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By Gus Sentementes, The Baltimore Sun | April 27, 2010
In the first round of job cuts tied to the buyout of Black & Decker Corp. by The Stanley Works, the merged company said Tuesday would lay off 37 employees this week who work for the tools giant in Towson and other Baltimore-area facilities. Last month, Stanley bought Towson-based Black & Decker Corp. in a $4.5 billion deal that created the world's largest maker of hand and power tools. At the time, the companies said they expected to trim about 4,000 employees from their worldwide workforce of 38,000.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 1, 2013
Dr. Luis Diaz is an oncologist at the Johns Hopkins School of Medicine, a researcher with patented findings and the co-founder of a small, fast-expanding company. "We've grown from no employees to one employee to four employees and now we have 12," said Diaz, chief medical officer of the Baltimore-based Personal Genome Diagnostics. The Baltimore region is a top performer in research but is merely middling when it comes to patenting innovations, a critical next step in the progression Diaz made to job creation.
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BUSINESS
By Andrea K. Walker, The Baltimore Sun | July 29, 2010
Stanley Black & Decker announced Thursday that it had acquired CRC-Evans International, a supplier of specialized tools, equipment and services for the construction of oil and natural gas transmission pipelines, in a $445 million cash deal. The Connecticut-based company bought CRC from a group of investors led by private equity firm Natural Gas Partners. Houston-based CRC, with fiscal revenue of about $250 million, will allow Stanley to immediately capitalize on favorable trends in the oil and gas infrastructure arena, Stanley said in a statement.
BUSINESS
By Mara Lee, Tribune Newspapers | March 20, 2012
Even after Stanley Black & Decker shareholders rejected the tool and security company's executive pay plan last spring, the company paid Nolan D. Archibald, its executive chairman and the former CEO of Black & Decker, a total of $64.4 million in 2011. Archibald became chairman in March 2010 when the former Towson-based Black & Decker Corp. was bought by the Stanley Works in a $4.5 billion deal. At the time, Archibald's sale-related compensation, including bonuses tied to cost-cutting targets, drew criticism from corporate governance experts, who had estimated its worth at $89 million over three years.
BUSINESS
By From Sun staff and news services | January 27, 2011
Stanley Black & Decker said Thursday that its fourth-quarter profit surged, fueled by acquisitions. The maker of hand tools and power tools and accessories also offered earnings guidance for this fiscal year above Wall Street forecasts. Net income rose to $137.8 million, or 81 cents per share, for the October-December period from $56.7 million, or 69 cents per share, a year ago. Stanley Works acquired Black & Decker in a $3.5 billion stock buyout approved in March 2010. The company now expects the Black & Decker acquisition will save $425 million by the end of 2012, more than the $350 million originally estimated.
NEWS
By Dan Rodricks | April 6, 2011
I see from my newspaper about that $12 million investment Stanley Black & Decker plans to make for long-overdue upgrades to its Towson corporate campus, and I'm thinking: Beautiful, that's the way it should be — no need for the government to be involved anymore, and not after what the state of Maryland and Baltimore County went through with this company. If a company makes gobs of profits, it shouldn't need welfare from the states or towns where it does business. I'm sure the 1,100 employees in Towson are relieved to see their out-of-state bosses making this kind of investment.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 13, 2010
A Stanley Black & Decker director whose real estate partnership with a company executive brought a rebuke from the New York Stock Exchange last month will not seek re-election, the toolmaker said Tuesday. M. Anthony Burns, whose term ends May 20, told the company that he won't have the time to continue because he accepted a position on another corporate board. Before Black & Decker finished merging with Connecticut-based Stanley Works, the Towson company disclosed that Burns and Black & Decker Chief Executive Nolan D. Archibald were co-owners of a luxury golf community in Utah.
BUSINESS
By Mara Lee, Tribune Newspapers | March 20, 2012
Even after Stanley Black & Decker shareholders rejected the tool and security company's executive pay plan last spring, the company paid Nolan D. Archibald, its executive chairman and the former CEO of Black & Decker, a total of $64.4 million in 2011. Archibald became chairman in March 2010 when the former Towson-based Black & Decker Corp. was bought by the Stanley Works in a $4.5 billion deal. At the time, Archibald's sale-related compensation, including bonuses tied to cost-cutting targets, drew criticism from corporate governance experts, who had estimated its worth at $89 million over three years.
BUSINESS
By Gus G. Sentementes | gus.sentementes@baltsun.com | March 12, 2010
Shareholders of Black & Decker Corp. and The Stanley Works approved the combination of the two companies Friday morning in a deal that will create a multibillion-dollar juggernaut in the power and hand tools business. In one of its last corporate acts as a stand-alone company, Towson-based Black & Decker convened a special shareholders meeting shortly after 9 a.m. and got approval to sell itself to Stanley. Around the same time, Stanley shareholders voted for the deal at the company's headquarters in New Britain, Conn.
BUSINESS
By Lorraine Mirabella and Gus G. Sentementes | March 14, 2010
I n the four months since announcing the sale of Black & Decker Corp. to Connecticut-based rival The Stanley Works, executives have sought to prepare and reassure employees about the merger, sending out "Integration Updates" and hosting forums where questions could be posed to corporate leaders. In the merger-speak they developed, the integration teams have been referring to Monday as "Day 1." Monday will be first day of the combined company - to be called Stanley Black & Decker - and also the end of Towson-based Black & Decker as a stand-alone company after a 100-year history in toolmaking.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 25, 2011
Stanley Black & Decker shareholders aren't happy about what the company is paying top executives. About 54 percent of shareholders voted against the executive compensation packages, 35 percent gave them a thumbs up and the rest abstained or were broker non-votes, the company said last week. The results are advisory only, which means the company isn't forced to change its pay practices. Nolan D. Archibald, executive chairman of the company and the former CEO of Towson-based Black & Decker, earned $28 million last year, the company reported earlier.
NEWS
By Dan Rodricks | April 6, 2011
I see from my newspaper about that $12 million investment Stanley Black & Decker plans to make for long-overdue upgrades to its Towson corporate campus, and I'm thinking: Beautiful, that's the way it should be — no need for the government to be involved anymore, and not after what the state of Maryland and Baltimore County went through with this company. If a company makes gobs of profits, it shouldn't need welfare from the states or towns where it does business. I'm sure the 1,100 employees in Towson are relieved to see their out-of-state bosses making this kind of investment.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | April 5, 2011
News two years ago that toolmaker Stanley Works was merging with Towson-based Black & Decker in a $4.5 billion deal sent ripples of uncertainty across the state. The loss of a Fortune 500 company could not be good for the area, economic development officials feared. Many worried that the merger would result in major job losses and, in a worst-case scenario, the closure of Black & Decker's Towson campus, ending a century of power tool production and a storied history in the area. Much of that fear was alleviated Tuesday when Stanley Black & Decker announced that it is investing $12 million in the 33-acre site and is committed to making the campus a major part of the business.
BUSINESS
By From Sun staff and news services | January 27, 2011
Stanley Black & Decker said Thursday that its fourth-quarter profit surged, fueled by acquisitions. The maker of hand tools and power tools and accessories also offered earnings guidance for this fiscal year above Wall Street forecasts. Net income rose to $137.8 million, or 81 cents per share, for the October-December period from $56.7 million, or 69 cents per share, a year ago. Stanley Works acquired Black & Decker in a $3.5 billion stock buyout approved in March 2010. The company now expects the Black & Decker acquisition will save $425 million by the end of 2012, more than the $350 million originally estimated.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | July 29, 2010
Stanley Black & Decker announced Thursday that it had acquired CRC-Evans International, a supplier of specialized tools, equipment and services for the construction of oil and natural gas transmission pipelines, in a $445 million cash deal. The Connecticut-based company bought CRC from a group of investors led by private equity firm Natural Gas Partners. Houston-based CRC, with fiscal revenue of about $250 million, will allow Stanley to immediately capitalize on favorable trends in the oil and gas infrastructure arena, Stanley said in a statement.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | April 27, 2010
In the first round of job cuts tied to the buyout of Black & Decker Corp. by The Stanley Works, the merged company said Tuesday that it would lay off 37 employees this week who work for the tools giant in Towson and other Baltimore-area facilities. Last month, Stanley bought Towson-based Black & Decker in a $4.5 billion deal that created the world's largest maker of hand and power tools. At the time, the companies said they expected to trim about 4,000 employees from their worldwide work force of 38,000.
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