Baltimore Business Journal articles from February 2001

Baltimore Business Journal archives from February 2001

High fiber.(fiber-optics companies, industry)(Industry Overview)(Statistical Data Included)
February 2, 2001... Optics firms employ 5,000 in region When Ganesh Gopalakrishnan and William Burns founded Columbia-based Codeon Corp. in 1999, they knew their company needed to be near its biggest customers. As a developer of high-tech components that...

Ravens wait for big payoff.
February 2, 2001... The Super Bowl is over, but the real fun is just beginning for the NFL champion Baltimore Ravens. Among the Ravens' first orders of business? Counting their Super Bowl earnings. And while that money may not be much, the Ravens, like so...

Allfirst No. 1 in deposits.(Allfirst Bank surpasses Bank of America)(Brief Article)
February 2, 2001... Bank overtakes BofA in local market share In a move years in the making, Allfirst Bank has surpassed Bank of America to claim the largest share of insured deposits in the Baltimore area. The results, which were recently published by...

Corrections.(Book of Money 2001, Vol. 18, January 2001; Baltimore Business Journal Vol. 18, Jan. 26-Feb. 1)(Brief Article)
February 2, 2001... * In the listing of SBA lenders [Book of Money 2001, Vol. 18, January 2001, Page 19A], The Patapsco Bank was listed by an outdated name. * In the List of Largest IT Consultants in the Baltimore area [Vol. 18, Jan. 26-Feb.1, Page 25],...

Final horn for the IBL?(International Basketball League, Continental Basketball Association, American Basketball Association)(Brief Article)
February 2, 2001... Remember the international Basketball League? The fledgling, Baltimore-based minor league basketball organization that once touted itself as being the antithesis of the established Continental Basketball Association? Well, it seems...

MTA wants Maryland.(legislation to change name of the Maryland Mass Transit Administration)(Brief Article)
February 2, 2001... Apparently, there is a lot in a name. Just ask the state's Mass Transit Administration, which had Sen. Thomas L. Bromwell, D-Baltimore, introduce a bill that would allow the transportation agency to officially change its name. The...

Local firm wins Miami job.(Structural Preservation Systems repairs historic building)(Brief Article)
February 2, 2001... Florida may not be a mecca for historic buildings, but it turns out one venerable old landmark -- a 75-year-old building known as Freedom Tower -- is getting some attention from historic preservationists, who have begun renovating the...

Gainers & Losers.(Brief Article)
February 2, 2001... Ravens mania continues to sweep the region. (Hey, even Redskins country was caught up in it.) It will likely last at least until the purple lights burn out. * Piper Marbury Rudnick & Wolfe Baltimore's largest law firm branches out with new...

Bill eases hospitals' quest for obstetrics.(Maryland legislation)(Brief Article)
February 2, 2001... Maryland hospitals seeking to offer childbirth services may not have to get the state's permission if legislation introduced last week is approved by the General Assembly. Hospitals such as North Arundel Hospital support Senate Bill 182 as...

Black & Decker recalling electric saws after injuries.(Brief Article)
February 2, 2001... Black & Decker Corp. and one of its subsidiaries are recalling nearly 120,000 electric saws that malfunctioned and injured their users. The Towson-based tool manufacturer is recalling 6,400 12-inch miter saws sold under the Industry &...

Local bars sued for pirating TV broadcasts.(Satellite Sports Inc.)(Brief Article)
February 2, 2001... A Florida company that sells the closed circuit television rights to major boxing matches is claiming that several Baltimore bars and restaurants pirated the broadcasts. In lawsuits filed Jan. 12 in U.S. District Court in Baltimore,...

Lawmakers' bills trying to heal nursing crisis.(Maryland)(Brief Article)
February 2, 2001... Maryland's elected officials continue to churn out legislation aimed at alleviating the state's dire nursing shortage or curing the long-term care industry's ills -- or both. A week after introducing a bill that would give tax credits to...

Watson Wyatt Worldwide.(health care costs rising for employers)(Brief Article)
February 2, 2001... * A Watson Wyatt Worldwide report released Jan. 24 states that employers' health care cost are increasing 10.3 percent this year, while the costs of prescription drug benefits rises a whopping 14.6 percent. The report also forecasts an average...

University of Maryland Biotechnology Institute.(receives National Institutes of Health grant)(Brief Article)
February 2, 2001... * The University of Maryland Biotechnology Institute (www.umbi.umd.edu) has received a $5.3 million grant from the National Institutes of Health (www.nih.gov) to help complete a new vaccine it has developed to stop HIV infections.

Concentra Medical Centers.(employee background check program)(Brief Article)
February 2, 2001... * Jessup-based Concentra Medical Centers has launched ConcentraCHECK, a confidential background check program for health care employers to use during the hiring process. Annual losses due to bad hires, theft and absenteeism are estimated...

Celsion Corp.(contract with M.H. Meyerson and Company Inc.)(Brief Article)
February 2, 2001... * Celsion Corp., a Columbia-based biotechnology company, has retained the services of M.H. Meyerson & Co. Inc. as a second member of its investment banking team. Moors & Cabot Inc. is Celsion's (www.celsion.com). other investment banker. Terms...

Cell institute planned.(at Johns Hopkins University School of Medicine)(Brief Article)
February 2, 2001... Johns Hopkins University School of Medicine (www.hopkinsmedllcine.org) is creating an institute after receiving $58.5 million of seed money from an undisclosed source. About a month after forming the Institute for Basic Biomedical...

Guardian doubles space at Arundel Crossing.(Guardian Services Group Ltd.)(Brief Article)
February 2, 2001... The Guardian Services Group Ltd. has leased more warehouse space in Odenton to make room for a planned expansion. The Baltimore logistics company (www.guardianservices.com) recently inked a four-year lease for 100,760 square feet of space...

MIE opens Louisiana office.(MIE Properties Inc.)(Brief Article)
February 2, 2001... Baltimore-based MIE Properties Inc., a developer of flex and research and development space, has expanded into Louisiana. The new office is located in Baton Rouge, and it has already began operations by buying 28 acres on Baton Rouge's...

Parking at the point.(office complex in Maryland)(Brief Article)
February 2, 2001... Parking is a big issue downtown. But, despite rumors to the contrary, it's not a problem at Tide Point -- the 400,000-square-foot office complex in Locust Point, according to developer Struever Bros. Eccles & Rouse Inc. Some tenants...

Environmental Technologies Group Inc.(moves headquarters)(Brief Article)
February 2, 2001... * Environmental Technologies Group Inc. (www.envtech.com), a developer and manufacturer of military and civil defense equipment, is relocating their operations from Towson to the Lakeside Business Park in Edgewood, Harford County. FRP...

Transwestern Commercial Services.(takes over management of Maryland buildings)(Brief Article)
February 2, 2001... * Transwestern Commercial Services (www.transwestern.net), a commercial real estate company with offices in Columbia, assumed management responsibilities for four buildings totaling almost 1 million square feet Owned by Lend Lease Real Estate...

Legg Mason Real Estate Services.(arranges loan for Residence Inn property)(Brief Article)
February 2, 2001... * William Libercci, vice president of Legg Mason Real Estate Services' Baltimore office (www.lmres.com), arranged a $9.5 million first mortgage loan for Columbia Residence Inn at 4950 Beaver Run Road, Columbia, Howard County. The borrower was...

Brightview Assisted Living.(Brief Article)
February 2, 2001... * Michael Drusano, vice president of Legg Mason Real Estate Services' Baltimore office, arranged a $6.5 million first mortgage loan for Brightview Assisted Living of Bel Air. Financing was organized for the borrower, an affiliate of the Shelter...

Colliers Pinkard.(Brief Article)
February 2, 2001... * Colliers Pinkard, a Baltimore commercial real estate firm, announced new owners and principals: Frank W. Andrews, Columbia; Peter W. Stanford, Baltimore; Robert A. Cochran, Charlotte, N.C.; Gregory M. Copps, Charlotte, N.C.; D. Maxwell Hanks,...

City counting fewer visitors in area hotels.(Brief Article)
February 2, 2001... Baltimore isn't packing in as many convention attendees this year as tourism industry leaders projected, and the city's success in recent years could be partly to blame. Groups meeting at the Baltimore Convention Center have yielded about...

Group opposes new tax.(Brief Article)
February 2, 2001... A group representing the states hoteliers is opposing a proposal to increase the occupancy tax in Cecil County. Cecil's state legislative delegation is considering whether to introduce a bill into the general assembly that would increase...

Craft fair coming to town.(Brief Article)
February 2, 2001... The Baltimore Convention Center and businesses in downtown Baltimore are preparing themselves for what should be an extremely busy weekend at the end of February. The American Craft Council's (www.craftcouncil.org) Baltimore show -- an...

Paramount Hotel Group.(Brief Article)
February 2, 2001... * Paramount Hotel Group (www.paramounthotelgroup.com), a Fairfield, N.J., company opened a new hotel in Howard County. The 105-room Columbia/Jessup Fairfield Inn opened its doors at 7300 Crestmount Road in Jessup Jan. 26.

Baltimore Marriott Waterfront Hotel.(Brief Article)
February 2, 2001... * The pre-opening marketing campaign for the Baltimore Marriott Waterfront Hotel took two honors at the Hospitality Sales and Marketing Association International Adrian Awards 2001 competition held Jan. 23. Advertising targeted at corporate...

Annapolis and Anne Arundel County Convention and Visitors Bureau.(Brief Article)
February 2, 2001... * Following similar guides put out by Baltimore City and the state last year, the Annapolis and Anne Arundel County Convention and Visitors Bureau (www.goannapolis.org) is publishing a brochure on African-American history. Like the city and the...

Guest Informant.(Brief Article)
February 2, 2001... * Guest Informant, the Woodland Hills, Calif., publisher of hotel visitors' guides recently inked an agreement with The Welcome Corp., the Thrifty Rental Car franchisee for the Baltimore, Washington, D.C., Richmond and Norfolk, Va. areas. ...

Sherwood Brands Inc.(Brief Article)
February 2, 2001... * Sherwood Brands Inc., a Rockville maker of confectionery and gift items, said that it expected to report a net gain of 20 cents per diluted share for the second quarter of 2001, which ended Jan. 31. Sherwood lost 3 cents per share on $10.2...

Big Five feeling the heat from regional rivals.(Brief Article)
February 2, 2001... A new study by the Public Accounting Report of Atlanta found that regional accounting firms are successfully stealing auditing work from the Big Five accounting firms. Baltimore-based Stegman & Co. (www.stegman.com) was listed in the study...

Legg Mason out of running.(Brief Article)
February 2, 2001... It appears that Legg Mason Inc. (www.leggmason.com) won't be buying Canadian mutual fund giant Mackenzie Financial Corp. (www.mackenziefinancial.com) of Toronto after all. According to industry rumors, Legg Mason was in the running to buy...

Firm's troubles mount.(Brief Article)
February 2, 2001... An Alabama Internet company that was ordered to "cease and desist" by Attorney General J. Joseph Curran Jr. has been caught up in legal squabbles in Baltimore before. Curran issued the order Jan. 25 against Powercard International Inc. of...

Maryland Association of Certified Public Accountants Inc.(celebrates 100 years)(Brief Article)
February 2, 2001... * The Maryland Association of Certified Public Accountants Inc. (www.macpa.org) is celebrating its 100th anniversary on Feb. 12 as well as 100 years of the CPA profession in Maryland. The association is holding a black tie celebration on...

PSA Market Leaders Fund.(Brief Article)
February 2, 2001... * It hasn't taken long for the managers of the PSA Market Leaders Fund to please investors. The new mutual fund that is being offered by PSA Financial Center (www.psafinancial.com) in Lutherville was able to beat the Standard & Poor's 500 Index...

Patapsco Bancorp Inc.(Brief Article)
February 2, 2001... * Patapsco Bancorp Inc. saw fiscal second quarter earnings rise 29 percent due in part to its merger with Northfield Bancorp Inc. in November. Patapsco announced earnings of $224,000, or 58 cents per share for the quarter ending Dec. 31,...

Mindsurf goes back to school.(Mindsurf Networks supplying wireless technology to schools)(Brief Article)
February 2, 2001... Advancing on its national roll-out of services, Baltimore-based Mindsurf Networks, a provider of wireless technologies to schools, launched a new program to provide 100 schools with wireless communication tools. Industry experts believe...

Advertising.com signs deal.(to cooperate with Greenfield Online Inc.)(Brief Article)
February 2, 2001... Baltimore-based Advertising.com (www.advertising.com), a developer of online direct marketing technology, joined forces with Witon, Conn.-based Greenfield Online Inc. to strengthen their presence in two industry sectors: online brand...

Unions see tech opportunities.(among high technology workers)(Brief Article)(Statistical Data Included)
February 2, 2001... Survey: Nearly halt of U.S. technical workers would organize Organized labor has been desperately frying to organize technology workers, and according to a recent survey, almost half of those sought-after individuals would join a labor...

Stock Snapshot: Circle.com.(Brief Article)
February 2, 2001... NASDAQ: CIRC The stock market was far from kind to Baltimore-based Circle.com this year. The consulting and Internet development firm's stock was trading above $10 a year ago but has since fallen to below $1. It may just be the...

BBJ Tech 25: A glance at Greater Baltimore's leading technology companies.(stock prices and brief news items for tech firms in the Baltimore area)(Brief Article)(Statistical Data Included)
February 2, 2001... [] BBJ Tech 25: A glance at Greater Baltimore's leading technology companies This Last Week's Week's Net Percent...

Equal opportunity.(men's health still not the focus of attention)(Statistical Data Included)
February 2, 2001... Despite increased awareness, men's health still not a target market Preventative health isn't just about mammograms anymore. Prostate cancer -- and mens' health in general -- is becoming increasingly more high profile in the health care...

Market Facts.(Maryland's health care costs rose in 1999)(Brief Article)(Statistical Data Included)
February 2, 2001... We all know health care is expensive. The report on state health care expenditures, recently released by Maryland Health Care Commission (MHCC) in January, explained what made it so expensive in 1999. MHCC's research showed that the cost of...

Give health insurance plans annual checkup.(business owners should)(Brief Article)
February 2, 2001... As a new year gets under way, business owners might want to consider examining their health insurance policies -- to be prepared when the policy comes up for renewal during the year. The No. 1 question people ask when they review their...

Largest employee benefits administrators based in Maryland.(ranked by dollar amount of premiums administered in 2000)(Statistical Data Included)
February 2, 2001... Largest employee benefits administrators based in Maryland (Ranked by dollar amount of premiums administered in 2000) Rank/ Name ...

Largest fitness center operators in the Baltimore area.(ranked by number of local members)(Statistical Data Included)
February 2, 2001... Largest fitness center operators in the Baltimore area (Ranked by number of local club members) Rank/ Name Number of last Address ...

Martin L. Doordan.(interview with president of Anne Arundel Health System Inc.)(Brief Article)(Interview)
February 2, 2001... Anne Arundel Health System Inc. Anne Arundel Health System is finishing up work on its Jennifer Road campus in Annapolis and preparing to leave its longtime home in the city's historic downtown. We caught up with Martin L. "Chip" Doordan,...

Essex Corp.(profile)(Brief Article)(Statistical Data Included)
February 2, 2001... 9150 Guilford Road / Columbia, 21046 / (301) 939-7000 / www.essexcorp.com Corporate profile Essex Corp. used to rely heavily on the support provided by its contracts with Motorola, while working on adapting the Iridium satellite...

People.(includes multiple appointments)(Brief Article)
February 2, 2001... The People section publicizes management-level hirings and promotions of area businesspeople. We also publicize elections to nonprofit and charitable organizations. We do not run professional certifications or designations. Send announcements...

Business Exchange.
February 2, 2001... Purple parade About 200,000 Baltimoreans crowded downtown streets on Tuesday, Jan. 30, to welcome back their conquering heroes -- the Baltimore Ravens. Admittedly, this isn't a typical Business Exchange, but nearly every businessperson in...

Managing projects: map out plan, put it in writing.
February 2, 2001... The key to successfully managing the 1,001 different parts of that huge project you were just assigned is mapping out a plan and getting it down in writing, said April O'Koren, president of Project Masters Inc. (www.projmasters.com). ...

Full health deductibility sought for self-employed.(U.S. Senator Christopher Bond)(Brief Article)
February 2, 2001... U.S. Sen. Christopher "Kit" Bond, R-Mo., introduced legislation to allow the self-employed to deduct 100 percent of their health insurance costs this year. Under current law, self-employed individuals can deduct 60 percent of their health...

Preventing costly fraud from harming bottom line.(Association of Certified Fraud Examiners)(Brief Article)
February 2, 2001... Fraud and abuse costs businesses more than $400 billion each year, according to the Association of Certified Fraud Examiners (www.cfenet.com). And small businesses are the most affected. To keep such costs in check, Mike Stephens of Clifton...

Seeking more than just money.(Today's business seller faces a whole new set of issues)(Brief Article)(Statistical Data Included)
February 2, 2001... Today's business seller faces a whole new set of issues When 30-year-old Matt Goddard sold Impreza Design late last year, he did not go with the highest bidder. The Baltimore entrepreneur instead looked for a firm that could carry his Web...

Shop Talk: How did you pick your management team?(Brief Article)
February 2, 2001... Henry Posko "We hire and promote from within whenever possible. When needed, we recruit individuals who will bring new talents and different perspectives. We chose leaders who are team players who embrace autonomy and encourage change. It...

Are you working more and enjoying it less?(Brief Article)
February 2, 2001... Do you read stories about other people's jobs with a sinking heart? Do you get the feeling that the new economy is for someone else? Are you working too many hours and accumulating too much stress? It' time to take stock. Far too many of...

Reviving an older suburb.
February 2, 2001... Drive through the Randallstown business district and the decline is apparent. No, it's not the blight you might witness in many of the city's sorriest areas. But it's there -- vacant buildings, aging shopping centers in need of a face-lift...

Super time for arena.
February 2, 2001... The Baltimore Ravens' high-profile Super Bowl victory -- and the enormous boost in civic pride and unity that accompanied it -- is convincing proof that the state did the right thing in spending nearly $200 million on a new football stadium....

O'Malley doesn't have to pay political dues to win.(Mayor Martin O'Malley being seduced to run for governor)(Brief Article)
February 2, 2001... Mayor Martin O'Malley is caught between the devil and the deep. With polls in hand and Baltimore on a rarefied Ravens high, O'Malley is being seduced to run for governor by his enormous popularity while at the same lime he's being tugged...

Transit bill gets moving.(Governor Parris N. Glendening introduces legislation)(Brief Article)
February 2, 2001... Maryland Gov. Parris N. Glendening has introduced legislation that would bolster the state's ailing transportation trust fund and help pay for $750 million worth of planned improvements to the state's mass transit systems. If Senate Bill...

CMSI acquired by First American.(Credit Management Solutions Inc., First American Corp. (Santa Ana, California))(Brief Article)
February 2, 2001... Credit Management Solutions Inc. of Annapolis Junction is being acquired by First American Corp., a business information company based in Santa Ana, Calif. The deal is for $52 million in stock and is expected to close by the second quarter of...

Mobile Coyote acquired by Va. firm.(Mobile Commerce and Computing)(Brief Article)
February 2, 2001... Baltimore-based Mobile Coyote, the company once held up as an example of the city's growing technology community, has been acquired by Reston, Va.-based Mobile Commerce and Computing. The firm paid $5 million in cash and stock for Mobile...

Piper Marbury opens California office.(Piper Marbury Rudnick and Wolfe L.L.P.)(Brief Article)
February 2, 2001... Piper Marbury Rudnick & Wolfe LLP has opened its first office in California and is planning an even bigger West Coast expansion. The Baltimore-based law firm was able to hire five lawyers from the Los Angeles-based firm of Troop Steuber Pasich...

Taking Stock.(Brief Article)(Illustration)(Statistical Data Included)
February 2, 2001... The BBJ Index [*] of 87 stocks closed at 1221.63 on Jan. 31, 2001. [] Weekly Gainers & Losers Price Corporation 1/31/01 % Change 1....

555-NEED business hangs up.
February 9, 2001... Nexus Communications Inc., an Anne Arundel County company that tried to usurp the traditional Yellow Pages, is shutting its operations and its signature 555-NEED telephone directory service, the company's chief executive officer said. "We...

BB&T on the prowl for banks.
February 9, 2001... Despite a temporary halt to its acquisition spree, BB&T Corp. is expected to make major moves into the Baltimore banking market as it steamrolls its way across the Mid-Atlantic, industry analysts say. Since 1999, Winston-Salem, N.C.-based...

Out of the dome.
February 9, 2001... Hopkins trying to prove it's entrepreneurial It may seem hard to believe, but Johns Hopkins University is searching for some respect. In spite of Hopkins' reputation as one of the world's most renowned medical institutions and its...

Lewin joins Legg Mason.
February 9, 2001... Legg Mason Wood Walker announced that Richard C. "Mike" Lewin, former Maryland Secretary of Business and Economic Development, has joined the firm as vice chairman of a newly created private funds group. Prior to working for the state, Lewin...

Ciena raises $1.5 billion.
February 9, 2001... Linthicum-based Ciena Corp., a maker of fiber-optic technology for the telecommunications industry, completed a public offering of 11 million common shares -- priced at $83.50 each -- and closed on the sale of $600 million of debt The stock...

CitiFinancial to add 500 jobs in city.
February 9, 2001... Longtime city business, CitiFinancial announced Feb. 8 that it will retain and expand its Baltimore headquarters at St Paul Place, adding as many as 500 new jobs. CitiFinancial's intent to stay in the central business district comes as a result...

Mercantile names new CEO.
February 9, 2001... Mercantile Bankshares Corp., the third-largest Baltimore-based bank with $8.9 billion in assets, announced that Edward J. Kelly would succeed longtime chief executive officer H. Furlong Baldwin March 1. Baldwin, who was named CEO. in 1976, will...

U.S. Foodservice makes acquisition.
February 9, 2001... U.S. Foodservice, the Columbia-based subsidiary of Ahold USA, has acquired 100 percent of the shares of Parkway Food Service. Clearwater, Fla.-based Parkway boasts sales of $85 million and services over 1,000 accounts. U.S. Foodservice is the...

Correction.
February 9, 2001... * In the listing of banks and thrifts [Book of Money, Vol. 18, Jan. 26-eb. 4, Page 14A], Valley Bank of Maryland, located at 130 Lakefront Drive, Hunt Valley, was listed under an incorrect name. The bank does not have a Web site.

Hotel up for overhaul.
February 9, 2001... Regular power-lunchers at the popular Windows restaurant inside the Renaissance Harborplace Hotel have probably noticed the restaurant's bar is closed for renovations. Many of them probably don't know they're getting a glimpse at what's in...

Lockheed seeks agency.
February 9, 2001... Defense industry giant Lockheed Martin Corp. is seeking a new agency to take over its $15 million advertising account and two Baltimore firms are in the running. Officials at both Gray Kirk VanSant and Eisner Communications Inc. confirmed...

Maryland riding high.
February 9, 2001... High taxes, a governor who kowtows to union bosses and a legislature known to be unkind to business. Say all you want about Maryland. We do. But according to a new study, it's one of the hottest places to live and work in the Mid-Atlantic....

Gainers & Losers.
February 9, 2001... Maybe Furlong Baldwin can now ghostwrite Mike Lewin's novel. * Furlong Baldwin Baldy finds a successor to the Mercantile throne. The torch is passed to J.P. Morgan alum Edward J. Kelly. * Patrick Nettles Ciena's CEO gets $1.5 billion...

Biotech backers seek state venture fund.
February 9, 2001... Maryland's burgeoning biotechnology industry is the target of a legislative initiative to create a state-sponsored venture capital fund. A bill filed earlier this month by a group of Montgomery County legislators calls for leaders of...

Businesses team to fight rental car tax.
February 9, 2001... Local business leaders are trying to stop a proposal to put an additional tax on rental cars at Baltimore/Washington International Airport. The Maryland Rental Car Coalition is gaining allies in its fight against Anne Arundel County...

Accounting firms seek looser ownership rules.
February 9, 2001... A new bill sailing through the General Assembly will allow unlicensed accountants and those outside the profession to own a stake in Maryland's certified public accounting firms. The bill was introduced in the House of Delegates in January...

Developer hopes for Sweetheart success.
February 9, 2001... The Cordish Co. (www.cordish.com) is apparently trying to bring more big-box retailers to Baltimore County. The company, operating under the name of Garrison Realty Investors LLC, recently secured the proper retail zoning for the former...