Baltimore Business Journal articles from October 1998

Baltimore Business Journal archives from October 1998

REIT plots local expansion.(Corporate Office Properties Trust)
October 30, 1998... An acquisitive Philadelphia real estate investment trust has finalized plans for construction on a new Howard County office building. On Oct. 21, Corporate Office Properties Trust began work on Woodlands Two, a 106,000-foot speculative...

Nations Tops SBA lending.(NationsBank N.A.)
October 30, 1998... Key Bank knocked off top of local list NationsBank N.A. led the pack in local SBA lending this year, seizing the top spot from Key Bank and Trust Co. in Owings Mills. According to the U.S. Small Business Administration's Baltimore...

Softwear developers: duo sees future in wearable computers.(Global Interactive Technologies Inc.)
October 30, 1998... A couch divides Jemel V. Hatcher's living room from the office of Global Interactive Technologies Inc. "We knew we wouldn't have a bunch of sales early, so we needed the least amount of overhead possible," said Hatcher, who is president...

When art imitates sport: Orioles to open gallery inside Camden warehouse.
October 30, 1998... The Baltimore Orioles are delving into the art world with the opening of a new sports art gallery in the Warehouse at Camden Yards. The Sports Gallery - Fine Art at Camden Yards, which will be owned and operated by the Orioles, is slated...

Verio readies server move from Howard.(Maryland)
October 30, 1998... The business that started out in a barn as Clark Internet Services Inc. is packing up and leaving the farm. Verio Inc., which acquired ClarkNet in February for $3.8 million, said this month that it is moving the Internet service...

Strapazza shuts doors at Cockeysville eatery.(Strapazza Investment Group)
October 30, 1998... Strapazza Investment Group has dosed the doors to its Italian restaurant in Cockeysville. Officials at the local restaurant group say they are undaunted by the latest closing of one of its Strapazza restaurants, and plan to open at least...

Struever Bros. looks for state aid on Bagby job.(Struever Bros. Eccles & Rouse Inc.; Bagby building)
October 30, 1998... Struever Bros. Eccles & Rouse Inc. is seeking $1 million in state grants to finish developing the Bagby Building in Inner Harbor East. The Baltimore real estate company is seeking the money from the Maryland Department of Business and...

Construction sector digging for workers.(Maryland)
October 30, 1998... Short on labor, construction firms have begun to scour local schools for workers. The construction industry televised live to 800 students in 14 Maryland high schools this month asking them to consider a career in construction. The...

For whose benefit? Same-sex benefits aren't common in corporate Baltimore.(Special Report: Human Resources)
October 30, 1998... To some, it is a fair-minded policy that can make a company more competitive. To others, it is a sign that society is crumbling under the weight of its own immorality. The policy's official name is "employee benefits for domestic...

C. Richard Donovan: principal, Bolton Offut Donovan Inc.(Special Report: Human Resources)(Interview)
October 30, 1998... Richard Donovan agrees with the old saying, "You get what you pay for." As a principal and strategic compensation and benefits specialist with Bolton Offutt Donovan Inc. - a 20-year-old actuarial consulting group in Baltimore - Donovan...

Young Arundel bank keeps it local.(County National Bank)
October 30, 1998... County National Bank president Jan W. Clark knows the value of doing business over sandwiches and a round of iced teas. In 1996, when Clark, bank chairman Henry L. Hein and executive vice president John G. Warner were trying to secure...

Northrup Grumman Corp.(Proxy Report Excerpts)(Company Profile)
October 30, 1998... Corporate profile The big news at Northrop Grumman Corp. this year was the canceled merger with Lockheed Martin Corp. Lockheed called it off on July 16. Northrop Grumman chief executive officer Kent Kresa said the aircraft and aircraft...

IHS plans massive HQ.(Integrated Health Services Inc's planned headquarters in Hunt Valley, Baltimore, MD)
October 23, 1998... Integrated Health Services Inc. is moving 1,000 employees to a massive new headquarters complex planned for the Hunt Valley area by mid-1999. The health services company wants to consolidate its five separate offices in Baltimore County,...

Charles Plaza revamp: buyers to remake troubled complex.(Southern Management Corp's acquisition of Charles Plaza)
October 23, 1998... The troubled Charles Plaza, which was auctioned off earlier this month, is being acquired by a Virginia development company. A Southern Management Corp. official confirmed this week that the company has entered into a contract to purchase...

Hopkins HMO leaving downtown.(Johns Hopkins Healthcare' relocation to Ann Arundel County, MD)
October 23, 1998... Health plan, out of room, to exit city-for cheaper rent and parking in Arundel Johns Hopkins HealthCare is moving to an Anne Arundel County office park after running out of room in its downtown Baltimore location. The managed care...

Muzak affiliate moves HQ to Baltimore Co.(Audio Communications Network LLC's relocation to Baltimore County, MD)
October 23, 1998... Investors who spent $68 million to take over the nation's largest franchisee of Muzak LP have moved the firm's headquarters to Baltimore County. Abry Partners, a Boston-based venture capital firm specializing in media acquisitions,...

Kirk-Stieff shutdown ends storied business.(Kirk-Stieff Co)
October 23, 1998... Charles Clinton Stieff II, the historian in the family, remembers when Kirk-Stieff Co. thrived. But the Baltimore silver company with roots back to 1815 that he once helped run will close next year because the business is unprofitable....

Bankers Trust loses millions in quarter.(Bankers Trust Corp; 3rd qtr 1998)
October 23, 1998... Hit hard by the unstable markets in both the United States and Europe, T. Rowe Price Associates Inc. managed to squeeze out a small increase in profits for the third quarter. It was a different story for Bankers Trust Corp., the parent of...

Hale wants slow 1st Mariner's rapid growth.(First Marine Bancorp Chmn Edwin F. Hale Sr.)
October 23, 1998... First Manner Bancorp chairman Edwin F. Hale Sr. said he has no intentions of taking his bank off the fast track, but may slow down the pace a bit. Bank analysts agree with the strategy, saying that is exactly what the 3-year-old bank...

Crosby Marketing aiming for top of the list.(Crosby Marketing Communications)
October 23, 1998... Ralph W. Crosby is thinking big. The founder and president of Crosby Marketing Communications in Annapolis said he is positioning his agency to become one of the area's largest firms by beefing up its senior management and aggressively...

Outside the family.(Ferris, Baker Watts CEO Paul Geidel)
October 23, 1998... Paul "Chip" Geidel knew what he was facing before he decided to take his current job 18 months ago. Geidel, the chief executive officer of Ferris, Baker Watts Inc., was an "outsider" - the first nonfamily member chosen to run the...

Raymond A. 'Chip' Mason.(interview with Legg Mason Inc chairman and CEO)(Interview)
October 23, 1998... Chairman and CEO, Legg Mason Inc. Raymond A. "Chip" Mason, chairman and chief executive of Legg Mason Inc., presides over one of the country's most successful financial service holding firms - a company with more than $70 billion in...

Prime Retail Inc.(Proxy Report Excerpts)(Company Profile)
October 23, 1998... Corporate profile Earlier this year, after the closing of its merger with Horizon Group Inc., Prime Retail Inc. became the largest owner/operator of outlet centers in the nation, with 49 centers containing 13.6 million square feet,...

Doctors Health bailout.
October 16, 1998... Investors to keep company afloat with capital infusion Doctors Health Inc. this week was on the brink of securing a fin package that should keep it afloat at least for a year, but will drastically alter control of the troubled company,...

Lofty idea sinks fast.(bankruptcy of Doctors Health Inc.)
October 16, 1998... The reasons for the stunning fall of Doctors Health Inc. could easily be lost in the arcane language of modern health care - terms such as global capitation contracts, medical service organization, care management. And while the vagaries...

Waiting for the ax.(anxiety of employees of investment banks in Baltimore, Maryland)
October 16, 1998... Stock business slow, employees worry One word describes the mood at local investment firms: anxious. "It's scary to be in this industry right now," said one young BT Alex. Brown Inc. employee while standing outside of the firm's...

Lucky seeking out markets for rehab housing business.(Lucky Homes Inc.)
October 16, 1998... Lucky Homes Inc., which buys, restores and sells older homes in lower-middle-class neighborhoods, is expanding nationally with plans to go public within two to three years. Lucky recently expanded into Dallas, and encouraged by the number...

Observers say BGE not likely to unionize.(Baltimore Gas and Electric Co.)
October 16, 1998... Industry observers believe Baltimore Gas & Electric Co. will still be a nonunion employer after the National Labor Relations Board finishes counting votes today. About 3,200 BGE workers completed voting Oct. 15 to decide whether they...

Campbell Group aims ads at 'power couples.'.
October 16, 1998... A local advertising agency has created a 85 million advertising campaign to promote a new "his and hers" frequent-flyer program for Inter-Continental Hotel and Resorts. The Campbell Group developed the international campaign to introduce...

Carroll fuel company hungry for more sales.(Carroll Independent Fuel Co.)
October 16, 1998... A Baltimore fuel company is driving into the retail business. Carroll Independent Fuel Co. was scheduled to open its third convenience store and fast-food carryout restaurant, dubbed Carroll's Convenience Store & Eatery, today at the...

Big banks making run for small businesses.(Baltimore, Maryland)
October 16, 1998... Three large regional banks are hoping to grab a bigger share of the growing small-business sector, an area that has long been dominated by community banks. First National Bank of Maryland will soon be increasing its number of...

Low expectations.(growth of Rent-A-Wreck of America Inc.)
October 16, 1998... Despite odd name, Rent-A-Wreck thrives Rent-A-Wreck of America Inc. marks a quarter century in business this year. To understand how this Owings Mills-based car rental company that once teetered on the edge of collapse has come roaring...

Playing it safe.(management strategy of Aegon USA Inc.)
October 16, 1998... Aegon's 'simple strategy' translates into record profits Donald J. Shepard admits that his company's strategy may not be sexy. But the president and chief executive of Aegon USA doesn't have to apologize to anyone for being a...

Mercantile Bankshares Corp.(proxy report excerpt)(Company Profile)
October 16, 1998... Corporate Profile Mercantile Bankshares Corp., a multibank holding company with affiliates around the Mid-Atlantic region, remains Baltimore's largest locally owned financial institution. The $7.3 billion-asset bank. which has now...

Doctors Health in trouble. (physician network sues NYLCare Health Plan)
October 9, 1998... Dispute with NYLCare could bankrupt pioneering physicians group The decision by a major insurance company to exit the Maryland Medicare HMO market threatens to put the Baltimore area's largest doctor group out of business. Doctors Health...

Ford dealers nix TBC. (Baltimore Ford Dealership Association terminates advertising contract with Trahan, Burden and Charles Inc.)
October 9, 1998... J. Walter Thompson to Open office here Trahan, Burden & Charles Inc. lost its $5 million advertising account with the Baltimore Ford Dealership Association after just six months on the job. The Ford dealers instead have hired J. Walter...

Third time lucky. (AmericasBank Corp.)(Company Profile)
October 9, 1998... Jameson looking for charm in latest bank It's no coincidence that AmericasBank Corp. is going to anchor its new headquarters in a former NationsBank Corp. branch. Since this small East Baltimore thrift opened its doors last December, it...

NCT looks for stock sale to pay for deals. (Noise Cancellation Technologies Inc.)
October 9, 1998... Noise Cancellation Technologies Inc. officials will ask shareholders to authorize 50 million shares of stock to help the company fund a shopping spree. If the measure is approved at the Linthicum-based sonic technology company's Oct. 20...

CarMax driving into White Marsh. (CarMax Auto Superstores Inc. to open used-car superstore in Baltimore, MD)
October 9, 1998... CarMax Auto Superstores Inc. will open its first Baltimore area used-car superstore by late November. The newest CarMax store, which is expected to employ more than 200 employees, will have about 500 used vehicles for sale at its 23-acre lot...

More BT Alex. Brown analysts to leave firm.
October 9, 1998... Two more equity analysts are leaving BT Alex. Brown Inc. as the investment firm continues to restructure its prominent research division. The Oct. 2 announcement that analysts Kathleen Heaney and Tom Ryan - two of at least 14 analysts who...

Hawkins to slice up Michigan pizza market. (UrbanCityFoods LLC acquires 90 Michigan Pizza Hut restaurants from Tricon Global Restaurants)
October 9, 1998... UrbanCityFoods LLC has acquired 90 Pizza Hut restaurants in Michigan from Tricon Global Restaurants for an undisclosed amount. The deal gives UrbanCityFoods' owner, La-Van Hawkins, exclusive rights to develop Pizza Huts in Michigan and...

Pollution control firm hopes to bounce back. (Environmental Elements Corp.)
October 9, 1998... Environmental Elements Corp. has fought more than just dirty air over the last couple of years. The Baltimore-based maker of pollution control devices has been hit hard by stagnation in the environmental protection business and the softening...

Market trips up offerings.(new Maryland stock offerings delayed by market conditions)
October 2, 1998... Scared off by the collapse of the market for new stock offerings, five Maryland firms have decided against going public this year. The firms are waiting out what they hope is only a temporary downturn in the once thriving bull market. ...

Hawkins loses suit; billboard firm wins $836,000 judgment.(Burger King franchisee La-Van Hawkins; Universal Outdoor Inc.)
October 2, 1998... A Baltimore City Circuit Court judge ordered Burger King franchisee La-Van Hawkins' company to pay more than $836,000 to a billboard vendor. Judge Kathleen O'Ferrall Friedman granted a summary judgment against La-Van Hawkins...

Bankers face consolidation music in neighborly Carroll.(Caroll County, MD)
October 2, 1998... Carroll County bankers say they aren't quite ready for increased competition from an "outsider," not even flit is from the county next door. But the closely knit rural community, which has long been dominated by a handful of locally...

Biotechnology firm looks for turnaround.(North American Vaccine Inc.)
October 2, 1998... With minimal sales and its chief product yet to make it into the U.S. market, North American Vaccine replaced its president this week and launched a plan to raise cash. Officials from the biotechnology company, which moved from...

New GM oversees Brookshire renovations.(general manager Dennis Castleman; Brookshire Inner Harbor Suite Hotel)
October 2, 1998... The Brookshire Inner Harbor Suite Hotel is undergoing a makeover designed to improve its position in the downtown hotel market. From new doors and electronic locks to a new general manager, this 15-year-old hotel at the corner of Calvert...

Some HMOs hold fast to Medicare market.(health maintenance organizations)
October 2, 1998... Feeling a financial squeeze from lower reimbursement rates, a number of HMOs recently decided to drop out of the federal Medicare program. But others, such as Blue Cross and Blue Shield of Maryland, have decided to stick it out to...

National law firms test waters in Baltimore.
October 2, 1998... Corporate mergers and acquisitions may spell trouble for Baltimore's economy, but they are making the city a more attractive location for large regional law firms. Prominent Philadelphia law firm Blank, Rome, Cominsky & McCauley is...

Sunny's being transformed.(Growth Strategies)(Sunny's Surplus' name change to Sunny's, the Affordable Outdoor Store)
October 2, 1998... After 50 years of slow, steady growth, a venerable outdoors outfitter is changing its name and gearing up for a period of rapid expansion. As Elkridge-based "Sunny's Surplus" transforms itself into "Sunny's, the Affordable Outdoor Store," it...

Business as usual: controversial tax changes have little effect on area eateries.(Special Report: Corporate Dining)
October 2, 1998... It looked like a possible Armageddon at first, but it has turned out to be just business as usual. Back in 1986, and again in 1993, restaurant owners were sent into paroxysms of despair when the federal government cut the deduction...

Fancy dining lives on in Baltimore business.(Special Report: Corporate Dining)
October 2, 1998... Important corporate decisions such as this one have been made behind closed doors for years: Crabcakes or grilled chicken? Crabcakes are the most popular, say those who prepare meals exclusively for top corporate executives at places such...

Mid-Atlantic Realty Trust.(Proxy Report Excerpts)(Company Profile)
October 2, 1998... Corporate Profile Mid-Atlantic Realty Trust has focused on acquiring and developing shopping centers within the Mid-Atlantic region. MART is a real estate investment trust that owns, acquires, develops, redevelops, leases and manages...