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BUSINESS
January 23, 2010
The stock market sank Friday into its worst three-day slide since the depths of last year's financial crisis, stung by deepening concern about President Barack Obama's bank-regulation plan and fresh economic doubts. The Dow Jones industrial average sank more than 200 points - its third triple-digit loss in a row. The index has fallen 5.2 percent from its 15-month-high set Tuesday. It was the Dow's worst three-day drop since the furious sell-off last March, which marked the end of the bear market and the launch of a powerful rally that had been in place until this week.
ARTICLES BY DATE
NEWS
August 15, 2014
Mayor Stephanie Rawlings-Blake's actions regarding city pensions show why Baltimore City will never be able to obtain and keep qualified police and fire personnel ("Federal court upholds mayor's pension overhaul," Aug. 6). When people come on a job they sign a contract that outlines what they will receive for their services when they retire. Throughout their careers contracts are renegotiated and each party expects the other to abide by the terms agreed on. However, this mayor has ignored what was promised to retirees.
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ENTERTAINMENT
By Laura Vozzella | August 4, 2011
Good thing Ron Shapiro isn't a told-you-so kinda guy. Not after The New York Times reported recently on how Chinese companies are finding a back door into the U.S. stock market . Shapiro, a prominent sports agent-attorney whose clients have included Cal Ripken Jr., warned about the same sort of stock market shenanigans 42 years ago, as lead author of a Maryland Law Review article titled, “The 'Going Public Through the Back Door' Phenomenon...
NEWS
By Robert B. Reich | January 8, 2014
One of the worst epithets that can be leveled at a politician these days is to call him a "redistributionist. " Yet 2013 marked one of the biggest redistributions in recent American history -- a redistribution upward, from average working people to the owners of America. The stock market ended 2013 at an all-time high -- giving stockholders their biggest annual gain in almost two decades. Most Americans didn't share in those gains, however, because most people haven't been able to save enough to invest in the stock market.
BUSINESS
By Natalie Sherman, The Baltimore Sun | January 4, 2014
The stock market's banner year brought good news to Baltimore money management firms, with leaders pointing to a rising tide that buoyed their funds and their companies' prospects. Market indices soared in 2013, with the S&P 500 up almost 30 percent, the Dow Jones industrial average up 27 percent and the Nasdaq up 38 percent. The stocks of smaller companies, in particular, climbed: the Russell 2000, one of the indices used to measure small-cap funds, rose about 39 percent. It was the best annual performance since the 1990s for the S&P and the Dow, and the best since 2009 for Nasdaq.
BUSINESS
September 30, 2004
DOW JONES (up) +58.84 closed at 10,136.24 NASDAQ (up) +24.07 closed at 1,893.94 S&P 500 (up) +4.74 closed at 1,114.80 SUN-BLOOMBERG (up) +1.62 closed at 268.28 Euro in dollars (up) +$0.0001 closed at $1.2327 10-year T-Bonds (up) +0.09 closed at 4.09%
BUSINESS
By Hanah Cho, The Baltimore Sun | July 18, 2010
Jos. A. Bank Clothiers navigated a tough consumer market to gain in profit and stock price in the past fiscal year. The Hampstead retailer's chief executive, R. Neal Black, also did well, taking home $2.6 million in pay, more than double his compensation in 2008. On the other end of the executive pay spectrum, A.L. "Tom" Giannopoulos, head of Columbia-based MICROS Systems Inc., saw his total compensation drop $4.1 million. Giannopoulos' $2.8 million pay package, while not a small sum, reflected the declining profit and stock market value at the information systems company during the past fiscal year.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | March 15, 2013
Legg Mason Inc.'s stock, which has struggled to recover from the financial crisis, hit a new 52-week high last week. It could be a harbinger of a turnaround at the Baltimore-based money manager. Or Legg shares simply may be riding the recent record-setting rally in the stock market. Legg's stock closed Thursday at a yearly high of $32.13 per share — territory the stock hasn't traded in since July 2011. The stock retreated slightly Friday, closing down 18 cents at $31.95, but even so, its shares are up 24 percent this year.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | August 7, 2011
Ed Fishel is a year and three months from retirement. Ask him if he noticed that the stock market plunged last week, and the Monkton man will laugh incredulously. "Are you kidding me?" he said Friday, less than 24 hours after stock-market indexes turned in their biggest one-day drop since the financial crisis. "For somebody like me, who's butting up against their retirement, yes — it's pretty much all we talk about. … This is scary as heck. " Local brokers fielded nervous calls from clients last week.
NEWS
August 14, 1992
The spectacle of nearly one million Chinese clamoring to invest their money in the Shenzen stock market -- and creating the largest civil disturbance since the 1989 Tiananmen Square protests -- is the clearest sign that China's policy of "socialism with Chinese characteristics" is falling apart. It is new evidence that the capitalist experiment started in southeastern China 15 years ago is poised to overwhelm the country.When Deng Xiaoping imposed reforms to introduce market forces into China's stagnating economy in the late 1970s, he created a tremendous spurt of economic growth, particularly in south China.
BUSINESS
By Natalie Sherman, The Baltimore Sun | January 4, 2014
The stock market's banner year brought good news to Baltimore money management firms, with leaders pointing to a rising tide that buoyed their funds and their companies' prospects. Market indices soared in 2013, with the S&P 500 up almost 30 percent, the Dow Jones industrial average up 27 percent and the Nasdaq up 38 percent. The stocks of smaller companies, in particular, climbed: the Russell 2000, one of the indices used to measure small-cap funds, rose about 39 percent. It was the best annual performance since the 1990s for the S&P and the Dow, and the best since 2009 for Nasdaq.
NEWS
By Leonard Pitts Jr and By Leonard Pitts Jr | December 5, 2013
I like capitalism. Specifically, I like the idea that if I write a better book, have a better idea, build a better mousetrap, I will be rewarded accordingly. A system where everyone gets the same reward regardless of quality or quantity of work is inconsistent with excellence and innovation, as the mediocrity and inefficiency that beset the Soviet Union readily proves. The woman who is successful under capitalism gets to eat steak and lobster whenever she wants. That's never bothered me. What does bother me is the notion that the unsuccessful man who lacks that woman's talent, resources, opportunities or luck should not get to eat at all. There is something obscene in the notion that a person can work full time for a multinational corporation and earn not enough to keep a roof over his head or food on his table.
NEWS
By Robert B. Reich | November 6, 2013
How to explain this paradox? Starting Nov. 1, more than 47 million Americans lost some or all of their food stamp benefits. House Republicans are pushing for further cuts. If the sequester isn't stopped, everything else poor and working-class Americans depend on will be further squeezed. We're not talking about a small sliver of America here. Half of all children get food stamps at some point during their childhood. Half of all adults get them sometime between ages 18 and 65. Many employers -- including the nation's largest, Walmart -- now pay so little that food stamps are necessary in order to keep food on the family table, and other forms of assistance are required to keep a roof overhead.
NEWS
By Robert B. Reich | July 30, 2013
Almost everyone knows CEO pay is out of control. It surged 16 percent at big companies last year, according to the New York Times, and the typical CEO raked in $15.1 million. Meanwhile, the median wage continued to drop, adjusted for inflation. What's less well-known is that you and I and other taxpayers are subsidizing this sky-high executive compensation. That's because corporations deduct it from their income taxes, causing the rest of us to pay more in taxes to make up the difference.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 8, 2013
Baltimore's Legg Mason Opportunity Trust, co-managed by well-known stock-picker Bill Miller, is the top-ranked U.S. diversified stock fund for the third consecutive quarter, according to a Wall Street Journal ranking. Miller and his co-manager, Samantha McLemore, buy shares that have fallen substantially because of dim prospects for the company, The Wall Street Journal said. The duo, for example, snapped up shares of Netflix and Best Buy before their stock recovery. These purchases contributed to Opportunity Trust's 55.1 percent return for the past 12 months and 31.6 percent gain for the first half of this year, the Journal said.
NEWS
June 14, 2013
It was quite entertaining to read Robert L. Ehrlich Jr.'s recent column alleging President Barack Obama has made numerous foreign policy blunders ("Obama foreign policy follies befuddle both left and right," June 9). Unfortunately, Mr. Ehrlich was only successful at lobbing in all of the political buzz words like Obamacare, Benghazi, Bill Ayers, Jeremiah Wright (!) but with no cohesive message or argument. Predictably, in a column supposedly about foreign policy, the governor also chose to mention President Obama's "dismal" domestic track record and "distressing" judicial appointments.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | May 27, 1992
The 200th anniversary of the New York Stock Exchange featured a carnival, the release of a 29-cent stamp commemorating the event and the exchange's first television commercials ever. Even former Soviet President Mikhail S. Gorbachev dropped by to pay his respects.The anniversary gives time for the market to reflect in a record-setting year."The bicentennial is a bullish factor, and the public relations surrounding it will draw the attention of more individuals to the market," said Joseph McAlinden, managing director of Dillon Reed.
BUSINESS
By Donald Saltz | December 20, 1991
Based on the way it's usually been over the decades, what you see in the stock market today is an indication of what the economy will be in about six months. The market is not a thermometer, it's a barometer.However, the stock market is uneven to an unusual degree. A number of share prices have been hit hard, but many others are near their highs, a mixture that throws a haze over the picture down the road.In the financial world, for example, the share prices of securities firms are strong but those of banks and savings and loans are weak.
NEWS
By Jacques Kelly, The Baltimore Sun | June 11, 2013
Mildred Kern, an original resident of the North Oaks Retirement Community who had worked overseas for the United Nations, died of heart disease Sunday at her home. She was six days short of turning 105. "She was our oldest resident, and she was our very first resident," said Mark E. Pressman, the retirement community's executive director. "She and her sister actually moved in before the building was finished. She showed the first apartments at times and was actively interested in our growth.
NEWS
By Robert B. Reich | June 5, 2013
Economic forecasters exist to make astrologers look good. But the recent jubilance is enough to make even weather forecasters blush. "The economy is going gangbusters! Just look at consumer spending!" "Look at home prices! Look at the bull market!" Please. I can understand the jubilation in the narrow sense that we've been down so long, everything looks up. Plus, economists who are paid by Wall Street or corporations tend to cheerlead because they believe that if consumers and businesses think the future will be great, they'll buy and invest more -- thereby creating a self-fulfilling prophecy.
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