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BUSINESS
By Gus G. Sentementes, The Baltimore Sun | June 1, 2010
Gov. Martin O'Malley proposed a tax credit plan Tuesday intended to spur investment in Maryland's technology and life sciences industries that could be worth up to $100 million. Under O'Malley's plan, the state would raise investment capital through auctioned tax credits to insurance companies in Maryland, which would purchase the breaks for redemption in 2015 or beyond, state officials said. O'Malley, who recently launched his re-election campaign for governor, unveiled his proposal while speaking before a crowd of business leaders at a technology conference in Rockville.
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BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,lorraine.mirabella@baltsun.com | March 4, 2009
A weak U.S. dollar and aggressive marketing of Maryland goods and services helped boost the state's exports to a record high of $11.4 billion last year, a 27 percent jump over 2007 and more than double the nation's 12 percent export growth rate, state officials said yesterday. About 5,000 companies in Maryland exported goods to 200 countries, with Canada, the top destination, receiving $1.5 billion in exports and Belgium, the Netherlands, Germany and the United Kingdom receiving $2 billion, the state Department of Business and Economic Development said.
BUSINESS
By Tricia Bishop and Tricia Bishop,Sun reporter | July 8, 2007
While Maryland's publicly traded biotechnology companies brought in $2.2 billion in revenue during their most recent full fiscal years, they lost an average of $21 million apiece - for a combined net loss of about $553 million. Many of the 26 reporting companies don't yet have products on the market and just five of them recorded profits. Yet their chief executives earned average annual cash compensation of $611,312, according to a Sun analysis of figures found in regulatory filings. Perks such as housing and transportation allowances were taken into account in the review, though stock options and awards were not because they don't represent cash - something most biotech companies don't have to spare.
BUSINESS
By Allison Connolly and Allison Connolly,Sun reporter | April 24, 2007
MedImmune is the only Maryland biotechnology company to develop a blockbuster drug, establishing itself among the upper tier of the industry. It also spread around its money and influence to help other Maryland companies get started. Through its venture capital arm, MedImmune Ventures Inc., the company has invested $152 million in 16 companies, three of which are in Maryland. A fourth company, Micromet Inc., is moving its U.S. headquarters to Bethesda this week from Carlsbad, Calif., because of its close relationship with MedImmune.
BUSINESS
By Jamie Smith Hopkins and Allison Connolly and Jamie Smith Hopkins and Allison Connolly,Sun reporters | September 10, 2006
A video game firm. A maker of collapsible tents. A provider of office space. Who would have thought, five years ago, that this hodgepodge of Maryland companies would be doing significant business in homeland security? The terrorist attacks of Sept. 11, 2001, changed not only the country but corporate America as well - particularly companies with offices near Washington. Maryland, always a big beneficiary of U.S. taxpayer money, has seen federal spending on goods and services soar. Federal contracting dollars in the state nearly doubled from fiscal 2001 to fiscal 2004, the most recent year for which Census Bureau figures are available.
BUSINESS
By ALLISON CONNOLLY and ALLISON CONNOLLY,SUN REPORTER | June 20, 2006
Each time Richard C. Brown arrives in Beijing, he looks up at the skyscrapers under construction with envy. The president of Grace Performance Chemicals, a division of W. R. Grace & Co. of Columbia, is trying to expand sales of the company's cement additive in China, a country with 1.3 billion consumers in the midst of a building boom. Lured by cheap skilled labor and seemingly infinite market opportunity, China is the modern day gold rush, and Grace is not the only Maryland prospector in one of the world's fastest- growing economies.
NEWS
By Annie Linskey and Annie Linskey,SUN STAFF | September 14, 2005
Borrowing an old expression, Rick Scriven says he is up to his "eyeballs in alligators." Two weeks ago he asked his bosses at Stevensville-based Zodiac of North America to send five employees and 20 boats to Louisiana to help with Hurricane Katrina rescue efforts. "We realized that the largest water rescue in the history of our country was going on and we wanted to help," he said. "It was just eating at my heartstrings seeing the flooding, and [rescuers] didn't have the right equipment."
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | July 27, 2005
Maryland ranked 12th among the 50 states for venture-funding deals in the second quarter, with 26 companies receiving a total of $66.1 million in financing, according to an industry report released yesterday. That's about two-thirds more than the $39.9 million in venture capital funding that 14 Maryland companies received during this year's first quarter, when the state ranked 17th nationally. And it's better than the second quarter last year, when the state also ranked 17th, said the MoneyTree Survey, released jointly by PricewaterhouseCoopers, the National Venture Capital Association and Thomson Venture Economics.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | May 15, 2005
Executives and board members at some of Maryland's most profitable companies have lucrative side arrangements with the companies they run and oversee. Edwin F. Hale Sr., the chairman, chief executive and largest stockholder at First Mariner Bancorp, owned the bank's headquarters building in Canton until selling it to his bank earlier this year for $20 million. Sinclair Broadcast Group Inc., which is controlled by four brothers who own most of the common stock, leases aircraft owned by two of the siblings, David D. Smith and Frederick G. Smith.
ENTERTAINMENT
By Arthur Hirsch and Arthur Hirsch,SUN STAFF | March 13, 2005
Louis S. "Shorty" Levin said later that he sensed something odd when his shipwrecking company sold that rundown troop carrier shortly after World War II. He and his older brother, George, sold scrap metal in Charles County, but the men in New York interested in this particular ship talked about carrying passengers, as the ship had before the war when it steamed the Old Bay Line route from Baltimore to Norfolk, Va. Indeed the deal turned out quite unlike...
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