Baltimore Business Journal articles from February 1995

Baltimore Business Journal archives from February 1995

Finance slump takes toll. (investment firms Alex. Brown and Sons Inc. and Legg Mason Inc. suffer revenue losses) (Industry Overview)
February 3, 1995... Brokerage revenue falls as market cools A dearth of corporate and public finance deals hit hard at Baltimore investment firms Alex. Brown & Sons Inc. and Legg Mason Inc., sending their investment banking revenue in the last months of 1994 down...

Blue Cross to cut 233 more jobs. (Blue Cross and Blue Shield of Maryland Inc.)
February 3, 1995... Blue Cross and Blue Shield of Maryland intends to contract various computerized information services to an outside vendor, a move that would eliminate 233 jobs in the company. The Owings Mills insurer has not yet reached a definite agreement...

CSX moving in. (CSX Intermodal to test launch its "Iron Superhighway" system)
February 3, 1995... 'Iron Highway' may be route to booming intermodal market A Hunt Valley-based division of CSX Corp. this spring will launch the first commercial test of a system that could cut in on a $25 billion market now dominated by trucking companies....

Suburban office space filling up. (Baltimore, MD) (Industry Overview)
February 3, 1995... The surging industrial market and the slumping downtown office market are getting most of the attention, but the real estate sector making the most noise lately is the once-battered suburban office market. From Owings Mills to Columbia to...

Md. firms called to action in minimum wage war. (Maryland)
February 3, 1995... Thousands of Maryland small businesses, including retailers, could be enlisted to fight a proposed increase in the federal $4.25 minimum wage. The National Federation of Independent Business, which claims 6,200 members in Maryland, and the...

Alex. Brown nixes USF&G site. (Alex. Brown and Sons Inc.)
February 3, 1995... Scratch Alex. Brown & Sons Inc. off the list of candidates to fill the USF&G Tower. In a telephone interview Tuesday, Alex Brown. Chief Executive Officer A.B. "Buzzy" Krongard said that of all the "buildings in the world," he couldn't think of...

LaSalle vs. Mid-Atlantic: court hears battle over commissions. (LaSalle Partners Ltd.; Mid-Atlantic Properties)
February 3, 1995... A long-running dispute over a real estate broker's right to a commission is being waged in Baltimore County Circuit Court. In a case pitting a top brokerage firm against one of the world's largest asset managers, Mid-Atlantic Properties Inc. is...

'He was a pretty good employee, but ...'. (employment reference legislation in Maryland)(includes related article)
February 3, 1995... Chamber backs bill to thwart lawsuits over job references Maryland bosses may soon feel freer to criticize workers when giving job references to prospective employers. The Maryland Chamber of Commerce hopes a proposed General Assembly bill...

Hospitals break trend of 20 years. (Industry Overview)
February 3, 1995... Costs cut for uninsured care; operating profits climb 40% For the first time in almost 20 years, Maryland's hospitals have reduced the cost of providing care to the uninsured and those who don't pay their bills. It's a significant factor in...

Bell Atlantic move should bring new jobs, money to region. (consolidates engineering operations in Baltimore, MD)(includes related article)
February 3, 1995... Plan a needed boost to city Economic development officials say Bell Atlantic Corp.'s decision to move nearly 600 engineering jobs to Baltimore will help them pitch the region as a hub for high technology. "It really does validate the fact...

Chamber, legislator at odds over emission test. (Maryland Chamber of Commerce; Martha S. Klima; Vehicle Emissions Inspection Program)
February 3, 1995... Why business could wind up loser if new law is repealed The Maryland Chamber of Commerce believes state businesses will end up paying the bill if the legislature repeals a controversial new program that forces motorists to meet higher pollution...

Proposal would aid both employers, unemployed. (proposed cut in Maryland's unemployment insurance surcharge)
February 3, 1995... Business and labor have teamed up in an effort to lower the state's unemployment insurance surcharge, even as they seek to increase the maximum weekly paycheck for the unemployed. A House of Delegates bill that combines the two issues is...

In Annapolis, he's now on the other side. (Laurence Levitan, partner at law firm Rifkin, Livingston and Silver)
February 3, 1995... Larry Levitan begins his Monday with an 8 a.m. appointment that seems staged to provoke him. He skipped breakfast to make the meeting with the legislative committee of the Montgomery County Chamber of Commerce. Now, he has to sit through a...

Those stacks aren't so high now. (accounting firms suffer from low volume of tax work) (Special Report: Finance: Taxes) (Industry Overview)
February 3, 1995... Amount of tax work dips for local accounting firms Bob Damie is desk-deep in taxes. Nobody has to tell him it's the "busy season." Over the course of his lengthy career, the owner of Damie & Rothman, P.A., an eight-person firm, has waded...

Clean but unreadable forms, and other tales of tax woes. (Maryland Taxpayer Service Program) (Special Report: Finance: Taxes)
February 3, 1995... Phone workers help callers with questions What's the adult version of "My dog ate my homework"? "My dog ate my W-2 forms," of course. That's just one of the excuses Dolly Kemmerer has heard in her nine years with the Maryland State...

General Physics Corp. (Proxy Report Excerpts) (Company Profile)
February 3, 1995... Corporate Profile: Prior to January 1994, General Physics Corp. made its living primarily by training personnel at nuclear power plants and at federal nuclear weapons facilities. In the post Cold War era, however, demand for those services has...

Amtrak's efforts to scale back may be too little, too late.
February 3, 1995... Amtrak is racing to get itself back on track before the Republican revolution derails the nation's heavily subsidized passenger railroad system. By making huge cuts in personnel and eliminating many of its least profitable routes nationwide,...

Credit unions wait for fallout. (seizure of Capital Corporate Federal Credit Union) (Industry Overview)
February 10, 1995... $37 million at stake for member firms More than 200 credit unions, including a number in Maryland, could lose a total of $37 million as the result of a Landover-based corporate credit union's massive losses in derivatives trading. But those...

3 sites still in race in McCormick hunt. (McCormick & Co.'s search for distribution center location)
February 10, 1995... McCormick & Co. has narrowed its search for a new distribution center to three sites - two in Maryland and one in Pennsylvania. By the end of the month, company officials will choose between sites in White Marsh in Baltimore County, the...

Medicaid contracts under fire. (state health care legislation)
February 10, 1995... Millions of dollars worth of Medicaid contracts are at stake under emergency legislation that could prevent the state health department from entering into managed care agreements with hospitals and physician groups. Opponents say the bill...

Public radio stations reach out for support. (federal cuts in public broadcast funding)
February 10, 1995... Threats to cut or eliminate federal funding for public broadcasting have pushed local public radio officials to their word processors and microphones in hopes of drumming up support. Cary Smith, general manager for WBJC public radio at...

Medical Mutual seeks new markets. (Medical Mutual Liability Insurance Society of Maryland)
February 10, 1995... Maryland's largest medical malpractice insurer wants to take more of its business out of state. Medical Mutual Liability Insurance Society of Maryland, a non-profit, doctor-owned insurance company based in Hunt Valley, is backing a state...

Convention study: Ocean City, College Park offer best payoff. (conventions and meetings facilities in Maryland)
February 10, 1995... A state-funded study of conventions and meetings business recommends lawmakers move quickly on projects for Ocean City and College Park. A $30 million expansion of the Ocean City Convention Center and a proposed $20-$25 million College Park...

MarkAir to end service from BWI. (MarkAir Inc.; Baltimore-Washington International Airport)
February 10, 1995... Less than six weeks after its arrival, another small, discount carrier has decided to discontinue service from Baltimore/Washington International Airport. MarkAir Inc., which moved its operation from Washington Dulles International to BWI Jan....

Brady drawing up a new economic game plan. (Maryland business promotion head James T. Brady)
February 10, 1995... Maryland's economic development programs will undergo radical surgery if the state's new business promotion chief has his way. For starters, James T. Brady - who was appointed yesterday by Gov. Parris N. Glendening - said he wants to build up a...

Columbia firm partners with Israeli companies in $6M fish-farming effort. (AquaPharm Technologies Corp.)
February 10, 1995... A fledgling Columbia firm is launching a $6 million fish-farming joint venture with two Israeli companies, making the project one of the first beneficiaries of a trade initiative between the United States and Israel. AquaPharm Technologies...

Muller moves to stop money launderers. (Maryland bank commissioner Margie H. Muller)
February 10, 1995... The Maryland bank commissioner is trying to stop potential money launderers from using money transmitting businesses as a front. Commissioner Margie H. Muller has drafted legislation that would require anyone who wants a state license to wire...

Local firm's technology gives patients a safety net. (RLT Medical Associates Inc.'s digital diagnostic device)
February 10, 1995... After doing some heavy lifting in his Catonsville home a few weeks ago, Robert Messersmith felt his heart racing. And sure enough, the retired mailman, who has arrhythmia - a disorder that causes the heart to beat irregularly - discovered his...

Incentives aim to reduce costs of Bay cleanup. (Chesapeake Bay)
February 10, 1995... Bill would encourage developers, farmers to take preventive measures The Glendening administration is developing a package of environmental legislation designed to promote private-sector cleanup of Chesapeake Bay tributaries. The initiative...

Deal near on White Hall course completion. (White Hall, Maryland; Greystone golf course)
February 10, 1995... The cash-strapped developers of a half-finished golf course in northern Baltimore County may have found their financial angel. Though Don Airey and Ray Daue wouldn't name names, the partners in Blackstrap Development Co. said they are close to...

Golf project aims for harbor: AlliedSignal considering temporary development. (AlliedSignal Inc.)
February 17, 1995... AlliedSignal Inc. is mulling over a developer's offer to build a temporary golf center on once-contaminated land the company has spent millions to clean up. Ultimately, plans for the former chrome plant site call for a $200 million...

Sweetheart Cup restructuring; layoffs expected. (Sweetheart Cup Company Inc.)
February 17, 1995... Sweetheart Cup Corp., which employs 2,500 people at its Owings Mills plant, has embarked on a comprehensive restructuring program to boost profits. The move, led by the new chief executive officer of the Chicago-based company, is expected to...

Area hospitals buy managed care firm. (Baltimore/Washington area; Preferred Health Network of Maryland Inc.)
February 17, 1995... Deal creates a first for region Thirteen hospitals in the Baltimore/Washington area have bought Preferred Health Network of Maryland Inc., creating what is believed to be the first hospital-owned managed care company in this region. Under...

Cruising the 'net: local companies jump into cyberspace. (Internet; Baltimore-area companies)
February 17, 1995... The gold rush mentality surrounding the Internet has many Baltimore-area companies scrambling to answer the same question: Where do we fit in? Some are diving headfirst into the worldwide network of computer networks, while others more...

Battle lines drawn over subacute proposals. (hospital care)
February 17, 1995... Bill, state project would ease hospitals' move into services dominated by nursing homes Two years dragged by while Calvert Memorial Hospital waited for state health officials to approve a plan to use 16 hospital beds for patients who need less...

State's grip on port could loosen under push for privatizing. (Maryland Port Administration)
February 17, 1995... The Maryland Port Administration might operate more like a private business as part of the Glendening administration's efforts to spur economic growth. That's one of the more provocative ideas raised by Gov. Parris N. Glendening's economic...

Chaos, deals on the bond trading desk.
February 17, 1995... When Joseph A. Sullivan gets to the office, he usually has to switch on the lights. Arriving at Legg Mason Inc.'s downtown headquarters at 6 a.m., he enjoys the peace and quiet of an empty office. It's a chance to "get his act together," clear...

Harbor Federal Bancorp Inc. (proxy report excerpts) (Company Profile)
February 17, 1995... Corporate Profile: Midway through its 1994 fiscal year, Aug. 11, 1994, the 108-year-old Harbor Federal Savings and Loan Association, now Harbor Federal Savings Bank, converted to a federally chartered stock savings bank. As a result of the...

Funeral homes branching out to reach clients.
February 24, 1995... After 35 years in the city, a prominent Baltimore funeral home is moving to the suburbs to be closer to its customer base. Sol Levinson and Brothers Inc. will break ground this spring on a new, 24,000-square-foot funeral home at the corner of...

HMOs win workers: state to save millions in switch. (health maintenance organizations)
February 24, 1995... State workers have made a major exodus from traditional health insurance plans into less expensive managed care networks this year, saving Maryland millions of dollars more than expected in benefit costs. State budget office figures show the...

The new advertising age: competition fierce among local agencies. (includes related articles)
February 24, 1995... Eisner & Associates had been admiring Black & Decker Corp. from afar. The Baltimore advertising agency wanted a piece of the $4.9 billion manufacturer's advertising business. So Eisner staffers set out on their own to research just how the...

Nonprofits want state's help.
February 24, 1995... A public financing agency and a state-sponsored staff training, program would be set up to boost Maryland's $6.1 billion nonprofit sector under bills now making their way through the General Assembly. If the legislation passes, Maryland would...

Hospitals recruiting open-heart surgeries: keeping business in-state among top priorities.
February 24, 1995... Baltimore hospitals always have competed intensely for the right to perform open heart surgery, a procedure that enhances prestige and boosts revenue. The winning hospitals used the distinction to get referrals on other procedures. And the...

Travel agencies check flight plans as fees threatened. (includes related article)
February 24, 1995... The decision by major airlines to dramatically reduce commissions paid to travel agents has left many Baltimore travel agencies - especially those that rely on business travelers - nervously plotting a new business plan. Most say they will...

How Md. built its deal to convince McCormick. (McCormick and Company Inc.; Maryland)
February 24, 1995... Sometimes, big is still better. McCormick & Co. proved that Tuesday, when Gov. Parris Glendening announced a $20 million public investment - the state's largest business financing package ever - to stop the international spice company from...

Venable bases future on technology: $4M investment to fuel growth in targeted practice specialities. (Venable, Baetjer and Howard)
February 24, 1995... If Venable, Baetjer and Howard hadn't invested $4 million in new computers, David Heubeck might have boarded that plane to Sweden with his luggage and boxloads of legal files. But now that Baltimore's oldest law firm is on-line, Heubeck, a...

Construction under way on town center: planned development comes to Parole. (Parole, Maryland)
February 24, 1995... What would George Washington think? In 1783, while on his way to resign as commander in chief of the Continental Armies, Washington stopped in Parole, a crossroads near Annapolis, for a meeting. By the year 2020, a plan to create a town...