More News

New College Park firm consults on social media

Khan & Associates has opened in College Park.

The consulting firm focuses on helping business and political clients understand social and new media.

Washington Savings posts $5.7 million loss in '09

WSB Holdings of Bowie, parent of Washington Savings Bank, reported a net loss of $5.7 million last year, versus a profit of $236,000 in 2008. Its total assets fell to $438 million from $455 million.

Its fourth-quarter profit fell to $209,000 from $327,000 in the same period in 2008.

"While we have made progress in the resolution of distressed credits and we have seen some early signs of economic improvements, the lingering challenges caused by the recession and the impact of uncertain real estate valuations, resulted in the Company increasing our reserves by an additional $100,000 in the fourth quarter. Although we are disappointed in the need for the additional reserves, we feel this is consistent with our philosophy of aggressively and proactively dealing with our asset quality issues," CEO Phillip C. Bowman said in a statement.

The company also suspended its cash dividend for shareholders.

Bowie chamber launches

new youth program

The Greater Bowie Chamber of Commerce is receiving applications for its 2010-11 Youth Leadership Bowie program and $500 Women in Business scholarship.

Through site visits, lectures and informal discussions, participants in the leadership program will be shown how major decisions are made and who makes them, with an emphasis on current issues.

The program accepts Bowie teenagers who will enter their sophomore or junior years in high school in September.

The scholarship is open to Bowie women who work, are 18 or older, and have a high school diploma or equivalent. Applicants must show a history of community involvement.

The application deadline for both programs is May 7. Information: www.bowiechamber.org.

Green energy business

joins UM incubator

Energy Dense Power Systems has joined the University of Maryland's Maryland Technology Enterprise Institute's Technology Advancement Program incubator in College Park.

The company's environmentally friendly products combine lithium-ion battery packs with its power management system to provide lightweight energy storage, according to company information.

Business school, USAID partner in competition

The University of Maryland's Robert H. Smith School of Business and the U.S. Agency for International Development are teaming up to create the Global Challenge, in which business and other graduate students form a public-private alliance that allows private enterprises to meet long-term business goals while contributing to international development in a specified region.

Through the challenge, students will have the opportunity to connect with experts in international development and business and receive guidance, according to a university statement.

The top prize is $5,000, and winners will also have their work published.

Information: www.rhsmith.umd.edu/globalchallenge.

India business group

has new president

The Maryland India Business Roundtable in Largo has named Rajan Natarajan president.

Natarajan has been an executive vice president with several startup information technology and biotech companies and has been heavily involved in promoting U.S.-India trade and technology commercialization.

Names & Notes items may be mailed to Lindsey Robbins, The Gazette, 13501 Virginia Manor Road, Laurel, MD 20707; faxed to 240-473-7501; or e-mailed to lrobbins@gazette.net.