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By Jamie Smith Hopkins and Jamie Smith Hopkins,Sun reporter | February 21, 2008
FTI Consulting Inc., a Baltimore company whose myriad services range from forensic accounting to business restructuring, said yesterday that it has bought a company that battles Chinese counterfeiters. Thompson Market Services Ltd., based in Hong Kong, is an intellectual property and "brand protection" services firm that investigates the counterfeiter supply chain - from makers to exporters to cyber-traders - and coordinates with the Chinese government on raids. It also provides market assessments and consults on brand-protection efforts.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 9, 2012
FTI Consulting Inc.'s stock price hit a 12-month low Wednesday after the business services company fell short of financial analysts' expectations for first-quarter earnings. The company, which has its corporate headquarters in Baltimore, said it earned 43 cents per share in the three months ending in March. That was up slightly from 42 cents per share a year earlier but 18 cents a share short of what analysts had anticipated. The company attributed the gap to a range of factors, including "expenses and investments that should not recur in 2012.
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BUSINESS
By Allison Connolly and Allison Connolly,Sun reporter | September 12, 2006
During the corporate scandals at Enron and WorldCom, Baltimore-based FTI Consulting Inc. was there. And now it's smack in the middle of the next big corporate accounting scandal, the backdating of stock option grants. "They probably won't brag that we were there, but they're awfully glad we were," FTI's president and chief executive officer, Jack Dunn, said of his clients in an interview yesterday. Last year, the rapidly growing company - which announced its largest acquisition to date yesterday - worked for 97 of the top 100 U.S. law firms, nine of the country's 10 largest banks and 66 Fortune 100 clients, according to its annual report.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 24, 2012
Baltimore-based FTI Consulting Inc. said it increased profits by more than 50 percent last year, driven in part by strong growth in its business consulting divisions in Latin America and Asia. The company reported net income of $103.9 million last year, up 57 percent from 2010 — even though revenue rose about 12 percent. FTI, which released the figures late Thursday and discussed them Friday, said that in addition to growth in many of its business practices, it got an income boost because it revalued downward the "contingent" payment it has to make on a recent acquisition.
BUSINESS
August 10, 2008
Boscov's files for Chapter 11 Regional department store chain Boscov's Inc. has filed for Chapter 11 bankruptcy protection and said it will close 10 stores including anchors at White Marsh, Owings Mills and Marley Station malls in the Baltimore area. Officials from the 49-store chain said in court filings and interviews that the collapse in the housing market, skyrocketing energy prices and higher food costs cut the discretionary spending of its customers and put pressure on the company's finances.
BUSINESS
By Laura Smitherman and Laura Smitherman,Sun reporter | January 1, 2008
In the midst of any stock market crisis, there's opportunity. That's what investors saw for FTI Consulting Inc. during the subprime mortgage meltdown. The Baltimore-based company advises businesses on crisis management and restructuring, and its stock soared 121 percent last year as it is expected to bring in more business from companies needing to change their business plans in the wake of the debacle. The rise of FTI's stock demonstrates how the subprime crisis dominated stock markets in 2007 for beneficiaries as well as casualties.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | September 25, 2004
Annapolis-based FTI Consulting Inc. said yesterday that it had hired board member Dennis Shaughnessy as full-time executive chairman of the board effective Oct. 18 as it separates the roles of chairman and chief executive. Jack Dunn, the current chairman, will continue as president and CEO. His contract was extended with renewal options through 2010. "I recently recommended to our board that FTI separate the office of chairman of the board and chief executive officer," Dunn said in a statement.
BUSINESS
By Leslie Cauley and Leslie Cauley,Staff Writer | July 13, 1992
On New Year's Eve in 1986, a disgruntled employee set fire to the Dupont Plaza Hotel in San Juan, Puerto Rico. The fire engulfed the hotel, killing 97 people.That tragedy captured headlines around the world -- and sparked a series of lawsuits, including one claiming several people died when portable stage equipment collapsed amid the flames. The class-action suit sought $10 million in damages from the equipment manufacturer.The manufacturer didn't believe its product, which had been stored in the hotel ballroom, was at fault.
BUSINESS
January 7, 2009
Wegmans to start offering free antibiotics Wegmans Food Markets Inc. said it will begin offering free antibiotics during cough and cold season as it tries to compete for customers in a weak economy. The Rochester, N.Y.-based grocery chain with 72 stores said shoppers with one of its club cards will not be charged for generic oral antibiotic prescriptions through March 31. The program covers up to a 14-day supply of the generic oral antibiotics, including amoxicillin and cephalexin, among others.
BUSINESS
By Graeme Browning | December 17, 1990
As Robert A. Simpson settles into his new position as chief operating officer of Annapolis-based Forensic Technologies International, he says he is determined to search out the best in services and supplies for the rapidly growing litigation support firm."
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 4, 2011
Baltimore-based FTI Consulting Inc. said profit was down 33 percent in the second quarter compared with a year earlier but would have risen if not for the effect of one-time charges from layoffs. FTI warned investors in July that the "special charges" would affect earnings initially, but officials said the reduction in executive management would lead to about $9 million in savings during the second half of the year. The business services firm, which has divisions across the world that help companies restructure, find financial fraud and deal with other corporate challenges, reported $16.9 million in profits during the three months ending in June, down from $25.1 million a year earlier.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 4, 2011
FTI Consulting's per-share profits in the first quarter rose 66 percent from a year earlier — when the Baltimore-based company took millions of dollars in charges related to layoffs — but the increase wasn't quite enough to meet analysts' earnings expectations. The company's stock dropped $1.94 a share Wednesday to close at $38.54. FTI, whose clients are businesses dealing with challenges ranging from mergers to fraud, reported earnings Wednesday of 48 cents per share in the three months ending March 31, up from 29 cents per share in the first quarter of last year.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | March 15, 2011
Baltimore-based FTI Consulting Inc. said Tuesday that it plans to acquire three practices from LECG Corp. — the majority of its remaining European operations — for an undisclosed amount. FTI is acquiring LECG Corp.'s market-leading competition policy practice, financial advisory services practice and tax consultancy group. FTI, which provides business services ranging from forensic accounting to corporate restructuring, purchased LECG's international arbitration and airline competition practices earlier this year.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | March 1, 2011
Baltimore-based FTI Consulting Inc. said Tuesday that it had acquired part of competitor LECG Corp. for an undisclosed amount. FTI, which provides business services ranging from forensic accounting to corporate restructuring, purchased LECG's international arbitration and airline competition practices. FTI said it was considering the possibility of acquiring several other divisions of the Pennsylvania-based LECG, which was pressed into a sale by an impending deadline to repay about $28 million in outstanding principal for a maturing loan.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 5, 2010
Some of FTI Consulting Inc.'s corporate services flourish in terrible times and others rev up when the economy is good, but this uncertain recovery is kicking the Baltimore firm down a notch. FTI said Thursday that its second-quarter profits fell 33 percent, to $25.1 million. The U.S. economy improved to the point that fewer companies need its corporate restructuring services, but not enough to accelerate demand for help with normal business activities such as mergers and acquisitions.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 5, 2010
Baltimore-based FTI Consulting Inc. said Wednesday that its profits declined 55 percent in the first quarter compared with the comparable period a year ago, to $14.2 million. The company took a $30.2 million hit in special charges, three-quarters of that in cash, because it laid off 144 employees and consolidated offices "to eliminate redundancies resulting from acquisitions completed over the last two years," it said. FTI, provider of forensic accounting, restructuring and other business services, said revenues increased about half a percent to $350 million in the first quarter.
BUSINESS
By This column was compiled from dispatches by Sun reporters | February 13, 2008
Maryland : Nuclear power Constellation unit acts on reactor plan Constellation Energy Group's nuclear development arm has notified federal regulators of its plans to seek a license to build a nuclear reactor near Oswego, N.Y., the company said yesterday. UniStar Nuclear, a joint venture of Constellation and Paris-based EDF Group, said the Nuclear Regulatory Commission notification is another milestone in its plans to build up to four new plants in the United States based on a French reactor design.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 23, 2010
FTI Consulting's chief executive took a $5.6 million cut in his compensation last year, the Baltimore company said Friday. Jack B. Dunn IV was paid just under $3.9 million in salary, stock awards and other compensation in 2009, down from $9.5 million in 2008. His salary rose, but he received fewer shares of stock and no options. FTI, which offers forensic accounting, restructuring and other business services, saw its stock price rise 5.6 percent last year while its profits rose about 18 percent.
BUSINESS
April 2, 2010
Baltimore-based FTI Consulting Inc. said Thursday that it is expanding in Asia with the acquisition of a Hong Kong firm. Like FTI, Baker Tilly Hong Kong Business Recovery Ltd. specializes in forensic accounting, litigation support and corporate restructuring. FTI, which did not disclose what it is paying, said the firm will change its name to FTI Consulting (Asia) Ltd. - Jamie Smith Hopkins
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