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By New York Times News Service | November 24, 1993
NEW YORK -- A shiver of concern swept through New York's garment industry yesterday as some factoring companies and credit-rating agencies advised their clients against shipping goods to Joppa-based Merry-Go-Round Enterprises Inc., the trendy but struggling operator of specialty stores.The company, which operates the Merry-Go-Round, Cignal, Attiva and Dejaiz chains, has been paying its bills regularly, manufacturers said yesterday."This has been a very fine, fine company, but they've had some difficulties this year," said Richard Posner, executive vice president of Credit Exchange Inc., a credit monitoring agency.
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BUSINESS
By Hanah Cho, The Baltimore Sun | December 14, 2011
An Exelon executive would run the business unit that would remain in Baltimore if the proposed merger between Constellation Energy Group and Exelon Corp. is approved, Chicago-based Exelon said Wednesday. Under the merger, Constellation Energy's growing retail and wholesale power-selling businesses, known as NewEnergy, would retain the Constellation brand name. Exelon's similar business in Pennsylvania would join the group in Baltimore. Kenneth W. Cornew, a senior vice president and president of Exelon Power Team, would become the combined company's executive vice president and chief commercial officer as well as chief executive officer of Constellation.
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BUSINESS
By Jonathan Azrael | April 18, 2004
Getting the best rate on a home mortgage depends on your credit rating, your debt ratio and the loan-to-market-value ratio of your real property. Lenders use these three factors to assign a grade to your loan. A-paper is the highest-quality loan, and D-paper carries the highest risk for the lender. Credit rating: Lenders review your credit report to see whether you pay late, have defaulted on debts or filed bankruptcy. Borrowers with no late charges for the past seven years usually can qualify for A-paper loans.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 6, 2010
Old Mutual announced Friday that it is selling its Baltimore-based life insurance operation to a private equity firm for $350 million, far less than what it paid nine years ago. The company bought the division — part of the former U.S. Fidelity & Guaranty Corp. — from the St. Paul Cos. in 2001 for $635 million. Old Mutual is trying to improve its balance sheet and reduce its "risk profile," and is selling to an affiliate of New York-based Harbinger Capital Partners LLC. The life insurance operation employs 163 in Baltimore.
BUSINESS
By EILEEN AMBROSE | February 5, 2009
Lifting your credit score is important during a downturn The average credit score has barely budged despite a recession that's lasted more than a year, according to credit reporting agency Experian. But what has changed significantly is the score needed to be viewed as a good credit risk to lenders. Two years ago, you could easily get credit if you had a FICO score of 680 or higher, says John Ulzheimer with Credit.com. Now to be considered a very good credit risk, lenders expect 750 or more, he says.
BUSINESS
March 30, 2004
Banking and Finance Umstead, Satteson, Box are named Provident VPs Provident Bank appointed Avis Arnette Umstead senior vice president, Karl A. Satteson as vice president and retail sales manager, and Kimberly Box as vice president. Umstead will head the bank's credit risk review department. She will manage the evaluation of the credit risk management process. Formerly with Riggs Bank, the Tufts University graduate lives in Ellicott City. Satteson is assigned to Provident Investment Co. subsidiary, where he manages a group of financial advisers for the Maryland, Washington and Virginia area.
BUSINESS
By Hanah Cho, The Baltimore Sun | December 14, 2011
An Exelon executive would run the business unit that would remain in Baltimore if the proposed merger between Constellation Energy Group and Exelon Corp. is approved, Chicago-based Exelon said Wednesday. Under the merger, Constellation Energy's growing retail and wholesale power-selling businesses, known as NewEnergy, would retain the Constellation brand name. Exelon's similar business in Pennsylvania would join the group in Baltimore. Kenneth W. Cornew, a senior vice president and president of Exelon Power Team, would become the combined company's executive vice president and chief commercial officer as well as chief executive officer of Constellation.
BUSINESS
By Andrew Leckey | January 9, 1991
Never overlook the value of a good scare. Pondering the "worst-case scenario" provides food for thought.While many experts believe that we'll escape with a relatively mild recession that ends by midyear, that declining interest rates will be helpful, and that there is hope for the stock market, one should consider the other side of the coin as well. A "safety-first" attitude, even if confined to a portion of your investment portfolio, is no joke during recession. Your personal confidence level, not the words of experts, should be the deciding factor.
BUSINESS
By Eric Jacobson and Eric Jacobson,MORNINGSTAR.COM | July 7, 2002
All in all, things have been looking pretty good in the muni market this year. That might seem a bit counterintuitive given the concerns faced by New York in the wake of last September's terror attacks. Add to that the hangover from California's power crisis, which promises to add a glut of supply to that state's muni market later this year. But while the latter has put some modest pressure on California bonds, New York issues have been fairly strong. Meanwhile, the municipal market has surged past the taxable universe.
BUSINESS
By Jeff Brown and Jeff Brown,KNIGHT RIDDER/TRIBUNE | January 25, 1998
Investing involves risk. We all know that, don't we?Sure, but after years of a galloping bull market, it's easy to shrug off the risks, pointing to the long-term performance that has made stocks big winners for people who stick out the downturns. Still, now that the market has become so volatile, it's worth reviewing all the types of risks we face.To this end, the Forum for Investor Advice, a nonprofit outfit set up by 70 fund companies, brokerages, banks and insurers, recently listed key investment risks:Economic risk -- when the economy slows, recession threatens and falling company earnings drag down stock prices.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,jamie.smith.hopkins@baltsun.com | November 20, 2009
The mortgage crisis has worsened to the point that about one in every 10 prime borrowers in Maryland and nationwide - homeowners judged to be good credit risks - were behind on payments in September. The Mortgage Bankers Association, releasing those numbers Thursday, blamed unemployment, which is at a 26-year high in Maryland and the United States. Falling home prices are another factor, because owners who owe more than their properties are worth cannot easily sell them. High-interest "subprime" loans, on the other hand, are no longer the big problem.
BUSINESS
By EILEEN AMBROSE | February 5, 2009
Lifting your credit score is important during a downturn The average credit score has barely budged despite a recession that's lasted more than a year, according to credit reporting agency Experian. But what has changed significantly is the score needed to be viewed as a good credit risk to lenders. Two years ago, you could easily get credit if you had a FICO score of 680 or higher, says John Ulzheimer with Credit.com. Now to be considered a very good credit risk, lenders expect 750 or more, he says.
BUSINESS
By McClatchy-Tribune | January 2, 2008
Mortgage lenders aren't the only ones showing more interest in your credit score these days - the health industry is creating its own score to judge your ability to pay. The new medFICO score, being designed with the help of credit industry giant Fair Isaac Corp., could make its debut as early as this summer in some hospitals. Healthcare Analytics, a Waltham, Mass., health technology firm, is developing the score. It is backed by funding from Fair Isaac, of Minneapolis; Dallas-based Tenet Healthcare Corp.
BUSINESS
By Jonathan Azrael | April 18, 2004
Getting the best rate on a home mortgage depends on your credit rating, your debt ratio and the loan-to-market-value ratio of your real property. Lenders use these three factors to assign a grade to your loan. A-paper is the highest-quality loan, and D-paper carries the highest risk for the lender. Credit rating: Lenders review your credit report to see whether you pay late, have defaulted on debts or filed bankruptcy. Borrowers with no late charges for the past seven years usually can qualify for A-paper loans.
BUSINESS
March 30, 2004
Banking and Finance Umstead, Satteson, Box are named Provident VPs Provident Bank appointed Avis Arnette Umstead senior vice president, Karl A. Satteson as vice president and retail sales manager, and Kimberly Box as vice president. Umstead will head the bank's credit risk review department. She will manage the evaluation of the credit risk management process. Formerly with Riggs Bank, the Tufts University graduate lives in Ellicott City. Satteson is assigned to Provident Investment Co. subsidiary, where he manages a group of financial advisers for the Maryland, Washington and Virginia area.
BUSINESS
By KENNETH HARNEY | November 30, 2003
HOMEBUYERS and mortgage refinancers should be among the major beneficiaries of new legislation reforming the nation's consumer credit rules and practices, approved by the House and Senate just before the Thanksgiving recess. Mortgage applicants in all 50 states will be able to request and obtain one free copy per year of their credit reports from each of the three national credit repositories - Equifax, Experian, and TransUnion. Now, residents of only a handful of states have that right.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 6, 2010
Old Mutual announced Friday that it is selling its Baltimore-based life insurance operation to a private equity firm for $350 million, far less than what it paid nine years ago. The company bought the division — part of the former U.S. Fidelity & Guaranty Corp. — from the St. Paul Cos. in 2001 for $635 million. Old Mutual is trying to improve its balance sheet and reduce its "risk profile," and is selling to an affiliate of New York-based Harbinger Capital Partners LLC. The life insurance operation employs 163 in Baltimore.
BUSINESS
By Werner Renberg | February 24, 1991
With money-market-fund yields falling every week since December in reflection of the Federal Reserve's easier money policy, you may wonder whether the shrinkage of your dividend income could be abated if you switched to a bond fund that offers a higher yield.Such a move could turn out to be the right thing to do. Before you make it, however, you need to bear in mind the risks involved.Bond funds expose you primarily to two major risks: credit risk, the probability that issuers of bonds owned by the funds won't be able to pay interest or repay principal; and market risk, the probability that bond prices will fall when interest rates rise.
BUSINESS
By Eric Jacobson and Eric Jacobson,MORNINGSTAR.COM | July 7, 2002
All in all, things have been looking pretty good in the muni market this year. That might seem a bit counterintuitive given the concerns faced by New York in the wake of last September's terror attacks. Add to that the hangover from California's power crisis, which promises to add a glut of supply to that state's muni market later this year. But while the latter has put some modest pressure on California bonds, New York issues have been fairly strong. Meanwhile, the municipal market has surged past the taxable universe.
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