Casual political observers often focus on Africa's natural resources, mineral wealth and conflicts as a strategic concern, but Africa is a massive and rapidly growing consumer market that is more fully appreciated by strategic investors with each passing day.
Standard & Poor's raised Baltimore's bond rating to its highest level in years — a move that reflects growing confidence in the city's fiscal health and will lead to potentially millions of dollars in savings for the city's budget.
Instead of clearing title, promoting reinvestment, and furthering productive reuse, the speculation in the tax sale system furthers a vicious cycle of vacancy and abandonment. These vacant, abandoned properties become harbingers of crime, fire, trash and further disinvestment.
Maryland kept its coveted AAA bond rating this week, an accomplishment that allows it to continue borrowing cash more cheaply than most states. Gov. Martin O'Malley heralded the rating from New York bond agencies Tuesday as proof of his sound fiscal stewardship of Maryland.
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.
A historic YMCA in Mount Vernon, once home to confessed Soviet spy Whittaker Chambers and a hotel run by the former Baltimore International Culinary college, is to become a 197-room Hotel Indigo, one of the new owners said.
Treasurer Nancy K. Kopp and Comptroller Peter Franchot warned senators Wednesday that Gov. Martin O'Malley's proposal to divert $100 million a year from the state pension fund to next year's budget threatens the long-term health of the retirement system.
The state pension system is Maryland's financial Achilles heel. All bond rating services have noted that rising pension debt endangers the AAA bond rating, and the Pew Center on the States rates Maryland as one of the 10 most under-funded states. Perhaps it's time for Nancy Kopp to step down.
Edward Joseph "Ned" McNeal Sr., who served in the General Assembly and who later headed the Credit Bureau of Baltimore, died at Sinai Hospital Wednesday after suffering a fall at his home. The Timonium resident was 86.
Carroll County received positive credit ratings, including one upgrade, from bond rating agencies after the county's annual bond review in New York. Carroll received a AAA rating, the highest possible, from both Fitch Services and Standard and Poor's Rating Service. The county received a Aa1 rating from Moody's Investor Services.
Six months after Baltimore pulled its speed and red light cameras offline because of mistakes, officials say the city's vendor still isn't ready to begin issuing tickets — and no one can say when the program will resume.
The University of Maryland Medical System has set aside tens of millions of dollars because of complex financial transactions related to interest rates that have not paid off — yet. The medical system cannot use those funds even as it wrestles with financial pressures that have led to layoffs, but defends its use of the interest rate swaps.
After hearing from scores of citizens opposed to the deal, a Baltimore City Council committee approved a plan Wednesday night to give millions in taxpayer assistance to the $1.8 billion Harbor Point development.
Baltimore officials say Detroit's bankruptcy filing this week is a cautionary tale for the city, and underscores the need to fix the city's $750 million structural deficit — before the situation here grows similarly dire.