Baltimore Business Journal articles from February 2001

Baltimore Business Journal archives from February 2001

Costly legacy.
February 23, 2001... Is Gov. Glendening mortgaging the state's future? Editor's note: Gov. Parris N. Glendening's penchant for spending has earned him the nickname "Spendening." And though most Democrats in the State House praise the governor's ability to...

U.S. Can expands in county.
February 23, 2001... U.S. Can Corp., an Illinois-based manufacturer of steel containers for personal care and industrial products, is expanding and taking more than 200,000 square feet of warehouse space in Baltimore County. The company (www.uscanco.com)...

UMBI seeks funding for failed center.
February 23, 2001... The University of Maryland Biotechnology Institute wants to revive the failed Hall of Exploration in downtown Baltimore's Columbus Center as part of a larger plan to become a major force in shaping the state's biotech industry. But the...

Provident to buy back gadfly's shares.
February 23, 2001... Provident Bankshares announced that it has reached agreement to buy back all of the 1.4 million shares held by a partnership that was trying to force the company to sell its stock. Mid-Atlantic Investors, led by H. Jerry Shearer, has agreed...

Net income rises at Allfirst.
February 23, 2001... Allfirst Financial Inc. announced net income to common shareholders of $184.4 million for 2000, an increase of 7 percent over 1999 earnings to common shareholders. Net income was $184.8 million before the dividend expense, a 3 percent...

Annapolis firm buys reachNet.
February 23, 2001... Annapolis-based TeleCommunication Systems Inc., a developer of wireless messaging software, paid $500,000 in cash and 59,000 shares of stock for Baltimore-based reachNet Inc., a company that develops wireless technologies for the deaf. Shares...

Corrections.
February 23, 2001... * The news brief "Black & Decker shuts down plant" [Week in Review, Vol. 18, Feb. 16-22, Page 2], was incorrect. House Products Limited Mexico, a Queretaro, Mexico production plant that recently laid off 2,400 workers, formerly was a...

Whining about wine.
February 23, 2001... A consumer advocacy group is pointing to a case of wine Gov. Parris N. Glendening won in an NFL playoff bet with California example of why the state should rescind its importing wine across state lines. Free the Grapes, a Napa...

Filling minority post.
February 23, 2001... With Brian D. Morris' contract set to expire Feb. 28, city officials are rushing to fill the top job for the new Office of Minority Business Development. Morris, who was hired temporarily in the post, said a new director is not likely to...

NBA bypasses Baltimore.
February 23, 2001... The NBA Vancouver Grizzlies may be on the move, but don't look for Baltimore to pop up as a possible drop site for the flailing franchise. Two years after Charm City was mentioned as a possible relocation site for the NBAs Houston...

Gainers & Losers.
February 23, 2001... With the way former President Clinton is craving attention these days, we're surprised he's not in the Sports. Illustrated swimsuit issue. [Uparrow] Provident Bankshares A disgruntled shareholder is bought out and the independent bank is...

Small businesses fear bankruptcy reform.
February 23, 2001... Federal bankruptcy reform legislation making itsway through Congress may lead to more small business failures in Greater Baltimore, legal and business experts say. A main provision of the House version forces small businesses using...

Ripken stadium looks for naming rights deal.
February 23, 2001... Imagine the possibilities: Frito-Lay Field or Saks Fifth Avenue Stadium. Representatives of Baltimore-based Tufton Sports & Management -- the group overseeing the development of Cal Ripken Jr.'s baseball stadium and youth training...

Cable company sues Locust Point tech firm.
February 23, 2001... Baltimore-based TidePoint Corp. is not paying its bill for nearly $130,000 worth of work on its data center, according to a lawsuit filed. by a contractor. Control Cable Inc., a Baltimore-based cable and networking firm, filed a lawsuit...

Fight nears for heart surgery bill.
February 23, 2001... Legislation that would make it easier for Maryland hospitals to start performing cardiac surgery figures to be among the most hotly contested health care bills in this year's General Assembly session. Under the bill, hospitals that do...

UM center breathes life into biotech efforts.
February 23, 2001... Not even a year old, the University of Maryland's Center for Clinical Trials already is exceeding its founders' expectations. The new clinical research facility has surpassed the projected number of contracts and is making inroads into...

Looking up at Spectera.
February 23, 2001... Somewhere David Hall, the chief executive officer of Spectera Inc., is breathing a short sigh of relief. Three years after Hall challenged his Baltimore-based vision care company to increase its revenues by 40 percent by 2000, the company...

Parexel opens at Harbor.
February 23, 2001... Parexel International Corp. (www.parexel.com), a Waltham, Mass.-based drug testing firm, has opened an office at Baltimore's Harbor Hospital. The Baltimore Clinical Pharmacology Research Unit offers drug development firms and Harbor...

John Erickson.
February 23, 2001... John Erickson, the chairman and founder of Catonsville-based Erickson Retirement Communities (www.ericksonretirement.com), has been selected to serve on the Commission on Affordable Housing and Health Care Facility Needs of Senior Citizens.

Blacks, seniors spending more money online.
February 23, 2001... Try fitting this into the marketing plan for your online operation: African-Americans, senior citizens and households with annual incomes of under $30,000 are the groups that have made the largest increases in their propensity to buy online....

County upset over signs.
February 23, 2001... The management at Security Square Mall in Woodlawn is hoping that new road signs on the Beltway will bring in more customers. But Baltimore County officials say the signage, which implies that the mall is one of the county's designated...

Blocking the middle man.
February 23, 2001... Bricks-and-mortar retailers are increasingly throwing up unnecessary barriers to consumer choice through e-commerce, and it's costing American buyers billions, according to the Progressive Policy Institute. In a report released in...

Broadway suites hotel project moves forward.
February 23, 2001... Metroventures/USA Inc., a Baltimore-based minority development firm, is moving forward with plans to develop a 128-room, extended-stay hotel on a city-owned property across from the Johns Hopkins Medical Campus. The 19-story senior...

New owners at Vaeth.
February 23, 2001... George Vaeth Associates Inc., a Columbia architecture firm, is under new ownership. Christopher R. Lester and Stuart L. Rehr recently took over at the helm of the company that was started by George F. Vaeth Jr. The move should come...

Va. firm coming to area.
February 23, 2001... Fraser Forbes Co., a McLean, Va., land brokerage firm, plans to open a Maryland office to serve the Baltimore, Delaware and Pennsylvania regions. The company (www.fraserforbes.com) is searching for new space in the metropolitan Baltimore...

Subleasing at Tide Point.
February 23, 2001... It is true that Tide Point, the 400,000-square-foot office complex in Locust Point, is about 85 percent leased. But some of that space in the former Procter & Gamble Co. plant is already cropping up for sublease. Advertising.com, an...

Bankers, credit unions back new regulations.
February 23, 2001... The state's banking lobby and the Maryland Credit Union League have become strange bedfellows. The two groups support legislation making its way through the General Assembly that would overhaul regulations for state-chartered credit unions....

BofA targets affluent.
February 23, 2001... Bank of America Corps (www.bankofamerica.com) wants to manage more affluent money and has put "Premier Banking" offices in Columbia and Annapolis. The premier banking concept is sort of a steppingstone to private banking, and it's only...

Bank offering investments.
February 23, 2001... The Columbia Bank has assembled a new financial services group which will sell stocks and mutual funds as well as insurance products such as annuities. Eventually, the bank (www.thecolumbiabank.com) is expecting to hire more brokers and...

Techies help city celebrate.
February 23, 2001... The sluggish economy and lackluster tech sector isn't stopping two local firms from donating more than $10,000 worth of work to the 2001 Preakness Stakes. The folks at Baltimore-based Bionic Box Inc. (www.bionicbox.com) and...

Caliber nabs S1M deal.
February 23, 2001... Baltimore-based Caliber Learning Network Inc. (www.caliber.com), a provider of distance learning technologies and products to corporate clients, struck a deal with Marlborough, Mass.-based Shipley Co. LLC to produce a series of training...

Making the Web accessible.
February 23, 2001... Severna Park firm hopes to make millions from new regulations A law requiring federal agency Web sites to become handicapped-accessible is pushing millions of dollars into the coffers of the firms that do the work. The Rehabilitation...

Stock Snapshot: Condor Technology Solutions Inc.
February 23, 2001... OTC: CNDR.OB Annapolis-based Condor Technology Solutions has rolled up more than a dozen information technology consulting firms, but it has, yet to impress Wall Street. The company's stock price hit a 52week high of $1.78 on March...

BBJ Tech 25: A glance at Greater Baltimore's leading technology companies.
February 23, 2001... BBJ Tech 25: A glance at Greater Baltimore's leading technology companies This Last ...

Career Rewards Inc.
February 23, 2001... Career Rewards Inc. of Baltimore closed on a $7.75 million funding round led by Hollinger Digital and backed by Grotech Capital Group, Mid-Atlantic Venture Funds and Steve Walker & Associates. Career Rewards is an Internet recruiting company.

V-ONE Corp.
February 23, 2001... Germantown-based V-ONE Corp., a provider of client/server virtual private networks technology, closed a private placement for about $7 million in new equity capital. Under the term of the offering, V-ONE issued Series D Convertible Preferred...

Software of Silver Spring plans.
February 23, 2001... Imagination Software of Silver Spring plans to bolster its sales and marketing efforts its electronic paper management system using $400,000 in funding from HFS Venture Fund. The company's Virtual Copier product enables paper documents to be...

Chris Nguyen.
February 23, 2001... Caliber Learning Network Inc. BBJ: Where did you get the idea for your business? Nguyen: We got the idea for Caliber while at Sylvan Learning Systems. We were using a distance learning service to help train our franchisees and...

The great outdoors.
February 23, 2001... State taking advantage of growing trend toward 'nature tourism' A married couple spends a weekend hiking scenic, rolling hills under a glowing sun in Harford County. Another family bikes several miles along an amazingly preserved route...

Market Facts.
February 23, 2001... There's a place in Maryland that is growing almost faster than it can keep up with: Howard County. From rising populations and a growing number of businesses to the rapid expansion of housing and development, the county Tourism Council's...

BWI tops Dulles in race to attract passengers.
February 23, 2001... Ballimore/Washington International Airport continues to top Dulles as the region's busiest airport. For December, BWI (www.bwiairport.com) bested Dulles International and Reagan National airports for the fifth straight month. The Maryland...

Towne Park wins contract.
February 23, 2001... Annapolis-based Towne Park just landed the contract to provide valet and garage management to the Four Seasons Hotel, Washington, D.C. Terms weren't disclosed. It's Towne Parks (www.townepark.com) sixth full-service Washington hotel...

Host Marriott shares sold.
February 23, 2001... Bethesda-based Host Marriott Corp. and the Blackstone Group recently reported that Blackstone Real Estate Partners converted less than 30 percent of their operating shares, or 12.5 million shares, into common shares. Those shares later...

Hotel REIT on the rise.
February 23, 2001... LaSalle Hotel Properties, a Bethesda real estate investment trust, reported a 9 percent increase in funds from operations for 2000 to $48 million, or $2.59 per share, compared with $44.1 million, or $2.39 per share, in 1999. In the...

Marriott sells Hawaii hotel.
February 23, 2001... Marriott International reported the recent sale of the Ritz-Carlton Kapalua in Maui, Hawaii, for about $144 million to Capital Hotel Investments, a joint venture between Marriott and affiliates of Blackacre Capital Management Last...

Mike Noah.
February 23, 2001... Ocean City Department of Tourism Mike Noah, a marketing professional who ran his own firm in Williamsburg, Va, and formerly marketed the Cajun Dome in lafayette, La, and Nassau Coliseum in Long Island, N.Y., was intrigued when offered the...

Largest conventions held in Baltimore in 2000 [1].
February 23, 2001... Largest conventions held in Baltimore in 2000 [1] (Ranked by estimated economic impact) [2] Name Event Estimated Rank Phone/Internet ...

Expect a high return from your special event.
February 23, 2001... How can you best communicate your corporate identity and unique qualifies to a targeted group of potential and existing clients? The first thing you have to do is get their attention (permission marketing). Once you have their attention,...

Gearing up for the Preakness.
February 23, 2001... Event planning for the 2001 Preakness Celebration is just beginning, but the real preparations for the week-long list of May events started a year ago. Lining up a budget and finding companies to sponsor the various events leading up to...

Largest shopping malls in the Baltimore area.
February 23, 2001... Largest shopping malls in the Baltimore area (Ranked by gross leasable area) Rank/ Name ...

People.
February 23, 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...

Taking Stock.
February 23, 2001... The BBJ Index [*] of 87 stocks closed at 1140.88 on Feb. 21, 2001. Weekly Gainers & Losers Price Corporation 2/21/01 % Change 1....

Igene Biotechnology Inc.
February 23, 2001... Corporate profile After years of focusing on research, Igene Biotechnology Inc., which develops products for the aquacultural industry, is moving forward with manufacturing and marketing of its core product, AstaXin, a dietary supplement...

NFIB wants access to be included in HMO reform.
February 23, 2001... The National Federation of Independent Business, normally, a dependable ally of Republicans, criticized President Bush's position on managed care reform legislation. "While we are relieved that the administration's health care principles...

Bush plan does 'zilch' for small businesses.
February 23, 2001... NFIB and other small business organizations are standing behind President Bush on his $1.6 trillion tax cut even though it does not include everything they want. But the ranking Democrat on the House Small Business Committee said Bush's...

Resolution seeks stamp for woman franchiser.
February 23, 2001... The nation's major women's business organizations want the U.S. Postal Service (www.usps.com) to issue a stamp honoring the woman who created modern business franchising. Rep. Louise Slaughter, D-N.Y., introduced a resolution asking for a...

Drilling into a new market.
February 23, 2001... Entrepreneur builds business on creating tiny, precise holes Joe D'Entremont is making big business out of little holes. The entrepreneur founded Lenox Laser in Glen Arm two decades ago, but things have really taken off in the past...

Shop Talk: How do you differentiate yourself from the competition?
February 23, 2001... John Chetelat President, Action Alarm Systems Corp./Baltimore "We believe Biblical principles are relevant for today's business relationships. We treat opportunities to serve our customers with the mindset of Matthew 7:12, 'Do unto...

Learn to utilize people.
February 23, 2001... Learn how to utilize people, the environment and performance tactics to gain strategic business advantages that improve operations, reduce costs and improve service levels. People are an organization's most important and valuable...

Good start for urban renewal.
February 23, 2001... The Howard-Eutaw corridor on downtown Baltimore's west side is a kind of museum of failed urban renewal ideas. Sometime in the late 1960s, planners decided to create a pedestrian mall on Lexington Street, closing it to traffic. Of course,...

Wasting time on e-mail.
February 23, 2001... E-mail -- a modern convenience that was supposed to save us countless minutes in our daily work lives. But something happened along the way to efficiency. A new survey shows that executives are spending even longer hours at the office...

With cleavage, WWF style, XFL missing an audience.
February 23, 2001... The XFL is too old-fashioned for its own good. A crazy notion? Stick with me here. The XFL, the professional football league inspired by the World Wrestling Federation, has been assailed by the media for breaking completely through...

Maryland considers private BWI.
February 23, 2001... Maryland officials are considering a plan to privatize Baltimore/Washington International Airport or create an independent authority to manage BWI, one of the nation's few state-run airports. The fast-growing airport is currently...

Susquehanna Bank.
February 23, 2001... Susquehanna Bank has been using a Volkswagen Bug to advertise its Internet banking service. Bank employees use the car, which is painted with the banks blue and green logo, telephone number and Web address, on business calls and festivals....

Power surge.(Constellation Power Source prepares for expected $200 billion wholesale power market)(Brief Article)
February 16, 2001... Constellation taps into $200 billion market As the country navigates the bumpy road of energy deregulation, a Baltimore company that buys and sells power is fast becoming a major industry player. With more than a dozen states,...

Angelos hotel revived.(Peter G. Angelos)(Brief Article)
February 16, 2001... McCormick site plan shelves city proposal Ending months of silence and speculation, Orioles owner Peter G. Angelos has told city officials he will build a convention headquarters hotel on the former home of spice giant McCormick & Co....

Harford Co. businesses fighting tax.(Hartford County, Maryland, leisure tax)(Brief Article)
February 16, 2001... Still fighting Harford County's 5 percent amusement tax, a group of legislators and business owners wants to force the county to cap the controversial levy at 1 percent. But the group faces tough resistance from County Executive James M....

Black & Decker shuts down plant.(House Products Limited Mexico lays off all workers)(Brief Article)
February 16, 2001... A subsidiary of Towson-based Black & Decker Co. has stopped production at a plant in Queretaro, Mexico, and laid off all 2,400 of the plant's workers with 70 percent pay. A spokesman for House Products Limited Mexico, which makes irons,...

Ciena beats Wall Street estimates.(Ciena Corpo. posts financial results for quarter ended January 31, 2001)(Brief Article)
February 16, 2001... Linthicum-based Ciena Corp., a developer of fiber-optics technology, reported net income of $53.25 million, or 19 cents a share, for the first quarter ended Jan. 31, compared to a net income of $9.06 million, or 3 cents a share, for the same...

Md. Chamber decries proposal.(Maryland Chamber of Commerce dislikes plan to use Maryland's "rainy day" fund)(Brief Article)
February 16, 2001... The Maryland Chamber of Commerce says it has serious concerns about Gov. Parris N. Glendening's proposed $21.4 billion budget for fiscal year 2002. The Chamber says the budget exceeds spending affordability limits set by the General Assembly...

USinternetworking reports 4Q loss.(USinternetworking Inc. posts fourth quarter financial results)(Brief Article)
February 16, 2001... Annapolis-based USinternetworking Inc., an applications service provider, reported losses for the fourth quarter on growing revenue. The company reported a net loss of $45.6 million, or 44 cents a share, for the fourth quarter ended Dec. 31.,...

Md. Practice Care absorbs enrollees.(Maryland Practice Care will take Medicaid enrollees from CareFirst BlueCross BlueSheild)(Brief Article)
February 16, 2001... Maryland Practice Care will absorb about 40,000 state Medicaid enrollees in the city and Baltimore County effective April 1, according to the Department of Health and Mental Hygiene. The Medicaid enrollees were members of CareFirst BlueCross...

Towson's Leberknight to retire.(Towson University, Alan M Leberknight)(Brief Article)
February 16, 2001... Alan M. Leberknight, dean of the College of Business and Economics at Towson University, is retiring Aug. 31, according to university officials. Leberknight, 59, who notified the university of his decision Feb. 12, joined the university in...

Seat maker takes a hit.(Premier Seating Co. tries to improve business)(Brief Article)
February 16, 2001... Tough times for the movie theater industry have spelled problems for Premier Seating Co., a theater seat restoration and manufacturing company in East Baltimore. Premier (www.premierseating.com) was forced to lay off a quarter of its 100...

Baldwin to get $1.5 million.(H. Furlong Baldwin)(Brief Article)
February 16, 2001... Don't feel sorry for outgoing Mercantile Bankshares Corp. (www.mercantile.net) CEO H. Furlong Baldwin. Even though Baldwin, 69, is stepping down because he is nearing the bank's mandatory retirement age, it's not as if he's being thrown out...

Changing mutual fund law.(Maryland General Assembly)(Brief Article)
February 16, 2001... The Maryland General Assembly is once again trying to do right by mutual fund companies. Del. Kumar P. Barve, DMontgomery County, and Sen. Philip Jimeno, D-Anne Arundel County, are sponsoring bills that would indemnify mutual fund...

Gainers & Losers.
February 16, 2001... To heck with Punxsutawney Phil. We know winter's coming to an end when the O's head to Florida for spring training. [up] Pedestrians They finally get some help crossing the sweet as the city targets light-runners in an effort to ease...

State considers sales tax hike to aid transit.(House Bill 994)(Brief Article)
February 16, 2001... Legislators are considering a penny increase in the state sales tax to help fix Maryland's ailing transportation trust fund. The bill -- House Bill 994 -- is the second piece of legislation introduced during this General Assembly session...

Nurse anesthetists save millions, group says.(Atkinson Consulting Co. report states hospitals can save money by using nurses instead of doctors)(Brief Article)(Statistical Data Included)
February 16, 2001... Maryland hospitals can save millions of dollars just by tweaking their policy for administering anesthesia. At least that's the message a group of health care consultants is giving state legislators. Graham Atkinson, a former employee of...

Targeting minority market.(Aetna U.S. Healthcare Inc. marketing strategy)(Brief Article)
February 16, 2001... Aetna U.S. Healthcare (www.aetna.com) is banking on projected growth among African-American, Latino and Asian-American populations to bolster its business. As a result, the health plan has launched a domestic emerging markets program...

Coalition calls for changes.(Coalition for Affordable Quality Healthcare releases progress report)(Brief Article)
February 16, 2001... The fledgling Coalition for Affordable Quality Healthcare (www.caqh.org) released its first progress report last week, outlining its suggestions for improving a variety of services for providers and patients. At the top of the...

Noble nabs three deals.(Noble Steed Associates Inc. adds three health care accounts)(Brief Article)
February 16, 2001... Noble Steed Associates Inc., a Hunt Valley-based advertising and marketing agency; recently added three health care accounts to its portfolio. Among Noble Steed's new clients are: Capital Blue Cross of Central Pennsylvania Christiana Care...

Investment firm takes on new identity, plan.(Cahill, Warnock and Co. L.L.C. change name to Camden Partners Inc.)(Brief Article)
February 16, 2001... With the departure of one of its founders and the addition of several new partners over the past three years, the Baltimore-based private equity firm of Cahill, Wamock & Co. LLC has opted for a new name and structure. The firm, which is...

Earnings drop at BCSB.(BCSB Bancorp Inc., Baltimore County Savings Bank)(Brief Article)
February 16, 2001... It seems that short-term interest rates and an expansion program has pinched earnings at BCSB Bankcorp Inc., the holding company for Baltimore County Savings Bank (www.baltcosavings.com). Last week the bank announced fourth quarter 2000...