Here are some post-Thanksgiving Day leftovers of local lingo, Baltimore bits, Maryland memos and financial items from beyond the Beltway:
LOCAL LINGO: "Devastation of small-capitalization stocks has been the broadest in recent history; from its high point the NASDAQ index is down more than 30 percent vs. S&P 500-index off 18 percent since midyear." (Smith Barney via Rick Faby) . . . "The most sobering current condition is that of the federal government. Historically, federal coffers were full when a slowdown arrived, cushioning bumps when entitlement payouts rose and tax revenues fell. Today the government is towing a record deficit into recession; it will be hard to tame the beast." (First National Bank) . . . "The new deficit-reduction bill does nothing to reduce the structural deficit below $200 billion annually for several years to come, and the tax boost may push the deficit higher if it prolongs the recession." (Mercantile Safe Deposit & Trust Co.) . . . "Stocks of many basic industrial U.S. corporations have been savaged and represent outstanding values." (Investment Counselors of Maryland)
BALTIMORE BITS: A local savings and loan president told me "Everything is relative; I can prove anything if you let me pick the starting point. For example, if you break your leg at work, that's bad, but if you break it in front of an orthopedic hospital, that's not quite so bad." . . . The T. Rowe Price Equity Income fund is recommended by four newsletters followed by Hulbert Financial Digest . . . A Baltimore bank executive says, "Banks shouldn't stretch to fulfill earnings results that out-of-town analysts, who have never been bankers, insist on achieving. Actually, banks are supposed to have some 'down' years. Banks get in trouble when they push too hard to reach unrealistic goals." . . . Wooden & Benson (825-4860) will mail "Year-end Tax Strategies for Individuals." . . . Call Legg Mason (539-3400) for "Company Comments," with items about Baltimore Bancorporation, Chesapeake Corp., etc.