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By Lorraine Mirabella, The Baltimore Sun | April 17, 2012
Sinclair Broadcast Group's chief executive, David D. Smith, earned $4.2 million last year, a 16 percent increase that included more than $2 million in stock option awards, the Hunt Valley-based broadcaster reported. Compensation for Smith, who is also the company's president, included a $1 million base salary and $1 million in cash bonuses, the company reported Monday to the Securities and Exchange Commission. The company said 94 percent of shareholders approved the company's executive compensation package last year in Sinclair's first-ever "say on pay" vote.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 2, 2014
Jos. A. Bank Clothiers saw its earnings slide in the fourth quarter as the menswear retailer attempted to fight off a takeover by Men's Wearhouse. The Hampstead-based retailer ultimately succumbed, agreeing to a $1.8 billion merger with its larger rival in March. For the quarter ended Feb. 1, Bank reported that it earned $27.4 million, down from $28.4 million in the comparable quarter a year earlier. Earnings per share slipped to 98 cents from $1.01. Bank said legal and advisory costs related to the takeover battle reduced its earnings per share by 7 cents.
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BUSINESS
By STACEY HIRSH and STACEY HIRSH,SUN REPORTER | April 25, 2006
Embattled businessman Steven R. Chamberlain has resigned as chief executive officer, director and chairman of the board of Lanham-based satellite system provider Integral Systems Inc. The resignation was made public in a document filed Friday evening with the Securities and Exchange Commission. Discontented shareholders are calling for the company's sale, and Chamberlain faces legal troubles after being indicted in Howard County in February on charges of sexual misconduct involving a 14-year-old girl at his Columbia home.
BUSINESS
By Colin Campbell, The Baltimore Sun | March 18, 2014
Skateboarding apparel store Zumiez included "mall violence" in its annual report of business risks released Tuesday, after a January shooting at The Mall in Columbia left two employees dead. "Most of our stores are located in shopping malls," the Washington state-based company wrote. "Any threat of terrorist attacks or actual terrorist events, or other types of mall violence, such as shootings in malls, particularly in public areas, could lead to lower customer traffic in shopping malls.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | December 11, 2013
Worthington Industries warned state officials Wednesday that it will close its 54-employee steel processing plant in Essex next year, a move that follows the collapse last year of the nearby Sparrows Point steel mill. "With the consolidation of the steel industry, many of the mills that previously supplied the Baltimore facility have closed, negatively impacting the supply chain there," Worthington said in a U.S. Securities and Exchange Commission filing. "The Company has concluded that it can more efficiently service its customers in the Mid-Atlantic Region from other Worthington facilities and processing partners.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | December 18, 2004
A Legg Mason Inc. subsidiary in London is close to a settlement that stems from a long-standing investigation into it and 20 other money managers over a $1.5 billion investment trust scandal. Terms of the settlement with the British securities regulator were not disclosed in a document filed yesterday with the Securities and Exchange Commission. The investigation, which began three years ago, was described last year as the largest undertaken by the Financial Services Authority, which oversees the British securities industry.
BUSINESS
By Peter H. Frank | December 12, 1990
MNC Financial Inc., unable to complete a timely sale of its credit-card division at a sufficient price, has announced it might try to sell the prized subsidiary to the public for as much as $1.13 billion.The financially troubled company, parent of Maryland National Bank and American Security Bank in Washington, said it filed documents with the Securities and Exchange Commission that would allow it to sell MBNA Corp., the Delaware-based credit card company now known as MBNA America Bank N.A.No decision on whether to launch an initial public offering of MBNA has been made, the company said, and such an offering will not proceed if MNC reaches an agreement to sell its subsidiary in a private transaction.
NEWS
By Gus G. Sentementes, The Baltimore Sun | April 9, 2012
The parent of 1st Mariner Bank said Monday that it took a minority stake in a small Cecil County bank after a customer defaulted on a loan — not as part of an acquisition strategy. 1st Mariner Bancorp. declined to identify the customer who lost nearly 25 percent of Cecil Bancorp's total shares to 1st Mariner in a collateral claim on a bad loan. The only person with such a significant stake in Elkton-based Cecil is its chairman, Charles F. Sposato, according to regulatory filings.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | April 5, 2002
In a sign that Host Marriott Corp. is distancing itself from its parent company, Marriott International Inc., executives from each will give up seats on the other's board, according to a filing with the Securities and Exchange Commission. Marriott International spun off Host Marriott in 1993, largely to own Marriott's real estate. Marriott International wanted to focus on hotel management and franchising its brands. Host Marriott, acting as an independent public company, later also began buying non-Marriott hotel brands such as Hilton and Hyatt.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | December 18, 2013
Legg Mason's Bill Miller is launching a new fund - an eponymous one. The Baltimore money management firm disclosed the impending Miller Income Opportunity Trust in an initial filing with the U.S. Securities and Exchange Commission on Friday, saying that Miller will manage the fund with son Bill Miller IV as assistant portfolio manager. The elder Miller turned in 15 straight years of market-beating returns, took a dive during the recession and has climbed back since. He will continue to run the Legg Mason Opportunity Trust fund, up about 60 percent so far this year.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | December 18, 2013
Legg Mason's Bill Miller is launching a new fund - an eponymous one. The Baltimore money management firm disclosed the impending Miller Income Opportunity Trust in an initial filing with the U.S. Securities and Exchange Commission on Friday, saying that Miller will manage the fund with son Bill Miller IV as assistant portfolio manager. The elder Miller turned in 15 straight years of market-beating returns, took a dive during the recession and has climbed back since. He will continue to run the Legg Mason Opportunity Trust fund, up about 60 percent so far this year.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | December 11, 2013
Worthington Industries warned state officials Wednesday that it will close its 54-employee steel processing plant in Essex next year, a move that follows the collapse last year of the nearby Sparrows Point steel mill. "With the consolidation of the steel industry, many of the mills that previously supplied the Baltimore facility have closed, negatively impacting the supply chain there," Worthington said in a U.S. Securities and Exchange Commission filing. "The Company has concluded that it can more efficiently service its customers in the Mid-Atlantic Region from other Worthington facilities and processing partners.
NEWS
By Scott Dance, The Baltimore Sun | September 23, 2013
The U.S. Securities and Exchange Commission suspended trading of the shares of Municipal Mortgage & Equity LLC, a Baltimore firm known as MuniMae, until Oct. 1 over late or missing filings with the market regulator. The SEC issued two orders Sept. 18, suspending trading and launching administrative proceedings. The actions regard MuniMae's failure to file quarterly reports with the SEC from the second quarter of 2006 through the third quarter of 2010 and for filing "materially deficient" annual reports for 2006 through 2010, according to the orders.
NEWS
By Lorraine Mirabella, The Baltimore Sun | April 17, 2012
Sinclair Broadcast Group's chief executive, David D. Smith, earned $4.2 million last year, a 16 percent increase that included more than $2 million in stock option awards, the Hunt Valley-based broadcaster reported. Compensation for Smith, who is also the company's president, included a $1 million base salary and $1 million in cash bonuses, the company reported Monday to the Securities and Exchange Commission. The company said 94 percent of shareholders approved the company's executive compensation package last year in Sinclair's first-ever "say on pay" vote.
NEWS
By Gus G. Sentementes, The Baltimore Sun | April 9, 2012
The parent of 1st Mariner Bank said Monday that it took a minority stake in a small Cecil County bank after a customer defaulted on a loan — not as part of an acquisition strategy. 1st Mariner Bancorp. declined to identify the customer who lost nearly 25 percent of Cecil Bancorp's total shares to 1st Mariner in a collateral claim on a bad loan. The only person with such a significant stake in Elkton-based Cecil is its chairman, Charles F. Sposato, according to regulatory filings.
NEWS
The Baltimore Sun | April 8, 2012
First Mariner Bank, the Baltimore-based institution that is under regulatory oversight, has acquired 1.8 million shares in Cecil Bancorp Inc., according to documents filed Friday with the Securities and Exchange Commission. The purchase represents a nearly 25 percent stake in Elkton-based Cecil Bancorp, the parent of Cecil Bank.
NEWS
By Scott Dance, The Baltimore Sun | September 23, 2013
The U.S. Securities and Exchange Commission suspended trading of the shares of Municipal Mortgage & Equity LLC, a Baltimore firm known as MuniMae, until Oct. 1 over late or missing filings with the market regulator. The SEC issued two orders Sept. 18, suspending trading and launching administrative proceedings. The actions regard MuniMae's failure to file quarterly reports with the SEC from the second quarter of 2006 through the third quarter of 2010 and for filing "materially deficient" annual reports for 2006 through 2010, according to the orders.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | April 2, 2014
Jos. A. Bank Clothiers saw its earnings slide in the fourth quarter as the menswear retailer attempted to fight off a takeover by Men's Wearhouse. The Hampstead-based retailer ultimately succumbed, agreeing to a $1.8 billion merger with its larger rival in March. For the quarter ended Feb. 1, Bank reported that it earned $27.4 million, down from $28.4 million in the comparable quarter a year earlier. Earnings per share slipped to 98 cents from $1.01. Bank said legal and advisory costs related to the takeover battle reduced its earnings per share by 7 cents.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | December 27, 2010
The Securities and Exchange Commission has accused unknown investors in Martek Biosciences Corp. of engaging in illegal insider trading days before last week's announcement of the Columbia company's $1.1 billion acquisition by Dutch company Royal DSM. The SEC filed a lawsuit in federal court in Manhattan one day after Martek, which makes algae-derived nutritional supplements for infant formulas, announced the deal with DSM, the world's largest producer...
BUSINESS
By Jay Hancock and Hanah Cho and Jay Hancock and Hanah Cho,ay.hancock@baltsun.com and hanah.cho@baltsun.com | October 19, 2008
Constellation Energy Group boss Mayo A. Shattuck III knew he had a crisis on his hands in early September. Financial markets were churning. Another huge Wall Street bank was near failure. And credit-rating agencies trained a withering eye on Constellation and other companies that borrowed big money and chanced it on derivatives and futures. Still, Shattuck and other Constellation directors finished an emergency conference call on Sept. 12, with the idea that they had time, according to company documents released late last week.
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