A18
Washington Business APPOINTMENTS
Companies ETera Consulting of the Dis-
trictnamedJohnRubensmanag- ing director of the corporate anal- ysis group and Alan Brooks vice president of marketing. DaVita of the District named
Joelle O. Thornhill, former vice president of federal government affairs at UnitedHealth Group, vice president of public policy. Harvey-Cleary Builders of
Gaithersburg named Matthew DeGourse senior project manag- er.
Arbitron of Columbia named
Gregg Lindner chief research of- ficer and executive vice president for service innovation. Williams Whittle of Alexandria
named Dorian L. Sullivan ac- count director for its account team, Meredith Parrish account director for its account team and MattWatier interactive art direc- tor for its creative digital team. Invotex Group of the District
named Stephanie G. Kelly direc- tor in its litigation services prac- tice.
Catapult Consultants of Ar-
lington named Lamont Silves vice president of business devel- opment for the civilian market. BAE Systems of Arlington
named Paul Falkler vice presi- dent and general manager. Leo A Daly of the District
named Rushan Abbas interna- tional program manager. SkyBitz of SterlingnamedRob-
ert Hsu vice president of interna- tional business development. Administaff of the District
named Jim Fuss district manag- er.
Checchi and Co. Consulting of
the District named James Agee vice president. RRDInternational of Rockville
namedBeth Burnside senior vice president of product develop- ment. A District-based alliance of
Lockheed Martin and Raytheon that is pursuing a U.S. Missile Defense Agency ground-based midcourse defense (GMD) con-
tract named Reid Davis deputy program manager for the GMD contract effort. Dynamic Aviation of Falls
Church named Guy Cannady chief operating officer of Dynam- ic Airways. BP America of the District
named Rap Dempsey vice presi- dent of government and public affairs. Pepco Holdings of the District
named Jack E. Strausman depu- ty general counsel-general law. Creative Associates of the Dis-
trict named Pablo Maldonado chief operating officer.
Associations/ nonprofits
AHC of Arlington named Ja-
sonDalleyandJohnSnyder to its board of directors. The Eugene and Agnes E.Mey-
er Foundation of the District named Rick Moyers vice presi- dent for programs and communi- cations. The National Institutes of
Health of Bethesda named Linda K. Berdine chair of the board of directors of the Children’s Inn. The National Community Pharmacists Association of Alex- andria named Kathleen Jaeger executive vice president and chief executive. The American LibraryAssocia-
tion of the District named Larra Clark director for the Office for Information Technology Policy’s ProgramonNetworks and associ- ate director of the Program on America’s Libraries for the 21st Century. The Retail Industry Leaders
Association of Arlington named Doug Thompson vice president for government affairs.
Communications R&R Partners of the District
named Doug Richardson public relations direct. Delucchi+ and Blue Bug Digi-
tal of the District named Stepha- nie O. Lynch director of public relations.
BANKRUPTCIES These firms recently filed with the U.S. Bankruptcy
Court’s local court clerk’s offices. Under Chapter 11 of the federal bankruptcy code, a
company is protected from claims by creditors while it tries to reorganize its finances under a plan approved by the court. In a Chapter 7 liquidation, a court trustee sells
assets to pay creditors’ claims. The company then ceases operations.
EASTERNVIRGINIA DISTRICT ALEXANDRIADIVISION
Waters’ Edge Restaurant LLC 13188 Marina Way, Woodbridge, Va. 22191 Type of filing: Chapter 11 liquidation Case number: 10-19079-SSM Date filed: Oct. 26 Attorney: Patrick R. Blasz, 703-964-3180 Assets: $100,001 to $500,000 Liabilities: $500,001 to $1 million Largest unsecured creditor: Not disclosed
DISTRICTOFCOLUMBIA The Washington Times LLC
INSIDER TRANSACTIONS
Trading as reported by companies’ directors, presidents, chief financial officers, general counsel, chief executive officers, chairmen and other officers, or by beneficial owners of more than 10 percent of a company’s stock.
Company Advisory Board Albemarle
American Capital Ciena
Deltek Maximus Media General United Therapeutics WGL Holdings Insider
David L. Felsenthal Michael T. Kirshbaum Richard L. Morrill Darin R. Winn Gary B. Smith David Delaski
David N. Walker
Coleman Wortham III Roger A. Jeffs Paul A. Mahon Gautam Chandra
Title
President CFO
Director Officer CEO
Beneficial Owner CFO
Director President
General counsel Officer
Date
Oct. 20 Oct. 20 Oct. 25
Oct. 19, Oct. 20 Oct. 21
Oct. 22 to Oct. 25 Oct. 18 Oct. 25 Oct. 21 Oct. 22 Oct. 21
Action Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold
Shares 6,212 875 500
18,355 6,250
20,000 5,500 1,500 8,000 3,150 400
Price Now holds 46.64 46.69 50.17 6.50
23,510 2,080
14,737 13.57
8.02 to 8.04 62.56 6.28
54.77 55.03 39
696,122 524,194 122,354 12,670
150,703 22,617 25,500 12,740
Thomson Financial BUSINESS RESOURCES
Directory Deadline: Thursday 4pm VA:Commercial Property
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Tuesday Entrepreneurship101:Startinga Business inFairfaxCounty. Workshop on the local, state and federal resources for newbusinesses. 8 to 10:30a.m., 8300BooneBlvd., Suite450, Vienna. Sponsor: Fairfax County EconomicDevelopment Authority, VirginaDepartment of Business Assistance, andU.S. Small Business Administration.Contact: Karen Smaw,
ksmaw@fceda.org or 703-790-0600.Web site:www.
fairfaxcountyeda.org/starting-business- seminar.
3600 New York Ave. NE, Washington, D.C. 20002 Type of filing: Chapter 11 reorganization (involuntary) Case number: 10-01041 Date filed: Oct. 21 Attorney: Richard Steinbronn Assets: Not disclosed Liabilities: Not disclosed Largest unsecured creditor: Washington Times Aviation, $1,500,000
—Compiled by Vanessa Mizell
Financial Bank of Georgetown named
Richard Bernardi senior vice president of commercial lending inNorthern Virginia. KPMG of the District named Michael K. Wolfinger managing director.
Real estate Blake Real Estate of the Dis-
trict named Owen Billman leas- ing associateandPaulKelminsky superintendent of the construc- tion and development team. Long & Foster of Chantilly
named Brian J. Evans general counsel. Cassidy Turley of the District
named Dianne Twinam vice pres- ident for property management.
Legal Seyfarth Shaw of the District
named Rebecca Bjork, former counsel atO’Melveny&Meyers in its class action, mass torts and insurance litigation practice, of counsel in its labor and employ- ment department. Nixon Peabody of the District
named Sumeet Sharma counsel. Patton Boggs of the District
named Robert E. Quicksilver partner in the technology and communications practice. Steptoe & Johnson of the Dis-
trict named Chong S. Park part- ner in the antitrust group. Dykema of the District named
Shannon M.McKeon associate in the intellectual property depart- ment. Ashcraft&Gerel of the District
named L. Palmer Foret of coun- sel in its medical malpractice, product liability and personal in- jury litigation practices.
Send information about promotions, appointments and personnel moves in theWashington area to Appointments, Business News, The Washington Post, 1150 15th St.NW, Washington, D.C. 20071-5302, or to
appointments@washpost.com.
EZ RE
KLMNO fed from A1
ic downturn that followed. Just two years after the world
financial system nearly col- lapsed, it is again gut-check time for Bernanke. “The greatest risk for the Fed
in taking this action is that it could extend the economy’s funk by giving a sense that either no one is in charge or that the people who are in charge can’t get it right,” saidDavid Shulman, senior economist at the UCLA Anderson Forecast. “The whole psychology of that could leak back into the economy.”
Jobs and prices The Fed is charged by Con-
gress with a twin mandate of maintaining maximum employ- ment and stable prices, and it is failing on both counts. The economy isn’t in free fall.
But as new data on gross domes- tic product affirmed Friday, the economy is mired in mediocre growth, too slow to bring down the unemployment rate. Infla- tion, meanwhile, is running about 1 percent, below the rate Fed officials view as optimal. When inflation is a little higher, it encourages consumers and businesses to spend money be- fore it loses value. “Viewed through the lens of
the Federal Reserve’s dual man- date . . . the current situation is wholly unsatisfactory,” William C. Dudley, the New York Fed president, said in a speech early lastmonth. When Bernanke was con-
firmed this year for a second four-year term, the widespread assumption was that his major task would be to decide when and how to move away from the unconventional measures taken during the crisis to boost growth. In reducing its target for
short-term interest rates to zero, the Fed had exhausted its normal tool for managing the economy. So the central bank pumped money into the economy by buy- ing vast quantities of bonds — more than $1.7 trillion worth. Now the Bernanke Fed is
poised, if not to double down on that earlier bet, at least to up its wager. “Phase one was to avoid a
complete market meltdown and something akin to the Great Depression,” saidMark Gertler, a New York University economist who has collaborated with Ber- nanke on academic research. “Phase two begins now and is in some ways trickier. . . . Once
again we’re in a situation where we have to use policies we ha- ven’t really experimented with.” The Fed is seeking to avoid the
fate of Japan, where falling pric- es and weak economic growth over the past two decades have created a self-reinforcing eco- nomic stagnation. The hope is that bymoving aggressively, such a cycle can be averted. Fed watchers expect that the
two days of meetings around a giantmahogany tablewill culmi- nate this week in the announce- ment of around $500 billion in Treasury bond purchases and perhaps a statement indicating a willingness tomake evenmore. The intended benefits are al-
ready being felt. In anticipation of the Fed’s action, investors have driven downmortgage rates, cre- ating an extra incentive for peo- ple to buy a home. Expectations have also driven the stock mar- ket up, making Americans feel wealthier. And the dollar has fallen in value, making U.S. ex- portersmore competitive, as cur- rency investors reacted to an expected decline in U.S. interest rates. But there’s a danger that the
bond purchases could work too well. For example, while a mod- est decline in the dollar could be good for the economy, a steep and disorderly drop could be disastrous. And while Fed leaders want
the inflation rate to be higher than it is now, if prices were to accelerate rapidly, that would be unwelcome. There’s also a risk that inves-
tors could view the Fed’s pro- gram of buying Treasury bonds as a signal that the central bank essentially plans to fund U.S. budget deficits indefinitely by printing money. That could prompt interest rates to rise, stymieing the economic recov- ery. Thomas M. Hoenig, president
of the Kansas City Fed, appears likely to dissent from the Fed’s decision this week. He said in October that such measures “could be a very dangerous gam- ble,” given the risk of stoking asset bubbles, for instance in the stockmarket. If, on the other hand, the
efforts to jump-start growth fall flat, the Fedwould be confronted with an even knottier quandary: take even bolder steps, such as a trillion-dollar round of bond purchases, or admit that these kinds of measures won’t work and stand pat.
FACE TIME
Wednesday FromBahHumbug toBooming HolidaySales. Learn seven simple strategies to improve retailing this holiday season. 8 to 10a.m.,Comfort Suites, 80Prosperity Ave., Leesburg. Sponsor: Loudoun SmallBusiness DevelopmentCenter.Cost: Preregistered,$25; At door,$30. Contact:CathyCampbell, 703-430-7222.Web site:
www.loudounsbdc.org. SMARTStart. Free networking seminar and information session on howtomeet clients and future
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business associates.4to5:15p.m., ChamberBoardRoom,200914th St. N., suite 111, Arlington. Sponsor:Bank of AmericaHome Loans.Contact: 703-525-2400.Web site:
www.arlingtonchamber.org.
Thursday
BizBuzz: Tools forSuccessful Communication.Discuss innovative ways to build business relationships. 11:30a.m. to 1 p.m.,WETA,3939 Campbell Ave., Arlington.Host: ArlingtonChamber ofCommerce. Contact: 703-525-2400.Web site:
www.arlingtonchamber.org. Whiting-TurnerBusinessand Entrepreneurial Lecture: “Nurturing Innovationfor ProblemsBigandSmall.”C.Dan Mote Jr. gives the first lecture of the fall semester in a series that brings leading technology enterprise thinkers to campus.5to6p.m., 1110 KimEngineeringBuilding,University ofMaryland,College Park. Sponsor: Clark School of Engineering.Contact: 301-405-6501.Web site:www.eng.
umd.edu/whitingturner. Transitioning toFull-Time Entrepreneurship. Learnwhen to focus on your business full time.6:30 to 8:30p.m., Intellectual Transition Facility, 1100Wayne Ave., Silver Spring. Sponsor:GE:ecomagination andBritish Airways.Cost:$10. Contact:240-821-5810.Web site: entrepreneurshipworkshop.eventbrite.c om.
Friday
Innovation2.0: Information Technology inGovernmentand Business.Discover newways technology is helping business and government engagewith customers. 8:30a.m. to4:30p.m.,Ronald ReaganBuilding&International Trade Center, 1300Pennsylvania Ave.NW, Washington.Host:University of Maryland’sRobertH. Smith School of Business.Cost:$150.Contact:
fbaker@rhsmith.umd.edu.Web site:
www.rhsmith.umd.edu/cioforum.
Send potential listings to facetime@
washpost.comat least twoweeks in advance.Model your entry on the information above, and put the event date in the subject line.
MONDAY, NOVEMBER 1, 2010 Much at stake for Fed, Bernanke
Encouraging spending Ultimately, the question of
whether the Fed can invigorate the economy depends on wheth- er companies, individuals and even the government respond to lower interest rates by spending and investing. Rates have been at exception-
ally low levels for more than a year and corporate America is in sound shape financially, yet com- panies are holding back on hir- ing more employees and making new investments. Executives say they lack confidence that con- sumers will boost demand for products, because Americans are busy paying down debts. Some economists argue that
the volume of bond purchases needed to jar the economy into motion again is vastly larger than what the Fed has seriously considered. Larry Meyer, a for- mer Fed governor nowwithMac- roeconomic Advisers, estimated lastweek that itwould takemore than $5 trillion worth, 10 times what analysts are expecting. Fed leaders deem such gargantuan numbers too risky. Either way, if the Fed over-
shoots or falls short, it could undermine the faith of the public and the financial markets in the ability of the government to address prolonged high unem- ployment and the risk of falling prices. At a time when investors are
already skittish about gridlock in Washington, such doubts could spook financial markets, creat- ing a self-reinforcing downward cycle in the economy. (By con- trast, the U.S. economy flour- ished from the mid-1980s until 2008 in part because investors and businesses were confident that the Fed would keep the nation on a steady growth path.) A failed effort by the Fed could
also prompt renewed calls to limit its authority and indepen- dence at a moment when popu- lar discontent over its role in bailing out the financial system has already made the central bank a target for many in Con- gress. But some partisans of the Fed
are urging it take dramatic new steps even if there’s a chance they don’t work. “I think the public under-
stands that if unemployment re- mains high, monetary policy isn’t going to be the reason,” said Victor Li, a Villanova professor and former Fed economist. “No one is going to say the Fed isn’t doing everything it can.
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