Legg Mason agrees to Citigroup swap
Legg Mason Inc. agreed to trade its brokerage for the asset-management business of financial giant Citigroup Inc. in a $3.7 billion deal that transforms the Baltimore-based company into the fifth-largest money manager in the nation, with global reach and greater access to investors.
More Md. schools meet standards
The number of elementary and middle schools that failed to meet state standards in reading and math decreased slightly this year, from 179 last year to 173 this year. Most of the schools are in Baltimore City and Prince George's County, according to data released by state officials.
Hotel plan questioned
In a heated hearing that lasted more than eight hours, City Council members grilled proponents of a plan to build a publicly financed convention center hotel in Baltimore. Meanwhile, the Abell Foundation released a report questioning the need for the hotel.
Marconi's put on hiatus
Marconi's, the 85-year-old downtown restaurant where courtly, tuxedo-attired waiters offered such signature dishes as "Sweetbreads Sarah Bernhardt" and "Lobster Cardinale," has been shut down "for the summer" by its owner, Peter G. Angelos, who assures that the closing will not be permanent.
Bush hails nuclear energy
President Bush, in a speech at the Calvert Cliffs Nuclear Power Plant, called for the construction of more nuclear reactors to help meet the nation's growing demand for electricity.
Guilty plea in Charles Co. fires
A security guard angry at his employer for denying him bereavement leave when his infant son died and envious of the wealthy residents moving into an upscale Charles County housing development pleaded guilty to conspiring to set fires that resulted in $10 million in damage.
Getting tough on student rioters
University System of Maryland officials proposed a tougher policy for rioting-related crimes after sporting events, permitting the expulsion of students who receive probation before judgment on such charges.
Slain soldier buried at Arlington
Sgt. 1st Class Neil Armstrong Prince was buried at Arlington National Cemetery. The 35-year-old City College graduate was killed June 11 by a roadside bomb in Iraq.
Health care and immigrants
The Ehrlich administration has begun notifying thousands of low-income legal immigrants that their health benefits will be eliminated when the next state budget year begins July 1. State health officials pledged to help local agencies find ways to provide health coverage to those affected.
Asbestos program overhaul
Maryland's program for dealing with asbestos-related claims is designed to provide the most help to the sickest people and has a settlement rate of about 90 percent. But legislation with bipartisan support in Congress would scrap it - and all individual state programs - in favor of a national effort that would bar victims' access to the courts.
Some Chapman charges dropped
Nathan A. Chapman Jr., who was convicted last summer of defrauding the state's pension system, agreed to pay $215,000 in exchange for prosecutors dropping the remaining bank-fraud charges against him. It is unclear how he will pay the debt.