Baltimore Business Journal articles from August 1990

Baltimore Business Journal archives from August 1990

Credit cards offset MNC bank losses. (MNC Financial Inc.)
August 27, 1990... Credit cards offset MNC bank losses Banks lose $150M through first half Waves of bad news have buffeted MNC Financial Inc., but chairman Alan P. Hoblitzell Jr. is out to show that his company is not sinking. Hoblitzell earlier...

Schelle firm gets permit. (American Personal Communications Inc.)
August 27, 1990... Schelle firm gets permit The Washington Post Co. and Baltimore-based American Personal Communications Inc. have formed a limited partnership to develop an experimental portable wireless telephone communications system for use in...

Finley to the rescue. (Timothy L. Finley)
August 27, 1990... Finley to the rescue Jos. A. Bank pins its hopes on North Carolina turnaround artist He's turned around a chain of five and dimes and a Georgia meat canner. His firm is helping restructure the bankrupt fortune of Texas' Hunt family. ...

Summit Bank joins growing ranks of community banks.
August 27, 1990... Summit Bank joins growing ranks of community banks The success of Baltimore's largest commercial banks has two career bankers thinking small. Bucking a "bigger is better" trend, bankers W. Griffin Morrel Jr. and William E. Sommers last...

Box factory to add third shift. (St. Joe Container Co.)
August 27, 1990... Box factory to add third shift A Baltimore cardboard box factory will add a third shift and will expand its workforce by 30 people after a sister plant in Wilmington, Del., shuts down in the next two months. The St. Joe Container Co....

Waverly buys Pa. medical publisher. (Harwal Publishing Co.)
August 27, 1990... Waverly buys Pa. medical publisher Waverly Inc. agreed to acquire Harwal Publishing Co., a Media, Pa.-based publisher of medical review books called the National Medical Series. Waverly, a Baltimore-based publisher and printer of...

State's manufacturing climate ranks near the bottom nationwide. (Maryland)
August 27, 1990... State's manufacturing climate ranks near the bottom nationwide Maryland's manufacturing climate ranked near the bottom in a recent survey by a national consulting firm. Of the 21 states considered to have low manufacturing intensity,...

Builders feel the squeeze as market continues to tighten.
August 27, 1990... Builders feel the squeeze as market continues to tighten The Thomas P. Harkins Inc. construction company owns a hole in the ground in Baltimore. That hole should now be well on its way to being a 10-story commercial building, but...

Contracts find niches are helpful ports in the storm. (includes related article on public sector jobs)
August 27, 1990... Contractors find niches are helpful ports in the storm With commercial building on the wane, general contractors with specialized construction skills are filling in the office and retail gaps with jobs that require craftsmanship. ...

Superfund, OSHA open new market for Hazmat Training. (Hazmat Training, Information and Services Inc.)
August 27, 1990... Superfund, OSHA open new market for Hazmat Training Over the past few years the federal government has passed several laws designed to protect individuals working with hazardous materials. Perhaps the best-known law is the 1986 Superfund...

Virginia firm plays matchmaker for U.S. and Soviet construction firms. (Construction Marketing and Trading Inc.)
August 27, 1990... Virginia firm plays matchmaker for U.S. and Soviet construction firms June Q. Koch is becoming quite the international matchmaker these days. As president and co-founder of Vienna, Va.-based Construction Marketing and Trading Inc.,...

PHH Corp. (proxy report excerpts) (company profile)
August 27, 1990... PHH Corp. In the coming year, PHH Corp. will begin focusing resources on its core vehicle management and employee relocation and real estate management operations. The company last year shed its facilities management services operations. The...

IGC. (Interstate General Co.) (Earnings and Dividends )
August 27, 1990... IGC Interstate General Co. has authorized a cash distribution of 20 cents per class A unit, payable Sept. 1 to unitholders of record on Aug. 21. Interstate General reported net income of $3.15 million, 31 cents per share, on revenue of $4...

Avemco. (Earnings and Dividends)
August 27, 1990... Avemco Avemco Corp. has increased its regular quarterly dividend on its common stock to 11 cents per share, payable on Oct. 24 to shareholders of record on Sept. 28.

Carroll County Bank. (Earnings and Dividends)
August 27, 1990... Carroll County Bank Carroll County Bank and Trust Co. has declared two dividends on Aug. 8. A cash dividend of 19 cents per share will be paid on Sept. 15 to stockholders of record Sept. 1. This dividend is a 11.8 percent increase over the...

Citizens. (Citizens Bancorp.) (Earnings and Dividends)
August 27, 1990... Citizens Citizens Bancorp has authorized a quarterly cash dividend of 27 cents per share, payable Sept. 28 to stockholders of record as of Sept. 7.

Merry-Go-Round. (Merry Go Round Enterprises Inc.) (Earnings and Dividends)
August 27, 1990... Merry-Go-Round Merry-Go-Round Enterprises Inc. has announced revenue of $39.6 million for the four-week period ending Aug. 4, up from revenue of $29.4 million for the corresponding period in 1989.

Allen N. Walpert and Son Inc. (New Contracts)
August 27, 1990... Allen N. Walpert & Son Inc. has hired Fast & Associates Inc. to develop a comprehensive direct mail program. Walpert is a commercial electrical contractor.

LDR International Inc. (New Contracts)
August 27, 1990... LDR International Inc. has been selected by Columbus, Ohio to work with its city planning department in preparation of a citywide master plan. The Columbus project will be programmed over an 18-month period and led by LDR principal Bert...

RDA Consultants Limited. (New Contracts)
August 27, 1990... RDA Consultants Limited has been hired by Microlog Corp. to provide accounting and manufacturing software and training services.

MicroProse's Stealey racks up points, venture capital. (J.W. Stealey)
August 27, 1990... MicroProse's Stealey racks up points, venture capital If you're having problems finding the chief executive at MicroProse Simulation Software Inc., check the coin-operated video game room at the company's headquarters in Hunt Valley. ...

Terminal operator dredges channel. (Curtis Bay Co.)
August 27, 1990... Terminal operator dredges channel The Curtis Bay Co. is spending about $1 million to dredge its access channel and take advantage of the deepening of the Port of Baltimore's main shipping channel. Curtis Bay, which runs coal terminals...

City targets business parks in $251 construction budget. (Baltimore)
August 27, 1990... City targets business parks in $251M construction budget Business parks came out ahead in the city's $251 million construction budget for 1991. Hoping to attract new businesses to The Port Covington Business Park, $2.4 million will be...

Uni-Marts. (Earnings and Dividends)
August 20, 1990... Uni-Marts Uni-Marts Inc. has declared a 10 percent stock dividend on its class A and B common stock. The company has outstanding approximately 4 million shares of Class A and 2.3 million shares of Class B. Fractional shares will be paid in...

Cadmus Communications. (Earnings and Dividends)
August 20, 1990... Cadmus Communicationss Cadmus Communications Corp. declared a regular quarterly cash dividend of 5 cents per share, payable Sept. 5 to shareholders of record as of Aug. 20. Cadmus owns Baltimore's Garamond/Pridemark Press.

Merry-Go-Round. (Earnings and Dividends)
August 20, 1990... Merry-Go-Round Merry-Go-Round Enterprises Inc. has declared a regular quarterly cash dividend of 2.5 cents per share on its common stock. The dividend is payable on Aug. 31 to shareholders of record as of August 17.

Atlanfed Bancorp. (Earnings and Dividends)
August 20, 1990... Atlanfed Bancorp Atlanfed Bancorp Inc. has declared net income of $258,040, or 30 cents per share, for the quarter ended June 30, compared to $83,759, or 10 cents per share for the same period in 1989. The company's total assets were...

Baltimore Bancorp. (Earnings and Dividends)
August 20, 1990... Baltimore Bancorp Baltimore Bancorp has reported net income of $5.4 million, 42 cents per share, on total assets of $3.5 billion for its second quarter ended June 30, down from earnings of $5.7 million, 44 cents per share, on assets of...

Kitchen Bazaar. (Earnings and Dividends)
August 20, 1990... Kitchen Bazaar Kitchen Bazaar Inc. has reported a net loss of $474,000 on revenue of $2.3 million for its first quarter ended April 30. For the same period last year, the specialty retailer declared a loss of $203,000 on revenue of $1.7...

UNC. (Earnings and Dividends)
August 20, 1990... UNC UNC Inc. reported net earnings of $626,000, 4 cents per share, on revenue of $92.3 million for its second quarter, down from $1.6 million, a dime per share, on revenue of $73.7 million for the same period last year.

Communications and Systems Specialists Inc. (New Contracts)
August 20, 1990... Communications and Systems Specialists Inc. Communications and Systems Specialists Inc. has been awarded a $67,500 contract from the Department of Defense to supply microcomputers over the next several months.

Mass Transit Administration. (New Contracts)
August 20, 1990... Mass Transit Administration The state Mass Transit Administration has retained the George Hyman Construction Co. to work as general contractor of the Johns Hopkins subway station in Baltimore. Hyman's contract includes the structure and...

Cherry Hill Construction Corp. (New Contracts)
August 20, 1990... Cherry Hill Construction Corp. Cherry Hill Construction Corp. has been awarded a $7.9 million contract by the State Highway Administration as part of a two-part project to connect Warren Road with Interstate 83. The extension of Warren Road...

Shirley Contracting Corp. (New Contracts)
August 20, 1990... Shirley Contracting Corp. of Lorton Shirley Contracting Corp. of Lorton, Va., has been awarded a $16.7 million contract by the State Highway Administration to construct a diamond interchange of Route 100/Route 176 and the Baltimore-Washington...

Bidding starts on Washington bank. (Washington Bank of Maryland)
August 20, 1990... Bidding starts on Washington Bank Two groups are bidding to acquire the Baltimore-based Washington Bank of Maryland, executives at the bank said last week. The bank was put in play after its parent company, Washington Bancorporation,...

Iraqi war spills into area firms. (Allen U. Bevier Inc.)
August 20, 1990... Iraqi war spills into area firms When President Bush ordered all trading with Iraq to stop, the largest international contract for Baltimore-based Allan U. Bevier Inc. came to a sudden halt and the flagship for American business expansion...

Last minute workout stops foreclosure on Equitable II. (Equitable Tower II office building, Baltimore, Maryland)
August 20, 1990... Last-minute workout stops foreclosure on Equitable II Developer Charles Ackerman last week renegotiated a loan from Provident Bank of Maryland, avoiding a foreclosure proceeding against the Equitable Tower II complex. Earlier this...

Webster sells out to St. Louis chain. (Webster Clothes Inc.; Edison Brothers Stores Inc.)
August 20, 1990... Webster sells out to St. Louis chain After two years of disappointing financials, Webster Clothiers Inc. is to be acquired by St. Louis-based Edison Brothers Inc., the owner of shopping mall mainstays like the Wild Pair, Bakers & Leeds and...

Marriott adjustment cuts corporate earnings. (Marriott Corp. Food and Services Management Division)
August 20, 1990... Marriott adjustment cuts corporate earnings Marriott Food and Services Management, a division of Bethesda-based Marriott Corp., will have to adjust certain past charges to clients that will result in a reduction of third quarter net...

With first firm in bankruptcy, executive recruiters start over. (HRM Search Team Inc.)
August 20, 1990... With first firm in bankruptcy, executive recruiters start over After putting MBC Systems Inc. in the hands of a federal bankruptcy court, principals of the defunct executive search firm last week re-emerged as owners of a scaled-back...

Merger of caterers stopped before it could get started. (Fiske Caterers; Country Fare Group; Mamma Ilardo's Pizzeria)
August 20, 1990... Merger of caterers stopped before it could get started Less than a month after announcing plans to merge, Fiske Caterers, the Country Fare Group and Mamma Ilardo's Pizzerias have called it quits. Blake Goldsmith, president of Fiske...

Nova turns to public market to finance continued R&D. (Nova Pharmaceutical Corp.; research and development)
August 20, 1990... Nova turns to public market to finance continued R&D As the nation slips into a recession and the stock market tumbles, Baltimore-based Nova Pharmaceutical Corp. hopes to raise $25 million in the public market to finance research and...

Genex receives patent covering new protein.
August 20, 1990... Genex receives patent covering new protein Genex Corp. of Gaithersburg received a U.S. patent protecting one of its bioengineered products. The patent covers its single-chain antigen-binding protein. These projuteins are bioengineered...

New software relieves small banks' regulatory headaches. (Disc Inc.)
August 20, 1990... New software relieves small banks' regulatory headaches Disc Inc., a Pikesville computer company, introduced three new software products last month aimed at relieving some of the headaches of regulatory concerns for smaller financial...

Crown Central stock declines. (Crown Central Petroleum Corp.)
August 20, 1990... Crown Central stock declines Stock in Crown Central Petroleum Corp. fell in recent weeks as investors feared the mid-sized oil refiner would be squeezed by the rising crude prices on one hand and President George Bush's call for price...

J.P. Bolduc. (People on the Move)
August 20, 1990... J.P. Bolduc J.P. Bolduc has been named president and chief operating officer of W.R. Grace & Co. Bolduc, a Maryland native, was previously vice chairman for the chemical company. As vice chairman, he was responsible for Grace's energy,...

Webster Clothes Inc. (Proxy Report Excerpts) (company profile)
August 20, 1990... Webster Clothes Inc. Webster Clothes Inc. recently agreed to be acquired for up to $6 a share by Edison Brothers Stores and will continue operating as a wholly owned subsidiary. Although Webster Clothes Inc. was able to increase revenue last...

Law firms dissolve union. (Frank, Bernstein, Conaway and Goldman; Late News)
August 13, 1990... Law firms dissolve union Baltimore law firm Frank, Bernstein, Conaway & Goldman last week dissolved a five-year merger with Virginia firm Stauffer & Dorn. The Virginia firm's work with savings and loans conflicted with Frank...

C&D Canal may go deeper. (Chesapeake and Delaware Canal)
August 13, 1990... C&D Canal may go deeper State to pay corps $2.2M for study to improve shipping channel The state will spend $2.2 million to study the benefits of deepening the Chesapeake and Delaware Canal -- a project that could boost the...

Baron's 200 files for bankruptcy.
August 13, 1990... Baron's 200 files for bankruptcy Big tippers don't show for upscale restaurant Charles Mark Nichols thought Hunt Valley's growth boom would mean big business for his upscale restaurant, Baron's 200. But growth in that part of...

Bills would tighten the reins on maverick cable industry.
August 13, 1990... Bills would tighten the reins on maverick cable industry Amid charges of excessively high rates and poor service, two bills in Congress could tighten the reins on the currently unregulated cable television industry. But local cable...

Contractor to plead guilty to illegally handing PCBs. (H & H Testing Inc.)
August 13, 1990... Contractor to plead guilty to illegally handling PCBs A Timonium electrical contractor is expected to plead guilty Wednesday in Baltimore County Circuit Court to one felony count of illegally storing highly toxic PCBs, the firm's attorney...

Mounting real estate losses continue to weaken banks. (Maryland)
August 13, 1990... Mounting real estate losses continue to weaken banks Troubled real estate loans in Maryland have risen dramatically this year, but problems here are far less severe than in other parts of the country, analysts said last week. Maryland...

Computer Advisory Group launches Baltimore invasion.
August 13, 1990... Computer Advisory Group launches Baltimore invasion One of the nation's fastest growing companies, Computer Advisory Group, a Pennsylvania-based manufacturing and information systems consulting firm, is bringing a daring business plan to...

Environmental Elements inks licensing deal.
August 13, 1990... Environmental Elements inks licensing deal Environmental Elements Corp. has signed a long-term technology transfer and licensing agreement with Lurgi Gmbh of West Germany that gives the Baltimore company exclusive rights to manufacture and...

Everard O. Rutledge. (promoted at Liberty Medical Center Inc.) (People)
August 13, 1990... Everard O. Rutledge has been named president and chief executive officer of Liberty Medical Center Inc., Lutheran Health Care Corp. and two other affiliated corporations. Rutledge was senior vice president and chief operating officer for the...

Herman Jones. (promoted at Glass Substance Abuse Programs Inc.) (People)
August 13, 1990... Herman Jones has been named president of Glass Substance Abuse Programs Inc., an affiliate of Glass Mental Health Centers Inc. Jones will be responsible for the strategic planning of all substance abuse programs and overseeing the research...

Loyola Capital Corp. (proxy report excerpts) (company profile)
August 13, 1990... Loyola Capital Corp. Loyola Capital Corp., parent company of Loyola Federal Savings and Loan Association, posted healthy profits last year despite the onset of a national crisis in the savings and loan industry. The company announced that...

Baltimore Bancorp. (Insider Trading)
August 13, 1990... Baltimore Bancorp. -- James H. Langhead, vice president, purchased and exercised options for 480 shares of common stock between $3.44 and $12.13 per share on July 25, and now directly holds 5,333 common.

Martin Marietta Corp. (Insider Trading)
August 13, 1990... Martin Marietta Corp. -- Richard G. Adamson, vice president, sold 1,237 shares of common stock at $41 per share on April 25, and now directly holds 3,042 common.

PHH Corp. (Insider Trading)
August 13, 1990... PHH Corp. -- Thomas V. King, director, purchased 1,000 shares of common stock at $35.88 per share on June 6, and now directly holds 2,000 common.

Rouse Co. (Insider Trading)
August 13, 1990... Rouse Co. -- Mathias J. DeVito, chairman, disposed of by gift 470 shares of common stock at $21.38 per share on July 20, and now directly and indirectly holds 700,660 common.

Second National Federal Savings Bank. (Insider Trading)
August 13, 1990... Second National Federal Savings Bank -- Wayne A. Johnson, director, purchased 2,000 shares of common stock at $6 per share on April 19, and now directly holds 13,000 common.

Alex. Brown. (Earnings and Dividends)
August 13, 1990... Alex. Brown Alex. Brown Inc. earned $4.5 million, or 29 cents per share, in the second quarter on revenue of $77.2 million. In the same period of 1989, the firm earned $4.2 million, or 26 cents per share on revenue of $70.8 million. The...

Environmental Elements. (Earnings and Dividends)
August 13, 1990... Environmental Elements Environmental Elements Corp. earned from continuing operations for the first quarter ended June 30 of $1.2 million, or 24 cents per share, on revenues of $21.4 million. In 1989 for the same quarter, net income was...

Ryland. (Earnings and Dividends)
August 13, 1990... Ryland The Ryland Group Inc. had net earnings for the second quarter of $5.7 million, a 46 percent decrease compared to 1989's second quarter. Primary earnings per share for the second quarter were 40 cents, compared to 79 cents in 1989....

Waverly. (Earnings and Dividends)
August 13, 1990... Waverly Waverly Inc. posted a net income for the second quarter of $1.1 million or 27 cents per share, on sales of $29.6 million. In the same period of 1989, Waverly earned $790,000 or 22 cents per share, on sales of $29.6 million.

Avemco. (Earnings and Dividends)
August 13, 1990... Avemco Avemco Corp. has earned in the second quarter of $2.8 million, or 36 cents per share, on revenue of $21 million. Last year for the period, the insurer earned $4.1 million, or 46 cents per share, on revenues of $40.6 million.

Crown Central Petroleum Corp. (Earnings and Dividends)
August 13, 1990... Crown Central Crown Central Petroleum Corp. has earned $15.2 million, or $1.54 per share, in net income for the second quarter on revenues of $492 million. This compares to net income of $6.3 million, or 62 cents per share, on revenues of...

RAC Income Fund. (Earnings and Dividends)
August 13, 1990... RAC Income Fund RAC Income Fund Inc. has declared a monthly dividend of 11 cents per share to holders of record on Aug. 10, payable Aug. 31.

USF&G Corp. (Earnings and Dividends)
August 13, 1990... USF&G USF&G Corp. has declared net income of $5 million, or 1 cent per share for the second quarter, on revenue of $1.123 billion. Last year for the period, USF&G posted a $1 million loss on revenue of $1.138 billion.

M. Ambach and Co. (Mergers and Acquisitions)
August 13, 1990... Mergers and Acquisitions Executive Sounding Board Ltd. has brokered the recent sale of Baltimore-based M. Ambach & Co. to the H.J. Baker Linen Co. of Mahwah, N.J. Ambach is a distributor of textiles and case goods to the institutional trade....

Legg Mason. (Earnings and Dividends)
August 6, 1990... Legg Mason Inc. has increased its regular quarterly dividend to 32 cents per share annually. The next dividend is payable Oct. 15 for shareholders of record on Sept. 18.

T. Rowe Price. (Earnings and Dividends)
August 6, 1990... T. Rowe Price Associates Inc. reported net income for its second quarter of $3.4 million, 23 cents per share, down from $7.6 million, 52 cents per share, for the same period last year.

Mid Atlantic Medical. (Earnings and Dividends)
August 6, 1990... Mid Atlantic Medical Services Inc. reported net income for its first two quarters of $3.2 million, 46 cents per share, up from $941,000, 14 cents per share, from the same period last year.

BG&E. (Earnings and Dividends)
August 6, 1990... Baltimore Gas and Electric Co. reported net income for its second quarter of $16.3 million, 20 cents per share, down from $36.3 million, 45 cents per share, for the same period last year.

Alex. Brown. (Earnings and Dividends)
August 6, 1990... Alex. Brown Inc. reported net income for its second quarter of $4.5 million, 29 cents per share, up from $4.3 million, 26 cents per share, for the same period last year. The quarterly dividend was increased to 7 cents a share payable Aug. 15...

Davis Associates. (Mergers and Acquisitions)
August 6, 1990... Davis Associates, a management consulting firm, has merged with the accounting firm of Bavis & Associates P.A. The new organization will be called The Insight Group.

The Maryland Stadium Authority. (New Contracts)
August 6, 1990... The Maryland Stadium Authority has awarded its first mechanical construction contract to T.A. Gorman Inc., a mechanical contracting firm in Baltimore. The $621,000 contract is for the installation of underground utilities at the new baseball...

Fast & Associates Inc. (New Contracts)
August 6, 1990... Fast & Associates Inc. has been named the agency of record for Oak Contracting Corp. The agency will develop print, collateral' and direct mail materials. The print campaign will break this September in trade and business publications.

The John D. Lucas Printing Co. (New Contracts)
August 6, 1990... The John D. Lucas Printing Co. has won an assignment from The Eastern Press to print the signed first edition of "The Field Guide Art of Roger Tory Peterson." The 11-by-17, two-volume set whose leather-bound, gilt-edged limited first edition...

Daft-McCune-Walker Inc. (New Contracts)
August 6, 1990... Daft-McCune-Walker Inc. has been awarded a contract by the state Office of Planning to compile a series of maps and a digital data base describing land use and land cover for the 23 Maryland counties and Baltimore City. The contract also...

The Science and Technology Board of the Government of Thailand. (New Contracts)
August 6, 1990... The Science and Technology Board of the government of Thailand has awarded a $70,000 contract to BioTechnology International, a program within the University of Maryland's International Development Management Center. The contract is part of an...

RDA Consultants Limited. (New Contracts)
August 6, 1990... RDA Consultants Limited, a Hunt Valley-based computer consulting firm, has been awarded contracts with the following clients: American International, Cannon Instrument Corp., Fairfax Cable Channel 10, GM Construction Co., General Research...