Legg names Fetting CEO
After running one of Baltimore's leading companies for 38 years, Legg Mason Inc. patriarch Raymond A. "Chip" Mason handed over control to one of his top lieutenants, Mark R. Fetting. Mason, 71, will remain nonexecutive chairman.
Ex-SafeNet CFO going to jail
Carole D. Argo, a former chief financial officer at Harford County's SafeNet Inc., was sentenced to six months in prison by a Manhattan federal court judge for her role in manipulating a stock-option program. She pleaded guilty in October to one count of securities fraud.
CEG to sue over credits
Constellation Energy Group said Wednesday that it would sue the state to recover $386 million in credits it was forced to give utility customers, potentially adding about $3 a month to the average homeowner's bill. Constellation contends that the credits are unconstitutional.
First Mariner posts 4Q loss
Still feeling the effects of the mortgage meltdown, First Mariner Bancorp posted a fourth-quarter loss of $2.7 million. Pushing the quarter into minus territory were $3.9 million in losses - write-downs of assets in foreclosure and reserves for bad loans - related to mortgages.
Angelos suit dismissed
A lawsuit spearheaded by Orioles owner Peter G. Angelos challenging a key part of Baltimore's west-side redevelopment has been dismissed, eliminating the last legal obstacle at the trial court level to the stalled "superblock" project.