Washington's Olympics bid comes up short [CapBiz A.M.]

Your first source for understanding business in greater Washington  •  Fri., Jan. 9, 2015 View in your Web browser

Washington’s Olympics bid comes up short

Welcome to CapBiz A.M., your morning primer on business news with a focus on Washington. D.C. declined: The U.S. Olympic Committee has selected Boston over three other finalists — Washington, Los Angeles and San Francisco — as the city it would submit to the International Olympic Committee as the American candidate for 2024. (WP) Green light given: After more than a year of delays, Metro’s board of directors has approved the outline of a 2.7 million-square-foot project in New Carrollton, setting the stage for construction to begin on the first phase of the project in 2016. (CAPBIZ) District’s direction: District Mayor Muriel E. Bowser has appointed Brian Kenner as her deputy mayor for planning and economic development, recruiting him from the City of Takoma Parkamid a reshuffling of the city’s agencies. (CAPBIZ) New trade opportunities:Cuba’s top diplomat in the United States traveled to Virginia’s capital this week amid new hope that sweeping changes in U.S.-Cuba policy will bring major business opportunities to the commonwealth. (CAPBIZ) Foreclosures looming: New rules put in place in April are expected to lead to an increase in foreclosures this year in the nation’s capital. So why aren’t local housing advocates complaining about the change? (WP) Moves by Macy’s: Macy’s plans to restructure its merchandising and marketing operations in response to changes in the way customers shop in stores and online. It may even create an off-price business similar to a TJ Maxx. (AP)

Ambitious college plan: President Obama will propose a new program to waive tuition for many community college students, an ambitious plan that would expand educational opportunitiesfor millions of Americans. (WP)

Wall Street war: DuPont is about to face one of the biggest challenges in its two centuries as an industrial powerhouse: A fight with one of Wall Street’s most prominent activist investors over its board. (NYT)

On Wall Street

Stocks posted more strong gains on Thursday, with several key benchmarks moving into positive territory for the year. (Get the latest updates here)

What’s on tap today

U.S. employment report (8:30 a.m.)

Wholesale trade report (10:00 a.m.)

Help: These are the only three things you need to be an entrepreneur. (ENT)

Follow: Boston 2024

Extra: Ready for a 21-day financial fast? (WP)