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BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | April 13, 2002
Top Deutsche Bank executive Margaret Preston is leaving the company after nearly two decades to run the private-wealth-management unit of Mercantile Bankshares Corp., Mercantile confirmed yesterday. "Margaret is a superb professional, and will add significantly to our ability to provide leading investment and wealth-management services to our clients," said Wallace Mathai-Davis, the new chairman of wealth management for Baltimore-based Mercantile. Preston, 44, is a Harvard Business School alumna and investment industry veteran whose roles have ranged from securities analyst to chief operating officer, and has a proven record of building businesses along the way. The move, effective early next month, will keep Preston in Baltimore, where she said she would remain a trustee of the Alex.
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NEWS
By Ivan Penn and Ivan Penn,SUN STAFF | September 30, 2004
Multimillionaire developer and philanthropist Henry J. Knott Sr. warned his children not long before his death of the "pitfalls of acquiring wealth," troubles he thought he could minimize with detailed wills drafted for him and his wife. Despite the warning and the wills, the next generation of the well-heeled Baltimore family has found itself entangled in a dispute between two siblings responsible for their parents' estates and others on a family foundation board over spending as much as $17 million.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | July 16, 1999
The founder of a Hagerstown-based company that sold "Inside Secrets" of wealth and falsely promised money for real estate joint ventures was sentenced yesterday to 51 months in federal prison, nine months less than the maximum 60 months allowed in sentencing guidelines.U.S. District Judge J. Frederick Motz also fined John Thomas Polk a maximum $250,000 and ordered him to pay $2 million in restitution in the mail-fraud case against Peak Performance and its successor company, Success Achievement Systems.
NEWS
June 2, 1998
B. J. HABIBIE, who became president of Indonesia for the next five years upon President Suharto's May 21 resignation, has given demonstrators more than he initially thought required.He has agreed to an election next year, without saying who would be eligible or how free the parties would be. His attorney general has launched an investigation into Suharto's legendary wealth and corruption, which might or might not be a whitewash.The election pledge has not appeased the opposition, which wants the tame legislative assembly to pick an interim president, untainted by Suhartoism, this summer.
NEWS
By Erin Texeira and Erin Texeira,SUN STAFF | July 31, 1998
WASHINGTON -- African-Americans own about eight cents of wealth for every dollar of wealth owned by whites, a gap that is rooted in racism and difficult to narrow because blacks typically have less money than whites to pass on to their children, according to a study released yesterday by the National Urban League."
NEWS
By Rafael Alvarez and Rafael Alvarez,SUN STAFF | November 30, 1995
Henry J. Knott Sr. -- a Baltimorean who made and gave away hundreds of millions of dollars in a life of 89 years -- was eulogized yesterday as a harsh critic of wealth.Standing before a funeral crowd of more than 800 at the Cathedral of Mary Our Queen, Patricia K. Smyth remembered a letter her father sent to each of his 12 children in 1990, one that pointedly addressed money.The oldest of the one-time bricklayer's children, Mrs. Smyth read from the letter, which included this wisdom: "Those who want to be rich are falling into a trap.
FEATURES
By Laura Lippman and Laura Lippman,SUN STAFF | March 18, 2000
In 1984, Dee Wright was reading a magazine article about Michael Jackson when she happened upon this stray fact: While Jackson slept in California, he was making money in Europe. It was as if an imaginary cash register was going ka-ching every second of the day, as dollars, pounds, lira and deutsche marks flowed into Jackson's coffers. Perhaps you, too, read this article, or a similar one. But the difference between you and Wright is that she underlined the sentences, filed them away, figuratively if not literally.
NEWS
By Carol J. Williams and Carol J. Williams,SPECIAL TO THE SUN | November 22, 2001
OSLO, Norway - Imagine a world so shielded from modern dangers that children accept candy from strangers. Think about a place where lifelong financial security is guaranteed, no matter how many layoffs, stock market crashes or catastrophic illnesses come your way. Consider the psychological well-being of belonging to a country where no one is homeless or hungry, where women and men are equal, where a pristine environment is reverentially protected and...
NEWS
By John Murphy and John Murphy,SUN STAFF | September 26, 1999
The signs of change are everywhere: In Westminster, shoppers jam the huge, warehouse-style stores that are springing up on once-quiet streets. North of Bel Air, polo matches are drawing more and more participants. On the Eastern Shore, aging grocery stores are stocking their shelves with pricey organic vegetables and gourmet foods.Families moving to the outer suburbs are fueling a tremendous shift of wealth in the Baltimore region. That shift is fattening tax rolls and creating vast new shopping areas in once-rural counties while leaving older communities gasping for air.The rush of dollars to the outlying suburbs -- where new residents earn, on average, more than those who are moving out -- is staggering.
NEWS
By John Murphy and John Murphy,SUN FOREIGN STAFF | April 28, 2002
JWANENG, Botswana -- The spiraling dust devils, the gray, shadeless plains and the unbearable heat here on the fringes of the Kalahari Desert reveal nothing of the riches that lie just below ground. Carved into this desert landscape is a terraced pit -- large enough to swallow a skyscraper -- bursting with diamonds. More than gifts to warm a lover's heart, these precious stones are the secret to the success of this southern African nation of 1.5 million people. About one in three diamonds sold in the world comes from Botswana.
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