Industry Watch

INDUSTRY WATCH

August 08, 2004

Clients can nominate contractors for 2004 remodeler of year

Maryland homeowners who hired a licensed contractor to remodel their home this year can nominate them for Remodeler of the Year awards, which are presented by the Maryland Improvement Contractors Association.

Homeowners should contact the association to nominate a contractor. The contractor will be sent a nomination form. Contractors will be judged in 13 categories.

To nominate a contractor, send or fax your name, address, the name and address of your contractor and the category of nomination to the Maryland Improvement Contractors Association, 720 Light St., Baltimore, 21230; fax 410-752-8295; or e-mail MICA@assnhqtrs.com. Projects also may be nominated online at www.MarylandRemodelers.com/royalnominations.htm. The deadline for homeowner nominations is Sept. 15.

Ryland Homes division in Hanover is moving

Ryland Homes/Baltimore division is moving its offices Thursday.

The company's new address will be 6011 University Blvd., Suite 260 in Hanover. It is just a few minutes away from the division's current location at 7250 Parkway Drive.

Freddie Mac files papers to establish a PAC

Freddie Mac, the second-largest U.S. mortgage finance company, has decided it is all right to create a political action committee now that it has begun to provide financial reports that were delayed by accounting errors.

Freddie Mac, which ranked first in corporate donations to political groups from 2001 to 2002, filed papers Thursday with the Federal Election Commission to form the committee. The PAC will enable the company to direct contributions by its employees to individual candidates and Republican or Democratic campaign groups.

Freddie Mac's top executives held off forming the PAC while they were preoccupied with reducing the company's lag in financial reporting, spokeswoman Sharon McHale said. The reporting delays were prompted by disclosures that Freddie Mac understated earnings from 2000 to 2002 by $5 billion.

From staff and Bloomberg News reports.

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