March 2002
Development News
Arlington Companies in the News
Retail Spotlight
Arlington Events
New Buildings Deliver in Ballston
Three office development projects have delivered this month - 4100 North Fairfax Drive, Quincy Crossing (Quincy at Wilson), and 4501 North Fairfax Drive. 4100 is represented by Cassidy and Pinkard, Jim Hunter and Jill Goubeaux (703.770.3404 and 3403). Dave Millard and Peter Berk of Transwestern represent the other two buildings(703.749.9437 and 9438).
State Department Leases Another 57,306 Square Feet in Rosslyn
The U.S. Department of State has leased 57,306 square feet in the Twin Towers where they will take the 11th,12th, and 14th floors. They are scheduled to occupy the space in June, about the time they will be moving into some 354,000 square feet down the street at 1801 North Lynn Street.
News Channel 8 to Join WJLA at Twin Towers
Allbritton Communications Company has announced that News Channel 8, sister company to WJLA-TV, will co-locate when the TV station moves into its new space in Twin Towers this summer. Jointly, the two organizations will create the largest electronic news gathering team in the Washington region. For more information contact Christopher Pike at 202.364.7800.
ARLINGTON COMPANIES IN THE NEWS
Rosslyn Group Lands $200 Million Joint Venture Contract
Rosslyn-based Rosettex Technology & Ventures Group, a new joint venture formed by Sarnoff and SRI International, said it has landed a five-year, $200 million contract from the Bethesda-based National Imagery and Mapping Agency. Under the deal, Rosettex will develop and commercialize technologies of interest to the federal government's National Technology Alliance, which focuses on innovations useful to the nation's security and defense efforts. The Arlington-based company will enlist the help of its 64 partners, including consulting firms, research institutes and universities, for the project. The work will focus on the areas of imagery, geographic information systems and cartography; digital processing, analysis and management; and digital technology infrastructure. The company is expected to pool its profits into a venture capital fund, which will invest in the early-stage companies that will form as a result of the technology developed by its partners.
http://www.NewsAlert.com/bin/story?StoryId=CphmTubKbytiXnti&FQFlights at National Expand
The U.S. Transportation Department gave airlines permission on Feb 1 to add 10 additional cities to their flight schedules at Reagan National Airport. The additional service is part of the gradual restoration of flights at the Arlington airport since it was shut down for three weeks following the Sept. 11 terrorist attacks. The cities that had their service restored Friday are Charleston, W.Va.; Columbia, S.C.; Dayton, Ohio; Des Moines, Iowa; Grand Rapids, Mich.; Jacksonville, Fla.; Knoxville and Nashville, Tenn.; Louisville, Ky.; and Norfolk.
TeleCorp PCS Merges with AT&T Wireless
Shareholders of Arlington-based TeleCorp PCS, a wireless phone provider, approved the company's previous announced merger with AT&T Wireless Services at a special meeting held on Feb 7. Pending regulatory approvals, the merger is expected to be completed on February 15. "Over 94% of the votes cast were in favor of the merger," said Gerald Vento, CEO of TeleCorp PCS, Inc. "We're pleased that our shareholders recognize the value created through this merger."
United Defense Earnings are Up
United Defense Industries, an Arlington-based maker of combat vehicles, artillery and other heavy war gear, said it earned $6 million (14 cents per share) on revenue of $404.7million in the fourth quarter, its first as a public company. In the fourth quarter a year earlier, United earned $3.7 million ( 9 cents) on revenue of $316.5 million). Officials attributed the improved results to more sales volume and the lowering of debt levels. For the year, United earned $8.8 million (20 cents) on revenue of $1.3 billion, compared with $18.8 million (44 cents) on revenue of $1.2 billion in 2000. The earnings decline was attributed to charges associated with the company's initial stock offering and subsequent recapitalization.
http://www.newsalert.com/bin/story?StoryId=CpgYv0bWbueHgmdeW&FQtelezoo.com Introduces New Tools
Arlington-based telezoo.com, a provider of an online catalog and commerce platform for telecommunications products and services, has launched a new website called TelecomPlanet.com in partnership with Advanstar Communications, a business information company. The new service is dedicated to productivity tools and information for telecommunications professionals.
http://www.newsalert.com/bin/story?StoryId=CpfD90bKbyta0mJG&FQ
CACI Closes $185 Million Credit FacilityWith its share price up over 100% during the last year, Arlington-based CACI International, a developer of information technology and communications software for the government sector, said in mid-February that it closed a new five-year, $185 million credit facility led by Bank of America. The new arrangement replaces an existing bank credit facility of $125 million that has been in place since June 1998.
Just one day after announcing the new $185 million credit facility, CACI announced another measure aimed at raising cash. The company, which could pursue more acquisitions, said that it plans to raise approximately $159.5 million through a public offering, selling 4.25 million shares of its common stock. CACI announced a five-year, $185 million credit facility led by Bank of America, replacing an existing $125 million facility in place since 1998.
http://www.caci.com/NewsRelease_folder/news2002/02_07_02_NR.html
http://www.caci.com/NewsRelease_folder/news2002/02_07_02_II_NR.htmlNVCA: VC Funds Have Large Amounts of Uninvested Capital
The Arlington-based National Venture Capital Association and Venture Economics, a research firm, said on Monday that venture capital firms raised $40.6 billion in 2001, the third-largest year on record. However, the amount of new capital raised by venture capital firms slowed considerably in the fourth quarter to $4.6 billion. The association said that an unusually high amount of uninvested funds are currently held by venture capitalists -- largely because of their cautiousness toward new investments. "Like the technology companies that VCs invested in, which now have a lot of unsold inventory, the private equity industry as a whole has a substantial inventory of approximately $100 billion of uninvested capital," said Jesse Reyes, vice president of Venture Economics. "So it is not surprising that the appetite for increased commitments in this asset class has been sated."
http://www.newsalert.com/bin/story?StoryId=CpgDp0bWbtLLnmdeZ&Local Firms Win Lucrative Air Force Deal
Eight local firms have won a 5-year Air Force deal with a total estimated value of $650 million. The eight companies could receive as much as $1 billion under the technology services deal if all options are exercised. Some of the local companies involved include Arlington-based Advanced Management, Reston-based TRW, McLean-based NCI Information Systems, Annapolis-based ARINC, Virginia Beach-based Computer & Hi-Tech Management and DC-based DekaTron. Work to be performed includes networking, systems, software support, engineering, and support services.
http://biz.yahoo.com/prnews/020211/dcm013_1.html
USAriways Names New CEOAmerica's sixth largest passenger carrier, USAirways, has appointed David N. Siegel as its president and CEO. Siegel comes to USAirways, and Arlington, from Avis Rent a Car. He has an established track record in the airline industry where he served as president of Continental Express from 1995-1999. He has also worked for Northwest Airlines. For more information http://www.usairways.com/corporate/press/nw_02_0306.htm.
SABIT (Special American Business Internship Training) Program Has $1.5 Million in Grants for U.S. Companies
The U.S. Department of Commerce SABIT Program provides funding to U.S. organizations to conduct stateside training for business executives and scientists from Russia and the New Independent States. SABIT is a low-cost/low-risk way to develop existing relationships with NIS companies. For U.S. organizations interested in expanding to the NIS market, SABIT can help identify a potential partner and defray the costs of 'trying out' the relationship.
- U.S. organizations, both profit and non-for-profit, may apply
- Training internships may be from three months up to six months
- Companies may bring up to 10 professionals from the NIS for training
- U.S. organizations may nominate their own NIS colleagues for training or select from SABIT's pool of candidates
SABIT will reimburse the U.S. organization for the round-trip airfare, local accommodation expenses, and a per diem.
SABIT welcomes applications from organizations involved in many types of business ventures including, but not limited to; biotechnology, computer technology, medical and disease research, environmental protection, industrial chemicals, pharmaceuticals, power engineering, agribusiness, forestry, and waste management.
Organizations that are awarded grants may select one or more NIS professionals from SABIT's pool of candidates, or they may propose their own NIS colleagues for internships. U.S grantee recipients are encouraged to train their interns in American methods of innovation and management in such areas as strategic planning, financing, production, distribution, marketing, accounting, retailing, and labor relations. SABIT welcomes applications from organizations involved in many types of business ventures and many areas of scientific inquiry, including agribusiness, biotechnology, computer technology, medical and disease research, environmental protection, industrial chemicals, pharmaceuticals, power engineering, and waste management. The deadline for applications is April 15, 2002. For more information visit http://www.mac.doc.gov/sabit/sabit.html or contact Tracy Theisen at 202-482-0073 or Tracy_Theisen@ita.doc.gov
Visit SABIT's Web site, at www.mac.doc.gov/sabit/sabit.html.
Retail Openings
Crate & Barrel has now joined Pottery Bard and the Container Store at Market Common in Clarendon. The projects several restaurants are still on target to open by the end of the month. To the south, DSW Shoe Warehouse opened on March 8th at Pentagon Row in Pentagon City.
ON THE TOWN IN ARLINGTON
The Arlington Retail Council is developing a spring consumer campaign - On the Town In Arlington - that will feature cable, web and print promotions for shopping, dining and entertainment in all of Arlington's shopping districts. The Retail Council is comprised of Arlington Economic Development, Arlington's major retail properties, the Arlington Chamber, and the four public private partnerships. Think of Arlington as your place to shop, dine, and have a good time! For more information, contact Janice Landfair at jlandfair@arlingtonvirginiausa.com.
NATIONAL IT WORKFORCE CONVOCATION
TO BE HELD IN ARLINGTON, VIRGINIAArlington-based Information Technology Association of America (ITAA) will hold its fifth annual National IT Workforce Convocation will be held May 6-7, 2002 at the Hyatt Arlington in Arlington, VA.
The Convocation 2002 will bring together more than 300 national leaders from the IT industry, education, and government to discuss ways to build America's IT workforce and to highlight programs that are expanding education and training opportunities for all groups. Sessions will be organized around four major tracks: Education in the E-Environment; Recruitment and Retention; Public/Private Partnerships; and Diversity and Image.
The event will feature keynote presentations from leading executives from industry, education, and government, including:
* The Honorable Rod Paige, U.S. Secretary of Education NEW!
* The Honorable Elaine L. Chao, U.S. Secretary of Labor
* Alfred Berkeley, Vice Chairman, NASDAQ Stock Market
* Phillip Clay, Chancellor, Massachusetts Institute of Technology
* Rita Colwell, Director, National Science FoundationThe Convocation will be held at the Arlington Hyatt in Arlington, Virginia, 1325 Wilson Blvd in Rosslyn. For complete details on this important conference, including registration, hotel accommodations, and sponsorship opportunities, visit www.itaa.org/workforce and click on National IT Workforce Convocation.
For more information on Arlington, contact
the Arlington Department of Economic Development
1100 North Glebe Road, Suite 1500, Arlington, Virginia 22201
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