Distribution

Baltimore County and the Community Assistance Network will be distributing federal surplus foods today through June 26. Butter, flour, peanut butter, canned pork, raisins and canned tomatoes will be among the foodstuffs distributed.Distribution sites will open at 8:30 a.m. Closing time will be determined on the day of distribution. The Parkton American Legion Post will be open from 10 a.m. to 1 p.m.Recipients must be county residents and must receive their food at the site that services their postal ZIP code.

DETROIT -- General Motors Corp., the world's largest automaker, completed its separation from No. 1 auto-parts maker Delphi Automotive Systems Corp. yesterday with the distribution of $9.3 billion in Delphi shares.GM, which handed its investors an 80.1 percent stake in Delphi and gave another 2.2 percent to a pension trust, now owns no Delphi shares. GM rose 50 cents to $69 on the New York Stock Exchange after being adjusted for the distribution, which was valued at $14.33 per GM share. Delphi slipped 87.5 cents to $19.625.

Municipal Mortgage & Equity LLC, a bond management and real estate investment company, reported yesterday that operating net income rose 45 percent in 2001. Known as MuniMae, the company had net operating income of $42.1 million, or $1.97 per share, in the year ended Dec. 31, compared with $29.1 million, or $1.67 per share, reported for the previous year. Tax-free income The Baltimore-based company, whose shares trade on the New York Stock Exchange, finances the building of apartments, senior housing and other kinds of rental developments and provides investors with income that's largely tax-free.

Municipal Mortgage & Equity LLC, the Baltimore bond-management and real estate investment company known as MuniMae, said yesterday that its cash available for distribution for last year increased 21 percent over 1999. The cash available for distribution (CAD), the primary measure of the company's distribution-paying ability, was $43.5 million, or $1.86 per share, in the year that ended Dec. 31, compared with $35.8 million, or $1.75 a share, in 1999. The results were in line with analysts' expectations.

Hundreds of Maryland residents gather each month to buy food at half-rice, do community service and meet different kinds of people.They belong to a group consuming food for stomach and soul: SHARE-Baltimore (Self Help and Resource Exchange). Last Thanksgiving, it assembled and distributed 14,000 packages of nutritious food. This year it hopes to do 27,380 packages.If this sounds like a program for the needy, it isn't. "This is not mainly for the poor," said Peggy Cronyn, SHARE's director.

Representatives of Carroll's volunteer fire companies voted Tuesday night to give Westminster, the county's largest and busiest station, the biggest cut of a $1.9 million allocation for ambulance services. Effective with the next distribution of quarterly checks in October, Westminster Fire Engine and Hose Company No. 1, which was shut out in an earlier proposal, will receive $250,000 to hire more ambulance personnel. Fire officials hope the influx of money will allow more 911 responders to be on call through the middle of the night.

Michael Davis has been named Chief Executive Officer of G. Cefalu Bro. and Capital Seaboard, in Jessup, and will begin to oversee the operations of both companies. Davis brings more than 20 years of experience in high growth foodservice and distribution. He previously served as CEO of Cal Atlantic; Senior Vice President and Partner of Coastal Sunbelt Produce; was a member of the Maryland Restaurant Association Board of Directors; and was the Vice President of Capital Seaboard.

Q: I sold short 300 shares of General Motors last September. I have not yet closed out the position by buying back the shares. This was the first time I ever sold stock short and do not know how to report it on my income tax.A: Anyone who sold stock short last year will receive Form 1099-B from the brokerage firm that handled the transaction. Form 1099-B will indicate that you sold 300 shares of GM so you must report it on IRS Schedule D when you file your taxes. However, since you have not yet completed the other side of the transaction in that you have not bought back 300 shares, you need to file an accompanying explanation of the incomplete short sale.

Black & Decker Corp. has announced it will cut back operations at its Hampstead distribution center starting in 1995.The reduction will coincide with the opening of a new distribution plant in South Carolina.A spokeswoman for Black & Decker said the Hampstead distribution center, which has slightly more than 100 employees, will remain in full operation through 1994.The entire Hampstead plant employs between 700 and 800 people now, most of them in production, and they were notified of the cutback Thursday evening.

Harford sheriff's deputies arrested 11 people in drug raids at four Edgewood apartments Thursday night.Carrying four search-and-seizure warrants, 14 indictments and warrants for two juveniles, deputies concluded a five-month investigation of a crack cocaine distribution ring in the Edgewater Village area.They reported seizing 23 grams of crack cocaine and a .25-caliber semi-automatic handgun in addition to arresting 10 men, a woman and a 17-year-old boy.Indictments have been issued for seven other men and warrants have been issued for two other juveniles, all related to the distribution of crack cocaine, authorities reported.