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By David Conn and David Conn,KPMG Peat Marwick Foreign-company employment in Maryland F: KPMG Peat Marwick | January 12, 1991
The British are coming! And the French and Germans and Japanese, too!Foreign investment in Maryland is growing. According to Robert E. MacDonald, director of international business development at the Department of Economic and Employment Development, Maryland's efforts to woo foreign companies are paying off.Two new reports on foreign investment in Maryland illustrate the increasingly international nature of the state's economy.According to an unpublished department report, direct foreign investment, including land holdings and stock ownership, grew in Maryland to an estimated $3.9 billion last year from $1.8 billion in 1980.
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NEWS
By Mary Carole McCauley, The Baltimore Sun | July 31, 2012
Baltimore's cutting-edge theater scene just became a bit less razor-sharp. For the first time in more than 40 years, Spanish puppet troupes and headline-making performers who smear chocolate on their skin will have a hard time finding a stage where they can put on their shows. Primarily for economic reasons, Baltimore's venerable Theatre Project has quietly stopped bringing in experimental artists with global and national reputations. Instead, the 150-seat showhouse at 45 W. Preston St. is hosting local theater and regional dance companies.
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BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,lorraine.mirabella@baltsun.com | February 12, 2009
As many as 150 jobs are expected to be created in Maryland in the next few years by foreign companies that set up operations in the state within the past year, state officials said yesterday. Thirteen companies from Israel, Russia and countries in Europe and Asia have opened Maryland offices in the past 10 months, compared with just two new foreign companies that the state helped to attract in 2007, officials said. Gov. Martin O'Malley and economic development officials said stepped-up outreach efforts are paying off. Companies in bioscience, energy, technology, defense and aerospace industries have opened in Howard, Harford, Baltimore, Anne Arundel, Montgomery, Prince George's and Charles counties.
NEWS
January 24, 2012
Your editorial "A sad 'Kodak' moment" of Jan. 21 clearly identified the problem that resulted in Kodak's bankruptcy as a lack of vision by the executives. As you pointed out, it's ironic that Kodak invented digital photography in 1976 but didn't move forward aggressively. Kodak's failure to capitalize on a technology that it invented is not the first example of an American company lacking the vision to fully develop products into marketable items. Ampex invented video recording only to see foreign companies such as Sony move the technology forward and capture the major share of the market while Ampex disappeared.
BUSINESS
By Knight-Ridder News Service | April 10, 1992
WASHINGTON -- Although their sales keep going up, 72 percent of foreign companies doing business in the United States pay no federal income taxes, the Internal Revenue Service told a congressional panel yesterday.Foreign companies avoiding U.S. taxes may cost the Treasury $30 billion a year, House Ways and Means Committee investigators said.Rep. J. J. "Jake" Pickle, D-Texas, chairman of the Ways and Means oversight subcommittee, said the problem is getting worse.But IRS Commissioner Shirley Peterson said 59 percent of U.S. corporations also pay no income tax.IRS officials cautioned that recent studies have shown there might be legitimate reasons -- such as higher start-up and investment costs -- for the lower profits typically reported by foreign businesses.
NEWS
April 3, 1991
Stephen Oliver, 82, of Columbia, retired salesman:Yes, the more the merrier. Maryland can always use the business. He's got to bring around the economy somehow, and if that means bringing in foreign companies, that's fine with me.
BUSINESS
By Bloomberg Business News | February 5, 1995
WASHINGTON -- The Federal Communications Commission is expected to propose Tuesday a sweeping set of rules that details how and when foreign companies will be allowed to enter U.S. communications markets.The initiative, launched in response to a petition from AT&T Corp., will cover both foreign companies that want to set up U.S. affiliates and those that want to make investments in U.S. companies. While AT&T's request included only telephone companies, the plan might encompass the broadcast business as well, industry officials said.
BUSINESS
By Ian Johnson and Ian Johnson,Staff Writer | December 27, 1992
NEW YORK -- Are foreign-owned companies the deadbeat dads of the U.S. tax system?They certainly are if you believe President-elect Bill Clinton, who is counting on raising $45 billion over four years for his social programs by cracking down on foreign companies.The companies, however, tell a different story. Although nervous -- and silent for fear of attracting more attention from the incoming administration -- they remain certain that Mr. Clinton's proposal is exaggerated and based on shaky numbers, a claim buttressed by many tax analysts and Internal Revenue Service figures.
NEWS
By CAPITAL NEWS SERVICE | April 11, 1997
WASHINGTON - Maryland ranks 19th in the country for attracting jobs from U.S. subsidiaries of foreign companies, and Virginia ranks 12th, according to the Organization for International Development, a nonprofit trade association.Robert Riva, an economist at the Regional Economic Studies Institute at Towson State University, said having both states among the top 20 is good for the region. Virginia is doing better, he said, for a variety of reasons, including politics."Gov. George Allen was very aggressive in his recruitment of companies to Virginia," Riva said.
NEWS
By NEWSDAY | July 15, 1996
MEXICO CITY -- For foreign investors doing business with Cuba, this is judgment day: the deadline for President Clinton to make a decision on the thorny issue of tightening the economic noose around Fidel Castro, and in doing so alienating some of the United States' closest allies.Clinton has until midnight to decide whether to waive enforcement of the most controversial provision of a new law aimed at the hemisphere's last Communist regime.The law allows Clinton to waive, in six-month periods, sanctions that could cost foreign companies hundreds of millions of dollars.
NEWS
By Sam Braids | May 31, 2011
The banishment of U.S. players from the major online poker rooms has affected millions of Americans. With the exception of a few jurisdictions, such as Washington state, it is not illegal for Americans to play online poker. Instead, the Department of Justice contends that according to a bizarre 2006 law, it is illegal for financial institutions to transfer funds between U.S. residents and the foreign companies that offer online poker. In order to prove the obvious, that money was indeed exchanging hands, Homeland Security set up a phony payment processing company in Baltimore to facilitate these transactions so that it could indict the executives of the online poker companies and seize their funds.
NEWS
By Peter Morici | March 24, 2010
Google's censorship struggle with Beijing crystallizes the challenge China poses to American global leadership. Until the Google imbroglio, we heard much about China's undervalued currency and subsidized exports, rough treatment of foreign investors and purchases of U.S. debt -- but not enough about Beijing's restrictions on unfettered access to information, expression and self-determination. Americans believe individuals -- free to think, speak and chart their own lives -- best guide the progress of nations.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,gus.sentementes@baltsun.com | October 17, 2009
State economic development officials joined with leaders from the University of Maryland and China to open a new incubator and research park Friday near the College Park campus. The University of Maryland-China Research Park, the first Chinese-sponsored research park in the United States, aims to forge stronger ties between the campus, state business development leaders and companies in China that seek expansion in the U.S. C.D. Mote Jr., president of the University of Maryland, said Chinese officials had considered locating the park in other technology hubs in the United States, such as Southern California, North Carolina and Boston.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,lorraine.mirabella@baltsun.com | February 12, 2009
As many as 150 jobs are expected to be created in Maryland in the next few years by foreign companies that set up operations in the state within the past year, state officials said yesterday. Thirteen companies from Israel, Russia and countries in Europe and Asia have opened Maryland offices in the past 10 months, compared with just two new foreign companies that the state helped to attract in 2007, officials said. Gov. Martin O'Malley and economic development officials said stepped-up outreach efforts are paying off. Companies in bioscience, energy, technology, defense and aerospace industries have opened in Howard, Harford, Baltimore, Anne Arundel, Montgomery, Prince George's and Charles counties.
NEWS
By TaNoah Morgan and TaNoah Morgan,SUN STAFF | October 6, 2003
Executives from Howard County are taking a tour of Europe this week, celebrating a 25-year-old sister cities program and trying to lure more companies to the county. A group of 10 economic development executives and government officials, including Howard County Executive James N. Robey and Columbia Association President Maggie J. Brown, left Friday for a 12-day tour of France, Spain and Germany. The group plans to meet with executives of companies already in Howard and with business groups representing companies that might be interested in expanding to the United States.
NEWS
By Gady A. Epstein and Gady A. Epstein,SUN FOREIGN STAFF | October 8, 2002
SHANSHENMIAO VILLAGE, China - Until the day he really made it big, Shi Zhenguo always had the respect of his neighbors. Since his years as a teen in the 1970s, when he showed movies to fellow villagers during the Cultural Revolution, Shi moved from job to job in search of a career more rewarding than farming. Shi's father, a former local Communist Party secretary, didn't always approve of his son's forays into capitalism, but through it all, Shi remained well-liked in this cloistered community.
NEWS
By NEW YORK TIMES NEWS SERVICE | May 3, 1998
WASHINGTON -- Nearly 80 percent of the chemical ingredients for prescription drugs sold in the United States are imported, but federal investigators say in a new report that the government has failed to police the safety and purity of the products shipped to this country.The General Accounting Office, the congressional investigative agency, said federal authorities did not even have a complete, accurate list of foreign companies supplying chemicals to drug makers in the United States.Moreover, the report said, the foreign suppliers are inspected much less frequently than domestic companies.
BUSINESS
By Copley News Service | April 25, 1993
Investors who overlook the stocks of overseas companies may be missing two-thirds of their opportunities.U.S. issues represent little more than one-third of the world's total market in stock issues, says Charles Brandes, president of Brandes Investment Management Inc.Mr. Brandes, who manages a $650 million portfolio, has put about two-thirds of that in foreign stocks. His main clients are large pension funds, but he says international opportunities are available to individual investors as well.
NEWS
By NEW YORK TIMES NEWS SERVICE | August 4, 2002
Foreign investors, who once joined with confident Americans in a wave of spectacular acquisitions and business spending that helped power the 1990s economic boom, are turning cautious about the U.S. economy. That is compounding the current weakness and making it harder to achieve a robust recovery from last year's recession. With fresh acquisitions almost nil, foreign direct investment in the United States - the technical name for acquiring a company or establishing one - plummeted last year to $124 billion and started out this year at an even slower pace, the Commerce Department reports.
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