Baltimore Business Journal articles from November 2001

Baltimore Business Journal archives from November 2001

Hard times.
November 2, 2001... Local stocks falling below book value Dogged by a ragged economy and a depressed equities market, a-dozen public companies in Baltimore are trading below their so-called "book value," making them attractive to investors and possible...

Arundel hit by BWI Airport job cutbacks.(Brief Article)
November 2, 2001... For the past decade, Anne Arundel County reaped maximum benefit from the nation's boom in technology, new retail and hotel developments, and especially the explosive growth of Baltimore/Washington International Airport. Unfortunately, as...

Parking tax back on table.(Brief Article)
November 2, 2001... More than four months after shelving a parking tax increase, the Baltimore City Council is quietly preparing to take up anew proposal that many business leaders believe would still result in a rate hike. Corporate leaders are concerned that...

Clarification.(Brief Article)
November 2, 2001... In the story "Jackson lands on the Block," [Vol. 19, No. 22], it should not be inferred that the El Dorado club is moving to a new location Rosalie Jackson, owner of the El Dorado liquor license, is seeking to transfer the license to a new...

Convention in peril.(Brief Article)
November 2, 2001... Baltimore may lose its sixth convention since Sept. 11, one worth more money to the city than all five of the others combined. The Church of God In Christ Inc. has been in talks with convention officials in Indianapolis about yanking its...

A smoky proposal.(Department of Health and Mental Hygiene)(Brief Article)
November 2, 2001... Representatives from 56 advertising and public relations firms showed up at a pre-bid conference for the Maryland Department of Health and Mental Hygiene's $4 million annual anti-smoking advertising and media campaign. But only 16 of them...

Rename that tower.(Brief Article)
November 2, 2001... It's not often that a building is renamed. But many World Trade Centers across the country have considered dropping their names in the wake of the September terrorist attacks. A new title, many thought, would make the centers less of a...

Gainers & Losers.(Brief Article)
November 2, 2001... Travelers might want to check the expiration date on those honey-roasted peanuts on their next flight. The airlines won't be able to afford much anymore. * T-shirt vendors We've already seen what a Super Bowl win, Cal Ripken and Osama bin...

Harford nixes plans to convert APG airfield.(Brief Article)
November 2, 2001... The events of one day have stymied two decades worth of planning. Harford County economic development leaders announced last week that they have shelved a plan to convert Aberdeen Proving Ground's Phillips Airfield into a joint-use airport...

Printer moves, expands into city business park.(PrintManage)(Brief Article)
November 2, 2001... A Baltimore County printing company has relocated to the Fort. Holabird Business Park in Baltimore City and more than quadrupled its space. PrintManage, formerly Forms & Printing Solutions Inc., moved to a new 22,500-square-foot facility...

Experts: Constellation ripe for M&A activity.(Brief Article)
November 2, 2001... Constellation Energy Group has two choices -- buy or sell. The company, which nixed its plans to spilt into two companies last week, is now in the middle of an industry ripe with consolidation. And industry analysts believe Constellation...

Legg Mason tops T. Rowe in managed assets.(Brief Article)
November 2, 2001... Baltimore investment firms T. Rowe Price Group Inc. and Legg Mason Inc. are hurting these days because of the weal stock market; but Legg Mason took a significant step in its business plan during the third quarter when it surpassed T. Rowe...

Boost hat liquidity.(Patapsco Bancorp Inc.)(Brief Article)
November 2, 2001... Patapsco Bancorp Inc. decided to issue a 10 percent stock dividend to common shareholders this quarter in addition to a 14 cent cash dividend. A 10 percent stock dividend will give common stockholders one share of common stock for every 10...

Bank donates houses.(First Mariner Mortgage Corp.)(Brief Article)
November 2, 2001... Banks can seem sinister when they foreclose on someone's house and sell it for profit, but First Mariner Bank (www.firstmarinerbank.com) has done some go with some recent for enclosures. The Baltimore-based bank run by shipping and...

CareFirst quiet as merger noise gets louder.(Brief Article)
November 2, 2001... While the consolidation of the Blues market continues, CareFirst BlueCross BlueShield, the state's largest health insurer, sits quietly. Within the last two weeks, one Blues group acquired another while two other Blues announced for-profit...

Addressing the shortage.(Brief Article)
November 2, 2001... A Florida-based staffing company has entered the Baltimore market to help area health care providers combat personnel shortages. Medical Staffing Network Inc. of Boca Raton, Fla., has opened an office in Pikesville and can staff providers...

BMS, Dulaney join forces.(Baltimore Medical System)(Brief Article)
November 2, 2001... Baltimore Medical System plans to open a primary health care center at Dulaney Station's Timonium location to, give the center's mental health patients access to primary health care. The collaboration could be the first of many between...

LifeBridge Health.(Barry F. Rosen)(Brief Article)
November 2, 2001... Barry F. Rosen, chairman and CEO of Baltimore's Gordon, Feinblatt, Rothman, Hoffberger and Hollander law firm, has been appointed chairman of the board for LifeBridge Health (www.lifebridgehealth.com).

REIT CEO brings company HQ to Timonium.(Omega Healthcare Investors Inc.)(Brief Article)
November 2, 2001... Omega Healthcare Investors Inc., a real estate investment trust that provides financing for the health care industry, has moved its headquarters from Ann Arbor, Mich., to Baltimore County. The REIT has leased about 8,300 square feet of...

Business on the Hill.(Brief Article)
November 2, 2001... Federal Hill, a targeted community of the city's Main Street revitalization program, is bustling with business activity. A handful of the neighborhood's existing stores and restaurants are planning expansions, while many new entities are...

Ivy Bookshop.(Brief Article)
November 2, 2001... The Ivy Bookshop, is expected to open next month at the Lake Falls Village Shopping Center off Falls Road in Baltimore County. The shop will, be owned by Darielle Linehan, who operated a similar business in Naples, Fla.

Greater Baltimore Board of Realtors.(Brief Article)
November 2, 2001... The Greater Baltimore: Board of Realtors recently installed its new officers. Leading the organization is Alan R. Ingraham of First Horizon Home Loans, who was elected as the board's president last month.

Loyola's site gets local help.(Systems Alliance Inc.)(Brief Article)
November 2, 2001... Another local tech firm has been hired by Loyala College in Maryland to keep it in front of the technological curve. Hunt Valley-based Systems Alliance Inc. (www.systemsalliance.com) is installing its Web-based system, known as Site...

Ciena Corp.(Brief Article)
November 2, 2001... Ciena Corp., the Linthicum-based developer of fiber-optics technology, sold an estimated $10 million to $20 million worth of equipment to Cable & Wireless for its global telecommunications network.

Syscom.(Brief Article)
November 2, 2001... Baltimore-based Syscom sold its online procurement software to three state governments. The Texas General Services Commission, the Maine Division of Purchases and the Idaho Division of Purchasing paid undisclosed amounts for the software.

USi investor gets high marks.(Bain Capital Inc.)(Brief Article)
November 2, 2001... Analysts: Bain brings success record to Annapolis company The $100 million investment in Usinternetworking Inc. is not the first time Bain Capital Partners has poured money into a struggling firm, and it's not the first time the venture...

Stock Snapshot: TeleCommunication Systems Inc.(Brief Article)
November 2, 2001... NASDAQ:TSYS TeleCommunication Systems Inc., the Annapolis-based developer of wireless telecommunication technology, has taken a beating in the past year. The company's stock hit its 52-week high of $21.31 a share on Nov. 3, 2000, and...

BBJ Tech 25: A glance at Greater Baltimore's leading public technology companies.(Illustration)
November 2, 2001... BBJ Tech 25: A glance at Greater Baltimore's leading public technology companies This Last Week's Week's Net Company Name ...

Baltimore venture capital.(New Enterprise Associates)(Brief Article)
November 2, 2001... Baltimore venture capital firm New Enterprise Associates invested $20 million in Essential Therabeutics Inc. to fund development of the drug company's research. Essential Therabeutics was formed this month from the merger of Mountain View,...

Atto BioScience.(Brief Article)
November 2, 2001... Atto BioScience finished its first round of equity financing, netting $3 million in a round led by Emerging Technology Partners. The Rockville-based biotech also announced that three former Invitrogen/Life Technologies executives have joined...

Retailing in a new world.(Baltimore-Washington International Airport)(Brief Article)
November 2, 2001... Security, not shopping, now dominates BWI Airport plans For frequent fliers spoiled by huge retail centers in other airports, BWI's slate of retailers seems slim. And in light of recent events, it will stay that way. "Before (Sept....

Even in these trying times, it's OK to laugh.(Brief Article)
November 2, 2001... Will we ever laugh again? Without seeming callous to the victims of the attack on Sept. 11 and as war is now a reality, comedy can be a very human way to cope. It is also illuminating and reveals as many, if not more, truths and insights...

Best therapy.(comedy, "Lysistrata," and "Waiting for Godot")(Brief Article)
November 2, 2001... Historically it's in hard times that comedy is able to find its most fertile ground. Aristophones, the ancient Greek comedic and political playwright was a master of scathing satire. "Lysistrata," perhaps his best-known work, is the story of...

Freedom into laugh.(Brief Article)
November 2, 2001... Take a 1 ok at what has broken all Broadway records this year. 'The Producers "A play that pokes fun at Hitler. Hitler. Cot id there be a more horrific springboard on which to base a comedy? Surely dancing such a fine line is tricky. Maybe...

Future looks bright for fund-raising events.(Brief Article)
November 2, 2001... Nonprofit organizations use anniversary celebrations, building dedications and new programs to celebrate their mission and create a branding impression on the community. Hosting a special event gives them an opportunity to expand their circle...

The event.(Brief Article)
November 2, 2001... Multi-media interactive special events can, when properly executed, allow sponsors branding impressions that exceed the traditional forms of paid advertisement. Events provide sponsors with a chance to make new friends and create long-term...

Future branding.(Brief Article)
November 2, 2001... In the post Sept. 11 world is this branding still as powerful? Yes, it is. The Maryland Symphony celebrated their 20th anniversary with a Pops Concert Sept. 22. I am happy to say they played to a packed house of over 2000 people. The...

Largest hotels in the Baltimore area.(Brief Article)
November 2, 2001... Largest hotels in the Baltimore area (Ranked by number of guest rooms) Rank/ Name Suites/ Banquet/ last Address Guest meeting meeting year Phone / Fax /...

Developer plots BWI hotel deal.(Brief Article)
November 2, 2001... Another hotel and a sorely needed restaurant could soon go up near Baltimore/Washington International Airport. But first the York, Pa., developer must raise the money it needs to build the $9 million project. Hospitality Lodging...

Wooing winter travelers.(Brief Article)
November 2, 2001... The Baltimore Area Convention and Visitors Association plans to target corporations this winter, install information kiosks at attractions, publish an advertising supplement in newspapers around the Mid-Atlantic and have an interactive...

Taking Stock.(Brief Article)
November 2, 2001... Taking Stock The BBJ Index(*) of 83 stocks closed at 1087.19 on Oct. 31, 2001. Weekly Gainers & Losers Price Corporation 10/31/01 % Change ...

NOVAVAX INC.(corporate profile)(Brief Article)
November 2, 2001... Novavax Inc. 8320 Guilford Road / Columbia, 21046 1(301) 854-3900 / www.novavax.com Corporate profile Despite widening net losses, the last 12 months could be termed as a success for Columbia-based Novavax, an emerging...

People.(personnel changes)(Brief Article)
November 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...

Mending fences at work.(Brief Article)
November 2, 2001... Butting heads with a co-worker can make a job pure drudgery. Being in close proximity day after day with someone you can never please, someone who always bucks the system, or someone whose personality simply clashes with yours is a challenge to...

Approach Olympics warily.(Baltimore is not part of bid for 2012 Olympic games)(Brief Article)(Column)
November 2, 2001... Despite what you may have read and heard, Baltimore is not part of a joint-bid to host the 2012 Olympic games. There is no "joint" about it, anymore. Baltimore is assisting its neighbor, Washington, D.C., in an effort to attract the games...

Playing role of citizen.(Brief Article)
November 2, 2001... Citizenship. We've been exploring this word much more closely now since Sept. 11. We're suddenly more aware how important is it for the individual -- and the corporation -- to play a strong role in keeping communities strong. Even in the...

U.S. rail travel remains an elusive, expensive dream.(train travel in Germany)(Brief Article)
November 2, 2001... This dream trip took place in Germany. It could have taken place anywhere in Europe, but it would be difficult to duplicate in the most economically advanced country in the world, the United States of America. After a transatlantic flight,...

From the Publisher.(Americans and their generosity)(Brief Article)(Editorial)
November 2, 2001... Dear Readers: This is the fifth year we have done a Corporate Citizenship Report, and it comes at an interesting time. As we have seen in recent weeks, when people see a great need and when their emotions are engaged, they can be...

Soft economy, attacks give fund-raisers pause.(Statistical Data Included)
November 2, 2001... Maria T. Johnson says that the Sept. 11 terrorist attacks changed the way the Junior League of Baltimore Inc. went about its holiday fund raising. Johnson, who is president of the charitable organization, says that following the attacks,...

Giant finds it tough to answer all calls for aid.(Giant Food Inc.)(Brief Article)
November 2, 2001... Once or twice daily, people get requests for some kind of aid: the homeless man that asks for a spare quarter, the charity that solicits a donation through the mail. But the queries an individual gets are nothing compared to the calls and...

Events boost firms' morale, public image.(Brief Article)
November 2, 2001... To Jerry Wollman, organizing a 500-guest gala event and sweating under the hot sun at a fund-raising golf tournament are well worth it. "Your employees get pretty fired up about things like that," said Wollman, the vice president for...

Firms vie to find right fit.(Brief Article)
November 2, 2001... Times may be tough, but charities and organizations are still in need of corporate donations. The trick, however, is to find the right place to put a company's time and money. "You don't ant to give money to just any group said Erin...

Most generous corporate givers in the Baltimore area.(Statistical Data Included)
November 2, 2001... Most generous corporate givers in the Baltimore area (Ranked by total 2000 giving as a percentage of company revenues [1]) Name 2000 revenues/ Rank Address value of...

Beware of fund-raising scams, experts say.(Brief Article)
November 2, 2001... Within hours of the tragic Sept 11 events, scam artists already were hard at work. Charlatans set up toll-free numbers to bilk good-hearted folks out of donations intended for victims of the tragedies. E-mail messages directed potential...

More to giving than just dollars.(corporate volunteering)(Brief Article)
November 2, 2001... While it's instinctive, perhaps, to measure philanthropy in terms of dollars, corporate giving has another dimension that is of critical importance to a community -- talent; brainpower and creativity. A business that backs up its financial...

Largest corporate philanthropists in the Baltimore area.(Statistical Data Included)
November 2, 2001... Largest corporate philanthropists in the Baltimore area (Ranked by 2000 Baltimore area cash donations) Rank/ Name Cash donations In-knd giving/ last Address in 2000 ...

Radio wars: Infinity, Radio One vie of urban listeners.
November 9, 2001... Bill Hooper thinks Lil' Mo is a safer bet than Britney Spears. Hooper is the general manager at Infinity Broadcasting Corp's new urban station X105.7. His job: To ensure that the company's September decision to scrap its Top 40 station in...

Harford throws cash at technology plan.(Harford County, Maryland)(Brief Article)
November 9, 2001... Harford County is now mapping out its technology future - thanks to thousands of dollars in private and public funds. The decision by Harford County officials to move forward on a $100,000 technology master plan comes at ii time when other...

O'Malley targets hazmats.(Baltimore Mayor Martin O'Malley)(Brief Article)
November 9, 2001... Baltimore Mayor Martin O'Malley is investigation ways to penalize chemical aid industrial companies that have balked at his request to tighten security around their hazardous materials. In the wake of, September's terrorist attacks on the...

Biotech to expand in Baltimore.(Chesapeake Biological Laboratories Inc.)(Brief Article)(Statistical Data Included)
November 9, 2001... Chesapeake Biological Laboratories Inc., a pharmaceutical and medical device manufacturer located in Southwest Baltimore, is planning a massive expansion that could double its work force and bring more bioscience business to Greater Baltimore....

NCO doubles earnings.(NCO Portfolio Management Inc.)(Brief Article)
November 9, 2001... NCO Portfolio Management Inc. more than doubled its earnings in the third quarter, to $2.7 million, or 20 cents per share, compared to last year.

Domino sugar sale finalized.(with Florida Crystals Corp., Sugar Cane Growers Cooperative of Florida)(Brief Article)
November 9, 2001... Domino Sugar, including its Baltimore plant, was sold to Florida Crystals Corp. and the Sugar Cane Growers Cooperative of Florida in a $180 million deal.

Duratek earnings jump 56%.(Brief Article)
November 9, 2001... Duratek Inc. reported 56 percent increase in earnings of $921,000, or 4 cents per diluted share, for the third quarter on decreased revenue.

Retail units boost Rouse Co. earnings.(Brief Article)
November 9, 2001... Led by growth in revenue from its retail center operations, The Rouse Co. reported an 11 percent increase in funds from operations for the third quarter.

Ms. Desserts up for sale.(by Bakery Resources Group L.L.C.)(Brief Article)
November 9, 2001... Bakery Resources Group LLC, which filed for Chapter 11 bankruptcy protection earlier this year, is trying to shed the Ms. Desserts company in a sealed-bid sale.

Corrections.(Correction Notice)
November 9, 2001... * Larry Rulison's Banking and Finance column [Vol. 19, Nov. 2-8, Page 6] misstated the second quarter book value for Patapsco Bancorp Inc. shares. Preferred shareholders were, not accounted for in the calculation. Book value for Patapsco...

Fila sues hoops coach. (Informed Source).(News Briefs)(Brief Article)
November 9, 2001... The man Fila U.S.A. Inc. tapped to expose it to the college basketball world made a hasty exit that could cost him $1 million. Fila U.S.A. the Sparks-based division of the Italian sportswear manufacturer, claims in a lawsuit filed Oct. 17...

Gainers & Losers. (Informed Source).
November 9, 2001... Kathleen Kennedy-Townsend somehow looks impoverished next to New York's new leader. [up arrow] Billionaire politicians Apparently, you can buy yourself an election. Hopkins' favorite son Michael Bloomberg takes over Gracie Mansion, and...

Md. gets high grade in 'new economy' study.(Maryland)(Brief Article)
November 9, 2001... Maryland is well-positioned to take advantage of the so-called new economy, according to a recent study conducted by the Milken Institute. The think tank's annual New Economy Index, which ranks the 50 states and the District of Columbia,...

Allfirst plans branches in 2 Super Fresh stores.(Brief Article)
November 9, 2001... Allfirst Bank is expanding its branch network by opening two branches in Super Fresh stores in Carroll and Baltimore counties. The partnership represents a coming together of two retail powerhouses in Maryland. Super Fresh, which is a...

N.Y. real estate firm targets city buildings.
November 9, 2001... Time Equities Inc., a New York-based real estate company, is jumping into the local property acquisition game, despite the crowded field of players and softening economy. Specializing in real estate investment and asset management, the...

'Secret' Jessup firm reaps $23M in capital.(Quantum Photonics)(Brief Article)
November 9, 2001... At an office park in Jessup, there's a fiber-optic manufacturing company that's so secretive right now it cannot reveal exactly how its technology works or who its customers are. The company's futuristic name -- Quantum Photonics -- only...

Baltimore firm taps into online travel business.(Integrated Marketing Solutions Inc. partnership with One Travel.com Inc.)(Brief Article)
November 9, 2001... The software division of Baltimore-based Integrated Marketing Solutions Inc. is partnering with one of the leading online travel companies in a move that should help the company establish itself in a growing industry. Todd Collins, chief...

Columbia Bank settles Internet firm dispute. (Banking & Finance).(Colombia Bank legal dispute with Network 1 Financial Corp., Powercard International Inc.)(Brief Article)(Statistical Data Included)
November 9, 2001... The Columbia Bank has finally rid itself of a legal boondoggle involving an Alabama Internet company. Since spring 2000, Columbia Bank (www.thecolumbiabank.com) has been trying to get itself out of the middle of a dispute in which an...

Legg expands distribution. (Banking & Finance).(Legg Mason Wood Walker Inc. agreement with Nexity Bank)(Brief Article)(Statistical Data Included)
November 9, 2001... Legg Mason Inc. (www.leggmason.com) has been furiously acquiring investment management firms around the world to boost its money management expertise, but the firm's brokerage business has hardly been asleep at the wheel. For the second...

Mercantile sells bonds. (Banking & Finance).(Mercantile Safe Deposit and Trust Co.)(Brief Article)
November 9, 2001... Mercantile Safe Deposit & Trust (www.mercantile.net), the flagship banking unit of Mercantile Bankshares, recently sold $200 million in 10-year bonds, according to Reuters. The private placement was underwritten by Lehman Brothers Inc. ...

Allfirst creates scholarship. (Banking & Finance).(financing for Hispanic students)(Brief Article)
November 9, 2001... Allfirst Financial Inc. (www.allfirst.com) has created a $20,000 college scholarship for Hispanic students living in the bank's footprint from Pennsylvania to Virginia who are interested in banking and finance. The scholarship, named the...

Newly named NAI KLNB to open D.C. office. (Real estate & economic development).(Brief Article)
November 9, 2001... NAI KLNB Inc., a Towson-based commercial real estate firm, plans to open an office in Washington, D.C., during the next year. The decision follows KLNB's name change to NAI KLNB Inc. last month, reflecting its expanded affiliation with the...

Two firms merge. (Real estate & economic development).(American Property Management and First American Management)(Brief Article)
November 9, 2001... American Property Management of Cockeysville has acquired First American Management of Columbia and formed a new firm. Called American Community Management, the combined operation will continue to specialize in community association...

The development team for the $110 million Lockwood Place officially broke ground on the planned office, retail and parking garage complex this week.(Brief Article)
November 9, 2001... * The development team for the $110 million Lockwood Place officially broke ground on the planned office, retail and parking garage complex this week. Bound by Market Place, Lombard, Gay and Pratt streets, the downtown site was formerly the...

Glenn R. Mueller, a Legg Mason Wood Walker Inc. real estate investment strategist and a Johns Hopkins University professor.(receives James A. Graaskamp award)(Brief Article)
November 9, 2001... * Glenn R. Mueller, a Legg Mason Wood Walker Inc. real estate investment strategist and a Johns Hopkins University professor, received the James A. Graaskamp award for excellence in real estate research from the Connecticut-based Pension Real...

Merritt Properties' Columbia Corporate Park received an award for "suburban office park of the year" from the Building Owners and Managers Association's local chapter.(Brief Article)
November 9, 2001... * Merritt Properties' Columbia Corporate Park received an award for "suburban office park of the year" from the Building Owners and Managers Association's local chapter. The park, which is bound by Route 175, Snowden River Parkway, McGaw and...

Strategix snags Jos. A. Bank e-mail account. (Marketing & Media).(Strategix Advertising and Public Relations Inc.)(Brief Article)
November 9, 2001... Strategix Advertising and Public Relations Inc. is now handling all e-mail marketing efforts for retailer Jos. A. Bank. Clothiers Inc. The Hampstead-based company hired Strategix (www.strategixads.com) Oct. 1 to coordinate its electronic...

Sass snares clients. (Marketing & Media).(Sass Communications lands three new ad accounts)(Brief Article)
November 9, 2001... Annapolis-based ad agency Sass Communications has added, three new clients to its roster. The firm (www.sasscom.com) was tapped as agency of record for Simrad U.S.A., the domestic division of Norway-based electronics maker Konsberg Co. ...