News money 2008-04-27 Andanh.com

Markets limit rice purchases Thu, 24 Apr 2008 00:00:00 -0400
'Supply, demand trends' faulted

Jenna Liu carries a bag of rice at a California Costco store. Costco, like Sam's Club, is limiting rice buys. The move comes as U.S. rice futures reached a record high amid global food-price inflation, although one rice expert said the warehouse chains might be reacting less to any shortages than to stockpiling by restaurants and small stores.

Luxury housing plans for Brewers Hill scaled back Thu, 24 Apr 2008 00:00:00 -0400
Apartment project in Brewers Hill has been scaled back

As many as 485 new luxury apartments are being planned for two blocks of Baltimore's Brewers Hill neighborhood, the mixed-use redevelopment of two shuttered breweries.

Transmission boxes may cause TV viewing problems Thu, 24 Apr 2008 00:00:00 -0400
Transmission boxes may cause problems with TV viewing

Did my TV screen just shrink?

T. Rowe reports 1st quarter profit hits $151.5 million Thu, 24 Apr 2008 08:55:00 -0400
T. Rowe Price Group Inc. said this morning that first-quarter profit grew to $151.5 million, or 55 cents per diluted share, compared with $142.9 million, or 51 cents per diluted share, in the corresponding period last year.

Federal spending in Md. up about 10%, to $75 billion Thu, 24 Apr 2008 00:00:00 -0400
Spending here is up about 10%, to $75 billion

Federal spending in Maryland - a key engine for this government-town state - rose faster in the 2006 fiscal year than it did nationwide, according to a new tally released yesterday.

Legg Mason manager looks for fund to rebound Thu, 24 Apr 2008 00:00:00 -0400
hopeful on housing, financial markets

Legg Mason star money manager Bill Miller hopes his Value Trust fund has seen the worst of market volatility.

Toyota passes GM in worldwide vehicle sales Thu, 24 Apr 2008 00:00:00 -0400
Growth in Europe, China is key factor

Toyota took the global sales lead from General Motors in the first quarter, capitalizing on growth in China and Europe as GM's declining North American sales more than offset its gains in other markets.

Delta, Northwest post hefty losses, blame fuel prices Thu, 24 Apr 2008 00:00:00 -0400
Slash in value of airlines, soaring fuel prices blamed

Delta and Northwest, seeking to combine to create the world's largest airline, posted losses yesterday totaling $10.5 billion for the first three months of the year, resulting from soaring fuel prices and write-downs of their companies' value.

Liberty Mutual to buy rival Safeco Corp. in $6.2B deal Thu, 24 Apr 2008 00:00:00 -0400
Deal for Safeco valued at $6.2 billion

Liberty Mutual Group Inc. said yesterday that it has agreed to buy Safeco Corp. for $6.2 billion in cash in a deal to create the nation's fifth-largest property and casualty insurer.

General Electric CEO faces irked shareholders Thu, 24 Apr 2008 00:00:00 -0400
Immelt acknowledges poor results, calls more hard slogging possible

General Electric Co.'s annual meetings are typically upbeat affairs as executives showcase the company's successes to satisfied shareholders of one of the world's most diversified and successful companies.

Costco, Sam's Club limit rice purchases Thu, 24 Apr 2008 00:00:00 -0400
'Supply, demand trends' faulted

The two biggest U.S. warehouse retail chains are limiting how much rice customers can buy because of what Sam's Club, a division of Wal-Mart Stores Inc., called yesterday "recent supply and demand trends."

Apple's profit jumps 36% to $1.05 billion Thu, 24 Apr 2008 00:00:00 -0400
Apple Inc.'s fiscal second-quarter profit jumped 36 percent on blistering sales of Macintosh computers - and beat Wall Street estimates - but its stock dipped on a lower-than-expected profit forecast.

Amazon's profit climbs 29% Thu, 24 Apr 2008 00:00:00 -0400
U.S., overseas sales strong in 1st quarter

Web retailer Amazon.com Inc. said yesterday that its first-quarter profit rose 29 percent, helped by solid sales in the United States and abroad.

Lockheed beats forecasts with 6% rise in 1Q profit Wed, 23 Apr 2008 00:00:00 -0400
Defense contractor Lockheed Martin Corp. said yesterday that its first-quarter earnings rose 6 percent as higher sales of space equipment, missiles and other combat tools offset a dip in sales of fighter jets.

SEC weighs credit rating rules Wed, 23 Apr 2008 00:00:00 -0400
Conflicts of interest by agencies targeted

The Securities and Exchange Commission is considering new rules to limit conflicts of interest in the credit-rating industry, which is under scrutiny for not sounding the alarm about risky mortgage investments soon enough.

Port exports set record Wed, 23 Apr 2008 00:00:00 -0400
80% increase in autos leads way

Propelled by a weakening dollar, a surge of exports - especially autos - drove the value of cargo moving through the port of Baltimore last year to a record $41.9 billion, though tonnage increased less than 1 percent, the Maryland Port Administration said yesterday.

Steps to success Wed, 23 Apr 2008 14:12:00 GMT
A couple who grew up on adjoining Emmitsburg farms and were high school classmates have built a business that has lasted 50 years

Company offers stairways for the stars Wed, 23 Apr 2008 14:13:00 GMT
Reaching for the stars has been fun for the co-owner of a company that builds stairs

Realtor: It's a crucial time for buyers, sellers Wed, 23 Apr 2008 14:15:00 GMT
The next 100 days could be a crucial time for home sellers and buyers, according to a local Realtor

Small farm loans can be big business for banks Wed, 23 Apr 2008 14:15:00 GMT
Delivering services and products where there's a need is the rationale for Branch Banking and Trust's farm loan program

Sandy Spring reports net income Wed, 23 Apr 2008 14:14:00 GMT
Sandy Spring Bancorp Inc , Olney, the parent company of Sandy Spring Bank, announced net income of $8 2 million or 50 cents per diluted share compared to $7 5 million or 49 cents per diluted share for the first quarter of 2007

A small wonder Fri, 25 Apr 2008 00:00:00 -0400
Seton Hill resident finds a lot to like in 9-foot-wide rowhouse

Kevin-Douglas Olive, a teacher at Sudbrook Magnet Middle School, relaxes in the courtyard behind his rowhouse in Seton Hill. The yard was a key factor in Olive's decision to buy the property, which he and his partner paid $69,000 for in 2002.

Bush says rebates going out Monday should help economy Fri, 25 Apr 2008 14:18:00 -0400
President Bush said tax rebates will start going out Monday, earlier than previously announced, and should help Americans cope with rising gasoline and food prices, as well as aid a slumping economy.

Black & Decker to cut 700 jobs as profits drop Fri, 25 Apr 2008 00:00:00 -0400
Profit down 38%,

Black & Decker Corp. said yesterday that it will lay off 700 employees and close a U.S. plant and office after its first-quarter earnings were hammered by the prolonged housing slump and subprime mortgage crisis.

Workers authorize strike at Bloomingdale's NYC flagship Fri, 25 Apr 2008 11:57:00 -0400
Workers have authorized a strike at Bloomingdale's Manhattan store, which could lead to the first shutdown at the famed flagship in more than four decades.

J. Bank plays it close to the vest Fri, 25 Apr 2008 00:00:00 -0400
J os. A. Bank Clothiers stock has fallen by nearly half since last spring. The menswear chain is defending itself against two shareholder lawsuits. Analysts worry it might get squeezed between a falling economy and rising costs. "Short sellers," who will profit if the shares fall further, are betting on it.

T. Rowe Price profit up 6% in 1Q; stock spurts Fri, 25 Apr 2008 00:00:00 -0400
Investments in funds set record

Investors poured a record amount of money into T. Rowe Price Group's mutual funds and other investments in the first quarter, helping the Baltimore money manager's profit grow 6 percent. Price's shares jumped nearly 12 percent on yesterday's earnings news.

Real Estate Wonk: Look closely at mortgage broker fees Fri, 25 Apr 2008 00:00:00 -0400
L ooking to get a mortgage or refinance an existing one? If you have the credit score to make it work, you shouldn't have trouble finding people who really, really want your business. The trick is deciding who should get it.

Arby's owner pays $2.3 billion for Wendy's chain Fri, 25 Apr 2008 00:00:00 -0400
Peltz's company for burger chain

After at least two rejections, billionaire Nelson Peltz has finally succeeded in landing Wendy's in a $2.3 billion deal that would add the chain known for its square burger and chocolate Frosty dessert to his ownership of Arby's and its roast beef sandwiches.

Homing in on the right mortgage Fri, 25 Apr 2008 00:00:00 -0400
I have received much e-mail lately from buyers who are worried about not being able to find a good mortgage lender.

New home sales at lowest level since 1991 Fri, 25 Apr 2008 00:00:00 -0400
8.5% March decline exceeds forecasts; prices also tumble

Sales of new homes in March plummeted to the lowest level since the housing recession of the 1990s, the government said yesterday, as inventories rose to the highest point in more than a quarter of a century.

New-home sales lowest since 1991 Fri, 25 Apr 2008 00:00:00 -0400
8.5% March decline exceeds forecasts; prices also tumble

Sales of new homes in March plummeted to the lowest level since the housing recession of the 1990s, the government said yesterday, as inventories rose to the highest point in more than a quarter of a century.

Microsoft earnings down 11% Fri, 25 Apr 2008 00:00:00 -0400
Microsoft Corp. said yesterday that its fiscal third-quarter profit was 11 percent lower than in the year-ago quarter, when the software maker reported more than $1 billion in deferred revenue tied to delays in the launch of the Windows Vista operating system.

Ford expects 2008 loss despite quarterly profit Fri, 25 Apr 2008 00:00:00 -0400
Despite a surprise profit of $100 million for the first quarter, Ford Motor Co. said yesterday that it still expects to lose money this year as the U.S. auto market deteriorates.

Rising costs, delays push Northrop profit down 32% Fri, 25 Apr 2008 00:00:00 -0400
Northrop Grumman Corp. said yesterday that first-quarter earnings fell 32 percent as the company took a charge resulting from rising costs and delays in an amphibious assault ship it is building for the Navy.

Fire sale at the firehouse Fri, 25 Apr 2008 15:17:00 GMT
A downtown Frederick landmark, Firehouse Financial Center at 12-16 West Church St , is on the auction block

Getting the gas you pay for? Sat, 26 Apr 2008 00:00:00 -0400
Worn valve at pump often unnoticed unless buyer is watching

Joe Marcello Sr., of the Schenectady County weights and measures department, tests gas pumps at a station in Duanesburg, N.Y. Worn "check valves" are a common problem that can be a long time in correcting because of agencies' short staffing. The problem often goes unnoticed unless the buyer is watching.

Chertoff to announce new airport security initiative Sat, 26 Apr 2008 13:51:00 -0400
Airport will serve as a testing point for program called 'Checkpoint Evolution'

The secretary of the Department of Homeland Security is expected to announce a new security initiative for the nation's airports Monday at Baltimore-Washington International Thurgood Marshall Airport, officials said today.

Under Armour plans for corporate campus in city Sat, 26 Apr 2008 00:00:00 -0400
CEO Plank confirms desire for a larger presence in city

Baltimore sports apparel company Under Armour confirmed yesterday that it wants to build a in the next several years, when it expects to outgrow its Tide Point headquarters.

Automobile dealers hit sales dead end in Md. Sat, 26 Apr 2008 00:00:00 -0400
For the first time in a decade, more auto sellers closed last year in Md. than opened for business

Towson Ford is gone. So are Baltimore's Apple Lincoln Mercury and Miller Motors Buick.

Wachovia to pay $144 million to settle telemarketing case Sat, 26 Apr 2008 00:00:00 -0400
Wachovia to pay $144 million for not halting sellers' activities

Wachovia Corp. has agreed to pay an estimated $144 million to settle federal allegations that it failed to stop telemarketers charged with taking advantage of thousands of elderly consumers.

Inflation concerns may halt Fed cut next week Sat, 26 Apr 2008 00:00:00 -0400
Interest rates may go unchanged next week

A few weeks ago, financial analysts here were certain that the Federal Reserve would try to spark the economy with another half-point cut in interest rates when its policy-making committee meets next week.

After 3 months, Microsoft's quest for Yahoo still in limbo Sat, 26 Apr 2008 00:00:00 -0400
3 months after offer, decision likely soon

Microsoft Corp. is no closer to buying Yahoo Inc. than when it made its $44.6 billion bid nearly three months ago, leaving the software maker in a quandary over whether the deal is still worth pursuing.

With focus on big picture, Dow, S & P gain modestly Sat, 26 Apr 2008 00:00:00 -0400
Wall Street ended its second-straight winning week with a moderate advance yesterday, overcoming concerns about consumer confidence and inflation.

Transportation: BWI awards $32 million pact Sat, 26 Apr 2008 00:00:00 -0400
The state Board of Public Works has awarded a Hyattsville contractor, W.M. Schlosser Co., a $32 million deal to build a baggage system at Baltimore-Washington International Thurgood Marshall Airport, BWI spokesman Jonathan Dean said yesterday. The upgrade is expected to take two years and could enable AirTran Airways, the airport's second-leading carrier, to double its daily departures at BWI.

Automakers: GM avoids strikes in Kansas, Michigan Sat, 26 Apr 2008 00:00:00 -0400
United Auto Workers locals at General Motors Corp. factories in Kansas and Michigan delayed threatened walkouts yesterday and continued to negotiate with the automaker.

Regulation: 250,000 fund investors to share $30 million Sat, 26 Apr 2008 00:00:00 -0400
The Securities and Exchange Commission said yesterday it will distribute more than $30 million to about 250,000 investors in a boutique mutual fund firm charged with allowing excess trading.

The past and future of MSD Sat, 26 Apr 2008 15:55:00 GMT
The Maryland School for the Deaf has been an integral part of Frederick since 1868, but is very different today than at its foundation

Graduating to real life Sun, 27 Apr 2008 00:00:00 -0400
Many college seniors could use lessons in handling finances

Ryan Minnehan, a senior at Towson University with three part-time jobs, contributes to a Roth IRA and has a savings account that offers high interest. "My thought is that every dollar I have, I want to be invested or earning interest," says Minnehan. Many college seniors could use lessons in handling finances.

Housing woes, economy put city development on hold Sun, 27 Apr 2008 00:00:00 -0400
Housing woes, economy put $1 billion in city development on hold amid rethinking of plans, hopes for better market

amid rethinking of plans, hopes for better market

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