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Tag Archives: expenses

GenVec cuts workforce by 30 percent

GenVec Inc., of Gaithersburg, a biopharmaceutical company developing novel gene-based drugs and vaccines, said it was eliminating 23 positions, or approximately 30 percent of its workforce, in an effort to lower its operating costs to conserve capital. The company, which ...

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Hilton’s $11.5M loss mostly from depreciation

While the city-owned Hilton Baltimore Convention Center Hotel lost $11.5 million last year, development officials stressed that the loss is not coming down to taxpayers. “The hotel to date… has not lost a single penny for the taxpayers of Baltimore ...

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Catalyst Health 1Q earnings fall 5 percent

ROCKVILLE — Pharmacy benefits manager Catalyst Health Solutions Inc.’s first-quarter earnings fell 5 percent as costs related to an acquisition and infrastructure improvements soared. The Rockville company, which is being acquired by SXC Health Solutions Corp., earned $19.2 million, or ...

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Legg Mason’s 4th quarter profit up 10 percent

Baltimore-based Legg Mason Inc. said Tuesday that its fiscal fourth-quarter profit increased 10 percent as it cut expenses to offset the impact of lower stock and bond assets. Net income rose to $76.1 million, or 54 cents a share, in ...

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T. Rowe sees record assets under management, increase in profits

T. Rowe Price Group Inc. saw a record quarterly cash flow into target-date retirement portfolios in the first three months of 2012, the company’s CEO said Tuesday. “When people are thinking about adding more money into the marketplace, people, thankfully, ...

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Feds charge D.C. councilman with theft

WASHINGTON — D.C. Councilmember Harry Thomas Jr. was charged Thursday with stealing more than $350,000 in government funds and filing false tax returns. The two felony counts against Thomas, a 51-year-old Democrat, were detailed in a criminal information filed in ...

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Up to 10 pct of Virginia households use high-cost loans

RICHMOND, Va. — Nearly 10 percent of Virginia households have used short-term, high-interest payday, pawnshop and auto-title loans to make ends meet. A study by the University of Virginia’s Weldon Cooper Center for Public Service released Tuesday shows that more ...

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Most Smithsonian funding intact under budget deal

WASHINGTON — The Smithsonian Institution will see a $1.8 million cut in its 2011 budget under the spending deal approved by Congress. Details of the budget released Monday include a $759.6 million appropriation from Congress, down from $761.4 million last ...

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