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Economic Growth

BUSINESS
January 26, 2010
Legg Mason Inc.'s Bill Miller said the U.S. economy may grow as much as 10 percent this year, almost four times faster than companies and economists forecast, driven by a surge in corporate profits. With profits forecast to grow between 25 percent and 35 percent this year, economic growth should reach at least 7 percent, Miller said in his quarterly letter to investors Monday. That compares with a consensus forecast of 2.7 percent economic growth, he said, citing a Bloomberg survey of 58 firms.
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BUSINESS
December 29, 2009
Free legal consultation available for homeowners Homeowners who are in trouble on their mortgages or worried that they will get behind in the future can get a free legal consultation at a Jan. 10 foreclosure solutions workshop. The event, sponsored by nonprofits and staffed by attorneys, is scheduled from 2 p.m. to 6 p.m. at the Jewish Community Center, 5700 Park Heights Ave. in Baltimore. Homeowners should pre-register by Jan. 6 by calling 410-466-1990, x0. - Jamie Smith Hopkins Constellation charitable foundation gets $36 million Constellation Energy Group announced Monday a $36 million contribution by Electricite de France to the company's foundation.
BUSINESS
December 29, 2009
Constellation Energy Group announced Monday a $36 million contribution by Electricite de France to the company's foundation. The donation fulfills a commitment made within the nuclear joint venture agreement with the French company, which closed in November. In addition, Constellation will increase its charitable giving to one percent or more of its annual operating income, according to the announcement. The Constellation Energy Group Foundation supports programs and makes grants to nonprofit organizations in four focus areas: energy, education, economic growth and the environment.
BUSINESS
By Don Lee and Don Lee,Tribune Newspapers | September 26, 2009
PITTSBURGH - -World leaders pledged Friday to keep economic stimulus efforts going in order to nurture the tentative recovery. They also lent their support to a U.S. plan to restructure global growth by relying less on American consumers and more on domestic spending from export-dominant countries such as China. For the Obama administration, winning an agreement on its proposed Framework for Sustainable and Balanced Growth was a key objective at the Group of 20 summit. But analysts said the plan, while it called for member countries to review one another's economic policies, lacked an enforcement mechanism and would have little force in rectifying global imbalances.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,jamie.smith.hopkins@baltsun.com | September 25, 2009
Economic growth slowed in the Baltimore region last year, but it was not among the nearly one-third of metro areas with contracting economies. That's what the Commerce Department estimates in a report released Thursday about gross domestic product in metro areas, a key measure of economic activity known commonly as GDP. The Baltimore-area economy grew 1.1 percent in 2008, compared with a 1.5 percent increase each of the previous two years. The figures are adjusted to account for the sapping power of inflation.
NEWS
February 27, 2009
President Barack Obama is expecting a breathtaking $1.75 trillion federal budget deficit for the coming fiscal year and making an even more amazing promise - to cut the annual shortfall in half by the end of his first term. Closing that deal will require all of the president's persuasive skills and a large measure of luck. It's a monumental task, and Mr. Obama is hoping for the current deep recession to end and brisk economic growth - twice the rate of the Bush years - to resume next year.
BUSINESS
By McClatchy-Tribune | January 31, 2009
WASHINGTON - As bad as yesterday's grim government report on economic growth was, it points to even worse times ahead. The collapse of exports, industrial production and the inability of companies to sell their products all portend an even deeper contraction as the U.S. and global economies sink further in the weeks and months ahead. The Commerce Department reported that the U.S. economy contracted 3.8 percent in the final three months of last year, the biggest such quarterly shrinkage in almost 27 years.
NEWS
By Troy Stouffer | September 15, 2008
Last week, Maryland Comptroller Peter Franchot released his office's analysis of the Board of Revenue Estimates for fiscal year 2009. The report shows that the estimated revenue for 2009 will be a little more than $430 million short of what was previously announced. Mr. Franchot goes on to say that the Maryland legislature and the governor's office will need to cut spending in order to help offset the estimated shortfall of revenue. The comptroller's analysis offers some interesting points to consider.
BUSINESS
By Kevin G. Hall and Kevin G. Hall,McClatchy-Tribune | May 30, 2008
WASHINGTON - The U.S. economy grew at a faster rate in the first quarter of this year than previously thought, the government reported yesterday, further muddying the question of whether or not the sluggish U.S. economy is in recession. Between January and March, the U.S. economy grew by 0.9 percent, not the 0.6 percent projected a month ago, the Commerce Department said. Normally, such a slight upward revision wouldn't merit much attention. But economists and policymakers are confounded by today's economy, which is being dragged down by a deep housing slump and soaring energy prices.
NEWS
By STEVE CHAPMAN | April 7, 2008
Democracy does not cultivate a taste for deferred gratification: Politicians eyeing the next election want to give people what they want sooner rather than later. And in a time of economic turmoil, the impulse to do something immediately is even stronger. But the haste is misplaced. In the current climate of panic, policymakers need to learn patience - and they need to learn it right now. A couple of alleged crises are getting all the attention at the moment. The first is the risk of a recession.
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