Daily Briefing

DAILY BRIEFING

July 03, 2009

Sinai Hospital opens $55 million expansion

Sinai Hospital at 2401 W. Belvedere Ave. in Baltimore opened an "eco-friendly" addition Thursday that includes a 29-bed intensive care unit, a 36-bed intermediate care unit, a helipad and an atrium with a 40-foot waterfall. Hord Coplan Macht of Baltimore designed the $55 million, four-story building called the South Tower Expansion. According to the hospital, the new 87,000-square-foot building features "the area's first hospital roof garden," with low-maintenance plants that are expected to mature in two to three years.

- Ed Gunts

Jobless data sends stocks reeling; Dow loses 223

NEW YORK - The stock market found little to celebrate heading into the long holiday weekend. Major stock indexes fell more than 2.6 percent Thursday, pushing the Dow Jones industrials to their lowest level in six weeks, after the government said the unemployment rate hit a 26-year high and employers cut far more jobs than expected. Trading on the New York Stock Exchange was extended until 4:15 p.m. in order to execute customer orders affected by system irregularities, a spokeswoman said. For the week, the Dow finished down 1.9 percent; the S&P 500 lost 2.5 percent; and the Nasdaq fell 2.3 percent.

- Associated Press

Buffett makes $1.25B gift to Gates Foundation

SEATTLE - Billionaire Warren Buffett has donated $1.25 billion in Berkshire Hathaway Inc. stock to the Bill & Melinda Gates Foundation. The gift is the third installment in Buffett's plan to transfer the majority of his wealth to the Seattle-based foundation run by the Microsoft Corp. chairman and his wife. The foundation is the world's largest with an endowment of $27.5 billion as of April 2009. Last year, before the recession depressed Berkshire Hathaway's stock, Buffett's gift of a similar number of shares was worth $1.8 billion, or 30 percent more. Thursday's filing with the Securities and Exchange Commission also lists donations of shares of Class B stock worth $125 million to the Susan Thompson Buffett Foundation and nearly $50 million each to the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation.

- Associated Press

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