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Barnes & Noble fiscal 3Q net income falls
NEW YORK — Barnes & Noble said Tuesday that its fiscal third-quarter net income fell 14 percent, as rising costs offset higher sales. The company also said it will introduce a cheaper Nook Tablet. In its latest salvo in the tablet competition Amazon.com, Barnes & Noble said it will sell a Nook Tablet device with […]
Rockville’s Vanda Pharmaceuticals reports 2Q loss of $1.3M
Vanda Pharmaceuticals Inc. of Rockville reported a second-quarter net loss of $1.3 million, or 5 cents per diluted share, on revenue of $7.4 million, versus net income of $1.3 million, or 4 cents per diluted share, on revenue of $8.3 million for the year-ago period. Analysts on average expected a loss of 5 cents per […]
Ciena stock dives after disappointing 2Q results
Shares of network equipment maker Ciena Corp. fell sharply Wednesday after it reported a larger loss and lower revenue than Wall Street expected, coupled with a disappointing forecast for the current quarter. The shares fell $3.92, or nearly 16.2 percent, to close at $20.29. Over the last year, the shares have traded as low as […]
Maryland and Virginia dueling for development
ANNAPOLIS — Maryland and Virginia have upped the ante in their high-stakes competition for economic development with plans for more than $200 million in new spending as other states struggle under staggering fiscal challenges. But Virginia has a big head start. Gov. Robert F. McDonnell, a Republican, won legislative support last spring for about $50 […]
Md. Senate leader says state budget could be worse
ANNAPOLIS — Maryland’s senate president wants lawmakers to “put on a happy face” as they slog through another tough budget year. Senate President Thomas V. Mike Miller teed up lawmakers Wednesday for Gov. Martin O’Malley’s state of the state speech, saying that Maryland is in much better economic shape than states like Arizona, Illinois and […]
1st Mariner Bancorp cuts loss nearly in half, to $3.5M
Still struggling to meet capital levels mandated by an agreement with bank regulators, 1st Mariner Bancorp, parent company of 1st Mariner Bank, on Monday reported a net loss for the fourth quarter of 2010. The Baltimore-based company had a pre-tax net loss of $3.5 million for the final quarter of the year, compared with a […]
Editorial: Balancing act
Gov. Martin O’Malley said repeatedly on the campaign trail in the fall that his top priority was jobs — creating them, retaining them, saving them and enabling businesses in Maryland to feel confident enough to add them to their payrolls. He said the same in the beginning days of the General Assembly session, and we […]
Md. budget cuts aid to health care providers, public schools
ANNAPOLIS — Gov. Martin O’Malley’s budget would once again raid transportation funds, but protect the state’s economic development programs in overcoming a $1.6 billion shortfall. O’Malley described the $34.2 billion spending plan for fiscal 2012 as his toughest yet. But after winning reelection in November in a campaign that centered on jobs and the economy, […]
Panel urges fiscal sweeteners to get casino at Rocky Gap
ANNAPOLIS – The state slots commission urged lawmakers Tuesday to loosen restrictions on the Western Maryland gaming license to spur development of a casino there as the General Assembly opens its 2011 session Wednesday facing a $1.6 billion budget deficit. The Video Lottery Facility Location Commission’s proposals include allowing gaming firms to own the Rocky […]
C. Fraser Smith: Making the case for practical progressivism
Get ready for the “new normal.” Gov. Martin O’Malley and his lieutenants are promising something noticeably different: smaller, leaner government — and here’s the kicker: in keeping with progressive priorities. It’s hardly surprising. Maryland is not a budgetary nightmare like California, Illinois, New York and many other states. But its own fiscal reality could be […]
Maryland’s budget woes will dominate 2011 legislative session
Maryland’s budget woes will dominate the 2011 legislative session as lawmakers seek to bridge a $1.6 billion deficit without the federal safety net that eased the state’s fiscal pain in recent years. Gov. Martin O’Malley has vowed to avoid tax increases in his budget proposal due Jan. 21 and legislative leaders say they agree with […]
Maryland leaders want less spending in 2011
ANNAPOLIS — Legislative leaders took a new approach to setting budget targets Tuesday, telling the governor and lawmakers that they wanted to see the persistent $2 billion structural deficit cut by a third next year, meaning a $670 million real reduction in general fund spending. The Spending Affordability Committee, made up of 21 fiscal leaders […]
