Advertisement
HomeCollectionsCapital Management
IN THE NEWS

Capital Management

FEATURED ARTICLES
BUSINESS
By Bill Atkinson | November 4, 1996
JAMES D. HARDESTY knew he loved the money management business the day he started working in the mailroom at Alex. Brown Inc. as a 17-year-old high school student.His appetite was whetted as he delivered mail and overheard talk among brokers. He devoured the research reports he mimeographed, and he was gripped by the loud, frantic traders who sent him out for coffee."I was fascinated from the beginning," he recalls.Today, the 50-year-old Hardesty is still as charmed by stocks, bonds and money.
ARTICLES BY DATE
BUSINESS
By Natalie Sherman and The Baltimore Sun | September 15, 2014
Boutique investment firm Hardesty Capital Management moved this month from its longtime home in Mount Vernon to a new office in Hunt Valley, which it said offers more modern conveniences and room to grow, while being closer to its customer base of wealthy Maryland families. The firm has looked to add clients, even as the rising stock market has helped drive its assets under management to more than $900 million, a record for the business. President Chad Meyer, who was hired as chief marketing officer last year, said the 14-person firm is looking to hire more people on the investment side to handle the increased funds, as well as staff that would help bring in business from other parts of Maryland and southern Pennsylvania.
Advertisement
BUSINESS
By David Conn and David Conn,Staff Writer | December 15, 1992
Alex. Brown Inc. announced yesterday that it has taken a small equity interest in a new investment management firm created by Richard C. Hackney Jr., who is leaving Alex. Brown to establish Hackney Capital Management L.P.Mr. Hackney, who was president of Alex. Brown's Flag Investors Emerging Growth Fund, is majority owner of his new firm.Five years ago, Baltimore-based Alex. Brown helped broker Nathan A. Chapman Jr. leave the firm and set up his own, now a successful minority-owned brokerage with offices in about a half-dozen cities.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | August 24, 2014
Gordon L. Smith Jr., chairman of the board and a co-founder of Baltimore Capital Management and a former longtime resident of Phoenix, Baltimore County, died Aug. 17 at Beebe Medical Center in Lewes, Del., after open-heart surgery. He was 70. The son of Gordon L. Smith Sr., a salesman for real estate firm S.L. Hammerman Co., and Mary Louise Stansbury Smith, a Hochschild-Kohn sales associate, Gordon Lee Smith Jr. was born in Baltimore and raised in the Loch Raven neighborhood. After graduating in 1963 from City College, he earned a bachelor's degree in economics in 1966 from the University of Maryland, College Park.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | July 15, 1998
First Union Corp. reported yesterday record income of $883 million in the second quarter, up 23 percent before merger-related and restructuring charges.The nation's sixth-largest banking company made 92 cents per diluted share in the second quarter, which ended June 30, up 24 percent from the 74 cents per diluted share in the same time year earlier.The results beat Wall Street analysts' estimates by 2 cents, said Zacks Investment Research, which tracks earnings predictions.After $634 million in merger-related charges in the second quarter, the Charlotte, N.C.-based company made $249 million, or 26 cents per diluted share, down from $682 million, or 70 cents a share.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | March 31, 2000
Two companies that broker Nathan A. Chapman Jr. plans to merge to create a publicly traded Internet financial services firm restated 1999 earnings yesterday, giving both companies losses for the year. Chapman Holdings Inc., a Baltimore-based brokerage and investment banking firm, lost $442,000 last year as a result of an accounting change. The move reversed a $364,000 profit previously reported. Chapman Capital Management Holdings Inc., an investment advisory company, said it lost $853,000 last year, widening its previously reported loss of $582,000.
NEWS
By Gerard Shields and Gerard Shields,SUN STAFF | January 29, 2002
Baltimore County received a B+ in a national report card on government efficiency, the third-highest grade given in a study of the nation's 40 largest counties. The information, to be released today by the Maxwell School at Syracuse University and Governing magazine, graded counties in five areas: financial management, capital management, human resources, managing for results and information technology. Baltimore County exceeded the national average in all five areas, falling behind only Fairfax County, Va., and Maricopa County, Ariz.
BUSINESS
By BLOOMBERG NEWS | August 24, 1999
CHARLOTTE, N.C. -- Bank of America Corp., the biggest U.S. bank, said yesterday that it is combining money management units catering to wealthy people, institutions, and mutual fund investors into one group "to more effectively serve client needs and build our business."Michael Kenneally, now president of Bank of America Investment Management in St. Louis, is to oversee the money management functions for the new group.Holly Deem, the president of TradeStreet Investment Associates Inc. in Charlotte, is to head operations, and Robert Gordon, president of NationsBanc Advisors Inc. in Charlotte, is to direct marketing and product development.
BUSINESS
By BLOOMBERG NEWS | August 5, 1999
NEW YORK -- The chief executive officer of First Union Corp., which is struggling to regain investor confidence after twice cutting its profit forecast this year, told analysts and investors yesterday that he is disappointed with the bank's performance."
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | November 16, 2001
eChapman.com Inc., the struggling Baltimore brokerage and money management firm, said its loss widened in the third quarter and revenue fell more than 12 percent in the face of a weak stock market and bad economy. The company lost $503,000, or 4 cents per share, in the quarter that ended Sept. 30, compared with a loss of $332,000, or 3 cents per share, in the corresponding period a year earlier. During the first nine months of the year, eChapman's loss increased 69 percent to $2.7 million, or 21 cents per share, compared with a loss of $1.6 million, or 12 cents per share, a year earlier.
NEWS
By Eileen Ambrose, The Baltimore Sun | December 21, 2013
If you want to know something about the history of the Baltimore investment community, you might want to call James Hardesty. The 67-year-old history buff and chairman of Hardesty Capital Management has spent his career in Baltimore, starting with a job in the mail room of Alex. Brown & Sons and later as an executive at the old Mercantile Safe Deposit & Trust Co. Both Baltimore companies eventually were acquired. He founded his own investment firm in Baltimore in 1995. Today, it manages $800 million in assets, with a goal of reaching $1 billion within two years.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 22, 2013
Legg Mason Inc. has lost two key employees of its Legg Mason Capital Management, including portfolio manager Mary Chris Gay. Gay, manager of an overseas version of the subsidiary's well-known Value Trust fund, and Randy Befumo, head of research at Legg Mason Capital Management, left May 15 and are "pursuing other opportunities," said spokeswoman Mary Athridge. Sam Peters, manager of the Value Trust fund in the United States, last week replaced Gay as manager of the Value Fund that is modeled after the Value Trust.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 4, 2013
Legg Mason Capital Management's chief investment strategist, Michael J. Mauboussin, resigned as of Jan. 2, said Mary Athridge, Legg Mason Inc.'s spokeswoman. Mauboussin's resignation is not a surprise, and he's expected to announce his plans in the next couple of weeks, she said. Right now, Athridge said, he is focused on promoting his newest book, "The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing. " Before joining the Capital Management subsidiary of Baltimore-based Legg Mason in 2004, Mauboussin was the managing director and chief U.S. investment strategist at Credit Suisse.
NEWS
By Lorraine Mirabella, The Baltimore Sun | March 8, 2012
Mall owner Simon Property Group said Thursday it would increase its ownership in Arundel Mills Mall and Arundel Mills Marketplace in Hanover as part of a $1.6 billion deal to acquire its joint venture partner's stake in 26 Mills malls and shopping centers nationwide. Simon has signed an agreement with Farallon Capital Management LLC to acquire Farallon's stake in properties owned by The Mills Limited Partnership. The purchase price includes the repayment of some of the Mills' debt.
BUSINESS
By Hanah Cho and Hanah Cho,hanah.cho@baltsun.com | March 18, 2009
Bruce Sherman, whose once-top-performing unit at Legg Mason Inc. was ravaged by losses on investments in Bear Stearns Inc. and several newspaper companies, is retiring at the end of the month. Sherman, 60, co-founded Private Capital Management, a money manager catering to wealthy investors that Legg bought in 2001 for nearly $1.4 billion. Sherman said in a brief interview yesterday that retirement was a difficult decision. "I sold the firm in 2001, and there was an inevitability of retirement at some point in time," Sherman said, noting March 31 was a logical time, since it is the end of Legg's fiscal year.
BUSINESS
By Hanah Cho and Hanah Cho,hanah.cho@baltsun.com | October 30, 2008
Legg Mason Inc. said yesterday that it will cut jobs at its Baltimore headquarters and money-management subsidiaries, starting with the dismissal today of about one-third of the employees at the division run by famed stock picker Bill Miller. Legg Mason Capital Management, which Miller oversees as chairman and chief investment officer, confirmed yesterday that it plans to cut 40 to 50 people from its work force of 147, with notices going out today. The Baltimore-based division, like its parent, is having a turbulent year.
BUSINESS
May 8, 1991
InsuranceMarc Rogers has been named director of corporate audit for Blue Cross and Blue Shield of Maryland. Formerly director of internal audit for EQUICOR Inc., he helped develop the joint venture between the Hospital Corp. of America and the Equitable Life Assurance Society.Financial servicesSharrie K. Wade and Ron Hutchinson have been elected to the board of directors of North Arundel Savings Bank, FSB. Wade is a partner in the certified public accounting firm of Clark and Anderson, P.A. Hutchinson is a Realtor who is president of Water Oak Realty Ltd.* At Alex.
BUSINESS
By Peter H. Frank | April 22, 1991
They seem like perfect complements. Paul D. Corbin is a right-handed native of Washington. M. Elliott Randolph Jr. is a left-handed Baltimorean. Each spent more than 10 years at First National Bank of Maryland, and they have spent their careers managing other people's money.Indeed, the five years they have played on the tennis court apparently represents their biggest chance to compete."Paul's a strong singles player," Mr. Randolph said, avoiding the answer to a question about who wins their tennis matches.
BUSINESS
By Paul Adams and Paul Adams,Sun reporter | July 26, 2008
Baltimore-based T. Rowe Price Group's plain vanilla approach to investing led it to a $162.2 million quarterly profit, while its flashier crosstown peer, Legg Mason Inc., reported a $31.3 million loss as its star fund managers continued to struggle in a bear market, the companies reported yesterday. Price's profit for the second quarter that ended June 30 matched the $162.2 million it earned in the year-earlier period despite a volatile market that left most major financial firms staggering.
BUSINESS
By New York Times News Service | May 10, 2008
It has been a rough stretch for those who have invested with Bruce S. Sherman, the co-founder of Private Capital Management. After years of stellar performance, his asset management firm has stumbled. Based in Naples, Fla., it was one of the big losers in the near-collapse of Bear Stearns Cos., with total losses estimated at several hundred million dollars. That debacle followed huge losses in newspaper company stocks, which Sherman abandoned by the end of 2007, according to public filings.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.