Friday, March 12, 2010
   
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Lawmakers reject 'green' investment for state pensions, put off dealing with liability Delegates killed a measure Thursday that would have forced the state employee pension system to invest in “green” or life science ventures. But they put off action – probably until next year – on measures that would begin to make up Maryland’s $17 billion unfunded liability for future pensions.
Budget leaders skeptical about GOP spending cuts House budget chiefs reacted skeptically to Republican proposals to cut $800 million from next year’s budget at a work session Wednesday, asking GOP leaders for more specifics about how they would lay off 1,500 state and university workers.
Baltimore may face more cuts to highway funding Lawmakers are seriously considering a $30 million reduction to Baltimore City’s share of the state aid that local jurisdictions share for road maintenance. But city legislators are prepared to fight the staff proposal to redistribute that money to the state’s 23 other jurisdictions.
Catapult Technology outgrows small business label For many small businesses, the SBA’s 8(a) program is both a blessing and a curse. Launched in 1974 to help disadvantaged entrepreneurs have a shot at lucrative government contracts, the Small Business Administration initiative is only truly successful when a company outgrows it.

When Catapult Technology graduates from the 8(a) program this month, it will be well-positioned for “full and open” competition

Breaking News

Novavax reports fourth quarter and 2009 year-end financial results

March 12, 2010— Novavax, Inc. announced financial results today for the fourth quarter and year ended December 31, 2009. Read more... Link  

O'Malley seeks federal jobs funding

By Graham Moomaw — Gov. Martin O'Malley asked Maryland's congressional delegation Thursday to devote unused federal money to spur small business lending and create jobs in the state, where unemployment remains at 7.5 percent despite more than $4 billion in stimulus funding.

Money returned from the Troubled Asset Relief Program should be used to guarantee small business lending, O'Malley suggested.

"If you could make it possible for us to access those dollars, to be repaid to the federal government, it would allow us to leverage on a one-to-six basis, the sort of small business lending that could be going on to create jobs and improve the business climate in our state."

The appeal came as O'Malley brought his Cabinet to Capitol Hill Thursday to lay out his administration's federal funding priorities for fiscal 2011, which begins July 1.

The event was organized by Sen. Barbara Mikulski, and every Marylander in Congress attended except for Rep. Elijah Cummings, D-Baltimore, who was attending a White House meeting.

O'Malley presented the delegation with an agenda focused on job creation, transportation infrastructure and public safety. Federal dollars are expected to be harder to come by due to the federal spending freeze proposed by President Obama, which would begin on Oct. 1.

Read more: O'Malley seeks federal jobs funding

 
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Corridor News

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DJS halts high-security placements at Waxter

DJS halts high-security placements at Waxter

By Shauna Miller — The condition of the Thomas J.S. Waxter Center for female juvenile offenders is so bad that Department of Juvenile Services Secretary Donald DeVore told Capital News Service during a tour Thursday that the facility recently stopped accepting girls into its high-security program.

Also Thursday, several girls who have lived at Waxter reported through the American Civil...

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Bill would improve Maryland's "cushion" against future recessions

By Brady Holt — Maryland needs to strengthen its "rainy day" reserve fund to prepare for future budget crises, a state senator testified Wednesday at the Senate Budget and Taxation Committee.

Sen. Jim Rosapepe, D-Prince George's, was speaking in support of his bill that would divert unexpected budget surpluses — extra money that the state's analysts had not projected — into the rainy...

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Alcohol tax pits supporters against liquor industry

By Rachel Leven — Supporters of a dime-a-drink tax told a Senate committee Wednesday they need the fee in order to provide essential funds for mental health, disabilities and substance abuse programs to Marylanders. But opponents claimed the alcohol tax would deprive retailers of their livelihood in the midst of an economic recession.

The Lorraine Sheehan Health and Community Services...

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Five-cent bag tax would go towards cleaning bay

By Adam Kerlin — The General Assembly has been reluctant to raise taxes in an election year, but 39 legislators across both chambers are cosponsoring an act that would place a 5-cent tax on disposable carryout bags.

The Chesapeake Bay Restoration Consumer Retail Choice Act would require Maryland businesses to tack the 5-cent fee onto each disposable bag used by a customer. Businesses...

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Corridor Colleagues

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Laura Willoughby appointed regional director for BENS

March 11, 2010 — Business Executives for National Security (BENS) has selected Laura Willoughby as its Washington, D.C., Metro Area regional director. Willoughby most recently served as director of marketing communications at iJET Intelligent Risk Systems, an Annapolis-based global intelligence company.  She was previously executive director of the Chesapeake Regional Technology Council (Anne Arundel...

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RCM&D Senior Vice President dubbed "Power Broker" by Risk & Insurance Magazine

RCM&D Senior Vice President dubbed "Power Broker" by Risk & Insurance Magazine

March 11, 2010 — Risk & Insurance Magazine, a publication focusing on the risk management industry, has named Harry C. Wallace of Riggs, Counselman, Michaels & Downes, Inc. (RCM&D) as a Power Broker in  their annual list of the most influential commercial insurance brokers. Wallace currently serves as  senior vice president and Life Science practice leader with RCM&D. Prior to that,...

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Dennis Wraase joins U-Md. Center for Social Value Creation as Executive-In-Residence

March 11, 2010 — The University of Maryland's Robert H. Smith School of Business announced former Pepco Holdings Inc. president, board chair and CEO Dennis R. Wraase has joined the Center for Social Value Creation as its first executive-in-residence. Wraase will support the center's mission to engage students in courses and experiential learning programs, enabling them to become global leaders who...

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Corridor Breaking News

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Emergent BioSolutions Chairman and CEO Fuad El-Hibri recognized as outstanding international business leader

March 12, 2010— Emergent BioSolutions Inc. announced today that Fuad El-Hibri, its chairman and chief executive officer, has been named by the World Trade Center Institute (WTCI) as one of Maryland's outstanding international business leaders.

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Novavax reports fourth quarter and 2009 year-end financial results

March 12, 2010— Novavax, Inc. announced financial results today for the fourth quarter and year ended December 31, 2009.

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GenVec down $18.4M for 2009

March 12, 2010 — Gaithersburg-based GenVec, Inc. (Nasdaq: GNVC) reported a net loss of $18.4 million, or $0.19 per share for the year's end, compared with a net loss of $26.1 million, or $0.31 per share for the year ended December 31, 2008. GenVec ended the year with $11 million in cash and total investments.

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Latest Events

"Coffee Connections"
March 12, 2010(9:00 AM) - March 13, 2010 (11:00 AM)

Location: Sheraton Washington North, 4095 Powder Mill Road, Beltsville, MD 20705.


Join the Prince George's Chamber of Commerce for this MEMBERS ONLY Networking Opportunity!

Enjoy the beautiful Sheraton Washington North and a delicious full course...

9th Annual CCBC Women’s Expo
March 13, 2010(11:00 AM) - March 15, 2010 (5:00 PM)

CCBC Women’s Expo Means Business

Hosted by: CCBC Catonsville

Baltimore County, Md. – It’s all about business – especially women in business – at the 9th Annual CCBC Women’s Expo. The two-day event, featuring speakers, workshops and exhibitors, will be...

Community College of Baltimore County women's business expo
March 13, 2010 (11:00 AM - 5:00 PM)

Community College of Baltimore County women's business expo, 11 a.m.-5 p.m., through March 14,

Location: 800 S. Rolling Road, Catonsville.

Cost: $6.

Information: www.ccbcwomensexpo.com.

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