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BUSINESS
February 3, 1993
More overtime for Saturn linesGeneral Motors Corp. said yesterday that it is considering adding another day of overtime production each week to keep up with consumer demand for its popular Saturn small cars.@
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NEWS
By Frederick N. Rasmussen, The Baltimore Sun | September 6, 2013
Marlin W. Gorman, a retired maintenance supervisor who was an ardent railroad fan, died Aug. 19 of heart failure at Gilchrist Hospice Care in Towson. He was 84. The son of an electrician and a homemaker, Marlin Walker Gorman was born in Wilkensburg, Pa., and moved with his family to Baltimore during World War II. After graduating in 1948 from Polytechnic Institute, he attended the Johns Hopkins University, where he studied electrical engineering. From 1950 to 1952, he served with the 2nd Armored Division in Korea.
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NEWS
February 26, 2002
GM predicts gain in profit for quarter, plans to increase output In a show of optimism, General Motors Corp. predicts a 20 percent profit gain for the first quarter and earnings of $4.65 a share for all of 2002. The automaker also says it has plans to increase production because of better-than-expected U.S. sales. [Page 1d]
NEWS
May 2, 2013
Gov. Martin O'Malley says the Netflix series "House of Cards" brought $140 million into the state's economy ("'Cards' a good deal, Md. Says," April 30). Where have we heard this before? In 2010 the Detroit Free Press reported that "Michigan's bid to become a Midwest center of movie production is to get a huge boost Tuesday with the announcement of a Hollywood film production studio and talent agency opening shop in Pontiac. Motown Motion Picture Studios, a new company, will open a $54-million, 600,000-square-foot studio and production facility at General Motors Corp.'s former Centerpoint truck plant and office complex in Pontiac, said Gov. Jennifer Granholm's spokeswoman Liz Boyd.
BUSINESS
By Walter Hamilton and Walter Hamilton,Los Angeles Times | March 6, 2009
NEW YORK -Stock prices sank yesterday to fresh bear-market lows on renewed worries about the country's banks and about General Motors Corp. The market opened lower and fell steadily throughout the day, with the Dow Jones industrial average sagging 281.40 points, or 4.1 percent to 6,594.44, falling below the nearly 12-year low it set Tuesday. Yesterday's decline marked the second time this week that the blue-chip barometer fell nearly 300 points. The Standard & Poor's 500 dropped 30.32 points, or 4.3 percent, to 682.55, its lowest level since September 1996.
BUSINESS
July 8, 1993
Pilots incensed at Merrill LynchAmerican Airlines' pilot union, furious over a report by a Merrill Lynch & Co. stock analyst, is yanking a $14 million account away from the securities firm and asking its 11,500 members to switch accounts to other firms.The Allied Pilots Association is incensed about a March Merrill Lynch research report that it claims pins the airline industry's woes on high labor costs, particularly high pilot pay.Pay-TV firm, Universal agreeDirecTv Inc., a satellite pay-television service, has signed an agreement with MCA Inc.'s Universal Pictures to offer the studio's movies.
BUSINESS
July 17, 1993
GM to stop urging federal benefitsGeneral Motors Corp. said yesterday it would stop urging its workers to apply for federal unemployment benefits rather than state compensation even though it is a legal option that saves the company money. The announcement comes a day after members of the House Ways and Means Committee said they would work to end the option in the federal unemployment program.Wickham to raise $1 millionThe J.L. Wickham Co., a Baltimore machine tool manufacturer, is conducting a private offering of $1 million in stock to raise working capital, according to company Chairman Richard P. Sullivan.
BUSINESS
By Bloomberg Business News | October 22, 1994
NEW YORK -- U.S. stocks skidded yesterday for a second day as lingering concern about another interest-rate increase by the Federal Reserve quashed optimism about stronger than expected third-quarter earnings."
BUSINESS
December 22, 1994
Borden acquisition by KKRKohlberg Kravis Roberts & Co. said yesterday that it has acquired nearly 70 percent of Borden Inc.'s shares, enough stock in the financially struggling food giant to complete its $1.9 billion buyout.In the deal, Borden shareholders will exchange their stock for 2.29146 shares of RJR Nabisco Holdings Corp. that are currently held by Kohlberg, Kravis. At RJR Nabisco's closing price of $5.8125 on the New York Stock Exchange yesterday, the exchange is worth $13.32 a share for Borden stockholders.
BUSINESS
October 29, 1992
Marriott plan spurs another outcryMarriott Corp., under siege from big bondholders over its plan to split the company in two, is prompting another outcry from other investors worried about the hotel chain's reorganization plan. Marriott said yesterday about $200 million of a special kind of Marriott securities, convertible into the company's common stock, will instead convert into the new company that will keep $2.9 billion of debt and real estate under the plan.The latest detail of the controversial restructuring amounts to a "trampling of the rights of the convertible holder," said Barry Alter, president of Capital Performance Group, an investment adviser and owner of the Marriott preferred shares.
NEWS
By Jacques Kelly, The Baltimore Sun | April 1, 2012
Clarence Cromwell Boyle Sr., a Harford County automobile dealership owner who served in World War II, died of heart disease at Upper Chesapeake Medical Center on March 27. He was 85 and lived in Bel Air. Born at home on his family's farm in the Level section of Harford County, he was the son of Howard Benjamin Boyle, a county roads supervisor, and Ethel Bowman, a homemaker. Family members said he learned to fly an airplane before he had a driver's license. He practiced at Aldino Airport near his home.
NEWS
By Jacques Kelly, The Baltimore Sun | December 2, 2010
Carolyn Taylor, a retired General Motors worker, died of an apparent heart attack Saturday at Johns Hopkins Bayview Medical Center. She was 69 and lived in Northeast Baltimore. Born Carolyn Daveta Pitts in Baltimore and raised in East Baltimore, she was a 1961 graduate of Dunbar High School, where she was class salutatorian. She attended the old Baltimore City Community College and studied nursing. She worked as a home caregiver after high school. She then worked at the old Western Electric Co.'s Point Breeze Works.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,andrea.walker@baltsun.com | January 27, 2010
General Motors Corp. has chosen its White Marsh plant for a new effort to build electric motors, and on Tuesday it laid out plans for an expansion that will generate 180 much-needed jobs and provide a boost for the hard-hit manufacturing sector. The automaker, which would become the first car company to produce its own electric motors, announced that it plans to start making the devices in 2013. The company is investing $246 million, including state funds and federal stimulus money, to construct a new 40,000-square-foot facility next to the site where workers now build transmissions, including some that go into hybrid vehicles.
BUSINESS
By Walter Hamilton and Walter Hamilton,Los Angeles Times | March 6, 2009
NEW YORK -Stock prices sank yesterday to fresh bear-market lows on renewed worries about the country's banks and about General Motors Corp. The market opened lower and fell steadily throughout the day, with the Dow Jones industrial average sagging 281.40 points, or 4.1 percent to 6,594.44, falling below the nearly 12-year low it set Tuesday. Yesterday's decline marked the second time this week that the blue-chip barometer fell nearly 300 points. The Standard & Poor's 500 dropped 30.32 points, or 4.3 percent, to 682.55, its lowest level since September 1996.
NEWS
February 26, 2002
GM predicts gain in profit for quarter, plans to increase output In a show of optimism, General Motors Corp. predicts a 20 percent profit gain for the first quarter and earnings of $4.65 a share for all of 2002. The automaker also says it has plans to increase production because of better-than-expected U.S. sales. [Page 1d]
NEWS
By Jean Marbella and Jean Marbella,SUN NATIONAL STAFF | June 17, 1998
FLINT, Mich. -- From the view on the streets, you'd never know there was such a thing as, say, a Honda Accord or a Toyota Camry. Here, they drive not just American, but local.It seems everyone who lives here has either built a spark plug or welded an engine cradle -- or is the spouse or child or sibling of someone who has -- of the Chevys, Buicks and other local products that ply the roadways in this city 65 miles north of Detroit."We don't make lemons, so we believe in buying our own," said Russ Brown, a longtime auto worker who tools around in his new Chevrolet Astro van, which rolled off the General Motors assembly plant on Broening Highway in Baltimore a couple of months ago and ended up here, the birthplace of both the company and the union of the workers who created it.Today, however, as Brown and his fellow United Auto Workers continue a 12-day-old and increasingly crippling strike against GM, it is their shared hometown that seems certain to lose, regardless of its outcome.
BUSINESS
By Michael Arndt and Michael Arndt,Chicago Tribune Kim Clark of The Sun's business staff contributed to this article | March 21, 1992
WASHINGTON -- Afraid of angering Japan and Europe, the Bush administration has dropped a plan to boost by 10 times the import tax on foreign minivans and Jeep-like multipurpose vehicles, which would have added $2,000 to $6,000 to the sticker price of the popular vehicles.The elevated tariff, to 25 percent of a vehicle's wholesale price from the current 2.5 percent, was opposed by many automobile dealers and some consumer advocates, who predicted domestic companies would take advantage of higher prices on imports to raise prices on their own products.
BUSINESS
By Bloomberg Business News | January 5, 1995
NEW YORK -- U.S. stocks climbed yesterday as a rally in automakers overshadowed losses in beverage, gold and household products shares.Autos, along with tobacco and chemical companies, advanced amid expectations of profit increases in the fourth quarter of 1994 and first quarter of 1995."
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