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NEWS
January 29, 2002
Today's highlights 10 a.m. Senate meets, Senate chamber. 10 a.m. House of Delegates meets, House chamber. 1:45 p.m. Senate Finance Committee, briefing on the financial condition of Maryland hospitals; 3 East, Miller Senate Office Building.
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By Michael Hill and Michael Hill,SUN STAFF | June 27, 2004
IT IS an image that became archetypal a half-century ago. One flag going up, another coming down. A representative of a superpower shaking hands with the new leader of a fledgling nation. Lofty oratory full of high hopes heard from all quarters. The scene comes from the end of the colonial era, when imperial possessions took on their independence. Something like that scene will take place in Iraq on Wednesday as its new sovereign government takes office with the good wishes - and heavy oversight - of the United States.
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NEWS
January 30, 1996
A story in Saturday's Business section misstated the relationship between publicly held Atlantic Beverage Co. Inc. and Flying Fruit Fantasy USA Inc., which is a privately held corporation. Atlantic Beverage Co. is only licensed to distribute one line of Flying Fruit Fantasy's products. The article also misstated the financial condition of Flying Fruit Fantasy, which continues to have locations throughout the mid-Atlantic region.The Sun regrets the errors.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | April 6, 2004
Maryland denied one of the nation's largest credit-counseling agencies permission yesterday to serve Maryland customers, the first time the state has rejected a nonprofit agency's application for a license under a new consumer protection law. AmeriDebt of Montgomery County, which is helping to manage the finances of 5,000 to 6,000 Maryland debtors and more than 72,000 clients across the nation, has faced withering criticism in recent months for its...
BUSINESS
September 8, 1991
A number of the thrifts that had low first-quarter ratings, according to IDC, have recorded significant events since the data in the chart was collected. Such events could improve future ratings, the thrifts said last week.These include:* Equitable FSB. The thrift sold three branches during the second quarter, reducing its assets by about $20 million.* Fairview FS&LA. This mutual company is converting to a stock company and signed a letter of intent a month ago to sell 100 percent of the company to an undisclosed investor.
BUSINESS
By Peter H. Frank | November 1, 1990
MNC Financial Inc. and its former chairman have been slapped with another lawsuit alleging they misled investors by failing to accurately depict the company's mounting financial problems.The suit was the third filed this year against MNC, the largest banking company in Maryland and the owner of Maryland National Bank and American Security Bank in Washington.It was filed on behalf of shareholders who purchased stock from July 24 to Oct. 25, the day the company announced it had lost $173 million during the third quarter.
NEWS
By Ann LoLordo and Ann LoLordo,Staff Writer Staff Writer Patricia Meisol contributed to this article | October 9, 1992
Acknowledging that the public's confidence in Blue Cross and Blue Shield of Maryland has been shaken, the insurer's board of directors removed Carl J. Sardegna last night as its chairman and replaced him with retired businessman Frank A. Gunther.Mr. Sardegna, who has served as the board's chairman since 1987, will remain president and chief executive officer of the company and a member of the board, a statement from the company said last night.The 18-member board also created a special committee to review the Blues' operations and policies to ensure that Maryland's largest health insurer was carrying out its responsibility to the public.
BUSINESS
By Herb Greenberg and Herb Greenberg,Chronicle Features 1991 | January 11, 1991
The future of McDonnell Douglas, the giant St. Louis-based defense contractor, appears to be growing bleaker every day, and stockholders are bailing. The question now appears to be not whether the stock can go much lower, but how much lower will it go?This week alone it has already skidded more than 30 percent in the wake of news that the Pentagon has canceled its A-12 stealth attack-plane contract and is seeking $1.9 billion from McDonnell Douglas and its joint contractor, General Dynamics, for alleged over-billing.
BUSINESS
By Suzanne Wooton and Suzanne Wooton,Staff Writer | May 6, 1993
Despite significant cutbacks at Baltimore-Washington International Airport by USAir, the carrier's president, Seth E. Schofield, underscored yesterday the airline's commitment there and vowed to compete vigorously against any new carriers.In a speech here yesterday morning, Mr. Schofield cautioned, however, that USAir's financial condition -- dominated by the loss of $1 billion over the past four years -- would continue to dictate decisions at BWI and elsewhere."It is not a blind proposition but a business proposition that determines the frequency of service and the type of aircraft," he told about 250 people at a downtown breakfast sponsored by the Baltimore Area Convention and Visitors Association.
NEWS
By Frank P. L. Somerville and Frank P. L. Somerville,Staff Writer | May 8, 1993
Concerns over the financial health of the Episcopal Diocese of Maryland overtook theological issues at its convention yesterday as U.S. Presiding Bishop Edmond L. Browning asked parishes to give weight to "stewardship, partnership and accountability."The national head of the Episcopal Church, visiting from New York, is functioning as chaplain to the convention at Marriott's Hunt Valley Inn in Baltimore County. His comments followed some bad financial news for the clergy and lay delegates.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | September 18, 2003
HOUSTON - Merrill Lynch & Co. Inc., in an agreement with prosecutors that let it avoid criminal charges over its role in the Enron debacle, promised yesterday not to engage in business deals - even legal ones - that help companies mislead investors about their financial condition. The Wall Street firm also agreed to allow the government to monitor portions of its business for the next 18 months. The settlement involved deals late in 1999 that let Enron increase its reported profits when its business was falling short of Wall Street's expectations.
NEWS
January 29, 2002
Today's highlights 10 a.m. Senate meets, Senate chamber. 10 a.m. House of Delegates meets, House chamber. 1:45 p.m. Senate Finance Committee, briefing on the financial condition of Maryland hospitals; 3 East, Miller Senate Office Building.
NEWS
January 30, 1996
A story in Saturday's Business section misstated the relationship between publicly held Atlantic Beverage Co. Inc. and Flying Fruit Fantasy USA Inc., which is a privately held corporation. Atlantic Beverage Co. is only licensed to distribute one line of Flying Fruit Fantasy's products. The article also misstated the financial condition of Flying Fruit Fantasy, which continues to have locations throughout the mid-Atlantic region.The Sun regrets the errors.
NEWS
By Frank P. L. Somerville and Frank P. L. Somerville,Staff Writer | May 8, 1993
Concerns over the financial health of the Episcopal Diocese of Maryland overtook theological issues at its convention yesterday as U.S. Presiding Bishop Edmond L. Browning asked parishes to give weight to "stewardship, partnership and accountability."The national head of the Episcopal Church, visiting from New York, is functioning as chaplain to the convention at Marriott's Hunt Valley Inn in Baltimore County. His comments followed some bad financial news for the clergy and lay delegates.
BUSINESS
By Suzanne Wooton and Suzanne Wooton,Staff Writer | May 6, 1993
Despite significant cutbacks at Baltimore-Washington International Airport by USAir, the carrier's president, Seth E. Schofield, underscored yesterday the airline's commitment there and vowed to compete vigorously against any new carriers.In a speech here yesterday morning, Mr. Schofield cautioned, however, that USAir's financial condition -- dominated by the loss of $1 billion over the past four years -- would continue to dictate decisions at BWI and elsewhere."It is not a blind proposition but a business proposition that determines the frequency of service and the type of aircraft," he told about 250 people at a downtown breakfast sponsored by the Baltimore Area Convention and Visitors Association.
NEWS
By David Conn and David Conn,Staff Writer | February 19, 1993
Maryland's largest bank received the news yesterday that it has been expecting for more than half a year as NationsBank Corp. of Charlotte, N.C., announced it would exercise its option to buy MNC Financial Inc.The acquisition, expected to be finished by September, means the end of independence for Baltimore's oldest and largest banking company. MNC, which owns Maryland National Bank and American Security Bank, was among the state's most powerful business and philanthropic institutions in its mid-1980s prime.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | September 18, 2003
HOUSTON - Merrill Lynch & Co. Inc., in an agreement with prosecutors that let it avoid criminal charges over its role in the Enron debacle, promised yesterday not to engage in business deals - even legal ones - that help companies mislead investors about their financial condition. The Wall Street firm also agreed to allow the government to monitor portions of its business for the next 18 months. The settlement involved deals late in 1999 that let Enron increase its reported profits when its business was falling short of Wall Street's expectations.
NEWS
By David Conn and David Conn,Staff Writer | February 19, 1993
Maryland's largest bank received the news yesterday that it has been expecting for more than half a year as NationsBank Corp. of Charlotte, N.C., announced it would exercise its option to buy MNC Financial Inc.The acquisition, expected to be finished by September, means the end of independence for Baltimore's oldest and largest banking company. MNC, which owns Maryland National Bank and American Security Bank, was among the state's most powerful business and philanthropic institutions in its mid-1980s prime.
NEWS
By Ann LoLordo and Ann LoLordo,Staff Writer Staff Writer Patricia Meisol contributed to this article | October 9, 1992
Acknowledging that the public's confidence in Blue Cross and Blue Shield of Maryland has been shaken, the insurer's board of directors removed Carl J. Sardegna last night as its chairman and replaced him with retired businessman Frank A. Gunther.Mr. Sardegna, who has served as the board's chairman since 1987, will remain president and chief executive officer of the company and a member of the board, a statement from the company said last night.The 18-member board also created a special committee to review the Blues' operations and policies to ensure that Maryland's largest health insurer was carrying out its responsibility to the public.
NEWS
By PETER H. FRANK and PETER H. FRANK,Peter Frank, an assistant business editor of The Baltimore Sun, covered insurance issues for four years | August 9, 1992
Twenty minutes.In just 20 minutes -- less than the length of a long coffee break -- legislators in Annapolis had heard enough from the state's top insurance regulator regarding his disturbing concerns about the state's top health insurer.Blue Cross and Blue Shield of Maryland executives spent four and a half hours explaining the company's position. John A. Donaho, Maryland's Insurance Commissioner, then spent less than 20 minutes, including the time it took to answer questions.The gathering, held before the House Economic Matters Committee, had been billed by Del. Casper R. Taylor Jr., who chairs the committee, as an opportunity to separate "fact from fiction" in the aftermath of Mr. Donaho's surprising testimony earlier in the month before a U.S. Senate subcommittee.
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