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By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | December 20, 1995
One of Baltimore's leading independent accounting firms has merged with the local office of Grant Thornton LLP, the nation's seventh biggest accounting group, officials at both firms said yesterday.Kamanitz Uhlfelder P.A., based in Pikesville, merged with Grant Thornton effective Dec. 1, partner Larry Kamanitz said. The firm had been in business for more than 30 years, and Mr. Kamanitz had gained prominence as president of the Maryland Association of Certified Public Accountants and chairman of the state panel that regulates the profession.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 14, 2014
A Sparks-based insurance company that was seized by Delaware regulators faces possible liquidation in a wild case - one with dueling allegations of fraud, forgery and a vendetta, plus a sanction involving an Aston Martin sports car. Delaware's Department of Insurance said Monday that Indemnity Insurance Corp. is in bad financial shape, and efforts to rehabilitate the company to avoid liquidation "have not been successful. " Indemnity's founder - who contends the company is financially solid - said the regulator has indicated in court that it wants to move this week to liquidate the firm.
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BUSINESS
By Michelle Singletary and Michelle Singletary,Evening Sun Staff | June 27, 1991
The economies of Baltimore and Washington continued to slow in the first quarter, slipping to the lowest point in three years, according to a report by Grant Thornton, a national accounting and management-consulting firm.The Grant Thornton Index, consisting of seven equally weighted economic indicators, fell 1.03 points in Baltimore, to 107.1, and 1.09 points in Washington, to 107.7, in the three months ending March 31. The index includes factory hours, non-farm payrolls, construction permits, retail sales, business starts, business failures and the money supply.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | November 11, 2003
In 1997, Congress gave retirement savers an attractive deal: Put after-tax dollars into a Roth IRA, and withdraw all future investment gains and contributions without ever paying another penny of tax. For some people, that is apparently not enough. They have sought to put in money on which they have never paid taxes, vastly exceed the annual contribution limit of up to $3,500 and reap much greater wealth. The Internal Revenue Service, as part of a crackdown on abusive tax shelters, has been pressing an action against one of the country's biggest accounting firms, Grant Thornton, to force it to disclose the names of clients it advised to shelter millions of taxable dollars in Roth IRAs through shell corporations.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 15, 1999
In the latest installment of the strange saga of Carnegie International Corp., the Hunt Valley telecommunications holding company -- whose stock has been suspended from trading for nearly six months -- has swapped charges of bad faith with the accounting firm that it recently fired.In a Securities and Exchange Commission filing, Carnegie explained why it dropped its accountant, Grant Thornton LLP of Chicago.Carnegie, whose subsidiaries sell services ranging from Internet access to voice-recognition software, said its firing of Grant Thornton on Sept.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | May 24, 2000
Carnegie International Corp., a Hunt Valley telecommunications holding company, filed a lawsuit yesterday against its former accountant for $2.1 billion, alleging that the firm made errors and tried to cover them up. As a result, Carnegie was dropped from the exchange where its stock traded, lost hundreds of millions in market capitalization, and "lucrative commercial transactions," according to the lawsuit filed in Baltimore City Circuit Court....
BUSINESS
By NEW YORK TIMES NEWS SERVICE | November 11, 2003
In 1997, Congress gave retirement savers an attractive deal: Put after-tax dollars into a Roth IRA, and withdraw all future investment gains and contributions without ever paying another penny of tax. For some people, that is apparently not enough. They have sought to put in money on which they have never paid taxes, vastly exceed the annual contribution limit of up to $3,500 and reap much greater wealth. The Internal Revenue Service, as part of a crackdown on abusive tax shelters, has been pressing an action against one of the country's biggest accounting firms, Grant Thornton, to force it to disclose the names of clients it advised to shelter millions of taxable dollars in Roth IRAs through shell corporations.
BUSINESS
By David Conn | June 27, 1991
The Baltimore metropolitan area's economy deteriorated to its lowest level in four and a half years in the first quarter of 1991, according to a national accounting and consulting firm.Chicago-based Grant Thornton reported yesterday that its measure of seven economic indicators shows the area's economy declined at a faster pace during the first three months of the year than those of 18 other cities. Among the two dozen cities the firm tracks, only the economies in Washington, Phoenix, Boston, Philadelphia and Detroit declined more in the quarter than the Baltimore area's.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | September 18, 2003
In a new skirmish over tax shelters, the Internal Revenue Service yesterday asked a federal judge to require Grant Thornton, the fifth-largest American accounting firm, to turn over the names of people and companies who bought what the government suspects were abusive tax shelters. Grant Thornton said it was surprised by the court filing. The action, filed in federal District Court in Washington, is the sixth enforcement action the IRS has taken against a major accounting or law firm to uncover the identities of tax shelter buyers.
BUSINESS
March 28, 1991
The Baltimore area economy continued to slow in the 1990 fourth quarter, according to a study issued by Grant Thornton, a national accounting and management consulting firm with a local office.The Grant Thornton Index, consisting of seven equally weighted economic indicators, fell 0.65 points in Baltimore in the last three months of the year, hitting 108.7. This marked the fourth quarterly decline in the index for Baltimore since the end of 1989, when the index was at 110.5.The drop of 0.65 points was sharper than the drop of 0.23 in the third quarter.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | September 18, 2003
In a new skirmish over tax shelters, the Internal Revenue Service yesterday asked a federal judge to require Grant Thornton, the fifth-largest American accounting firm, to turn over the names of people and companies who bought what the government suspects were abusive tax shelters. Grant Thornton said it was surprised by the court filing. The action, filed in federal District Court in Washington, is the sixth enforcement action the IRS has taken against a major accounting or law firm to uncover the identities of tax shelter buyers.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | April 23, 2002
Arthur Andersen LLP is considering a range of business options including a bankruptcy filing and the sale of business units to smaller accounting firms, people close to the firm said yesterday. This would undermine hopes that an audit-only version of the firm might survive as a model for others in the industry. The Chicago firm is talking with another Chicago auditor, Grant Thornton LLP, an accounting and consulting firm that handles midlevel companies. The possible combination involves several hundred Andersen partners, Edward E. Nusbaum, Grant Thornton's chief executive, said yesterday.
BUSINESS
February 5, 2001
New positions Knott Group names Huott, Walton to executive posts The Knott Group Inc. named David M. Huott vice president of operations and Mary Elizabeth Walton director of marketing for the Baltimore-based general contractor. Huott is responsible for conceptual, design/build and competitive contract bids, facilitates field operations and supervises project management services. Walton is responsible for long-range business development, planning and new client identification, and for development of marketing materials and media relations.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | September 20, 2000
Carnegie International Corp. has agreed to pay $5.25 million in cash and warrants to settle shareholders' lawsuits filed after the company's earnings reports were questioned by government regulators. Carnegie, a telecommunications holding company based in Hunt Valley, will pay $2.25 million to the shareholders and offered $3 million in warrants for Carnegie stock that can be exercised at $3. Shareholders will also receive a 3 percent stake in the company's $2.1 billion lawsuit against its former accounting firm, Grant Thornton LLP. Carnegie filled its lawsuit in Baltimore City Circuit Court in May, accusing Grant Thornton of making errors that led the company to restate its earnings in 1998.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | May 24, 2000
Carnegie International Corp., a Hunt Valley telecommunications holding company, filed a lawsuit yesterday against its former accountant for $2.1 billion, alleging that the firm made errors and tried to cover them up. As a result, Carnegie was dropped from the exchange where its stock traded, lost hundreds of millions in market capitalization, and "lucrative commercial transactions," according to the lawsuit filed in Baltimore City Circuit Court....
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | October 15, 1999
In the latest installment of the strange saga of Carnegie International Corp., the Hunt Valley telecommunications holding company -- whose stock has been suspended from trading for nearly six months -- has swapped charges of bad faith with the accounting firm that it recently fired.In a Securities and Exchange Commission filing, Carnegie explained why it dropped its accountant, Grant Thornton LLP of Chicago.Carnegie, whose subsidiaries sell services ranging from Internet access to voice-recognition software, said its firing of Grant Thornton on Sept.
BUSINESS
By Ross Hetrick and Ross Hetrick,Evening Sun Staff | January 3, 1991
The worsening economy in Maryland was confirmed in a third-quarter report by Grant Thornton, a national accounting and management-consulting firm with a local office.The Grant Thornton Index, consisting of seven equally weighted economic indicators, declined 0.23 for Baltimore in the July-September period, hitting 109.1. For Washington, the index dropped 0.90 to 109.9. This is the third quarterly decline for Baltimore since the end of 1989, when the index was at 110.2.The index includes factory hours, nonfarm employment, construction permits, retail sales, business starts, business failures and money supply.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | March 26, 1992
The economies of both Baltimore and Washington deteriorated in the last three months of 1991, the second consecutive quarterly drop for both cities, according to the latest economic index prepared by Grant Thornton, an accounting firm.Baltimore was hurt by a drop in factory hours and decreasing construction permits, according to Morton D. Goldman, managing partner for Grant Thornton's Baltimore office. The Baltimore index, which had been at 108.4 three months earlier and 109 at the end of 1990, dropped to 107.7 at the end of last year.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | December 20, 1995
One of Baltimore's leading independent accounting firms has merged with the local office of Grant Thornton LLP, the nation's seventh biggest accounting group, officials at both firms said yesterday.Kamanitz Uhlfelder P.A., based in Pikesville, merged with Grant Thornton effective Dec. 1, partner Larry Kamanitz said. The firm had been in business for more than 30 years, and Mr. Kamanitz had gained prominence as president of the Maryland Association of Certified Public Accountants and chairman of the state panel that regulates the profession.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | March 26, 1992
The economies of both Baltimore and Washington deteriorated in the last three months of 1991, the second consecutive quarterly drop for both cities, according to the latest economic index prepared by Grant Thornton, an accounting firm.Baltimore was hurt by a drop in factory hours and decreasing construction permits, according to Morton D. Goldman, managing partner for Grant Thornton's Baltimore office. The Baltimore index, which had been at 108.4 three months earlier and 109 at the end of 1990, dropped to 107.7 at the end of last year.
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