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BUSINESS
By KURT BLUMENAU and KURT BLUMENAU,THE MORNING CALL | June 21, 2006
Tribune Co. is sticking with its $2 billion stock repurchase and will complete it next week, despite opposition from one of its largest shareholders, Tribune's top executive said yesterday. Speaking at an industry conference in New York yesterday, Chief Executive Officer Dennis FitzSimons said the buyback announced May 30 is "on track." Tribune, which owns The Morning Call, the Chicago Tribune, Los Angeles Times and The Sun among its newspapers, is repurchasing up to 75 million shares of its stock in a bid to boost its sagging stock price.
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NEWS
By Carrie Wells, The Baltimore Sun | July 26, 2014
They came with .22-caliber rifles wrapped in trash bags, Saturday night special handguns, rusted shotguns handed down from grandparents. A crowd of dozens lined up by 10 a.m. Saturday at a Northwest Baltimore church parking lot, most with gray hair and some leaning on canes or using hearing aides. They left with one $100 ShopRite Supermarket gift card per gun turned in. Many were skeptical that the gun buyback event would achieve organizers' goal of reducing city crime, though they were pleased to get something of value for guns that in many cases hadn't been fired in years or decades.
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NEWS
By Jessica Anderson, The Baltimore Sun | November 20, 2010
Two churches took 42 working firearms off the street Saturday during a gun buyback sponsored by The Catholic Review newspaper in hopes of curbing violence in the city. "Any weapons we get off the street is a good thing in this time, in this neighborhood," said the Rev. Peter Lyons of St. Wenceslaus Church in the Middle East neighborhood of Baltimore. Violence in the community just east of Johns Hopkins Hospital, he said, erupts "every weekend it seems. " At St. Gregory the Great Church on North Gilmor Street in the Sandtown-Winchester neighborhood, the Rev. Damien Nalepa said 26 guns were collected, "the second-highest" take among the half-dozen or so buybacks the parish has held.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 20, 2014
Sinclair Broadcast Group Inc. offered to restructure its nearly $1 billion planned acquisition of seven ABC affiliates and a Washington-based cable news network, changes it says will satisfy cross-ownership concerns recently raised by the Federal Communications Commission. The Hunt Valley broadcaster also announced Thursday that its board of directors approved spending $150 million more to repurchase shares. In a letter Thursday to the FCC, Sinclair proposed eliminating "shared service agreements," at TV stations in three of the markets where it plans to buy an ABC affiliate from Allbritton Communications.
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
September 26, 1996
USF&G Corp. directors voted yesterday to more than double the amount of common stock the company can repurchase to 11 million shares from 5 million.The Baltimore-based insurer has bought 3.6 million shares since it began purchasing its stock in April.The move reflects USF&G's belief that the once troubled insurer's franchise will increase in value over the next several years, the company said."We believe that USF&G's stock represents a highly attractive investment opportunity for us," said Norman P. Blake Jr., chairman and chief executive of the $14.4 billion-asset property, casualty and life insurance company.
NEWS
By Dan Rodricks | February 14, 2000
I SEE WHERE THE city has more federal money for another gun buyback program. You get $100 for handguns, $50 for long guns. Does that mean you get $75 for a sawed-off long gun? A gun buyback is great symbolism, but it doesn't achieve anything of lasting significance. (Most people who sell the guns do so because they never use them and want the cash.) Instead, that $286,000 from the Clinton administration could treat a lot of drug addicts, the heart of Baltimore's violent crime problem. Or here's another suggestion: Take the gun funds, add it to the $500,000 Peter Angelos and other downtown movers are putting into a new west-side development agency that's probably redundant to the city's own development agency, and the mayor and police commish can keep those nine PAL centers open for kids.
BUSINESS
By Bloomberg Business News | November 19, 1992
CUPERTINO, Calif. -- Apple Computer Inc. stock jumped yesterday after the company said it would repurchase up to 10 million shares, or 8 percent of its outstanding common stock, in the latest of a series of buybacks that began in 1986.L Apple stock closed at $57.75, up $2.50 from Tuesday's close.Apple spokesman Bill Slakey said the buyback "is a good use of our cash for the benefit of our shareholders."Besides approving the buyback, Apple's board of directors also declared a dividend of 12 cents per share for the fourth quarter ended Sept.
NEWS
June 4, 2000
Baltimore's housing authority collected 191 weapons yesterday in its second gun buyback, a quarter of what it took in a month ago. The daylong effort, at Pleasant View Gardens in East Baltimore, didn't come close to matching the 760 firearms turned in during an April 29 buyback in West Baltimore. Maj. Cornelius Hairston attributed the weaker turnout to a lack of publicity, and the fact that yesterday's buyback had been postponed twice. Authorities spent $16,300 yesterday, compared with $66,000 on the first buyback.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | October 26, 1995
Mid Atlantic Medical Services Inc. of Rockville announced a smaller-than-expected third-quarter profit yesterday, but instantly won back the loyalty of investors by announcing a $40 million stock buyback plan.Shares in the managed care concern rose $1.125 to $20.25 after the company said it earned $14.4 million, or 30 cents a share, during the three months that ended Sept. 30. The profit was 6 percent better than the company's performance in the same months of 1994."In general, we are pleased with the outcome of the first nine months of 1995," MAMSI chairman George T. Jochum said.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 19, 2014
Jos. A. Bank Clothiers Inc. said Wednesday it has started buying back up to $300 million worth of its shares at $65 each, a step toward its planned acquisition of retail chain Eddie Bauer. The Hampstead-based men's apparel retailer said the offer will expire at midnight March 18, unless the company extends the deadline. The stock buyback is subject to closing the Bauer acquisition and designed to mollify shareholders pushing for a $1.6 billion hostile bid for Bank by rival chain Men's Wearhouse.
BUSINESS
By Natalie Sherman, The Baltimore Sun | February 4, 2014
One day after emerging from bankruptcy, W.R. Grace & Co. announced that it may repurchase up to $500 million in stock over the next one to two years. The Columbia-based chemical maker ended a 13-year bankruptcy reorganization Monday, paying off all its debts and setting aside more than $4 billion in trusts to cover its asbestos liabilities. "This program demonstrates our commitment to increasing long-term shareholder value," said Fred Festa, Grace's chairman and CEO. "Our strong balance sheet and cash flow provide the financial flexibility both to invest in growth and return capital to shareholders.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 13, 2013
Shares of Jos. A. Bank Clothiers Inc. jumped 12.5 percent Tuesday after investment manager BeaconLight Capital LLC urged the Hampstead-based men's apparel chain to change direction by reorganizing its board and returning cash to shareholders. "We are convinced that tremendous value is trapped inside the company," Ed Bosek, BeaconLight's managing partner said in a publicly released letter Tuesday to the board. Bank shares rose $5.03 to close at $45.33 per share on the NASDAQ. BeaconLight, which owns more than 1 percent of Jos. Bank stock, criticized the company's performance, lack of communications with shareholders, strategy of seeking acquisitions and "staggering" cash reserve of $377 million at the end of the fiscal year.
NEWS
By Ian Duncan, The Baltimore Sun | March 16, 2013
A line of cars snaked around the government office parking lot, down Bendix Road and for up to half a mile along Route 108 in the late morning and the afternoon, as people waited for hours to trade in guns to Howard County police for crisp $100 bills. At the end of the day police had recovered 631 guns and at 2:30 had to start turning cars away, officials said. The last time they tried a similar effort in 1995, the total number of guns collected was three. "We didn't know what to expect," said Chief William McMahon, but officials were pleased with the turnout.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 24, 2013
Micros Systems Inc. reported Thursday it earned $44.1 million in the second quarter ended in December, about a 15 percent increase from a year earlier. On a per share basis, the Columbia company earned 54 cents, compared with 47 cents a year earlier. Micros, a supplier of information systems to the hospitality and retail industries, also reported revenue rose by 20 percent in the quarter to $324.5 million from a year ago. On Tuesday, the company's board of directors approved the repurchase of 2 million shares of Micros common stock.
NEWS
By Ian Duncan, The Baltimore Sun | December 15, 2012
With the violent attack on a Connecticut elementary school weighing on many minds, hundreds of people turned in 461 guns to Baltimore police at a buyback Saturday. Sonia White, a 65-year-old Baltimore County grandmother, was turning in her husband's old corrections department service revolver. "After the incident yesterday, it was time to get it out of the house," she said, adding that she cried when she went to pick her grandchildren Friday, realizing that a similar attack could have happened anywhere.
NEWS
By James Bock and James Bock,Sun Staff Writer | December 5, 1994
Warren A. Brown went on a $15,000 spending spree, and yesterday he felt the richer for it.Mr. Brown wasn't doing holiday shopping when he spent a big stack of $50 bills Saturday. He was buying guns at his downtown law office from anyone -- with no questions asked -- to get them off Baltimore's streets.Yesterday the defense lawyer totaled his purchases: 265 weapons -- 182 handguns, 22 sawed-off shotguns and 61 rifles -- at a cost of a "tad over $15,000."Police said it was the most successful recent gun buyback day in Baltimore.
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | October 19, 1994
In an effort to persuade skeptical investors that their stock is worth more than the going price, PHH Corp. announced yesterday that it would buy back as many as 1.7 million shares -- or about 10 percent of those outstanding."
BUSINESS
By Eileen Ambrose, The Baltimore Sun | September 7, 2012
Fairmount Bancorp announced Friday that it plans to repurchase up to 25,000 shares of its common stock, or about 5 percent of the total outstanding shares. The parent of the Baltimore County-based Fairmount Bank said it will buy shares periodically over the next six months depending on market conditions. Joseph M. Solomon, president and CEO, said in a statement that the company's strong capital position allows it to conduct the buyback to enhance stockholder value.
FEATURES
By Timothy B. Wheeler, The Baltimore Sun | March 31, 2011
With Maryland's crabbing season getting under way Friday, the state is making a new bid to buy back commercial fishing licenses, particularly from the 650 license-holders officials estimate are no longer active on the Chesapeake Bay. The Department of Natural Resources mailed buyback offers last month to all 2,258 people with unlimited tidal fishing or crab harvester licenses. The amount offered ranges from a base of $4,000 for the crab harvester license, which allows the holder to fish with up to 300 crab pots, to $12,000 for a tidal fishing license with authorization for 900 crab pots in the bay. State officials say the buyback is intended to keep pressure on the bay's rebuilding crab population from soaring if all the holders of unused licenses were to go back on the water.
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