• Ft. Ritchie Developer Recognizes $28M Loss on Investment

    Corporate Office Properties Trust (COPT), the company planning to convert the former Fort Ritchie in north central Maryland into a mixed-use development, last week said it would mark down the value of its $28 million investment in the site to zero. The Columbia, Md.-based developer’s decision to recognize the non-cash loss comes after the Army revealed it had tested tactical herbicides, including Agent Orange, at the post …

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  • Budget Deal Done, But Details Still Closely Held

    Appropriations staff continued to work Monday to turn Friday’s last-minute compromise over fiscal 2011 spending into legislation while the rest of Washington, D.C., catches its breath after coming within 90 minutes of witnessing a federal government shutdown. Final language for the deal, which cuts $38 billion from previous spending levels, was expected to be released Monday night …

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  • One, Not Two, Europe-Based Brigades to Return Stateside

    The Pentagon will bring home one of its four Europe-based brigade combat teams, a change from its 2004 plan to withdraw two of the units and reduce U.S. forces in Europe from 100,000 to 60,000. The original plan was suspended over concerns that it would hamper the military’s ability to respond to trouble in Africa and the Middle East, and leave it unable to fulfill its commitments to NATO and to engage effectively with its allies …

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  • Troops Still Suffer at the Hand of Predatory Lenders

    Five years after the Pentagon highlighted the problems payday lenders inflict on service members and their families, military personnel are still getting in financial trouble as a result of predatory lending, reports DailyFinance.com. Congress limited lenders to charging 36 percent interest on certain types of loans, but the industry has found ways to skirt the rules …

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  • If Gates Leaves, Everyone Will Know It

    With Defense Secretary Robert Gates slated to depart before the end of the year, the Washington Post writes about two potential candidates to replace him — Leon Panetta, director of the CIA, and Ray Mabus, secretary of the Navy. Panetta, a surprise candidate for his current post, likely would continue Gates’ initiative to streamline the department and reform the weapons acquisition process …

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  • Army Taps SunCal for Milcon Exchange at Camp Parks

    In the largest “milcon exchange” in Army Reserve history, SunCal Cos. will construct $80 million worth of much-needed facilities at Camp Parks Reserve Forces Training Area in northern California in return for 180 acres of land at the post where the Irvine, Calif.-based developer will build a master-planned community. SunCal will construct a new main gate, an administrative building for base police, a maintenance support facility, a regional medical training facility, an Army Reserve training facility …

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