News and notes from Reston (tm).

Wednesday, September 26, 2007

Reston's vibrant economy

PRA International, a company that specializes in clinical trials, is moving its headquarters from Reston to Raleigh, N.C. Company officials said the move would "provide ready access to a highly qualified talent pool and reduce our infrastructure costs." (Translation: In North Carolina, $234,000 can buy a McMansion instead of this -- and you can even paint it any color you like!.)

Meanwhile, a group that's long tried to orchestrate a buyout of Sallie Mae has announced that its would-be suitors are not likely to "consummate the acquisition under the terms of the merger agreement." Let's just say that's an unusually graphic description by the standards of corporate statements -- but then again, what do you expect from a company whose raison d'etre is financing college students' booze-fueled hookups?

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