| |
After an initial surge, shares of SAIC Inc., a San Diego defense-engineering firm, lost steam last week. But the initial public offering delayed until Oct. 13 was still viewed as a success by analysts. Theyre at the right spot at the right time, and have a great reputation, said Alex Hamilton, an analyst with Benchmark Co. LLC in New York. If youre a long-term value investor, it might not be a bad place to get in. After 37 years as an employee-owned firm, SAIC decided last year that it would go public to provide liquidity to shareholders, all of whom are employees. By issuing $75 million in stock, the company opened equity ownership to any investor willing to pony up the market price, or about late last week around $17.31. At that price, SAIC Inc., now trading on the New York Stock Exchange under the ticker SAI, had a market capitalization of about $7 billion, the third largest among local public companies.
Before joining the Roanoke City Council, Bev Fitzpatrick sat on the Roanoke Redevelopment and Housing Authority board for a year while he was a paid associate in a private consulting firm that had close to $1 million in contracts with the authority, according to documents obtained by The Roanoke Times. Fitzpatrick says he doesn't believe the relationship created a conflict of interest. Records show that during his time on the authority board, Fitzpatrick voted on at least three matters associated with an overhaul of the Lincoln Terrace housing development. The Lincoln Terrace project was managed by the firm for which Fitzpatrick worked -- The Issues Management Group. His votes included approval of a budget that involved federal tax money to be paid to IMG. Fitzpatrick, in a one-page statement to the newspaper, wrote that he worked as a part-time consultant on a limited number of IMG projects, and that "at no time while I served on the authority's board did I perform any work with IMG that involved the authority." Fitzpatrick did not elaborate on the work he did perform for IMG during that period.
LOS ALAMOS -- With job cuts looming at the nuclear weapons lab that is this town's bread and butter, even the German shepherd on a flier tacked to a bulletin board is looking anxious."Due to cutbacks at the LANS, my family has to move. ... As much as they want to, they can't take me with them," it says.The pooch's plea: A loving family willing to play fetch.The recent announcement by Los Alamos National Security LLC, the lab's new operator, that hundreds of contractors' positions must be cut because of budget problems has the town on edge."We've all been on a bit of a roller coaster here," motel owner John Smallwood told the lab's deputy director, John Mitchell, at a Chamber of Commerce business breakfast last week."Los Alamos is a company town, and whether we like it or not, this company, this board of directors, is making decisions for us," said Smallwood, who relies on contractors to fill his motel rooms.The number of cuts is not yet clear.
A day after his wife took the hit on charges he faced when he skipped town, the home improvement contractor accused of bilking Staten Island homeowners of thousands of dollars yesterday surrendered to authorities. Jim Cartrette, 38, of Annadale, was two days late when he turned himself in to detectives at the district attorney's office yesterday morning on charges of forging clients' checks and scamming other Island homeowners on the contracted promise of home improvements. Law enforcement sources said Cartrette was in Ohio when he learned that his wife, Ina, was arrested Friday on charges of stealing more than $50,000 in property and engaging in a systematic scheme to defraud homeowners who did business with their company, J&I Contracting. After Mrs.
|
|
