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BUSINESS
March 3, 2010
DOVER, Del. - Magna Entertainment Corp. says it needs additional debtor-in-possession financing as it works to emerge from Chapter 11 bankruptcy. Canada's Magna, the largest horse track owner in the United States, previously reached agreements with a subsidiary of its parent, MI Developments, for $64.4 million in financing. But Magna, which filed a reorganization plan two weeks ago, says it is facing liquidity issues because of an unexpected decline in horse racing revenues and weather-related race cancellations at Santa Anita Park in California.
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NEWS
By Pamela Wood and The Baltimore Sun | October 8, 2014
A Baltimore County candidate for the House of Delegates acknowledged this week he wrote checks from his campaign account, a violation of campaign finance law that resulted in a $2,500 fine. Jay Jalisi, a Democrat running to represent western Baltimore County, wrote 28 checks from his campaign account from February through April, according to the Office of the State Prosecutor. Jalisi said his treasurer had suffered two strokes and had heart surgery in the months leading up to June's primary election.
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NEWS
January 3, 2013
Here's a question for you Maryland taxpayers out there: Would you rather pay a higher tax on many items you purchase each day or on something you may buy perhaps once a week (a commodity that's actually decreased in price nearly 20 percent in recent months, by the way)? Surely, most people would choose the latter. But there's another way to look at it: Would you rather see the Maryland sales tax rise after enduring a similar increase a mere five years ago, or see the gas tax rise after a 20-year freeze?
NEWS
September 27, 2014
Reporter Jonathan Pitts ' article "New heights for High Holidays" (Sept. 24), lacked something quite basic, which is that synagogues require funding to operate. We can't all have the luxury of a large endowment, as in the case of Chabad, to operate year after year relying on small donations that come in from unaffiliated, Reform, Conservative and Orthodox Jews alike. I also find it odd that the article mentions the high cost of ticket prices and memberships at other synagogues but doesn't list any of the costs associated with them or, for that matter, with Rabbi Greenspoon's services.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 17, 2012
The state is kicking off a $150,000 campaign to advertise financing help for small businesses in Maryland. The state Department of Business and Economic Development said Tuesday that it will be running ads — online and on radio stations for 10 weeks — to spread the word that four of the state's financing programs still have money to extend after receiving $23 million in federal funding through the Small Business Jobs Act of 2010. The state, which has spent or earmarked about $1.3 million since getting the OK to start using the money last June, has until 2018 to allocate it all. The "Financing that Fits" campaign advertises the Maryland Small Business Development Financing Authority, which gives credit guarantees; the Maryland Industrial Development Financing Authority, which gives loan guarantees; the Maryland Venture Fund, which invests in startup companies; and Neighborhood Business Works, which provides gap financing.
BUSINESS
Natalie Sherman, The Baltimore Sun | June 24, 2014
Baltimore data analysis firm RedOwl Analytics announced Tuesday it has raised $4.6 million in new capital from investors, including several San Francisco-based venture capitalists and Under Armour CEO Kevin Plank. The company, founded in late 2011, is developing software that allows corporations to sort through employees' digital trail, tracking behavior to spot potential problems. RedOwl said in a release the new Series A financing will allow it to improve its product and add clients in industries such as financial services.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | March 25, 2013
High Street Partners, a business software and services company based in Annapolis, said Monday it received $8 million in financing, the largest round of funding in its 10-year history. The company said it would use the proceeds raised from venture capital investors - Baird Capital, Sigma Partners and Gold Hill Capital - to accelerate the launch of applications in its HSPOverseasConnect platform. High Street's offers software and services that help companies with back-office operations, such as payroll.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 28, 2013
The board of the Baltimore Development Corp. is recommending the city approve a developer's request for $107 million in tax increment financing to pay for roads, utilities and parks for the $1 billion mixed-use Harbor Point development on the waterfront between Harbor East and Fells Point. The board of the BDC, the city's development agency, voted Thursday to send a recommendation to Mayor Stephanie Rawlings-Blake for consideration. The financing, a way to fund construction of public infrastructure for new development, also requires City Council approval.
BUSINESS
By Dow Jones News Service | June 23, 1993
MicroProse Inc. said yesterday that it closed its $10 million financing with Spectrum HoloByte Inc.As part of the financing agreement, MicroProse also said that Spectrum has appointed Patrick S. Feely, Gilman G. Louie, Barry James Folsom and Frank Murnane to the MicroProse board, representing one-half of its members.John W. Stealey Sr., MicroProse's co-founder and principal stockholder, has resigned as president and chief executive, and Spectrum intends to appoint a replacement acceptable to MicroProse.
BUSINESS
September 19, 1999
Dear Mr. Azrael:My husband and I recently contracted to have a home built. The home is scheduled for construction to begin in October with an estimated settlement in January.We have put a down payment down and expect to put down over 20 percent at settlement. We need to secure a mortgage company [and] pay for an appraisal fee and a credit report.My question is that, since January is so far away, and no one knows what the rates will be, what is the best way to handle the financing?Do we just go ahead and go with [the builder's mortgage company]
NEWS
By Erin Cox and The Baltimore Sun | September 25, 2014
The Maryland Board of Elections determined Republican Larry Hogan broke a campaign finance rule, but the panel agreed Thursday to waive the fine associated with the minor infraction. Elections officials cleared Hogan of wrongdoing in two of three charges leveled against him by the Maryland Democratic Party this summer. In the third charge, officials determined Hogan violated campaign-finance rules by not paying his advocacy group, Change Maryland, for a poll the group sold to his campaign.
NEWS
September 24, 2014
I agree that Montgomery County's campaign finance reform bill is a step in the right direction ( "An alternative to fat-cat politics," Sept. 22). In recent years, big-money donations have corrupted our elections and therefore made our political system less democratic. Never before has our nation seen such vast sums of cash flowing into politics. Money talks. The wealthy individuals and corporations throwing this money at candidates have their own agendas and make it hard for candidates to focus on average donors.
NEWS
By Yvonne Wenger, The Baltimore Sun | September 8, 2014
Baltimore Police Commissioner Anthony W. Batts was confirmed Monday by the City Council for a full six-year term. Batts has led the city's police force since October 2012, when he was selected to fill the unexpired term of the previous commissioner, Frederick H. Bealefeld III. His appointment was confirmed unanimously on a voice vote without discussion. He will receive a salary of $201,700, reflecting an $8,000 raise. Council President Bernard C. "Jack" Young said Batts has made "some improvements" and that he was especially pleased with the commissioner's efforts to put more police in neighborhoods.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 8, 2014
A planned Southern Maryland power plant that was to be built with state help — an arrangement that set off an industry fight — landed financing Friday to start construction despite a court ruling quashing the assistance. Silver Spring-based Competitive Power Ventures and its partners said they received financing from 15 lenders, including GE Energy Financial Services, which anchored the effort. Major construction on the $775 million Waldorf plant is expected to start in September.
NEWS
By Luke Broadwater and The Baltimore Sun | July 30, 2014
Baltimore finance director Harry Black is resigning to become the city manager of Cincinnati - the latest of at least six high-level departures from City Hall in a year. A Park Heights native, Black had been the city's finance director for about 21/2 years. He will be replaced by Finance Department deputy Henry Raymond, according to the mayor's office. Black's last day in Baltimore will be Aug. 20. His new job is pending approval of the Cincinnati City Council. “I would like to thank Mr. Black for his dedicated service to my administration and the City of Baltimore,” Mayor Stephanie Rawlings-Blake said in a statement.
NEWS
By Erin Cox and The Baltimore Sun | July 9, 2014
Republican Larry Hogan will pay for his bid for governor with public financing, the first candidate to mount a state-wide general election bid on taxpayer dollars in two decades.  Hogan's campaign will receive a $2.6 million within the next few weeks to finance his race against Democrat Anthony G. Brown, who has proved himself a formidable fundraiser by collecting more than $12 million for the primary election alone.  "The Democratic Party...
NEWS
October 7, 1990
Signet Bank has provided construction financing and its affiliate, Signet Mortgage Corp., has provided residential financing for Nu-Homes Inc.'s development at Parson's Ridge in Bel Air.A grand opening preview of the model homes was on Sept. 14. This opening included a luncheon and tours of the award-winning homes, The Tidewater and The Millwood. The models, with prices starting at $239,000, are offered through Will Schneider and Joy Schene of Prudential Preferred Properties.Present at the opening were members of the Harford County Association of Realtors and its president, Joan Ryder.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | October 5, 1994
Univax Biologics Inc. of Rockville yesterday lost its financing for a new manufacturing plant and headquarters, as Bioplex Group Inc. backed out of a $45 million deal to build a 130,000-square-foot facility that was set to open in 1996.Bioplex, which has dual headquarters outside Boston and San Diego, said it was pulling out of the deal and suspending all biotechnology activities because of pending litigation. Bioplex officials couldn't be reached late yesterday after the announcement, and Univax officials say they don't know what the lawsuit is about.
NEWS
By Erin Cox, The Baltimore Sun | July 9, 2014
Republican Larry Hogan will be the first candidate in two decades to mount a statewide general election bid using taxpayer donations. Hogan's campaign said Wednesday that it will accept public financing, an unusual move that reflects the GOP's uphill political fight against Maryland's better-funded and more powerful Democratic Party. The decision will give Hogan's camp a $2.6 million check from state coffers to pay for his race against Democrat Anthony G. Brown, who has proved himself a formidable fundraiser by collecting more than $12 million for the primary election alone.
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