The effort to make a proposed Hunt Valley bowling alley a reality was the most-read business story of the week. First Mariner’s delisting on the Nasdaq and Baltimore International College keeping its accreditation – at least temporarily – also made the Top 5.
1. Lawsuit over letter of credit is filed by bowling alley group – by Ben Mook
The developers of a Hunt Valley sports bar and bowling alley, of which Baltimore Ravens linebacker Ray Lewis is a partner, are asking a federal court to prod a Rhode Island company to file paperwork necessary to move the project forward.
MVP Entertainment is a planned 63,000-square-foot leisure complex in Hunt Valley Towne Centre that will contain a 38-lane bowling alley, a sports bar and a memorabilia shop. The complex will occupy part of the space that used to house Wal-Mart store, which closed in 2008. The complete cost of the project has not been released.
2. USPS sticks with mail delivery warning – by Rachel Bernstein
The U.S. Postal Service stands by its announcement Monday that delivery may be affected in downtown Baltimore neighborhoods and areas this weekend because of the Baltimore Grand Prix.
The USPS had said that mail pickup and delivery for businesses and residents might be curtailed because of numerous street closings for the race. But City Councilman William H. Cole IV said he was stunned by the announcement because the post office never verified traffic information with the city.
3. First Mariner stock delisted from Nasdaq – by Ben Mook
The effort to attract investors will not be helped by the company’s shares being moved to an exchange that specializes in penny stocks. First Mariner said Wednesday that its stock had been delisted from the Nasdaq Stock Market for failing to sell at more than $1.
First Mariner said that effective Thursday, its shares will be traded on Over The Counter Bulletin Board under the symbol FMAR.OB.
4. Baltimore International College keeps accreditation – by Nicholas Sohr
Baltimore International College will retain its accreditation, and the critical federal financial aid eligibility that comes with it, to start the fall semester following a judge’s order issued late Wednesday night.
U.S. District Court Judge Marvin J. Garbis issued a temporary restraining order with only hours to go before the midnight deadline when the school’s accreditation through the Middle States Commission on Higher Education was set to expire.
5. City businesses counting on Grand Prix boost – by Rachel Bernstein
Baltimore’s hotels and restaurants are looking forward to sold-out tourism business from the Baltimore Grand Prix that starts Friday, even if hotels aren’t fully booked yet.
“I think once we get past Wednesday, the hotels will be filling up and things will take care of themselves,” said Judi DiGioia, sales and marketing manager for Morton’s The Steakhouse at Conway and Charles streets.