Business Digest

BUSINESS DIGEST

October 15, 2004

In The Region

MaggieMoo's plans 7-store expansion in the area by Jan. 1

MaggieMoo's International LLC, which owns and franchises more than 138 small-batch ice cream shops in 30 states, is planning to expand throughout Maryland, Delaware, Virginia and Washington, with seven new locations scheduled to open by the end of the year and 40 new shops planned by 2009.

Four new stores will open this year in Maryland - in Bel Air, at Baltimore-Washington International Airport, in Bowie and in Rockville. Three will open in Leesburg, Va.

The Columbia-based ice cream retailer says it's on track to have 1,000 stores nationwide by 2009, two years later than had been announced before a new management team took over and adjusted the expansion goal.

Eight area companies win `Bridging the Gap' awards

Eight Baltimore-area companies have been named winners of the Greater Baltimore Committee's inaugural Bridging the Gap Achievement Awards, which honor minority firms for business achievement and people who help strengthen minority business opportunities in the region.

The awards program is part of the Bridging the Gap initiative sponsored by the Greater Baltimore Committee, a regional organization of business and civic leaders, in alliance with the Presidents' Round Table, an organization of African-American chief executive officers in Baltimore.

The winners were American Skyline Insurance Co., Respira Medical, USmax Corp., P. Flanigan & Sons, Inc., Bank of America in partnership with the Harold A. Dawson Co. Inc. and Essex Construction LLC in conjunction with Barton Marlow. The winners were chosen by a panel of judges from 31 nominations submitted by businesses and other organizations, employees, customers, elected officials and government agencies.

Establishments to offer discounts today to mothers

More than 100 Baltimore restaurants, spas and salons will offer mothers discounts and awards today as part of a marketing campaign sponsored by ClubMom, a national membership organization for mothers.

Founded as a grass-roots initiative in 1999, ClubMom leverages its 1.5 million members to get discounts from major companies. The group says mothers and their $1.7 trillion in annual spending are an attractive marketing segment for companies.

Among the specials mothers will receive in Baltimore today are a free appetizer and a rose at the Brass Elephant and free coffee at Krispy Kreme stores.

Price vice chairman named to term on institute board

James S. Riepe, vice chairman of T. Rowe Price Group Inc., was named chairman of the Investment Company Institute's board of governors for a one-year term.

Riepe succeeds Paul G. Haaga Jr., who served two one-year terms on the board of the Washington-based mutual-fund industry trade group.

The institute's board of governors is responsible for setting policy and overseeing activities of the institute, whose members include mutual funds, closed-end funds, exchange-traded funds and unit investment trusts. Riepe, who also is chairman of T. Rowe Price Mutual Funds, was institute chairman from 1990 to 1992.

Elsewhere

Northwest Airlines, pilots tentatively agree on concessions

Northwest Airlines Corp. and its pilots reached a tentative agreement yesterday that includes $265 million in labor concessions, the Air Line Pilots Association said.

Pilots must vote on whether to accept the two-year proposal. The union said the contract would generate $300 million in savings for the airline.

Northwest has been seeking labor concessions worth $950 million a year, and the pilots were the first group to negotiate. The airline has lost $2.1 billion on operations since the beginning of 2001.

Eli Lilly plans to eliminate 575 jobs in United States

Eli Lilly and Co. said yesterday that it plans to eliminate 575 U.S. jobs to streamline operations and become more competitive.

The employees in those positions, mostly sales and support jobs, will be given the choice of taking other jobs within the Indianapolis-based company by the end of the year or accepting a severance package.

The changes include closing 43 leased district and regional sales offices by mid-November, and having management and support staff from those offices work out of home offices.

Former gas trader pleads guilty to false reports

A former El Paso Corp. natural gas trader has pleaded guilty to a charge of making false reports used to calculate the index price of the commodity, U.S. Attorney Michael Shelby said yesterday.

Dallas Dean, 60, was one of four former traders charged last week. U.S. District Court Judge David Hittner set a Jan. 13 sentencing date for Dean, who is free on bond. Dean could receive a maximum of five years in prison without parole and a $500,000 fine.

Bank of America ordered to pay $364 million in suit

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