Baltimore Business Journal articles from November 1991

Baltimore Business Journal archives from November 1991

Baltimore chemical plants cut pollution 40%.
November 29, 1991... Tighter state, federal regulations lead to sharp drop in area water, land and air pollution South Baltimore's major chemical manufacturers cut pollution from their plants by 40 percent last year, and expect further reductions through 1992....

Off-and-on Crescent City is on again. (Cresent City Maryland real estate development project)
November 29, 1991... Developer strikes deal for construction money The $37 million City Crescent project received a shot in the arm last week when its development team, after several failed attempts, struck a deal on construction financing for the 11-story office...

Farm livin' is the life for them. (the Baugher family)
November 29, 1991... After nearly a century farming their land in Carroll County, the Baugher family still cultivates business on tenacity, paternalistic foresight and sweat. Not to mention two steers a week. All told, the three joint ventures that make up the...

Carroll County hospital plans $5M expansion. (Carroll County General Hospital) (Brief Article)
November 29, 1991... WESTMINSTER -- A $5.1 million expansion is in store for Carroll County General Hospital, the Carroll County Times reported. Hospital board members told Carroll County Commissioners on Monday that they expect to fund the construction through a...

Total Health Care free of oversight. (rehabilitation plan comleted by health maintenance organization) (Brief Article)
November 29, 1991... BALTIMORE -- A 2-year-old state order governing the health maintenance organization Total Health Care by insurance regulators has been dropped because the HMO has reached goals outlined in its three-year rehabilitation plan. The...

State pension fund gives to venture capital. (Maryland Venture Capital Trust) (Brief Article)
November 29, 1991... BALTIMORE -- The state's pension fund has decided to put its monetary support behind to the year-old Maryland Venture Capital Trust. A $15 million investment by the Maryland State Retirement and Pension Systems gives the fledgling fund...

Tax court rules against Noble Steed. (Noble Steed Associates) (Brief Article)
November 29, 1991... BALTIMORE -- Advertising firm Noble Steed Associates is fighting a ruling by the Maryland Tax Court that it must pay sales tax on purchases made while working for non-profit clients like the Johns Hopkins Health System. The court ruled Noble...

Downtown Partnership cleans up streets, fills up vacancies. (Downtown Partnership of Baltimore)
November 29, 1991... When the Downtown Partnership of Baltimore was formed in early 1990, the quasi-public agency was thought of as a clean-up crew, neatening and beautifying downtown Baltimore, while its sister agency, Center City-Inner Harbor Development,...

Blackistone back at Marine Trades to direct lobby effort. (Mick Blackistone)
November 29, 1991... Following a five-month layoff forced by financial problems, executive director Mick Blackistone is back at work at the Marine Trades Association of Maryland. The Annapolis-based state boating trades association has hired Blackistone under a...

County, neighbors at odds over soil treatment plant. (Baltimore County)
November 29, 1991... A Baltimore construction company wants to build a $5 million plant to treat oil- and gasoline-soaked soil, then use it to build roads. Baltimore County development officials welcome the plan by Bryn Awel Corp., saying the plant will recycle...

A merry Christmas? (surveys show retailers look foreward to a good retail season this Christmas)
November 29, 1991... Two firms have conducted separate but related holiday retail surveys that indicate retailers are looking forward to a jollier Christmas than last year. Deloitte & Touche's Retail and Distribution Services Group in Baltimore surveyed...

Ad pros form own consortium. (Gerry Hanlon, Glen Gemmell, Judy Green, Anne Schulte, Diane Stahl, Marina Windsor, Tim Windsor form Hanlon & Partners, an advertising agency)
November 29, 1991... Advertisers are spending less, advertising agencies are merging and laying off excess employees, and relief appears to be nowhere in sight. But some advertising professionals, trying to make it after layoffs or as free-lancers, are finding...

State to focus its economic resources on high-tech sector. (Maryland)
November 29, 1991... State economic development officials are working on a plan to encourage federal spending in the state and to develop two high-tech sectors of the economy -- life sciences and information technologies. Mark Wasserman, secretary of the...

Issue of a patient's right to die takes on administrative responsibility. (medical providers begin complying with federal laws)
November 29, 1991... On Sunday, the issue of a patient's right to die moves out of the sensational headlines and into administrative reality as medical providers begin complying with new federal laws. As of Dec. 1, hospitals, nursing homes, health maintenance...

Barton-Gillet Co. (People) (Brief Article)
November 29, 1991... Barton-Gillet Co. has named Harry E. Pollock III, president and chief executive officer. He was executive vice president-corporate communications and financial printing services. Pollock has been an owner and member of the board since 1988....

Professional Consulting Services Inc. (People) (Brief Article)
November 29, 1991... Professional Consulting Services Inc. has named Mike Phennicle president, and Steve Montgomery and Edward Ritz have been added as resident engineers.

Igene Biotechnology Inc. (Proxy Report Excerpts) (Company Profile)
November 29, 1991... FYI Igene Biotechnology Inc. is engaged in the business of industrial microbiology and related biotechnologies. It develops, produces, and markets value-added specialty biochemical products derived from agricultural residues and wastes...

Credit Management Solutions Inc. (Brief Article)
November 29, 1991... Credit Management Solutions Inc., a national consulting/liquidation firm based in St. Louis, has opened an affiliate firm located at 3603 Glen Ave., called Cash Flow Solutions to be represented by Stanley J. Drebin.

Nathan G. Chernoff. (Brief Article)
November 29, 1991... Nathan G. Chernoff and Janet E. Barbiere have formed Chernoff and Associates, a certified public accounting firm located at 300 E. Lombard St., Suite 1440, 21202.

Merry-Go-Round Enterprises Inc. (Brief Article)
November 29, 1991... Merry-Go-Round Enterprises Inc. announced its regular quarterly cash dividend of 1.33 cents. The dividend is payable Nov. 29 to shareholders of record as of Nov. 15.

The Brickman Group Ltd. (Brief Article)
November 29, 1991... The Brickman Group Ltd., a national landscape services firm, established three new offices in the metropolitan area; Columbia, Silver Spring, and Herndon, Va. The mid-Atlantic region headquarters will remain in Laurel.

McCormick & Co. Inc. (Brief Article)
November 29, 1991... McCormick & Co. Inc. has sold its Golden West Foods poultry business, including the plant in Bossier City, La., to Continental Grain Co. The sale price was not disclosed.

Adams Express Co. (Brief Article)
November 29, 1991... The Adams Express Co. will pay on Dec. 27 to stockholders of record Nov. 25, 21 cents per share of undistributed net investment income and $1.06 per share of undistributed net capital gains.

Petroleum & Resources Corp. (Brief Article)
November 29, 1991... Petroleum & Resources Corp. will pay a dividend of 39.375 cents a share on the $1.575 convertible preferred stock payable Dec. 1 to preferred stockholders of record Nov. 25. On Dec. 27 it will distribute 35 cents a share of undistributed net...

Gagnon Engineering. (Brief Article)
November 29, 1991... Gagnon Engineering, a consulting engineering firm, opened at 10110 Labelle Court, Ellicott City, 21042. The firm provides fire protection engineering services, as well as code consulting and fire protection system design.

All Points Relocation Service Inc. (Brief Article)
November 29, 1991... All Points Relocation Service Inc., a national real estate network, announced that the firm Manis & Wright Realty Inc. has joined it as a representative in Annapolis.

Paper recycler buys Columbia competitor. (2nd Chance-Chesapeake aquires Baltimore/Washington Recovery) (Brief Article)
November 29, 1991... An office paper recycler called 2nd Chance-Chesapeake acquired Baltimore/Washington Recovery, a Columbia recycler. Together, the two companies will recycle more than 100 tons of paper a month, said William Struever, a partner in 2nd...

Merry-Go-Round Enterprises Inc. (Earnings) (Brief Article)
November 29, 1991... Merry-Go-Round Enterprises Inc. announced sales for the four-week period ended Nov. 2 increased 30 percent to $56.4 million from $43.3 million in the corresponding period of Oct. 1990.

Rouse Co. of Columbia. (Earnings) (Brief Article)
November 29, 1991... Rouse Co. of Columbia released its interim report to shareholders for the third quarter of 1991. Earnings before depreciation and deferred taxes were $28.7 million for the nine months ended Sept. 30, down 8 percent from 1990's comparable...

Polk Audio. (Earnings) (Brief Article)
November 29, 1991... Polk Audio reported net sales for the three months ended Sept. 29 of $6.8 million compared to $7.6 million for the same period in 1990. Net earnings were $297,000 compared to $507,000 in 1990, and earnings per share were 16 cents in 1991...

BTR Realty. (Earnings) (Brief Article)
November 29, 1991... BTR Realty reported for the quarter ended Sept. 30 total earnings before depreciation, amortization and deferred taxes was a loss of $70,441 vs. a loss of $113,010 for the same quarter of 1990. Earnings before depreciation, amortization and...

Blue Cross and Blue Shield of Maryland. (Earnings) (Brief Article)
November 29, 1991... Blue Cross and Blue Shield of Maryland reported a gain of $8.86 million on revenue of $337 million for the third quarter of 1991. It also reported a combined third quarter gain of $3.01 million. For the first nine months of 1991, it posted a...

What are our CEOs worth? (United Shareholders Association examines compensation of chief executive officers in the country's largest publicly-held companies)
November 22, 1991... Shareholder group finds no rationale for CEO compensation Mathias J. DeVito at the Rouse Co. is making twice as much as he's worth, while George V. McGowan at Baltimore Gas and Electric Co. deserves a $910,000 raise. But don't expect...

Nation's city markets dying out. (Baltimore's six city-owned markets threatened by urban decay and changing consumer habits)
November 22, 1991... Schmoke may privatize Baltimore's to save them The indoor public market has become an endangered species. Threatened over the years by urban decay and changing consumer habits, the number of public markets nationwide has gone from several...

Insurers targeted for tax increase. (Maryland's health insurance industry; includes related article)
November 22, 1991... Proposals would raise $132 million next year Struggling to close Maryland's severe budget deficit, the General Assembly is looking to Maryland's insurance industry as a way to collect an additional $132 million next year. Raising the...

K mart will remake Epstein's into new image. (lease for space at the Joppatowne Plaza vacated by Epstein's Department Store) (Brief Article)
November 22, 1991... JOPPATOWNE -- K mart Corp. has signed a lease for the 107,000-square-foot space vacated by Baltimore-based Epstein's Department Store, which closed earlier this year in Joppatowne Plaza. Construction should begin on the new department store by...

Ford Credit leases ex-Rouse & Associates site. (Ford Motor Credit Co.) (Brief Article)
November 22, 1991... COLUMBIA -- The Ford Motor Credit Corp. is expected to pen a deal early next month for nearly 50,000 square feet formerly belonging to Rouse & Associates/Maryland. The space, located in the developer's Three Ponds Business Park, part of the...

State bans admissions at Lincoln Convalescent. (Lincoln Convalescent Center) (Brief Article)
November 22, 1991... BALTIMORE -- The state Health and Mental Hygiene Department has banned admissions in Baltimore's Lincoln Convalescent Center. The 224-bed facility, located on West Fayette Street, is prohibited from accepting new patients or readmitting...

Signet sells credit card unit to Atlanta firm. (Signet Banking Corp.; National Data Payment Systems Inc.) (Brief Article)
November 22, 1991... RICHMOND -- Signet Banking Corp. sold its merchant credit card processing business to National Data Payment Systems Inc., a subsidiary of Atlanta-based National Data Corp. "The merchant business has not been an area of major focus for...

Biotech firm cuts 40 in reorganization move. (Life Technologies Inc. to cut 40 positions) (Brief Article)
November 22, 1991... GAITHERSBURG -- Life Technologies Inc. will cut 40 positions at its two Maryland sites and at a facility in New York as part of a reorganization. The company said the reorganization is designed to cut back expenses to keep Life Technologies...

Appraisers enjoying the ride on real estate's roller coaster. (demand for appraisal services and advice increases due to downturn in the real estate business)
November 22, 1991... At a recent meeting of a local commercial real estate group, developer Robert Aumiller joked that it was good to see his old friend and appraiser George P. Frizzell still "consorting" with developers. Although the MacKenzie & Associates Inc....

Poffel & Walker files Ch. 11, holds $25.7 million in debt. (real estate development firm)
November 22, 1991... Another of the region's late 1980s land speculators and developers filed for bankruptcy protection last week, after racking up more than $25.7 million in debts. Poffel & Walker Inc., a Towson real estate development firm, filed for Chapter...

Hopkins considers closing its PPO. (Johns Hopkins Health System; Hopkins Preferred Network, preferred provider organization)
November 22, 1991... The Johns Hopkins Health System may dismantle its 6,000-member Hopkins Preferred Network. Maryland's sixth largest preferred provider organization, which serves Johns Hopkins Health System employees and Hopkins-related workers, could be...

Wave of non-performing loans appears to have crested.
November 22, 1991... For the last two years bankers have ridden a hellish wave of rising non-performing loans. Finally, that wave appears to be reaching its crest, but it's still not expected to dissipate anytime in the foreseeable future. Levels of...

Columbia duo hopes game hits right note. (Mary Pat and Stan Blaylock's boardgame called Humm...ble)
November 22, 1991... A young couple from Columbia has independently developed and marketed a boardgame called, "Humm . . . ble, the game of melodies and memories." Like a musical cross between charades and trivial pursuit, Humm . . . ble's object is for players...

New accounts. (Health Education Resource Organization's advertising and public relations contract with Hartt Group Inc.) (Brief Article)
November 22, 1991... For the second year in a row, Hartt and Co. has been retained by the Health Education Resource Organization to promote the annual Aidswalk 1992, Central Maryland. Hartt will handle publicity, advertising, events organization, collateral and...

Family Research seeks youthful niche in market research. (Family Research Group, marketing research firm specializing in children and families) (Company Profile)
November 22, 1991... Imagine a room full of 7-year-olds trying on adhesive bandages. Or a group of mothers and babies testing disposable bibs. Barbara Gassaway makes her living observing such behavior, an activity she calls "stimulating." Owner of the Family...

Newcomers force state agency to enforce bass fishing guide laws. (Steve Carle and Mike Starrett; Maryland Department of Natural Resources)
November 22, 1991... When Steve Carle decided to become a bass fishing guide two years ago he did it the right way, and because of that he sparked controversy in Maryland's fishing guide industry. As Carle and partner Mike Starrett set up their business they...

Merry-Go-Round sees earnings fall. (Mery-Go-Round Enterprises Inc., high fashion clothing store chain)
November 22, 1991... The recession has finally caught up with Merry-Go-Round Enterprises Inc. After two years of defying the gravity that is pulling down most national retailers, Merry-Go-Round saw earnings fall 18 percent in the third quarter on relatively flat...

Developers discovering joys of day-care centers. (office and business parks lease space to day care centers)
November 22, 1991... Business parks welcome children When Ray Chapman and his wife, Gayle, began shopping around for commercial space in Columbia, they realized many landlords saw their start-up day-care center as more than just a 3,750-square-foot lease. What...

Medmart developers waste no time seeking tenants for ambitious center. (International Life Science Center, a multi-million dollar medical trade market)
November 22, 1991... By now most people know Baltimore developer Richard Swirnow won the rights to develop a multi-million dollar medical trade market -- officially the International Life Science Center -- on six acres east of the former B&O warehouse at Camden...

Bankers don't enjoy owning real estate in down market. (Baltimore area banking and real estate industries)
November 22, 1991... Every week, it seems, yet another Baltimore-area bank forecloses on a shopping center or reluctantly buys back an office building on the auction block after the developers missed too many payments on their loans. While industry observers say...

Pioneer UAV Inc. (People) (Brief Article)
November 22, 1991... Pioneer UAV Inc., the joint venture company formed by AAI Corp., and Israel Aircraft Industries Ltd., has appointed James A. McCune president. He was general manager of Bell Incosym Textron in California.

Coopers & Lybrand. (People) (Brief Article)
November 22, 1991... Coopers & Lybrand has appointed three new partners. James Caulfield has been with the firm for more than 10 years and specializes in key client areas of emerging business services and venture capital. Michael Dollard, of Coopers' general...

Essex Corp. (Proxy Report Excerpts) (Company Profile)
November 22, 1991... FYI The Columbia-based firm provides diversified and specialized professional and technical services, products, components and systems. Its products include training systems and optical signal processing. Revenue for the company dropped 15...

Value Food. (Mergers & Acquisitions) (Brief Article)
November 22, 1991... Value Food has purchased three Santoni's Supermarkets. The three stores are located in Elkton, Bel Air and Perry Hall. The Elkton store changed hands on Nov. 10 and the other two will be changed shortly after the first of the year. Value Food...

Heath Design Group Inc. (People on the Move) (Brief Article)
November 22, 1991... Emily Heath, former vice president and managing design director of Michael Asner Associates, has started her own firm, Heath Design Group Inc. Heath's 16 years of corporate space planning and interior design have included work with clients like...

Kahn, Berman & Solomon, P.A. (Mergers & Acquisitions) (Brief Article)
November 22, 1991... Kahn, Berman & Solomon, P.A. and Basil Taibel, formerly of Wolpoff & Co., announce the merger of their accounting practices. The new firm will practice under the name of Kahn, Berman, Solomon & Taibel, P.A.

MNC off 'watch list': state's largest bank shows signs of recovery. (Maryland National Bank; federal regulation watch list )
November 15, 1991... Maryland National Bank has been taken off a federal regulatory "watch list," the first outward sign that the state's largest bank may be recovering from crippling loan losses, sources said. Federal regulators, in the midst of an annual review...

Who pays the price of success? State to decide. (Public Service Commission of Maryland to decide whether Chesapeake and Potomac Telephone Co. can charge customers for its expansion plans)
November 15, 1991... C&P says public should pay for its $6B upgrade The phone company says it wants to spend $6 billion to $8 billion to provide Maryland with the most sophisticated service possible. Why? To benefit business and improve the quality of residents'...

Old meets new at city markets in culture clash. (new breed of merchants at the Broadway Market)(Baltimore City Markets, part 2) (Industry Overview)
November 15, 1991... There is a new breed of merchants at the Broadway Market. Deborah Tempera opened the Fells Point Coffee and Cheese Co. seven years ago. Pam Tate started The Bakery at Broadway Market with partner Heather Bathon four years ago. Both have...

Trammell Crow backs out of skyscraper effort. (real estate management of One Light Street office tower)
November 15, 1991... BALTIMORE -- After months of speculation, Trammell Crow Co.'s local partner in charge said he would be leaving the Dallas-based development company at the end of the month. Dirk Mosis, who opened Trammell's local office in 1983 and went on...

City must return Price Club's deposit. (Towson, Maryland; down payment of Price Co. for training facility it planned to buy)
November 15, 1991... TOWSON -- A Baltimore County Circuit Court judge this week ruled the city must return a $712,500 down payment made by the San Diego, Calif.-based Price Co., for the former 38-acre Baltimore Colts training facility in Owing Mills. Price Co....

Hecht's moniker to mark Richmond stores. (May Department Store Co. to consolidate Thalhimer store divisions under the name of Hecht Co.)
November 15, 1991... WASHINGTON, D.C. -- The May Department Store Co. will consolidate its Hecht Co. and Thalhimer store divisions effective Feb. 1. The move will help centralize the marketing and administrative operations of the stores, helping to cut costs,...

City aims to put out Medical Waste's fires. (Baltimore City, Maryland; Medical Waste Associates)
November 15, 1991... BALTIMORE -- The city wants Medical Waste Associates to stop burning all wastes in its new incinerator located at Hawkins Point until the $26 million plant gets a city occupancy permit. The most recent suit filed in Baltimore City Circuit...

K and S leave KMS Group as real estate firm declines. (Peter M. Kirk and Wilbur E. Simmons, Jr.) (Company Profile)
November 15, 1991... The two highest ranking executives of a Baltimore Gas and Electric Co. real estate subsidiary resigned their positions late last month, in part because of pressure from utility officials over poor property performances. Wilbur E. "Pete"...

Shareholders blast Robinson, Alex. Brown. (stockholders of Baltimore Bancorp; Harry L. Robinson)
November 15, 1991... After yanking control of Baltimore Bancorp away from its former board, shareholders are now chasing the old directors for millions of dollars lost when the company rejected a buyout offer last year. In a federal lawsuit unsealed this week,...

Hospital cost increases hit 3-year low, protect waiver. (Medicare waiver)
November 15, 1991... After a year of belt-tightening to protect the state's critical Medicare waiver, Maryland's hospitals have managed to keep their yearly cost increases to a three-year low, according to data released last week by the state's hospital rate...

Manekin starts work on big P.G. Co. mixed-use project. (Prince George's County)
November 15, 1991... The Manekin Corp. began construction last week on the first of three speculative buildings in Konterra, a 2,200-acre mixed-use community in Prince George's County. Owned by Gould Property Co., one of Washington, D.C.'s, largest and oldest...

Tight credit market takes the head off local beer industry. (expansions limited due to bank credit constraints) (Industry Overview)
November 15, 1991... There is an alternative to the standard beers national companies are always trying to sell with sex, sports, sex, good times, sex, memories and, of course, sex. It's what the local brewpubs and microbreweries would rather sell -- taste....

Louisiana insurer curbed by regulators. (Physician's National Risk Retention Group to stop its practice in Maryland)
November 15, 1991... Louisiana-based insurer Physician's National Risk Retention Group has reached an agreement with state insurance regulators to stop writing or renewing any insurance policies in Maryland. Physician's National, which is operating under a...

James C. Feeney. (selections) (Brief Article)
November 15, 1991... James C. Feeney has become a partner in the firm of Lipman Frizzell & Mitchell.

Richard J. Shearer. (selections) (Brief Article)
November 15, 1991... Richard J. Shearer has become president of EA Remediation Technologies Inc., the remediation subsidiary of EA Engineering, Science, and Technology Inc. He will be responsible for business management, including business development, sales and...

Charles L. Dunlap. (selections) (Brief Article)
November 15, 1991... Charles L. Dunlap has been selected president and chief operating officer of Crown Central Petroleum Corp. He was also elected a director and member of the executive committee. He was formerly a director and executive vice president of Pacific...

James S. Schaefer. (promotions) (Brief Article)
November 15, 1991... James S. Schaefer has been appointed vice president-finance and administration and chief financial officer of F&E Resource Systems Technology.

Choices Entertainment Corp. (Proxy Report Excerpts) (Company Profile)
November 15, 1991... FYI Choices Entertainment Corp. began 1990 with a new name and ambitious plans to become a large chain of video and music superstores. Previously, the firm, known as Datavend, had tried its hand at video vending machines, but that concept...

Baltimore workers pay over average for health insurance. (Baltimore-area workers are paying more than the national average on group major medical insurance coverage)
November 15, 1991... Baltimore-area workers pay an average of $380 per month for the most common type of group major medical insurance coverage, almost $15 more than the national average, according to a Milliman & Robertson Inc. study. In its 400-city study, the...

Universal Security Instruments Inc. (Earnings and Dividends) (Brief Article)
November 15, 1991... Universal Security Instruments Inc. reported a net income of $119,107, 4 cents per share, on total sales of $6.4 million for the second quarter ended Sept. 30. Universal reported a net income of $1.2 million, 36 cents per share, on total sales...

Allied Research Corp. (Earnings and Dividends) (Brief Article)
November 15, 1991... Allied Research Corp. reported net earnings of $3.6 million, 83 cents per share, on total revenue of $39.5 million for the three months ended Sept. 30. Allied reported net loss of $2.3 million, 56 cents per share, on total revenue of $7.1...

UNC Inc. (Earnings and Dividends) (Brief Article)
November 15, 1991... UNC Inc. reported net earnings of $1.9 million, 11 cents per share, on total sales of $91.6 million for the three months ended Sept. 30. UNC reported net earnings of $1.5 million, 9 cents per share, on total revenue of $92.4 million for the...

Crown Central Petroleum Corp. (Earnings and Dividends) (Brief Article)
November 15, 1991... Crown Central Petroleum Corp. reported net income of $1.6 million, 16 cents per share, on total sales of $436.6 million for the third quarter. In the same period last year, Crown reported a net income of $2.4 million, 24 cents per share, of...

Avemco Corp. (Earnings and Dividends) (Brief Article)
November 15, 1991... Avemco Corp. will pay a regular quarterly dividend of 10 cents per share on Jan. 22 to shareholders of record on Dec. 27.

Signet Banking Corp. (Earnings and Dividends) (Brief Article)
November 15, 1991... Signet Banking Corp. will pay a quarterly dividend of 20 cents per share on Nov. 27 to stockholders of record of Nov. 12.

Tongue, Brooks & Co. Inc. (Mergers & Acquisitions) (Brief Article)
November 15, 1991... Tongue, Brooks & Co. Inc., a diversified employee benefits and insurance brokerage firm, acquired H. Francis LeBrun Co. Inc., a company with a broad base of commercial and personal insurance accounts. Under Tongue Brooks' ownership, the firm...