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By Lorraine Mirabella, The Baltimore Sun | May 4, 2010
Two former executives of TVI Corp. and their accountant have pleaded guilty to roles in defrauding the Glenn Dale-based manufacturer of more than $1.4 million. TVI's former chief executive, Richard V. Priddy, 61, of Glenn Dale and the former executive vice president, Charles L. Sample, 62, of Annapolis, as well as their personal accountant, Joseph M. Broullire, 57, of Bethesda pleaded guilty last week to conspiracy to commit wire fraud, the Maryland U.S. attorney's office, the Internal Revenue Service and Federal Bureau of Investigation announced last week.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | May 4, 2010
Two former executives of TVI Corp. and their accountant have pleaded guilty to roles in defrauding the Glenn Dale-based manufacturer of more than $1.4 million. TVI's former chief executive, Richard V. Priddy, 61, of Glenn Dale and the former executive vice president, Charles L. Sample, 62, of Annapolis, as well as their personal accountant, Joseph M. Broullire, 57, of Bethesda pleaded guilty last week to conspiracy to commit wire fraud, the Maryland U.S. attorney's office, the Internal Revenue Service and Federal Bureau of Investigation announced last week.
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BUSINESS
By JAY HANCOCK | June 18, 2008
TVI Corp.'s directors would have more credibility in arguing for the status quo if the company's shares had traded for more than 50 cents any time recently. Or if the seller of first-responder equipment hadn't lost $30 million last year. Or if directors hadn't built impermeable barriers against hostile takeovers. The two insurgents who hope to join the five-seat board probably won't get TVI's shares back to $5, a level last achieved in 2005. But the guys in charge have been trying for three years, with demonstrable failure.
BUSINESS
April 2, 2009
Energy regulation bill passes Senate vote A plan to move the state back to a regulated energy market won approval Wednesday night in the Maryland Senate, after lawmakers sparred over whether the proposal would save ratepayers money. The Senate voted 27-19 for the plan that has the backing of Gov. Martin O'Malley. The Democratic governor said in a statement after the vote that he looks forward to working with the House of Delegates on the bill. But with less than two weeks left in the legislative session, the plan's fate is unclear.
BUSINESS
By Allison Connolly and Allison Connolly,Sun reporter | May 9, 2007
Shareholders vented their frustration yesterday at TVI Corp. after the company linked two top executives who were asked to resign last month to $1.7 million in overpayments to suppliers. The Glenn Dale manufacturer of decontamination systems and emergency shelters also posted a loss for the fiscal first quarter yesterday. The financial woes were exacerbated by the cost of investigating whistle-blower allegations that the two executives, former chief executive Richard V. Priddy and Executive Vice President Charles L. Sample, caused the company to overpay suppliers between 2003 and 2005.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | November 2, 2006
TVI Corp., a Glenn Dale company that makes first responder systems, said yesterday that it acquired Signature Special Event Services LLC for $21.8 million cash. The acquisition of privately held Signature Special Event Services, or SSES, brings to TVI a shelter rental company with corporate, sport and government clients. Frederick-based SSES has offices in California, Florida, Kentucky and North Carolina. "One of the things we've been trying to do as we grow the company is we've been trying to diversify the markets we address, and this does a good job [of that]
BUSINESS
By Ted Shelsby and Ted Shelsby,Sun Staff Writer | April 14, 1995
TVI Corp., a small, financially struggling military contractor in Beltsville, yesterday announced a restructuring of its top management, including the resignation of its chief executive.Brent Molovinsky will be succeeded as president, chairman and chief executive by Allen E. Bender, a retired Navy officer with a degree in finance. Mr. Bender was appointed to TVI's board on April 4.Mr. Molovinsky, who will serve the company as a consultant, said in his resignation statement that he was leaving "to pursue other business interests not related to TVI."
BUSINESS
By Kim Clark and Kim Clark,Sun Staff Writer | May 3, 1995
A dispute between the current and previous managers of a financially troubled military supplier escalated yesterday, as the new managers of TVI Corp. said they will report to the Securities and Exchange Commission about questionable "conduct" of the company's previous president.Brent Molovinsky, the former president of the Beltsville company, resigned last month.Allen E. Bender, who took over as president three weeks ago, said the company's previous statements about its profitability, bankruptcy status and patents were incorrect.
BUSINESS
By Allison Connolly and Allison Connolly,SUN REPORTER | November 9, 2007
Despite shrinking cash and questions from shareholders about whether it can survive, TVI Corp. said yesterday that its turnaround is on track. The Glenn Dale manufacturer of decontamination shelters reported improved sales for the third quarter but still posted a loss. "While we all would like to speed up the process, we believe our management team is setting realistic, tangible, short- and long-term goals for TVI and is working at a steady, substantial pace," interim chief executive Harley A. Hughes told shareholders during a conference call to discuss third-quarter results.
BUSINESS
By M. William Salganik and M. William Salganik,Sun reporter | August 9, 2007
Glenn Dale-based TVI Corp., which makes products and decontamination shelters for emergency workers, named its interim head as its president and chief executive officer yesterday, and reported a loss of $14.8 million in the second quarter. Shares dropped 22 cents to close at 38 cents - a 37 percent fall, continuing a slide that has followed financial and management problems. TVI shares traded at just under $3 as recently as October. TVI named Harley A. Hughes president and chief executive.
BUSINESS
By JAY HANCOCK | June 18, 2008
TVI Corp.'s directors would have more credibility in arguing for the status quo if the company's shares had traded for more than 50 cents any time recently. Or if the seller of first-responder equipment hadn't lost $30 million last year. Or if directors hadn't built impermeable barriers against hostile takeovers. The two insurgents who hope to join the five-seat board probably won't get TVI's shares back to $5, a level last achieved in 2005. But the guys in charge have been trying for three years, with demonstrable failure.
BUSINESS
By Laura Smitherman and Laura Smitherman,Sun reporter | January 1, 2008
In the midst of any stock market crisis, there's opportunity. That's what investors saw for FTI Consulting Inc. during the subprime mortgage meltdown. The Baltimore-based company advises businesses on crisis management and restructuring, and its stock soared 121 percent last year as it is expected to bring in more business from companies needing to change their business plans in the wake of the debacle. The rise of FTI's stock demonstrates how the subprime crisis dominated stock markets in 2007 for beneficiaries as well as casualties.
BUSINESS
By Allison Connolly and Allison Connolly,SUN REPORTER | November 9, 2007
Despite shrinking cash and questions from shareholders about whether it can survive, TVI Corp. said yesterday that its turnaround is on track. The Glenn Dale manufacturer of decontamination shelters reported improved sales for the third quarter but still posted a loss. "While we all would like to speed up the process, we believe our management team is setting realistic, tangible, short- and long-term goals for TVI and is working at a steady, substantial pace," interim chief executive Harley A. Hughes told shareholders during a conference call to discuss third-quarter results.
BUSINESS
By M. William Salganik and M. William Salganik,Sun reporter | August 9, 2007
Glenn Dale-based TVI Corp., which makes products and decontamination shelters for emergency workers, named its interim head as its president and chief executive officer yesterday, and reported a loss of $14.8 million in the second quarter. Shares dropped 22 cents to close at 38 cents - a 37 percent fall, continuing a slide that has followed financial and management problems. TVI shares traded at just under $3 as recently as October. TVI named Harley A. Hughes president and chief executive.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Columnist | May 20, 2007
Sure things looked no surer than the business opportunity presented to TVI Corp. on Sept. 11, 2001. The Glenn Dale company made decontamination shelters and other equipment used by rescuers after the Pentagon terrorist attack. Government was about to blow big money on such products, and TVI's chief executive soon spoke confidently of "increased interest," "numerous product inquiries" and "higher order flow in the coming year." So how in the world could TVI flub it so spectacularly? Last week TVI stock was trading for 66 cents, one-tenth of its level three years ago. The company's CEO and another top executive just left under a cloud, with the company turning evidence over to unidentified authorities.
BUSINESS
By Allison Connolly and Allison Connolly,Sun reporter | May 9, 2007
Shareholders vented their frustration yesterday at TVI Corp. after the company linked two top executives who were asked to resign last month to $1.7 million in overpayments to suppliers. The Glenn Dale manufacturer of decontamination systems and emergency shelters also posted a loss for the fiscal first quarter yesterday. The financial woes were exacerbated by the cost of investigating whistle-blower allegations that the two executives, former chief executive Richard V. Priddy and Executive Vice President Charles L. Sample, caused the company to overpay suppliers between 2003 and 2005.
BUSINESS
By Allison Connolly and Allison Connolly,Sun reporter | March 2, 2007
Glenn Dale-based TVI Corp. reported improved sales for the fourth quarter and year while profit continued to dwindle. But based on orders so far this year and new products in the pipeline, officials say 2007 should be a turning point for the fledgling company. TVI, which sells collapsible shelters and decontamination systems to first responders, hospitals and the military, has struggled with cash flow problems, which officials have blamed on the uncertainty of government contracts. But armed with a new contract from the U.S. Army to begin long-awaited production of its line of filter canisters, which are used in face masks to guard against chemical warfare, TVI President and Chief Executive Officer Richard V. Priddy believes the company is on a new course.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | April 20, 2007
With its financial performance and stock price sagging, two top executives abruptly resigned from Glenn Dale-based TVI Corp. and the company's board named two of its directors to fill their spots, the company announced yesterday. Richard Priddy, who was TVI's president, chief executive officer and member of the board, and Charles Sample, who was the executive vice president and a board member, resigned effective immediately, the company said. Replacing them are Lt. Gen. Harley Hughes as interim president and CEO and Don Yount as interim senior vice president and chief operating officer.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | April 20, 2007
With its financial performance and stock price sagging, two top executives abruptly resigned from Glenn Dale-based TVI Corp. and the company's board named two of its directors to fill their spots, the company announced yesterday. Richard Priddy, who was TVI's president, chief executive officer and member of the board, and Charles Sample, who was the executive vice president and a board member, resigned effective immediately, the company said. Replacing them are Lt. Gen. Harley Hughes as interim president and CEO and Don Yount as interim senior vice president and chief operating officer.
BUSINESS
By Allison Connolly and Allison Connolly,Sun reporter | March 2, 2007
Glenn Dale-based TVI Corp. reported improved sales for the fourth quarter and year while profit continued to dwindle. But based on orders so far this year and new products in the pipeline, officials say 2007 should be a turning point for the fledgling company. TVI, which sells collapsible shelters and decontamination systems to first responders, hospitals and the military, has struggled with cash flow problems, which officials have blamed on the uncertainty of government contracts. But armed with a new contract from the U.S. Army to begin long-awaited production of its line of filter canisters, which are used in face masks to guard against chemical warfare, TVI President and Chief Executive Officer Richard V. Priddy believes the company is on a new course.
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