Biz Roundup

Magna Parent Proposes Transit-Oriented Development Adjoining Laurel Park
MI Developments (MID) of Aurora, Ontario, has announced its intention to develop a 64-acre parcel of land in Howard County that adjoins the Laurel Park. MID acquired the parcel from its subsidiary Magna Entertainment Corp. during a liquidation of excess Magna property in 2007.
Initial plans for the parcel were presented during a public pre-submission meeting in Savage by Walter Lynch AIA, a Washington-based consulting firm that has served as a development partner for previous Magna projects.
Jeff Hayes, development manager for Lynch, said initial plans for the property include 650,000 square feet of office space to be built above 120,000 square feet of retail space, in addition to 775 residential units. MID is expected to submit a site plan to the county by the end of this calendar year for the project, which is tentatively named Laurel Park Station.
"[It will be] a smart-growth community unto itself," Hayes said, noting that the Laurel Park MARC station collocated on the property makes it well suited to address the state's push for more transit-oriented development.
Property owners envision "a destination that would encourage people to get out of their cars [and] walk around," Hayes said, adding that they also hope the project will stimulate more revitalization activity along the U.S. 1 corridor in Howard County.

ECP Adds Support to Clean
Energy Effort
Columbia-based Enterprise Community Partners (ECP), a Columbia-based provider of capital for affordable housing and development, has joined forces with 24 of the nation's most influential architectural, engineering and development firms to urge Congress to write steep energy and emissions reduction targets into the American Clean Energy Leadership Act of 2009.
This combined effort, spearheaded by Architecture 2030, a nonprofit research organization, represents some $100 billion in building construction annually.
Dana Bourland, Enterprise's vice president of green initiatives, added her signature to letters addressed to the U.S. Senate, in which firm leaders stress that buildings and their energy use account for approximately half of the energy and greenhouse gas emissions and 75% of electricity consumption in the United States. The letter also stated that, if the U.S. is to have any hope of getting its energy consumption and greenhouse gas emissions under control, it must begin seriously addressing its building sector. The letters were delivered to the U.S. Senate.

Constellation Energy-EDF Nuclear Joint Venture Receives Approval
Constellation Energy, headquartered in Baltimore, and EDF Development, a U.S. subsidiary of ƒlectricitŽ de France, have announced that the U.S. Nuclear Regulatory Commission (NRC) has approved the investment structure and license transfer related to EDF's investment in Constellation Energy Nuclear Group.
In a joint statement, the companies said EDF's acquisition of a 49.99% interest in Constellation Energy's nuclear assets has now received all necessary approvals at the federal level and clearance from the New York Public Service Commission.
"Completing this nuclear joint venture is critical to the proposed construction of a new nuclear unit at Constellation Energy's Calvert Cliffs Nuclear Power Plant, which would represent one of the largest industrial development projects in Maryland, creating 4,000 construction jobs, 400 permanent positions and enough new, clean energy to power 1.3 million homes," the statement said.
NRC approval of the nuclear joint venture follows prior approval from the Federal Energy Regulatory Commission and clearance from the Committee on Foreign Investment in the United States. The companies are continuing to cooperate with the Maryland Public Service Commission.

Ciena Signs Agreement to Purchase Ethernet Assets of Nortel Division
Linthicum-based Ciena Corp. has entered into agreements with Nortel, headquartered in Toronto, to purchase substantially all of the optical networking and carrier Ethernet assets of Nortel's Metro Ethernet Networks (MEN) business for $390 million in cash and 10 million shares of Ciena common stock.
The product and technology assets to be acquired include Nortel's long-haul optical transport portfolio; metro optical Ethernet switching and transport solutions; Ethernet transport, aggregation and switching technology; multiservice SONET/SDH product families; and network management software products.
The proposed transaction would strengthen Ciena's global presence and bring together complementary technologies in switching and transport that will offer customers a practical path for transitioning to automated, optical Ethernet-based networking.
"This is a unique and exciting opportunity for us to accelerate our existing strategy and the pace of our growth plans by two to three years," said Gary Smith, Ciena's CEO and president. "We believe this transaction will position us for faster growth by giving us greater geographic reach, broader customer relationships and a deeper portfolio of solutions."

Loyola's Sellinger School
Launches New MBA Program
Loyola University Maryland's Sellinger School of Business and Management has launched a new master of business administration program - a full-time, 12-month curriculum designed for exceptional students who have recently completed their undergraduate degrees.
The Emerging Leaders MBA (ELMBA) will welcome its first cohort class, which will be capped at 40 students, in August 2010. The small class size is an essential component of this highly interactive program. Applications will be due Feb. 1, 2010, with admission decisions to be made by March 15.
The 18-course, 46-credit program offers an integrated curriculum that blends traditional MBA coursework with significant experiential learning, including engagement with area businesses, business plan development, domestic and international field studies and live case consulting. The ELMBA will be offered at Loyola's Columbia Graduate Center.
Unlike the Sellinger School's existing MBA programs, which focus on working professionals with at least two years of experience, the Emerging Leaders MBA targets students enrolling directly from undergraduate programs as well as those with a year or more of work or service experience.

TCS Releases TCS People Locator
TeleCommunication Systems (TCS), a provider of mission-critical wireless communications, has announced the immediate availability of TCS People Locator, a new application that enables carriers to offer a high-demand Location-Based Service (LBS).
TCS People Locator provides consumers with the option to securely share their location with family and friends as well as access other location-based information such as points of interest.
A unique feature of TCS People Locator is the capability for consumers to create Geo-zones that alert them when a family member or friend has entered or exited a particular geographic area (e.g., school, home, nearby location). TCS People Locator enables parents to securely monitor the whereabouts of their children for safety, scheduling and other purposes. Consumers can also locate lost phones using the same application.
TCS People Locator provides consumers with the flexibility to manage location alerts via the mobile web or PC and to receive notifications based on personalized Geo-zones. In addition, consumers can create scheduled location alerts based on preset calendar requests.

UM Campuses Top $1B in
Research Funding
For the first time, the combined sponsored research funding for the University of Maryland, Baltimore (UMB) and the University of Maryland, College Park has topped $1 billion. The Baltimore campus reported $517 million for fiscal '09 while the College Park campus reported $518 million for the year.
UMB's growth was driven by strong increases in funding from the federal government, particularly the National Institutes of Health and the Centers for Disease Control and Prevention. By winning these competitive grants, UMB is expanding vital research programs, including infectious disease, oncology, genomics and stem cell research.
UMB's interdisciplinary centers, such as the Center for Vaccine Development, the Institute of Human Virology and the Institute for Genome Sciences, are increasingly successful in attracting funding. UMB also is expanding its global impact: International activities have increased by 400% during the past five years to more than $90 million in fiscal '09.
Despite the slow economy and tight federal funds for research, UMB showed significant growth, up from $450 million awarded to campus researchers in fiscal 2008.

First Mariner to Sell Mariner
Finance to MF Holdco
First Mariner Bancorp, headquartered in Baltimore, has reached an agreement to sell its consumer finance company subsidiary, Mariner Finance LLC, for approximately $10.5 million. The transaction is expected to close by Dec. 15.
The corporation entered into a Contribution and Joint Venture Agreement with MF Holdco LLC, a newly formed Delaware limited liability company sponsored by Milestone Partners, a middle market private equity firm headquartered in Pennsylvania. First Mariner will contribute all of its equity interest in Mariner Finance to MF Raven Holdings Inc., a newly-formed Delaware corporation, in exchange for 5% of that corporation's common stock, valued at $675,000, and approximately $9.825 million in cash.
Under terms of the agreement, approximately $8.775 million will be paid to First Mariner at closing. Also, an additional $1.05 million will be placed in an escrow account, with one-half of the funds distributed to First Mariner after the final determination of Mariner Finance's closing net assets, and the remainder distributed 18 months after the closing. The amounts distributed from escrow may be reduced to satisfy indemnification claims against First Mariner under the agreement.
The proceeds of the sale will be used to increase the capital reserves of First Mariner Bancorp's wholly owned First Mariner Bank. The bank consented to an FDIC order issued Sept. 18, to achieve and maintain a Tier 1 Leverage Capital ratio of at least 7.5% and a Total Risk-Based Capital ratio of at least 11% within the next nine months.

ARINC Unveils vMUSE Enterprise for Common-Use Check-In
Annapolis-based ARINC has introduced an airport check-in system that significantly reduces the cost of common-use passenger processing for today's airports.
The new system, vMUSE Enterprise, employs "thin client" design and virtual server technology to lower both the capital equipment and operational costs of common use. Unlike traditional common-use systems, ARINC's vMUSE Enterprise requires no costly computer servers or core room at the airport.
Because minimal processing is performed on-site, the system can be installed on desktop workstations, laptop computers or thin-client terminal hardware. The reduced on-site processing speeds passenger handling and minimizes system setup requirements.
All passenger data processing and airline connectivity is handled over a single high-speed network connection to a "virtual server," located in ARINC's global processing center.
"We have taken remote-server technology to the next level," said Mike Picco, ARINC vice president, Airport Systems Division. "By coupling virtual-server design with thin client hardware, we have significantly reduced the market entry point for a full-capability common-use system. The up-front costs for equipment and installation, as well as ongoing costs of operation and maintenance, are all reduced."

ERC Inks Agreement to
Sell to Redwood
Erickson Retirement Communities (ERC) has signed a definitive agreement with Redwood Capital Investments, an investment company controlled by Baltimore businessman Jim Davis, to be purchased by Redwood.
To complete the sale, Erickson must restructure its debt. As a result, the company filed a voluntary petition for Chapter 11 bankruptcy in U.S. Bankruptcy Court in Dallas. Given the nation's severe economic crisis, Erickson had been in discussions with its lenders in recent months to restructure that debt but, despite good faith negotiations with certain of its creditors, it was unable to reach an out-of-court agreement.
This voluntary action will enable ERC not only to restructure its debt, but also to reorganize its core management and real estate businesses into separate, yet commonly owned, legal and financial entities.
A separation of the management and development sides of the business means existing and future residents of its communities will be better protected from the volatility of the real estate development business, and allows for the resumption of building in developing communities as the economy improves.

Seguro Acquires Worldwide Rights to Hopkins Abdominal Surgery Device
Columbia-based Seguro Surgical, a medical device development company specializing in the commercialization of surgical instrumentation, has acquired the global marketing rights to a novel device for use in abdominal surgery from The Johns Hopkins University.
More than 2 million abdominal surgeries (laparotomies) are performed annually in the United States. Current practice utilizes cotton towels or sponges to reposition the bowel and allow access to the surgical area; this procedure is time consuming, presents potential safety risks to patients and can lead to post-operative complications.
Seguro's "Lap-Pak" is a flexible, one-piece device contoured to enable the rapid and secure re-positioning of the bowels to expose the surgical site.
"We believe that this elegantly simple device will improve the overall efficiency of laparotomies and generate substantial reductions in overall health care costs," said Dr. Steve Kubisen, Seguro president and CEO. "We are very excited to be working with Johns Hopkins and hope that this will be the first of many collaborative ventures that we undertake together."

TSA Targets $3.2M for Baggage Screening System Enhancements at BWI
The Transportation Security Administration (TSA) has awarded approximately $3.2 million to BWI Thurgood Marshall Airport for enhancements to optimize its baggage handling systems.
"This funding will enhance the safety and efficiency of the baggage screening process for transportation security officers who work in the checked baggage environment here in Baltimore," said TSA Federal Security Director James Schear. "We are continually looking for new ways to streamline the screening system while providing a high level of security."
The award, derived from fiscal 2009 funds, will provide upgrades to the existing baggage systems by adding conveyor lines and constructing new spaces to perform screening. TSA screens 100% of all passenger baggage using explosive detection systems prior to being placed on an aircraft.
Streamlining the baggage handling system facilitates this screening process. In addition, the enhancements made at BWI will create a safer system for security officers by reducing the need to lift heavy bags. More than 20 million passengers travel through BWI each year.

SunEdison to Be Acquired by MEMC for $200M, Plus Earnout
MEMC Electronic Materials, a leading provider of silicon wafers to the semiconductor and solar industries headquartered in Missouri, has reached a definitive agreement to acquire privately held SunEdison, of Beltsville, a developer of solar power projects and North America's largest solar energy services provider.
The agreement calls for $200 million to be paid at closing to SunEdison security holders, which will be paid 70% in cash and 30% in MEMC stock. The agreement also includes an earn-out provision, should SunEdison meet certain performance targets in 2010, of up to an additional $89 million, consisting of cash and stock.
In addition, the agreement calls for employee retention payments of $17 million in cash at closing, plus up to $34 million in stock which is subject to SunEdison meeting certain performance criteria and time vesting, the payment of certain transaction expenses and the assumption of net debt. The deal is expected to close by the end of 2009.