NEWS
By Laura Smitherman | August 25, 2009
About 70,000 state employees would see their salaries reduced under a furlough proposal from Gov. Martin O'Malley to save $75 million in the middle of the latest budget crisis. The plan includes a shutdown of routine state government operations for five days around holidays, including the Friday before the coming Labor Day weekend. The highest paid employees - those earning more than $100,000 a year - would lose two weeks' pay. Lowest-paid workers would be docked for three days. Salaries would return to current levels next year.
NEWS
By Andrea K. Walker | April 24, 2009
Black & Decker Corp.'s first-quarter profit plunged 93 percent as a weak economy hurt sales of its power tools and other products much worse than it had anticipated. Executives at the Towson-based company don't believe the economy will improve any time soon, saying they expect sales to decline just as much in the second quarter as the first three months of the year. The company also lowered its outlook for the year. The company on Thursday reported earnings for the quarter that ended March 29 of $4.9 million, or 8 cents per diluted share.
NEWS
By Hanah Cho | March 14, 2009
Power tool maker Black & Decker Corp. is cutting salaries and suspending 401(k) matches for U.S. employees in response to the global recession and declining revenues, the company said yesterday. Starting with the first pay period in April, the Towson company said base salaries of top executives will be cut by 10 percent, salaried employees by 5 percent, and salaried workers who qualify for overtime by 2.5 percent. Black & Decker Chief Executive Officer Nolan D. Archibald, who made $11.1 million in total compensation in 2007, will likely take a $150,000 cut from his $1.5 million base salary.
NEWS
By Laura Smitherman | December 24, 2008
At a time when state workers are being furloughed and face possible layoffs, Maryland judges would get a pay raise of nearly $40,000 over the next four years under a plan hatched by an influential commission that recommends salaries for those on the bench. The Judicial Compensation Commission, which includes a lawyer, a developer and business leaders, plans to submit its recommendation to the General Assembly next month, according to Chairwoman Betty Buck, a businesswoman who chairs the state chamber of commerce.
NEWS
By Timothy B. Wheeler | March 13, 2008
The Senate gave preliminary approval yesterday to nearly $390 million in cuts from Gov. Martin O'Malley's proposed budget for next year, turning aside Republican efforts to make even deeper reductions and to limit raises for top administration officials. Sen. David R. Brinkley, the GOP leader from Frederick and Carroll counties, urged senators to lop $100 million more from O'Malley's spending plan and to use $114 million from state reserve funds to allow for repeal of the computer services tax. "This was a bad idea from the start," Brinkley said of the computer-services tax, part of a package of tax increases meant to ease the state's structural budget deficit.
NEWS
By Bradley Olson | January 24, 2008
The budget cuts in the General Assembly in the past year have had a long reach, with hundreds of millions in reductions to planned state spending on everything from education to public libraries. One area where the ax didn't fall? The salaries of legislators, which range from $43,500 a year to $56,500, for a 90-day session. Annapolis lawmakers had good reason for not cutting their salaries during the special legislative session in November, when they raised taxes by $1.3 billion. It's against the law. But Sen. Bryan W. Simonaire, an Anne Arundel County Republican, believes the system for determining legislators' pay - which was designed to largely remove the politically tricky decision from legislators' hands - is due for a change.
NEWS
By Gadi Dechter | November 12, 2007
The president of the Johns Hopkins University received nearly $2 million in pay and benefits in the 2006 fiscal year, making him the third-best-compensated college president in the country, according to an annual survey published today by The Chronicle of Higher Education. Dr. William R. Brody's compensation more than doubled since 2005 -- in large part because of a $920,000 check for deferred salaries dating to 1998, Hopkins officials said. The survey's private-college data are based on tax returns covering July 2005 through June 2006, the most recent available for private universities.
NEWS
By DAN CONNOLLY | August 19, 2007
For nearly a dozen years, baseball agent Scott Boras and Orioles principal owner Peter Angelos ignored each other as much as possible. Oh, they'll say on the record it was nothing personal. As Boras once quipped, they are both attorneys and both of Greek heritage, so how could they not have a mutual respect? They're just a pair of busy, hardworking stiffs who simply never found the time to break pita together. At least until last week - when the club and Boras consummated two deals in the time it normally takes the Orioles and New York Yankees to play a game.
NEWS
By Rochelle McConkie | July 25, 2007
Annapolis Mayor Ellen O. Moyer's effort to boost future mayors' and aldermen's salaries was roundly defeated after city officials realized that it would actually cut council members' pay -- and was illegal. Council members unanimously rejected Monday night a 3 percent cost of living adjustment in their paychecks, after realizing they would have to take a pay cut first. The bill would have also applied to themselves retroactively to July 1, though state law allows the council to change the salaries only of their successors.
NEWS
By Andrew A. Green | July 7, 2007
About 2,100 state employees will each take home $125,000 or more in salary this year, with nearly all of the top earners working for the University System of Maryland. The men's basketball coach, athletic director and football coach at the University of Maryland, College Park all rank high on the list, but the top spots for base pay all go to researchers at the University of Maryland Medical Center. Men's basketball coach Gary Williams earns about $1.6 million a year, which includes radio and TV appearances, sponsorship deals, bonuses and incentives; and football coach Ralph Friedgen was last reported to be guaranteed at least $1.5 million.