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BUSINESS
March 10, 1992
PITTSBURGH -- Westinghouse Electric Corp. Chairman Paul E. Lego has had his salary cut by $1 million in the wake of a $1.1 billion loss by the company.According to proxy materials being distributed to shareholders, directors slashed Mr. Lego's pay to $677,083 from the $1.68 million he earned in 1990. Mr. Lego has been given financial incentives to improve Westinghouse's performance. The electronics giant is Maryland's largest private employer.Among the incentives is $1.1 million for meeting unspecified goals during a three-year period ending in 1993.
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SPORTS
The Baltimore Sun | October 11, 2014
Although this year's American League Championship Series represents the two smallest market sizes in history, according to TBS, the Game 1 matchup Friday averaged 5.92 million total viewers for the network. The total represented an increase of 9 percent from the National League Championship Series Game 1 telecast between the Los Angeles Dodgers and the St. Louis Cardinals on TBS last year, the network said Saturday. That game averaged 5.45 million total viewers, according to TBS. The market sizes for Kansas City and Baltimore are 70 percent smaller than the market sizes for Los Angeles and St. Louis, based on available television households, according to TBS. In 2013, the number was 6.75 million, compared to 2.015 million this year.
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NEWS
By BARRY RASCOVAR and BARRY RASCOVAR,Barry Rascovar is deputy editor of the editorial pages of The Sun | February 10, 1991
WE'RE IN A RECESSION. The governor can't keep up with th constantly declining revenue estimates. More cutbacks are certain. Legislators intend to chop additional sums from the governor's fiscal program.Yet one part of the budget reads like a "Happy Days Are Here Again" refrain. The capital budget looks as fat and happy as in prior years, when economic forecasts were rosy. The governor is seeking $815 million in construction funds, only slightly less than last year.There's money for garages, renovations, art for public buildings, a college swimming pool, state park comfort stations, new prison gatehouses, new college racquetball courts and other dubious spending.
SPORTS
Sports Digest | October 11, 2014
Laurel Park Ben's Cat could be first to win 4 Md. Million races Ben's Cat has a chance next Saturday at Laurel Park to become the first horse to win Jim McKay Maryland Million races in four different years. After victories in 2010, 2011 and 2012 in the Turf Sprint, the King Leatherbury homebred finished second in the Turf a year ago after the Turf Sprint was eliminated. Leatherbury has cross-entered his star in the Sprint and Turf. The 8-year-old has won 27 of 43 starts, with earnings of $2,175,990.
NEWS
February 12, 1991
The Orioles avoided arbitration today with newly acquired Glenn Davis, signing him to a club record $3.275 million contract for 1991.Davis made $1.985 million last year and had asked for $3.65 million, while the Orioles offered $2.9 million. The figures represented the highest ever submitted for arbitration by a team and a player. Davis' salary puts him ahead of Cal Ripken, who will draw $2.3 million in the last year of his contract.
NEWS
By Ross Peddicord and Ross Peddicord,Evening Sun Staff | March 21, 1991
In 1990, nearly a quarter of a billion dollars was bet at Pimlico Race Course.What happens to all this money?Of the $234,071,757 wagered, about 80 percent, or $187,532,497, was returned to the fans who made winning bets.That left $46.5 million that was split nearly 50-50 between the track and the horsemen.Of that $46.5 million, about half, or $23.9 million, went into purses -- the prize money that goes to the winning horses.The track ended up with $20.7 million after state taxes, contributions to the Breeders' Fund and to the track employees' pension fund were subtracted.
BUSINESS
By Ross Hetrick and Ross Hetrick,Evening Sun Staff | January 30, 1991
Armco Inc., the Parsippany, N.J.-based stainless steelmaker with an operation in Baltimore, lost $8.5 million in the fourth quarter, or 12 cents a share, compared to a profit of $15.5 million, or 15 cents a share, in the 1989 fourth quarter.Sales during the fourth quarter were $414 million, a 5.3 percent drop from the previous fourth quarter when sales were $416.2 million.For the year, the company lost $89.5 million, or $1.10 per share, compared to a net income of $165 million, or $1.78 per share, for 1989.
SPORTS
By Vito Stellino | December 12, 1990
Joe Montana's paycheck finally is matching his accomplishments.The four-time Super Bowl quarterback of the San Francisco 49ers, who was the National Football League's fifth-highest-paid player in 1989, vaulted into first place this year when he became the first player in league history to average more than $3 million.According to the annual salary survey conducted by the NFL Players Association, Montana signed a four-year, $13 million contract this year, averaging $3.25 million. This year, Montana also became the first player to earn $4 million in base salary.
BUSINESS
By John Fairhall and John Fairhall,Sun Staff Writer | November 16, 1994
Proclaiming success in controlling patient costs, Blue Cross and Blue Shield of Maryland yesterday reported a profit of $15.9 million for the third quarter of 1994, a 279 percent increase over the same period last year.Revenues for the period that ended Sept. 30 were $463 million, a 5.7 percent decrease that company officials attribute partly to rate cuts this summer. "It's something we're certainly focusing on," said Controller Gary C. Baker.Profits for the third quarter included $12.2 million from the company's traditional indemnity insurance business and $3.7 million from its five HMOs.
BUSINESS
By Andrew Ratner and Andrew Ratner,SUN STAFF | February 7, 2001
Aether Systems Inc. said yesterday that it posted a sixfold increase in revenue for the fourth quarter and a narrower loss than expected. Analysts reacted positively to the earnings report from the Owings Mills provider of wireless data products and services. Aether reported a net operating loss of $35.2 million, or 90 cents a share for the quarter that ended Dec. 31, compared with a loss of $4.6 million, or 18 cents a share, in the fourth quarter of 1999, excluding special items. Special items included the amortization of intangibles and other noncash items relating to acquisitions, the company's share of losses in joint ventures and non-cash expenses relating to options and warrants.
NEWS
By Joe Burris and The Baltimore Sun | October 7, 2014
Coppin State University suffered a $2.5 million revenue shortfall this fall because of a drop in enrollment, and school officials said Tuesday that the deficit is being offset with cuts to the administration and other cost-saving measures rather than tuition increases. Coppin State spokeswoman Tiffany Jones said Tuesday that the school enrolled 3,133 students this fall, 250 less than a year ago. Tuition, plus fees, for in-state students is about $6,000. To offset part of the shortfall, a school vice president and an assistant vice president have been let go, Jones said.
ENTERTAINMENT
By David Zurawik and The Baltimore Sun | October 3, 2014
An average audience of 4 million watched the Orioles beat the Detroit Tigers 12-3 on cable channel TBS Thursday night. That was up by 54 percent over the audience for a comparable league division series last year. The audience peaked at 5.4 million from 8:15 to 8:30 p.m., according to Nielsen figures supplied by TBS. About 17 percent of homes in Baltimore's cable TV universe were tuned to the game compared with 16 percent in Detroit. #sigshell { float: left; width: 320px; height: 52px; margin: 20px 0px; display: block; }
BUSINESS
By Natalie Sherman | October 3, 2014
A Florida business bought the Belair Edison Crossing shopping center for $12.3 million this week, a deal that suggests strength in the city's retail investor market, the broker for the transaction said Thursday. “It's a significantly sized deal in Baltimore City,” said Gil Neuman, managing director of Greysteel Co. “I think there's a new sort of … revival, so to speak, of Baltimore, which is being seen nationally as a desirable place to invest.” The 16-acre Belair Road property last sold in 2003 for $4.7 million, according to reports at the time.
BUSINESS
By Lorraine Mirabella and The Baltimore Sun | October 2, 2014
Under Armour plans to build its third U.S. distribution center in a suburb of Nashville, the Baltimore-based sports apparel maker said Thursday. The 1 million-square-foot-warehouse, a more than $100 million investment for the sports brand, will be built in Mount Juliet, Tenn., and will open in early 2016, the company said. Under Armour also has distribution centers in Baltimore and Rialto, Calif. The Tennessee warehouse will employ 1,500 workers over the next five years. The company operates two Under Armour Factory House retail stores in the state, in Nashville and Sevierville.
NEWS
By Kevin Rector and The Baltimore Sun | October 2, 2014
More than two dozen West Baltimore homeowners are suing the state of Maryland to block the planned Red Line transit project from tunneling beneath their block, contending that they were inappropriately left out of the planning process. They seek more than $22 million in damages for lost property value and emotional distress. "Right now, they've lost so much of the value of their homes," said Lewyn Scott Garrett, one of three attorneys representing the 25 homeowners in the 300 block of N. Fremont Ave. in the city's Poppleton neighborhood.
NEWS
By Colin Campbell and The Baltimore Sun | October 1, 2014
U.S. Attorney General Eric Holder will visit Baltimore Wednesday night to announce $63 million in federal grants awarded to study school safety to reduce gun violence across the nation. Baltimore County Public Schools and the University of Maryland, Baltimore will receive nearly $2 million of that money to focus research on students with emotional and behavioral health issues, according to the National Institute of Justice. Holder will also announce the expansion of the National Forum on Youth Violence Prevention to Baltimore; Long Beach, Calif.; Louisville, Ky.; and Seattle.
BUSINESS
June 14, 1997
Maryland's Venture Capital Trust, the state's tool for placing government money in venture capital partnerships, invested about $3.6 million last year and now has invested a total of $15.8 million.The trust bought shares in eight limited partnerships committed to investing in businesses in Maryland. Through the end of last year, the venture funds had put $50.6 million into 29 emerging Maryland companies.Venture Capital Trust still has more than $3 million to invest. It has been financed for several years with $19.1 million in commitments: $2 million from the state's general fund; $15 million from the Maryland Retirement and Pension System; $1.26 million from the Baltimore Fire and Police Employees Retirement System; and $840,000 from the Baltimore Employees Retirement System.
BUSINESS
BY A SUN STAFF WRITER | August 16, 2000
Consumers spent $586.7 million on taxable entertainment in Maryland during fiscal year 2000 - a 12 percent increase over the previous year - state Comptroller William Donald Schaefer announced yesterday. "It comes as no surprise that consumer confidence has been high this year, given the red-hot economy we've been enjoying," Schaefer said. Maryland's 23 counties, 160 incorporated cities and towns and the Maryland Stadium Authority will receive individual payments totaling $15.5 million for their share of tax receipts collected for the fourth quarter of fiscal year 2000, which ended June 30. The current distribution is 14.7 percent higher than the $13.5 million returned to local governments during the fourth quarter of the previous fiscal year.
NEWS
By John Fritze and The Baltimore Sun | September 30, 2014
Maryland has won a five-year, $650 million federal grant that will give officials more flexibility to run the state's foster care program and reduce the number of children entering the system, Gov. Martin O'Malley's administration said Tuesday. The U.S. Department of Health and Human Services grant, which has been awarded to about 20 states so far, will allow Maryland to expand programs that help struggling families to avoid having their children turned over to foster care, state officials said.
NEWS
By Jean Marbella and The Baltimore Sun | September 26, 2014
A Japanese shipping line will pay a nearly $70 million fine after agreeing to plead guilty to fixing prices and rigging bids for services at the port of Baltimore, the Justice Department said Friday. Kawasaki Kisen Kaisha Ltd., or K-Line, is the latest ocean carrier charged in a massive antitrust investigation of companies that federal officials say have conspired to drive up international shipping prices. K-Line, which was charged in U.S. District Court in Baltimore on Friday, provides shipping services for roll-on, roll-off cargo — including cars, trucks and construction equipment — to and from the U.S. and elsewhere.
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