MONDAY, DECEMBER 6, 2010 APPOINTMENTS
Companies Hewlett-Packard of Herndon
named Betsy Hight, former vice director of the Defense Informa- tion Systems Agency, vice presi- dent of its cyber-security practice. MerkleofColumbianamedMe-
ganPagliucavicepresident inthe displaymedia division. Cognosante of McLean named
Michele V. Romeo director for health insurance exchange and Elizabeth L. Place director of technical support. EDF of Chevy Chase named
Eric Bret president and chief ex- ecutive. ArielWay of theDistrictnamed
DeanSchauer, former chief exec- utiveofReliantFinancialConsult- ing, chief financial officer. Citizant of Chantilly named
Robert Lech, former division di- rector, vice president of business development forcivilianagencies. Primus Telecommunications
Group ofMcLeannamedPeterD. Aquino, formerly president and chief executive ofRCN, chairman, president and chief executive. Click 4 Compliance of Reston
named Jimmy Garcia-Meza exec- utive adviser focusing on global strategy, Chris Farris general counsel and vice president of op- erations and Traci Coughlan global antitrust and corporate compliance specialist. Datatel of Fairfax named Bar-
bara Polk, former senior vice president of human resources at XO Communications, vice presi- dent for human resources and administration. Echo360ofDullesnamedRich-
ard Taylor, founder and former president of WiseChoice, chief marketing officer.
Associations/ nonprofit organizations
Volunteers of America of Alex-
andria named Nancy Gofus, for- mer senior vice president and chief marketing officer for Veri- zonBusiness, chairof thenational board of directors. Farmworker Justice of the Dis-
trict named Jessica Felix-Rome- ro, formerly with the Council of Better Business Bureaus, commu- nications director. The Fund for Peace of the Dis-
trict named Ken Brill, retired am- bassador, president. American Forests of the Dis-
trict named Scott Steen, former director of the American Ceram- ics Society, chief executive. Air Transportation Association
of America of the District named Nick Calio president and chief executive.
Communications Porter Novelli of the District
namedDebraCabral, formergen- eral manager and senior manag-
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 attempts 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.
MARYLANDDISTRICT GREENBELT
LTE Group LLC 4619 Governor Kent Ct., Upper Marlboro, Md. 20772 Type of filing: Chapter 7 liquidation Case number: 10-36846 Date filed: Nov. 28 Attorney: Bennie Brooks, 301-731-4160 Assets: zero to $50,000 Liabilities: $100,001 to $500,000 Largest unsecured creditor: Capital Centre, $60,000 Good Luck Condominiums LLC P.O. Box 310, Ashton, Md. 20861
Type of filing: Chapter 11 reorganization Case number: 10-36929 Date filed: Nov. 29 Attorney: Marc Ominsky, 443-546-4608 Assets: $1,000,001 to $10 million Liabilities: $1,000,001 to $10 million Largest unsecured creditor:Thomas Norris, $160,000 Heritage Land LLC P.O. Box 310, Ashton, Md. 20861 Type of filing: Chapter 7 liquidation Case number: 10-36934 Date filed: Nov. 29 Attorney: Marc Ominsky, 443-546-4608 Assets: $50,001 to $100,000 Liabilities: $50,001 to $100,000 Largest unsecured creditor: Thomas Norris, $160,000 Piazza Construction LLC 18801 Keiffer Way, Montgomery Village, Md. 20886 Type of filing: Chapter 11 reorganization Case number: 10-371oo Date filed: Nov. 30 Attorney: Anu KMT, 301-982-0888 Assets: zero to $50,000 Liabilities: $100,001 to $500,000 Largest unsecured creditor: Not disclosed
CityTheater LLC 313 East Wilson Blvd., Suite 1, Hagerstown, Md. 21740 Case number: 10-37196 Date filed: Dec. 1 Attorney: John D. Burns, 301-441-8780 Assets: zero to $50,000 Liabilities: $1,000,001 to $10 million Largest unsecured creditor: Bogman, $556,107
DISTRICTOFCOLUMBIA
Club Venus LLC 15 K St. NE, Washington, D.C. 20002 Type of filing: Chapter 11 reorganization Case number: 10-01186 Date filed: Nov. 30 Attorney: Marvin Liss, 202-237-6300 Assets: zero to $50,000 Liabilities: zero to $50,000 Largest unsecured creditor: Euro-K Street Properties, $24,000
—Compiled by Vanessa Mizell INSIDER TRANSACTIONS FACE TIME
Monday Small-Business Tax Tips.Workshop covers tax obligations and schedules, how to legally minimize taxes and an introduction to the IRSWeb site. 9 a.m. to 12:30 p.m., American Bar Association Building, 740 15th St. NW, third floor,Washington. Sponsor: Service Corps of Retired Executives. Cost: $40. Contact: 202-272-0390. Web site:
www.scoredc.org. Branding 101: Create Your Own Personal Brand. Discover the personal branding principles that are essential to excelling. 6:30 to 8:30 p.m., 1726 20th St.NW,Washington. Sponsor: First Class Lifelong Learning Center. Cost: $39. Contact: 202-797-5102.Web site:
www.takeaclass.org.
Tuesday
Social Networking for Business. Workshop covers social media as a marketing tactic and its applicability in your marketing plan. 9 a.m. to 12:30 p.m., American Bar Association Building, 740 15th St. NW, third floor,Washington. Sponsor: Service Corps of Retired Executives. Cost: $40. Contact: 202-272-0390. Web site:
www.scoredc.org. Start Your Business. Participants will be led through the essential steps for starting a small business. 11 a.m. to 1:30 p.m., Comfort Suites, 80 Prosperity Ave., Leesburg. Sponsor: Loudoun Small Business Development Center. Cost: Preregistered, $10; at door, $15. Contact: Cathy Campbell, 703-430-7222.Web site:
www.loudounsbdc.org.
Wednesday
Interviewing for Success. Learn about different types of interviews, how to prepare and follow-up strategies. 11 a.m. to 1 p.m., Kensington Park Library, 4201 Knowles Ave., Kensington. Sponsor: Montgomery County Public Libraries, Montgomery County Commission for Women, Counseling and Career Center.Web site: www.
montgomerycountymd.gov/ library.
Thursday
How to Start a Business.Workshop covers legal forms of business
organization, marketing on a small budget and types of loans. 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. Cost: $60. Contact: 202-272-0390.Web site:
www.scoredc.org. Starting a Business in Arlington. Seminar teaches you how to get a business license, a certificate of occupancy and state registration. 6 to 8:30 p.m., Arlington Central Library, 1015 N. Quincy St., Arlington. Sponsor: Arlington Economic Development and Arlington County Public Library. Contact: Tara Palacios,
tpalacios@arlingtonva.us or 703-228-0853.Web site:
www.arlingtonvirginiausa.com/ bizlaunch. All A-Twitter: Get Savvy about Linkedin, Facebook and More. Seminar will explain how social media have empowered small- business marketing and how these online platforms are used to expand business. 6 to 8:30 p.m., George
Washington University Virginia Science & Technology Campus, Exploration Hall, Room 101, 20101 AcademicWay, Ashburn. Sponsor: Loudoun Small Business Development Center. Cost: Preregistered, $25; at door, $30. Contact: Cathy Campbell, 703-430-7222.Web site:
www.loudounsbdc.org.
Friday
PrepareWinning Federal Proposals.Workshop discusses how to respond to federal government requests for proposals. 9 a.m. to 12:30 p.m., American Bar Association Building, 740 15th St. NW, third floor,Washington. Sponsor: Service Corps of Retired Executives. Cost: $40. Contact: 202-272-0390. Web site:
www.scoredc.org.
Send potential listings to
facetime@washpost.comat least two weeks in
advance.Model your entry on the information above and put the event date in the subject line.
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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
Advance Auto Parts Advisory Board
AES American Capital Amerigroup AvalonBay Communities Deltek Eplus
Glen Burnie Bancorp GTSI
Markel Maximus Medifast
Orbital Sciences Owens & Minor RGC Resources Saul Centers
Sinclair Broadcast Group Supertel Hospitality UDR
Versar WSB Holdings Insider
John C. Brouillard David L. Felsenthal Michael T. Kirshbaum Mark Woodruff Brian S. Graff Stan Lundine
Uwe E. Reinhardt James W. Truess Bryce Blair
Sean J. Breslin Bruce A. Choate Holly C. Kortright Carolyn J. Parent
Lawrence S. Herman Norman E. Harrison Jr. Sandra B. Gillespie Anthony F. Markel Bruce L. Caswell
Marilyn R. Seymann Leo V. Williams III Janice I. Obuchowski Grace R. den Hartog Dale P. Lee-Moore B. Francis Saul II David D. Smith Kelly A. Walters
Thomas A. Spangler Ruth I. Dreessen Carol A. Ramey
Title Director
President CFO
Officer Officer Director Director CFO CEO
Officer Director Officer Officer Director Director Officer
Officer and director Divisional officer Director Officer Director
General counsel Officer CEO
Director/Owner CEO
Officer Director CFO
Date
Nov. 24 to Nov. 26 Nov. 22 Nov. 22 Nov. 22 Nov. 26 Nov. 22 Nov. 30 Nov. 24
Nov. 22, Nov. 23 Nov. 30 Nov. 29 Nov. 23 Nov. 29 Nov. 22 Nov. 23 Nov. 30
Nov. 23 to Nov. 30 Nov. 24 Nov. 30 Nov. 29 Nov. 22 Nov. 24 Nov. 23
Nov. 26 to Nov. 29 Nov. 24 Nov. 24 Nov. 30
Nov. 29, Nov. 30 Nov. 29, Nov. 30
Action Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold
Bought Sold Sold Sold Sold Sold Sold Sold Sold
Bought Sold
Bought Sold
Bought Sold
Shares 5,000 6,212 875
54,901 2,026
13,000 15,001 2,700
97,431 2,618 2,500
10,000 4,225 3,600 135
2,034
67 to 67.34 47.59 47.65 11.06 7.35 7.49
43.50 45.25
108.41 to 109 110
108.74 7.12 7.09
24.01 8.20
4.75 to 4.76
5,793 352.40 to 359.21 2,000 965
1,000 992
9,000 80
10,800 9,308
10,000 5,413 9,600 6,000
61.79
61.01 to 61.02 24.10 16.41 29
30.52
43.17 to 43.80 8.28 1.45
22.38
3.21 to 3.22 2.40 to 2.55
Price Now holds 13,105 23,510 2,080
57,605
522,518 23,728 17,048
134,950 257,830 7,057
52,134
110,581 131,394 10,444 2,404
12,000
153,420 10,403 2,637
15,000 27,532 42,884 17
6,732,530 751,787 215,000 38,824 22,588 38,368
-- Thomson Financial
ing director of public affairs for Financial Dynamics, executive vice president of its public servic- es.
Real estate Urban Igloo of the District
namedBryanZupan, former leas- ingmanager, salesmanager.
Financial Seale&Associates of Arlington
named Henry W. Lavine senior director. TheCertifiedFinancialPlanner
Board of Standards of theDistrict named Jason F. Ruimerman, for- merly with Van Kampen Invest- ments Management, director of business development. Wachovia of McLean named
ShelleyHendrickson, formerSan Francisco Bay business banking divisionmanager, business bank- ingmanager.
Legal Manatt,Phelps&Phillips of the
District named Stephanie Kan- wit counsel in the health-care practice group.
Send information about promotions, appointments and personnelmoves in theWashington area to Appointments,BusinessNews, The Washington Post, 1150 15th St.NW, Washington,DC 20071-5302, or to
appointments@washpost.com.
KLMNO
EZ SU
A17
Bernanke does TV interview to defend Fed bond purchases
BY JEANNINE AVERSA Federal Reserve Chairman Ben
S. Bernanke is stepping up his defense of the Fed’s $600 billion Treasury-bondpurchaseplan,say- ing the economy is still struggling to become “self-sustaining” with- out governmenthelp. In a taped interviewwith CBS’s
“60 Minutes” that aired Sunday night, he also argued that Con- gress should not cut spending or raise taxes given how fragile the economy remains. Bernanke said he thinks anoth-
er recession is unlikely. But he warned that the economy could suffer a slowdown if a persistently high unemployment rate damp- ens consumer spending. The interview is part of a broad
counteroffensive Bernanke has been waging against critics of the bond purchase plan the Fed an-
nouncedNov.3.Thepurchasesare intendedtolower long-terminter- est rates, lift stock prices and en- courage more spending to boost the economy. Critics, from Republicans in
Congress to someFedofficials, say they fear that the Fed’s interven- tioncouldspur inflationandspec- ulative buying on Wall Street whiledoing little for the economy. On other issues in the “60Min-
utes” interview,Bernanke: l Said unemployment would
have been far higher — “some- thinglike itwas intheDepression, 25 percent” — had the Fed not provided extraordinary aid to Wall Street firms, banks andother companies to ease a credit crisis. l Said it could take four or five
more years for unemployment, now at 9.8 percent, to fall to a historicallynormal 5 or 6percent. l Reiteratedthat theFedispre-
pared to buy even more than $600 billion in Treasury bonds overthenexteightmonths,should
it decide the economy needs the fuel of evenlower interest rates. l Argued that the risk of infla-
tion is overblown. Bernanke said he is “100 percent” confident that the Fed will be able to ward off inflation, when the time is right, by raising interest rates and un- winding its stimulusprograms. l Called the risk of deflation—
a prolonged drop in prices,wages, and the values of houses and stocks—“pretty low.” He said the likelihoodwould have been great- er if the Fedwere notmaintaining super-lowinterest rates. l Urged Congress to improve
the nation’s tax code “by closing loopholes and lowering rates” for individuals and companies. He saiddoing sowouldcreate greater incentives forpeople to invest. In material from the interview
that was not broadcast but was later posted online in video form, Bernanke reiterated his view that an artificially lowChinese curren- cy is “badfor theAmericanecono- my because it hurts our trade.” It isn’t helpful for Beijing, either, he said,becauseitmakes itharder for China to keep its economy and inflationfromoverheating. Critics who fear that the Fed’s
bond purchases are raising the risk of inflation have complained that the purchases mean the Fed is, in effect, printingmoremoney. Bernanke called that a “myth.”He insisted the Fed isn’t printing moneywhenitbuysTreasurysand said the programwill not expand the amount of money in circula- tion in a “significant way.” Lou Crandall, the chief economist at Wrightson ICAP, said Bernanke is right that the Fed’s purchaseswill not significantly change the amount of money circulating in the economy. That’s mainly be- cause banks are not lendingmost of themoney they already hold in reserve.When the Fed buys Trea- surys, it increases the reserves in
the banking system. For those re- serves to “create” money, banks wouldhave to lendit. Still, Crandall suggested that
the bond-buying programcreates theappearanceofprintingmoney, something that could put the cen- tral bank’s credibility at stake. Bernanke’s appearance Sunday
night is part of a public relations blitz he mounted after the Fed announced the programNov. 3. In private and public appearances, he has sought to explain and de- fend the program to ordinary Americans, investors and law- makers onCapitolHill. His efforts have included an
op-ed article in The Washington Post and discussions with stu- dents andbusinesspeople around theUnited States, central bankers in Europe and members of the Senate banking committee. Criticism has come from both
home andabroad.Officials inChi- na, Germany, Brazil and other countries have argued that the Fed’s plan is a scheme to give U.S. exporters a competitive edge by keeping the value of the dollar weak. A weak dollar makes U.S. goods cheaper abroad and foreign goodsmore expensive intheU.S. It’s rare for a sitting Fed chair-
mantograntanewsinterview.But this was Bernanke’s second ap- pearance on “60 Minutes.” His first was in March 2009. At the time, he was facing anger about Wall Street bailouts and rising anxiety about the economy. In the interviewthat aired Sun-
day,Bernankepointedout that the economy is growing at an annual pace of about 2.5percent—far too slowto reduce theunemployment rate. Bernanke has said he hopes the
Fed’s bond-buying program will help lift stock prices, contributing toa “virtuous cycle”of confidence, wealthandspending. —AssociatedPress
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