Legal woes deepen for Sparrows Point shipyard owner

Last Week's Headlines

November 25, 2007

Racketeering claims filed

The Massachusetts owner of a Sparrows Point shipyard and certain affiliates were given two weeks to answer racketeering claims filed against them two weeks ago in U.S. District Court in Baltimore. If they don't, the defendants face a default judgment of up to $2.25 million, according to court documents.

Jobless rate rises in Md.

Unemployment in Maryland rose and job growth slowed last month as national economic troubles touched off by the slumping housing market continued to take a toll. The state's jobless rate was 4 percent in October, up from 3.9 percent a month earlier. That's better than the October U.S. unemployment rate of 4.7 percent.

Insurer told to pay state

State Insurance Commissioner Ralph S. Tyler directed that the state's largest medical malpractice insurer pay its entire $68.6 million dividend to the state, with none going to the doctors. But the order was delayed 30 days to allow the insurer to work out a way to use some of the surplus to keep malpractice premiums stable.

Firm buys TESSCO stake

The world's largest distributor of wireless phones and accessories has bought a significant stake in TESSCO Technologies Inc. of Hunt Valley. In a filing with the Securities and Exchange Commission, Brightpoint Inc. indicated it might propose changes to TESSCO's "capitalization, ownership structure or operations."

Home sales plunge in Md.

Sales of existing homes in Maryland plunged nearly 30 percent in the third quarter - the fourth-biggest drop among the 50 states, the National Association of Realtors reported. Still, all regions of the state, except for the Hagerstown/Martinsburg, W.Va, area, reported an increase in the median sale price of single-family homes.

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