Daily Briefing

Daily briefing

February 02, 2010

Y of Central Maryland to open Parkville center

The Y of Central Maryland plans to open a new facility by June in the North Plaza Shopping Center in Parkville. The location will be a full-service family-center Y that offers classes such as youth sports, swimming, water aerobics, martial arts, yoga, indoor cycling and exercise programs. The facility also will feature a fitness floor for cardio exercise and weight training, free child supervision, a teen/senior room, children's play area and family activities. The nonprofit has begun selling memberships for the new location at an office in North Plaza. Y of Central Maryland already operates 10 centers, in Baltimore City and Baltimore, Howard, Harford and Carroll counties.

- Lorraine Mirabella

State orders firm to stop advertising securities

A Baltimore company that advertises unregistered securities has been told to stop at once, the Maryland attorney general's office said Monday. The cease-and-desist order names Patuxent Management LLC, as well as Patuxent Development Inc. and Antonio Almenara, which the state said advertised notes backed by "local real estate" that were not registered with the state, as required. The companies and individual aren't registered, either. Anyone who bought the notes should call the attorney general's securities division, 410-576-7047.

- Jamie Smith Hopkins

Obama seeks 12 percent budget increase for SEC

WASHINGTON - President Barack Obama is seeking a 12 percent budget increase for the Securities and Exchange Commission, including $382 million for more than 100 new enforcement staff to work on the agency's burgeoning caseload targeting fraud and market manipulation. Monday's request to Congress for nearly $1.3 billion for the SEC in the budget year starting Oct. 1 would boost total staff to 4,190 from the current 3,800 at the traditionally low-profile agency, which was rocked by its failure to detect the large 16-year fraud by money manager Bernard Madoff. The request includes a 10.6 percent increase in enforcement attorneys and investigators, to 1,368. The budget increase is notable because the administration's budget proposes spending cuts in programs outside of defense and security.

- Associated Press

Exxon posts lowest profit since '02

Exxon Mobil's earnings fell by more than half in 2009, to $19.3 billion, the lowest total in seven years, as refineries struggled with a plunge in global fuel consumption. For the full year, the Irving, Texas-based firm earned $3.98 a share. That compares with a record-breaking year in 2008, when it recorded the highest profit ever for a U.S. company - $45.2 billion, or $8.66 a share. - Associated Press

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