BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 22, 2013
The top executives of T. Rowe Price Group Inc. saw their compensation rise last year, the Baltimore-based investment firm reported. CEO James A.C. Kennedy earned $8.4 million in total compensation last year, a 7 percent increase over 2011 and Brian C. Rogers, Price's chairman and chief investment officer, earned $8.3 million in total compensation, an 8 percent increase from 2011, the company reported in a recent filing with the U.S. Securities and...
BUSINESS
By Steve Kilar, The Baltimore Sun | January 23, 2013
A division of the World Bank Group announced Wednesday that it has invested $150 million in Laureate Education Inc., giving the international development organization a small stake in the Baltimore-based global higher education company. "It's an incredibly strong endorsement for the company," said Douglas L. Becker, Laureate's chairman and CEO, of the investment by the International Finance Corp. and its affiliate, the IFC African, Latin American and Caribbean Fund. With annual revenue of about $4 billion, Laureate does not need the money but is eager to have the backing of an investor led by members of international governments, he said.
BUSINESS
By Steve Kilar, The Baltimore Sun | January 2, 2013
Calvert School, the private, pre-kindergarten through eighth grade day school in North Baltimore, announced Wednesday that it has sold its more than 100-year-old distance learning business to a private equity firm. The terms of the sale of Calvert Education Services to an investment group led by the Baltimore-based Camden Partners Holdings LLC were not disclosed. "It has a wonderful reputation as a real leader in both home schooling and online education," said David Warnock, Camden Partners' chairman.
NEWS
December 19, 2012
Paging Mr. Fezziwig. One might get the notion that Charles Dickens' good-hearted fictional employer was back in business after the announcement this week by a private equity firm, Cerberus Capital Management, that it intends to sell Freedom Group Inc., the company that manufactured the Bushmaster rifle used in the Sandy Hook Elementary School massacre. Was this a sudden case of moral conviction? Meanwhile, Dick's Sporting Goods has suspended sales of semiautomatic rifles at its stores.
EXPLORE
October 9, 2012
The purpose of this letter is to express my strong objection to Baltimore County Executive Kevin Kamenetz's proposal to float a $250 million Pension Obligation Bond (POB). Words make it difficult to accurately express my opposition. I believe that it is a fiscally irresponsible and risky proposal to fix a problem. In my opinion, it represents an extreme amount of risk for the taxpayers of Baltimore County. You cannot borrow your way out of debt! Supporters of this financial gimmick generally hype the proposed benefits and rarely take into consideration the risk/reward consequences.
BUSINESS
By Steve Kilar and The Baltimore Sun | September 17, 2012
Three years after the official end of the longest recession since World War II, nearly one in five mortgaged homes in the Baltimore metro area was still underwater, according to r eal estate data firm CoreLogic. In the second quarter of this year, 18.3 percent of Baltimore-area residences with a mortgage - 116,301 properties - were worth less than what their owners owed, the firm announced this month. Still, that's an improvement. In the first quarter of 2012, 19.7 percent of homes in and around Baltimore were upside-down, the number-crunching company said.