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BUSINESS
April 3, 2010
The Treasury Department says automaker General Motors Co. and insurer Hartford Financial Services Group Inc. have repaid billions of bailout dollars. Treasury says GM repaid $1 billion of $6.7 billion in loans it received as part of a $50 billion rescue. Hartford repaid its entire $3.4 billion bailout. The money came from a $700 billion bailout that Congress passed in October 2008 amid the worst financial crisis in generations. The payments mean Treasury has been repaid $181 billion of the money it disbursed.
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HEALTH
By Meredith Cohn and The Baltimore Sun | October 4, 2014
Late last year, medical device maker Zimmer Holdings Inc. made two large payments to Dr. Andrew N. Pollak, chair of the University of Maryland Medical System's orthopedics department. The payments, one for $47,225 and the other for $45,902, were royalties paid to Pollak for work he did at Maryland Shock Trauma Center starting seven years ago in helping develop a clamp known as a fixator that could hold trauma patient's broken bones straight until they were ready for surgical repair.
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BUSINESS
By BLOOMBERG NEWS | February 28, 2006
NEW YORK -- Merrill Lynch & Co. Inc. will buy back as much as $6 billion of its stock, the company's biggest share repurchase, after a third straight year of record profit left it flush with cash. The buyback, announced yesterday, would include about 8.4 percent of outstanding shares based on yesterday's closing price. Merrill, the world's biggest securities company by market value, joins Goldman Sachs Group Inc., Lehman Brothers Holdings Inc. and Bear Stearns Cos. in using buybacks to boost returns to shareholders.
BUSINESS
By Scott Dance and The Baltimore Sun | September 29, 2014
A near doubling in Under Armour's stock price over the past year helped drive CEO Kevin Plank past Ravens owner Steve Bisciotti in the Forbes 400 list of the richest Americans. Plank is worth $3 billion, according to the financial magazine, up from $1.7 billion a year ago. He has climbed from No. 345 to No. 327 to No. 190 over the past three years. Bisciotti, whose wealth comes both from the Ravens and the staffing firm Allegis Group, is worth $2.6 billion, ranking No. 235 on the list.
BUSINESS
October 4, 1998
Home remodeling expenditures are shooting through the roof, according to statistics released by the U.S. Census Bureau.The annual rate of spending for remodeling hit $121.1 billion for the first quarter of 1998, marking the second highest on record. The latest figures rose 6 percent from the previous quarter and 9 percent when compared to the same period last year.However, it was less than the record $125.7 billion spent during 1997's third quarter.Nonetheless, the consistently high numbers are demonstrating an increasingly stronger market, according to the National Association of Home Builders.
NEWS
By New York Times News Service | February 3, 1995
WASHINGTON -- President Clinton will propose $1.6 trillion of spending in his 1996 budget, and he would more than offset the cost of a middle-class tax cut with savings in other areas of the budget. But he still falls far short of Republican demands for a balanced budget in the year 2002.Mr. Clinton's budget request, to be submitted to Congress on Monday, shows a deficit of $196.7 billion for the 1996 fiscal year, up slightly from the $192.5 billion that he projects for this year. Although his budget message boasts that his economic policies have sharply reduced the deficit from record levels, he says the deficit will probably stay in the range of $190 billion through 2005.
NEWS
By Carl M. Cannon and Carl M. Cannon,Washington Bureau of The Sun | August 1, 1995
WASHINGTON -- Low interest rates, a slightly better-than-forecast economy and a -- of Republican budget-cutting means that the federal deficit for this year will be $33 billion less than expected, according to a mid-year review by White House economists.The deficit for the current fiscal year, which ends Sept. 30, will now be $160 billion, instead of the $193 billion forecast in February, White House economic advisers said.If the Congressional Budget Office agrees when it releases its own mid-term report in a few weeks, the new figures could give President Clinton leverage in dealing with Congress.
NEWS
By New York Times News Service | September 8, 1992
PARIS -- The Iraqi invasion of Kuwait and the resulting Persian Gulf war have cost Arab countries $620 billion, according to an authoritative report issued Sunday.The Arab Economic Report, an annual study by the Arab Monetary Fund, the Arab League, the Organization of Arab Petroleum Exporting Countries and other leading institutions, said that the destruction of oil wells and pipelines, telecommunications, roads, buildings and factories cost Kuwait $160 billion and Iraq $190 billion.The report was released at a central bankers' meeting in the United Arab Emirates.
NEWS
By Knight-Ridder News Service | May 2, 1991
WASHINGTON -- NASA underestimated the possible cost of the redesigned space station over the next decade by as much as $10 billion to $20 billion, congressional investigators said yesterday on the eve of a House vote on 1992 spending for the project.Last month the National Aeronautics and Space Administration said the scaled-back Space Station Freedom would cost $30 billion. More than $4.5 billion of that already has been spent on preliminary planning and design.While NASA has declined to forecast costs over the expected 30-year life of the controversial project, the total could reach $118 billion to $180 billion, according to estimates from the General Accounting Office and staff analysts for the House Government Operations Committee.
BUSINESS
By Jon Van and Jon Van,CHICAGO TRIBUNE | January 9, 2004
Verizon Communications Inc., the dominant phone company in Maryland, will spend $3 billion over the next two years to upgrade its wireless and wired networks to carry high-speed data, Ivan Seidenberg, the firm's chief executive, said yesterday. Verizon also will introduce new technology to integrate cell phones, wired phones and Internet services onto a single device, providing a range of new features for consumer and business users. How much of the $3 billion will be added to the $12 billion or so in capital improvement expenditures the nation's largest phone company normally spends on network upgrades will depend upon market conditions, Seidenberg said.
BUSINESS
By Kevin Rector and The Baltimore Sun | September 18, 2014
A new five-year deal between the port of Baltimore and high-end automaker BMW will keep bringing an estimated $2.5 billion worth of vehicles through what is already the top auto import operation in the nation. Officials announced the extended partnership - and a large new BMW processing center at one of the port's terminals - at a waterfront gathering Thursday, saying the new facility will bolster Baltimore's dominance in the market, create 200 jobs and set the course for growth.
NEWS
By Kevin Rector and Alison Knezevich, The Baltimore Sun | August 26, 2014
Baltimore city and county leaders announced Tuesday that they are committing a combined $280 million to fund construction of the Red Line light rail even as the estimated cost for the project has ballooned to $2.9 billion. The local contributions are considered critical for the Woodlawn-to-East Baltimore transit line to proceed. As federal transportation funding has dwindled in recent years, officials prioritizing infrastructure improvements around the country have favored projects that include state and local cost sharing.
NEWS
July 22, 2014
If your roof starts leaking live a sieve, it's not only prudent to get a new roof but to install a short-term fix - buckets to catch the water, perhaps, or a tarp - before your house is ruined. So should it be with so-called tax inversions by U.S. corporations. The long-term answer may be tax reform, but right now the leaks have to be plugged. What is a tax inversion? It's when a big U.S.-based multinational buys a company off-shore and then ships its own corporate headquarters there to avoid paying U.S. federal and state corporate taxes.
NEWS
By Kevin Rector, The Baltimore Sun | July 10, 2014
Baltimore County Executive Kevin Kamenetz is balking at the price of the Red Line transit project, telling state officials the county will contribute about half the funding it is being asked for - and only if certain conditions are met. Kamenetz outlined his stance in a letter to state officials late last month, saying the county is willing to pay $26.5 million in "in-kind" contributions for the transit line - covering street realignments, stormwater...
HEALTH
By Meredith Cohn | July 10, 2014
Excessive drinking accounts for 10 percent of deaths among working-age adults, making it the leading cause of preventable death of Americans, according to new research from the U.S. Centers for Disease Control and Prevention . The alcohol use killed about 88,000 people aged 20 to 64 a year from 2006 to 2010, shortening their lives by about 30 years. They died from health effects including breast cancer, liver disease and heart disease, as well as from violence, alcohol poisoning and car crashes.
NEWS
By John Fritze, The Baltimore Sun | July 8, 2014
— President Barack Obama asked Congress on Tuesday for $3.7 billion in emergency funding to address the influx of children from Central America entering the country illegally, a first step in what the White House described as a broader effort to speed deportations. The proposal — which includes $1.8 billion to provide shelter and medical care for children fleeing violence and poverty in El Salvador, Guatemala and Honduras — is likely to set off a more expansive debate on Capitol Hill about immigration, which lawmakers had put on hold ahead of this year's midterm elections.
NEWS
By Knight-Ridder News Service | June 27, 1991
WASHINGTON -- The savings and loan bailout needs an additional $180 billion, Treasury Secretary Nicholas F. Brady told the Senate Banking Committee yesterday, detonating an ugly round of bipartisan complaint and accusation that climaxed with Mr. Brady demanding a personal apology.For more than an hour, the normally taciturn Treasury secretary sat silent as one senator after another criticized the S&L bailout's escalating costs and the seemingly endless reports of bureaucratic bungling.Sen.
BUSINESS
By Los Angeles Times | February 2, 1995
DEARBORN, Mich. -- Ford Motor Co. made it a hat trick yesterday as the company joined its Big Three rivals in reporting record profits for 1994, making it the auto industry's most lucrative year ever.But Ford's net income of $5.31 billion for 1994 was partially overshadowed by industry reports of weak auto sales in January and another increase in short-term interest rates by the Federal Reserve.The 1994 profit for the No. 2 U.S. automaker was more than double its earnings in 1993. Spurred by strong U.S. sales and recovery in Europe, Ford surpassed by just $8 million its previous earnings record set in 1988.
BUSINESS
By Scott Dance, The Baltimore Sun | June 23, 2014
Silicon Valley giant Oracle Corp. plans to acquire Columbia-based Micros Systems Inc. for $5.3 billion in a deal executives and industry observers said could generate local job growth instead of the typical corporate consolidation. In the deal announced Monday, Oracle offered $68 per share for Micros, about 20 percent more than the shares traded for before rumors of the deal began circulating last week. Oracle would gain the company's stable of brand-name customers, growth opportunities and niche technology processing sales in the hotel, restaurant and retail industries.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | June 23, 2014
Sinclair Broadcast Group Inc. plans to sell two television stations to help the company move ahead with a $1 billion planned purchase of seven ABC affiliates and a Washington-based cable news network. Selling the stations for a combined $97.4 million will allow Sinclair to comply with updated broadcast ownership rules as it aims to win regulatory approval on the purchase from Allbritton Communications by July 27. Sinclair said Monday it expects that deal to close in the third quarter.
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