Daily Briefing

DAILY BRIEFING

December 04, 2008

Biotechnical Institute of Md. awarded Bauer grant

The nonprofit Biotechnical Institute of Maryland, which trains unemployed and underemployed workers for entry-level technician jobs at bio-pharmaceutical companies, has been given a four-year, $1 million grant from the Charles T. Bauer Foundation. The institute has placed more than 200 graduates in life sciences organizations and companies throughout the Baltimore area, including the Johns Hopkins University, the University of Maryland Baltimore, Osiris Therapeutics and Human Genome Sciences. It plans to use the grant to upgrade laboratory equipment and facilities, and will issue annual reports showing progress and challenges. The institute is supported by grants from the Abell Foundation, the Annie E. Casey Foundation, Open Society Institute, the Goldseker Foundation and a 2007 work force training award from Baltimore City. The foundation was established by Bauer, an educational benefactor and co-founder of mutual fund company AIM Management Group.

Lorraine Mirabella

Jos. A. Bank reports 31 percent profit jump

Men's retailer Jos. A. Bank Clothiers said yesterday that third-quarter profit rose 31 percent even as weak consumer spending has hurt other retailers. The Hampstead company reported net income of $9.3 million, or 50 cents per share, for the quarter ended Nov. 3, compared with $7.1 million, or 38 cents per share, during the corresponding period a year ago. Comparable store sales increased 7 percent, and Internet and catalog sales increased 11.4 percent.

Andrea K. Walker

Building material firm leases Harford warehouse

PrimeSource Building Products Inc., a Texas-based distributor of building materials, has leased a 205,000-square-foot warehouse in the Hickory Ridge Distribution Center in Aberdeen to ship products in the northeastern U.S., the center's owner, developer ProLogis, said yesterday. PrimeSource is opening the new facility to consolidate the operations of two distribution centers, said Paul Redwood, a PrimeSource vice president. He said some current employees will move to the new facility, and the company will hire additional employees in Aberdeen.

Lorraine Mirabella

Port nears 10-year accord with Finnish paper maker

The port of Baltimore is entering into a 10-year agreement with a Finnish paper manufacturer. Gov. Martin O'Malley is expected to sign the agreement today guaranteeing continued shipment of UPM-Kymmene cargo through the port.

Associated Press

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