Business in Review

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City garage approvedThe Baltimore City Board of Estimates this week approved a proposal to build 210 St. Paul Place Garage, a 13-story, 519-space public project. Construction on the $15.5 million building should begin within 30 days. The state’s One Maryland program will fund $3 million of the project, and Baltimore City will contribute another $12.5 million to be raised from parking revenue bonds. State’s rich get richer …The income gap between Maryland’s poorest and the richest has grown significantly in the last two decades, though not out of pace with the rest of the country, according to a study released this week. While income for the richest families grew more than 50 percent since the late 1970s, income for the poorest grew only 20 percent, the study reports.Construction beginsConstruction began this week on a $4 million expansion and renovation of the Star Spangled Banner Flag House at 844 E. Pratt St. in Baltimore City. While the building will only measure 12,600 square feet, city and business leaders hope its effect –– coupled with the yet-to-be-built Maryland Museum of African American History and Culture and the ring of historic buildings around the area –– will be vast.No vacanciesHotels in the Baltimore and Annapolis regions are enjoying a strong start to the tourism season thanks to the Volvo Ocean Race’s Chesapeake stopover that kicked off last week. Of the 14 Inner Harbor hotels that reported their figures for this week, half reported being completely booked at least one night. Three of those seven hotels had two sell-outs, and three were booked solid for three nights. Racetracks re-upOne of the pioneers of Internet-based thoroughbred gambling has renegotiated its expired contract with the Maryland Jockey Club — this time with terms more flexible and slightly more favorable to the owner of Pimlico and Laurel racetracks. The Maryland Jockey Club will get a portion of all wagers made by Maryland bettors on any track within Youbet.com’s national network, and a bigger portion of wagers made by bettors elsewhere on races run at Pimlico and Laurel. Specific contract terms weren’t disclosed, but Tim Capps, the MJC’s executive vice president, said such agreements generally provide racetracks a cut of between 5 percent and 7 percent of wagers made.Book itWith its recent win of the Maryland Library Association account, The Berndt Group Ltd. is one step closer to redefining itself in the local market as an agency capable of handling a wide range of projects. Originally founded in the early 1990s as a firm specializing in Web design, John Berndt, president and chief executive, said during the past four years the agency has worked toward broadening its focus to take on work that is more in line with that of a traditional advertising agency.Northrop signs offA sophisticated early-warning radar system capable of detecting seaborne “friends or foes” as well as those in the air — the major component in a $1 billion-plus defense contract for the Australian government — was approved after tests at Northrop Grumman Electronic Systems. The Boeing Co., lead contractor on the program, this week announced the successful completion of the critical design review of the radar and identification friend or foe subsystems for Australia’s Project Wedgetail.Neighborhood feudA Charles Village woman has filed complaints with the U.S. Justice Department and the state Attorney General’s office, alleging the Charles Village Community Benefits District is violating the Americans with Disabilities Act and the state’s open meeting laws. Spurring Joan L. Floyd’s claims is the basement of the SS. Philip and James Catholic Church at 2801 N. Charles St., where a CVCBD budget hearing was scheduled this week. MBIA marks 1st yearThe Maryland Business Incubator Association is marking the end of its first year with a new corporate status and an eye on the future. The group that unites the state’s seven publicly funded business incubators last month celebrated its first-year anniversary by gaining official status as a nonprofit and re-electing its president, Ann Lansinger, the manager of Baltimore’s Emerging Technology Center.You’re outta hereAllied Irish Banks PLC is dropping accounting giant PricewaterhouseCoopers as its external auditors because of the scandal at Baltimore-based subsidiary Allfirst. Ireland’s largest bank said it would seek a new external auditor as part of wider efforts to restore public confidence in Allfirst, where a lone dealer has been accused of covering up $691.2 million in fraudulent losses. RWD reportsRWD Technologies Inc., a Columbia-based integrator engaged in business and technology solutions, reported first quarter revenue of $29.2 million with a net profit of $949,000, resulting in earnings of 6 cents per share. In 2001, first quarter revenue was $30.1 million, with a loss of $616,000, resulting in a loss of 4 cents per share.Construction contractGaithersburg-based Coakley & Williams Construction Inc. has been awarded a contract for the construction of the new 24,000-square-foot Allstate Insurance claims office in Clarksburg. The site will provide auto service bays, offices conference rooms and training facilities.Saul Centers reportSaul Centers Inc., a Bethesda-based equity real estate investment trust, reported funds from operations (FFO) increased 14.7 percent to $11,048,000 in the quarter ended March 31, compared to $9,632,000 for the same quarter in 2001. On a fully diluted per share basis, FFO was 56 cents per share for the 2002 first quarter, a 10.6 percent increase over the same quarter last year.Food Lion’s comingAmerican Community Properties Trust, a diversified real estate company, has completed the sale of 6.9 commercial acres in the master-planned community of St. Charles to VinRob Two LLC of Cornelius, N.C., a developer for Food Lion. Terms of the sale were not disclosed.Saussy speakingGordon Saussy, CEO, president, and co-founder of Germantown-based Megisto Systems, a leading developer of carrier-class Mobile Internet infrastructure equipment, will speak at the Wireless Ventures Conference in Burlingame, Calif., April 30-May 1. Saussy will provide a company profile on Megisto Systems.Name changeThe Maryland Higher Education Commission approved Garrett Community College’s request to change its name to Garrett College. The name change aims to assist in the college’s marketing efforts to draw students from outside its geographical area. Training program setColumbia-based General Physics Corp., a subsidiary of GP Strategies Corp., was chosen by Northern Westchester Hospital Center to provide a nuclear, biological and chemical gap analysis and on-site training.Jones promotedMaureen A. Jones was promoted to the post of vice president and chief financial officer of the Adams Express Co. and the Petroleum & Resources Corp. A CPA, Jones was formerly the vice president and treasurer of both Baltimore-based comp
anies.Award to GoreGore Fuel Cell Technologies Inc., of Elkton, a developer of membranes for fuel cells, has been selected by H Power Corp., a Clifton, N.J.-based fuel cell development company, to supply membrane electrode assemblies for fuel cell applications for at least the next 18 months.Snort’s happySourcefire Inc., a Columbia-based network security company founded on the success of the popular open source network intrusion detection system Snort, said Snort 1.7 is a finalist in Network Computing magazine’s 2002 Well-Connected Award in the category of intrusion detection systems. Snort 1.7 detects a variety of Internet attacks and probes and perform real-time traffic analysis and packet logging on IP networks.Herrnson speakingViability of Internet and electronic voting will be discussed by Paul S. Herrnson, director of the Center for American Politics and Citizenship and professor of government and politics, University of Maryland, and William Welsh, chairman, Elections Systems & Software at the Election Law Summit, June 23-25, in Washington, D.C.Earnings dipAnnapolis Bancorp Inc., parent company of BankAnnapolis, reported earnings of $145,000 (5 cents per basic and diluted share) for the first quarter of 2002, down slightly from $152,000 (5 cents per basic and diluted share) for the same period last year.Becker namedClinton-based Mona Electric Group Inc. has named Patrick Becker as vice president and controller. Becker, a CPA, had been serving as controller since joining the company in 1999.HelloBaltimore-based Keswick MultiCare Center has contracted with ImageLine on Hold, also of Baltimore, for ImageLine to provide professionally scripted and recorded telephone on-hold messages for the medical facility.Dry dockingThe Baltimore office of GE Capital Modular Space is supplying buildings for the Volvo Ocean Race-Round the World sailing event during its stopover here. Located in Baltimore’s Inner Harbor, the building provide temporary office space for sailing teams, race officials and others.Expanded guideEight new pilot measures have been added to the Maryland Nursing Home Performance Evaluation Guide, an online look at more than 200 comprehensive care nursing facilities and continuing care retirement communities in the state. The guide can be viewed at www.mhcc.state.md.us.Call him ‘DC’ DutchBaltimore County Executive C.A. Dutch Ruppersberger will announce his candidacy for U.S. Congress in Maryland’s Second District, at 10 a.m. Monday, at Edgemere Elementary School, 7201 North Point Road, Dundalk. Ruppersberger is wrapping up eight years as Baltimore County Executive. Minority degreesGraduation ceremonies at Maryland’s institutions of higher education are becoming more diverse, according to a report released by the Maryland Higher Education Commission. The report shows that members of minority groups earned 6,700 bachelor’s degrees last year, compared with 4,133 in 1992.Swackhamer honoredGene Swackhamer, creator of National 4-H Council’s Salute to Excellence volunteer recognition program, was recently inducted into the National 4-H Hall of Fame in ceremonies at the National 4-H Conference Center in Chevy Chase.School’s honoredMaryland’s Blue Ribbon Schools were honored this week at a gala at Martin’s West. The school are: Crofton Middle School, Anne Arundel County; Baltimore Polytechnic Institute, Baltimore City; Catonsville Middle School, Baltimore County; Mount Airy Middle School, Carroll County; Milton M. Somers Middle School, Charles County; Windsor Knolls Middle School, Frederick County; Thomas Spriggs Wootton High School, Montgomery County; Northern Middle School, Washington County; and Snow Hill High School, Worcester County.WorldTeq buybackWorldTeq Group International Inc., the Rockville-based provider of Affinity Services including Internet connectivity, long distance, calling cards and hosting services, reported its board has authorized the repurchase of up to 1 million shares of the company’s common stock in market transactions from time to time.… and more WorldTeqWorldTeq also announced revenue growth of 46 percent for the first quarter 2002 compared to the same period last year, with $1,152,000 in revenue this first quarter compared to $788,323 during the comparable period last year. Earnings before interest, depreciation and amortization (EBITDA) was $109,387.Are we there yet?HMSHost Corp., the world’s largest provider of food, beverage and retail concessions to the travel industry, and the New Jersey Highway Authority broke ground this week for a new travel plaza facility for the Garden State Parkway. The new plaza is scheduled to open in spring 2003.Acterna serviceGermantown-based Acterna has launched a new fiber characterization service that measures overall fiber quality and enables network operators and enterprises to cost-effectively increase network bandwidth, deliver faster transmission speeds and ensure highly reliable service for their customers.Get it rightMisunderstood and inefficient human resources processes create confusion and hinder organizational productivity, says a new Severna Park-based Hurwitz Group report, “Technology for the 21st Century Human Resources Department: Business Process Management.” OK for FileTekRockville-based FileTek Inc., a data storage and access management systems provider, said the Met Office (U.K.) has formally certified and accepted delivery of the Massive Archival Storage System (MASS) built and integrated by FileTek. The MASS installation supports several major users including the Met Office’s Hadley Centre for Climate Prediction and Research, which investigates the changing global climate. Wilmot namedIndependence Federal Savings Bank, with offices in Chevy Chase, said David W. Wilmot has been elected to the bank’s board of directors. William B. Fitzgerald IV and Jeanus B. Parks Jr., were re-elected to the Independence board for three-year terms. Fitzgerald was re-elected as chairman of the board.Choice incomeSilver Spring-based Choice Hotels International Inc. reported first quarter net income of $8.6 million, or 20 cents diluted earnings per share, compared to the $7.4 million in net income and 16 cents diluted earnings per share for first quarter 2001.Aether to reportOwings Mills-based Aether Systems will release its Q1 2002 results after market close on May 7. A conference call is scheduled for 8:30 a.m. on May 8. To join the call, dial: 800-441-0022 or 801-303-7410. Ask for Aether Systems.Sentori agreementSentori Inc., a Laurel-based provider of multi-service billing and customer care software solutions for the communications services industry, has reached an agreement with Siemens Netherlands to provide its Sentori 3G Billing and Customer Care software system for Belize Telecommunicat
ions Limited’s GSM/GPRS network.Sinclair tells SECBaltimore-based Sinclair Broadcast Group Inc. filed a $350 million universal shelf registration statement with the Securities and Exchange Commission, which will permit the company to offer and sell various types of securities from time to time, and said it intends to use the proceeds for acquisitions and debt reduction. Patapsco’s earningsBaltimore-based Patapsco Bancorp Inc., the parent company of The Patapsco Bank, reported earnings of $298,000, or 60 cents diluted earnings per share, for the company’s third quarter ended March 31, compared to earnings of $296,000, or 62 cents diluted earnings per share, for the prior year comparable period.Georgia on their mindDialysis Corp. of America purchased Ty Cobb Kidney Care, in Royston, Ga., for an undisclosed price. The center has 18 treatment stations serving Royston and surrounding communities. Hanover-based DCA owns and operates free-standing kidney hemodialysis centers.Shares redemptionHagerstown-based Allegheny Energy Inc.’s subsidiary, West Penn Power Co., which does business as Allegheny Power, said on May 22 it will call for the redemption of all outstanding shares of its 8 percent Quarterly Income Debt Securities, Junior Subordinated Deferrable Interest Debentures, Series A, due June 30, 2025, with a value of $70 million, and will pay a redemption price of $25 per share plus accrued interest.Job opportunitiesSwales Aerospace, a Beltsville-based company that provides engineering services, satellites and associated flight hardware, will recruit job candidates with top-secret clearance backgrounds in aerospace, electrical and mechanical engineering as hiring demands increase, according to Hire.com, an Austin, Texas-based talent acquisition and retention application service provider retained by Swales.Partners for progressNFR Security Inc., a Rockville-based manufacturer of intrusion detection and network monitoring equipment, added Stenstrom Scientific, of Marlton, N.J., a consulting and technology solutions firm specializing in risk mitigation, to its channel partner program, giving Stenstrom access to NFR’s comprehensive, integrated intrusion detection technology.Funds for SOTASGaithersburg-based SOTAS Inc., which designs and manufactures products to protect telecommunications systems, received a $5 million working capital line of credit from the Technology and Life Sciences Division of Comerica Inc., a commercial lender based in Detroit.Leases for COPTColumbia-based Corporate Office Properties Trust executed two leases for 71,243 square feet of space at One Gateway Exchange, a newly developed, 122,889-square-foot, Class A office building in Columbia. Neither company was specifically identified; one, a mid-Atlantic health care and related services provider, leased 49,938 square feet; the other, a national financial services company, will occupy 21,305 square feet.New jobKathy Ordonez was named president of Rockville-based Celera Genomics Group, effective immediately. Ordonez also will remain president of Alameda, Calif.-based Celera Diagnostics’ joint venture with Applied Biosystems Group, of Foster City, Calif. She has held several senior executive positions with Hoffmann LaRoche, including president and CEO of Roche Molecular Systems.New businessNorwalk, Conn.-based Applera Corp. said its Applied Biosystems Group will become the exclusive distributor of the Celera Discovery System operated by Rockville-based Celera Genomics Group, and that Applied Biosystems will integrate CDS and other genomic and biological information into a new knowledge business.New productGermantown-based Acterna Corp., a communications systems and networks monitoring company, launched the Acterna DA-3400 Data Network Analyzer, to enable network operations personnel to more easily solve complex data network and service problems that can occur during service turn-up and troubleshooting.Red Hat in the ringLaurel-based Digex Inc., which provides Internet access and Web site hosting services for businesses and institutions, is expanding its managed hosting offerings with the introduction of the Digex Managed Linux platform, using Red Hat Linux 7.2. Senior housingSince hitting a low of 82.4 percent occupancy in the fourth quarter of 2000, average occupancy rates for skilled nursing facilities throughout 2001 have stayed at or above that level, with average occupancy rates in both the third and fourth quarters of 2001 at 83.5 percent, according to data compiled by the National Investment Center for the Seniors Housing & Care Industries, based in Annapolis. Directory assistanceCollege Park-based LogicTree Corp., a provider of multi-modal voice and data access systems, and Danish software company Bo Tveden Systems A/S (BTS), a global developer of directory assistance technology, unveiled the BTS Enhanced Information Server, featuring speech-enabled and fully multimodal directory assistance.