NewsWatch: oard of Trade names new president, CEO

Friday, May 26, 2006

James C. Dinegar, COO of the American Institute for Architects, has been named president and CEO of the Greater Washington Board of Trade, officials said Thursday. He will start July 10.

Dinegar will take over for Robert A. Peck, who grew up in Wheaton and was president of the regional business organization for four years through last December. Senior Vice President Berta Maginniss has headed the group on an interim basis since then.

Dinegar, an Arlington, Va., resident and graduate of The Catholic University of America in Washington, D.C., oversaw a 65 percent revenue growth to $56 million between 1999 and 2006 with the architectural organization.

Sales slip at Giant

Sales slipped 2 percent during the first quarter for Giant Food of Landover, according to a filing this week with the U.S. Securities and Exchange Commission.

The Stop & Shop⁄Giant-Landover division, headquartered in Quincy, Mass., reported $4.9 million in net sales during the first quarter, down from $5 million the prior-year quarter. Royal Ahold NV of the Netherlands, which owns Giant, earned $5.8 billion in net sales in the first quarter, a 3.8 percent increase from the prior-year quarter.

Bank offersfree credit service

Mercantile Potomac Bank, a subsidiary of Baltimore banking company Mercantile Bankshares Corp., is offering about 49,000 customers a one-year subscription to a credit-monitoring service after the theft of a laptop computer containing customer information.

Officials do not believe data have been misused after the laptop was stolen on May 5 from the car of an employee who had customer information that included social security and account numbers on the computer, said Stephen K. Heine, senior vice president for Mercantile Bankshares’ client service group.

Asbury sellsBoonsboro facility

Asbury Communities Inc. of Gaithersburg, a not-for-profit senior living provider has made an agreement to sell its Reeders facility in Boonsboro to Tandem Health Care of Florida. Reeders has operated in Boonsboro since 1971, and under the management of Asbury Communities since 2000.

The agreement will provide Reeders the opportunity to completely pay off its existing debt. When Asbury affiliated with Reeders in 2000, Reeders faced a debt of nearly $6 million. Since then, Reeders has reduced its debt by more than 25 percent, and increased private pay admissions, according to Asbury information.

Opnet reportsrecord profit

Opnet of Bethesda, a provider of management software for networks and applications, reported record quarterly gross profit of $16.5 million, driven by new software license revenue of $9.3 million. Revenue was $21.3 million for the fourth quarter ended March 31, up 2.38 percent compared to $17.2 million in the prior year quarter.

Environmental program to help companies

The Clean Energy Partnership, a Silver Spring organization that coordinates businesses to work on environmental issues, unveiled a program this week to help Maryland companies cut electric costs.

For more information, go to cleanpowerinmaryland.com or call 240-514-0189.