NEWS
August 29, 2009
ALEX GRASS, 82 Founder of Rite Aid Rite Aid Corp. founder Alex Grass died Thursday night in Harrisburg, Pa., after a 10-year battle with lung cancer, saaid his daughter, Elizabeth Weese. She, along with her husband Brian D. Weese, were the owners of four Bibelot bookstores in Baltimore (in Timonium, Woodholme, Cross Keys and Canton) from April 1995 until they declared bankruptcy in March 2001. Mr. Grass helped build Rite Aid into one of the nation's largest drugstore chains and was a philanthropist who gave to civic, health and educational organizations.
NEWS
April 3, 2009
U.S. mortgage rates again at record low WASHINGTON: Rates on 30-year mortgages fell to the lowest level on record for the second consecutive week after the Federal Reserve launched a new effort to assist the staggering U.S. housing market. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year, fixed-rate mortgages dropped to 4.78 percent this week, from 4.85 percent last week. It was the lowest in the history of Freddie Mac's survey, which dates back to 1971. Rates are down by more than a full percentage point from a year ago. "Mortgage rates followed other interest rates lower this week amid reports of slower economic growth," Frank Nothaft, Freddie Mac vice president and chief economist, said in a prepared statement.
NEWS
September 26, 2008
Third-quarter earnings up 21% at McCormick Spicemaker McCormick & Co. said yesterday that third-quarter earnings per share increased 21 percent as the company raised prices and saw a small benefit from the sale of its Season-All business. The Sparks-based company reported net income of $68.6 million, or 52 cents per share, for the quarter ended Aug. 31. That was compared with $56.8 million, or 44 cents per share, for the corresponding period a year ago. Sales were $781.6 million, compared with $716.
NEWS
February 1, 2008
Trial of 6 teens charged in bus attack gets under way The trial of six of the nine middle school students charged in the December attack of a woman and her boyfriend on a city bus began yesterday in juvenile court with attorneys arguing whether statements the teenagers made to police are admissible. The defense lawyers want to exclude from the adjudicatory hearing -- the equivalent of a trial in juvenile court -- statements the young suspects made to Maryland Transit Administration Police on the day of the beating.
NEWS
By June Arney | June 5, 2007
Rite Aid Inc. took over 25 Eckerd stores in Maryland yesterday, including nine in the Baltimore region, shoring up its position as the second-largest drugstore chain in the state. The Maryland stores are part of Rite Aid's $4 billion deal for the Brooks and Eckerd chains, which was announced in August and completed yesterday. In all, Rite Aid bought 1,854 Brooks and Eckerd stores, and six distribution centers in 18 states, making it the largest drugstore chain on the East Coast, the company said.
NEWS
April 4, 2007
Arrest made quickly after store shooting The 31-year-old West Baltimore man who was shot outside a drugstore in the Mid-Town Belvedere neighborhood Monday night was in critical but stable condition at Maryland Shock Trauma Center yesterday, police said. Donta Madison was shot in the back, a hand and an arm while on the parking lot of the Rite Aid in the 200 block of W. Chase St., near Martin Luther King Boulevard, about 10:30 p.m., according to police. Three men were arrested about a block away in the 1200 block of Cathedral St., and one, a 26-year-old West Baltimore man, was charged with attempted murder.
NEWS
By Andrew Leckey | January 21, 2007
Rite Aid is growing, but will its stock keep on growing? - R.C., via the Internet Rite Aid Corp., the nation's third-largest drugstore chain behind Walgreen Co. and CVS Corp., is in a growth spurt. Already operating about 3,300 drugstores in 27 states and the District of Columbia, it intends to purchase 1,858 drugstores under the Brooks and Eckerd names, along with six distribution centers. These are being acquired from Canada's Jean Coutu Group Inc. in a deal announced at roughly $3.4 billion in cash and stock.
NEWS
March 3, 2005
In the Region Development group wins lease to run Inner Harbor Marina A development group that includes Harbor Bank executive Joseph Haskins Jr. has received a lease to operate the Inner Harbor Marina off Key Highway in South Baltimore. Under a deal approved by the Board of Estimates yesterday, Marine Associates LLC will pay the city $199,992 annually to rent the 158-slip marina. The lease has a three-year renewal option and is about $160,000 a year more than the lease with the previous operator, said Andrew B. Frank, executive vice president of the Baltimore Development Corp.
NEWS
By Julie Bykowicz | December 15, 2004
A mother who says she watched helplessly as a plainclothes security guard at a Rite Aid in Hampden scooped up her 10-year-old son and held him upside down is suing the guard and the corporation for $6 million. In the lawsuit, filed this week in Baltimore City Circuit Court, Tracy Martin claims that the guard, Walter Jackson, then dragged her son back into the store and searched his pockets as the boy screamed and cried. Jody Cook, a spokeswoman for Pennsylvania-based Rite Aid Corp., said she hadn't seen the lawsuit and declined to comment.
NEWS
By BLOOMBERG NEWS | October 15, 2004
HARRISBURG - Franklin C. Brown, a former Rite Aid Corp. chief counsel convicted of accounting fraud, was sentenced to 10 years in prison yesterday by a judge who rejected his arguments that the term would be a death sentence because he is 76 and ill. Brown was convicted last October of conspiring to inflate earnings at Rite Aid, the No. 3 U.S. drugstore chain, witness tampering and obstructing justice. Before the trial, he signed a plea agreement that would have brought him a much lighter sentence, but changed his mind and gambled on an acquittal at trial.