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By New York Times News Service | July 8, 1994
Fidelity Management and Research Co., the huge mutual fund company that has played a pivotal role in R. H. Macy & Co.'s bankruptcy-law case, has added another powerful weapon to its arsenal -- about $80 million of the retailer's bonds.By purchasing the bonds, Fidelity has begun to acquire the tools it needs to begin dismantling the biggest obstacle to a merger between Macy and Federated Department Stores: the opposition of the creditors' committee representing Macy's bondholders.The committee has stymied Federated's bid for Macy, backing a proposal that would get Macy out of bankruptcy protection as a stand-alone company.
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NEWS
By Brandi Bottalico, The Baltimore Sun | February 17, 2014
Baltimore police have identified the body found off of Key Highway in the Inner Harbor Saturday as Fidel Malik Williams. Williams, 28, was found at 801 Key Highway, at 8:20 a.m., police said. The body was recovered from the water near Federal Hill Park and the American Visionary Art Museum . The Edmondson Heights resident was last seen leaving a friend's house on Dec. 27 on Glenmore Avenue in northeast Baltimore. It was believed that he was heading toward the Maryland Transit Administration bus stop at Harford Road and Glenmore Avenue, according to Baltimore County police.
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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | February 8, 1995
First Fidelity Bancorp. continued its drive into the Maryland market yesterday, announcing that it agreed to take over 24 branches of Household Bank FSB, increasing its share of deposits in the state by more than 50 percent.The move came as part of a concerted effort by the Illinois-based parent of Household to pull its savings bank business out of markets where it has a minor share.First Fidelity, based in New Jersey, said it would pay $76.1 million for the Household branches and the right to take over $1.1 billion in customer deposits.
NEWS
November 7, 2013
Iowa has a lower cost of living than Maryland and a more business-friendly environment, says a senior vice president of Fidelity ( "Fidelity & Guaranty Life Insurance Co. moving headquarters to Iowa," Nov. 4). But will that mean anything to Gov. Martin O'Malley, House Speaker Michael E. Busch or Senate President Thomas V. Mike Miller, Maryland's champions of higher taxes at any cost? It hasn't in the past so there's no reason to believe that it will now. Let Fidelity eat cake is the mantra of Maryland.
BUSINESS
By New York Times News Service | June 22, 1994
Fidelity Investments, the nation's largest mutual fund company, deliberately provided incorrect information on the value of its funds last week, causing newspapers to report that most Fidelity funds did substantially better than they actually did.A Fidelity spokeswoman, Constance Hubbell, said yesterday that the fund management company had not been able to calculate the value of 166 funds on Friday because of a computer problem.Rather than simply admit the problem, she said, Fidelity chose to report to the National Association of Securities Dealers (NASD)
BUSINESS
By NEW YORK TIMES NEWS SERVICE | December 24, 1995
Stock-market watchers have fretted all year about what would happen if Fidelity Investments started selling some of its large holdings in technology stocks. Investors should have worried as much about the consequences of Fidelity keeping them.Eight of the 10 Fidelity equity funds with the largest percentage of their assets in technology stocks lost ground in the fourth quarter, through Dec. 21, giving back as much as a third of the gains racked up in the year's first nine months.The year-to-date gain of the Fidelity Emerging Growth fund, for example, which at the end of September had 60 percent of its $1.3 billion portfolio in high-tech companies, has fallen to 35 percent from 47 percent in less than three months.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,First Fidelity BancorpSun Staff Writer | September 9, 1995
Executives of First Fidelity Bancorp. stand to make up to $55 million on stock options if stockholders approve the Newark, N.J., bank's agreement to be acquired by First Union Corp., according to a proxy statement mailed to First Fidelity holders this week.The money comes from $31.5 million in deferred compensation that 15 top executives have accrued since 1990, which can be paid only if the executives buy First Fidelity stock with the money, and an estimated $23.7 million the executives will make if they buy all the shares they are eligible to buy at below-market prices and sell them to First Union at the share swap terms the companies announced June 19.The options are in addition to First Fidelity shares that bank executives already own.The $55 million works out to about 1 percent of the price First Union will pay for First Fidelity, in a deal that will create a bank with about $125 billion in loans and other assets.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | June 30, 1992
With 190 different funds and assets totaling $170 billion, Boston-based Fidelity Investments is the General Motors of the mutual fund industry. The main difference is that, in recent years, Fidelity has handled its money and planning a whole lot better than GM has.Amazing expansion and endless new fund introductions are both good and bad. They're good because they breed success, bad because they sometimes make the overall structure overwhelming to average...
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | March 22, 1994
First Fidelity Bancorp. was in a position yesterday to buy Baltimore Bancorp because of managerial skill, falling interest rates -- and a big dollop of luck.The New Jersey-based regional banking titan had only a fraction of the real estate lending problems of peer banks such as MNC Financial Inc., parent of Maryland National Bank, and Edison, N.J.-based Midlantic Corp., in large part because of disasters that hit in 1988.The bank lost about $150 million on loans to a developer who renovated old factories and warehouses into apartments (including the Sail Cloth Factory in Baltimore)
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | March 15, 1995
First Fidelity Bancorp. said it cut the 1994 pay of its chief executive by 34 percent, as the new parent company of the old Bank of Baltimore decided its top managers should share the pain of a corporate downsizing that is expected to claim 1,000 jobs, including 500 in Maryland.First Fidelity Chairman Anthony P. Terracciano earned $750,000 in salary, the same annual rate he was paid at the end of 1993. But the 56-year-old banker did not get any money under the company's long-term incentive program, which paid him $572,771 in 1993.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | November 4, 2013
Fidelity & Guaranty Life Insurance Co., a presence in Baltimore since its founding 54 years ago, will move its headquarters to Des Moines, Iowa — another disappointing loss of corporate clout for the city. The life insurance and annuity company, which employs about 150 at its Fleet Street offices in Harbor East, said it will maintain a presence in Baltimore, but its future growth will occur in Iowa. "We certainly like Baltimore and have a big operation here," said Paul Tyler, a Fidelity senior vice president.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 25, 2013
Lisa Scott of Sparrows Point has seen young relatives graduate from college and struggle to keep up with $100,000 in education debt. "Their current jobs do not allow them to pay that debt" said Scott, area marketing director for Chick-fil-A in Maryland. "The stress on them is horrific and so much, when it should be the most exciting time of their life, coming out of college and ready to take a bite out of the world. " Scott, 48, doesn't want the same to happen to her 7-year-old daughter Lilly.
BUSINESS
Eileen Ambrose | May 20, 2013
Fidelity Investments reports that 70 percent of the Class of 2013 leaves college with on average $35,200 in debt. That's all kinds of debt, from student loans and money owed to Mom and Dad to credit card balances. And half of 2013 graduates say they are surprised how much debt they have accumulated, despite so much publicity on the subject, the Boston-based financial company said in its study released last week. The study found that 39 percent of grads - a jump of 14 percentage points over two years ago - said they might have made different decisions had they realized they would have a debt hangover.
NEWS
By Candy Thomson, The Baltimore Sun | May 19, 2013
Benjamin Lipsitz, whose commitment to the spirit and letter of the law led him to defend a would-be assassin, a Nazi sympathizer and a craven murderer during a career that spanned more than a half-century, died May 10. He was 94. "He was so fundamentally devoted to justice. He was Atticus Finch all over again," said retired Baltimore County Circuit Judge John Fader II. "To me, he was what lawyering and what representation are all about. " Lipsitz was chosen to defend Arthur Bremer, accused of shooting Democratic presidential candidate George Wallace and three others, including a Secret Service agent, at a Laurel shopping center in 1972.
NEWS
By Joe Burris, The Baltimore Sun | November 3, 2011
Taymeko Matthews' eyes lit up when she saw the collection of music instruments on the Georgetown East Elementary School stage. Someone placed a violin in the fourth-grader's hands, and it was as if holiday season had descended earlier than usual. "It was like a brand-new toy that I really wanted," said Taymeko, a member of the Georgetown East band and orchestra, which on Wednesday received a surprise donation of 32 instruments, cases and accessories — valued at more than $25,000 — from the area's new local branch of the financial services firm Fidelity Investments.
BUSINESS
By Eileen Ambrose | June 29, 2011
Couples aren’t on the same page when it comes to retirement. That’s the finding by Fidelity Investments after surveying about 650 couples. One third of couples don’t agree or don’t know when they plan to retire, Fidelity says. Nearly two-thirds don’t agree on the age to retire.  And about half are at odds on whether they will work in retirement. And when it comes to handling retirement finances,  only 17 percent of couples had complete confidence in a mate’s ability to do the job. Would be interested in your comments on the Fidelity survey.
BUSINESS
By NEW YORK TIMES | October 22, 1995
Jeffrey N. Vinik's passion for technology stocks is well known. Fidelity Investments' Magellan Fund, which he manages, so dominates these shares that warning flags have been raised about market disruptions if this gorilla of a fund has a change of heart.But Mr. Vinik also has a big, though less-publicized, appetite for securities firms, so maybe the red flags should go up here, too.Over the last year, Magellan and several other Fidelity funds have been among the biggest buyers of brokerage stocks, according to Michael Flanagan of the Lipper Analytical Services Corp.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,Sun Staff Writer | March 11, 1995
First Fidelity Bancorp, on the heels of a decision to eliminate roughly half the work force of the Bank of Baltimore, is considering vacating the downtown headquarters of the recently acquired bank.But the New Jersey-based bank holding company's potential move from the 25-story office tower at 120 W. Baltimore St. -- until recently known as the Bank of Baltimore Building -- is contingent on finding a tenant to replace the bank, officials said.Earlier this week, First Fidelity sent out proposal requests to six area commercial real estate brokerage firms, the first step in its efforts to sublease the three top floors of the office tower.
BUSINESS
By Eileen Ambrose | May 11, 2011
So maybe we are becoming a nation of savers? Fidelity Investments, a major provider of 401(k) plans for employers, says the average balance reached $74,900 at the end of March, a record high since December 1998 when the company started tracking this information. Fidelity says the average balance is up nearly 12 percent from a year earlier, but a 58 percent jump since 2009. Of course, the stock market recovery surely has a lot to do with that. March 2009 was a low in the market after the disastrous Fall of 2008 when stocks seemed to be on a downward spiraling rollercoaster with no brakes.
BUSINESS
By Andrew Leckey and Andrew Leckey,TRIBUNE MEDIA SERVICES | April 20, 2008
Worried about the economy? Perhaps your family should tighten its belt a bit. Stop using so much soap, for example. Don't clean the kitchen floor quite so frequently. Reduce your dog's food intake by one-fourth. All that probably won't happen. That's why investors during worrisome times often turn to the stocks of companies that produce household necessities. As A.G. Lafley, chief executive of Procter & Gamble Co., said of the recent slowing economy: "People are not reducing tooth-brushing incidence.
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