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Rite Aid

BUSINESS
By June Arney and June Arney,sun reporter | 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.
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BUSINESS
By BLOOMBERG NEWS | September 24, 2004
CAMP HILL, Pa. - Rite Aid Corp., the No. 3 U.S. drugstore chain, reported an unexpected second-quarter profit of $9.83 million as inventory costs and interest expenses declined. The company said yesterday that it broke even on a per-share basis, compared with a loss of $10.6 million, or 4 cents, a year earlier. The drugstore chain was expected to post a loss of 2 cents. Chief Executive Officer Mary Sammons is reducing debt incurred when the company's former management bought six chains beginning in 1995.
BUSINESS
March 4, 2001
Martin L. Grass, the ousted chairman of Rite Aid Corp., has put his 16,000- square-foot Green Spring Valley estate home on the market for $3.975 million, the highest listed price for a residence in Baltimore County history, according to local real estate agents. The property gained notoriety in the late 1990s when Grass used part of the 16-acre site as a landing pad for his daily helicopter commutes to the company's Harrisburg, Pa., headquarters. The practice led to a number of zoning fights between Grass and his neighbors.
NEWS
BY A SUN STAFF WRITER | June 18, 2003
HARRISBURG, Pa. - Rite Aid Corp.'s former chief executive Martin L. Grass pleaded guilty yesterday to two counts of conspiracy - to defraud shareholders and to obstruct justice - in one of the nation's biggest corporate accounting scandals in recent history. Grass, the son of Rite Aid's founder, agreed in a deal with federal prosecutors to serve up to eight years in prison and pay the government $3.5 million in fines and forfeitures. If approved by U.S. District Judge Sylvia H. Rambo, the sentence would be the stiffest punishment handed a former CEO for accounting fraud since corporate scandals at Enron, WorldCom and Adelphia began undermining investors' confidence, prosecutors said.
NEWS
By Stephanie Hanes and Stephanie Hanes,SUN STAFF | May 30, 2003
In what lawyers believe is the first case of its kind in Maryland, a Baltimore County jury ordered the Rite Aid Corp. yesterday to pay $250,000 to a woman who said she became permanently disabled after following incorrect advice on an information pamphlet enclosed with her Lyme disease antibiotic. Although Baltimore County Circuit Judge John F. Fader II will review many of the lawsuit's complex legal issues at a hearing in August, and although the case will likely go on from there to the Court of Appeals, yesterday's verdict is at least a short-term victory for Ellen Levy Gray, 42, of Owings Mills, a former star athlete who now strains to play with her 3- and 5-year-old children.
NEWS
By Edward Lee and Edward Lee,SUN STAFF | October 20, 1997
Uncle Y Y's Szechuan, a restaurant that has developed a loyal following in Ellicott City during the past four years, is apparently going to be replaced by a drive-through pharmacy at U.S. 40 and Rogers Avenue.The distinctive restaurant -- painted white with a red roof and green lettering -- closed Sept. 20."We're pursuing other challenges," said Joanne Eshain Lee, daughter of Yuen Yi Lee, the man behind Uncle Y Y's.She said the family plans to open another business in Howard County by 1999, added, "Not being able to devote ourselves full time to the restaurant, the family felt that it was better to pull out instead of hiring others."
NEWS
By Liz Atwood and Liz Atwood,SUN STAFF | June 18, 1999
Rite Aid Chairman Martin L. Grass and his helicopter have stirred up trouble again.The executive -- who ran afoul of Baltimore County regulations two years ago by taking off and landing his helicopter in Green Spring Valley -- touched down Tuesday in the parking lot of Harborview Marina and Yacht Club on Key Highway.Baltimore inspectors fined the marina $500 the same day for allowing the helicopter to take off and land without a permit.Franklin Wise, Harborview's lawyer, said the company allowed Grass to land in the parking lot as a courtesy so that he could attend a meeting and that his comings and goings are not a regular habit.
NEWS
By Donna R. Engle and Donna R. Engle,SUN STAFF | December 12, 1995
A downtown Westminster property that has been on the market for six years could become the site for the city's fourth Rite Aid drugstore.Rite Aid spokesman Craig M. Muckle refused yesterday to confirm or deny rumors that a builder who frequently develops sites for the Camp Hill, Pa.-based drugstore chain is trying to acquire the old Farmers Supply Co. property at Green and Liberty streets.William B. Dulany, trustee for the approximately 70 owners of the Farmers Supply property, said yesterday that he had received a contract through the real estate agent who is marketing the property.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | September 10, 2002
The trial of Rite Aid Corp.'s former chairman and chief executive, Martin L. Grass, and three former and current executives, scheduled to begin yesterday in U.S. District Court in Harrisburg, Pa., was postponed by the judge until March 3. Attorneys for Grass and the other executives sought a one-year postponement, citing the case's complexity and the large volume of documents. Prosecutors had acceded to a trial postponement of less than one year, said Martin Carlson, first assistant U.S. attorney in Harrisburg.
BUSINESS
By BLOOMBERG NEWS | May 26, 2004
HARRISBURG, Pa. - A judge sentenced former Rite Aid Corp. Vice President Eric Sorkin to five months in federal prison and five months of home detention yesterday for lying about his role in an accounting fraud that cost the company $1.6 billion in profit. U.S. District Judge Sylvia Rambo also ordered Sorkin to serve two years of supervised release. He also was fined $5,000, First Assistant U.S. Attorney Martin Carlson said. Sorkin is the first of five executives who pleaded guilty to the fraud to be sentenced.
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