Employment standards office open
Three years after it was closed because of budget cuts, and two months after the scheduled reopening date, the Maryland Division of Labor and Industry has re-established the office that seeks to collect unpaid back wages for workers.
The office, called the Employment Standards Service, will investigate the claims of workers who believe their employers haven't paid wages due to them.
The new office is at 501 St. Paul St.; its phone number is 333-4534.
Chemical Bank plans cuts
Chemical Banking Corp. announced a sweeping plan yesterday to boost earnings, including cutting 3,700 jobs, selling operations in New Jersey and unloading almost $1 billion in troubled real estate loans.
The nation's fourth-largest banking company said the two-year plan would reduce expenses by $440 million. The bank will take a pre-tax charge of $260 million in the fourth quarter to cover severance and other costs.
Chemical shares, down 9.9 percent this year, closed up 25 cents yesterday, at $36.625.
Prince George's law firms to merge
O'Malley & Miles, the law firm founded by Peter O'Malley, the former head of the University of Maryland's Board of Regents, announced yesterday it will merge with Nylen & Gilmore Jan. 1.
The joined Prince George's County law firms will move to Calverton and will be known as O'Malley, Miles, Nylen & Gilmore.
It will have 23 lawyers. Mr. O'Malley, who was no longer managing the day-to-day operations of his firm, will remain of counsel to the merged firm.
Price official elected NASD governor
James S. Riepe, a managing director of T. Rowe Price Associates Inc., was elected governor-at-large of the National Association of Securities Dealers Inc., the primary regulator and trade association of the securities industry. Mr. Riepe, who heads Price's mutual fund, retail and institutional service divisions, will serve a three-year term with the NASD, starting in January.
FDA accepts Oncor application
Oncor Inc. said yesterday the U.S. Food and Drug Administration accepted its application for an in vitro diagnostic test for chronic myelogenous leukemia after an initial review.
The Gaithersburg-based developer of genetic testing products for use in diagnosing cancer and other genetic diseases said that its pre-market approval application for its CML Mbcr/abl genetic test system is subject to further FDA review.
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