Baltimore Business Journal articles from February 2000

Baltimore Business Journal archives from February 2000

State steals Philly exec.(Brief Article)
February 4, 2000... Maryland's economic development team has signed ringer from Philly to lead an effort to attract more businesses to the state. State Secretary of Business & Economic Development Richard C. Mike Lewin has tapped Philadelphia Empowerment Zone...

IHS's predictions.(Brief Article)
February 4, 2000... Last Wednesday, Feb. 2, or Groundhog Day as it is populary known, was also the day officials at Integrated Health Services Inc., e Sparks-based manager of long term care facilities, filed for Chapter 11 bankruptcy protection. So as much a...

O'Malley on the warpath.
February 4, 2000... Mayor Martin O'Malley said he's ready to rumble. The city's highest elected leader is expected to appear before the House Appropriations Committee on Feb. 11, outlining his plan to reform the justice system, unclog the courts and hopefully...

Gainers & Losers.
February 4, 2000... Still driving down a snow- and ice-packed road? Consider changing your name to Kennedy. * Baltimore Ravens Nothing funny about this. The Ravens have to be concerned about the team's image and its future in the wake of the Ray Lewis...

Maryland misses out on a hot IPO market.
February 4, 2000... Even the most unprofitable companies on the planet seem to have been brave enough to take their businesses public last year. But Maryland companies were timid when it came to holding IPOs in 1999. All told, only eight Maryland companies...

Tech leader gains city higher marks in survey.
February 4, 2000... Charm City isn't doing as bad as some of its critics think, according to a new study by a Syracuse University research team. The report, published by Syracuse's Maxwell School of Citizenship and Public Affairs and Governing magazine,...

Union beating white collar in election booth.(Brief Article)
February 4, 2000... Money may be the mother's milk of politics, but business groups learned from organized labor's success in the 1998 congressional elections that money alone can't buy happiness on Capitol Hill. Business outspent labor by an 11-to-1 margin...

SCL changes its name to 'affirm the values'.(Senior Campus Living, to Erickson Retirement Communities)(Brief Article)
February 4, 2000... Senior Campus Living has adopted the name of its founder, John Erickson. The Catonsville-based company is now Erickson Retirement Communities. The name change, which is estimated to cost nearly $1 million, came about because company...

Scoring your heart.(Greater Baltimore Medical Center's coronary artery scoring service)(Brief Article)
February 4, 2000... The Greater Baltimore Medical Center's Department of Radiology is now offering a test that can help people in high-risk groups, but with no symptoms of heart disease, gauge the health of their arteries. The test, called coronary artery...

IWIF says state action may force rate increase.(Brief Article)
February 4, 2000... Officials from the Injured Workers Insurance Fund say the insurer may have to raise its insurance rates for businesses if legislators follow through with changes to e Towson-based workers' compensation insurer, officials from the insurer said....

Delegate: Alter clothes tax.(bill proposes sales tax exemption)(Brief Article)
February 4, 2000... Also in the House of Delegates, a bill is being introduced that would exempt clothing and footwear purchases under $75 from Maryland's sales tax. Delegate James F. Ports Jr. (R-Baltimore County and City), wants to introduce The Family...

Annuity popularity.(Fidelity & Guaranty life Insurance Co. sales statistics)(Brief Article)
February 4, 2000... The popularity of annuity products in the United States surely helped Fidelity & Guaranty life Insurance Co. (www.fglife.com) with its 1999 sales drive. New sales at the Baltimore-based company increased 100 percent over 1998. The...

NRT acquires Harford real estate company.(ERA Bob Ward Realty Inc.)(Brief Article)
February 4, 2000... NRT Inc. acquired ERA Bob Ward Realty Inc., one of the largest residential real estate companies in Harford County. NRT is the parent company of local real estate powerhouse O'Conor, Piper & Flynn. Terms of the deal, which was...

Arundel building planned.(Constellation Real Estate Inc. and Anne Arundel Health Systems Inc. are developing an office building)(Brief Article)
February 4, 2000... Constellation Real Estate Inc. and the Real Estate Holding Group of Anne Arundel Health Systems Inc. are developing their first office building at Annapolis Exchange, a 28-acre business park at Jennifer Road and MD Route 50. The five-story...

Corporate Office on a roll.(Corporate Office Properties Trust growth statistics)(Brief Article)
February 4, 2000... Corporate Office Properties Trust, which is headquartered in Columbia, was the No. 1 office REIT for 1999 in terms of total return, according to analysts. The company showed an 18.2 percent growth over 1998 in total return, said Ken...

Bridging the gap.(National Aquarium contracts Turner Contracting Co. to replace bridge)(Brief Article)
February 4, 2000... Wondering what that crane is outside of the National Aquarium in Baltimore? Well, Aquarium officials have hired Whiting-Turner Contracting Co. of Baltimore to replace the old wooden foot bridge that linked the Pier 3 and Pier 4 buildings. ...

Saval comes to town.(Saval Foods Corp.'s new manufacturing plant)(Brief Article)
February 4, 2000... Companies moving out of the city get a ton of coverage. Those moving in, however, sometimes get overlooked. Well, 68-year-old Saval Foods Corp. moved into its new city manufacturing plant last month and officials are ecstatic about their...

Breaking tradition.(providers of alternative medicine services in Maryland)
February 4, 2000... Institutions otter alternative treatments to complement conventional care At St. Joseph Medical Center, when drugs alone can not stop the hurt suffered by open heart surgery patients, cardiologists will soon be asking massage therapists to...

Largest employee benefits administrators.(Maryland)(Brief Article)(Directory)(Statistical Data Included)
February 4, 2000... Largest employee benefits administrators (Ranked by amount of premiums administered in 1999) Rank Name 1999 premiums Address ...

To meet patient needs, docs head to the Web.(Brief Article)(Statistical Data Included)
February 4, 2000... Ever have health care questions and just not want to pick up the phone and track down your physician or reach for a medical encyclopedia to search for the right information? Some doctors, as well as physicians and companies internationally,...

Managing obesity can reduce health care cost.(Brief Article)
February 4, 2000... In a tightening labor market, it becomes more and more important for employers to help keep employees healthy -- realistically, the limited availability of replacement workers and the costs associated with recruiting and training argue for...

A Conversation With Sandy River licensed acupuncturist.(Brief Article)(Interview)
February 4, 2000... People are not the only ones benefiting from the growing popularity of alternative, non-traditional approaches to health care these days. Perhaps not surprisingly in these days of pet superstores and specialty pet products, animals also can get...

Biotech stocks on the rise.(Brief Article)(Statistical Data Included)
February 4, 2000... They're racing to find cures for cancer, AIDS and the common cold. Investors are throwing money at them. But annual reports say they won't be profitable for years. But biotech stocks are getting a second wind. For the first two weeks of...

Researchers urged to get patent protection.
February 4, 2000... The ideas that make toothpaste more effective or diagnose breast cancer more accurately are being conceived at universities, but even these ideas need protection. That is where administrators such as Marjorie Forster, executive director of...

BGE'S artistic beginnings.
February 4, 2000... Baltimore Gas and Electric Co. is one of the region's corporate titans, a symbol of stability on a business landscape that has changed dramatically over the past 100 years. An amazing feat, when you consider the quirky -- even eccentric...

Largest fitness center operators in the Baltimore area.(Statistical Data Included)
February 4, 2000... Largest fitness center operators in the Baltimore area (Ranked by number of local club members) Rank/ Name Number of last Address ...

The basics.(Nexus Cabling Inc.)(Statistical Data Included)
February 4, 2000... Cabling company tries tried and true business methods Jim and Jacqueline Harrell are proving by example that the basics of business still hold true in the digital age. Since launching Columbia-based Nexus Cabling Inc. in January 1999...

What is your snow policy?(Brief Article)
February 4, 2000... "At WMAR-TV Channel 2, we are committed to our community to report the news everyday. We understand that many people throughout the Baltimore area rely on 2News to receive information about the snowstorms and school closings. So, when our...

City company puts dollar value on Web.
February 4, 2000... Matt Goddard likes to sit down with his clients and talk about the numbers. "It's really what it's all about," said the 28-year-old president of Baltimore-based Impreza, a multimedia Web development firm. Goddard, applying standard...

Mikulski to lead fight against 'digital divide'.(Sen. Barbara Mikulski)(Brief Article)
February 4, 2000... Sen. Barbara Mikulski told a group of state legislators and business leaders that she will lead the fight to help individuals and businesses cross the so-called "digital divide" by puffing more technology in schools and by drafting legislation...

Harford firm hits Top 100.(oneLeaf.com LLC)(Brief Article)(Statistical Data Included)
February 4, 2000... Edgewood-based oneLeaf.com LLC , a Web development firm, made the new Top 100 list put together by Channelseven.com, on online industry publication. The list of Web developers, which was released last week, doesn't rank each firm, but is...

Aether buys LocusOne.(Aether Systems Inc., LocusOne Communications Inc.)(Brief Article)(Statistical Data Included)
February 4, 2000... Owings Mills-based Aether Systems Inc., the growing wireless data company, will pay $40 million in cash for Richmond, Va-based LocusOne Communications Inc., pending shareholder approval. The acquisition of LocusOne (www.locusone.com) is...

BBJ Index [*].(Brief Article)(Illustration)(Statistical Data Included)
February 4, 2000... BBJ Index [*] Weekly Gainers & Losers Price Corporation 2/2/00 % Change 1. Jos.A. Bank Clothiers (JOSB) ...

Chesapeake Biological Laboratories Inc.(business profile)(Brief Article)(Statistical Data Included)(Company Profile)
February 4, 2000... Corporate Profile After a rocky start in 1999, Chesapeake appeared to finish the year on an up note. A year ago, the company started a management reorganization -- which included hiring a new president and chief executive, implemented a...

People.(includes information on various corporate executive appointments)(Brief Article)
February 4, 2000... * Accounting American Express Tax and Business Services Inc. hired T. Scott Basik as a managing director responsible for state and local taxes. Basik is a former assistant attorney general with the State of Maryland. * Advertising ...

Volunteer execs show commitment.(Greater Baltimore)(Brief Article)(Statistical Data Included)
February 4, 2000... Sometimes forget how lucky we are to live and do business in true community, not just a collection of streets and houses. Despite its problems and challenges, Greater Baltimore is indeed a living, breathing community full of committed people...

Fee changes necessary.(Brief Article)(Statistical Data Included)
February 4, 2000... Late payments are more than a nuisance for businesses. Delinquent payments cost Maryland employers millions each year. The Maryland Chamber of Commerce is pushing this year to change a state law that limits the amount a business can charge...

Business realities must eventually hit Internet.(Brief Article)
February 4, 2000... It's a new day, and all that. But someday, Amazon.com and other companies of its kind will have to make money. Potential isn't enough. We can talk all we want about synergy; market share and first-to-market advantages. We can talk...

Cordish plans new waterfront garage.(Brief Article)
February 4, 2000... The Cordish Co., one of downtown's most active developers, plans to build a multi-level garage off Pratt Street -- a move that could alleviate some of the parking crunch in the Inner Harbor area. The lack of parking has zipped past crime as...

Snow storm losses into billions.(Brief Article)
February 4, 2000... On a typical Tuesday night, The Rocky Run Tap and Grill in Columbia normally counts on pulling about $10,000 in sales. During the recent Nor'easter, Rocky Run General Manager Pete Bosen, said he was lucky to have scraped together $2,600...

Aquarium eyes failed attraction.
February 4, 2000... Columbus Center markets its space The National Aquarium in Baltimore is negotiating with the owner of the Columbus Center to take over the former Hall of Exploration, the marine biology exhibition that failed to attract enough tourists to...

F. Union drops in market.(First Union National Bank)(Brief Article)(Statistical Data Included)
February 4, 2000... Chevy Chase Bank and First Union National Bank played a game of leapfrog in 1999. And Chevy Chase won. Chevy Chase (www.chevychasebank.com) moved ahead of First Union (www.firstunion.com) in total insured deposits in Maryland as of...

IHS files petition for bankruptcy.(Integrated Health Services Inc.)(Brief Article)(Statistical Data Included)
February 4, 2000... Integrated Health Services Inc., the Sparks-based manager and owner of long term care facilities nationwide, filed a voluntary petition with the U.S. Bankruptcy Court in Delaware under chapter 11 of the U.S. Bankruptcy Code on Feb. 2. Officials...

McCormick signs FTC settlement.(Brief Article)(Statistical Data Included)
February 4, 2000... McCormick & Co. Inc. announced that it has signed a settlement agreement negotiated with the Federal Trade Commission to resolve the agency's claims that the Sparks spice company violated federal price discrimination rules in three of its...

Crown board adopts poison pill.(Crown Central Petroleum Corp.)(Brief Article)(Statistical Data Included)
February 4, 2000... The board of directors at Crown Central Petroleum Corp. has adopted a shareholders' rights plan to guard against a potential hostile takeover. The plan creates two new classes of stock: Series A and Series B Junior Participating Preferred...

CORRECTION.
February 4, 2000... The Book of Money [Vol. 17, Jan. 28-Feb.3] incorrectly listed the founding date of First Mariner Bancorp. The bank was founded in 1995. Also, Sparks State Bank's CEO was incorrectly listed in the List of Largest Depository Institutions. Bradley...

Two Howard firms seek IPOs.(Brief Article)(Statistical Data Included)
February 11, 2000... Sequoia, iSky file to raise a total $129M Two Columbia-based technology companies -- both of which have yet to turn a profit -- are heading to Wall Street in hopes of raising a combined $129 million in initial public offerings. iSky...

On loan.(municipal government programs in Baltimore)(Brief Article)
February 11, 2000... 'Borrowed' employee survives City Hall Linda Austin had no idea what to expect when she stepped into her temporary role in the new mayor's office last November. "It was like a storm every day," said the research specialist who has...

Real estate firm eyes area.(WhiteHall Street Real Estate, Baltimore)(Brief Article)(Statistical Data Included)
February 11, 2000... Another player is trying to break into the Baltimore/Washington real estate scene, one that could make the competition for industrial property even lighter. Whitehall Street Real Estate Limited Partnership, the real estate principal...

Md. may lose IHS state loan.(Maryland, Independent Health Services)(Brief Article)
February 11, 2000... If Integrated Health Services Inc. misses employment targets stipulated by a $2.5 million state loan, Maryland officials admit they are hogtied when it comes to recouping taxpayer money. In December 1996, the state shelled out millions to...

FTI makes acquisition.(FTI Consulting, Policano and Manzo)(Brief Article)
February 11, 2000... FTI Consulting Inc., an Annapolis legal consulting firm, has acquired Policano & Manzo LLC, a privately held consulting firm that provides bankruptcy and turnaround consulting services to large corporations. The deal is worth approximately $50...

Rent-A-Wreck authorizes buyback.(Brief Article)(Statistical Data Included)
February 11, 2000... The board of directors at Rent-A-Wreck of America Inc., an Owings Mills-based used-vehicle rental firm, have authorized the repurchase and retirement of up to one million shares of common stock. All of the company's previously approved...

BBJ claims seven MDDC awards.(Brief Article)
February 11, 2000... The Baltimore Business Journal's investigative report on the city's looming fiscal crisis, "Flirting with Disaster," took first prize in the Maryland, Delaware, D.C. Press Association's 1999 Editorial Contest Additionally, staff members placed...

Correction.(Correction Notice)
February 11, 2000... The list of Largest Accounting Firms in the Baltimore area [Vol. 17, Dec. 17-23, Page 12A] failed to include Naden/Lean LLC. The accounting firm would have ranked number 17. The Baltimore Business Journal regrets the error.

Club to get revived?(Baltimore nightclubs)(Brief Article)
February 11, 2000... Lou Principia, the owner of the now-demolished Hammeijacks nightclub in South Baltimore, said his plan to develop a new club at 1226 Wicomico Street may not be dead after all. Originally, Principio wanted to convert the old warehouse near...

Gainers & Losers.
February 11, 2000... Hey, FTC, now that the McCormick issue is solved, how about checking out the 'Chesapeake' crab controversy? Hugh McColl When you pay $3 million for a Web site address, as the chairman of Bank of America did this week, it's good times at...

Johns Hopkins cancer center nearing finish.(Brief Article)(Statistical Data Included)
February 11, 2000... Officials: Construction delays are 'not out of the ordinary for major project The much-anticipated Johns Hopkins Comprehensive Cancer Center is slated to open at the end of March, about six months behind schedule. Work is still being...

Businesses missing tax credit opportunities.(Brief Article)(Statistical Data Included)
February 11, 2000... Maryland businesses are losing out on millions in state tax credits. Each year since 1996, the state Department of Housing and Community Development (www.dhcd.state.md.us) has awarded nearly $1 million in state tax credits to non-profit...

Fencing distributor to expand with BDC loan.(Tenax, Baltimore Development Corp.)(Brief Article)(Statistical Data Included)
February 11, 2000... The Baltimore Development Corp. is giving a $350,000 loan to Tenax Corp., an international distributor of plastic netting, fences and grids. The money will be used to assist with the company's expansion. Tenax, which operates a...

REIT improves in quarter.(real estate investment trust: Westfield America Inc.)(Brief Article)(Statistical Data Included)
February 11, 2000... Westfield America Inc., a real estate investment trust, reported year-end earnings that show improvement over 1998 but lag behind others in the industry. The company, which owns 35 regional shopping centers including the Annapolis Mall,...

Park nearing completion.(Route 101 Office/Residential Park)(Brief Article)(Statistical Data Included)
February 11, 2000... The development of Route 100 Office/Residential Park off Route 29 in Howard County is nearing completion. A new Bob Evans Restaurant is under construction adjacent to the Marriott Residence Inn and is expected to open at the end of April....

Homebuilders back bill.
February 11, 2000... Del. Wade Kach, R-Baltimore County, and Sen. John Astle, D-Anne Arundel, have introduced legislation to establish a registration program for new home builders. The proposed program, which would fall under the auspices of the Consumer...

Energy companies doing business in Maryland.(Directory)(Statistical Data Included)
February 11, 2000... Energy companies doing business in Maryland (Ranked by number of Maryland employees) Name Employees: Rank Address ...

Legislators look for nursing shortage solution.(Brief Article)(Statistical Data Included)
February 11, 2000... Maryland nurses know they are in demand. But unless something changes, what is being called a nursing shortage could rapidly become a nursing crisis. But the statewide nursing problem is now being made into a high-profile issue for...

JHU gets big fed bucks.(John Hopkins University School of Medicine)(Brief Article)(Statistical Data Included)
February 11, 2000... The Johns Hopkins University School of Medicine (hopkins.med.jhu.edu) was the top earner of federal biomedical research funding in 1999, according to figures released by the Bethesda-based National Institutes of Health. The school, which...

Digene has strong quarter.(Brief Article)(Statistical Data Included)
February 11, 2000... Digene Corp., the Beltsville-based developer of tests to detect sexually transmitted diseases in women, said the last quarter of 1999 was the company's best ever. Digene (www.digene.com) recorded revenues of $5.3 million for the quarter...

Innovative Outsourcing LLC.(Brief Article)(Statistical Data Included)
February 11, 2000... * Innovative Outsourcing LLC, a Hunt Valley-based health care claims processing and capitation management company, was hired to manage the commercial, Medicare and Medicaid at-risk membership of MedStar Physician Partners, a subsidiary of...

Celsion Corp.(Brief Article)(Statistical Data Included)
February 11, 2000... * Columbia-based research company, Celsion Corp. (www.celsion.com), closed a private offering on Feb. 3, raising $4.2 million. A portion of the proceeds will be used to continue funding Celsion's clinical trials of its focused heat technology...

Mercy Medical Center.(Brief Article)(Statistical Data Included)
February 11, 2000... * Mercy Medical Center's Website, www.mdmercy.com, is about to get overhauled to make it more user friendly and improve the site's visual attractiveness. The hospital is spending $6,000 to help established physicians learn more about what Mercy...

Rising up.(Industry Overview)
February 11, 2000... Community banks make business by finding their niche Michael P. Meisel sees banks getting bigger, and it does not bother him one bit Like other executives at small banks throughout the Baltimore region, he believes that, by sticking close...

Market Facts.(Brief Article)(Statistical Data Included)
February 11, 2000... Competition has never been tougher for the nation's banks and thrifts. With consumers looking for the higher returns offered by mutual funds and stocks in this ongoing economic boom, banks have had to really sell themselves to customers for the...

Laura Borgerding.(Brief Article)(Statistical Data Included)(Interview)
February 11, 2000... Bank of America Small Business Banking Group In a growing economy, small-business lending is an important component of any local bank's business strategy. While community banks tout their ability to offer their clients personalized service...

T. Rowe Price to offer broker-only shares.(Statistical Data Included)
February 11, 2000... T. Rowe Price Associates is changing its spots. The Baltimore-based fund company wants to start compensating brokers who sell its mutual funds. That's a new venture for T. Rowe Price, especially since it built its highly-successful...

An early start on planning retirement is crucial.(Statistical Data Included)
February 11, 2000... Although retirement may be years down the road for many of us, getting a head start on planning your financial future after retirement could substantially improve your lifestyle during the golden years. Failure to plan could result in a...

Automatic bank drafts gaining momentum.
February 11, 2000... An age-old challenge faced by accounts receivable departments is timely payment from customers. Many businesses are finding that they can solve a host of collections and accounts receivable issues with automatic bank drafting, a process of...

A faux phenomenon.
February 11, 2000... Formstone. It's a name that elicits snickers in these early days of the 21st century. But, for better or worse, no other invention had quite the impact on Baltimore's look than this faux stone product, with its glitzy flamingo-pink...

Giving voice to a people.(Brief Article)
February 11, 2000... W. Paul Coates Sr. calls his family's Black Classic Press a "young press with some very old ideas." At first glance, the statement appears to be a contradiction in terms. In reality, though, it fits BCP perfectly. The Baltimore-based...

Largest manufacturers in the Baltimore area.(Directory)
February 11, 2000... Largest manufacturers in the Baltimore area (Ranked by number of local employees) Rank/ Name Last Address year Phone / Fax / Internet or e-mail address 1 Northrop Grumman Corp.-Electronic Sensors...

To buy or not to buy.(Brief Article)
February 11, 2000... Spicer Productions weighs cost-effectiveness and price A question worth pondering: How often should you buy new technology toys, and how much should you spend? It's a question Bill Spicer faces every day. As president of one of the...

Do you subsidize parking?
February 11, 2000... Marketing Manager/Hord Coplan Macht, Baltimore "Yes... HCM makes sure that garage parking is available to all of our staff. We pay for at least 75 percent of the monthly parking charges. From $110 to $125 of the current $150 monthly charge...

Bills underway to standardize e-commerce.(Brief Article)
February 11, 2000... Maryland legislators have introduced two bills that are designed to take electronic commerce to the next level. The Uniform Electronic Transactions Act (HB18) and the Uniform Computer Information Transactions Act (HB19) were introduced...

Toad.net set to leap into state's rural corners.(Brief Article)
February 11, 2000... The deal that was supposed to roll up three local Internet service providers last year may have fallen by the wayside, but that hasn't stopped Severna Park-based Toad.net Inc. from jumping into new markets. David Troy, president and founder...

Taking Stock.(Brief Article)
February 11, 2000... The BBJ Index [*] of 76 stocks closed at 1375.29 on Feb. 9. Annual Performance Fiscal year ending December 31 Net Income (in millions) 1994 $24.5 1995 -$2.7...

Ryland Group Inc.(Brief Article)(Statistical Data Included)
February 11, 2000... Corporate profile Ryland Group Inc., one of the nation's largest homebuilders, had a strong year, boasting the highest third-quarter net earnings in the Columbia-based company's history. Ryland, which also provides mortgage-finance...