Legg Mason plans to close a deal to restructure $650 million in debt this month, a move designed to lock in favorable interest rates for the long term while taking advantage of the market's sustained appetite for corporate bonds.
The city-owned Hilton Baltimore spent nearly all of the $2.8 million in hotel occupancy taxes the city set aside last year to help the struggling convention center hotel make its debt payments, officials said.
Quite simply, County Executive Craig must live up to his small government mantra by first holding himself accountable for reducing unnecessary increases and irresponsible expenditures in the departments which he currently manages.
City officials on Monday will consider issuing $35 million in bonds for the massive Harbor Point development — among the final steps before construction can begin on the $1.8 billion waterfront project. Some are urging the board not to approve the financing until all environmental concerns associated with the former chemical plant site are alleviated.
Towson political and business leaders lack direction, will, and incentive to preserve open space. Why not raise the tax rate a few cents to build a fund to buy land that could be set aside as open space? How about a bond issue to finance the acquisition of open space? Bond issues give the citizens the right to vote whether we are willing to pay to preserve open land.
New Harford County Public Schools Superintendent Ray Keech had been on the job not even two weeks 25 years ago this week and already he was butting heads with Harford County Executive Habern Freeman. The two were having a back and forth about the need for new schools
Baltimore officials are reviewing ways to improve the finances of the city's money-losing convention center hotel as they brace for the likelihood that they will be forced to dip into the city's general fund to cover debt payments next year.
A failure to make bond payments may influence investors' scrutiny of MEDCO, a company created by the General Assembly to aid economic development through Maryland, it will not affect the state's credit rating, experts say.
Baltimore's two major fund companies have joined a small but growing number of investment firms offering ultra short-term bond funds, which may become an alternative to the traditional money market fund.
A bill to finance $1 billion in school construction in Baltimore won approval through the efforts of many people, including a General Assembly leader who wanted to support his members as well as his hometown.
An ambitious, $2.6 million plan to renovate the Havre de Grace opera house on Union Avenue would include joining the former city hall building with the neighboring firehouse, installing a first floor theater and making the entire building accessible to handicapped people.
Joseph A. Sullivan, who has served as interim leader of Legg Mason Inc. for more than four months, has been named CEO and president of the Baltimore-based money manager, the company announced this morning.
Baltimore County Executive Kevin Kamenetz wants to borrow $255 million and repay it over the next 30 years to help fund the county's retirement system, a move that would carry risk but that the administration says could benefit taxpayers in the long run.
The Board of County Commissioners last week approved enrollment in the Maryland Department of Housing and Community Development's "On Behalf of Local Governments" housing program, designed to aid first-time home buyers.
After sinking millions of dollars into the dream of a world-class tourist destination in the mountains of Western Maryland, the state is poised to cut its losses and turn the Rocky Gap hotel and conference center over to a private company that will open a casino at the lakeside resort.
Harford County's good credit rating and competent fiscal management means there will be money available for several public works projects at a time when employment resulting from such projects is sorely needed. Just think how much better off we would be as a nation if the federal government could do the same thing.