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BUSINESS
December 27, 1991
This Hyattsville-based thrift reported yesterday that its earnings, boosted by lower interest rates, reached a record level in its third quarter.The 104-year-old mortgage lender, which owns Maryland Federal Savings and Loan Association, said it earned nearly $1.7 million, or 59 cents a share, in the quarter, which ended Nov. 30. In the corresponding part of last year, Maryland Federal earned $998,000, or 33 cents a share.Robert H. Halleck, president of Maryland Federal, attributed the 69 percent rise in earnings to "a tremendous boost" the thrift received from the drop in rates and the "excellent quality" of the thrift's mortgage loans.
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NEWS
By Liz Bowie and By Liz Bowie | August 13, 2014
Low-income students in Maryland who decide to take the Advanced Placement or International Baccalaureate tests will get some subsidies from the federal government to help cover some of the cost. The federal government announced Tuesday that it is awarding Maryland a $635,000 grant to help pay for the tests. Maryland was one of more than 40 states to receive funding totaling $28.4 million. The Advanced Placement tests now cost $89 a test, and some students will take more than one test.
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NEWS
By Gail Gibson and Gail Gibson,SUN STAFF | May 1, 2003
Prominent Baltimore defense attorney Richard D. Bennett, who has served as Maryland's chief federal prosecutor and headed the state's Republican Party, is scheduled to be sworn in today as the state's newest federal judge. Bennett's appointment is the latest in a series of changes to Maryland's federal bench. Former Baltimore Circuit Judge William D. Quarles was sworn in in March and has begun overseeing criminal and civil cases in U.S. District Court in Baltimore. Another judicial vacancy is expected next month, when U.S. District Judge Marvin J. Garbis, 66, retires to senior status after more than 13 years as a federal judge.
NEWS
By Liz Bowie and By Liz Bowie | February 14, 2014
Maryland was given a waiver from the U.S. Department of Education on Friday that will allow them to avoid double testing several thousand students who are piloting a new test this spring that is tied to the Common Core. Under federal law, all students in grades three through eight are to be tested annually in math and reading. The federal government is allowing that law to be waived for the students who take the pilot test, meaning they will not also have to take Maryland's state assessments.
BUSINESS
October 4, 1990
Maryland Federal BancorpThis Hyattsville holding company, the owner of Maryland Federal Savings and Loan Association, said yesterday that its earnings increased nearly 65 percent, to $910,000, or 30 cents a share, for the three months that ended Aug. 31. That compared with income of $552,000, or 18 cents a share, for the same period last year.Maryland Federal credited a relatively stable demand for residential mortgage loans and a moderation in the cost of its funds for the strong growth.
BUSINESS
April 14, 1992
Life Technologies Inc.Life Technologies Inc., a Gaithersburg-based company that makes products used in life sciences research, credited a boost in sales to drug and biotechnology companies for an 11 percent increase in revenue to $48.7 million in quarter that ended March 31.Income fell by 5 percent in the first quarter after the company distributed a $3.50 per share dividend to stockholders in March 1991.Three months ended 3/31/92.. .. .. .. Revenue .. .. .. Net .. .. .. Share'92.. .. .48,649,000.
BUSINESS
September 22, 1994
Fast food acquisitionTriarc Cos., owner of the Arby's roast-beef chain, agreed to acquire Long John Silver's Restaurants Inc. for $525 million, forming the nation's 10th-biggest restaurant company.The combination of Arby's Inc. and Long John Silver's would have 4,200 restaurants and $2.7 billion in annual sales.Triarc, controlled by New York investor Nelson Peltz, will finance the acquisition through a bond issue, said a company spokesman. The purchase of Lexington, Ky.-based Long John, controlled by CS First Boston Securities Corp.
BUSINESS
October 2, 1992
Weaker economy indicatedThe pace of industry, employment and commercial construction all showed dismal performances at the end of summer as the economy apparently weakened, figures released yesterday indicate.The National Association of Purchasing Managers index of manufacturing activity dipped back into recession territory in September. The number of Americans filing first-time claims for unemployment benefits rose for a fifth straight week, and commercial construction activity plunged to the lowest level in eight years.
BUSINESS
February 19, 1994
Treasury Dept. bars 3 S&LsThe Treasury Department announced late yesterday that it had barred three savings and loans in New Jersey and one in Ohio from changing their charters, saying the institutions had not lent enough money to poor people and minority groups.The Treasury Department's Office of Thrift Supervision took the action under the Community Reinvestment Act. The Reagan and Bush administrations paid relatively little attention to the act, which bankers criticize as interference in their lending decisions.
BUSINESS
January 10, 1995
Wal-Mart wins suit on pricesWal-Mart Stores Inc. won an Arkansas court victory yesterday in a case charging the nation's largest retailer with engaging in predatory pricing.In a 4-3 decision, the Arkansas Supreme Court dismissed a 1993 ruling that Wal-Mart's pricing policies were intended to drive competitors from the marketplace. In the suit, three Arkansas druggists argued that Wal-Mart was pricing items below cost in an effort to force them out of business.Patent victory short-livedA federal court yesterday threw out a patent for a navigation and guidance device held by Litton Systems Inc., nullifying a $1.2 billion jury award that Litton had won from Honeywell Inc.The ruling by U.S. District Judge Mariana Pfaelzer reversed the jury decision, which found Honeywell had infringed on the patent.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | October 19, 2013
Though the federal government shutdown ended last week, the economic impact is likely to be felt in Maryland for months, dimming prospects for a robust holiday shopping season. With Congress funding the government only through Jan. 15 - raising the specter of another shutdown - some federal workers in Maryland plan to limit their holiday spending. Stores are bracing for more frugal customers. And financial experts are urging federal workers to start saving immediately. "To move the economy forward, we need a strong consumer.
HEALTH
By Scott Dance, The Baltimore Sun | May 8, 2013
State health officials don't know how often Marylanders use medications mixed in facilities lacking safety oversight, like a Massachusetts facility linked to three deaths here, but a newly passed law could tell them — and help demonstrate a gap in federal regulation. Batches of sterile drugs from so-called compounding pharmacies will be subject to state review under the measure Gov. Martin O'Malley signed this month. And pharmacists and doctors who perform compounding, in which drugs are somehow altered from their Food and Drug Administration-approved form, will face an extra layer of permits and inspections for drugs used in Maryland.
NEWS
By Justin Fenton, The Baltimore Sun | September 19, 2012
A former Maryland assistant U.S. attorney resigned today in the wake of an internal watchdog report on the ATF's botched gun operation known as "Fast and Furious. " The U.S. Justice Department's Inspector General on Wednesday referred 14 employees, including Jason Weinstein, a senior aide to Lanny Breuer and former federal prosecutor in Baltimore, for possible internal discipline. Read the report from Reuters here . After the news broke, Weinstein's attorneys sent out several documents that they say refute the Inspector General's findings.  Read Weinstein's resignation letter here.  A " fact sheet " that Weinstein says "identifies the most egregious inaccuracies" in the report.  A letter on Weinstein's legacy from retired Baltimore Police Commissioner Frederick H. Bealefeld III.  “It is a horribly sad day for this country when a professional who has dedicated his life to law enforcement and the rule of law falls victim to criticism that is so profoundly wrong and so deeply flawed," his attorney, former Inspector General Michael R. Bromwich, said in a statement.
BUSINESS
By Jay Hancock | August 1, 2011
Like a sheep contemplating the barbershop, Maryland can draw some consolation from the Washington deal that reverses a decade-long bonanza of federal spending. Federal trimming was going to happen sooner or later. Now the state that relies on Washington to power a third of its economy gets a small glimpse of how it might work. Much of the pain is postponed. The biggest cuts won't come for years. At the same time, Maryland has avoided the shock that would have come with default.
NEWS
By Jonathan Pitts, The Baltimore Sun | July 18, 2010
Fishing line. A syringe. Gum wrappers, a dart board and the handle of a leather suitcase. They're not the scraps some lonely scavenger dug up at the Millersville landfill. To more than 80 artists, they mean what bronze meant to Degas, oils to Monet and Picasso. Life's rubbish is the stuff of the latest show at the Maryland Federation of Art in Annapolis, a national juried exhibition called "Eye of the Beholder: The Art of the Found Object" that opened this week and continues through Aug. 15. It's the first time the MFA, a nonprofit organization with more than 400 members, has officially exhibited found art, a genre that sparked controversy as far back as 1913, when French-born visionary Marcel Duchamp got tongues wagging by presenting a urinal as a work of art. Such pieces forced a reassessment of what "art" is and paved the way for Dadaism in the 1920s, Surrealism in the 1930s, not to mention what is now called found art — art, broadly speaking, that incorporates at least one worldly object.
SPORTS
By Candus Thomson, The Baltimore Sun | June 26, 2010
With packing boxes and invoices everywhere, Bob Bealle's studio hardly resembles the place where he created the oil painting that graces this year's Federal Duck Stamp. "It looks like a factory. I don't have a place for my easel," said Bealle, a Waldorf farmer and former taxidermist. "I don't have time to get too excited. I'm too tired." Then he laughs. When you've dreamed about something for nearly three decades and had your heart broken a half-dozen times, you're allowed to be a little giddy.
BUSINESS
January 7, 1994
GM says it earned profit in 1993General Motors Corp.'s chief executive, John Smith, said yesterday that the automaker earned its first profit in four years in 1993, and he said he expects an even stronger year in 1994.Mr. Smith declined to say how much GM earned last year, but through the first nine months of the year, the automaker had a profit of $1.3 billion, virtually assuring it would end the year in the black for the first time since 1989, when it earned $4.2 billion.Pension underfunding widensThe gap between promised pensions and the money available to pay them in companies with underfunded plans soared to $53 billion in 1992, a shortfall that eventually could jeopardize the retirements of millions of Americans.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 3, 2010
State agencies in Maryland received $9.3 billion in federal grants this fiscal year, up 19 percent from a year earlier as stimulus money flowed from Washington, the Governor's Grants Office said Thursday. It said it expects the state will receive about the same amount of grant money next fiscal year — which starts July 1 — as it has this year. Almost 70 of the 510 grants are funded by stimulus money. jamie.smith.hopkins@baltsun.com http://twitter.com/realestatewonk
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