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SPORTS
By Tom Keyser and Tom Keyser,SUN STAFF | March 31, 2001
The Maryland Racing Commission gave preliminary approval yesterday to a bid by William Rickman Jr. to build a horse track in Western Maryland, acting after the Maryland Jockey Club agreed to drop its opposition. Rickman, owner of Delaware Park and Ocean Downs, presented the commission with a $20 million line of credit for Allegany Racing Association, the entity composed of Rickman and his father, William Rickman, that proposes to construct the track in eastern Allegany County. Representatives of the Maryland Jockey Club stopped fighting the proposal after Rickman secured the line of credit from the Wilmington Trust Co. in Delaware.
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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.
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.
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.
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.
NEWS
By Bill Atkinson and Gary Cohn and Bill Atkinson and Gary Cohn,SUN STAFF | April 22, 1996
Everything was collapsing around him, and Robert Merrick knew it."We have a major problem," Mr. Merrick, senior credit manager of Signet Banking Corp., advised his hushed colleagues in the bank's Richmond, Va., headquarters. "The Nelco deal is a fraud."The prospect of bank fraud on such a huge scale was so devastating that some chose not to believe him -- holding out faint hope that everything would still work out.But those hopes evaporated 24 hours later, on Tuesday, March 19, as details of one of the largest frauds in U.S. banking history began to unfold.
NEWS
By Andrew Reiner | July 4, 2013
If the name of any Founding Father crosses our minds on the Fourth of July, it's probably not John Adams'. The second U.S. president rarely gets mentioned alongside Thomas Jefferson, George Washington and Benjamin Franklin, the founders we associate with Independence Day . Adams? He was the surly, vainglorious brains behind the scenes who was (as the White House's website suggests) "more remarkable as a political philosopher" than as a leader. Amid the Olympian fireworks of the Founding Fathers, Adams was more of a sparkler.
BUSINESS
Eileen Ambrose | October 8, 2013
As the government shutdown continues, credit unions whose members are federal workers offering low-rate loans and other assistance. Here is just a sampling, but check out your credit union if you need money to tied you offer while your paycheck is delayed because of politics: The National Institutes of Health FCU for instance is offering a 0% introductory rate for the first 60 days on a line of credit of up to $10,000. The rate goes up for the next 12 months, from 1.99% to 4.99 percent.
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