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NEWS
November 8, 2010
Eileen Ambrose's column Sunday about the implications of the recent election for investors doesn't start off very well ( "What a split Congress means for investors," Nov. 7). She says the four major issues are "the deficit, economy, Social Security and Medicare. " I'll grant her "the economy" but the other three are just the same tired old right-wing Republican shibboleths — non-issues if we got the economy right, really. (Well, genuine health care reform would have helped Medicare.
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NEWS
September 24, 2014
Thirty years ago, on its opening day in 1984, Donald Trump stood in a dark topcoat on the casino floor at Atlantic City's Trump Plaza, crowing that his new investment was the finest building in Atlantic City and possibly the nation. Last week, the Trump Plaza folded and the Trump Taj Mahal filed for bankruptcy, leaving some 1,000 employees without jobs. Mr. Trump, meanwhile, was on Twitter claiming he had "nothing to do with Atlantic City," and praising himself for his "great timing" in getting out of the investment.
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NEWS
May 21, 2013
In reference to the article, "BGE seeks rate increase on heels of last case" (May 17), BGE should be run like any other company. Every other company has to pass some of the cost to the stockholders, reducing quarterly earnings, for instance. I would like to own a company where I can say, "Well, I will just get more money from my customers and they have no say. " Since Gov. Martin O'Malley, House Speaker Michael Bush and Senate President Thomas V. Mike Miller are taking more money out of our pockets by passing a lot of new taxes, BGE must now think they can dip into our pockets.
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 Lorraine Mirabella, The Baltimore Sun | July 26, 2011
Legg Mason Inc. shareholders approved a $5.9 million pay package for Chairman and CEO Mark R. Fetting in an advisory vote announced Tuesday at the Baltimore-based company's annual meeting. The nonbinding "say on pay" measure won the support of 87 percent of voting stockholders. Shareholder guidance group Glass, Lewis & Co. had recommended that investors vote against the company's executive compensation package. The Glass, Lewis report criticized the firm's executive pay practices, saying the asset manager had paid top officers slightly more but performed slightly worse than its peers.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | December 31, 2011
If you had slept Rip Van Winkle-style through 2011, you'd be awakening now to find that your stock portfolio was much the same as you left it. Presuming you stayed awake, you endured a volatile year for equities. Market swings were so violent that by the third quarter many investors threw in the towel for a loss. Had they stuck it out, they would have found that stocks — despite all those gyrations — ended flat for the year. That's past. The new year is a good time to poll market analysts on their outlook and to find out if there are moves small investors should take — or avoid — in 2012.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 1, 2011
Vow to exercise more. Check. Pledge to volunteer for worthy causes. Done. Swear to get organized. Yep. Another New Year's resolution to keep: Examine your investment portfolio and consider what moves you might want to make in the months ahead. You could start by reflecting on your investment returns from 2010. In fact, if you have a diversified portfolio of stocks and bonds, you should be in for a pleasant surprise when year-end statements come in. "It was a good year, better than otherwise expected," says Joseph Battipaglia, a market strategist with Stifel Nicolaus in Pennsylvania.
BUSINESS
By Gail MarksJarvis and Tribune Newspapers | February 17, 2010
The 2000s were that type of decade for investors as the stock market showed its fickle ways, brutalizing investors in two bear markets, then turning sweet when a rally seemed hard to believe. Through it all, investors wrestled with choices: fleeing to safety, hunting for a mutual fund they thought they could trust or trying to recover from losses. Now, said Morningstar Inc. director of mutual fund research Russel Kinnel, it's clear there was a lot of churn that didn't take investors far. "People's market timing was very poor," he said.
NEWS
By Froma Harrop | June 25, 1998
CHAINSAW Al is gone, leaving many people who believed in him a lot poorer than they were before. Albert J. Dunlap was chairman of Sunbeam Corp. He belonged to the let's-crack-heads school of corporate management. During his stint at Sunbeam and before that at Scott Paper, he laid off at least 23,000 workers. Many American corporate executives have dismissed large numbers of employees, but what made Chainsaw special is that he did it all with great relish. Calling himself "Rambo in pinstripes," Mr. Dunlap tirelessly promoted his book, "Mean Business."
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 16, 2011
Municipal bonds traditionally have been a refuge for the risk-averse, as many are backed by the full faith and credit of state and local governments, but those same investors lately have been bailing out at a record rate. A few factors can be blamed for this sudden retreat, but the one making all the headlines is the fear that cash-strapped states and municipalities issuing the bonds will renege on promises to investors. Those simmering concerns were stoked last month when respected banking analyst Meredith Whitney warned on "60 Minutes" that 50 to 100 or so cities and counties will default on "hundreds of billions of dollars" of municipal bonds.
NEWS
By Elizabeth Littlefield | July 31, 2014
When President Barack Obama convenes nearly 50 African leaders in Washington next week for the U.S.-Africa Leaders Summit, the grand scale of the event could fill television screens for days. The real action, however, will be the behind-the-scenes, headlong rush by both Africans and Americans to capitalize on a new economic reality: Africa is on the move. And America's businesses and investors have just as many reasons to bring their business cards to the summit as Africans do. Casual political observers often focus on Africa's natural resources, mineral wealth and conflicts as a strategic concern, but Africa is a massive and rapidly growing consumer market that is more fully appreciated by strategic investors with each passing day. Africa's collective GDP surpassed that of Brazil and Russia six years ago, and it is estimated to be $2.6 trillion by 2020.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | July 1, 2014
More than 100 applicants are vying for $12 million worth of Maryland tax credits available to biotechnology investors in fiscal 2015, state economic development officials said. Applications for the Biotechnology Investment Incentive Tax Credit program were submitted online Tuesday to the state Department of Business and Economic Development. The program, first funded in fiscal 2007, has spurred investment of more than $120 million in 70 biotech firms, state officials said. Some Baltimore area companies that received investments last year include American Gene Technologies International, Animalgesic Laboratories, Cerecor Inc., Clear Guide Medical and Diagnostic Biochips.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 9, 2014
The investors buying 1st Mariner Bank said Monday that they've received the regulatory approvals they need and expect to close on the deal as soon as next week, turning the page on the Baltimore institution's most tumultuous chapter. The purchasers — who go by the name RKJS Bank — said they will put about $91 million in cash into the bank to recapitalize it, "significantly improving the strength of its balance sheet. " The Federal Deposit Insurance Corp. and Maryland's financial regulation agency both approved the transaction.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | May 6, 2014
Nothing could save Albert P. "Skip" Viragh Jr. from pancreatic cancer, but a $65 million gift from his foundation will help other patients suffering from that and other deadly cancers. The money will be used to help pay for construction of a patient care building at the Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins, the medical institution announced Tuesday. The new building will bear the name of Viragh, an innovative Maryland mutual fund investor who died from pancreatic cancer in 2003 at age 62 after receiving treatment at Johns Hopkins.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 15, 2014
In a surprising reversal, last week's losing bidder for 1st Mariner Bank got approval Tuesday to buy it — preserving the city's largest independent bank as a Baltimore-based institution. The group of investors, a mix of locals and out-of-state investment firms led by Priam Capital of New York, won over creditors with a last-minute offer to sweeten their deal. They agreed to pay about $17.7 million, $3 million of that up front as a deposit. That bid was roughly $4 million more than the value of competitor National Penn Bank's best offer.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 4, 2014
Legg Mason Inc. has agreed to acquire QS Investors, a New York-based investment firm with $4.1 billion in assets under management and nearly $100 billion in assets under advisory. Financial terms of the deal, announced Tuesday, were not disclosed. The Baltimore-based money management firm said it plans to integrate its Batterymarch Financial Management and Legg Mason Global Asset Allocation divisions over time into QS Investors. The deal, Legg CEO Joseph A. Sullivan said on a conference call with analysts, "is entirely in keeping with what I have said many times, namely that we intend to have fewer and larger affiliates to brand and to market.
BUSINESS
Eileen Ambrose | March 26, 2013
When it comes to generating income from investments, Americans' expectations for returns are significantly higher than what they are actually earning, according to a survey released this morning by Legg Mason Inc. “Our survey is telling us that income-oriented investors in the U.S. are coming up well short of their goals - almost 3 percent short - and that number could be significant especially for retired investors who need to live on the income their...
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 9, 2011
House beautiful, this isn't: The yard is overgrown, the windows are boarded up, there's a big gash in the first-floor ceiling and the roof has holes. Mark Whitten was delighted. The real estate investor, who looks for homes he can flip to landlords and rehabbers, figured he could immediately find a buyer for the vacant North Baltimore rowhouse, probably someone who would fix it up and rent it out. "I'm going to make an offer and try to get this property under contract today," Whitten, 29, said as he walked through the derelict home last week.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 15, 2014
Susan Aplin worked behind the scenes for two decades helping run some of the biggest retail stores around - Williams-Sonoma, Sports Authority, Staples, The Gap, Banana Republic, Old Navy and Pottery Barn. But it wasn't until she and friend Carolyn Wapnick took a vacation to Alaska's Prince William Sound that she found her true calling: retail with a cause. As a result of the trip, the duo founded bambeco, an online seller of sustainable home furnishings. Since 2009, the Baltimore-based retailer has grown from two employees to nearly two dozen and attracted more than $4 million worth of investment.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 10, 2014
The parent company of 1st Mariner Bank said Monday that it has signed a deal to sell the bank after years of regulatory demands that it increase its capital, potentially ending the company's long struggle to right itself after the mortgage crisis. A group of investors, many with local ties, have agreed to buy the Baltimore bank — the largest based in the region — and recapitalize it with about $100 million. First Mariner Bancorp, the parent company, said it filed for Chapter 11 bankruptcy protection Monday afternoon in Baltimore federal court to "facilitate the transaction.
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