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By Tim Swift, The Baltimore Sun   | January 9, 2014
Uber -- the company that allows users to hail a car via a smartphone app -- is drastically cutting prices in several markets including Baltimore.  The price changes run as much as a 20 percent discount, but Baltimore riders will see a six percent drop. A mininum fare for Baltimore is now $4.60 down from $5.   With this cut, Uber spokeswoman Nairi Hourdajian said that uberX in Baltimore becomes up to 18 percent cheaper than a traditional taxi. Recently, the car service has come under fire for its "surge pricing" policy, which raises car rates during periods of peak demand.
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BUSINESS
By Tim Swift, The Baltimore Sun   | January 9, 2014
Uber -- the company that allows users to hail a car via a smartphone app -- is drastically cutting prices in several markets including Baltimore.  The price changes run as much as a 20 percent discount, but Baltimore riders will see a six percent drop. A mininum fare for Baltimore is now $4.60 down from $5.   With this cut, Uber spokeswoman Nairi Hourdajian said that uberX in Baltimore becomes up to 18 percent cheaper than a traditional taxi. Recently, the car service has come under fire for its "surge pricing" policy, which raises car rates during periods of peak demand.
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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Staff Writer | September 10, 1992
Philander Wallace was getting lonely. He bought a waterfront town house on the pier at Belt's Landing in Fells Point in April 1991, then waited and waited -- he and his wife were the only people in the whole development -- while the original developers went broke, and Maryland National Bank took over the $24 million community.Mr. Wallace is lonely no more. The development team that bought the project from Maryland National last month announced the details of drastic price cuts yesterday at the 102-unit community.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,andrea.walker@baltsun.com | December 22, 2009
Vanessa Johnson was content watching favorite shows on her 36-inch "regular" television, but her husband was pining to see the Ravens on a much more impressive high-definition, flat-screen model. And though Johnson might have ignored his wish not so long ago, heavy discounting this season allowed them to buy a 58-inch Samsung model for about $2,000. "The price is down considerably for that size," Johnson said recently while making a final layaway payment for the television at Sears in White Marsh.
BUSINESS
By RICK POPELY and RICK POPELY,CHICAGO TRIBUNE | November 29, 2005
Seeking to avert a potentially crippling strike at its largest supplier, General Motors Corp. gave bankrupt Delphi Corp. a temporary price break yesterday, and Delphi extended its deadline for reaching wage concessions with its unions. Delphi had warned it would ask a bankruptcy judge to void its labor contracts Dec. 16 unless unions agreed to substantial pay and benefits cuts. Yesterday, the Troy, Mich., company said it would delay the filing at least five weeks, to Jan. 20. GM bought $15.4 billion in parts last year from Delphi, which filed for Chapter 11 bankruptcy protection Oct. 8. The two companies had agreed that GM would pay less this year for the same parts as part of its continuing relationship.
BUSINESS
By Abigail Goldman and Abigail Goldman,Los Angeles Times | December 2, 2006
Forget the critics, labor unions, activists and politicians who have tried to stir up trouble for Wal-Mart Stores Inc. The company's latest problems come from a far more serious quarter: consumers. Despite hundreds of price cuts to lure early-bird Christmas shoppers, November was Wal-Mart's worst month in a decade, with sales dipping below last year's levels. And December isn't expected to be much better. "The good old days are over," said Mark Husson, an analyst with HSBC Securities in New York.
BUSINESS
By ASOCIATED PRESS | May 21, 1991
NEW YORK (AP) -- IBM cut prices on many of its personal computers yesterday, following reductions on other models last month. The cuts are part of an industry trend that is prompted by the recession and increasing competition.Analysts say the price reductions by IBM and other PC manufacturers are hurting profit margins at computer makers and computer retail stores alike. But they signal an opportune time for computer buyers.Personal computer prices typically drop by 15 percent to 20 percent a year even without a soft market due to the continual decline in the cost of computer components, said Rick Martin of Prudential Securities Inc.What is notable about the recent price cuts is they have not always coincided with new-product announcements, as is usually the case.
BUSINESS
By BLOOMBERG NEWS | May 26, 2004
SAN FRANCISCO - Charles Schwab Corp., the biggest discount brokerage, said yesterday that it will cut trading commissions next month by as much as 67 percent to compete with lower-cost Internet brokers such as E*Trade Financial Corp. and Ameritrade Holding Corp. In making the biggest change in its pricing since introducing $29.95 Internet trades in 1998, Schwab will drop commissions by a third, to $19.95, for most customers and cut fees for clients with at least $1 million in assets at Schwab to $9.95, Schwab said in a statement.
BUSINESS
By BOSTON GLOBE | October 7, 2003
CD prices started to inch down last week, hovering around $10 for a new release at many stores, putting music at a similar price point on the entertainment meter as a movie ticket or a takeout pizza. The lower prices were the advance guard of wholesale price cuts announced early last month by the world's largest record company, Universal Music Group. As they have in the past, the mass merchandisers -- Wal-Mart, Best Buy and Circuit City -- went even further, advertising select CDs at prices below what Universal was charging them.
BUSINESS
By BLOOMBERG NEWS | July 3, 1997
MINNEAPOLIS -- General Mills Inc. raised the price of its breakfast cereals an average of 2.6 percent yesterday, saying the company needs to adjust for inflation and possibly signaling the end of a costly price war.General Mills, maker of Cheerios, Wheaties, Trix and other popular cereals, has seen its costs rise "on everything across the board," from wages to material costs, spokesman David Dix said. The price increase is effective immediately.Food companies, reacting to consumer complaints, started to slash prices on breakfast cereals more than a year ago. Cereal company earnings have since been squeezed, with General Mills last week reporting a 12 percent decline in fiscal fourth-quarter earnings, more than expected.
NEWS
By Megan K. Stack and Megan K. Stack,Los Angeles Times | January 4, 2009
MOSCOW - Fuel delivery to four European countries fell below normal yesterday as Russia's state gas monopoly withheld natural gas from neighboring Ukraine for the third consecutive day. Ukraine warned that its gas pipeline system could experience "serious disruptions" if a worsening price dispute isn't settled in 10 to 15 days, threatening shortfalls across Europe in the heart of winter. Flows of gas to Poland, Romania, Hungary and Bulgaria, all of which depend on pipelines that cross Ukraine, decreased yesterday, officials said.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,Sun Reporter | June 15, 2008
So you've all but given up on the idea of going on vacation this summer. Higher food and energy costs have drained your budget, gas is a fortune, and those credit card balances are already big enough. And forget flying to Europe, where the weakening dollar has made Americans feel like the poor relations. In fact, forget flying period; fares are rising, security lines are growing and airlines keep tacking fees on everything from extra bags to extra legroom. The stress of it all is enough to keep anyone home.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN REPORTER | April 30, 2008
Shares of Under Armour slid more than 10 percent yesterday after the Baltimore sports apparel company said plans to get rid of excess merchandise by reducing prices at its outlet stores would force it to lower year-end earnings and gross margins. The company said it expected year-end income from operations of $103.5 million to $104.5 million, down from its previous estimate of $108.5 million to $110.5 million. Gross margins are expected to fall 30 basis points to 50 percent. Under Armour had previously expected gross margin improvements of 40 to 50 basis points.
BUSINESS
By STEPHEN L. ROSENSTEIN | April 27, 2008
The competitive nature of today's world may be intimidating to the small business owner. If a competitor cuts prices or offers other incentives, you may feel tempted to do the same in order to keep your customers, even if it puts the stability of your business at risk. Though cost is important, it is but one component of a larger attribute. If your business provides value through service, responsiveness and going the "extra mile," your customers will respond with loyalty, regardless of what your competition does.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN REPORTER | December 6, 2007
Squeezed by the sharp downturn in the housing market, one of the nation's largest homebuilders has sold the bulk of a luxury townhouse development in Baltimore's Federal Hill to a local developer who immediately cut prices about 20 percent. Lennar Corp. sold 22 homes in the 26-unit Federal Place development off Key Highway to Terra Nova Ventures. Lennar, largely a suburban builder, has no other projects in the city. The sale closed Nov. 29. Although terms of the sale were not disclosed, Terra Nova principal David F. Tufaro said the deal allowed the new owner to set prices it felt were more in tune with the current market.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN REPORTER | November 22, 2007
Giant Food's price-cutting strategy is slowly helping to attract shoppers faced with a growing array of grocery choices, and the program would be expanded by the end of the year, the chain's parent company said yesterday. But the results haven't shown up yet in net income or same-store sales, partly because product prices have been cut and because Giant has not yet embarked on a planned remodeling or replacement of 100 stores, said executives of Royal Ahold NV, Giant's Dutch owner. Giant, the dominant chain in the Baltimore-Washington region, is ahead of schedule in reducing prices across three-quarters of its merchandise and getting positive feedback from customers based on information tracked by customer loyalty cards.
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | October 7, 1994
Blue Cross and Blue Shield of Maryland announced yesterday it will cut its rates by 7 percent to 15 percent for most of its 1.4 million customers, sparking predictions of a price war among the state's health insurers and delighting employers across the state.Blue Cross spokesman Michael Streissguth said that reductions in the insurer's administrative expenses, as well as the increasing popularity of its lower-cost health maintenance organization would enable it to cut its premiums starting Nov. 1.L "The goal is to bring more people into Blue Cross," he said.
BUSINESS
By JIM MATEJA AND RICK POPELY and JIM MATEJA AND RICK POPELY,CHICAGO TRIBUNE | January 11, 2006
DETROIT -- Conceding that value pricing hasn't worked, General Motors Corp. said yesterday that it will lower sticker prices on 57 of its 76 models - 80 percent of its lineup - by an average of $1,300, effective today. Mark LaNeve, vice president of sales and marketing, said he's counting on the price cuts to increase sales - and silence critics. The pricing plan, detailed at the auto show in Detroit, also is aimed at making GM pricing competitive against Japanese vehicles. GM's rivals said it was too soon to say how they might respond.
BUSINESS
By New York Times News Service | September 7, 2007
SAN FRANCISCO -- In June, they were calling it the God Phone. Yesterday, it was the Chump Phone. People who had rushed to buy the Apple iPhone over the past two months suddenly and embarrassingly found they had overpaid for the year's most coveted gadget by $200. Apple, based in Cupertino, Calif., has made few missteps over the past decade, but it angered many of its most loyal customers by sharply dropping the price of its iPhone to $400 from $600 only two months after it went on sale.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | March 23, 2007
Sales at Giant Food declined yet again in the fourth quarter of last year, but the grocer's parent company said that it has seen positive results from a price reduction program it recently implemented at the supermarket chain. Dutch food company Royal Ahold NV, which owns Giant, also said plans to sell Columbia-based U.S. Foodservice, the food distributor it also owns, are on track for later this year. "It's good to be a seller when there is a lot of interest," Ahold President and CEO Anders Moberg said in a conference call with analysts yesterday.
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