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BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | September 9, 1998
When it comes to the world's capital markets, Federal Reserve Chairman Alan Greenspan has the amiable demeanor of Clark Kent and the power of a Superman -- though unlike the comic-book hero he seems impervious to the Kryptonite powers of economic and political pressure.Many Fed watchers say that it was the mere hint of lower interest rates -- in a speech given by Greenspan Friday night at the University of California, Berkeley -- that sparked yesterday's 380.53-point jump in the Dow Jones industrial average.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | July 19, 2012
Sinclair Broadcast Group Inc. announced an agreement Thursday to buy six television stations from Kansas City, Mo.-based Newport Television for $412.5 million. The Hunt Valley-based broadcaster has been on an acquisition binge in the past year, purchasing 23 stations representing nearly $1 billion in assets. The latest six stations are located in five markets: Cincinnati; San Antonio, Texas; the Harrisburg/Lancaster/Lebanon/York area of Pennsylvania; the combined Mobile, Ala./Pensacola, Fla., market; and Wichita/Hutchinson, Kan. The deal, subject to approval by the Federal Communications Commission, is expected to close no earlier than December, the company said.
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BUSINESS
By Laura Smitherman and Laura Smitherman,SUN STAFF | September 13, 2005
Stifel Financial Corp. has agreed to buy Legg Mason's investment banking, research and trading operations, which Citigroup Inc. had inherited as part of a separate deal. Nearly 500 Legg Mason Inc. employees will join Stifel, which has its headquarters in St. Louis and offices around the country. The employees will stay in their current offices, with about 300 in Baltimore forming Stifel's first branch in the city. Several high-ranking executives, including Richard J. Himelfarb, director of Legg Mason's investment banking, landed comparable positions at Stifel and may be elected to the company's board of directors.
NEWS
By THE NEW YORK TIMES | March 16, 2007
This society cannot go forward, the way we have been going forward, where the gap between the rich and the poor keeps growing. It's not politically viable; it's not morally right; it's just not going to happen."
NEWS
By THE NEW YORK TIMES | March 16, 2007
This society cannot go forward, the way we have been going forward, where the gap between the rich and the poor keeps growing. It's not politically viable; it's not morally right; it's just not going to happen."
BUSINESS
By David Conn and David Conn,Sun Staff Writer | November 18, 1994
After two and a half years on the Securities and Exchange Commission, J. Carter Beese Jr. yesterday rejoined his old firm, Alex. Brown & Sons Inc., as vice chairman of Alex. Brown International, in charge of the firm's international capital markets group.Mr. Beese, 38, announced in August his plans to resign from the SEC, which he joined in March 1992. Earlier this week, he joined the Washington-based Center for Strategic and International Studies as a senior adviser and chairman of the newly established CSIS Capital Markets Regulatory Reform Project.
NEWS
October 29, 1995
J. M. Baughman Associates awarded contractJ. M. Baughman Associates was awarded a contract on Oct. 10 to conduct training at the Institute of Banking Education in Bratislava, Slovakia.As part of the unusual Eastern European program sponsored by the U.S. Agency for International Development, Janice Baughman will spend three weeks instructing bankers about the Western approach to capital markets and enhancing their skills.J. M. Baughman Associates, an organizational development firm based in Columbia, provides performance management to domestic and overseas public and private sector clients.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | July 14, 2001
Squeezed by the stock market's slowdown, Ferris, Baker Watts Inc. said yesterday that it has fired 10 employees, mostly well-paid investment bankers and analysts in its capital markets group. The employees, who represent about 17 percent of the firm's 60-member capital markets unit, were told yesterday morning that they no longer had jobs, and they left that day. "We had to take some bitter medicine," said Steven Shea, executive vice president in charge of equity capital markets at Ferris.
BUSINESS
By Jonathan Peterson and Jonathan Peterson,Los Angeles Times | December 1, 2006
WASHINGTON -- Business lobbyists and their intellectual allies have begun a broad effort to lighten the regulatory burden of corporate America, warning that U.S. companies and the capital markets upon which they rely are losing the competitive battle to rivals overseas. In the latest development, the private Committee on Capital Markets Regulation yesterday released an interim report arguing that regulation, enforcement and litigation have become a weighty burden on the economy, and point to evidence that America's long-envied capital markets have lost some of their allure.
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 Jonathan Peterson and Jonathan Peterson,Los Angeles Times | December 1, 2006
WASHINGTON -- Business lobbyists and their intellectual allies have begun a broad effort to lighten the regulatory burden of corporate America, warning that U.S. companies and the capital markets upon which they rely are losing the competitive battle to rivals overseas. In the latest development, the private Committee on Capital Markets Regulation yesterday released an interim report arguing that regulation, enforcement and litigation have become a weighty burden on the economy, and point to evidence that America's long-envied capital markets have lost some of their allure.
BUSINESS
By ANDREW LECKEY and ANDREW LECKEY,Tribune Media Services | October 22, 2006
Are my shares of Wachovia Corp. going to do well? Will they increase as it grows? - R.D., via the Internet The nation's fourth-largest bank in terms of assets has a driving ambition to become bigger. What's uncertain is whether it might suffer financial consequences by overdoing it, and whether it can improve operational efficiency as it expands into new regions and business lines. There's concern over its latest acquisition, the $23.9 billion takeover of the Golden West Financial Corp.
BUSINESS
By Laura Smitherman and Laura Smitherman,SUN STAFF | September 13, 2005
Stifel Financial Corp. has agreed to buy Legg Mason's investment banking, research and trading operations, which Citigroup Inc. had inherited as part of a separate deal. Nearly 500 Legg Mason Inc. employees will join Stifel, which has its headquarters in St. Louis and offices around the country. The employees will stay in their current offices, with about 300 in Baltimore forming Stifel's first branch in the city. Several high-ranking executives, including Richard J. Himelfarb, director of Legg Mason's investment banking, landed comparable positions at Stifel and may be elected to the company's board of directors.
BUSINESS
By Laura Smitherman and Laura Smitherman,SUN STAFF | August 26, 2005
Legg Mason Inc.'s capital markets division, which the Baltimore firm agreed to sell along with its brokers to the financial powerhouse Citigroup Inc., has been stung by a string of defections to competitors as employees speculate that their division will soon be sold again. Citigroup and Legg Mason agreed in June to swap portions of the companies to focus on their most profitable businesses. The $3.7 billion deal enables Citigroup to expand its broker network and turns Legg Mason, which will get the Smith Barney unit, into the fifth-largest money manager in the world.
BUSINESS
By Mike Hughlett and Mike Hughlett,CHICAGO TRIBUNE | April 30, 2005
Clear Channel Communications Inc. joined the growing ranks of big media companies electing to break themselves up yesterday, posing the question of whether being so big was such a good idea after all. The answer is not clear, but the hype that drove media conglomeration in the 1990s has not lived up to its promise. San Antonio-based Clear Channel, the world's largest radio broadcaster, plans to spin off its live entertainment business and sell 10 percent of its outdoor advertising segment in a stock offering.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | November 18, 2003
Mercantile Bankshares Corp. announced yesterday that it has formed a new capital markets group to provide corporate and nonprofit customers with financing, interest-rate hedging and other advisory services on capital projects such as new buildings. The Baltimore-based bank said it had hired two former M&T Bank executives to head the new unit, called the Mercantile Capital Markets Group. The executives, Howard M. Sakin and Hans-Michael Hurdle, have been named senior vice presidents and are reporting to Kenneth A. Bourne, an executive vice president of Mercantile-Safe Deposit and Trust Co. Bourne said the two executives have already assumed their new posts.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | August 28, 1996
Robert A. Frank, the Alex. Brown Inc. managing director who established the investment firm as a prominent force in the burgeoning real estate investment trust industry, yesterday resigned to co-head the capital markets division at competitor Legg Mason Inc.In his new position, Frank will also become an executive vice president and head of research at Legg Mason, which manages $35 billion in assets and posted record net earnings of $38 million in its fiscal...
BUSINESS
By BLOOMBERG NEWS | October 16, 1997
CHARLOTTE, N.C. -- First Union Corp.'s third-quarter earnings rose 14 percent as the bank boosted revenue by expanding corporate finance and money-management businesses.The Charlotte, N.C.-based bank said net income rose to a record $505 million, or 90 cents a share, from $442 million, or 81 cents, in the year-earlier period. The earnings beat the average Wall Street forecast of 89 cents a share from a survey of analysts by IBES International Inc.First Union shares fell 31 cents to $51.0625.
SPORTS
By Jon Morgan and Jon Morgan,SUN STAFF | August 13, 2002
Horse racing fans in the future may be surprised at what they find at the track: touch-screen video monitors, corporate suites, hand-held devices that permit patrons to bet from their seats. As publicly traded conglomerates buy up tracks around the country -- including Maryland's -- they are bringing marketing savvy and investment capital to a sport badly in need of both. The result is a flurry of track upgrades, which, if it continues, could help the sport regain lost popularity. "The industry has lagged a bit in the entertainment world.
SPORTS
By Sandra McKee and Sandra McKee,SUN STAFF | November 12, 2001
WASHINGTON - The Washington Capitals had put together a great plan for this season. A run at the Stanley Cup was in their view finder. And Washington may still make the run. But if the Caps do, they will do it in quite a different way from what they had first imagined. Saturday, the team learned it will be without defenseman Calle Johansson, its longtime defensive anchor. The 14-year Caps' veteran is having surgery today to repair a severely torn right rotator cuff and will be out for up to eight months.
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