State gets marketing directorGov. Parris N. Glendening...

BUSINESS DIGEST

March 11, 1995

State gets marketing director

Gov. Parris N. Glendening named yesterday a Maryland marketing director who will work with all state agencies on issues ranging from business development to teen pregnancy.

Tim Ayers, who has been the governor's communications director and previously worked for Mr. Glendening in Prince George's County, will be responsible for statewide marketing, public relations and advertising. He will be based in the Department of Economic and Employment Development and will work with that agency as it markets Maryland to businesses.

His assignments include coordinating public information programs, including efforts to reduce teen pregnancy and discourage smoking.

Cole named to Provident board

Provident Bank of Maryland yesterday said it elected Charles W. Cole Jr. to its board of directors. Mr. Cole is vice chairman of Brown Advisory & Trust Co. and senior adviser to Brown Asset Management, both affiliates of Alex. Brown Inc. Until last year, Mr. Cole was chief executive officer of First Maryland Bancorp and its main subsidiary, the First National Bank of Maryland.

Consumer credit jumps

Consumer credit shot up at a strong 10.1 percent annual rate in January, the Federal Reserve reported yesterday.

The Fed had said earlier this week that credit rose $3.7 billion -- 4.8 percent -- but corrected the figure to $7.6 billion. It said previous data for its "other credit" category -- lending for mobile homes, education, boats, trailers and vacations -- had been miscalculated.

Viacom completes Garden sale

Viacom Inc. said yesterday it has completed the $1 billion-plus sale of the company's Madison Square Garden division to a partnership of ITT Corp. and Cablevision Systems Corp.

The division operates the famous New York sports arena and the two professional New York sports teams that call the facility home, basketball's Knickerbockers and hockey's Rangers, and the MSG regional sports cable network.

The companies agreed on the deal last August, but it required a number of clearances, including approval by the National Basketball Association and the National Hockey League.

Cellular phone bills decline

Cellular rates continued to drop last year, with the average monthly customer bill falling to $56.21, compared to $61.48 a year earlier, according to an industry survey released yesterday.

The Cellular Telecommunications Industry Association said the average monthly customer bill in 1994 was down 41 percent from 1987, when monthly bills averaged $96.83.

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