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BUSINESS
By a Baltimore Sun reporter | June 10, 2010
As global head of operations for Morgan Stanley, Stephen Daffron plans to travel this month to Mumbai, Shanghai and Tokyo. This week he came to Baltimore to get his first look at Morgan Stanley's new business services center in the $100 million Thames Street Wharf building overlooking the waterfront. During Thursday's wharfside dedication, Daffron told many of the company's 600 employees who work in the building that Morgan Stanley chose Baltimore because of the area's easy access to New York by train, the region's top colleges and universities, and a physical setting that can help the company attract and retain a talented work force.
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BUSINESS
By Natalie Sherman, The Baltimore Sun | December 17, 2013
The developer of Harbor Point has placed Thames Street Wharf, the Baltimore offices of Morgan Stanley, on the market. Morgan Stanley is the primary tenant in the 277,000 square-foot building, the first in the planned 27-acre Harbor Point development. The building opened in 2010 on 1.3 acres at 1300 Thames Street. The asking price was not disclosed. Beatty Development Group LLC is looking to recapitalize the debt and equity for the $100 million building and is using commercial real estate company CBRE to "generate interest," said Marco Greenberg, vice president at Beatty, in a statement.
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BUSINESS
By Edward Gunts, The Baltimore Sun | May 5, 2010
Financial services company Morgan Stanley began its move this week to a new building between Harbor East and Fells Point as part of a long-term plan to expand in Baltimore and create hundreds of new jobs in the city. The move also means that Baltimore's newest office building, called Thames Street Wharf, is getting its first tenants. The eight-level building on the former Allied Signal property is the first major office structure to open within the 27-acre Harbor Point parcel that's slated to become an $830 million commercial and residential community.
BUSINESS
By Yvonne Wenger, The Baltimore Sun | August 21, 2013
A decade-old loan forgiveness program with Morgan Stanley will move forward Wednesday after Baltimore's spending panel agreed to give the company more time to meet its job-creation goals. The Board of Estimates, controlled by Mayor Stephanie Rawlings-Blake, approved modifications to the plan without discussion. The city and the New York-based investment bank agreed in 2003 to expand an operations center in Baltimore based on economic development incentives. The city agreed to loan the company $3.25 million - half of which could be forgiven - on the condition that Morgan Stanley created 1,500 jobs by 2018.
EXPLORE
January 12, 2013
  Employees of the Westminster branch of Morgan Stanley donated 15 handmade fleece blankets to Carroll Hospital Center last month as a gesture designed to brighten the spirits of children in the hospital's care over the holidays. The blankets were made by staff members of two departments at Morgan Stanley - the Velnoskey Group and the DeRenzis Ford Group. Douglas Velnoskey, a senior vice president at Morgan Stanley in Westminster, and Coleen Kramer Beal, registered associate of the Velnoskey Group division at the company, made the presentation.
BUSINESS
By Yvonne Wenger, The Baltimore Sun | August 21, 2013
A decade-old loan forgiveness program with Morgan Stanley will move forward Wednesday after Baltimore's spending panel agreed to give the company more time to meet its job-creation goals. The Board of Estimates, controlled by Mayor Stephanie Rawlings-Blake, approved modifications to the plan without discussion. The city and the New York-based investment bank agreed in 2003 to expand an operations center in Baltimore based on economic development incentives. The city agreed to loan the company $3.25 million - half of which could be forgiven - on the condition that Morgan Stanley created 1,500 jobs by 2018.
BUSINESS
By New York Times News Service | May 31, 1995
Morgan Stanley & Co. said yesterday that it had paid a fine of 240,000 pounds, or $384,000, to British regulators because of a failure to conduct and supervise foreign-exchange business that led to $28 million in losses for its clients.Though small by American standards, the fine is the largest ever imposed by the Securities and Futures Authority, the regulator of London's investment markets, which monitors roughly 1,350 firms in Europe's biggest financial center. In addition, Morgan Stanley made a substantial, but undisclosed, payment to help cover the agency's costs.
NEWS
By Yvonne Wenger, The Baltimore Sun | August 20, 2013
In return for the promise to bring another 650 jobs to Baltimore, city leaders are poised on Wednesday to give financial services giant Morgan Stanley more time to meet the terms of a $3.25 million loan forgiveness program. The Board of Estimates vote comes amid public outcry over the city's plan to grant millions of dollars in aid to the $1.8 billion Harbor Point development, but some critics of that plan say the Morgan Stanley deal provides a proven return on investment. "We made an agreement to them in good faith.
BUSINESS
By New York Times News Service | December 9, 1994
The Morgan Stanley Group said yesterday that it was negotiating to buy S. G. Warburg & Co., the largest investment bank in Britain.The combined company would be the world's largest money manager for institutions and the seventh-largest money manager over all. The combination would rival Goldman, Sachs & Co. as the world's leading adviser for mergers and challenge Merrill Lynch as the biggest global underwriter of stocks.The deal is driven mainly by Warburg's desire to transform itself into a global investment banking powerhouse, a goal it has been denied so far because of its limited access to the U.S. market.
BUSINESS
October 11, 2008
NEW YORK - Morgan Stanley Inc. shares plunged more than 22 percent yesterday as investors questioned the investment bank's future even with a major investment from Japan's Mitsubishi UFJ Financial Group. Yesterday marked the fifth straight day that shares of the nation's second-largest investment bank have been pummeled. The latest round of selling was triggered on renewed fear that Morgan Stanley's credit ratings might be cut, a move that threatens earnings power. The potential for a downgrade heightens pressure on chief executive John Mack, who spent most of yesterday meeting with major investors to reassure them about the firm.
NEWS
By Yvonne Wenger, The Baltimore Sun | August 20, 2013
In return for the promise to bring another 650 jobs to Baltimore, city leaders are poised on Wednesday to give financial services giant Morgan Stanley more time to meet the terms of a $3.25 million loan forgiveness program. The Board of Estimates vote comes amid public outcry over the city's plan to grant millions of dollars in aid to the $1.8 billion Harbor Point development, but some critics of that plan say the Morgan Stanley deal provides a proven return on investment. "We made an agreement to them in good faith.
BUSINESS
By Steve Kilar, The Baltimore Sun | February 20, 2013
Shares of Baltimore's Millennial Media Inc. on Wednesday lost nearly 38 percent of their value, closing at $8.95. Fourth-quarter earnings announced Tuesday disappointed analysts and led to a sharp decline in after-hours trading. The stock closed Tuesday at $14.33 and opened Wednesday at $9.81. The mobile device advertising company reported it had a profit of 3 cents per share - $2.6 million in all - in the quarter ending Dec. 31, falling short of expectations. Projections for this year - the company said it expects revenue to range from $270 million to $280 million - also disappointed some analysts.
EXPLORE
January 12, 2013
  Employees of the Westminster branch of Morgan Stanley donated 15 handmade fleece blankets to Carroll Hospital Center last month as a gesture designed to brighten the spirits of children in the hospital's care over the holidays. The blankets were made by staff members of two departments at Morgan Stanley - the Velnoskey Group and the DeRenzis Ford Group. Douglas Velnoskey, a senior vice president at Morgan Stanley in Westminster, and Coleen Kramer Beal, registered associate of the Velnoskey Group division at the company, made the presentation.
EXPLORE
January 26, 2012
Dick and Brenda Horst, of Ellicott City, announce the engagement of their daughter, Megan Nicole Horst, to Timothy Gerald McCann, son of James and Lucille McCann, of Wappingers Falls, N.Y. The bride-to-be is a 2001 graduate of Centennial High School and a graduate of Syracuse University, where she received a dual Bachelor of Science in finance and marketing. She is currently employed by the Blackstone Group, in New York City. The future groom is a 2003 graduate of the University of Notre Dame, where he received a Bachelor of Business Administration in finance.
BUSINESS
By a Baltimore Sun reporter | June 10, 2010
As global head of operations for Morgan Stanley, Stephen Daffron plans to travel this month to Mumbai, Shanghai and Tokyo. This week he came to Baltimore to get his first look at Morgan Stanley's new business services center in the $100 million Thames Street Wharf building overlooking the waterfront. During Thursday's wharfside dedication, Daffron told many of the company's 600 employees who work in the building that Morgan Stanley chose Baltimore because of the area's easy access to New York by train, the region's top colleges and universities, and a physical setting that can help the company attract and retain a talented work force.
BUSINESS
By Edward Gunts, The Baltimore Sun | May 5, 2010
Financial services company Morgan Stanley began its move this week to a new building between Harbor East and Fells Point as part of a long-term plan to expand in Baltimore and create hundreds of new jobs in the city. The move also means that Baltimore's newest office building, called Thames Street Wharf, is getting its first tenants. The eight-level building on the former Allied Signal property is the first major office structure to open within the 27-acre Harbor Point parcel that's slated to become an $830 million commercial and residential community.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,lorraine.mirabella@baltsun.com | February 6, 2009
Morgan Stanley has requested the first part of a $1.5 million city loan to assist with the company's expansion in Baltimore, saying it will create the first third of an expected 900 new jobs in the city during the next three years, a Baltimore Development Corp. official said yesterday. Members of the city's Board of Estimates gave final approvals for the loan in December. The first $500,000 is tied to the creation of 300 jobs by December 2012 and is expected to go to Morgan Stanley in the next month, said Jeffrey Pillas, the BDC's chief financial officer.
BUSINESS
By Bloomberg News | April 11, 2007
NEW YORK -- Morgan Stanley's management got a vote of confidence yesterday, as shareholders of the world's second-largest securities firm approved a new employee stock incentive plan designed to help the company compete for talent with its Wall Street rivals. The plan was approved by 59 percent of the shareholders voting at the firm's annual meeting in Purchase, N.Y., according to a preliminary report of the auditor for elections. The 2007 Equity Incentive Compensation Plan replaces one that expired last year and will be valid for five years.
NEWS
By Dan Rodricks | October 11, 2009
Over the years, I've asked a lot of men about their fathers-in-law: whether they get along with them, whether they play a significant role in their lives. These conversations took place over a beer, or on a fishing trip, maybe at an Orioles game. I usually had to bring the subject up; in most cases, the guys I've known wouldn't do it themselves, or there just wasn't much to say. They had married the man's daughter, and that was about it. My friends and fishing companions were far more likely to talk about their own dads, not those of their wives.
BUSINESS
September 11, 2009
Cordish Co. sells stake in Kansas casino project Baltimore developer the Cordish Co. has agreed to sell its share of a proposed Hard Rock casino/entertainment project at a Kansas racetrack to Penn National Gaming Inc. to focus efforts on a proposed slots casino in Anne Arundel County. Cordish announced Thursday it is selling its 50 percent interest in Kansas Entertainment LLC, a partnership with the owner of Kansas Speedway in Kansas City, to Penn National for an undisclosed amount. A subsidiary of Penn National had been competing with Cordish for a Kansas gaming license at another location.
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