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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. There was...
For the last dozen years, Vince Talbert has focused on one thing: Bill Me Later. The 45-year-old Baltimore native co-founded the online payment company with three partners in 2000. The company helps Internet shoppers buy stuff online without a credit...
Somewhere in the third year of Tribune Co.'s marathon Chapter 11 proceeding, U.S. Bankruptcy Judge Kevin Carey looked out at a Delaware courtroom packed with high-priced attorneys and conceded the case had broken down into what he called a...
TARP, the infamous Troubled Assets Relief Program that bailed out Wall Street in 2008, is finally over. The Treasury Department recently announced it will soon be completing the sale of the remaining shares it owns of the banks and of General Motors....
Citigroup announced this morning it would lay off 11,000 employees — about 4 percent of its workforce — to save money. A Citi spokesman said the layoffs are expected to have little impact in Maryland, where the company employs 3,600 workers....
News that Citigroup is foreclosing on developer Patrick Turner's Westport Waterfront property did not alarm Keisha Allen, the leader of the Westport Neighborhood Association. "To the average person, it looks like everything in Westport is tied up with...
Tags: Property, Annapolis, Patapsco, Patrick Turner, Real Estate
Citigroup Global Markets Realty Corp. has filed a foreclosure case against the development group that was planning to revitalize the waterfront in Baltimore's Westport community. Companies affiliated with developer Patrick Turner borrowed $30 million...
Tags: Patrick Turner, Patapsco
Aside from the business suit he was wearing, which he joked was rented for the occasion, Sam Zell was never more himself than when he appeared at a New York lender conference in April 2007 to hawk his $8.2 billion buyout of Tribune Co. Slinging one-...
Tags: Jimmy Lee, Marketing, Tribune Tower, Realty, Banking
Just when you thought Wall Street couldn't sink any lower -- when its excesses are still causing hardship to millions of Americans and its myriad abuses of public trust have already spread a miasma of cynicism over the entire economic system -- an even...
Not even being arrested on federal fraud charges and placed under strict house arrest could keep Amiee Arora from cooking up new schemes. The Washington man pleaded guilty Tuesday to a pair of plots — including one that netted him and a partner...
Delmar Bancorp has no regrets about taking a $9 million investment from the federal Troubled Asset Relief Program, even though some banks have rushed for the exit. "We did it as an abundance of caution," said Ed Thomas, president of the parent of Bank of...
Tags: Annapolis, Delmar Bancorp, Finance, Banking, Auction Service
Corporate-sponsored groups have launched a campaign of litigation in the lower federal courts challenging the legality of the second major piece of President Barack Obama's legislative program, one that received a lot of attention in last week's first...
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