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NEWS
July 6, 2001
THERE IS little to celebrate around Old Town Mall. The pedestrian shopping street just six blocks northeast of City Hall won revitalization awards in the 1970s, but is again in dire straits. Street lights are vandalized; retail vacancies abound. Among the best performers is a store that sells liquor as its main product and handles bail bonds as a sideline. Business failures around Old Town Mall are particularly alarming. A Gay Street auto-parts store closed two months ago; a longtime paint store and a lounge are among recent casualties on Hillen Street.
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BUSINESS
Lorraine Mirabella | August 4, 2014
A Family Dollar store is slated to open this fall as an anchor tenant in Cold Spring Shopping Center in Baltimore, the chain announced. Family Dollar Stores Inc. signed a lease for nearly 9,000 square feet in the center at Cold Spring Lane and Loch Raven Boulevard, owned by Schwaber Holdings. The Matthews, N.C.-based chain is being acquired by Dollar Tree Inc. in an $8.5 billion merger announced last week that would create North America's biggest dollar store chain. Family Dollar sells mostly lower-margin consumables such as food and household products priced between $1 to $5 and targets urban shoppers in lower-income neighborhoods.
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BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | March 26, 1999
Bethesda-based Savant Corp. said yesterday that it has struck a potentially lucrative partnership deal with Sybase Inc., one of the largest U.S. makers of software for business applications.Under the deal, Sybase gets exclusive rights to privately held Savant's pioneering computer program that can alert information technology managers to database problems and diagnose them.Sybase gets the right to sell the program, named Q Diagnostic Center, to its existing customers without paying Savant a royalty.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | February 23, 2013
Percy Nicholson, a retired co-owner of two West Baltimore cleaning establishments where he cared for the clothing of African-American performers who played the fabled Royal Theatre, died Monday of heart failure at Manor Care Falls Road. The Ashburton resident was 92. The son of a truck driver and a housekeeper, Mr. Nicholson was born in Baltimore and raised on West Lanvale Street. He was a 1939 graduate of George Washington Carver Vocational High School. In 1946, he went to work at Bethlehem Steel Corp.'s Sparrows Point plant, where he worked in the open-hearth furnace until retiring in 1983.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | February 26, 2003
Gene Logic Inc., a marketer of genetic information used by drug researchers, said yesterday that it has agreed to acquire TherImmune Research Corp. for $52 million in cash and stock. The Gaithersburg-based company said the acquisition will broaden its customer base that now consists primarily of large pharmaceutical companies. Privately held TherImmune, also of Gaithersburg, handles drug discovery experiments, animal studies and early-stage clinical trials under contracts with small and medium-size biotechnology companies.
NEWS
By TaNoah Morgan and TaNoah Morgan,SUN STAFF | December 23, 2002
At Digi-Data, repetition is a good thing. The company, whose founder died six years ago, is finding a new niche for itself in technology focusing on large-capacity digital storage equipment called Redundant Array of Independent Disks, or RAID systems. After four years of developing a larger and faster RAID system -- one that its executives hope will help the company expand and find its share of the $20 billion global digital storage market -- Digi-Data is ready to ship its systems to partners for testing.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | May 29, 2002
In a partnership that will more than quadruple its customer base, Annapolis-based iJET Travel Intelligence said yesterday that it is combining services with global risk consulting company Kroll Inc. As part of the deal, Kroll will move its intelligence division, now housed in Vienna, Va., to iJET's Maryland offices, and the two companies will merge their lists of clients. The companies are deciding how many of the dozen Kroll employees will make the move, officials said. iJET will provide round-the-clock health, political, safety and other advisories to overseas travelers.
BUSINESS
By Peter H. Frank | March 15, 1991
MBNA Corp., the former credit-card subsidiary of MNC Financial Inc., received some welcome news yesterday as Standard & Poor's Corp. upgraded its rating on the certificates of deposit issued by MBNA's major banking unit.S&P, citing a healthy customer base and strong earnings at MBNA America Bank N.A., raised the bank's rating to triple-B-plus from double-B on CDs of more than a year's duration. CDs of a year or less were upgraded to A-2 from single-B.MBNA had been on S&P's CreditWatch with positive implications since Feb. 11, just weeks after the company was spun off in a public stock offering.
BUSINESS
By Andrea K. Walker | andrea.walker@baltsun.com | April 12, 2010
Men's clothier Jos. A. Bank said Monday morning that it is entering the factory outlet business, opening five stores by the end of this fiscal year. If the five stores perform well, the company will open more in the future. There is the potential to open 50 to 75 factory stores in the U.S., R. Neal Black, president and CEO of Jos. A. Bank said in a statement. The company now has seven clearance outlet stores where it sells overstock from its full-priced stores. The company has developed new merchandise to sell in the newest stores.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | February 23, 1999
Ciena Corp. of Linthicum said yesterday that it has won a contract to supply its telecommunications equipment to a Japanese Internet company, Crosswave Communications Inc.The deal marks the latest step in Ciena's effort to broaden and internationalize its customer base. The company had been reliant on two U.S. telephone companies -- Sprint Corp. and WorldCom Inc., now MCI WorldCom -- for nearly all of its business, and that narrow focus helped send Ciena into a financial dive last year.In its bid to rebound, Ciena has landed contracts with other communications companies, including several deals with Japanese and European carriers.
BUSINESS
By Andrea K. Walker | andrea.walker@baltsun.com | April 12, 2010
Men's clothier Jos. A. Bank said Monday morning that it is entering the factory outlet business, opening five stores by the end of this fiscal year. If the five stores perform well, the company will open more in the future. There is the potential to open 50 to 75 factory stores in the U.S., R. Neal Black, president and CEO of Jos. A. Bank said in a statement. The company now has seven clearance outlet stores where it sells overstock from its full-priced stores. The company has developed new merchandise to sell in the newest stores.
BUSINESS
By STACEY HIRSH and STACEY HIRSH,SUN REPORTER | March 2, 2006
As consumers reap the benefits of growing services like on-demand television and free telephone calls over the Internet, one local company may be a less obvious profiteer: Ciena Corp. The Linthicum-based telecommunications equipment company rode the technology wave in the 1990s, dazzling Wall Street with an initial public offering in February 1997 that gave Ciena the highest first-day value at that time for a venture-backed startup. But when the tech bubble burst in 2000, it wasn't long before Ciena, too, started to feel pain.
BUSINESS
By JAY HANCOCK | April 25, 2004
BALTIMORE is raising taxes, seeking the kind of revenue shot dreamt of by sales outfits everywhere. But what makes Mayor Martin O'Malley believe he'll score with price increases when U.S. Cellular, General Motors, Gateway and numerous other merchants have come to grief? Baltimore at its economic core is a vendor of municipal services, subject to the same laws of competition, supply and demand as any company. At a time when consumers respond to price increases like an Atkins dieter being offered a Twinkie, the risks from O'Malley's gambit aren't simply political.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | February 26, 2003
Gene Logic Inc., a marketer of genetic information used by drug researchers, said yesterday that it has agreed to acquire TherImmune Research Corp. for $52 million in cash and stock. The Gaithersburg-based company said the acquisition will broaden its customer base that now consists primarily of large pharmaceutical companies. Privately held TherImmune, also of Gaithersburg, handles drug discovery experiments, animal studies and early-stage clinical trials under contracts with small and medium-size biotechnology companies.
NEWS
By TaNoah Morgan and TaNoah Morgan,SUN STAFF | December 23, 2002
At Digi-Data, repetition is a good thing. The company, whose founder died six years ago, is finding a new niche for itself in technology focusing on large-capacity digital storage equipment called Redundant Array of Independent Disks, or RAID systems. After four years of developing a larger and faster RAID system -- one that its executives hope will help the company expand and find its share of the $20 billion global digital storage market -- Digi-Data is ready to ship its systems to partners for testing.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | November 29, 2002
Provident Bankshares Corp. intends to finish the year in a growth spurt - adding six bank branches to its network between now and the end of December in a push that highlights its strategy of operating inside grocery stores or other types of retail locations. The six new Provident branches - along with one in Rosedale that opened Saturday - will bring the bank's total locations to 109. The growth wave will spill over into 2003, with Provident planning to add 12 to 15 branches next year, bank officials said.
BUSINESS
Lorraine Mirabella | August 4, 2014
A Family Dollar store is slated to open this fall as an anchor tenant in Cold Spring Shopping Center in Baltimore, the chain announced. Family Dollar Stores Inc. signed a lease for nearly 9,000 square feet in the center at Cold Spring Lane and Loch Raven Boulevard, owned by Schwaber Holdings. The Matthews, N.C.-based chain is being acquired by Dollar Tree Inc. in an $8.5 billion merger announced last week that would create North America's biggest dollar store chain. Family Dollar sells mostly lower-margin consumables such as food and household products priced between $1 to $5 and targets urban shoppers in lower-income neighborhoods.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | July 8, 1999
To the delight of a once-hostile Wall Street, Ciena Corp. announced another new contract yesterday, a three-year equipment deal with Alltel Corp., a telephone and Internet company in Little Rock, Ark. The news sent Ciena shares up $2.50, closing at $33.25.The Linthicum maker of telecommunications equipment is selling Alltel its signature product, a device that allows fiber-optic networks to carry more communications traffic. Ciena will be Alltel's sole supplier of the devices.Ciena said it has installed about $5 million in equipment along 2,500 miles of Alltel's network.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | May 29, 2002
In a partnership that will more than quadruple its customer base, Annapolis-based iJET Travel Intelligence said yesterday that it is combining services with global risk consulting company Kroll Inc. As part of the deal, Kroll will move its intelligence division, now housed in Vienna, Va., to iJET's Maryland offices, and the two companies will merge their lists of clients. The companies are deciding how many of the dozen Kroll employees will make the move, officials said. iJET will provide round-the-clock health, political, safety and other advisories to overseas travelers.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | January 30, 2002
Corvis Corp. announced yesterday that it has signed an agreement to buy Dorsal Networks, a privately held undersea optical network provider, for nearly $90 million in stock. Corvis, which sells mainly land-based telecommunications equipment, offered 40 million shares of common stock for the company, excluding a 3 percent stake Corvis already had in Dorsal. Corvis officials said the move would allow the company to nearly double its market opportunities by moving full force into the $6 billion undersea transport equipment industry.
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