July 10, 2012
The new organizers of the Baltimore Grand Prix said Tuesday they are prepared to lose money on the Labor Day weekend event, but pledged that no vendor or taxpayer would go unpaid. "My goal for this year is to stabilize the race," said J.P. Grant , the Columbia-based financier heading Race On LLC, which has a five-year contract to put on the city's IndyCar race. "If there's a hit, we take a hit. " The city terminated its contract with the group that put on last year's inaugural race, Baltimore Racing Development, after it failed to pay millions of dollars to vendors, the city and the state.
February 16, 2011
The $100 million venture capital fund at the center of Gov. Martin O'Malley's legislative agenda faced tough questions Wednesday from state lawmakers, who worried about the risk to taxpayer money. The Democratic governor took the unusual step of testifying personally before Senate and House committees in support of Invest Maryland, a fund that he says would help Maryland entrepreneurs across the so-called Valley of Death they face when trying to find seed money to start a business.
February 14, 2009
One benefit of living in a rich country is that we can pay psychologists and professors to explain why wealth doesn't make us very happy. It's true. Researchers have found that, once people can meet basic needs, psychological dividends from additional money steadily decrease. Making $100,000 does not make you twice as happy as $50,000. So why does losing money, and the prospect of losing money, make us so miserable? The short answer is that it doesn't have to. If you think about money in the context of what economics says about true fulfillment, having less of it shouldn't be quite so painful.
February 22, 2007
Among the many rationales used to defend the welfare state, the most powerful is that it is necessary in order to take care of the poor and the downtrodden. But the amount of money required to bring every poor person in the country above the official poverty line is a fraction of what is spent by government on the welfare state. Put bluntly, the poor are in effect being used as human shields in the political wars over government spending, which extends far beyond anyone who could plausibly be called poor.
July 10, 2005
BURLINGTON, Vt. - For this season, at least, Ray Pecor has dual baseball citizenship in the Baltimore-Washington region. The man whose family owns the ferry boats on Lake Champlain also owns the Ottawa Lynx, the Orioles' Triple-A franchise, and the Vermont Expos, the Nationals' Single-A team. "I'm the local boy who got lucky," said the gregarious 65-year-old with an infectious laugh. "Now, if both the Orioles and Nationals get to the World Series, I have a problem. I guess I'll have to root for the individual players."
September 23, 2004
He was just trying to contact a long-lost friend, but the process separated Hector Mendez of San Antonio from a chunk of cash and his Internet naivete. Mendez decided to look up his buddy using one of the dozens of for-fee people-finder services that are common on the Web. He had seen e-mail ads such as: "Locate old classmates, missing family members and loves of your past! Find anyone." After paying $30, Mendez realized that all he had purchased was a set of links to free public records open to all comers.