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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.
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NEWS
June 14, 2014
I have been reading with much interest the letters to the editor regarding the MarylandCAN organization ( "Misunderstanding charter schools," June 8). Some parents blasted it and a member of the other side defended it. However, in my mind, the most interesting part of the debate was when letter writer Dave Ross wrote "throwing around buzzwords that to some have a negative connotation like 'pro-corporate,' 'hedge fund' and 'pro-privatization' not only is misleading but it is unhelpful in facilitating a productive discussion about how to improve the public education landscape for Baltimore City children.
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BUSINESS
By Timothy J. Mullaney | January 28, 1992
Legg Mason Wood Walker Inc. said yesterday that it is beefing up its corporate finance business by hiring 11 professionals from a Philadelphia firm that caters to small and medium-sized companies.The Baltimore-based securities company said it has hired the corporate finance staff of Middle Market Group L.P., which has focused primarily on companies with annual sales of $15 million to $200 million.Legg Mason said its new staff members specialize in mergers and acquisitions and the private placement of securities.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,Sun reporter | April 1, 2008
Business advisory firm FTI Consulting Inc. is buying real estate and finance consulting firm the Schonbraun McCann Group for $125 million, a move FTI expects will make it a leading player among real estate consultants at a time when a global credit crisis is creating demand for such services, FTI said yesterday. FTI, based in Baltimore, said it plans to close on the deal today for $100 million in cash and about $25 million in restricted FTI stock. FTI said it expects to pay an additional amount if earnings exceed certain targets over the next five years.
BUSINESS
By Timothy J. Mullaney | April 30, 1991
Two Annapolis investment firms said yesterday that they will merge in order to form a more diversified company that they hope will become a player in meeting the financing needs of small businesses.Clark Melvin Securities Corp., a stock brokerage firm, and Perkins-DeMaris Inc., a small corporate finance and investment banking firm, will form a joint venture by June 1. Perkins-DeMaris will become a subsidiary of Clark Melvin within a year of that date, said Lawrence T. Lewis III, chairman of Clark Melvin's executive committee.
BUSINESS
By June Arney and June Arney,SUN STAFF | August 29, 1998
Hilary Schneider, vice president of sales and marketing at The Sun, yesterday was named general manager of the newspaper.In her new post, Schneider, 37, will oversee operations and production, information technology and organization development. She will continue to be in charge of advertising, circulation, marketing and new business.The promotion was announced by Michael E. Waller, publisher and chief executive officer of The Sun. The newspaper has not had a general manager for about a decade.
BUSINESS
By Lee Gomes and Lee Gomes,Knight-Ridder News Service | November 1, 1991
SAN JOSE, Calif. -- After five years of expectations that rose, then fell, then rose again, Steve Jobs says his Next Inc. is strong enough that he's considering taking it public.Speaking to reporters at a trade show in New York, Mr. Jobs said for the first time that he wants to issue stock for Next. He said that it could happen within 18 months -- eons in the deal-a-month world of corporate finance.Mr. Jobs also said that he expects workstation sales at Next to continue to pick up and that they will reach $60 million this quarter -- enough to be a small factor in the market but still only about 8 percent of what industry leader Sun Microsystems Inc. sells.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,Sun reporter | April 1, 2008
Business advisory firm FTI Consulting Inc. is buying real estate and finance consulting firm the Schonbraun McCann Group for $125 million, a move FTI expects will make it a leading player among real estate consultants at a time when a global credit crisis is creating demand for such services, FTI said yesterday. FTI, based in Baltimore, said it plans to close on the deal today for $100 million in cash and about $25 million in restricted FTI stock. FTI said it expects to pay an additional amount if earnings exceed certain targets over the next five years.
NEWS
April 28, 2007
Robert F. Hochwarth, a retired railroad lawyer who had been senior counsel at CSX and was an avid sports fan, died of pulmonary disease Wednesday at Levindale Hebrew Geriatric Center and Hospital. The Mays Chapel resident was 76. Mr. Hochwarth was born in Baltimore and raised in Pikesville. He was a 1949 graduate of Loyola High School and earned a bachelor's degree from Loyola College in 1953. He served in the Army from 1953 to 1955 and attained the rank of corporal. He then enrolled at the University of Maryland School of Law. After earning his law degree in 1958, he clerked for Judge William Horney of the Maryland Court of Appeals in Annapolis before joining the Baltimore & Ohio Railroad's corporate finance department in 1961.
BUSINESS
July 29, 1997
Baltimore-based Sinclair Broadcast Group Inc. said yesterday that it still plans to acquire Heritage Media Corp., despite yesterday's announcement that U.S. Department of Justice officials will challenge News Corp. Ltd.'s acquisition of Heritage because of potential antitrust implications.The Justice Department's antitrust field office in San Francisco informed Dallas-based Heritage and Australian media giant News Corp. Ltd. of its decision after the close of the market.The companies have agreed to give the regulators more time either to challenge the transaction or to allow it to close.
NEWS
April 28, 2007
Robert F. Hochwarth, a retired railroad lawyer who had been senior counsel at CSX and was an avid sports fan, died of pulmonary disease Wednesday at Levindale Hebrew Geriatric Center and Hospital. The Mays Chapel resident was 76. Mr. Hochwarth was born in Baltimore and raised in Pikesville. He was a 1949 graduate of Loyola High School and earned a bachelor's degree from Loyola College in 1953. He served in the Army from 1953 to 1955 and attained the rank of corporal. He then enrolled at the University of Maryland School of Law. After earning his law degree in 1958, he clerked for Judge William Horney of the Maryland Court of Appeals in Annapolis before joining the Baltimore & Ohio Railroad's corporate finance department in 1961.
BUSINESS
By COX NEWS SERVICE | July 16, 2004
WASHINGTON - The Senate voted 78-15 last night to give the government broader power to regulate cigarettes and create an industry-financed buyout of tobacco "quotas" that have propped up prices since the 1930s. The vote on the $12 billion tobacco buyout added language to a corporate tax bill needed to end escalating European duties on several U.S. products. Whether it will become law remains in doubt, because little time remains in this legislative year for a House-Senate conference committee to resolve disagreements about the tobacco measure.
NEWS
By Robin Finn and Robin Finn,NEW YORK TIMES NEWS SERVICE | August 20, 2000
NEW YORK - Corporations beware: If you were born around 1865, Deadria C. Farmer-Paellmann is looking for slaves in your archives and may have bad news for you. The sleuthing started in 1992 when, as artistic director of the protest (a 26-hour "drum vigil") that halted excavation of a 17th-century African burial ground near City Hall, Farmer-Paellmann got insider privileges to crunch a hard hat over her dreadlocks and crash the site. There she stumbled on a scene that changed - and channeled - her life's work.
NEWS
By Edward Gunts and Edward Gunts,SUN STAFF | November 8, 1998
Florence L. "Meg" Walsh, a Baltimore native who was one of the architects of telecommunications giant Lucent Technologies, died yesterday of toxic shock syndrome at Morristown Memorial Hospital in New Jersey. She was 37 and had given birth a week before to a son, Dixon, who died at birth of the same cause.At the time of her death, Mrs. Walsh was the treasurer of a company that has 130,000 employees and $30 billion a year in revenues. Since Lucent's formation in 1996 as a spinoff of AT&T, she was responsible for the company's dealings with global capital markets, corporate finance and administration of the more than $50 billion in employee benefit assets and financing of Lucent customers.
BUSINESS
By June Arney and June Arney,SUN STAFF | August 29, 1998
Hilary Schneider, vice president of sales and marketing at The Sun, yesterday was named general manager of the newspaper.In her new post, Schneider, 37, will oversee operations and production, information technology and organization development. She will continue to be in charge of advertising, circulation, marketing and new business.The promotion was announced by Michael E. Waller, publisher and chief executive officer of The Sun. The newspaper has not had a general manager for about a decade.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | April 5, 1998
After a decade of grappling with an underfunded pension fund that once threatened to destroy it, Bethlehem Steel Corp. is on the verge of eliminating that deficit.With help from a strong stock market and more than $1 billion in payments over the past four years, the company's unfunded pension liability is for practical purposes at about zero -- down from about $1.85 billion in 1986, according to company officials and analysts."If we could recognize market value of the fund today, we would be essentially fully funded," said Gary L. Millenbruch, the company's chief financial officer.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | January 20, 1995
Legg Mason Inc. said its profits fell 58 percent in the last three months of 1994, as higher interest rates froze public offerings for bonds and real estate investment trusts and drove investment banking revenues down to just over one-third of late 1993 levels.The Baltimore-based stock brokerage, best known for serving retail customers, said it earned $4.1 million during the quarter, the third of the company's fiscal year. That was down from $9.9 million in the same three months of 1993.Vice Chairman John F. Curley Jr. said the drop in stock and bond offerings was the main reason for the decline.
BUSINESS
By Andrew Leckey and Andrew Leckey,1987 Tribune Media Services, Inc. 435 N. Michigan Ave., Chicago, Ill. 606ll | March 20, 1991
The securities industry, encouraged by the postwar focus on the stock market, is betting on itself.Try to forget those record losses throughout the industry. Wall Street reasons that the small investor, coaxed along by lower interest rates, may be regaining some enthusiasm.As a group, shares of brokerage firms have risen 33 percent this year. Spectacular examples include the stock of Alex Brown Inc., up a whopping 80 percent in value; Quick & Reilly Group, up 76 percent; Charles Schwab Corp.
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.
BUSINESS
July 29, 1997
Baltimore-based Sinclair Broadcast Group Inc. said yesterday that it still plans to acquire Heritage Media Corp., despite yesterday's announcement that U.S. Department of Justice officials will challenge News Corp. Ltd.'s acquisition of Heritage because of potential antitrust implications.The Justice Department's antitrust field office in San Francisco informed Dallas-based Heritage and Australian media giant News Corp. Ltd. of its decision after the close of the market.The companies have agreed to give the regulators more time either to challenge the transaction or to allow it to close.
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