Last week's headlines

Fieldstone hurt by credit crunch

gaming joint venture

December 02, 2007

Local lender in Chapter 11

Fieldstone Mortgage Co., the Columbia subprime lender that largely shut down in the midst of the nationwide credit crunch, has filed for bankruptcy protection. The company had more than $100 million in liabilities and less than that in assets, according to its Chapter 11 filing with the U.S. Bankruptcy Court in Baltimore.

Cordish takes a partner

Baltimore developer Cordish Co. is teaming up with Dennis Gomes, a prominent gaming industry executive, to run gaming projects in the United States and internationally. Gomes has managed casino and hotel properties in Las Vegas and Atlantic City, N.J., and previously regulated gaming in New Jersey and Nevada.

Subprime debt gives Ferris loss

Ferris Baker Watts Inc. has become one of the latest institutions to take a financial hit from the subprime mortgage crisis, disclosing a $7.4 million loss on debt securities purchased by a bond trader who has since been dismissed. According to an internal memo, Ferris plans to virtually write off the securities' value on its financial statements for October.

Patient First joins Bayview

Patient First, an urgent care chain, has opened a new center on the campus of Johns Hopkins Bayview Medical Center - its first facility on the grounds of a hospital and its first in Baltimore. Bayview sought out Patient First, seeing it not as competition but as a mechanism to unclog its crowded emergency department.

Home prices slip in region

Home values in the Baltimore metropolitan area dropped this summer for the first time in nine years, according to a government measurement released last week. Baltimore hasn't seen a decline in the index since spring 1998, and the measurement doesn't include segments of the market that are being buffeted the most now.

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