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August 18, 2011
Columbia-based Cornerstone Records Management LLC announced it has completed the acquisition of the assets of The Houston File Room Inc., based in Spring, Texas. The Houston File Room is a privately-owned company that provides secured document storage to companies. The acquisition of The Houston File Room represents the 17th acquisition completed by Cornerstone since June 2008. The Mid-Atlantic Food, Beverage and Lodging Expo, the annual regional trade show hosted by the Restaurant Association of Maryland, has been canceled.
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NEWS
August 22, 2014
Many thanks to reporter Liz Bowie for taking a close look at how Urban Teacher Center prepares new teachers to serve our local schools more effectively ( "Residency program tries to solve problem of teacher burnout," Aug. 18). As the new school year begins, we are proud to continue our partnership with Baltimore City Schools and to introduce a new class of Urban Teacher Center residents to the teaching profession. It is the teachers - those who have recently decided to dedicate their careers to helping students learn and grow and those who advance the profession every day by serving as excellent educators - who are making a difference in the lives of students in our city and across the nation.
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BUSINESS
January 30, 1994
NEW YORK (AP) -- Assets of the nation's 651 retail money market mutual funds fell by $2.30 billion in the latest week to $399.84 billion, the Investment Company Institute reported.Assets of the 404 taxable money market funds fell by $1.58 billion to $309.45 billion for the week ended Wednesday. The 247 tax-exempt fund assets fell by $725.7 million to $90.40 billion.
NEWS
By Will Fesperman, The Baltimore Sun | July 31, 2014
Anne Arundel County officially opened a new water access point Wednesday in Shady Side, an offshoot of a citizen-led effort to increase public access to bodies of water. More than 70 residents and county officials attended the ribbon-cutting ceremony at Shady Side Park, and officials said attendees brought more than 30 kayaks to give the new facility a test drive. The access point - on Parish Creek, which feeds into the West and Rhode rivers - offers enthusiasts a place to put in their kayaks, canoes, inner tubes and paddleboards.
BUSINESS
By Hanah Cho, The Baltimore Sun | May 30, 2012
W.R. Grace said Thursday that it will acquire the assets of Chinese manufacturer Noblestar Catalysts Co. Ltd. The terms of the deal were not disclosed. Noblestar, based in Qingdao, makes fluid catalytic cracking catalysts and other related products, which are used in the petroleum refining industry. As part of the agreement, Grace established a new, wholly foreign-owned enterprise in China. Grace officials said the acquisition would help the Columbia company better serve its refining customers in China and northern Asia.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 26, 2011
An affiliate of a South Korean poultry firm was the winning bidder in a bankruptcy auction for the assets of Allen Family Foods, a Delaware company that employs hundreds on Maryland's Eastern Shore. Richard A. Robinson, an attorney representing Harim USA Ltd., the Delaware arm of Harim Holdings Co. Ltd., said the company submitted the highest bid for what amounted to nearly all of Allen's assets. The auction on Monday lasted about 12 hours, he said. The acquisition is contingent on approval from a bankruptcy judge.
BUSINESS
July 9, 1993
The assets of V-Com Composition Inc., whose owners included Theodore G. Venetoulis, a local publishing executive, were sold at auction yesterday.Maryland National Bank seized the printing company's assets in April. Mr. Venetoulis later filed for personal bankruptcy under Chapter 11 of the U.S. Bankruptcy Code.V-Com's building and land in Silver Spring were sold for $560,000 to SOPM Limited Partnership of Baltimore, according to Mary Beth Barnes, a legal assistant at Miles & Stockbridge, the law firm representing Maryland National.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | November 19, 1994
The Resolution Trust Corp. announced yesterday that four area financial institutions have acquired the remaining assets of Standard Federal Savings Bank for franchise fees totaling $8.36 million.The four institutions -- Enterprise Federal Savings Bank, Loyola Federal Savings Bank, Farmers & Mechanics National Bank and Maryland Federal Savings and Loan -- bought 11 branches and will assume $99.7 million in insured deposits and other assets.The largest purchaser of the Gaithersburg-based thrift's remaining assets was Enterprise Federal, which acquired four branches with deposits of $33.8 million.
BUSINESS
By Laura Smitherman and Laura Smitherman,SUN REPORTER | December 4, 2007
A Maryland investment pool used by local government entities, including school boards, libraries and cities, is seeking to reassure participants that it has nominal exposure to subprime mortgages and other troubled investments. The effort came as a similar investment pool in Florida, once the largest in the U.S., froze assets last week, prompting government entities across the state to scramble to raise cash for payroll and other routine expenditures. The Florida pool halted withdrawals after investors pulled $13 billion last month.
NEWS
By Tricia Bishop | August 18, 2009
The Maryland U.S. attorney's office has established an Asset Forfeiture and Money Laundering Section to go after criminal proceeds and provide victim restitution. "Seizing and forfeiting ill-gotten gains enables us to take the profit out of crime and use the proceeds to compensate victims," said U.S. Attorney Rod J. Rosenstein. The new unit, announced Monday, will work with federal, state and local authorities to pursue the forfeiture of assets, including cars, homes and cash, from people committing crimes such as mortgage fraud, Rosenstein said.
NEWS
Letter to The Aegis | May 27, 2014
Editor: Some of my fondest memories are from my time spent at the Conowingo Dam. As someone that has spent a lot of time at the recreation areas around Conowingo Dam and seen its operation firsthand, a recent Aegis editorial about sedimentation behind the dam got it wrong. The dam is one of the best recreational places in the entire state and is important to the bay's ecological health. The fisherman's wharf is a great spot to observe the many fish species of the Bay, including bass, shad, catfish and walleye.
NEWS
By J. Howard Kucher | April 8, 2014
The "state of the city" is a hot topic right now. In this paper and many social media sites, there's a lot of talk about Baltimore - Are we OK? Should we move? Should we dig in? The discussion eventually comes back to concern about crime and murder rates in our fair city. Reading all of this, one question kept coming to me: Where is the church? For the record, I'm aware that there are many churches doing great things in this town. And the church has always been a leader in providing charitable support for the less fortunate.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 22, 2014
Sinclair Broadcast Group Inc. is one of several large broadcasters that could be forced to sell television stations or other assets or rethink future acquisitions under new media ownership rules the Federal Communications Commission is set to consider later this month. FCC Chairman Tom Wheeler proposed changes that would restrict the number of TV stations controlled by a single owner in a market, a step designed to protect competition and diversity in local media. Specifically, the FCC is examining broadcasters' use of sharing arrangements for sales as well as facilities and employees.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 4, 2014
Legg Mason Inc. has agreed to acquire QS Investors, a New York-based investment firm with $4.1 billion in assets under management and nearly $100 billion in assets under advisory. Financial terms of the deal, announced Tuesday, were not disclosed. The Baltimore-based money management firm said it plans to integrate its Batterymarch Financial Management and Legg Mason Global Asset Allocation divisions over time into QS Investors. The deal, Legg CEO Joseph A. Sullivan said on a conference call with analysts, "is entirely in keeping with what I have said many times, namely that we intend to have fewer and larger affiliates to brand and to market.
NEWS
By Yvonne Wenger, The Baltimore Sun | February 28, 2014
After Ryan Weinberger's parents died while he was in foster care, Maryland collected his Social Security survivor's benefits of more than $30,000 to help cover his state-funded living expenses. Now Weinberger, 21, wants to persuade the General Assembly to pass legislation to stop the Department of Human Resources from confiscating benefits available to hundreds of foster children each year. "It's not right what they're doing - it's not their money," said Weinberger, who lives in Abingdon.
BUSINESS
By Natalie Sherman, The Baltimore Sun | January 2, 2014
T. Rowe Price closed two funds focused on smaller companies to new investors Thursday, a move the firm said was designed to protect the traditionally risky funds from their own success. The assets of the roughly $15.5 billion New Horizons Fund, which has investments in tech firms including Twitter, Netflix and Chinese video site Youku.com, have risen by almost $11 billion since 2002, according to the company. Returns rose 49 percent in 2013. The assets of the roughly $10.2 billion Small-Cap Stock Fund, which has investments in Jack in the Box and pharmaceutical company Incyte Corp.
BUSINESS
By New York Times News Service | July 23, 1991
Trans World Airlines Inc. and American Airlines teamed up yesterday to threaten Delta Air Lines Inc.'s bid for many of bankrupt Pan Am Corp.'s key assets, offering to buy the whole airline for $450 million.The offer represented the start of a bidding war for the remaining jewels of Pan Am, said industry analysts, who gave Delta the winning edge."It certainly created a maelstrom," said Leon Marcus, the representative for Pan Am's unsecured creditors, who are looking to get as much cash as possible for the carrier's assets.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Staff Writer | April 16, 1992
Baltimore Bancorp plans to shrink by about 15 percent this year, as the parent of the Bank of Baltimore sells off $500 million in assets in a bid to boost the bank's sagging capital and cut its reliance on high-priced brokered deposits.The $500 million in asset sales will let the company pay off $450 million in brokered deposits -- usually in the form of certificates of deposit larger than $100,000 -- that the company's former management had used to fund a push into commercial real estate lending in the late 1980s, Chief Executive Charles H. Whittum Jr. said.
NEWS
December 30, 2013
In his letter to the editor ( "City water needs a new business plan," Dec. 26), Pete Sepp of the National Taxpayers Union identifies better asset management as a way for Baltimore to better manage its water system and save money. The Asset Management Division in the Bureau of Water and Wastewater is already helping Baltimore water customers get the most from their investment. This division considers the condition of our pipes, as well as the impacts of a possible infrastructure failure on neighborhoods, critical users, and the environment, in selecting how to best use our resources.
NEWS
November 25, 2013
Since the Iran nuclear deal was announced late Saturday, the criticism has been predictable. Israel's leadership isn't happy; neither is Saudi Arabia's. And there's a customary skepticism in Congress, particularly from Republicans, the most outlandish of whom see it as part of a grand scheme to keep their attacks on Obamacare off the front page. But at its heart, the accord is historic not because it ensures Iran won't develop nuclear weapons but because it starts a process by which that goal might be accomplished.
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