Fisher, Eric, The Washington Times (Washington, DC)
First Virginia Banks earnings climb
First Virginia Banks of Falls Church reported net income for its first quarter ended March 31 rose 4 percent to $29.4 million (91 cents per share) from $28.4 million (84 cents) during the same quarter last year.
American Management wins Pentagon contract
American Management Systems, a Fairfax information technology consulting company, said it won a nine-year contract to streamline the Defense Department's procurement process. The deal could be worth up to $235 million.
Integrated Health kills Coram deal
Integrated Health Services Inc. said it ended its agreement to acquire Coram Healthcare Corp. for $551.5 million in stock and assumed debt. Integrated Health said a "number of factors" led it to terminate the proposed transaction. It didn't elaborate.
Owings Mills, Md.-based Integrated Health in October agreed to buy Coram in order to expand the services it offers seriously ill patients outside the hospital. The combination would have created the biggest U.S. home health company.
USF&G president got 26 percent raise
The president and chief executive officer of Baltimore-based USF&G Corp. received a 26 percent increase in his pay package last year.
Norman P. Blake Jr.'s pay package totaled $3.1 million, according to the company's proxy statement. He received a $2.1 million bonus on top of a base salary of $858,815, plus $153,223 in other compensation. He also was granted options to buy 252,900 more shares of company stock. …