New rules are needed to avoid power shortages, PSC says
But it rules out re-regulation
Maryland residents could face power shortages and higher electric rates unless the state moves to reimpose some regulation on the industry, the state Public Service Commission concluded in a preliminary report to lawmakers. The commission, however, stopped short of recommending full re-regulation of the power industry.
BCSB delays stock offering
Baltimore County Savings Bank, struggling to drum up investor interest in its stock sale amid a market that is wary of financial companies, plans to delay the offering for three months while it seeks a new appraisal of the bank's value. BCSB Bankcorp Inc., the bank's parent company, said it has sought federal approval for its plan.
2 BWI airlines to cut growth
Steadily rising fuel prices and fears of an economic slowdown are prompting Southwest Airlines and AirTran Airways, the two dominant airlines at Baltimore-Washington International Thurgood Marshall Airport, to scale back growth in capacity in 2008. Southwest will hold growth to 4 percent to 6 percent, and AirTran 10 percent.
Luxury homes marked down
Squeezed by the sharp downturn in the housing market, one of the largest U.S. homebuilders has sold the bulk of a luxury townhouse development in Baltimore's Federal Hill to a local developer who immediately cut prices about 20 percent. Terra Nova Ventures bought 22 homes in the 26-unit Federal Place development from Lennar Corp.
Grace loses ruling appeal
W.R. Grace & Co. and executives criminally charged in 2005 with the deadly asbestos contamination of a Montana town lost a bid last week that would have further delayed their trial. A federal appeals court declined to reconsider a decision by three of its judges upholding the charge of knowing endangerment against the Columbia firm.