Baltimore Business Journal articles from August 1998

Baltimore Business Journal archives from August 1998

Ruling on Sierra job looms.(General Accounting Office to decide whether or not to force Sierra Military Health Services Inc. to rebid on Baltimore, MD, project)
August 7, 1998... Sierra Military Health Services Inc. could find out this month whether the federal government will force it to rebid on the $1.2 billion contract that brought it to Baltimore last year. Sierra Military Health awaits a U.S. General...

Through the storm.(Baltimore Marine Industries Inc turns around Sparrows Point shipyard in Baltimore, MD)(Company Profile)
August 7, 1998... Baltimore Marine breathes life into yard The Sparrows Point shipyard is no longer a shadow of its former self. Abandoned by Bethlehem Steel Corp. last fall because of poor sales, the shipyard was sold in October to Veritas Capital of...

Competition forces loan prices down.(Maryland, MD, banking industry)
August 7, 1998... Competition for solid loans has become fierce in the local banking arena, prompting a pricing squeeze and worries that credit quality could be slipping. Industry watchers say an influx of secondary lenders boasting cheaper interest rates...

Firm tearing into bio waste.(Cockeysville, MD-based Antaeus Group)
August 7, 1998... A Cockeysville company that developed a way to turn blood, syringes and other dangerous medical waste into harmless shreds is bringing its patented process to market. The Antaeus Group snagged a $200,000 contract last month to sell a...

Energy firm powers up control business.(Power Control Technologies)(Company Profile)
August 7, 1998... Samuel T. Woodside uses a simple analogy to explain what the newly formed Power Control Technologies does. The Hunt Valley company, a subsidiary of Energy Controls Group International, offers a service that works much like a home security...

Spectera keeps its eye on a growing business.(health care benefits firm nurtures lucrative eye care benefits business)(Company Profile)
August 7, 1998... Looking to concentrate on its growing eye-care benefits business, Woodlawn's Spectera Inc. sold off its dental plan business to a West Coast firm last month for an undisclosed sum. Spectera Inc., which provides health care benefits to more...

Playing a new game.(computer games industry in Baltimore, MD)
August 7, 1998... Growing computer games industry looks overseas for new customers World War II officially ended more than half of a century ago. But that hasn't stopped many Europeans - French, German, Russian and other nationalities - from duking it...

Legal papers with no paper.(Document Authentication Systems Inc's novel service)
August 7, 1998... For 10 years, friends Steve Bisbee and Doug Trotter talked about developing a system to create legally binding electronic documents. Four weeks ago it all came together. Their Document Authentication Systems Inc. unveiled a way to...

Carrollton Bancorp.(Proxy Report Excerpts)(Company Profile)
August 7, 1998... Corporate Profile Carrollton Bancorp is carving out a niche for itself in the electronic banking world. The Baltimore-based commercial bank, which now has 102 automated teller machines, has joined 22 ATM networks hoping to offer one-stop...

On top of the world.(Creditrust Corp)
August 14, 1998... Creditrust chief makes a mint off bad debt Joseph K. Rensin has made a fortune adhering to the adage that you can get more bees with honey than you can with vinegar. The 33-year-old chairman and chief executive officer of Creditrust...

Spat with owners led to doc's exit.(Pioneer Eye Care Inc. founder Dr Bert M. Glaser leaves after fighting with new owners of the firm)
August 14, 1998... A bitter legal spat this week between Pioneer Eye Care Inc. and its founder followed months of acrimony between him and the company's new owners. The fight came to a dramatic conclusion this week, when well-known eye surgeon and Pioneer...

Can doctor groups last?(Baltimore, MD-area physician group practices prepare for worst-case scenario)
August 14, 1998... As some of the nation's larger health management companies stumble amidst bankruptcy and litigation problems, officials at Baltimore area physicians groups are worried the ax may fall here. The recent bankruptcy of FPA Medical Management...

Reborn.(restoration of aging malls in Baltimore, MD)
August 14, 1998... Developers transform aging malls into glitzy and competitive power centers Towson Place is beginning to look much more like a retail center than a ghost town these days. Anchored by a new Target and a collection of other large discount...

Maker of Boss jeans plots out new course.(I.C. Isaacs & Co.)
August 14, 1998... I.C. Isaacs & Co. has been in the fashion business for 85 years, but most mall shoppers have never heard of the East Baltimore company. Those same shoppers, though, likely would recognize at least some of the brands I.C. Isaacs sells:...

Goliath grocery stores invade Charm City.(trend toward larger supermarkets in Baltimore, MD, area)
August 14, 1998... Safeway used to open supermarkets of 30,000 to 35,000 square feet, but not anymore. Its three newest Baltimore-area stores average more than 45,000 square feet, and that's no coincidence. After lagging behind the rest of the nation for...

Howard firms sells for $28M.(Columbia, MD-based RPM Consulting)
August 14, 1998... Robert Miller's 6-year-old computer network engineering firm turned out to be more lucrative than he ever imagined. After discovering a niche with his Columbia-based computer network consulting business, RPM Consulting, he found himself...

Profiting from a hobby can be a challenge.(beekeeping in Maryland)
August 14, 1998... Jerry Fischer's hobby has turned into a sweet business proposition for him. As one of Maryland's 980 registered beekeepers, Fischer sells the honey his bees produce and leases the bees to farmers for crop pollination. Although it is...

Storage USA Inc.(Proxy Report Excerpts)(Company Profile)
August 14, 1998... Corporate profile Storage USA, which moved its corporate headquarters from Columbia to Memphis, Tenn., early in 1998, made record strides towards its goal of becoming the leader in its industry. The operator of self-storage facilities...

Inphomation trustee halts Pier V hotel sale.(Harbor Inn Pier V waterfront hotel; bankrupt Inphomation Communications Inc; Paul-Michael Sweeney)
August 14, 1998... The sale of Harbor Inn Pier V to H&S Bakery president John Paterakis Sr. is on hold for now. Inphomation Communications Inc. bankruptcy trustee Paul-Michael Sweeney filed a complaint July 15 in U.S. bankruptcy court against the owners of...

IT Partners plans $96M IPO.(initial public offering)
August 21, 1998... IT Partners Inc., a fast-growing Columbia information-technology company, plans to raise as much as $96 million in an initial public offering in October. Daniel Klein, chief executive officer and chairman, said IT Partners will use the...

MicroProse second buy for Hasbro.
August 21, 1998... Languishing entertainment software maker MicroProse Inc., seven months after a previous merger plan collapsed, fell last week into the arms of toy maker Hasbro Inc. The $70 million merger deal, announced Aug. 12, came on the same day...

Eye of the beholder: investor sees beauty in old office buildings.(Boxer Property will spend more than $10 mil in eight Class B office buildings)
August 21, 1998... Not very long ago, city officials - so flummoxed by the large amount of empty space in the aging office buildings downtown - studied everything from tearing them down to turning them into apartments. The thought of actually turning them...

The economics of takeout.(includes related article on salad bars)(Au Bon Pain Inc.)
August 21, 1998... For Mitch Roberts, lunch is a science. The director of real estate for Au Bon Pain Inc. says his firm has a rock-solid formula for determining how many bakery-cafes it needs to saturate a downtown. The formula has led Au Bon Pain to be...

College savings trust gets off to slow start.(Maryland Prepaid College Trust)
August 21, 1998... Ronald Wilson started agonizing over the cost of college tuition for his daughter, Deloran, and son, Jared, before they could recite their ABCs and 1-2-3s. Uneasy about making risky investments in the stock market, Wilson opted for...

Putting out fires: Fireline trains employees to succeed.(Fireline Corp.)
August 21, 1998... As Baltimore-based Fireline Corp. cruises through its 51st year, it enjoys steadily growing revenues, a stable of satisfied clients and a level of employee dedication seldom seen these days. The firm's success strategy? Give workers all the...

RWD Technologies Inc.(proxy report excerpts)(Company Profile)(Brief Article)
August 21, 1998... Corporate Profile RWD Technologies, a Columbia-based provider of technology-based solutions, went public in June 1997. The first six months of 1998 went well for the company, founded in 1988. Second-quarter revenue reached $27.4 million,...

A merger windfall.(banking industry in Baltimore, Maryland)
August 28, 1998... Banks find vacant branches cheaper Looking for a cheaper way to expand, local banks are saving big bucks by moving into branches shuttered by the industry's ongoing wave of mergers and acquisitions. According to banking and real estate...

Inventor explores city site.(Stephen Brown plans to open factory in Baltimore, Maryland)
August 28, 1998... Shoe cleaner wants to employ 200 here A Prince George's County inventor, armed with a new patent for cleaning athletic shoes, is negotiating to open a factory in downtown Baltimore that he said could create 200 jobs. Stephen Brown, 35,...

Battling a tarnished image.(chemical companies in Baltimore, Maryland)
August 28, 1998... The sign in the window in the Small brick row-house reads, "We Want Out." Many residents in this South Baltimore neighborhood are waging a battle with City Hall, which, if they win, would force the city to buy out their homes and move them...

Ft. McHenry sees chance to expand.(Fort McHenry, Baltimore, Maryland)
August 28, 1998... Southern States Corp. has put its 11.95 - acre milling and distribution complex on Locust Point up for sale, and officials at nearby Fort McHenry are interested in a piece of it. Southern States' 228,00-square-foot complex includes a...

Satellite to benefit Md. firms.(NASA's FUSE satellite)
August 28, 1998... A $153 million satellite mission to study matter created by the Big Bang is expected to bring 896 million over six years to Maryland businesses and research institutions. The powerful new NASA satellite will receive and record ultraviolet...

Group wants grocery stores to be safe, too.(Metro Food Markets)
August 28, 1998... Buoyed by customers' demand for safer meals, Metro Food Markets is having its 2,200 employees trained to better handle and prepare food. The supermarket chain is the first to take part in a voluntary statewide program that awards a "Seal...

Comeback city.(growth of businesses in Baltimore, Maryland)
August 28, 1998... After years of decline, downtown Baltimore gets healthy again For the first time in a decade, businesses are locating and expanding in downtown Baltimore, new restaurants are opening and the Inner Harbor teems with tourists. But has...

More apartments on tap for city's center.(Baltimore, Maryland)
August 28, 1998... A high-profile effort to revitalize downtown through more rental housing is coming to fruition. A year after the Downtown Housing Initiative task force won financial incentives from the General Assembly to encourage downtown residential...

Downtown leaders working for more retail.(Baltimore, Maryland)
August 28, 1998... Longtime Baltimore residents recall with fondness downtown's once-bustling, but long-shuttered, department store district. The grand buildings that once housed Baltimore's quartet of elite retailers Hecht's, Hutzler's, Stewart's and...

Diehl to vote on buy-back.(Diehl Graphsoft Inc.)
August 28, 1998... In an attempt to boost its lagging stock price, the board of soft engineer Diehl Graphsoft Inc. will decide Sept. 8 whether to fund a stock buy-back. After the company made its initial public offering in March 1995 for 85 a share, the...

Bankers Trust Corp.(proxy report excerpt)(Company Profile)
August 28, 1998... Corporate profile Bankers Trust Corp.'s earnings and revenue continued to climb in 1997, a year filled with many changes for the New York-based financial services firm. Significantly impacting the company's healthy financial performance...