Daily Briefing

DAILY BRIEFING

July 16, 2009

Airline adding service from BWI to Kentucky

Florida-based Locair is beginning commuter service to BWI Thurgood Marshall Airport next month. The regional airline will offer six flights between Baltimore and Somerset, Ky., beginning Aug. 5. It decided to add the service because of high demand it saw from Washington Dulles.

- Andrea K. Walker

Legg Mason seeks to buy debt with cash, stock

Baltimore money manager Legg Mason Inc. announced Wednesday that it wants to buy back as much as 95 percent of its $1.15 billion convertible debt offering from last year. Legg said the move would allow the company to increase its capital, reduce debt and save $76 million a year before taxes in interest. Legg is offering to exchange up to 21.8 million units for 0.8881 percent of Legg common stock and $6.25 in cash per unit. The offer expires Aug. 12.

- Hanah Cho

Despite rising prices, costs still down this year

WASHINGTON - Sharply higher prices for everyday goods in June reflected a surge at the gas pump, not the start of a dangerous bout of inflation. In fact, economists say falling prices are the bigger danger. A Labor Department report Wednesday showed consumer prices making their biggest jump last month in almost a year. But overall prices are down 1.4 percent from this time last year - the biggest decline in almost six decades. Consumer prices were up 0.7 percent in June, the Labor Department said, mostly because of higher energy prices. Gasoline was 17 percent more expensive in June than in May.

- Associated Press

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