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By Natalie Sherman, The Baltimore Sun | January 4, 2014
The stock market's banner year brought good news to Baltimore money management firms, with leaders pointing to a rising tide that buoyed their funds and their companies' prospects. Market indices soared in 2013, with the S&P 500 up almost 30 percent, the Dow Jones industrial average up 27 percent and the Nasdaq up 38 percent. The stocks of smaller companies, in particular, climbed: the Russell 2000, one of the indices used to measure small-cap funds, rose about 39 percent. It was the best annual performance since the 1990s for the S&P and the Dow, and the best since 2009 for Nasdaq.
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BUSINESS
By Lorraine Mirabella and The Baltimore Sun | October 1, 2014
Offenbacher Aquatics Inc., a regional retailer of patio furniture, grills and fireplaces, has been acquired by a private equity buyout firm that plans to expand the chain and upgrade stores and the online presence. Antson Capital Partners LLC, based in Baltimore, said Wednesday it acquired the Lanham-based retailer's seven stores, in Maryland and Virginia. Financial terms were not disclosed. "Offenbacher's has strong name recognition and presents us with a substantial opportunity to increase market share in the region and expand our footprint," Andrew Cohen, an investor who was named chief executive officer of Offenbacher, said in the announcement.
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BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | August 11, 1993
The future of technology is now, and it's a mess.Massive layoffs, drastic reorganizations and severe product price cuts characterize the computer industry in 1993.Trusted firms such as IBM and Apple Computer, which were supposed to lead average Americans into the technological era, are malfunctioning just when they're needed most. Stocks of both have been placed on the sell lists of many investment firms.Even the stock of software giant Microsoft Corp. took a tumble when the company said price competition will keep profits from matching its historically high growth rates.
BUSINESS
Staff Reports and The Baltimore Sun | September 29, 2014
Ironmark, a printing and image consultant company that was formed through the 2011 merger of Frank Gumpert Printing and Corporate Printing Solutions, announced Monday it will consolidate its Annapolis and Hunt Valley operations into a new headquarters in Howard County. In a news release, company officials said Ironmark's 110 employees will relocate to a 50,000-square-foot facility in Annapolis Junction by Oct. 8. The move comes three years after Frank Gumpert Printing, in Annapolis, and Corporate Printing Solutions, in Hunt Valley, merged to become CPS Gumpert.
BUSINESS
By Timothy J. Mullaney | January 15, 1992
Last year, after Buzz Sheain sold his Towson dry cleaning business, he went into a field that had been taken to the cleaners for the better part of three years.In other words, Charles S. Sheain Jr. is now a stockbroker.After almost 18,000 brokers hung up their Quotron machines in the three years after the 1987 crash, representing about 20 percent of the industry nationwide, securities firms are hiring again.But all the defections of brokers who couldn't make enough money on commissions and the firing of investment bankers who couldn't earn their keep have taught the firms a lesson.
BUSINESS
By Knight-Ridder News Service | October 24, 1994
That old saw about small business being the engine of job growth isn't true anymore. Now the growth is at really tiny firms, those with less than five workers, that the government calls "microbusinesses."From 1989 through '91, jobs at firms with five to 500 employees -- the traditional definition of small business -- actually declined by more than 2 million, according to the Small Business Administration.But at microbusinesses, employment exploded by 2.6 million, the SBA said in a recent report.
BUSINESS
By Timothy J. Mullaney | January 15, 1992
Last year, after Buzz Sheain sold his Towson dry cleaning business, he went into a field that had been taken to the cleaners for the better part of three years.In other words, Charles S. Sheain Jr. is now a stockbroker.After almost 18,000 brokers hung up their Quotron machines in the three years after the 1987 crash, representing about 20 percent of the industry nationwide, securities firms are hiring again.But all the defections of brokers who couldn't make enough money on commissions and the firing of investment bankers who couldn't earn their keep have taught the firms a lesson.
BUSINESS
By Carol Kleiman and Carol Kleiman,Chicago Tribune | September 9, 1991
CHICAGO -- When Suzanne Smith and Barney Olmsted of San Francisco founded New Ways to Work in 1972, a group of New England teachers and social workers were "job sharing" as part of an experimental project.But the idea of two people, each a part timer, voluntarily sharing the responsibility, salary and benefits of one full-time position hadn't caught on nationwide."We started our organization to be a full-service vocational resource center with an emphasis on the quality of life, so when we heard about job sharing, we grabbed hold of it," said Smith, who job shares as co-director with Olmsted.
NEWS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | July 8, 1995
It was a weird prejudice, Raymond V. Haysbert says. After all, it's not as if black Americans hadn't been cooking for whites since about the time the two groups met.But there it was. Parks Sausage Co., then H.G. Parks Inc., needed a kid to whine its now-famous slogan "More Parks Sausages, Mom . . . Please?" And though Parks was one of America's pioneering black-owned businesses, no one ever much questioned that the kid had to be white."If a person with a Negro voice said something in a commercial, people would be against it," said Mr. Haysbert, the 75-year old chairman of Parks and one of the 44-year old firm's first employees.
NEWS
By Alisa Samuels | January 22, 1992
Opening statements began in Baltimore Circuit Court yesterday in an $18 million lawsuit Baltimore has filed against five firms that provided asbestos products that were used in city buildings.Stanley J. Levy, an attorney for the city, asked the jury to ponder whether the firms acted responsibly when they installed the asbestos products.The inhalation of tiny asbestos fibers has been linked to lung cancer, asbestosis and mesothelioma, a rare and always fatal cancer of the lining of the lung or abdomen.
NEWS
By Frederick N. Rasmussen and The Baltimore Sun | September 26, 2014
Douglas R. Legenhausen, a jewelry designer and master craftsman who worked in iron, gold and silver, died Sept. 20 at Gilchrist Hospice Care in Towson of complications from back surgery. He was 69. The son of Chester Legenhausen, a house painter, and June Legenhausen, a homemaker, Douglas Raymond Legenhausen was born in Queens, N.Y., and was raised in Ossining, N.Y., and Croton-on-Hudson, N.Y. After graduating in 1964 from Mahopac High School in Mahopac, N.Y., he earned a bachelor's degree in fine arts in 1969 from the Rochester Institute of Technology and a master's degree in 1972 in fine arts from the Rhode Island School of Design.
BUSINESS
By Arthur Hirsch and The Baltimore Sun | September 24, 2014
Bethesda-based accounting, tax and consulting firm Watkins Meegan LLC will combine its practice with one of the country's leading firms, New York-based CohnReznick LLP, in an agreement expected to take effect Nov. 1. The combined firm is expected to have annual revenues of $600 million, nearly 300 partners, about 2,750 employees and 28 offices. Founded in 1975, Watkins Meegan also has offices in Annapolis and Herndon and Tysons Corner, Va. CohnReznick, the nation's 10 t h largest accounting firm, has offices in Baltimore and Bethesda.
BUSINESS
By Natalie Sherman and The Baltimore Sun | September 22, 2014
A group of investors plans to buy commercial real estate services firm Cassidy Turley and combine it with DTZ, creating a global real estate network, Cassidy Turley said Monday. Terms of the deal, expected to close at the end of the year, were not disclosed. The combined firm, which will use the DTZ brand, represents some $2.9 billion in revenue and more than 28,200 total employees, Cassidy Turley said in a statement. The Cassidy Turley brand launched in 2010, roughly two years after four groups, including former Baltimore-based Colliers Pinkard, joined to create a larger real estate network.
BUSINESS
By Arthur Hirsch and The Baltimore Sun | September 22, 2014
Executives seeking advice on management, decision-making, communication and other leadership skills have a new place to turn in Baltimore, as seven local business leaders have teamed up to launch a coaching and consulting firm. Based in Baltimore, Protégé Executive Coaching & Consulting LLC, has been established by executives with a range of experience, including finance and investments, communications, technology, healthcare, higher education and nonprofits. Warren Green, former President and CEO of LifeBridge Health, said in a news release that the executives at Protégé have experience as mentors, and intend to act as "an impartial sounding board that becomes a key ingredient in improving performance and job satisfaction.
BUSINESS
By Arthur Hirsch and The Baltimore Sun | September 18, 2014
Maryland Department of Natural Resources Police will be able to keep an eye on their colleagues on patrol out on the Chesapeake Bay thanks to a new live video streaming system built with the help of a Baltimore County technology company. The system built by Tessco Technologies Inc., located in Hunt Valley, along with the DNR and RAD Data Communications, a New Jersey firm, is now running on 140 police boats that cover the bay's 64,000 square miles. DNR spokeswoman Candy Thomson said the system helps officers at the command center in Annapolis keep an eye on officers on patrol, who are often miles away from the nearest backup.
BUSINESS
By Natalie Sherman and The Baltimore Sun | September 15, 2014
Boutique investment firm Hardesty Capital Management moved this month from its longtime home in Mount Vernon to a new office in Hunt Valley, which it said offers more modern conveniences and room to grow, while being closer to its customer base of wealthy Maryland families. The firm has looked to add clients, even as the rising stock market has helped drive its assets under management to more than $900 million, a record for the business. President Chad Meyer, who was hired as chief marketing officer last year, said the 14-person firm is looking to hire more people on the investment side to handle the increased funds, as well as staff that would help bring in business from other parts of Maryland and southern Pennsylvania.
BUSINESS
By New York Times News Service | February 13, 2007
WASHINGTON -- The Securities and Exchange Commission has begun to take steps on two fronts to protect corporations, executives and accounting firms from investor lawsuits that accuse them of fraud. The commission filed a little-noticed brief in the Supreme Court Friday urging the adoption of a legal standard that would make it harder for shareholders to prevail in fraud lawsuits against publicly traded companies and their executives. At the same time, the agency's chief accountant said the SEC was considering ways to protect accounting firms from large damage awards in cases brought by investors and companies.
BUSINESS
October 14, 1995
Twenty-two Maryland companies have been named to Inc. magazine's list of the nation's 500 fastest-growing private companies, placing the Free State fifth among the 50 states in nurturing up and coming entrepreneurs.The top Maryland company on the list in terms of sales is No. 37 Counter Technology, a Bethesda firm that provides security management and telecommunications systems design services. The company's sales grew 3,157 percent between 1990 and 1994, reaching $10.1 million last year.
BUSINESS
By Natalie Sherman and The Baltimore Sun | September 12, 2014
Maryland-based EMG merged this month with an Arizona firm, a move that adds project management services to the Hunt Valley engineering, environmental and capital planning company's capabilities. The deal with Arizona-based Quality Project Management also expands EMG's geographic reach. Together the companies have about 450 employees in 37 states, of which about 350 were part of EMG prior to the merger. "The transaction's synergies enable us to serve our clients at every stage of the real estate lifecycle, from the acquisition of portfolios and asset management to planned capital improvements and the disposition of properties," EMG CEO Claude N. Limoges said.
BUSINESS
By Natalie Sherman, The Baltimore Sun | September 1, 2014
A Baltimore architecture firm founded in 1977 by two Park School graduates and a friend has nearly doubled in size in the last two years, making its most ambitious bid for greater reach last month when it announced the expansion of its footprint to Colorado. In two years, Hord Coplan Macht has opened an office in Alexandria, Va., wooed top talent to its ranks, and worked to merge with smaller Denver-based SlaterPaull. The growth has brought employee count at the firm — which worked on Fells Point's Union Wharf apartments, Towson University's new SECU Arena, Morgan State University's Center for the Built Environment and Infrastructure Studies and the West Shore Park, among other projects — to 180, up from about 100 just two years ago. "We didn't sit down and say, 'Let's open up an office in the Rocky Mountain region someday, but we did make a strategic decision that being 100 and some people in one region … was — not risky, but rather restrictive to us," said CEO Lee Coplan, 63, one of the firm's three founders.
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