Baltimore Checkbook

Laurel manufacturer to expand, hire 50 new...

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Iron World is expanding its manufacturing operations in Laurel, pledging to invest $1 million in its facility and hire 50 new employees over the next two years. The company, which produces and distributes decorative steel fences and gates, will make a number of improvements to its 33,600-square-foot headquarters in Laurel. Upgrades include adding storage space, refinishing the exterior of the building and installing new manufacturing equipment that is expected to increase production by 300 percent,…

'Last stand' rally planned for Cross Street Market

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A “last stand” rally called to support merchants at the Cross Street Market is expected to draw about 200 Thursday evening in Federal Hill. The rally will begin at 6 p.m. at the market located at 1065 S. Charles St. It was organized by patrons of the landmark who are pushing back on plans to shutter the facility completely for a year for a $6.5 million redevelopment. Baltimore will pay $2 million of that cost and plans call for it to be converted into a modern urban market modeled after Washington's…

CBS Radio to merge into Entercom

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CBS Radio, which has been up for sale for the better part of the past year, will merge into Bala Cynwyd, Pa.-based Entercom Communications Corp. Financial terms of the deal, expected to close in the second half of this year, were not released. CBS Radio properties in Baltimore are WJZ-AM 1300, WJZ-FM 105.7 “The Fan”, Mix 106.5-FM and WLIF 101.9-FM. David J. Field, CEO of Entercom, will lead the combined company that will have a nationwide footprint of 244 stations, including 23 of the top 25 U.S.…

Over 157,000 Marylanders enrolled in private...

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Despite looming uncertainty about what will happen to the Affordable Care Act and state exchanges, 157,637 Marylanders — including over 11,000 Baltimore residents — enrolled in private health coverage plans for 2017. Monday marked the deadline for open enrollment in health insurance plans offered through the state’s marketplace, Maryland Health Connection. Enrollments in private health plans for 2017 dropped 3 percent from 162,652 at the end of the 2016 open enrollment. Andrew Ratner, director…

8 things you need to know this morning

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Good morning, and happy Thursday. Today is going to bring back the sun — thankfully — but temperatures will continue to hover in the mid 40s. That seems to be consistent with the rest of the week, meaning any chance of accumulating snow Sunday is slim. Here are eight things to know to get your day started. Former mayor Stephanie Rawlings-Blake threw herself a going away party on Nov. 11 — almost a month before she officially left office. The cost of the party? $54,000. The money came from…

Jury says Facebook-owned Oculus stole tech from...

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A Dallas jury ruled on Wednesday that Oculus and one of its founders violated a non-disclosure agreement with Texas-based id Software, ending the weeks-long trial that brought Facebook (NASDAQ: FB) CEO Mark Zuckerberg to town. The jury ordered that Oculus and its co-founders pay Rockville-based ZeniMax Media, Inc., the parent to id Software, a total of $500 million in damages. The damages are for Oculus breaking its NDA and copyright infringement. Oculus co-founders Brendan Iribe and Palmer Luckey…

Former NFL star Shawne Merriman sues Under Armour...

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Former National Football League and University of Maryland star Shawne Merriman filed a lawsuit Wednesday against Under Armour Inc. accusing the sportswear maker of trademark infringement. Merriman and his San Diego-based company, Lights Out Holdings, claim Baltimore-based Under Armour violated a trademark of “Lights Out” by marketing its Stephen Curry basketball shoe line under the name “Curry 3 Lights Out.” The lawsuit notes Under Armour also promoted a “Lights Out” game for use on mobile devices…

Old Line Bank buying MoCo rival for $40.7M

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Bowie-based Old Line Bank is buying Damascus Community Bank for $40.7 million in stock, according to an announcement. The deal values Damascus Community Bank at about $25.22 per share. Old Line bank is currently trading at about $27.22 per share. The acquisition is expected to close in the middle of 2017. Old Line Bancshares (NASDAQ: OLBK), the parent company of Old Line Bank, had about $1.7 billion in assets and 21 bank offices as of the end of 2016. DCB Bancshares, Inc., the parent company of…

Legg Mason posts 3Q profit, assets under...

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Legg Mason Inc. posted a third-quarter profit but missed Wall Street estimates and saw its assets under management fall from the second quarter as CEO Joseph A. Sullivan said the Baltimore firm continues to deal with challenges facing the financial industry. The money manager (NYSE: LM) reported net income of $51.4 million, or 50 cents per share, in its fiscal third quarter ending Dec. 31. That was up from a net loss of $138.6 million, or $1.31 per share, in the year-ago quarter. The earnings results…

Towson City Center hits the market

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Caves Valley Partners is selling the Towson City Center, the 12-story office tower in the heart of downtown Towson that underwent a dramatic overhaul. Cushman & Wakefield is brokering the sale. The 177,933-square-foot tower at 1 Olympic Place is home to a number of big-name tenants, including the Towson University Institute for Well Being, MileOne Automotive, Cunningham’s restaurant, and public radio station WTMD. Caves Valley Partners, whose office sits at the top floor of the building, oversaw…