Assets

On weekday mornings, I'll post the most controversial, shocking and (of course) ridiculous stories for your reading pleasure. That way, when you walk into work, you'll be the master of witty conversation. National  • Hey, big spender: Romney hauls in $10 million in a single da y. (AP)  • Not to be outdone: Obama lists assets worth millions . (CNN)  • Amazing: Man 'cured' of AIDS . (CBS)  • Seriously? Facebook-loving couple names baby "like.

Dan Rodricks used the example of an illegal immigrant who became a doctor and saved a woman's life to illustrate the wonderful asset illegal immigrants can be ("'Illegals' and the next economy," May 15). In the interest of fair and balanced commentary, I wish he would have compared the number of illegal immigrants who save someone's life to the number who commit violent crimes — like the "thrill-kill" murder of three New Jersey college students who were shot in the head in a school yard by an illegal immigrant.

Baltimore-based FTI Consulting Inc. said Tuesday that it plans to acquire three practices from LECG Corp. — the majority of its remaining European operations — for an undisclosed amount. FTI is acquiring LECG Corp.'s market-leading competition policy practice, financial advisory services practice and tax consultancy group. FTI, which provides business services ranging from forensic accounting to corporate restructuring, purchased LECG's international arbitration and airline competition practices earlier this year.

Former top Legg Mason executive Peter L. Bain was appointed Tuesday as president and chief executive of Boston-based Old Mutual Asset Management. Bain left Legg in 2009, having served as senior executive vice president in charge of affiliate management and corporate strategy. He joined Legg in 2000. Bain will relocate to Boston from Baltimore and assume his new position on Feb. 22. Old Mutual is selling its Baltimore-based life insurance operation to a private equity firm for $350 million.

The majority owner of Maryland's two thoroughbred tracks has agreed to a deal that would transfer all of its racing assets, including Laurel Park and Pimlico Race Course in Baltimore, to its chairman and chief executive Frank Stronach. In exchange, Stronach will give up control of Ontario-based MI Developments, according to the agreement announced late Monday. Stronach currently controls 57 percent of the real estate company's voting power. The restructuring means the racing operations would become a separate entity with assets including Santa Anita Park and Golden Gate Fields, both in California; Gulfstream Park in Florida and horse racing technology firm AmTote International, the Hunt Valley-based electronic bet-processing company.

The brother of Under Armour founder Kevin Plank will sell 400,000 Class A shares in a pre-arranged trading plan. J. Scott Plank, who is also executive vice president at Under Armour, entered into the agreement Nov. 30, but the company disclosed it in a regulatory filing this week. Plank will sell up to 375,000 shares of his personal stock and 25,000 shares of the stock for his charitable foundation. He owns 2.5 million total shares and will own about 4.3 percent of the all the company shares once the sale is complete.

The CEO of sports apparel company Under Armour plans to sell up to 1,125,000 personal Class B shares over 10 months beginning in February, according to a regulatory filing made Friday. Kevin Plank also plans to sell 125,000 shares of the company's Class B stock for his charitable organization. Plank owns 12,500,000 shares of the company's Class B stock, or about 24.5 percent of the total shares of Class A and B shares available as of Oct. 31. He owns 76.5 percent of voting stock.

T. Rowe Price Group's profit rose 27 percent in the third quarter, buoyed by a market rebound and $8 billion in client investments. The Baltimore money manager said Friday that net income rose 27 percent to $169.1 million, or 64 cents per share. That's compared with a profit of $132.9 million, or 50 cents per share, in the corresponding period last year. Shares rose 4 percent, or $2.19, to close Friday at $54.89. Clients added $1.8 billion to Price's bond funds, but withdrew $600 million from its stock and blended-asset mutual funds and $100 million from money market funds.

Asset manager Blackstone Group has agreed to invest about $500 million in shares of General Growth Properties Inc. once the shopping mall operator emerges from Chapter 11 bankruptcy protection. General Growth, which owns most of the regional malls in Central Maryland, disclosed Blackstone's role in a regulatory filing Wednesday detailing an amended version of its proposed reorganization plan. An investor group composed of Canadian property manager Brookfield Asset Management Inc., the Fairholme Fund and Pershing Square Capital Management has agreed to provide up to $8.5 billion in capital to finance General Growth's exit from bankruptcy.

Russian steel company Severstal is looking for a buyer for the Sparrows Point steel mill in Baltimore County and its other financially strapped U.S. plants, according to union officials. The news comes as Sparrows Point plans its second shutdown this summer — leaving three-quarters of the plant idle starting next week, said John Cirri, president of United Steelworkers Local 9477. The shutdown could result in more layoffs at the facility. Cirri said he learned this week from higher-level union executives that Sparrows Point was among several steel mills that Severstal was shopping around.