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By June Arney and June Arney,SUN STAFF | January 20, 2001
Columbia-based Magellan Health Services Inc. has signed a definitive agreement for the sale of National Mentor, its human services segment, for $121 million - a move that streamlines its focus on the core business of behavioral managed care. The deal, expected to close during the third fiscal quarter, puts National Mentor into the hands of an entity formed by the management of Mentor and Madison Dearborn Partners, a private equity investment firm. "This represents the final step in our strategy of exiting from provider-based operations," J. Kevin Helmintoller, vice president for investor relations at Magellan, said yesterday.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 10, 2014
The closing of five Baltimore-area NeighborCare Pharmacies on Friday was part of parent company Omnicare Inc.'s move away from retail pharmacies to focus on its core business serving institutions, an Omnicare spokesman said Monday. Customers' prescription records were transferred to Walgreens from the closed locations, including 2600 Liberty Heights Ave., Baltimore; 11085 Little Patuxent Parkway, Columbia; 23 Crossroad Drive, Owings Mills; 4000 Old Court Road, Pikesville; and 325 Hospital Drive, Glen Burnie.
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BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | January 16, 2003
Baltimore-based Provident Bankshares Corp. reported yesterday fourth-quarter results that slightly exceeded expectations, with the bank benefiting from growth in its core business, as well as from its push into the Washington marketplace. Provident, the parent of Provident Bank, recorded net income of $13.3 million for the quarter that ended Dec. 31, a 7 percent increase from the $12.4 million recorded for the corresponding period in 2001. Earnings per share on a fully diluted basis were 53 cents, a 10 percent jump from the 48 cents reported for the year-earlier quarter.
NEWS
By Arne Sorenson and Martin Knott | October 14, 2013
At testy town halls and heated street corner encounters, members of Congress from both parties are hearing from voters like us who are frustrated by the partisan gridlock in Washington. We are tired of hot air and want to see action to heat up our economy, whether it's on immigration reform that will create new jobs or on the ongoing government shutdown and debt ceiling showdown that Congress must find a way to solve. The two of us run businesses based in Maryland. At first glance, you might think that's where the similarities end: Arne's company, Marriott International, operates in more than 70 countries and territories worldwide and counts its number of employees in the six figures.
NEWS
November 16, 2000
TRAPPED BETWEEN the past and the future. That's where the U.S. Postal Service finds itself. It delivers the mail the old-fashioned way, even as futuristic message-delivery competitors steal its business. First-class postage rates are going up once again -- by a penny. Come January, it will cost 34 cents, not 33 cents, to mail a letter to Aunt Lizzy in San Diego. The rate for mailing periodicals will rise nearly 10 percent. Yet this $2.5 billion revenue increase may only hold off the next price rise for a couple of years.
NEWS
By DAN BERGER | October 13, 1999
Six billion people live on earth. Most need automobiles.It's OK to shovel public subsidies at big corporations that break their word, so long as none goes to welfare queens.If the Os appointed a general manager today and had him name a field manager tomorrow, people might suspect they knew what they were doing.Colt's is shutting down its core business, having shot itself in the foot.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 10, 2014
The closing of five Baltimore-area NeighborCare Pharmacies on Friday was part of parent company Omnicare Inc.'s move away from retail pharmacies to focus on its core business serving institutions, an Omnicare spokesman said Monday. Customers' prescription records were transferred to Walgreens from the closed locations, including 2600 Liberty Heights Ave., Baltimore; 11085 Little Patuxent Parkway, Columbia; 23 Crossroad Drive, Owings Mills; 4000 Old Court Road, Pikesville; and 325 Hospital Drive, Glen Burnie.
BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | April 28, 1998
Youth Services International Inc., the Owings Mills operator of facilities for juvenile offenders, rebounded from the sale of its former core business last year to report first-quarter income of $1.1 million, or 11 cents per share.The profit for the quarter ended March 31 is a 159.4 percent increase over the $424,000 made last year in YSI's continuing business, which includes its juvenile justice programs.Taking its former core business into account, YSI lost $21.4 million in the quarter.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | February 24, 1998
Youth Services International Inc., the Owings Mills operator of facilities for juvenile offenders, yesterday reported fourth-quarter income of $4 million, or 39 cents a basic share.While the profit was more than quadruple the $965,000, or 10 cents a basic share, earned in the fourth quarter of 1996, it included a $6.1 million pretax gain from the sale of the company's behavioral health business.Revenue for the three months ended Dec. 31 dipped to $23.3 million vs. $29.3 million in the 1996 period.
NEWS
January 30, 2012
As someone with a vested interest in the health and prosperity of downtown Baltimore and the west side of downtown in particular, I appreciate that Exelon Corp.is committed to maintaining Constellation Energy Group's employment presence in Baltimore, and perhaps even increasing it. I do hope Exelon will choose to keep its offices in the core business district of downtown where, as Kirby Fowler points out in his recent commentary ("Exelon's place downtown,"...
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 8, 2013
Hunt Valley-based Tessco Technologies Inc. said Wednesday that revenue and profits both fell about 18 percent in its most recent quarter compared with a year earlier, driven by its exit from a high-revenue business it considered too low margin. The provider of products for wireless broadband systems produced $2.9 million in net income in its fiscal fourth quarter, which ended March 31. That's down from about $3.5 million in the year-earlier quarter. Revenue fell to about $158 million from almost $195 million a year earlier, while earnings fell to 35 cents a share from 43 cents.
NEWS
AEGIS STAFF REPORT | November 30, 2012
The Town of Bel Air has been awarded a $175,000 state Community Legacy Program grant to be used for the installation of infrastructure in the 1950s-era cinder block garages at the rear of the Bel Air Reckord Armory on Main Street. The town plans to use the garages as temporary incubator spaces to encourage small business start-ups that could eventually more into permanent locations on Main or Bond streets or other downtown Bel Air locations, town Economic Development Director Trish Heidenreich said.
NEWS
January 30, 2012
As someone with a vested interest in the health and prosperity of downtown Baltimore and the west side of downtown in particular, I appreciate that Exelon Corp.is committed to maintaining Constellation Energy Group's employment presence in Baltimore, and perhaps even increasing it. I do hope Exelon will choose to keep its offices in the core business district of downtown where, as Kirby Fowler points out in his recent commentary ("Exelon's place downtown,"...
BUSINESS
By Andrea K. Walker, The Baltimore Sun | June 20, 2011
Smiths Detection developed the portable emergency room to treat soldiers on the battlefield. But the tornado that tore through Joplin, Mo., last month, executives at the Edgewood manufacturer say, showed another potential use. The twister, one of the worst in U.S. history, destroyed the main hospital in the town of 49,000, leaving no sterile place in which doctors could provide care to disaster victims. "We could have quickly deployed the system and helped people who had been hurt," said Tom Brown, the director of business development at Smiths.
BUSINESS
By Paul Adams and Paul Adams,Sun reporter | July 17, 2008
First Mariner Bancorp said yesterday it trimmed its second-quarter loss to $469,000, inching closer to the recovery its founder and chief executive has been promising since the bank's housing-related losses began to mount last year. Edwin F. Hale, whose personal fortune is closely linked to the bank's turnaround, said First Mariner's profits continue to be pulled down by losses on bad real estate and construction loans - the same book of business that is eroding profits of major banks nationwide.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | June 17, 2006
REDMOND, Wash. -- Microsoft stands astride the computing world much as another corporate giant, International Business Machines, once did: Now its task is to avoid repeating IBM's mistakes. As the PC era wanes and the Internet era gathers force, Microsoft's revenues have never been higher and its quarterly profits remain in the billions. But it has yet to find profitability in an array of businesses that it has entered beyond those it has dominated, operating systems and office applications.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 8, 2013
Hunt Valley-based Tessco Technologies Inc. said Wednesday that revenue and profits both fell about 18 percent in its most recent quarter compared with a year earlier, driven by its exit from a high-revenue business it considered too low margin. The provider of products for wireless broadband systems produced $2.9 million in net income in its fiscal fourth quarter, which ended March 31. That's down from about $3.5 million in the year-earlier quarter. Revenue fell to about $158 million from almost $195 million a year earlier, while earnings fell to 35 cents a share from 43 cents.
NEWS
By Greg Schneider and Greg Schneider,SUN STAFF | January 24, 1998
AlliedSignal Inc. is "actively pursuing" the sale of its 800-employee Communications Systems division on Joppa Road in Towson, a spokeswoman confirmed yesterday.The aerospace and automotive company, which has its headquarters in New Jersey, wants to unload the plant so it can "better focus its resources on its core electronics and avionics businesses," said Maria Trintis-Stamas, a local spokeswoman for the company.A sale also would "align its Towson-based operation with a new owner that has a strategic interest in our core competency here, which is advanced secure communications technologies," Trintis-Stamas said.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | January 16, 2003
Baltimore-based Provident Bankshares Corp. reported yesterday fourth-quarter results that slightly exceeded expectations, with the bank benefiting from growth in its core business, as well as from its push into the Washington marketplace. Provident, the parent of Provident Bank, recorded net income of $13.3 million for the quarter that ended Dec. 31, a 7 percent increase from the $12.4 million recorded for the corresponding period in 2001. Earnings per share on a fully diluted basis were 53 cents, a 10 percent jump from the 48 cents reported for the year-earlier quarter.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | December 24, 2002
The Baltimore Sun Co. said yesterday that it has sold its subsidiary that designs custom signs to focus on what it does best - running newspapers. The company said it has sold Signs of Distinction Inc., which it created in 1997 to operate Fastsigns stores in the Baltimore area, to Full Color Graphics Inc. Full Color Graphics is run by John Hooper, who had been the general manager of the five Fastsigns locations, and Craig Shaffer, who will be leaving his...
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