, consumers were told, because Toyotas were the product of an innovative management culture, a happy work...

Obama pay czar vows to press for lower AIG bonuses but cites contract obstacles

Brady Dennis — Thu, 04 Feb 2010 00:00:00 EST

The Obama administration's compensation czar said Wednesday that he will continue pushing for reductions to the hefty bonus payments being handed out by American International Group but acknowledged that he is constrained by guarantees the company made to employees years ago.

Economic crisis looms for Japan amid financial and manufacturing problems

Blaine Harden — Thu, 04 Feb 2010 00:00:00 EST

TOKYO -- It's been a humbling few days for Japan. Toyota, the nation's largest company, announced vehicle recalls on three continents and shut down five assembly plants in the United States, and its president told the world, "We're extremely sorry."

Health-care sector grew as economy contracted in 2009

David Brown — Thu, 04 Feb 2010 00:00:00 EST

Health-care spending in the United States grew last year despite a contracting economy, amounting to 17.3 percent of the gross domestic product, according to estimates released Wednesday.

AOL reverses steep fourth-quarter loss but revenue drops 17%

Mike Musgrove — Thu, 04 Feb 2010 00:00:00 EST

Reporting quarterly results for the first time in a decade as an independent company, AOL said Wednesday that it earned $1.4 million in the fourth quarter, reversing a steep loss from a year earlier.

An important tax credit that might not be on your radar screen

Michelle Singletary — Thu, 04 Feb 2010 00:00:00 EST

For millions of Americans filing their 2009 tax returns, things could be vastly different this year.

Nation Digest

Post — Thu, 04 Feb 2010 00:00:00 EST

Despite a contracting economy, health-care spending in the United States grew last year at its fastest pace since at least 1960, according to estimates released Wednesday.

Google to enlist NSA to help it ward off cyberattacks

Ellen Nakashima — Thu, 04 Feb 2010 00:00:00 EST

The world's largest Internet search company and the world's most powerful electronic surveillance organization are teaming up in the name of cybersecurity.

2007 federal probe of Toyota complaints resolved nothing

Peter Whoriskey — Thu, 04 Feb 2010 00:00:00 EST

Federal regulators uncovered stark evidence that some Toyota cars accelerated unexpectedly more than two years ago. But neither the government's safety agency nor the automaker apparently recognized at the time how broad the dangers would turn out to be.

Intelligence chief acknowledges U.S. may target Americans involved in terrorism

Ellen Nakashima — Thu, 04 Feb 2010 00:00:00 EST

Director of National Intelligence Dennis C. Blair acknowledged Wednesday that government agencies may kill U.S. citizens abroad who are involved in terrorist activities if they are "taking action that threatens Americans."

Bernanke starts new term with speech acknowledging critics' points

Neil Irwin — Thu, 04 Feb 2010 00:00:00 EST

Ben S. Bernanke officially kicked off his second term as Federal Reserve chairman Wednesday with a simple message for those who criticized him during a bruising Senate confirmation battle: I hear you.

Treasury offers loans to banks funding community development

Binyamin Appelbaum — Thu, 04 Feb 2010 00:00:00 EST

The Treasury Department said Wednesday that it will offer up to $1 billion in low-cost loans to banks that focus on funding development in lower-income communities, part of the administration's new emphasis on helping smaller banks.

Pfizer triples its fourth-quarter profit

Post — Thu, 04 Feb 2010 00:00:00 EST

EPA biofuels guidelines could spur production of ethanol from corn

Steven Mufson — Thu, 04 Feb 2010 00:00:00 EST

The nation's farmers got a big boost Wednesday when the Obama administration issued new biofuels guidelines that could open the way for large increases in the production of corn-based ethanol.

After Toyota recall, investigators look for faults in electronic throttles

Peter Whoriskey and Frank Ahrens — Wed, 03 Feb 2010 00:00:00 EST

Federal regulators have launched an inquiry into whether engine electronics caused vehicles to accelerate unexpectedly as legislators and experts on Tuesday cast doubt on Toyota's explanation of its "runaway cars."

Dour forecast underpins Obama's budget plan

Neil Irwin — Wed, 03 Feb 2010 00:00:00 EST

President Obama's proposed budget rests on a series of gloomy economic projections, which suggest that the administration does not foresee a quick leap out of the deepest downturn in generations.

AvalonBay's funds from operations rises, but rental revenue falls

Post — Thu, 04 Feb 2010 00:00:00 EST

AvalonBay Communities reported Wednesday that fourth-quarter funds from operations, a common measure of profitability for real estate investment trusts, more than doubled, to $52.7 million, from $23 million a year earlier.

Struggling banks need government help, trade group says

Binyamin Appelbaum and David Cho — Wed, 03 Feb 2010 00:00:00 EST

The head of a major trade group for community banks said Tuesday that the Obama administration's $30 billion program to spur small-business lending would not work unless the government offered money to struggling banks alongside stronger ones.

D.C. unemployment rate increases overall number for Washington metro area

V. Dion Haynes — Wed, 03 Feb 2010 00:00:00 EST

Unemployment in the Washington region rose slightly in December, to 6.2 percent, according to government data released Tuesday, pushed up largely by an increase in the District's jobless rate.

W.R. Grace issues earnings report

Post — Wed, 03 Feb 2010 00:00:00 EST

Columbia-based W.R. Grace said it earned $46.5 million in the fourth quarter of 2009, down 2 percent from the last quarter of 2008. Revenue fell 12 percent, to $678.3 million. For the year, the construction materials company reported that it earned $81.2 million, a drop from $136.9 million in 2008....

Intelligence officials say al-Qaeda will try to attack U.S. in next 6 months

Joby Warrick — Wed, 03 Feb 2010 00:00:00 EST

The Obama administration's top intelligence officials on Tuesday described it as "certain" that al-Qaeda or its allies will try to attack the United States in the next six months, and they called for new flexibility in how U.S. officials detain and question terrorist suspects.

Business Digest: FHFA reducing Fannie, Freddie portfolios

Post — Wed, 03 Feb 2010 00:00:00 EST

MORTGAGE FINANCING The federal regulator in charge of Fannie Mae and Freddie Mac said Tuesday that the mortgage finance giants would not be taking on additional measures to bring down interest rates on home loans as other government programs to stimulate the housing market expire.

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Volcker urges Senators to adopt Obama's rules on banking

Brady Dennis — Wed, 03 Feb 2010 00:00:00 EST

Former Federal Reserve chairman Paul Volcker urged a Senate panel Tuesday to adopt new rules that would limit the investment activities of large banks as part of an overhaul of financial regulations, but lawmakers said the proposal could complicate ongoing negotiations on sweeping reform...

Pilot error to blame in crash of Flight 3407 near Buffalo, NTSB says

Sholnn Freeman — Wed, 03 Feb 2010 00:00:00 EST

Mistakes by pilots, not bad weather, caused the crash of a turboprop plane near Buffalo last year that killed 50 people, the National Transportation Safety Board said Tuesday in its final hearing on the crash.

D.C. unemployment rate increases overall number for Washington metro area

V. Dion Haynes — Wed, 03 Feb 2010 00:00:00 EST

Unemployment in the Washington region rose slightly in December, to 6.2 percent, according to government data released Tuesday, pushed up largely by an increase in the District's jobless rate.

AIG plans to pay $100 million in another round of bonuses

Brady Dennis — Wed, 03 Feb 2010 00:11:54 EST

American International Group plans Wednesday to pay another round of employee bonuses, worth about $100 million, said several people familiar with the matter, a year after similar payments at the bailed-out insurance giant infuriated many Americans and inflamed Washington.

Despite his roots, Obama struggles to show he's connected to middle class

Eli Saslow — Wed, 03 Feb 2010 00:00:00 EST

NASHUA, N.H. -- President Obama's 165th flight on Air Force One required all the customary protocols of a presidential trip. He took a helicopter from the White House lawn to Andrews Air Force Base, where seven military officers waited at full attention. He entered his plane through a door decorated...

$19.3 billion profit is a 57% drop for Exxon Mobil

Steven Mufson — Tue, 02 Feb 2010 00:00:00 EST

Exxon Mobil posted a $19.3 billion profit in 2009, an imposing figure in corporate America but down 57 percent from the all-time record the company set during the previous year's roller coaster in prices.

Government data show an ongoing but uneven economic recovery

Ylan Q. Mui — Tue, 02 Feb 2010 00:00:00 EST

In another sign of the nation's uneven economic recovery, new data released Monday showed manufacturing activity at its highest level in more than five years while consumer demand continued to moderate.

Obama's $3.8 trillion budget calls for jobs assistance, tax changes

Lori Montgomery — Mon, 01 Feb 2010 00:00:00 EST

The $3.8 trillion budget blueprint President Obama plans to submit to Congress on Monday calls for billions of dollars in new spending to combat persistently high unemployment and bolster a battered middle class. But it also would slash funding for hundreds of programs and raise taxes on banks an...

Toyota issues public apology, details plan to fix pedals

Peter Whoriskey — Tue, 02 Feb 2010 00:00:00 EST

Toyota apologized directly to its U.S. customers Monday and announced the details of its plan to repair the cars it has sold with potentially sticky accelerator pedals.

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Tue, 02 Feb 2010 00:00:00 EST

Obama banking plan complicates regulatory bill

JIM KUHNHENN — Tue, 02 Feb 2010 21:03:23 EST

WASHINGTON -- The Obama administration's stepped up demand for tougher restrictions and new taxes on big banks is complicating Senate efforts to write a bipartisan financial regulation overhaul, even drawing a sharp rebuke from a top presidential ally in the Senate.

Rising FHA default rate foreshadows a crush of foreclosures

Dina ElBoghdady and Dan Keating — Tue, 02 Feb 2010 00:00:00 EST

The share of borrowers who are falling seriously behind on loans backed by the Federal Housing Administration jumped by more than a third in the past year, foreshadowing a crush of foreclosures that could further buffet an agency vital to the housing market's recovery.

Geithner: Banks must pay fully for bailout

Glenn Somerville — Tue, 02 Feb 2010 13:01:07 EST

WASHINGTON (Reuters) - The Obama administration is prepared to impose fees on financial firms for as long as necessary to ensure that every cent spent on bailing out banks is repaid, U.S. Treasury Secretary Timothy Geithner said on Tuesday.

Ex-TV news director David Silverstein runs with chance to work on Super Bowl

Thomas Heath — Mon, 01 Feb 2010 00:00:00 EST

Super Bowl XLIV kicks off in Miami next Sunday, and Howard County resident David Silverstein is in South Florida, working for the city's host committee on the zillion off-the-field details that go into making the huge event a success.

Silverdome's bargain price reflects financial woes in Detroit suburb of Pontiac

Dana Hedgpeth — Mon, 01 Feb 2010 00:00:00 EST

PONTIAC, MICH. -- Once this city had its own car, 23,000 busy factory workers and the $55.7 million Silverdome, a storied Teflon-coated stadium where the Detroit Lions played, Elvis Presley sang, WrestleMania's Hulk Hogan stalked and Pope John Paul II prayed.

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Mon, 01 Feb 2010 00:00:00 EST

Corrections

Post — Tue, 02 Feb 2010 00:00:00 EST

-- The Spring Arts Preview in the Jan. 31 Arts & Style section incorrectly listed the art exhibit "David Smith Invents" as being scheduled to open at the Phillips Collection in June. This exhibit is planned for next year. Another listing, for the dance performance "Make History Now: Two Friends and...

Gannett posts profit on cuts, smaller slide in ad sales

Associated Press — Tue, 02 Feb 2010 00:00:00 EST

Gannett, the largest U.S. newspaper publisher, said Monday it turned a profit in the fourth quarter, helped by a drop in one-time costs and a smaller decline in ad sales.

CACI International completes deal for cybersecurity firm

Post — Tue, 02 Feb 2010 00:00:00 EST

CACI International of Arlington said Monday that it has completed its acquisition of cybersecurity company SystemWare for an undisclosed sum.

White House proposes increase in FDIC deposit insurance fund

Post — Tue, 02 Feb 2010 00:00:00 EST

The Obama administration wants to increase the size of the insurance fund that repays depositors in failed banks, a step that would require all banks to pay larger fees to the Federal Deposit Insurance Corp.

Lessons for U.S. in report on Pakistan-Afghanistan border efforts

Walter Pincus — Tue, 02 Feb 2010 00:00:00 EST

Two years ago, along the unstable Pakistan-Afghanistan border -- where Taliban and al-Qaeda fighters were established and U.S. forces had begun their Predator missile strikes -- the U.S. Agency for International Development signed off on a three-year, $43.4 million project called "Capacity Buildi...