Baltimore Business Journal articles from December 1999

Baltimore Business Journal archives from December 1999

Arundel firm will nix IPO.
December 3, 1999... Powerize.com CEO says it may try later Powerize.com Inc. is backing away from a $30 million initial public offering it announced in June. The Linthicum-based financial information Internet company has decided to seek capital through...

Piper in venture spotlight.
December 3, 1999... Piper Marbury Rudnick & Wolfe LLP, Maryland's largest law firm, is becoming one of the area's hottest venture capital dealmakers. Piper & Marbury, before its Nov. 1 merger with Chicago-based Rudnick & Wolfe, was involved in eight...

Luring them in.
December 3, 1999... Baltimore still fighting an uphill battle for convention dollars Annual spending for the Baltimore Area Convention and Visitors Association more than doubled in the past five years, but the group's top official still claims the association...

State to retrain GM workers.
December 3, 1999... The Maryland Department of Labor, Licensing and Regulation will use federal money to help retrain workers displaced by a planned downsizing at General Motors' Baltimore plant. Although GM officials have promised to keep the plant open until at...

Attorney to join Alex. Brown.
December 3, 1999... George P Stamas, a top corporate attorney at Wilmer, Cutler & Pickering, will join Deutsche Banc Alex. Brown as a vice chairman and head of its global investment banking division. Stamas, an investor in the Orioles, will head a new investment...

Va. company leases Caldor space.
December 3, 1999... Dan River Factory Stores Inc. will open a new outlet in the Reisterstown Road Plaza. The bed-and-bath retailer will take over nearly 100,000 square feet of space vacated by the now-defunct Caldor department store. Dan River, based in Danville,...

Biotech firm moving to city.
December 3, 1999... ChemPacific Corp., a New Jersey pharmaceutical research company with eight scientists, is relocating to Baltimore City. The company signed a lease for 6,300 square feet of laboratory and office space at 6200 Seaforth St. in Holabird Business...

O'Malley hires Whiteford lawyer.
December 3, 1999... Baltimore Mayor-elect Martin O'Malley tapped Thurman Zollicoffer, 37, currently a partner at the law firm Whiteford, Taylor & Preston, to head the City Solicitor's Office. Zollicoffer is a lifelong resident of Baltimore City.

Walters toasts givers.
December 3, 1999... The Walters Art Gallery feted its top corporate donors Nov. 30 with a reception to thank them for their generosity and, of course, urge them to continue backing the Mt. Vernon museum. The "Corporate Evening of Art" drew some of Greater...

Gainers and Losers.
December 3, 1999... Everybody talks about the Kennedy money, but Kathleen is getting a lot of free ink these days. Kathleen Kennedy Townsend Suddenly, the woman-who-would-be governor is all over the newspapers and television. Hillary Rodham Clinton should be...

Valu Food to try again with leaner company.(Brief Article)
December 3, 1999... Valu Food Inc., the Baltimore-based grocery store chain that filed for bankruptcy protection at the end of 1998, is expected to file a much-anticipated reorganization plan with U.S. Bankruptcy Court in the next two weeks, according to company...

Venture deal nets Howard company $33M.(Sequoia Software Corp.)(Brief Article)(Statistical Data Included)
December 3, 1999... Sequoia Software Corp., a Columbia based software developer, secured its third round of venture capital financing and is one step closer to going public, company officials said this week. The $33 million in financing will go toward the...

Study: D.C. team won't top Orioles.(Baseball Orioles baseball team)(Brief Article)(Statistical Data Included)
December 3, 1999... A study commissioned by Washington, D.C.'s newest prospective MLB ownership group takes on the Baltimore Orioles' contention that a team in the Washington area would cut into what consistently has been one of baseball's top four...

State's homeowners may be underinsured.(Maryland)(Brief Article)(Statistical Data Included)
December 3, 1999... A large percentage of Maryland homeowners may not have the proper amount of insurance coverage on their houses, according to the Maryland Insurance Administration. The MIA held a hearing Nov. 18 to hear from state insurance companies,...

Chamber to lobby for late charge legislation.(Maryland Chamber of Commerce)(Brief Article)(Statistical Data Included)
December 3, 1999... The Maryland Chamber of Commerce is gearing up for a General Assembly battle over just how much companies can charge customers when they are late paying a bill. In a class-action suit brought by cable television customers, the Maryland...

PCRoomLink owner books Trahan, Burden.(Camanco Inc., Trahan, Burden & Charles Inc.)(Brief Article)(Statistical Data Included)
December 3, 1999... Trahan, Burden & Charles Inc. has begun creative work on an advertising account that could be worth up to $13.5 million in 2000. The final contract for the account, Camanco Inc. and its PCRoomLink product, is still being negotiated, however....

MGH lands three ecorn merce accounts.(MGH Advertising Inc.)(Brief Article)(Statistical Data Included)
December 3, 1999... Fast-growing MGH Adverlising Inc. recently picked up three new e-commerce advertising accounts, estimated at more than $10 million. All three bypassed the review stage arid were referred to MGH through other clients, said agency officials. ...

Pennsylvania agency opens Baltimore office.(Knezic/Pavone Advertising)(Brief Article)
December 3, 1999... Knezic/Pavone Advertising, a Harris burg, Pa.-based advertising agency, has headed south and opened an office in Owings Mills. The agency -- which handles such clients as Hershey Foods, the York Health System and Penn National Gaming Inc.'s...

Ascendia branches out with consulting firm.(Ascendia Healthcare Management, Ascendia Healthcare Consulting)(Brief Article)
December 3, 1999... Ascendia Healthcare Management, which handles the billing needs of physician groups and health care management organizations, is starting a consulting business. Owings Mills-based Ascendia launched its new Ascendia Healthcare Consulting...

Sinai adopts new name for its pediatric center.(Sinai Hospital of Baltimore, Children's Hospital at Sinai)(Brief Article)(Statistical Data Included)
December 3, 1999... Sinai Hospital of Baltimore's pediatric department has now been officially renamed the Children's Hospital at Sinai. The renaming recognizes Sinai's pediatrics program as the successor to nearby New Children's Hospital, which closed in...

Md. biotech company completes acquisition.(Maryland, Medlmmune Inc. and U.S. Bioscience complete merger)(Brief Article)
December 3, 1999... Gaithersburg-based biotech company MedImmune Inc. and U.S. Bioscience of West Conshohocken, Pa., have completed their merger, which was announced on in September. The $529 million merger -- completed well before the projected first quarter...

Constellation Health Services Inc.(signs management contract with Life Care Services LLC)(Brief Article)
December 3, 1999... Constellation Energy Group's subsidiary, Constellation Health Services Inc., has signed a management contract with Des Moines, Iowa-based Life Care Services LLC. Since June, Constellation had been trying to hammer-out terms of sale for its...

Johns Hopkins Medical Institutions.(biopsy study)(Brief Article)
December 3, 1999... A study of 6,171 patients by a team of Johns Hopkins Medical Institutions researchers found that after a biopsy is performed, one or two out of every 100 people seeking treatment at larger medical centers arrive at such centers with a diagnosis...

Blue Cross and Blue Shield Association.(announces agreement with eHealthInsurance.com)(Brief Article)
December 3, 1999... The Blue Cross and Blue Shield Association announced on Nov. 29 an agreement with eHealthInsurance.com to start working on making health insurance available online. CareFirst BlueCross BlueShield, the Maryland and Washington, D.C. Blues, is...

Digene Corp.(stockholders agree to place stock)(Brief Article)
December 3, 1999... Some stockholders of Beltsville-based Digene Corp. have agreed to privately place 1.5 million shares of the biotech firm's common stock. Digene, which makes DNA and RNA testing systems for the screening, monitoring and diagnosis of...

Citibank offers law interest to city buyers.(as part of a Neighborhood Housing Services program)(Brief Article)
December 3, 1999... Neighborhood Housing Services Inc. of Baltimore has secured $600,000 in mortgage loan money from Citibank to help renters become homeowners. Citibank will make mortgages available to low- and moderate-income homebuyers in targeted areas of...

BDC picks engineering firm, eatery for parcel.(Baltimore Development Corp.)(Brief Article)
December 3, 1999... The Baltimore Development Corp. will negotiate exclusively with engineering firm Whitman Requardt & Associates and the popular Black Olive restaurant on the redevelopment of an empty-lot in Fells Point. BDC has granted the two companies...

Manekin nabs Jacobs for Timonium center.(clothing store Eddie Jacobs signs new lease)(Brief Article)
December 3, 1999... Baltimore County will get its first Eddie Jacobs store in early 2000. The retailer of fine men's clothing has leased 1,510 square feet for five years at Fairgrounds Plaza in Timonium. The store will be Eddie Jacobs' first store outside...

Sweetheart to get new distribution complex.(Brief Article)
December 3, 1999... Sweetheart Cup Co. broke ground on a new distribution complex in Hampstead. The company -- the country's largest manufacturer of disposable paper, plastic and wooden goods for food and beverages -- will have the capacity to store 1.2...

Board targets real estate scam artists.(The Greater Baltimore Board of Realtors)(Brief Article)
December 3, 1999... The Greater Baltimore Board of Realtors is stepping up its warnings to homebuyers about a growing trend of fraudulent real estate practices. Scam artists lure victims into thinking they can buy homes with little or no money down, even with...

Feds agree to a deal with Md. developer.(Brief Article)
December 3, 1999... A U.S. District Court gave final approval Nov. 22 to a settlement between Chantilly, Va., based Interstate General Co. and the federal government. Maryland developer James Wilson last August agreed to pay the federal government more than...

Creditrust launches interactive Web site.(Brief Article)
December 3, 1999... Creditrust Corp. of Baltimore is now allowing credit card holders to check their account balances online. The company has created a new Web site, Creditrust.com, which allows card holders to check their balances and transaction history. It...

State taxpayers have not picked up refunds.(Brief Article)
December 3, 1999... Maryland is in search of taxpayers who have failed to pick up more than a quarter of a million dollars in state tax refunds. More than 1,500 state tax refund checks have been returned this year to the Maryland State Comptroller's Office,...

F&M receives approval for Patapsco merger.(Brief Article)
December 3, 1999... F&M Bancorp of Frederick has received approval from the Office of the Comptroller of the Currency to acquire Patapsco Valley Bancshares Inc. of Ellicott City. The OCC, which is a unit of the Department of the Treasury, regulates national...

N.C. banks spawn East Coast bank startups.(Brief Article)
December 3, 1999... The expansion of North Carolina banks has helped seed much of the East Coast with new community banks, says Arnold Danielson, a banking consultant who follows the industry from South Carolina to Maine. The trend is clear in the latest...

First Union Corp.(Brief Article)
December 3, 1999... First Union Corp. has added a little "high touch" to its high-tech mortgage service on-line. Once a customer submits an on-line application for a mortgage, a representative of First Union will call him or her within 15 minutes to talk to...

Long recovery.
December 3, 1999... Physicians work to bounce back from failure of doctors groups Physician practice management companies were going to be the answer. By banding together in voluntary groups, doctors were going to take back control from the insurance...

Highest-paid state officials in Maryland.
December 3, 1999... Highest-paid state officials in Maryland (Ranked by current fiscal year salary) Rank/ Name/title Current last Agency ...

A Conversation With ... Dr. Donald E. Wilson.(Interview)
December 3, 1999... dean, University of Maryland School of Medicine; chairman, Maryland Health Care Commission In recent months, a new entity has been formed in Maryland to look at how the insurance industry and hospital industries interact. Two of the...

Getting immunization shots no childish matter.
December 3, 1999... There is a class of diseases that cause rampant human suffering and major losses to employers through lost productivity, employee medical treatment and personnel turnover. Yet there is no national groundswell to bring these diseases under...

Pfefferkorn's Coffee celebrates its centennial.
December 3, 1999... Long before Starbucks took the nation by storm and Donna's became synonymous with java, Baltimore had Pfefferkorn's Coffee. Celebrating its 100th year of business as a coffee company in 2000, the company started out as a family-owned...

Morstein's still ticking away.(Brief Article)
December 3, 1999... Going into the milennium, Morstin's Jewelery, in Federal Hill, is enjoying its third generation of business. In the 1930s, The Enterprise newspaper proclaimed Morstein's the "most modern store in South Baltimore." The article said the...

E-learning services take off.
December 3, 1999... MentorLabs to lead new trail in online training The folks at MentorLabs plan on being in front of the pack when the next wave of Internet use hits full stride. As founder and general manager of the Annapolis-based firm, Gregory Long is...

Usinternetworking wins two contracts.(Brief Article)
December 3, 1999... Annapolis-based USinternet-working Inc a software-leasing company, is set to manage two new Web sites -- one aimed at consumers and the other aimed at businesses. In addition to managing online applications for companies world-wide,...

Caliber to offer executive program.(Brief Article)
December 3, 1999... The Building Owners and Managers Association International, Baltimore-based Caliber Learning Network Inc., and the University of Southern California introduced a new education program targeted at executives. "This is a bold endeavor, and...

Chamber to create Internet venture.(Brief Article)
December 3, 1999... The U.S. Chamber of Cornmerce and high-tech entrepreneur Raj Singh are creating a new Web site to provide information and support to the organization's more than 8 million members. "This new Internet venture gives us a powerful new tool to...

Internet mutual funds continue to ride wave.(Brief Article)
December 3, 1999... At a time when assets of general mutual funds grew less than 10 percent, Internet stock mutual funds increased more than 1,250 percent in value, according to new information generated by an independent mutual fund tracker. "The growth of...

New bill makes digital signatures binding.(Brief Article)
December 3, 1999... The U.S. House of Representatives passed legislation last month that makes electronic signatures legally binding. The bill, expected to be finalized by the Senate and House early next session, will override all state laws that do not...

Virginia firm finds a niche in unlikely place.(Brief Article)
December 3, 1999... Julia Malikoff knows little about software programming and Internet marketing, but she's still managed to catch the attention of the region's well-known technology firms. Teligent and MCI WorldCom recently tapped Malikoff, who represents...

Start now to plan for your estate.
December 3, 1999... Dear Business Doctor: I've been a small-business owner for almost 10 years. One of the professional associations I'm a member of is sponsoring a seminar on estate planning. I already have a will. How important is estate planning? R.C. Dear...

All aboard.
December 3, 1999... Howard train firm not content being industry caboose What does it take to unseat an icon? Ask the folks at MTH Electric Trains Inc. -- they know all about that kind of thing. The firm has grown in 19 years from a smalltime mail order...

How do you battle stress in the workplace?
December 3, 1999... David Kline Partner / Wakeley and Kline LLC, Laurel "There are several sources of stress in the workplace: an unreasonable workload within a short time frame; worker relationship problems; and leading group projects involving different...

PROXY CORNER.
December 3, 1999... A weekly analysis of Baltimore-area public companies Crown Central Petroleum Corp. I N. Charles St./Baltimore 21201 / (410) 539-7400 Corporate profile Earlier this year, the famed Blaustein family, of Amoco Oil fame, split its...

TAKING STOCK.
December 3, 1999... Corporation price 12/1/99 % change Weekly Gainers 1. EA Engineering Science (EACO) $1.25 33.33 2. Tessco Technologies (TESS) $20.38 23.48 3. First Mariner Bancorp...

PEOPLE.
December 3, 1999... CONSULTING Stanton Chase International named Peter J. Schweizer a principal in its Baltimore office. He will be an executive recruiter for the Baltimore-Washington Mid-Atlantic region, focusing on financial services. Craig N. Clive, a...

Baltimore has future in tech.
December 3, 1999... Baltimore's small but growing technology industry got a big boost from a recent study that shows it is actually beating out its competitors in technology-rich Northern Virginia and Montgomery County when it comes to job creation at emerging...

Hispanics to get SBA aid.
December 3, 1999... The U.S. Small Business Administration deserves kudos for its agreement to work more closely with Maryland's Hispanic Chamber of Commerce, a group that represents more than 2,000 businesses statewide. The government agency, which has been...

O'Malley must confront the forces of civil service.
December 3, 1999... When times are bad, people look for a messiah to solve all their problems. That's why it's always a good public relations move for a bad sports team to hire a new coach. It distracts people's attention from the underlying problems. With...

Web site of the week.
December 3, 1999... www.executivelibrary.com This less-than-slick site provides business owners and executives with links to most major business and financial news sources in local, national and international markets. An extensive research section --...

Drug Wars.(drugstores in Baltimore, Maryland)(Brief Article)(Industry Overview)(Statistical Data Included)
December 10, 1999... Chain stores do battle over boom in Prescriptions Another drug war is raging in Baltimore. In this one, however, the drugs are legal and the soldiers are mega-drugstore chains -- each vying for a piece of the mushrooming prescription...

Nationwide moving offices to Columbia.(Nationwide Insurance)(Brief Article)(Statistical Data Included)
December 10, 1999... Nationwide Insurance is consolidating four of its Maryland offices into a 40,000-square-foot space in The Renaissance, a newly renovated building at Columbia Gateway Corporate Center. The Columbus, Ohio-based insurance company will close...

BGE and union to face off.(Baltimore Gas and Electric)(Brief Article)(Statistical Data Included)
December 10, 1999... Utility deregulation behind labor push The labor union that has been struggling for several years to organize workers at Baltimore Gas & Electric Co. will try again to unionize the utility this spring, according to officials on both sides...

BDC chief seeks new incentives.(Baltimore Development Corp. President M.J. Brodie)(Brief Article)(Statistical Data Included)
December 10, 1999... Baltimore Development Corp. President M.J. "Jay" Brodie has initiated a quiet effort to change legislation that could give the city a new tool in its efforts to boost economic development. Brodie this week said he plans to lobby the General...

City approves Brokerage lease.(Baltimore, Maryland)(Brief Article)(Statistical Data Included)
December 10, 1999... The Baltimore City Board of Estimates approved a plan on Wednesday to lease the vacant Brokerage property to The Cordish Co., the developer who renovated the nearby Power Plant. The deal calls for a 75-year, low-rent lease and would transform...

Ciena stock jumps on rumors.(Brief Article)(Statistical Data Included)
December 10, 1999... Linthicum-based Ciena Corp. watched its stock jump 29 percent earlier this week on rumors that the manufacturer of telecommunications equipment won large contracts with Qwest Communica-tions International Inc. and Williams Communications Group...

Legg makes overseas acquisition.(Brief Article)
December 10, 1999... Legg Mason Inc. completed its $70 million acquisition of London-based Johnson Fry Holdings PLC, the Baltimore company's first-ever overseas acquisition. The purchase gives Legg 83,000 customers and $2 billion in assets under management.

Hechinger sells off 7 local leases.(Brief Article)
December 10, 1999... Hechinger Co., which is going out of business, sold the leases for seven of its Greater Baltimore stores. The results of the sales are not totally known, but it is known that Home Depot will take over Hechinger's Columbia store; Kohl's will...

PSINet peeved at CBS.(Brief Article)(Statistical Data Included)
December 10, 1999... It's frustrating to spend $150 million for the rights to place your name on a professional football stadium only to listen to network commentators refuse to mention it. CBS Sports commentators consistently refer to PSINet Stadium as...

Schwartz staying.(Downtown Partnership of Baltimore Inc.)(Brief Article)
December 10, 1999... Downtown Partnership of Baltimore Inc. is not ready to give up leader Laurie Schwartz just yet. The group tried to get the word out this week that Schwartz was not leaving the organization for good. She's only "on loan" to new mayor Martin...

Forbes 500.(Brief Article)(Statistical Data Included)
December 10, 1999... The annual Forbes magazine list of the nation's 500 biggest private companies is out, and that means it is time to see how Baltimore's companies stack up against others in the nation. This year, two private companies from Charm City made it...

RM&D's new account.(Brief Article)(Statistical Data Included)
December 10, 1999... One of the area's hottest "dot-com" accounts has gone to a Baltimore agency. AssociationCentral.com which estimates billings to top $5 million next year, selected Richardson, Myers & Donofrio to handle its advertising account. Agencies making...

Gainers and Losers.
December 10, 1999... All seems well in Camelot: Baltimore City welcomed its new mayor, Ciena is a hot stock once again, But 22 murders in 10 days could spark more urban flight. * Martin O'Malley The new mayor cannot help but start on the up side. We wish him...

Hospital CEOs fear care is compromised.(with new rates)(Brief Article)(Statistical Data Included)
December 10, 1999... Warren A Green fears new rates for Maryland's hospitals could stymie his health system's ability to pay for the latest in life-saving equipment. In fact, the chief executive officer of. LifeBridge Health says he is worried that the talk of...

New Annapolis bank seeking $1OM in IPO.(CommerceFirst Bancorp)(Brief Article)(Statistical Data Included)
December 10, 1999... CommerceFirst Bancorp, a proposed start-up commercial bank holding company m Annapolis, is seeking to raise $10 million in an initial public offering. The holding company will offer up to 1 million shares of common stock at $10 a share,...

Advance Bank picks Seton for a new HQ.(Brief Article)(Statistical Data Included)
December 10, 1999... Advance Bank, a minority-owned bank with $40 million in assets, is moving its headquarters to the city-owned Seton Business Park in Northwest Baltimore. "We really wanted to get into our own space," said Advance Bank president John...

Teachers want greater access to the Internet.(Brief Article)(Statistical Data Included)
December 10, 1999... Local and state efforts to put more computers with Internet access into public schools has been successful, but more needs to be done, according to a report released this week by the Maryland Business Roundtable for Education. Officials...

DSL: Smart Business Connection.(Brief Article)(Statistical Data Included)
December 10, 1999... Faster, more versatile Internet access with Voicenet SpeedLine DSL In today's fast-paced, high-pressure business world, good connections are invaluable assets for any company or organization. One of the most important business connections...

Bay National gets SEC approval for offering.(Brief Article)(Statistical Data Included)
December 10, 1999... Bay National Corp., a startup holding company, is seeking to raise $15 million in an initial public offering for its new institution, Bay National Bank. The bank holding company is offering up to 1.5 million shares of stock at $10 per...

Hopkins credit union opens new facility.(Brief Article)(Statistical Data Included)
December 10, 1999... The APL Federal Credit Union, the credit union serving the employees of The Johns Hopkins University Applied Physics Laboratory, has opened a new, and larger facility on Johns Hopkins Road in Laurel. The 17,800-square-foot building is...

Howard Co. exec seeks home loan legislation.(Brief Article)(Statistical Data Included)
December 10, 1999... Howard County Executive James Robey wants to boost home-ownership in high-rent and dilapidated neighborhoods by making it easier to get home loans through the county housing department. Robey is proposing legislation that would increase the...

BBJ parent company launches tech paper.(Baltimore Business Journal.)(Brief Article)
December 10, 1999... American City Business Journals, parent company of the Baltimore Business Journal, will launch a weekly technology newspaper in January. Potomac Tech Journal will capitalize on the exploding technology community in the Baltimore-Washington...

Christopher Skokna.(Shandwick International-Baltimore's new contracts.)(Brief Article)(Statistical Data Included)
December 10, 1999... * Shandwick International-Baltimore, an advertising and public relations firm, was selected by three companies to provide marketing services. The companies are Sky Alland, a Columbia-based info-tech company, MDVista, a Fremont, Calif.-based...

Richardson, Myers & Donofrio Inc.(Brief Article)
December 10, 1999... Baltimore-based advertising agency Richardson, Myers & Donofrio Inc. created and produced two 30-second TV spots for Campaign for Our Children that emphasize the need to educate all children about sex in relation to HIV and AIDS, in addition to...

Despite loss, Magellan deems 1999 a success.(Brief Article)
December 10, 1999... Magellan Health Services Inc. finished its fiscal year with a $19.2 million loss, but the company's president still chalks up 1999 as a successful one for the behavioral health care company. Though Magellan finished the year with a loss of...