Daily Briefing

DAILY BRIEFING

July 15, 2009

Goldman Sachs posts record quarterly profit

WASHINGTON - Goldman Sachs Tuesday reported the largest quarterly profit in its history as a public company, $3.44 billion between April and June, as the decimation of its Wall Street rivals allowed the investment bank to romp across the financial landscape, buying low and selling high. The New York firm is only months removed from a federal rescue that included emergency approval to become a bank holding company, $10 billion in direct federal aid and help borrowing billions more to finance its operations. But Goldman's earnings of $4.93 a share, up from $4.58 during the comparable period last year, made clear that the aftermath of the crisis has become an opportunity for the company, which has emerged stronger than other survivors.

-The Washington Post

2 Baltimore preservation panel members to leave

Two members of Baltimore's Commission for Historical and Architectural Preservation, chairman Tyler Gearhart and architect Michael Murphy, will leave the panel by the end of October as part of a transition in its makeup. Architect Donald Kann is expected to succeed Gearhart as chairman of the 13-member panel, which reviews plans for exterior changes to buildings in city historic districts and individually listed landmarks. All of the commission's members were appointed by then-Mayor Martin O'Malley. Their terms technically lapsed when Sheila Dixon succeeded O'Malley, but they have been permitted to remain on the panel until they are replaced. These departures bring to four the number of vacancies to be filled by Dixon. Gearhart, who heads Preservation Maryland, said he would stay on for three months to ensure a smooth transition. Murphy, one of the panel's most outspoken members, said during the group's meeting Tuesday that he was notified that Dixon would not reappoint him, so he intended to step down effective this month.

- Ed Gunts

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