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Bill Miller will buy out Legg's share of their jointly owned LMM, which oversees funds with $1.8 billion in assets under management.

By Sarah Gantz

Aug 11, 2016

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.

Scores of Carroll County residents achieve Carroll Community College's spring semester dean's list

Research labs closed by pharmaceutical giant Pfizer dot the country. Maryland officials don't want the state to join that list, so Pfizer's proposal to buy AstraZeneca — which employs 3,100 in the state — has prompted local angst.

Baltimore money manager T. Rowe Price said Thursday that net income rose nearly 26 percent in the first three months of the year, compared with a year earlier, as revenue from investment advisory fees grew by more than $120 million.

Sysco Corp will buy US Foods Inc., a former Columbia-based company, for about $3.5 billion from its private equity owners in a deal that will combine the top two U.S. food distributors and create a company commanding at least a quarter of the $235 billion North American market.

Holiday party tips

Taymour Tamaddon discusses his first six months after becoming manager of Price's Health Sciences Fund.

John H. "Jack" Laporte, a longtime T. Rowe Price portfolio manager, philanthropist and one of the minority owners of the Orioles, died Aug. 12 of lymphoma at his Ruxton home. He was 68.

Famed money manager Bill Miller's fund is once again beating the market, but analysts say its too early to know whether he's made a comeback.

Event planner, interior designer Stephanie Bradshaw grows Baltimore business

Take a look at the brochures for most wedding venues and, chances are, you¿ll see the traditional bride and groom. But not at the Four Seasons, located in Baltimore¿s Harbor East neighborhood. The four-star luxury hotel has some new brochures that include same-sex couples.

With a shareholder vote just days away, T. Rowe Price, one of Dell Inc.'s major investors, reaffirmed its opposition to a $24.4 billion buyout offer for the personal computer manufacturer.

The Legg Mason Capital Management Value Trust fund is doing something not seen in years — beating the stock market.

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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.

T. Rowe Price has a reputation as a place where portfolio managers can spend their entire careers. But during 12 weeks this year, three fund managers left the Baltimore-based investment company or announced plans to do so.

Mayo A. Shattuck III, who helped sell two Baltimore institutions to out-of-state concerns and ran the region's energy firm for a volatile decade, has retired from the parent company of Baltimore Gas and Electric Co.

Legg Mason Inc.'s stock, which struggles to recover from the financial crisis of 2008, hit a new 52-week high last week.

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.

Legg Mason Inc. reported Friday that it lost $453.9 million in the third quarter due to a previously announced noncash charge of $734 million related to the re-evaluation of certain assets.

Legg Mason Inc. plans to lay off an undisclosed number of employees as it folds its once high-profile Legg Mason Capital Management unit in Baltimore into a much larger investment division based in New York.

Baltimore-based money managers T. Rowe Price and Legg Mason Inc. may offer actively managed exchange-traded funds after receiving a thumbs up from regulators.

Investment outlook for 2013

Morningstar rates the best 529 plans, with T. Rowe Price-managed plans taking home gold

Baltimore-based Legg Mason is losing a CEO, but what's next?

Baltimore money managers T. Rowe Price and Legg Mason say that they both have low levels of exposure to the eurozone – and that they're not pulling back from the region.

Constellation Energy Group's three Maryland coal-fired plants are to be sold by the end of the year.

Columnist Marta Mossburg's advocacy for outsourcing management of Maryland's pension system fails when all the facts are considered.

Dividends, once out of favor, are now a hot item, with Apple joining dividend payers this summer.

Baltimore's T. Rowe Price is a significant investor in Facebook

Investment outlook for 2012: Continued volatility, but brighter predictions for U.S. stocks

Dr. Peter Pronovost heads up effort to unify a fragmented system that puts patients at risk

Morningstar ranks Maryland's 529 plan as one of the best

A bicyclist was struck and killed by a vehicle in Millersville, while a police officer was injured in a separate car accident Friday night, Anne Arundel County police said.

Maryland's ratepayer advocate is objecting to Exelon Corp.'s proposed buyout of Constellation Energy Group, telling federal regulators that the combined company would have too much control of electricity prices on the grid that serves much of the Mid-Atlantic region.

Constellation Energy Group CEO Mayo A. Shattuck III and other top executives of the Baltimore company are eligible to receive more than $36 million in cash severance and previously-owned incentive awards if the proposed merger with Chicago-based Exelon Corp. is successful.