Baltimore Checkbook

Why the U.S. oil stash has shrunk 6 weeks in a row

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The epic mountain of U.S. oil is starting to shrink. The amount of crude oil stashed in storage tanks plunged last week by more than 4 million barrels. It was the sixth-straight week of declines, according to government stats released on Wednesday. Th…



from http://www.wbaltv.com/money/why-the-us-oil-stash-has-shrunk-6-weeks-in-a-row/40280746

Pimlico daily wagering rises 22% during spring...

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The recently concluded spring season at Pimlico Race Course generated an average of $6.3 million a day over a 28-day period, the Maryland Jockey Club, reported, a per-day increase of 22 percent from last year. The marquee Preakness Stakes headlined the spring schedule at Pimlico, bringing in $94.1 million in bets, an increase of 9.6 percent from last year’s race. The reported attendance for the race this year was 135,256, an all-time record. Black-Eyed Susan Day, the series of races prior to Pimlico,…

Enoch Pratt Central Library kicks off $115 million...

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The Enoch Pratt Free Library — the nation’s first free library system — kicked off its $115 million renovation of its Central Library on Wednesday, an overhaul that is expected to take three and a half years. The funding for the project by the state of Maryland, the city of Baltimore, t he Harry and Jeanette Weinberg Foundation and individual library donors, will restore the dramatic Central Hall and turn it into a “Town Hall,” library officials said. But that’s just just one part of the massive…

Bethesda medical REIT sets share price

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Global Medical REIT on Wednesday priced its initial public offering at $10 per share, which was within the range of $10 to $12 that it proposed in its IPO prospectus. The Bethesda-based health care facilities real estate investment trust sought to raise $100 million by offering up 9.1 million shares of common stock. The company upped that offering to more than 13 million shares, raising more than $130 million. The REIT, which will trade on the New York Stock Exchange under the ticker GMRE, plans…

Pompeian ready to expand in East Baltimore, add...

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Pompeian Inc., a 110-year-old Baltimore company that imports olive oil and makes vinegar, is preparing to expand its manufacturing facility with the acquisition of an adjacent public park. The city’s Board of Estimates on Wednesday approved the sale of the park at 140 N. Janney St., which is next to the company’s existing plant. The purchase price was set at $1, with the promise that Pompeian will invest at least $1 million over the next five years to build on the 78,000-square-foot property. The…

Gov. Larry Hogan vows to keep fighting for road...

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Gov. Larry Hogan vowed Tuesday night to continue to fight the Democratic-controlled state legislature over funding road projects in the state. During an address at the Maryland Municipal League Convention in Ocean City, Hogan, a Republican, said “we can not and will not let” the General Assembly hinder road and bridge repairs, according to The Washington Post. “We’re going to keep fighting to make sure these priority road projects in every jurisdiction continue to move forward,” Hogan…

UK's $100 billion autos industry can't survive...

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Having failed to prevent a vote for Brexit, the British auto industry is now turning to the U.K. government for help limiting the economic fallout.



from http://www.wbaltv.com/money/the-uks-100-billion-autos-industry-cant-survive-without-europe/40276014

Brexit winners? Johnnie Walker and Lucky Strike

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Still nervous about the impact Brexit will have on the global economy and stock markets? Relax. Have a glass of Scotch. And a cigarette.



from http://www.wbaltv.com/money/brexit-winners-johnnie-walker-and-lucky-strike/40275596

Walmart competing for online shopping title

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Walmart’s Amazon Prime competitor just got more competitive.



from http://www.wbaltv.com/money/walmart-is-giving-everyone-a-month-of-free-shipping/40274740

McCormick promotes within for new CFO

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McCormick & Co. Inc. said on Tuesday that CFO Gordon Stetz will retire from the spice maker at the end of 2016. Stetz will remain CFO until Sept. 1., when longtime company executive Michael R. Smith will take on the role. Stetz has been with McCormick for 28 years, holding the title of CFO since 2007 and a sitting on the company’s board since 2011. During his time as CFO, the company completed 12 acquisitions, with a major focus on expanding internationally. Stetz will remain an executive vice…