Daily Briefing

DAILY BRIEFING

January 05, 2010

Sinclair revises revenue outlook for fourth quarter

Television station owner Sinclair Broadcast Group Inc. on Monday revised its outlook for fourth-quarter net broadcast revenue to a better-than-expected $153.8 million, or 6.5 percent lower than the fourth quarter of 2008. The Hunt Valley-based broadcaster had previously anticipated net broadcast revenue, from advertising on its stations, of $143.3 million to $146.3 million for the three months ended Dec. 31, or a drop of 11 percent to 12.8 percent. Sinclair, which owns, operates or programs 58 U.S. stations, including Fox 45 in Baltimore, said it has seen advertising revenue improve in the automobile sector because of increased spending on ads by dealers and domestic manufacturers. The company will report fourth quarter earnings Feb. 17.

- Lorraine Mirabella

New Kohl's stores, jobs in Annapolis, Middle River

Kohl's Department Stores said Monday that it will open two new stores in March. One will be in Annapolis, at Somerville and Solomons Island roads, and the other in Middle River at Martin Boulevard and Middle River Road. The retailer will hold five-day job fairs from Jan. 10-15 to help fill a combined 280 jobs at the two stores. The Annapolis job fair will be held at the Double Tree hotel on Holiday Court, and the job fair in Middle River will be held at the Hilton Garden Inn on Campbell Boulevard. Go to kohlscareers.com or call 877-NEW KOHLS to schedule an interview.

- Andrea K. Walker

Billboard names 1st Mariner Arena best of its size in U.S.

1st Mariner Arena is the top arena of its size in the U.S., according to industry publications Billboard Magazine and Venues Today. After a star-studded year including performances from Bruce Springsteen, Beyonce and Jay-Z, the aging venue took the No. 1 spot for arenas with capacities from 10,001 to 15,000. The results were based on the number of tickets sold and gross revenue, according to Frank Remesch, 1st Mariner's general manager. "We had a heck of a run this year," Remesch said. "I wouldn't say I'm surprised, but I'm proud." Last year, Billboard Magazine ranked 1st Mariner No. 3, behind Boardwalk Hall Arena in Atlantic City, N.J., and the MGM Grand's Garden Arena in Las Vegas.

- Sam Sessa

SunEdison to unveil solar roof Wednesday in Hanover

Solar energy provider SunEdison on Wednesday will unveil a new solar roof at the Staples Fulfillment Center on Dorsey Road in Hanover. The 1-megawatt solar installation covers nearly 175,000 feet of roof space. The company said the panels will offset tens of millions of pounds of carbon dioxide and generate electricity for decades.

- Andrea K. Walker

AP poll: Bankruptcy filings continue in large numbers

U.S. consumers and businesses are filing for bankruptcy at a pace that made 2009 the seventh-worst year on record, with more than 1.4 million petitions submitted, an Associated Press tally showed Monday. The AP gathered data from the nation's 90 bankruptcy districts and found 1.43 million filings, an increase of 32 percent from 2008. There were 116,000 recorded bankruptcies in December, up 22 percent from the same month a year before.

- Associated Press

Manufacturing report points to steady economic recovery

An unexpectedly strong report on manufacturing activity Monday bolstered confidence that the nation's factories will help sustain an economic recovery. The report by a private trade group signals that industrial production is likely to keep expanding in the coming months, economists said. That could lead, in turn, to increased hiring and job creation. The Institute for Supply Management, a trade group of purchasing executives, said its manufacturing index read 55.9 in December after 53.6 in November. A reading above 50 indicates growth. It was the fifth straight month of expansion and the highest reading for the index since April 2006. But a separate report on construction spending sounded a more cautionary note. Construction activity fell in November for a seventh straight month as spending on both residential and commercial projects declined. The 0.6 percent drop was bigger than the 0.4 percent decline that economists had been expecting.

- Associated Press

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