B u s i n e s s B r i e f s

Howard Bank Launches Howard Investments

Howard Bank recently launched Howard Investments, a division that offers access to comprehensive financial services including financial planning, asset management, investment advice and insurance products through a partnership with UVEST Financial Services.

The services range from traditional products such as mutual funds and term life insurance, to more sophisticated and customized advisory tools, including small business retirement plans, personal and foundation asset management tools, key man insurance, long-term care insurance and comprehensive financial planning.

"Howard Investments has been designed and created in an effort to enhance the services already available to Howard County businesses, owners and professionals as a means to improve their employee benefit programs, secure their business and personal futures and accumulate and manage wealth," said President and CEO Mary Ann Scully.



Sosa's Trade to Orioles Impacts

Tribune Co. Earnings

Tribune Co., the media conglomerate whose holdings include the Chicago Cubs Major League Baseball franchise, said in a regulatory filing that last month's trade of outfielder Sammy Sosa to the Baltimore Orioles will cause it to take a $13.5 million pretax charge in the first quarter.

Sosa was still owed $25 million on a $72-million multi-year contract when the Cubs dealt the slugger. Because controversy and declining production had diminished his trade value, the Cubs needed to send the Orioles $16.15 million in order to consummate the deal - causing the dip in first-quarter earnings.

The costly transaction merited a two-sentence mention in Tribune's 114-page annual report, filed with the Securities and Exchange Commission. The company, which typically mentions the baseball team only in passing in its filings and on conference calls with analysts, did not discuss the reason.



Howard County Readies for

Ghana Day 2005

The Howard County Economic Development Authority's (HCEDA) International Trade Center (ITC) has announced that Ghana Day 2005 will take place on April 26 from 8:30 a.m. to 12:30 p.m. at the Center for Business and Technology Development at 9250 Bendix Road North in Columbia.

Ghana is recognized as the gateway to a growing West African region and provides enormous economic potential for local companies wishing to develop international trade opportunities. The conference will include discussion of opportunities to operate or invest in Ghana, the identification of products, services and technologies appropriate for Ghana, with particular focus on tourism/reverse tourism and agribusiness.

In addition to Ambassador Fritz Kwabena Poku, Johnson Adasi, Minister Counselor Trade and Investment, and Ivor Agyeman-Duah, Minister Counselor Head of Public Affairs from the Embassy of the Republic of Ghana, guests will include Howard County Executive Jim Robey and local businesses/agencies experienced in international trade and investment.

The registrations must be received by April 22 and the conference fee is $25. For more information and to register, call 410-313-6550 or go to www.hceda.org/thecenter/events.html.



RAM Invites the Public to

Industry Awards Gala

The Restaurant Association of Maryland (RAM) will invite the general public to its Hospitality Industry Awards black-tie gala for the first time.

The gala is an annual event that recognizes outstanding hospitality industry leaders and establishments. Attending the event will be more than 700 hospitality professionals, as well as many other Maryland dignitaries. It will take place on April 21 at the Baltimore Marriott Waterfront Hotel from 6-11 p.m. and will feature the theme of "Viva Las Vegas," with casino gaming presented by the Atlantic City Hilton utilizing "fun money" along with raffles for prizes.

Tickets are on sale now for $175 each and $1,750 for tables of 10. Select proceeds from the Hospitality Industry Awards Gala benefit the Maryland Hospitality Education Foundation.

RAM is also inviting all Marylanders to vote for their favorite "Hot New Restaurant" on www.marylandrestaurants.com, where they can fill out a Diner's Choice Award ballot. Winners will be announced at the gala.



Essex Finalizes Windermere

Group Acquisition

The Columbia-based Essex Corp. has completed its acquisition of The Windermere Group, LLC, headquartered in Annapolis. Essex paid $69.4 million for all of the outstanding equity of Windermere in an all-cash transaction which closed February 28.

"This transaction is an important step toward Essex's goal of creating an intelligence technology total solutions capability," commented Leonard Moodispaw, CEO and president of Essex Corp. "With the addition of Windermere, Essex now has over 650 employees, including over 400 with the highest level of clearance offered by the United States government. I believe this makes Essex one of the largest purely intelligence-focused companies in the defense and intelligence industry. —"

Windermere will operate as a wholly-owned subsidiary of Essex Corp. headed by its founder, Raymond Tate. Windermere completed calendar year 2004 with $64 million in revenues, and more than 35% growth from its $47 million in revenues from calendar 2003.



Anne Arundel's Strong Economy

Leads to Favorable Bids

Anne Arundel County has sold $151.5 million in General Obligation

Bonds, of which $56 million was for general improvements throughout the

County, $24.5 million was for water and sewer improvements and $71 million was

to advance refund prior bond issues.

J. P. Morgan Securities, Inc. of New York provided the winning bid with a true interest cost of 3.884569% and a premium of $8.8 million. Other bidders were ABN AMRO Financial Services, Inc. and Merrill Lynch & Co. Ratings were affirmed on the county's debt as follows: Standard & Poors Rating Group, AA+; Moody's Investors Service, Aa1; and Fitch Ratings, AA+.

The rating agencies gave the bonds high marks based on the county's robust

economy. It had an unemployment rate of 3% in December, steady population growth

and creation of 7,800 new jobs in 2004, the highest level in the state, plus the county's modest debt profile.



CareFirst Blues Opt Not to Pass HMO Premium on to Members

The CareFirst BlueCross BlueShield board of directors have opted to absorb a new 2% tax on HMO premiums this year, rather than pass it along to its 330,000 CareFirst BlueChoice HMO members in Maryland, meaning the corporation will absorb the $13.7 million in costs.

Medical malpractice reform legislation enacted last month by the Maryland General Assembly included a 2% tax on HMO premiums to fund a stop-gap pool designed to stabilize malpractice liability insurance premiums paid by doctors and other health professionals.

Michael Merson, chairman of the CareFirst, Inc. board of directors, said, "This commitment is over and above the previously announced $60 million reduction in targeted earnings for 2005 to go toward rate relief for members. We see this as contributing toward our primary mission to provide quality health care coverage that is accessible and affordable."



MPT Ends 35-Year Run of

"Wall $treet Week"

Maryland Public Television (MPT) has announced that it will retire the long-running series, "Wall $treet Week," with the final episode to be produced for broadcast on Friday, June 24, at 8:30 p.m.

"This announcement signals the end of an era for us," said MPT President & CEO Robert Shuman, adding, "We're proud that MPT has produced the most-watched weekly financial show for 35 years."

"Wall $treet Week with Fortune," which debuted in 2002 as a successor to the long-running "Wall $treet Week with Louis Rukeyser," has averaged a national weekly audience exceeding one million viewers since its inception. "However, it became clear that difficult market conditions impeded our ability to secure the necessary underwriting support necessary to continue production," Shuman said.



Business Groups Prepare for Business to Business Trade Show on April 19

The Baltimore/Washington Corridor Chamber of Commerce, Howard County Chamber of Commerce and Network Referral Group are preparing to present the annual Business to Business Trade Show on Tuesday, April 19, from 9:45 a.m. to 4 p.m. at Laurel Park.

There will be a networking breakfast in the Turf Club prior to the trade show, which will be marketed throughout the Baltimore-Washington Corridor. The price range for the booths runs from $100 to $1,095. To reserve a booth, contact Arlinda Andrews at 301-725-4000 or 410-792-9714; fax 301-725-0776 or e-mail arlinda@baltwashchamber.org. The floor plan is available at www.chamber show.biz.



Grace Buys Latin American Firm

Columbia-based W.R. Grace & Co. has acquired certain assets of Midland Dexter Venezuela, S.A. (Midevensa). Terms of the acquisition were not disclosed. Midevensa is a supplier of coatings and sealants for rigid packaging in the local and export markets of Latin America that will become part of the Darex product line.

"This acquisition underscores our commitment to grow the Darex coatings and sealants business," said Fred Festa, Grace president and COO. "We are dedicated to providing our customers with innovative technologies and superior product performance. The products and technologies acquired are an excellent complementary addition to Grace's leading line of Darex coating and sealant products."



ABC-TV Visits ExploraWorld

ABC-TV was on hand at ExploraWorld in Columbia last week to shoot scenes for the series "Wife Swap!" which showcases mothers from two families temporarily switching roles and working towards expanding the other family's awareness of family dynamics and interactions.

The episode shot Wednesday, March 2, featured a family living in the Baltimore/Washington area with two boys, ages 3 and 7, that are home-schooled. Their "visiting mom" took them to an educational place to play for the morning and chose ExploraWorld. The episode is scheduled to air in May.

The national television exposure coincided with the business's change in name to PlayWiseKids, which reflects the philosophy of play and represents the type of educational items that are sold in the lobby store.



DCA to Buy Medicore

Linthicum-based Dialysis Corp. of America (DCA), which runs kidney dialysis centers in Maryland and a half-dozen other states, is buying Hialeah, Fla.-based Medicore in a deal worth about $152 million. DCA will fund the buy with about 5.3 million shares of its own stock and Medicore shareholders will receive .68 of a share in DCA.

Medicore, which makes medical supplies including syringes and lancets, holds a 57% stake in DCA, which runs free-standing kidney dialysis centers and provides in-hospital dialysis services on a contract basis. The deal will simplify corporate structure and put controlling interest in shareholder hands instead of one controlling party.



BWI Airport Garners $10 Million to Upgrade Security

Senators Barbara Mikulski and Paul Sarbanes (both D-Md.) have announced that BWI Airport is slated to receive $10 million to help pay for a new, state-of-the-art, in-line baggage screening system. The system is being installed in BWI's new A/B terminal, which is scheduled to open this spring and will house Southwest Airlines.

BWI has experienced a 12% increase in passenger traffic during the past 12 months and industry predictions are that this growth will continue at 10-12% per year for the next three to five years. In 2004, Southwest Airlines was the biggest carrier at BWI and its continued growth necessitated construction that included the new screening system.

"I'm so proud that BWI will receive a federal investment in these critical security upgrades," said Senator Mikulski. "Every day in the United States Senate, I fight to make sure we are doing things safer and smarter; that's why I asked the Department of Homeland Security to release these funds. I'm pleased that the Transportation Security Administration has recognized the needs at BWI. These funds will go a long way to keep Americans safer when they fly."



Laurel Toyota Ranks Second in

New Car Sales in Country

Toyota Motor Sales' "Top 300 Dealers" report revealed good news for Laurel Toyota, which ranked second nationwide on the corporation's new car sales list in 2004. The total of 7,687 new vehicle sales last year at the North Laurel dealership was bolstered by the efforts of Bobby Anwar, who sold an estimated 472 new Toyotas. That placed him first among salesman at the two CarMax-owned Toyota stores. Bob Schrader, who serves as general manager of both facilities, said the news validates the effectiveness of the "no-haggle" policy of offering a set price for vehicles, instead of negotiating a price.

Laurel Toyota barely eclipsed Boch Toyota of Boston to secure second place, with first place going to Longo Toyota of Los Angeles, which sold 19,286 cars last year.

CarMax bought the dealership as its first new car outlet in 1998 when it was located on Route 198.



Federal Money Would Aid Howard Transportation Improvements

A $284 million federal transportation bill that was recently approved by the House of Representatives would include $13 million that would boost four road and transit improvement projects in Howard County.

The bill, called the Transportation Equity Act, would fund road and transit projects nationwide for the next six years and includes $5 million for a commuter bus facility that would be shared with Anne Arundel County; $5 million to start construction on a third lane to a section of northbound Route 29, near Fulton; $2 million to help fund construction of an interchange along Route 32 and Burntwoods Road in Glenelg; and $1 million for improvements along the Route 1 corridor.

The bill is now headed to the Senate. Congressional leaders are hoping to adopt the final bill in May. If approved, the money would be available next year.



New Additions at The Centre at

Glen Burnie

Bonefish Grill, a division of Outback Corp., will open a 5,000-square-foot restaurant at the newly renovated Centre at Glen Burnie. The chain opened its first restaurant in January 2000 in St. Petersburg, Fla., and now runs more than 50 restaurants nationwide.

Also, Hallmark Cards & Gifts has signed a lease to occupy 4,000 square feet in the newly renovated Centre, which is owned by Petrie Ventures of Annapolis. Petrie has made a major investment in acquiring and redeveloping the mall's interior and exterior, and has brought in Target to complement Dick's Sporting Goods, Best Buy, Toys 'R' Us, and more than 100,000 square feet of inline shops.



Howard County Starts 2005 With Lowest Unemployment Rate in State

Howard County's January 2005 unemployment rate of 3.2% was the lowest in the state, according to figures released by the U.S. Department of Labor. The county's unemployment rate remained well below state and national averages in January, which were 4.7% and 5.7%, respectively.

The Howard County Economic Development Authority projects a total of 3,000 jobs were created in 2004. Twenty office buildings totaling 936,000 square feet of office space are under construction throughout the county, making room for continued job growth in 2005. Meanwhile, according to Trammell Crow, the county's office space vacancy rate continues to decline and is approaching 11%.



Former Rouse CEO Deering Working With Exeter Capital

It didn't take long for former Rouse Co. CEO Anthony Deering to make his next move and it turns out he's still connected to his former long-time employer. He is now chairman of the board of Lutherville-based Exeter Capital, an investment firm that is co-located with the Rouse Co. Foundation and the Charlesmead Foundation.

"I am delighted to say that Margaret Mauro [former director of corporate contributions for Rouse] has joined me as vice president of the Rouse Company Foundation," Deering said. "Also, very thankfully, Catherine Schoonover has joined me as my executive assistant here as well."



Robey to Introduce Draft Comprehensive Human Services Plan

Howard County Executive Jim Robey will make the first public presentation of the draft Comprehensive Human Services plan to the Association of Community Services (ACS) membership Wednesday, April 20.

The plan, which outlines county human services priorities based on trends through 2010, will be used to guide the work of county government and human service organizations. The meeting will start at 11:45 a.m. at the Oakland Mills Meeting House at 5885 Robert Oliver Place in Columbia. For more information, call 410-796-7824 or go to www.acshoco.org.



JREF Makes $80K Loan to

Staffing Agency

JREF (The Jim Rouse Entrepreneurial Fund) has loaned $80,000 to Goliven Aides, Inc., a new multi-service staffing agency serving hospitals, rehabilitation centers, nursing homes, assisted living facilities and individual residences.

Managed by JREF, the loan was provided through the county's Community Development Block Grant (CDBG), part of a federal program that provides low-interest loans to businesses. Owned by Nigerian nationals Geoffrey and Funke Ajepe, Goliven Aides opened last month in Ellicott City. The company supplies health care professionals, such as RNs, LPNs and companions, to local medical institutions.



JREF Funds BBQ Business in Laurel

JREF (The Jim Rouse Entrepreneurial Fund) loaned $100,000 to Smokey Hollow last week, a new barbeque carry-out restaurant and caterer in Laurel. The loan will be used for equipment, working capital and to hire four employees for the business, which plans to open in early June.

Smokey Hollow is owned by Highland residents Dave and Pam Vukmer. When bank financing became difficult to obtain, the Vukmers were referred to JREF by Lehr Sorden, the senior business consulting manager of the Howard County Small Business Development Center.

The restaurant will offer soups, salads and several regional styles of barbeque, including Carolina barbeque, Texas brisket, St. Louis ribs, and barbeque chicken. It will be located at 7500 Montpelier Road in Laurel, with a schedule of 11 a.m. to 8 p.m., Tuesday through Sunday.



Eccentric's Named One of

Top 100 U.S. Urban Elite Spas

Eccentric's - The Spa Sanctuary for hair, nails and skin, in Odenton, has been named one of the Top 100 U.S. Urban Elite Spas in SalonSense magazine. Supporting eccentricity is an important vision for Founder Lisa Ennis. "We are proud to be recognized by our peers in the hair and spa industry as one of the area's best salon-spas," she said.

"I believe it has everything to do with our dedication to understanding and empowering all individuals across a wide range of cultures," Ennis said, "from European to African-American and Asian to Latino, to build optimum beauty and wellness and to see that each individual receives only the best possible personalized service."



Chesapeake Telephone Acquires

Toshiba Dealer

Chesapeake Telephone Systems (CTS), a Millersville-based telephone systems provider, recently acquired more than 600 additional Toshiba customers from Third Generation of Maryland (formerly ATI), a major phone systems dealer based in Columbia.

As a result of this acquisition, CTS has increased its customer base by 15%. This is CTS's second acquisition of customers within a year, as it acquired more than 1,000 clients from Gaylon Communications, Inc., a major Baltimore area Toshiba dealer, in April 2004.



Owens Wants Options in

School Board Selection

Anne Arundel County Executive Janet Owens and county legislators are considering a bill that could change the way school board members are selected.

The draft bill would give voters three options on the 2006 ballot: continue with a school board appointed by the governor; give the county executive power to appoint seven members who would be confirmed by the County Council; or allow the county executive to appoint three at-large members and voters to elect four others.



VBP OutSourcing Expands Again

VBP OutSourcing, Inc., a Glen Burnie-based company that specializes in business outsourcing, has expanded its offices for the second time in just more than a year. The company moved into an office suite in the Empire Towers building on Ritchie Highway in Glen Burnie in January 2004 and the recent move is within the building to Suite 404, which will provide more than twice the space.

"Our company has grown faster than what I had envisioned," said VBP OutSourcing President Veronica Eyenga, "and we have added new clients and new staff members during this past year." VBP has managed the accounting, marketing and public relations, publication and graphic design, web development and executive-level administrative tasks of public and private companies by remote access since 1997.



Stone House Publications Launches Mason-Dixon Archive

Mason-Dixon Archive, a new small-format, full-color magazine, is directed at high-end homeowners with an active lifestyle who enjoy gardening, fine dining, wine, travel, day trips, fitness, history, horses, antiques, shopping, interior design and home renovation.

The magazine will reach 40,000 readers each month in Cecil, Harford, Baltimore, Carroll and Howard counties. While available through subscription, complimentary copies will be distributed through area shops, antiques and design centers, galleries, coffee shops, libraries and visitors centers. In addition, selected high-end homeowners in Baltimore City and the five counties will receive complimentary copies by mail.



Computer Troubleshooters Cited By Entrepreneur Magazine

Computer Troubleshooters USA has been named the top technical support business franchise company for 2005 by Entrepreneur magazine in its annual Franchise 500 rankings.

The magazine's 24th annual Franchise 500 rankings also ranked the Atlanta-based company, which operates a franchise in Columbia, at number 181 overall among the top franchises, an improvement over its 231st ranking last year. The company was also rated the number one technical support business franchise company for 2004 and 2002.



Howard School Board, Teachers Reach Tentative Multi-Year Agreement

The Howard County Board of Education and the leadership of the Howard County Education Association have announced that they have reached a tentative two-year agreement.

If ratified by Association membership, teachers will receive 3% and step increases for eligible staff, effective July 1; and a 3.5%, plus step increase for eligible staff, for the 2006-07 school year.

"We are very pleased to have reached a two-year tentative agreement," said

Board Chairman Courtney Watson. "A multi-year contract provides security for our employees and will assist the board in longer term fiscal planning. The 3% increase should allow Howard County to maintain its competitiveness with other school systems."



HFSTival Returning to Baltimore

The HFStival will return to Baltimore's M&T Bank Stadium for the first time since Spring 1999 this year. The famed alternative rock concert, which has normally been held at RFK Memorial Stadium, will take place on May 14 and feature such acts as Social Distortion, the New York Dolls, Garbage and Billy Idol.

The future of the HFStival was put in question after its chief organizer, WHFS, switched from alternative rock to an all-Spanish music format early this year. But the station recently found new homes on Radio@AOL and at 105.7 FM in Baltimore, which has a talk-radio format during the day and plays alternative rock at night and on the weekends.