Business - baltimoresun.com

Report: Warren Buffett eyes more newspapers

Thu, 24 May 2012 18:55:07 GMT

(Reuters) - Warren Buffett's Berkshire Hathaway Inc is eyeing more newspapers, according to a memo posted on Jim Romenesko's media website. http://tinyurl.com/7odreje

Report: Baltimore one of the best cities for recent grads

By Steve Kilar, The Baltimore Sun — Thu, 24 May 2012 18:41:00 GMT

Report uses job inventory, average entry salary and average rent

Baltimore is a good place for recent college graduates to settle down, according to a report released Thursday by major job- and apartment-hunting websites.

Sparrows Point mill to close in June; 1,975 workers to lose jobs

By Hanah Cho , The Baltimore Sun — Thu, 24 May 2012 18:39:00 GMT

Company will lay off 1,975 as it explores sale of the Baltimore County plant and other assets

The owner of the financially ailing Sparrows Point steel plant is idling operations there, warning 1,975 workers Thursday that they will be laid off starting next month. For years the plant has faced imminent closure before last-minute deals salvaged the mill. RG Steel is the latest owner to try to sustain steel production at the once-flourishing mill.

Eurozone governments ponder Greek exit contingency

Giuseppe Fonte and Eero Vassinen — Thu, 24 May 2012 15:58:02 GMT

ROME/HELSINKI (Reuters) - At least half of euro zone governments as well as banks and large companies are making contingency plans in case Greece decides to leave the single currency area, even though the preferred option is still for Athens to keep the euro.

Facebook and banks are sued over pre-IPO analyst calls

Thu, 24 May 2012 14:34:03 GMT

Facebook Inc. and lead underwriter Morgan Stanley were sued by shareholders who claimed they hid the social networking company's weakened growth forecasts ahead of its $16 billion initial public offering last week.

Rolling geek tweetup gets temporarily delayed by broken-down train

Gus G. Sentementes — Thu, 24 May 2012 13:17:00 GMT

Today is a big day for Baltimore (and East Coast) geekdom. It's Geeks on a Train : a rolling tweetup that started in Washington DC this morning, with a denizen of DC techies and entrepreneurs boarding an Amtrak train. The itinerary: stop at Baltimore and other major stops along the East Coast Amtrak corridor and connect with geeks and techies in other cities, all the way up to Boston.

Real Estate Wonk: More renters 'burdened' by home, utility costs

Yvonne Wenger — Thu, 24 May 2012 10:00:00 GMT

Feeling overburdened by your utility bills pared with your monthly rent? Join the growing ranks of Americans and Baltimoreans.

Mikulski plan for women's pay gets new push

By John Fritze, The Baltimore Sun — Wed, 23 May 2012 23:33:00 GMT

Democrats seek added protections in election year

Democrats seek added protections in election year

Court rules against Cordish Cos. on properties' value

By Steve Kilar, The Baltimore Sun — Wed, 23 May 2012 23:11:26 GMT

Developer argued the Inner Harbor properties are worth far less

Maryland's high court ruled Wednesday that the Cordish Cos.' Power Plant and Pier IV buildings on Baltimore's Inner Harbor are worth, for property tax purposes, more than $38.1 million — the amount established by city tax assessors.

Urbanite magazine seeks investor to expand digital platform

By Gus G. Sentementes , The Baltimore Sun — Wed, 23 May 2012 22:06:00 GMT

Publisher says monthly is not for sale or going out of business

The publisher of the Urbanite, a free monthly magazine focused on Baltimore urban affairs, said Wednesday she was seeking an investor to help the publication expand its digital media offerings.

HP to lay off 27,000 workers -- equal to population of Crofton

Gus G. Sentementes — Wed, 23 May 2012 21:00:00 GMT

Depressing news coming out of California today: computer and printer giant HP announced a big restructuring plan that involves it saying goodbye to 27,000 workers, or 8 percent of its 325,000 global workforce , the company said .

Eurozone looks at Greek exit as leaders meet

Jan Strupczewski and Claire Davenport — Wed, 23 May 2012 20:49:03 GMT

BRUSSELS (Reuters) - European leaders, at odds over how to resolve the deepening crisis in the euro zone on Wednesday, have been advised by senior officials to prepare contingency plans in case Greece quits the single currency area.

HP to lay off about 27,000, eyes over $3 billion savings

Wed, 23 May 2012 20:31:03 GMT

SAN FRANCISCO (Reuters) - Hewlett Packard Co outlined a plan on Wednesday to lay off roughly 27,000 employees or about 8 percent of its workforce to jumpstart growth.

Obama orders agencies to shift services to mobile apps

Wed, 23 May 2012 20:22:03 GMT

WASHINGTON (Reuters) - President Barack Obama, hoping to spur U.S. innovation in the explosive field of mobile communications, on Wednesday ordered all major federal agencies to make many more of their services available on mobile phones within the next year.

Jury: Google did not infringe Oracle patents

Dan Levine — Wed, 23 May 2012 20:14:03 GMT

SAN FRANCISCO (Reuters) - Google Inc's Android mobile platform has not infringed Oracle Corp's patents, a California jury decided, putting an indefinite hold on Oracle's quest for damages in a legal fight between the two Silicon Valley giants over smartphone technology.

City-owned Hilton Baltimore lost $11.5M last year

By Steve Kilar, The Baltimore Sun — Wed, 23 May 2012 17:28:00 GMT

$300 million taxpayer-funded hotel also lost $11 million in 2010

$300 million publicly funded hotel also lost $11 million in 2010

Presidential campaigns duke it out with software apps for volunteers

Gus G. Sentementes — Wed, 23 May 2012 16:39:00 GMT

The Obama presidential campaign is debuting its latest online campaign organizing tool for the 2012 election, one that is expected to be use by volunteers across the country to connect with voters.

GSK to drop Human Genome bid if 'poison pill' stands

Wed, 23 May 2012 15:10:07 GMT

LONDON (Reuters) - GlaxoSmithKline said it would not proceed with its $2.6 billion offer for Human Genome Sciences unless the U.S. biotechnology company dropped a "poison pill" shareholder rights plan imposed to block the deal.

Maryland offers tax relief on debt forgiveness

Eileen Ambrose — Wed, 23 May 2012 15:00:00 GMT

For a long time, you had to pay income tax on debt that your mortgage lender forgave. During the height of the housing crisis, the federal government offered a reprieve — it stopped collecting income tax on up to $2 million of forgiven mortgage debt on a primary residence.

CFPB takes first step toward regulating prepaid cards

Eileen Ambrose — Wed, 23 May 2012 11:00:00 GMT

Prepaid debit cards have been called the Wild West because of their rapid growth, uncontrollable fees and little regulation.

Regulators looking into Morgan Stanley role in Facebook IPO

Andrew Longstreth — Wed, 23 May 2012 10:53:00 GMT

NEW YORK (Reuters) - As regulators scrutinize Facebook's problem-plagued stock market debut, they may have to confront areas of securities law that do not always clearly spell out what industry analysts are allowed to tell clients about companies on the verge of going public.

Cummings: Stemming foreclosure and foreclosure abuse is key priority

Jamie Smith Hopkins — Wed, 23 May 2012 10:00:00 GMT

Congressman's amendment giving service members more foreclosure protections gets 394-27 vote in House

Foreclosure protections would expand for service members, their widowed spouses and certain disabled veterans under an amendment that overwhelmingly passed the House last week.

Smart meter opponents make their case to Maryland regulators

By Hanah Cho , The Baltimore Sun — Tue, 22 May 2012 22:27:51 GMT

Ratepayers tell PSC they want option to say 'no' to new digital, wireless devices

Smart meter opponents asked state regulators at a hearing to allow ratepayers to say "no" to new digital, wireless devices because of safety, privacy and security concerns. Above, smart meters that BGE plans to install.

Public offering under way on Stronach horse companies

By Hanah Cho , The Baltimore Sun — Tue, 22 May 2012 21:33:00 GMT

At $10 per share, investors can own a piece of a thoroughbred

Marylanders interested in owning thoroughbred horses can purchase shares in six racing investment companies founded by Frank Stronach, the owner of Laurel Park and Pimlico Race Course .

The Best of Luck Candy & Gifts moving to Power Plant

Lorraine Mirabella — Tue, 22 May 2012 19:19:00 GMT

Candy retailer The Best of Luck Candy & Gifts has moved to larger quarters at Power Plant in downtown Baltimore, next to Phillips Seafood.