Rothschild joins with Pell Rudman
The Rothschild Co., a Baltimore investment management firm, announced yesterday that it has become affiliated with Boston-based Pell, Rudman & Co. Inc. Both are subsidiaries of United Asset Management, a Boston firm whose 40 affiliates manage about $102 billion in assets.
Rothschild President Stanford Z. Rothschild Jr., 69, is chairman of the newly renamed Rothschild/Pell, Rudman & Co. Inc., while Edward I. Rudman, 57, becomes president of the new firm. Mr. Rothschild said the company, which has $2.2 billion in assets under management, plans to open a Baltimore branch of Pell Rudman's Atlantic Trust Co. N.A., which is based in Washington.
Westinghouse bars Micros split
Micros Systems Inc.'s plans for a 2-for-1 stock split have been blocked by the company's major shareholder, Westinghouse Electric Corp.
Beltsville-based Micros said shareholders rejected the proposal at Friday's annual meeting. Westinghouse, which owns 61 percent of Micros' stock outstanding, voted against the split.
The defeat of the proposal was a surprise to Micros and left analysts puzzled.
Anheuser-Busch drops ad agency
Anheuser-Busch Inc. has abruptly dismissed the agency that has created advertising for its flagship Budweiser brand for nearly 80 years and helped make Bud the world's best-selling beer.
The brewer said yesterday that it had fired D'Arcy, Masius, Benton & Bowles Inc., which has handled advertising for Budweiser since 1915, in what was described as a move to coordinate ad campaigns for the entire Budweiser family of brands.
It gave the Budweiser brand assignment to DDB Needham, which has been creating ads for its Bud Light and Ice Draft from Budweiser brands.
York Road Plaza renovation begun
Mid-Atlantic Realty Trust said yesterday that it began renovating its York Road Plaza shopping center in Baltimore County by demolishing a bank branch and the former General Cinema building. Renovations in the center, near the Baltimore City line, will include an expanded Giant supermarket and 19,450 square feet of other new retail space.
Griffith Consumers, Holdings join
Stockholders of Griffith Consumers Co., which sells heating oil in an area ranging from West Virginia to New Jersey, have approved a $54.3 million plan to merge with Griffith Holdings Inc., the Cheverly-based firms announced yesterday.
Under terms of the merger, approved at a Nov. 11 stockholders meeting, Griffith Holdings will acquire all 2,360,000 shares of Griffith Consumers for $23 in cash per share.
Griffith Consumers reported a net loss of $1.87 million, or 79 cents per share, on revenue of $36.4 million for its fiscal first quarter, ending Sept. 30.