| Jul 23, 2013
| 3:32 PM
Legg Mason Inc. announced the appointment of Dennis M. Kass, an independent director and former CEO, as its new chairman during the annual shareholders meeting Tuesday.
Kass, 62, joined the board of the Baltimore-based money manager in April and replaces...
| Jul 25, 2013
| 3:00 PM
Legg Mason Inc. reported better-than-expected earnings Thursday and its first quarter in years with more money flowing into its mutual funds than being withdrawn.
The Baltimore-based money manager posted a $47.8 million profit in the quarter April...
| Feb 5, 2013
| 12:40 PM
The Justice Department is accusing Standard & Poor's of defrauding investors with optimistic ratings of mortgage-backed securities and derivatives prior to the financial crisis. While investors are entitled to answers about those conflicts, compensation...
| Sep 26, 2012
After what was easily the longest economic downturn in recent times, momentum is building and national headlines are trumpeting news of economic gains. In the residential housing sector, these swiftly-changing market dynamics...
| Sep 18, 2012
| 3:00 AM
A wild windstorm swept through the nation's capital on Saturday, tossing broken tree limbs, downing power lines and forcing thousands of suburbanites to eat dinner by candlelight. On Sunday, with the skies sunny and mostly clear, the oppressive heat...
| Aug 12, 2012
Here we are less than six months away from the "fiscal cliff" and Congress shows little sign of pulling the country back from the brink.
The fiscal cliff is the result of the Bush-era tax cuts expiring at year's end combined with $1.2 trillion in...
| Jan 13, 2013
| 9:29 PM
When Bank of America credit officer Dan Petrik and his team sat down in early 2007 to analyze Sam Zell's plan to take control of Tribune Co., their numbers showed that the complex deal failed to meet five of the bank's 10 lending guidelines.
| Jun 26, 2013
| 5:44 PM
The city-owned Hilton Baltimore lost nearly $11.2 million in 2012 — a slight improvement from a year earlier, according to an audit to be presented to the city's Board of Estimates next week.
Because of mounting losses, the city was forced to...
| Jun 26, 2013
| 6:38 PM
The $1 billion Harbor Point development would reap a profit of $124 million for its investors without government financing to pay for its infrastructure, according to recently released city documents.
That may seem like a huge payoff, but it's not...
| Jan 16, 2013
| 11:51 AM
Gov. Martin O'Malley unveiled Wednesday a budget that is "on the verge" of closing a budget gap that once stood at $2 billion.
The governor emphasized the more than 40,000 jobs he expected his $37 billion operating and $3.7 billion capital budget to...
| Jun 17, 2013
| 2:29 PM
Credit rating house Standard & Poor has assigned Anne Arundel County's bonds a AAA rating and upgraded its assessment of the county's fiscal outlook from "negative" to "stable," officials announced Monday.
Moody's, another credit rating house, gave...
| Jun 15, 2013
| 1:15 PM
The Maryland Economic Development Corp. expects to fall short next year on payments to investors who bought the bonds that funded the Hyatt Regency Chesapeake Bay, a state-owned golf resort hotel and conference center on the Eastern Shore.