Baltimore Business Journal articles from February 1997

Baltimore Business Journal archives from February 1997

Hopkins to slice budget. (Johns Hopkins Hospital)
February 7, 1997... Hospital, medical school look to cut $55 million to compete Johns Hopkins Hospital and School of Medicine - one of the metropolitan area's largest employers - plans to slash its budget by $55 million and reduce the hospital workforce by 5...

Hotels banking on local clients.
February 7, 1997... Corporate meetings fill agenda Despite cash flowing from out-of-state conventioneers and tourists, downtown hotels are finding their most loyal clients right in their back yard. "Local clients are a very important aspect to our business...

Credit union forced to close.
February 7, 1997... One of the few church credit unions in Baltimore has been closed down by federal regulators. The Baltimore Progressive Federal Credit Union, which served members of Bethel AME Church, was forced into liquidation Friday by the National Credit...

Fraud troubles linger. (Glen Burnie Bancorp)
February 7, 1997... Problems, stemming from a notorious fraud case are continuing to reverberate at Glen Burnie Bancorp, which slashed its fourth-quarter dividend from 30 cents per share to 5 cents. The bank company's dividend was reduced because of lower than...

Push for new arena moves on. (Anne Arundel County, MD)
February 7, 1997... Anne Arundel could be site; city's venture could take five years Spurned by Baltimore County after he sought to build an arena there, hockey team owner Michael Caggiano has found a friendlier atmosphere in Anne Arundel County. Meanwhile, a...

Maryland Magazine to become regional section.
February 7, 1997... The 28-year-old Maryland Magazine, which had 25,000 paid subscribers, has published its last issue as an independent magazine. Its new owners have derided to fold the magazine into another monthly publication, Mid-Atlantic Country, where...

HMO medical decisions may face more scrutiny. (health maintenance organizations)
February 7, 1997... Maryland health maintenance organizations are getting ready to fight legislative proposals they say would discourage physicians from taking executive positions at HMOs, leaving more "bean counters" in charge. Two bills addressing the issue are...

MicroProse parent turns around game in 3rd quarter.
February 7, 1997... MicroProse is back. That's what analysts and other industry watchers are saying about the well-known computer games brand, whose California parent company seemed to be spiraling into a financial abyss less than a year ago. Spectrum HoloByte...

Hopkins students re-engineer careers. (Johns Hopkins University)(Small Business: Workshop)
February 7, 1997... Ten years ago, the typical engineering student looked past college to a job with a major industrial firm, such as IBM or General Motors. But times have changed and young engineers are joining the ranks of fellow Generation Xers who are shunning...

Brokers: everyone remain calm. (handling a stock market panic)(Special Report: Finance)
February 7, 1997... Panic not an option if market takes a dive Baltimore's investment professionals agree on what not to do in the event of a stock market panic: Panic. Still riding an unprecedented bull market, local stockbrokers and mutual fund managers say...

Bank start-ups carve local niche. (Baltimore, MD)(Special Report: Finance)
February 7, 1997... When Jan W. Clark and Henry L. Hein were ousted from the Bank of Glen Burnie's board of directors, they decided that the best revenge was to beat the bank at its own game. Almost a year later, they say their new bank, Country National Bank, is...

Will confidence fueling market upswing ever end?(Special Report: Finance)
February 7, 1997... A recent poll of mutual fund investors reported the majority expect that the next 10 years will provide the same returns as the last 10 years, and that there will be little chance of any serious correction of even 10 percent during those years....

Slot machines have sleazy history here.(Column)
February 7, 1997... Here's the deal: Will tax relief kill slot machines or will slot machines kill tax relief? The two can coexist only in an unnatural alliance that thumbs its nose at Maryland history as well as elementary economics. Anyone with an...

Price is small to clean up campaign mess.
February 7, 1997... A culture of lawlessness has developed around our campaign financing system, both at the national and state levels. In Maryland, over a dozen businesses and individuals apparently violated the campaign contribution limits in the 1994 election...

Angelos fighting new BGE project. (Baltimore Orioles owner Peter G. Angelos; Baltimore Gas and Electric Co.)
February 14, 1997... Baltimore Orioles owner and labor attorney Peter G. Angelos has built up a head of steam over a Baltimore Gas and Electric Co. hot and cold air generator being built in the former Hamburger's building downtown. As an adjacent property owner,...

Benefits could get state eye. (employee health benefit plans)
February 14, 1997... Maryland's major employers, who have long treasured their freedom from state control over their employee health benefit plans, could soon find state regulators looking over their shoulders. At least, that's what state Sen. Thomas L. Bromwell,...

Small funds hit home run in big leagues. (mutual fund companies)
February 14, 1997... At a typical mutual fund company, large investors who time the market are anathema. But this is exactly the kind of investor that makes mutual fund managers at Rockville-based Rydex Series Trust drool. Then again, $1.3 billion-asset Rydex is...

Sink or swim for taxi. (water taxi services in Baltimore, MD)
February 14, 1997... Harbor Shuttle won't sign contract A storm is brewing in the Inner Harbor. Ron Morgan, owner of Harbor Shuttle Co. Inc., one of Baltimore's two water taxi services, is planning to fight the city's restrictions on where his 10-passenger...

Lucent enjoys growth spurt. (Lucent Technologies Inc.)
February 14, 1997... AT&T spinoff firm adds local employees Since being carved out of AT&T Corp. less than a year ago, Lucent Technologies Inc. has quietly brought hundreds of high-tech, high-paying jobs to the Baltimore area. The new telecommunications...

Banks put new spin on wedding register. (bridal registry programs)
February 14, 1997... It's taking some time for newlyweds to discover the federal government's bridal registry program. And for mortgage companies to let them know it exists. The registry program, announced in October, helps just-married couples afford Federal...

Cyberspace watchdogs pounce on Md. bill. (electronic mail regulations)
February 14, 1997... All politics is local. That old maxim has been used to great effect over the years. The late Massachusetts Congressman Tip O'Neill even wrote a book with that title. But in the age of the Internet, things have changed. Perhaps political...

Persistence pays off for award winners. (Maryland Award for International Business Leadership)
February 14, 1997... Targeting international markets in the early 1990s is the reason leaders of two Baltimore businesses were honored Thursday for their business achievements overseas. Peter Bowe, president of Ellicott Machine Corp. International, started...

LLCs can limit liability without stunting benefits. (limited liability companies)
February 14, 1997... Riddle of the day: What do you get when you cross a corporation and a partnership? Answer: A limited liability company. No joking: This form of business limits members' liability for debts and lawsuits like a corporation does and, at the same...

Goal-oriented resolutions can increase business.
February 14, 1997... Traditionally, the start of a new year is an opportunity to reflect on the events and experiences of the past year. A new year also presents a clean slate of opportunity for the future that is best captured in the optimistic resolutions...

Big tax gains for small businesses: new laws increase deductions.
February 14, 1997... Small business owners focusing on next month s deadline for filing 1996 corporate income tax returns can still take advantage of last-minute deductions, according to local tax experts. Several tax-saving deductions often go unclaimed,...

Police shuffle more than paperwork. (Baltimore, MD)
February 14, 1997... During construction, Lt. Pritchett's main goal is to maintain security These days, Lt. William Pritchett spends his time shuffling 500 colleagues around the Baltimore Police building on East Fayette Street so it can be completely refurbished....

State agency wheels and deals with the best of them. (Maryland's Dept. of General Services)
February 14, 1997... Real estate division keeps a 'fair' outlook on negotiations We're talking millions of dollars worth of real estate and very, very big deals. For example: * Senior Campus Living Inc. in Catonsville buys the 152-acre former Great Oaks...

Homeowners cozy up to idea of selling in winter. (real estate market)
February 14, 1997... Brown grass and bare trees don't necessarily keep people from buying during cold season With a mild winter and favorable interest rates, the real estate market is picking up steam after a traditionally slow holiday season. Although the...

One mirror, two faces: Bill and Parris. (Pres. Bill Clinton; Maryland Gov. Parris Glendening)
February 14, 1997... Two years ago Gov. Parris Glendening warned President Bill Clinton not to campaign in Maryland because he was unpopular and unwanted in the state. In 1992, Glendening was prepared to endorse Clinton for president but over a long weekend he...

T. Rowe expands. (mutual fund firm T. Rowe Price Associates Inc)
February 28, 1997... Investment house looks for city satellite One of Baltimore's fastest-growing companies and largest employers is looking to lease additional space downtown and hire more people. T. Rowe Price Associates Inc., a mutual fund company with $479...

Firm says mail got dumped. (Agora Inc sues Circular Advertising Inc for undelivered mail)
February 28, 1997... A local publisher has filed suit against a direct mail company, charging that its mail was delivered to a Baltimore city dump. Agora Inc. is suing Circular Advertising Inc. for almost $2 million in losses, plus punitive damages, charging the...

Mmm! How sweet it is. (Flavor Rx Inc's flavored medications)
February 28, 1997... Mix a father who's a pharmacist, a son who's in advertising and a granddaughter who refuses to take her medicine. What do you get? In the case of the Harold Kramm family, you get Flavor Rx Inc., a family-owned company that offers mixtures...

Manufacturing still dropping. (Baltimore's manufacturing industries)
February 28, 1997... Industry's decline slows, study says Do people still make things in Baltimore? It's a critical question for the local economy, where the economic mainstays once were ships built at Sparrows Point and hot dogs made in Highlandtown....

Baltimore sales flowing for bottled water firm. (Snow Valley Inc)
February 28, 1997... When the Snow Valley water company tapped into the Baltimore area, it found a dehydrated market. Baltimore has long been considered a tough market for the bottled water industry, but Snow Valley President John LaPides instead saw the region as...

Downtown cafe puts Internet on menu. (Strand Cybercafe)
February 28, 1997... The Baltimore business community might be out to lunch a little longer after the Strand Cybercafe opens March 5. The Strand will give patrons unlimited access to the Internet on its 18 computer terminals, and will serve coffees, teas, espresso,...

Nurturing Maryland's tech industry. (business incubators)(Special Report: Technology)
February 28, 1997... Several of Maryland's high-technology incubators have expanded or are making plans to expand in an effort to lure more start-up companies. With Maryland's economic development efforts centered on making the state competitive with high-tech...

First Mariner sets sail for markets, branches. (First Mariner Bank)
February 28, 1997... First Mariner Bank continues to expand. The Baltimore-based bank, which already has 12 branches and $59.3 million in deposits as of Sept. 30, has filed applications with federal regulators to open three more branches. The additional branches...