Daily Briefing

DAILY BRIEFING

December 17, 2008

Edgerley, state economic development chief, resigns

The state's economic development secretary, David Edgerley, resigned last night, saying he wants to pursue a career in the private sector or education. Edgerley's resignation comes after Gov. Martin O'Malley sought to reorganize his agency, the Department of Business and Economic Development, a process that emphasized efforts for the biotechnology industry and international trade and consolidated some functions. O'Malley issued a statement thanking Edgerley for his service and for his help in launching an initiative to expand the biotechnology industry in the state. In a letter to employees, Edgerley said the "rigors" of being in the Cabinet over the past two years have prepared him for a "new endeavor." In a phone interview, he declined to comment on whether he has a new job or is considering one. His last day will be Jan. 30.

Laura Smitherman

IRS to help homeowners refinance or sell homes

WASHINGTON: The Internal Revenue Service said yesterday that it will try to make it easier for homeowners in financial straits to refinance or sell their homes. The plan announced by IRS Commissioner Doug Shulman would speed up a process in which a financially distressed homeowner may request that a federal tax lien be made secondary to liens by the lending institution that is refinancing or restructuring a loan. Taxpayers will also be able to ask the IRS to discharge, or remove, its claim to a property in certain circumstances where the property is being sold for less than the amount of the mortgage lien. Shulman said the program will focus on people who ordinarily pay their taxes but are hurt by the recession.

Associated Press

Erickson chief executive says he's stepping down

John Erickson is stepping down as chief executive officer of Erickson Retirement Communities after 25 years, but will remain chairman of the company he founded, the company said yesterday. Bruce R. "Rick" Grindrod will become the new CEO of the Catonsville-based company. The change is effective immediately. Grindrod was most recently president of the Erickson Developing Enterprises, where he led new business opportunities and philanthropic initiatives. The company has 19 retirement communities.

Andrea K. Walker

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