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Maryland budget forecast brightens
After years of budgetary gloom and shortfalls in the billions of dollars, Maryland's fiscal forecasters offered lawmakers a brighter outlook Tuesday, saying the state's operating budget could be just $27 million in the red next fiscal year.
Top fiscal...Tags: Budgets and Budgeting, Frederick (Frederick, Maryland), Transportation, Frederick County (Maryland), David Brinkley
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Financial adviser accused of defrauding vulnerable clients
A federal grand jury indicted a Baltimore financial adviser Tuesday for mail fraud in an alleged scheme to defraud vulnerable clients including an 85-year-old with dementia of more than $838,500, according to the U.S. attorney for the District of...Tags: Maryland, Fraud, Lawyers, Justice System, Personal Finance
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Trustees step up criticism of pension staff
Sun StaffState pension trustees stepped up criticism of the system's staff yesterday, disavowing the top investment official's assertion that the firing of an indicted money manager was "not in our purview." Comptroller William Donald Schaefer, chairman of the...Tags: William Donald Schaefer, Maryland, Fraud, Wages and Pensions, Retirement
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Schools deal may hinge on state funding
Sun StaffWithout an advance of state funds to cover the Baltimore public schools' cash flow problem - one so great that it threatens to bankrupt the system - a deal brokered over the weekend to ease the system's $58 million deficit will not happen, sources close...Tags: Wages and Pensions, Regional Authority, Robert R Neall, Unemployment, Government
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Travelers told to avoid Beijing, Toronto
From Wire ReportsBEIJING - Global health officials warned travelers yesterday to avoid Beijing and Toronto, where they might contract the SARS virus and export it to new locations. Toronto, the first location outside of Asia targeted in efforts to contain the disease,...Tags: State Budgets, Pension and Welfare, China, Health Organizations, Diseases and Illnesses
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Bond-rate agency praises Baltimore
Sun StaffA prominent Wall Street bond rating agency improved its opinion of Baltimore's financial outlook yesterday, just a year after raising concerns about what it considered a risky gamble by the city to engineer a $42 million bailout of the public school...Tags: Thomas V. Mike Miller, Maryland, Public Schools, Academic Progress, Regional Authority
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South African wage demands send rand to four year low
Reuters* Main mining union NUM seeks wage hikes of up to 60 pct * Gold companies' shares drop, rand also under pressure * Threat of mines unrest is headache for ruling ANC * NUM rival AMCU now dominates tense platinum sector By Ed Stoddard JOHANNESBURG, May...Tags: AngloGold Limited, Mining, South Africa, Work Relations, Labor Legislation
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Brent holds above $102 as dollar eases, but supply outlook weighs
Reuters* IEA predicts rising supply from U.S. * U.S. crude inventories rose by 1.1 mln bbls, above f'cast -API * Brent to drop to $101.35 -technicals * Coming up: U.S. EIA weekly crude stocks at 1430 GMT By Manash Goswami SINGAPORE, May 15 (Reuters) - Brent...Tags: Inventories, Singapore, International Energy, American Petroleum
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Philip Falcone, firm agree to pay $18 million in fraud case
Star TribunePhilip Falcone, the onetime Chisholm rink rat who became a billionaire hedge fund manager, has agreed along with his firm to pay $18 million to settle a year-old fraud lawsuit accusing Falcone of using other people's money to pay his personal taxes and...Tags: Minnesota Wild, Trials, The Wall Street Journal, Companies and Corporations, Mutual Funds
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Advisory firm Sontag stops taking fees from Schwab and Fidelity
ReutersBy Jed Horowitz NEW YORK, May 9 (Reuters) - Sontag Advisory, which oversees $3.6 billion of investments for wealthy families and individuals, has reversed its policy of accepting payments from Charles Schwab Corp and Fidelity Investments for recommending...Tags: Charles Schwab, Investments, Finance, TD Ameritrade Holdings Corp.
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Asaph Schwapp: Big Guy, Big Loss
They didn't call him "Ace" for nothing. Asaph Schwapp was a stellar football player and even better young man who was emerging as a leader in Greater Hartford. His death Wednesday at age 26 from non-Hodgkins lymphoma is sad beyond words. Mr. Schwapp was...Tags: Football, United Football League, Hartford Colonials, Hodgkins Disease, University of Notre Dame
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Fund manager Falcone's star dims with tentative US SEC settlement
ReutersBy Emily Flitter NEW YORK, May 9 (Reuters) - Philip Falcone's fall from hedge fund stardom deepened on Thursday when a public company he controls disclosed that the billionaire investor had reached a preliminary settlement with U.S. securities regulators...Tags: Mutual Funds, Lehman Brothers Holdings Inc., Corporate Officers, Judges, Finance
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