TIME Cites Hrabowski Among 100 Most Influential
TIME has named Freeman Hrabowski, president of UMBC, to the 2012 TIME 100, the magazine’s annual list of the 100 most influential people in the world. The full list and related tributes appear in the April 30 issue and at time.com/time100.
The list, now in its ninth year, recognizes the activism, innovation and achievement of the world’s most influential individuals. “The TIME 100 is not a list of the most powerful people in the world; it’s not a list of the smartest people in the world,” said Managing Editor Richard Stengel, “it’s a list of the most influential people in the world. They’re scientists, they’re thinkers, they’re philosophers, they’re leaders, they’re icons, they’re artists, they’re visionaries. [They’re] people who are using their ideas, their visions, their actions to transform the world and have an effect on a multitude of people.”
SRT Announces Strategic Partnership With Aquion
Annapolis-based South River Technologies (SRT) has signed Aquion Pty as a distributor and strategic partner to cover Australia and New Zealand. Aquion has been a reseller of SRT products since 2008; in its expanded role, it will focus on distribution of SRT’s Cornerstone Managed File Transfer solution, assisting in both pre-sales consultative services and post-sales support.
“We have been working with their technologies for several years now and are seeing real growth in the secure managed file transfer business in Australia,” said Stephen Balicki, managing director of Aquion. “We believe that our customers, as well as our resellers, who include Australia’s largest software licensing resellers and security specialists, will find the full range of SRT’s products useful in meeting their customers’ growing need to communicate securely.”
“We were looking for a distribution partner that would enable us to enhance our presence in the Australian and New Zealand markets, and we feel that Aquion has proved to be the best partner to support our objectives,” said Matt Ryan, director of strategic partnerships at South River Technologies. “The Cornerstone MFT software provides a comprehensive range of solutions for a broad range of clients across all industry sectors, and therefore it was important for us to work with a partner that was well-placed to serve this spectrum.”
TEDCO Endorses JOBS Act in Partnership With Startup America
The Maryland Technology Development Corp. (TEDCO), a founding member of the Maryland region of the national Startup America Partnership, has formally announced its support of the bipartisan JOBS Act. This bill is the first legislation that directly targets early stage companies that TEDCO funds and supports.
The Jumpstart Our Business Startups (JOBS) Act was recently approved by Congress and is expected to be signed into law by President Barack Obama. A measure with strong bipartisan support, the JOBS Act will increase access to capital for young companies and reduce certain regulatory barriers that restrict the growth potential for companies. The Act seeks to help startups and small businesses to build their companies and hire employees.
“Entrepreneurs are the backbone of Maryland’s innovation economy and play an essential role in job creation and economic development,” said Rob Rosenbaum, president and executive director of TEDCO. “Being home to successful companies like Under Armour and Millennial Media, our state has a proud entrepreneurial and startup spirit. The JOBS Act will encourage ambitious and promising business leaders to start companies and develop technologies that will make contributions to the quality of life for all Americans.”
TriColumbia Announces Iron Girl Rocky Gap Triathlon
Columbia-based TriColumbia announced that the inaugural Iron Girl Rocky Gap Triathlon will take place on Sept. 9 at Rocky Gap State Park in Flintstone, Md., and will consist of a 0.5-mile swim, 16-mile bike ride and three-mile run. This all-women event is about empowering women toward a healthy lifestyle and providing a platform whereby women support one another as they journey toward the finish line.
Registration for the 2012 Iron Girl Rocky Gap Triathlon is now open. Registration is $135 for USAT members, $145 for non-USAT members and $235 for a three-person relay team. The prize purse is $4,999 for all competitors except relays. For more information and to register for the Iron Girl Rocky Gap Triathlon, visit TriColumbia.org or e-mail info@TriColumbia.com.
Florida City, Greenbelt Tab Brekford for Traffic Enforcement
Hanover-based Brekford Corp. has been selected for its first Automated Red Light Traffic Safety Contract in the state of Florida. This contract is the company’s first outside of Maryland and includes the installation and maintenance of all red light safety cameras in Riviera Beach, Fla.
“Recent statistics show that car crashes resulting from motorists running red lights are more likely than any other type of crash, resulting in over 1,000 wrongful deaths per year and over 90,000 cases of personal injuries,” said C.B. Brechin, Brekford’s CEO. “Red light camera systems have been proven to reduce the amount of fatal and injurious crashes by as much as 44% in some areas, which means they not only save lives, but money as well.”
Brekford has also been selected for a speed enforcement contract in Greenbelt. The camera systems will issue warnings for 30 days; after this initial introductory period, each driver surpassing 12 miles over the speed limit will be issued a $40 citation.
Annapolis Bancorp Repays 50% of TARP, Adds Branch
Annapolis Bancorp, parent company of BankAnnapolis, has repaid one-half of its $8.2 million TARP obligation to the U.S. Treasury. Since receiving the TARP investment, the company has paid the U.S. Treasury more than $1.2 million in preferred stock dividends and has never missed a quarterly dividend payment.
“Ten consecutive profitable quarters have solidified our capital ratios and positioned us to make this pay down without having to raise additional capital through a potentially dilutive stock offering,” said Richard Lerner, chairman and CEO of Annapolis Bancorp and BankAnnapolis. “If trends continue, we fully expect to meet our goal of paying off the balance of our TARP obligation before the scheduled dividend rate increases from 5% to 9% in January of 2014.”
In addition, BankAnnapolis broke ground on a new branch office at The Village South at Waugh Chapel, the mixed-use development now under construction in Gambrills, just south of the existing Village at Waugh Chapel.
Upscale Apartments Coming to Annapolis Towne Centre
The Bozzuto Group, based in Greenbelt, has broken ground on a new, upscale apartment building at Annapolis Towne Centre at Parole. It will feature 208 apartment homes and is steps from Annapolis Towne Centre’s premium mix of retailers, restaurants and services. The $55-million, four-story building will be located near the center’s Riva Road entrance, between Paladar and Zoe’s Kitchen.
This will be Bozzuto’s second community at Annapolis Towne Centre. In 2008, the company built Mariner Bay, a complex featuring 210 luxury apartments on Towne Centre Boulevard, which is currently 98% leased.
“Mariner Bay was a tremendous success, proving that prospective renters are drawn to the ambiance and conveniences offered by Annapolis Towne Centre,” said Brian Gibbons, chairman and CEO of Owings Mills-based Greenberg Gibbons Commercial. The new apartments are scheduled to open in 2014. Annapolis Towne Centre will be providing free valet parking near the construction site during development.
NGC Conducts Air and Missile Defense Radar System Reviews
Northrop Grumman Corp. (NGC) has completed two key rounds of program reviews for the U.S. Navy’s Air and Missile Defense Radar (AMDR) program, demonstrating the program is on schedule to meet critical technology development.
The company conducted System Functional Review (SFR) in late December and Test Readiness Review (TRR) several weeks later. SFR is a multi-disciplined technical review conducted to ensure that the system under review is technically mature enough to proceed into preliminary design. TRR assesses the readiness of the system for testing configuration items.
ELTA Opens Domestic Offices in Maple Lawn
ELTA Systems, an Israeli defense electronics firm and the world’s fourth-largest radar manufacturer, plans to hire 100 workers at its newly opened 7,500-square-foot U.S. headquarters in Howard County at Maple Lawn Corporate Center.
The company’s U.S. subsidiary, ELTA North America, plans to expand to 25,000 square feet as it hires more employees and ramps up the office to include electronics manufacturing, among other services. Founded in 1967 as a subsidiary of Israel Aerospace Industries, the firm develops products for intelligence, surveillance, target acquisition and reconnaissance, homeland security and fire control. It exports products and services to the militaries of more than 50 countries and reports annual sales of $1 billion.
Columbia’s BoxTone Lands $4M Loan
BoxTone, a provider of Enterprise Mobility Management (EMM) solutions, has secured a $4 million venture loan from NXT Capital’s Venture Finance Group. The facility will enable BoxTone to finance key growth initiatives. Based in Chicago, NXT Capital targets senior financing opportunities up to $150 million with a hold size up to $50 million.
BoxTone solutions enable enterprises, managed service providers and public sector entities to secure, manage and support mobile users, devices and apps. The BoxTone EMM platform provides real-time control of all mobile devices and tablets, as well as the apps that run on them. The Columbia-based company’s customers include 41 of the Fortune 100 and eight of the top 10 Managed Service Providers.
Arbitron Settles With the California Attorney General
Columbia-based Arbitron has entered into a settlement with the attorney general of the state of California, the Los Angeles city attorney and the San Francisco city attorney, which has resolved all allegations against Arbitron in a lawsuit.
It was filed on March 21, 2012, in the Superior Court of the State of California, in San Francisco County, relating to the marketing and commercialization of the Arbitron Portable People Meter (PPM) radio ratings service in Los Angeles, Riverside-San Bernardino, Sacramento, San Diego, San Francisco and San Jose. As part of the settlement, Arbitron has agreed to continue a number of measures that are already an integral part of the company’s current PPM methodology and of its continuous improvement program for the PPM ratings services in all markets.
Maryland 4th in Nation for Percentage of Green Jobs
Maryland is fourth in the nation when it comes to states with the largest number of green jobs as a percentage of total jobs, according to 24/7 Wall St. The publication looked at a report released by the Bureau of Labor Statistics indicating that the total number of jobs in the country related to green products and services in 2010 was 3.13 million.
In 11 states, green jobs (which were represented in several sectors, including manufacturing and construction) accounted for 3% or more of total jobs. The states with the highest proportion of green jobs also tended to have below-average unemployment rates. According to the publication, green jobs represent 3.6% of total employment in Maryland, with 2.8% in the private sector, and with the unemployment rate at 6.5%.
Loyola University Maryland to Launch Business Accelerator
Loyola University Maryland has launched a business accelerator, an initiative that will create a forum for the university to collaborate with local entrepreneurs interested in creating and building new businesses. The accelerator will be located in the Govans community in North Baltimore, just east of Loyola’s North Charles Street campus.
The project is a partnership with Wasabi Ventures, a California-based venture capital firm with a presence in Baltimore, which will provide professional staff to manage the accelerator, funding for startup companies, internships for Loyola students, and the expertise of entrepreneur-in-residence Thomas “T.K.” Kuegler, Wasabi’s co-founder and general partner (and a 1994 Loyola graduate).
New Crofton Wegmans to Hire 470 Workers
With construction moving toward completion and a fall 2012 opening in the works, Wegmans Food Markets is now hiring full-time employees for a new, 125,000-square-foot store at Waugh Chapel Towne Centre off Route 3 in Gambrills (Crofton). Of 520 positions to be filled, 160 are full-time. About 470 of the 520 employees will be new hires from in and around Anne Arundel County.
Applicants must apply online at www.wegmans.com/careers. Interviews will be conducted by appointment only and applications will not be accepted at the store site or by telephone. Hiring for part-time positions will begin mid-summer. “There’s a great diversity of jobs and career paths at Wegmans,” said Store Manager Gerry Troisi. Wegmans has ranked high on Fortune magazine’s list of “100 Best Companies to Work For” for 15 consecutive years. In 2012, the store ranked No. 4.
PharmAthene Secures $7.5M Credit Facility
Annapolis-based PharmAthene has secured $7.5 million in senior secured credit facilities from GE Capital, Healthcare Financial Services, consisting of a $2.5 million term loan and a revolving line of credit of up to $5 million.
“Our expected 2012 monthly cash burn is less than $500,000 per month based on currently projected activities on our contracts,” said Linda Chang, senior vice president and chief financial officer of PharmAthene. “Given that PharmAthene had $19.2 million in cash and cash equivalents, short term investments and net receivables as of Dec. 31, 2011, this financing provides an additional liquidity cushion until the time in 2013 when we anticipate receiving final resolution of the litigation with SIGA Technologies.”
COPT Sells Remaining Stake in KEYW
The remaining shares of KEYW held by Corporate Office Properties L.P., a subsidiary of Columbia-based Corporate Office Properties Trust (COPT), were sold on March 21. “We would like to thank [COPT] for their initial investment in KEYW as a startup entity almost four years ago, and for their support as [a] board member and investor since that time,” said Leonard Moodispaw, president and CEO of KEYW.
As an update to investors on KEYW’s existing stock repurchase plan, the KEYW has repurchased 396,191 shares so far in 2012, including a portion of the shares purchased in the above transaction. A total of 822,093 shares have been repurchased since the program began, at an average price of $7.33 per share. As previously disclosed, a total of 425,902 shares were repurchased in December 2011.
Tai Sophia Responds to Demand for Health, Wellness Coaches
Tai Sophia Institute, of Laurel, has announced the nation’s first Master of Arts in Health & Wellness Coaching. Research shows that health education alone is not enough to inspire people to change behaviors and make positive health choices, so the new program is designed to meet the need and to set the standard for one of the top careers of the decade.
As the only such program in the country, it offers an opportunity to build extraordinary coaching skills in four specialty areas of alternative medicine: Ayurvedic Wellness Practices, Chinese Wellness Therapies, Medical Herbalism and Herbal Studies. These areas respond to an increasing use of integrative and complementary medicine. About 38% of adults and 12% of children already use some form of complementary and alternative care, according to the National Institutes of Health.
Tecore Announces Low Cost LTE Startup, License-Saver Systems
Columbia-based Tecore Networks has announced the availability of a scalable LTE network ‘starter kit’ that includes the iCore LTE Core Network targeting operators with an initial deployment of up to 10,000 subscribers. This configuration aims at optimizing capital expenditure (CAPEX), putting LTE deployments in reach for smaller operators looking to add to their service offering or to meet build-out requirements.
With the emergence of LTE as the de facto 4G technology, Tecore recognized the challenges faced by smaller operators looking to enter the market, which are also shared by established operators evaluating the CAPEX of a technology refresh. For this reason, Tecore Networks teamed up with Alcatel Lucent, integrating its Radio Access Network portfolio with Tecore’s iCore to provide an efficient and cost-effective solution for regional and remote mobile carriers.
BBJ Names Marriner Among Baltimore’s Largest Web Design Firms
The Baltimore Business Journal ranked Marriner Marketing Communications in the top 10 of the largest web design firms in the Baltimore area. Rankings are based on 2011 interactive revenue, and more than 100 companies were considered for the list. Marriner has enhanced its in-house capabilities to include web design and development, search engine marketing, social media and content management solutions, as well as mobile and tablet development.
“We have reached a level where almost all of our clients now have a digital initiative integrated into their marketing communications programs,” said Seth McMillan, director of interactive for Marriner. “The reality is the impact of technology will continue to expand the opportunity for companies to reach and engage their target audiences in an increasingly dynamic way. Digital must now be a foundational element of any successful integrated communications initiative, regardless if it is business-to-consumer or business-to-business focused.”
FFB Commits $2 Million to MitoChem Therapeutics
The Columbia-based Foundation Fighting Blindness (FFB) has announced a $2 million investment in the Charleston, S.C.-based startup company MitoChem Therapeutics, to develop a cross-cutting treatment for vision-robbing retinal degenerative diseases. MitoChem’s approach involves protecting mitochondrial function in cells to potentially slow vision loss caused by conditions such as macular degeneration and retinitis pigmentosa that affect more than 10 million Americans.
“We are always excited by cross-cutting therapies that show promise for benefiting people with a range of conditions,” said Stephen Rose, chief research officer, FFB. “With defects in more than 200 genes causing these retinal conditions, we are very attracted to potential treatments like MitoChem’s that can help a lot of people, including those for whom we can’t find the defective gene causing their disease.”
Custom Media’s Flagship Publication Announces a New Name
The owners of Custom Media Options, a custom publishing group based in Columbia, have announced that their magazine, Woman to Woman Magazine, will have a new name as of the summer [June] 2012 issue, Her Mind.
Now in its second year, the magazine, which offers stories about Howard County women in business, philanthropy, community service and the arts, continues to grow. As part of that growth, publishers Beth Ditman and Dorothy Doub have announced the name change. Ditman said it will help enable the publication to use a range of social media and tools for outreach and communication.
SECU Among Nation’s Best First Mortgage Granting Credit Unions
The American Credit Union Mortgage Association (ACUMA) has named Linthicum-based SECU as one of the Top 300 First Mortgage Granting Credit Unions in the country. SECU, Maryland’s largest state-chartered financial cooperative, ranked first in the state and 33rd nationally among mortgage granting credit unions as of Sept. 30, 2011, according to the annual ACUMA ranking.
ACUMA’s data shows that SECU originated $260.5 million in 1,376 fixed and adjustable first mortgages through the third quarter of 2011. SECU also sold $108.4 million in first mortgages during the same period. Outstanding fixed and adjustable first mortgages totaled $724.4 million, while real estate loans sold but serviced by SECU topped $389.7 million.
MDDCCUA Supports Legislation to Raise Cap on Small Business Lending
The Maryland & DC Credit Union Association (MDDCCUA) is part of the charge to support passage of the Credit Union Small Business Jobs Bill. Introduced by Senator Mark Udall and Representative Ed Royce, the bipartisan legislation (S. 2231/H.R. 1418) would raise the cap on credit unions’ small business lending from 12.25% of assets to 27.5%.
That, in turn, would free up an estimated $13 billion in additional capital, while creating more than 140,000 new jobs nationwide — all at zero expense to taxpayers. “Passage of the bill will ensure that credit unions continue to make small business loans,” said MDDCCUA President and CEO John Bratsakis. “MDDCCUA estimates that member business loans by Maryland credit unions would exceed $201 million in the first year, creating nearly 2,200 new jobs statewide.”
VBP Leaves Glen Burnie for Columbia
VBP OutSourcing, a consulting firm that focuses on cost accounting for the government, has moved from its Glen Burnie office location to a new space in the Columbia area. The move accommodates recent growth and enables the firm to work amongst numerous government entities.
The move commemorates VBP’s 15th year in business as a resource to government contractors. Founded in 1997 by Veronica Eyenga, VBP initially provided an array of business-to-business consulting, ranging from marketing and accounting to administrative and design solutions. Over the years, it has evolved into a full-service government consulting firm that specifically focuses on helping companies satisfy DCAA guidelines.
BBB Alleviates Risk of ID Theft
The Federal Trade Commission (FTC) estimates that as many as 9 million Americans have their identities stolen every year. On Saturday, April 21, BBB|Greater Maryland helped 1,340 families and small businesses avoid becoming part of that statistic.
The local BBB Shred Day events, which took place in Hanover at Arundel Mills Marketplace and The Avenue in White Marsh, were part of a national document destruction campaign to fight identity theft. With the help of Cintas Document Management, staff, BBB Accredited Businesses and other volunteers, the Saturday morning event destroyed over 42,000 pounds of documents.