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BUSINESS
By Hanah Cho and Hanah Cho,Sun reporter | May 10, 2008
Legg Mason Inc., which has already committed almost $2 billion to shore up money market funds hit by the mortgage meltdown, will take another hit to bail out investors in closed-end funds hurt by the collapse of the market for so-called auction-rate preferred stock. The Baltimore asset manager, the seventh-largest U.S.
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HEALTH
By Pamela Wood, The Baltimore Sun | June 23, 2014
Officials with the financially troubled People's Community Health Centers say they are trying to keep their doors open - even as other clinics are preparing to absorb their patients. At a small midday rally Monday in Brooklyn Park, Dr. Carlos Zigel, president of the organization's board of directors, said the nonprofit hasn't given up trying to save its five clinics, which serve some 11,000 low-income residents in Baltimore City and Anne Arundel County. "It's not over yet. We are actively engaging with the various agencies that we've been talking with for several weeks to try and salvage what we can," said Zigel, surrounded by about a dozen People's employees.
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BUSINESS
By LAURA SMITHERMAN and LAURA SMITHERMAN,SUN REPORTER | October 13, 2005
Dissident shareholders waging proxy fights at mutual funds to be transferred from Citigroup Inc. to Legg Mason Inc. were dealt a blow yesterday when independent advisers sided against them. Two investment firms are urging fellow shareholders in six of Citigroup's funds to vote against new management agreements, which would be required once the $3.7 billion deal with Legg Mason is complete. Baltimore-based Legg Mason agreed in June to swap its brokerage business for Citigroup's mutual funds and other assets.
NEWS
By Joe Burris, The Baltimore Sun | January 10, 2014
Officials at the Eagle Cove School, a private co-educational day school in Pasadena with fewer than 100 students, announced this week it would shut down at end of the academic year in June because of financial problems. In a letter to parents and the school community dated Jan. 7, Head of School Laura Kang and board of trustees co-presidents Luanne Adams and Michael Johnson said the school's board voted unanimously to close its doors. Reached Thursday, Kang said the school "just didn't have enough students to keep going.
BUSINESS
By Hanah Cho and Hanah Cho,Sun reporter | March 29, 2008
Legg Mason Inc., the seventh-largest U.S. manager of closed-end funds, said yesterday that it is looking to "restore liquidity" to shareholders of auction-rate preferred stock after the market for such securities dried up amid the credit crisis. Shareholders of these investments - often issued by municipalities, student loan lenders and closed-end funds - have been unable to sell them. Managers such as Legg are studying ways to address those limitations despite the fact that many of these auctions are failing to attract enough buyers.
BUSINESS
By CHARLES JAFFE | October 2, 2005
If a financial adviser ever asks: "How do you like your dividends?" fight the urge to answer with, "Regular and large, thank you." Fight the smart remark because the way you want to pursue dividends is a real decision for fund investors these days. It's not just that yields have improved over the past few years, it's that fund companies keep developing more and different products. It's no longer a choice between fund families and plain-vanilla styles, it's a choice between pursuing dividends in a traditional mutual fund, a closed-end fund or an exchange-traded fund.
BUSINESS
By Donald Saltz | November 1, 1991
Charles Allmon isn't shy -- shareholders of his Growth Stock Outlook Trust were asked recently to rename it after him -- but he is plenty cautious when it comes to investing the trust's money in stocks.Since the trust went into business a bit more than five years ago, Allmon, long a successful financial adviser, has been reluctant to commit much of the trust's money to stocks. His bearishness on the stock market in general means that the Bethesda-based trust is largely in cash.Allmon Trust is a closed-end investment company, unlike a mutual fund in that a closed-ender has a set number of shares that trade back and forth, whereas a mutual can issue any number of new shares as new money comes in, or reduce shares as holders sell.
BUSINESS
By JANE BRYANT QUINN and JANE BRYANT QUINN,1990 Washington Post Writers Group | October 10, 1990
NEW YORK -- It is not only grass that's always greener on the other side of the fence. So, apparently, is money.During the 1980s, while America's jet-set investors focused first on the profits in Japan and then in Europe, one of the decade's strongest stock markets was (have you guessed it?) Mexico's.And, while entrepreneurs go tumbling after opportunities in Eastern Europe, the leading countries of Latin America are years ahead in understanding private investment.Until fairly recently, Central and South America had been written off the investment map. Dictatorship, class grievances, corrupt state-owned enterprises, regulated markets, and hostility to outside capital, especially from the United States, have been holding most of those countries in thrall.
BUSINESS
By Ian Johnson and Ian Johnson,New York Bureau | January 13, 1993
NEW YORK -- Like vassals making their annual pilgrimage to offer up tribute, U.S. investors are flocking to China in hopes of securing economic prosperity for the coming year.With many market strategists already predicting a below-average year for U.S. equities, China and its booming economy are becoming irresistible to many investors, despite its volatile politics. All the big Wall Street investment banks have sent top executives to visit China over the past few months, and many companies are beefing up Hong Kong staffs in anticipation of further economic reforms and continued double-digit economic growth.
BUSINESS
By Andrew Leckey | September 26, 1990
Pick a country. Any country. Germany could be your strong suit. Either Italy or Austria may prove to be an ace in the hole.Due to the Middle East crisis and continued economic concerns, shares of single-country funds are selling at deep-discount prices. These vehicles, as their name implies, hold the shares of companies in one specific nation.The recent apparent bargains contrast sharply to the situation earlier this year, when unprecedented prospects for world peace and free enterprise pushed their prices sky-high.
NEWS
By Arthur Hirsch, The Baltimore Sun | April 5, 2012
The buyers of the Baltimore Jewish Times' publishing company are prepared to close the $1.26 million purchase of the company Friday after a U.S. Bankruptcy Court judge approved the transaction Thursday. The sale will bring an end to 93 years of family ownership. Saying she was "enormously pleased" with the outcome of Monday's bankruptcy auction, Judge Nancy V. Alquist granted the motion by the trustee she appointed to sell the assets to Route 95 Publications LLC, the Rockville-based affiliate of the company that owns Washington Jewish Week.
ENTERTAINMENT
By Richard Gorelick, The Baltimore Sun | April 19, 2011
In my article last week about the closing of Werner's on Redwood Street, I made the claim that its closing and that of Burke's only a few months earlier have left downtown Baltimore without a single restaurant dating from before the Charles Center revitalization, the first wave of what would become known as the Baltimore Renaissance. I qualified that claim by saying that no place was still around "with the pedigree of Werner's. " But I've been wondering: Is there any place at all?
SPORTS
By Jeff Zrebiec, The Baltimore Sun | April 17, 2011
The return of a healthy Brian Matusz would be a welcome development for an Orioles rotation in flux. However, the young left-hander appears to be several weeks away from making his 2011 debut. The Orioles had initially hoped that Matusz would rejoin the club on their 11-day homestand, which begins Monday, and start throwing bullpen sessions off the mound in front of pitching coach Mark Connor and bullpen coach Rick Adair . But Orioles manager Buck Showalter said Sunday that the 24-year-old is still feeling effects from a strained left intercostal muscle and hasn't been cleared to throw off the mound.
NEWS
By Nick Madigan and Liz F. Kay, The Baltimore Sun | December 8, 2010
Holding a little wooden toy and a pair of computer discs that she had salvaged from her desk, Denise Miller Martin was sobbing, her face lined with tears. "Your office is gone, Donna - it's burned out," she kept telling Donna Crivello, owner of the Mount Vernon restaurant that bears her given name, now closed in the aftermath of Tuesday's fire. Martin's revelation came Wednesday after she had inspected the devastated second floor of 800 N. Charles St., which housed both the law firm in which she worked and the offices Crivello shared with her business partner.
NEWS
March 4, 2010
The list The Archdiocese of Baltimore will close these schools at the end of the school year: •Ascension School, Halethorpe •St. Bernardine Catholic School, Edmondson Village •Fr. Charles Hall Catholic School (elementary and middle schools), West Baltimore •St. Clare School, Essex •Holy Family School, Randallstown •St. Katharine School, Queen of Peace Cluster, East Baltimore •Mother Mary Lange Catholic School, Northeast Baltimore •Our Lady of Fatima School, East Baltimore •St.
BUSINESS
By Hanah Cho and Hanah Cho,Sun reporter | May 10, 2008
Legg Mason Inc., which has already committed almost $2 billion to shore up money market funds hit by the mortgage meltdown, will take another hit to bail out investors in closed-end funds hurt by the collapse of the market for so-called auction-rate preferred stock. The Baltimore asset manager, the seventh-largest U.S.
BUSINESS
By LAURA SMITHERMAN and LAURA SMITHERMAN,SUN REPORTER | November 16, 2005
Citigroup Inc. has agreed to the demands of a mutual fund investor who had waged a proxy battle by threatening to vote against the fund's transfer to Legg Mason Inc., removing a hitch in a $3.7 billion deal between the two financial companies. Salomon Brothers Fund, which is under the Citigroup umbrella, decided to open the fund to new investors, a move sought by Elliot Management Corp., the fund's largest investor. In return, Elliott agreed to drop its proxy fight and to vote for a new management agreement that would enable the fund to be transferred to Legg Mason.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | July 20, 1994
Investment gurus are for the birds.That's because anyone who lays claim to holding the only true answers at all times is simply tossing around a lot of, well, birdseed.There are many ways to beat a troubled stock market, and a shrewd investor does best by listening to numerous voices before making decisions.Top-performing investment letters of the past 12 months excelled by employing unique strategies to bring subscribers in ahead of the pack. One overachiever temporarily tossed money into gold-oriented mutual funds, while another bought stock on margin.
BUSINESS
By Hanah Cho and Hanah Cho,Sun reporter | March 29, 2008
Legg Mason Inc., the seventh-largest U.S. manager of closed-end funds, said yesterday that it is looking to "restore liquidity" to shareholders of auction-rate preferred stock after the market for such securities dried up amid the credit crisis. Shareholders of these investments - often issued by municipalities, student loan lenders and closed-end funds - have been unable to sell them. Managers such as Legg are studying ways to address those limitations despite the fact that many of these auctions are failing to attract enough buyers.
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