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Line Of Credit

BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | October 7, 2000
One-hundred-seven days after it filed for bankruptcy reorganization, troubled Creditrust Corp. said that it has agreed to merge the company into a subsidiary of NCO Group Inc., one of the world's largest bill collectors. Under the deal announced late Thursday, Creditrust, which collects and manages delinquent Visa and MasterCard accounts, will merge into NCO Portfolio Management Inc., a newly formed company that is in the same business. Creditrust shareholders will receive $17 million to $20 million in stock, which would represent a 40 percent to 45 percent ownership stake in the new, publicly traded company.
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BUSINESS
By Paul Adams and Paul Adams,SUN STAFF | March 6, 2003
Royal Ahold NV pledged Giant Food Inc. and several other U.S. and Dutch grocery store chains as collateral to secure a critical line of credit from bankers, who remain skeptical of the company's finances in the wake of a $500 million accounting scandal at its Columbia-based U.S. Foodservice unit. In addition to Landover-based Giant, terms of the $2.91 billion credit agreement give the banks liens on two other Ahold grocery chains in the United States: Stop & Shop Supermarket Co. in Quincy, Mass.
SPORTS
By Rick Belz and Rick Belz,SUN STAFF | October 6, 2000
Linemen usually garner little recognition. Centennial's Wyatt Cooper is an exception. As the Eagles (3-1 overall, 3-0 league), who are tied for first place with Oakland Mills and Wilde Lake, continue to play beyond expectations, Cooper is a major reason why. The 6-foot-2, 225-pound senior offensive guard and defensive tackle played his most significant game on Sept. 29 in a 28-21 upset of previously unbeaten Long Reach, a team that had outscored Centennial, 86-2, over the past three seasons.
NEWS
By Justin Fenton, Ian Duncan and Kevin Rector, The Baltimore Sun | May 11, 2013
In the black market of Maryland's prisons and jails, where the right price can secure cellphones and drugs, transactions unfold through a complex system of currency. Among the key elements: 14-digit codes, prepaid debit cards and text messages. One brand of cards - Green Dot - is so ubiquitous that it has become part of the lexicon on the inside. The recent federal indictment of two dozen inmates and corrections officers in an alleged Black Guerrilla Family corruption scandal at the Baltimore City Detention Center notes several instances in which suspects refer to "dots" in transactions.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | December 19, 2011
Several Baltimore-area homeowners are suing the largest residential real estate team in the state, alleging a "scheme of fraud and misrepresentations" involving home purchases, sales and financing. The suit, a proposed class action, names the Creig Northrop Team, Long & Foster and several mortgage firms — including Long & Foster's Prosperity Mortgage Co. — as defendants. A similar lawsuit brought against the Northrop team by a Howard County couple was settled in March.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | July 5, 1992
Just a year after the elite Caves Valley Golf Club opened to acclaim on 900 prime acres near Owings Mills, its directors -- members of Baltimore's corporate leadership -- are refinancing the club's debts, buying time to develop a long-term solution to its financial pressures.The refinancing became necessary after the revenue assumptions behind the $40 million project, which was conceived as an economic-development "magnet" to attract businesses to Baltimore, were turned upside down by the recession and problems developed in selling luxury home lots priced at an average of $500,000.
BUSINESS
By John Fritze, The Baltimore Sun | August 15, 2014
When developing countries need to deepen a canal for irrigation or navigation, they frequently call on Ellicott Dredges, a 129-year-old Baltimore-based maker of dredging equipment. To sell their massive, multimillion-dollar machines abroad, Ellicott Dredges often turns to the U.S. Export-Import Bank — an obscure federal agency that facilitated more than $37 billion in exports last year. The 80-year-old bank, a New Deal-era institution that provides loans and credit guarantees, is now at the center of a debate between conservative Republicans and the rest of Congress.
NEWS
By Jonathan Pitts, The Baltimore Sun | May 25, 2014
He'd been leader of a New Jersey social justice organization since 2008, making inroads on housing and employment issues, when Cornell Brooks, a soft-spoken lawyer and minister, got an opportunity he didn't see coming. The NAACP, a national organization based in Northwest Baltimore, was looking for a new president. A search committee wanted to talk. He had to decide whether to seek the job as successor to the charming, sometimes controversial Ben Jealous.  A friend remembers telling the 53-year-old Brooks that it might be hard to handle the competing factions within the National Association for the Advancement of Colored People, which has a famously unwieldy 64-person board, hundreds of local branches and periodic financial problems.
BUSINESS
By Scott Dance, The Baltimore Sun | August 7, 2013
Severna Park company Dynasplint Systems Inc. laid off 500 employees, including about 250 in Maryland, on Tuesday after its lender moved to foreclose on its property, including cash that was to cover payroll. In a letter to laid-off employees obtained by The Baltimore Sun, company President George Hepburn wrote that a local bank put about $1 million that the company had deposited since Aug. 1 toward a $9 million line of credit owed, instead of employee paychecks. Hepburn said he had to cut the company's work force by 70 percent as a result.
NEWS
By Peter Hermann, The Baltimore Sun | October 15, 2011
For five years, Adrienne Miranda has been on a crusade to prove that the death of her son - crushed under a Bobcat earthmover while on the job, his body face-down in the dirt under a hot summer sun - was no accident. The mother from Lutherville has made claims of shoddy detective work and has alleged a sweeping coverup by authorities who don't believe a crime was committed against her 19-year-old son, Joseph A. Miranda. She has irritated and at times angered a cadre of police, prosecutors and bureaucrats.
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