8 things you need to know this morning

Baltimore Business Journal - 1 hour 44 min ago
Happy Thursday! Expect another warm and humid day with scattered thunderstorms. Here are eight things to know. • The Maryland Board of Public Works voted unanimously Wednesday to renew a foster-care-placement contract with an Alabama-based company, despite earlier calls by Comptroller Peter Franchot to boycott the state over its strict new abortion law. Franchot, a Democrat who serves on the board, said he voted in favor of the $625,000 contract with Seraaj Family Homes because he did not want…
Categories: Baltimore News

T. Rowe Price to investors: 'It's not time to be a hero' in the stock market

Baltimore Business Journal - 1 hour 55 min ago
T. Rowe Price investment leaders are cautiously optimistic about the second half of 2019 despite risks related escalating trade disputes and ongoing concerns about a possible recession.
Categories: Baltimore News

Ministry of Brewing nabs $750K state loan for church conversion project near Patterson Park

Baltimore Business Journal - 2 hours 5 min ago
A project to convert the former St. Michael's Roman Catholic Church near Patterson Park into a brewpub will be financed in part by a $750,000 state loan. Maryland's Board of Public Works approved the loan, which will be used to pay for furniture, fixtures, equipment and leasehold improvements, on Wednesday. The money will come from the Department of Housing and Community Development's Neighborhood BusinessWorks program, which offers loans of up to $5 million to small businesses and nonprofits that…
Categories: Baltimore News

Shoppers employees to pressure parent company for answers on closures

Baltimore Business Journal - 2 hours 35 min ago
Employees of Shoppers grocery stores in Maryland and Virginia will take to the streets — or, at least, the parking lots — with more than a dozen demonstrations at Greater Washington stores next week as the future of those stores hangs in the balance.  Shoppers’ parent company, United Natural Foods Inc. (NASDAQ: UNFI) of Providence, Rhode Island, has been actively trying to sell the stores as it focuses on the wholesale food business. Some of the stores have been converted to Giant Food locations,…
Categories: Baltimore News

Salisbury University launches $75 million fundraising campaign

Baltimore Business Journal - Wed, Jun 19, 2019
Salisbury University is looking to raise $75 million to grow student scholarships and support academic programs. The fundraising campaign launched publicly this week, with about $48 million already raised in a quiet phase. It is the largest campaign in the history of the Wicomico County university. Salisbury President Charles Wight said the goal of the campaign — dubbed "We are SU" — is to greater enable student success by increasing the scholarship base and ensuring academic programs are…
Categories: Baltimore News

Mayor Young taking a 'different posture' with Stronach Group in Preakness talks

Baltimore Business Journal - Wed, Jun 19, 2019
Mayor Bernard C. "Jack" Young said Wednesday that funding approved by the Maryland General Assembly for improving race tracks in the state should be split "50/50" between Laurel Park and Pimlico Race Course in Baltimore. His comments come after a Baltimore Sun report that the Maryland Jockey Club is seeking $4.4 million in state subsidies to cover half the cost of updates made to the Laurel racetrack last fall. The request is the latest in a wide-ranging and ongoing debate between city and state…
Categories: Baltimore News

E-commerce startup Whitebox raises $5 million in Series A round

Baltimore Business Journal - Wed, Jun 19, 2019
Baltimore e-commerce tech company Whitebox has closed a $5 million Series A funding round to support rapid growth plans. The round was led by TDF Ventures, which invests in logistics and infrastructure technology firms and has offices in Washington, D.C. and Silicon Valley. New investor David Williams, the CEO of Columbia digital marketing firm Merkle, also joined existing investors in contributing to the round. Whitebox has raised $6.7 million to date. Whitebox, led by Millennial Media veteran…
Categories: Baltimore News

$27.5M demolition of Baltimore City Correctional Complex buildings gets OK

Baltimore Business Journal - Wed, Jun 19, 2019
Gov. Larry Hogan's administration plans to build a therapeutic detention center focused on treating opioid addiction and mental health at the site.
Categories: Baltimore News

Japanese electronics manufacturing firm Ricoh takes stake in Baltimore biotech

Baltimore Business Journal - Wed, Jun 19, 2019
Japanese electronics manufacturing firm Ricoh Co. Ltd. is taking a 34.5 percent stake in a Baltimore biotechnology firm, with plans to build out a large U.S.-based biomedical business arm in years to come. With the investment, Ricoh will launch a strategic business partnership with Elixirgen Scientific to develop biomedical products and services around a new drug development method. The price of the deal was not disclosed. The new deal will allow Ricoh to establish a footprint in North American…
Categories: Baltimore News

The NIH had to move hundreds of workers from this Rockville building. Here's why.

Baltimore Business Journal - Wed, Jun 19, 2019
It could take until August before employees can move back in.
Categories: Baltimore News

Upcoming festivals Artscape, Carnival expected to draw thousands to city

Baltimore Business Journal - Wed, Jun 19, 2019
This summer's Artscape will be out of this world. The country's largest free arts festival will be themed "Discover" after the 50th anniversary of the Apollo 11 moon landing, which falls on the Saturday of Artscape weekend, July 19 through July 21. Kathy Hornig, chief operations officer for Baltimore's Office of Promotion and the Arts (BOPA), announced the theme and details of other upcoming festivals during a press conference at City Hall on Wednesday. She was joined by Mayor Bernard C. "Jack"…
Categories: Baltimore News

Greater Baltimore's best and worst months to find a new apartment

Baltimore Business Journal - Wed, Jun 19, 2019
The most expensive month of the year is right around the corner.
Categories: Baltimore News

Coelum restaurant, bar and market to replace Gitan Bistro Cru in Canton

Baltimore Business Journal - Wed, Jun 19, 2019
Ryan Thacker and Corey Laub are getting ready to open their own little slice of heaven in Canton. Coelum — the name of Thacker and Laub's forthcoming restaurant — is Latin for "sky" or "heaven." The business partners are running with that theme as they finish renovations to the space at 800 S. Kenwood Ave. The restaurant, slated to open July 1 in a property that previously housed Gitan Bistro Cru, will have a "Garden of Eden-like atmosphere," Thacker said. A wooden trellis above Coelum's…
Categories: Baltimore News

Gin Blossoms will headline Fells Point Fun Festival as it returns to two days

Baltimore Business Journal - Wed, Jun 19, 2019
Rock band Gin Blossoms will headline the Fells Point Fun Festival this fall as the event returns to a two-day schedule and expands its offerings. The 53rd annual festival will take place Oct. 12-13, with the Grammy-nominated 90s band set to take the stage on Oct. 12. The free event, put on by the Society for the Preservation of Federal Hill and Fells Point, will offer expanded family-oriented areas and activities this year along with the return of the Wolfe Street Beer Garden. The long-running…
Categories: Baltimore News

Alicia Wilson departs Port Covington team for Johns Hopkins

Baltimore Business Journal - Wed, Jun 19, 2019
Alicia Wilson, who has played a key role in kickstarting the 235-acre redevelopment of Port Covington, is joining Johns Hopkins as vice president of economic development. Wilson will report directly to both Johns Hopkins University President Ronald J. Daniels and Kevin Sowers, president of the Johns Hopkins Health System. She will oversee the newly-created Office of Economic Development and work out of the university's Homewood campus. Wilson, a Baltimore native, begins the role July 29 and is…
Categories: Baltimore News

The Takeaway: Wee Chic expands to Virginia with second store

Baltimore Business Journal - Wed, Jun 19, 2019
As its Lutherville store hits the decade mark, Wee Chic has added a second location in Fairfax, Virginia.
Categories: Baltimore News

BB&T files 'Truist' trademark name for future stadiums

Baltimore Business Journal - Wed, Jun 19, 2019
Atlanta Braves fans knew a change to their ballpark was on the horizon when North Carolina-based BB&T and Atlanta-based SunTrust announced a merger back in February. Top executives of BB&T Corp. (NYSE: BBT) and SunTrust Banks Inc. (NYSE: STI) announced last week the new merged bank will be called Truist Bank and the combined holding company will be named Truist Financial Corp. It will be based in Charlotte with the headquarters already targeted for Hearst Tower in uptown. Speculation continues…
Categories: Baltimore News

Columbia Bank's name to go away in September following merger with parent company

Baltimore Business Journal - Wed, Jun 19, 2019
Columbia Bank will convert into Fulton Bank in September, bringing to the end a brand that has been around since 1988.
Categories: Baltimore News

8 things you need to know this morning

Baltimore Business Journal - Wed, Jun 19, 2019
Good morning Baltimore! The hot, humid and wet weather continues today with more thunderstorms expected on and off throughout the day and night. Temperatures should reach the mid-80s as well today. Here's what you need to know on this cloudy Wednesday. Gov. Larry Hogan has created a new state position, office and council aimed at strengthening Maryland's cybersecurity infrastructure. The governor signed an executive order Tuesday to create the position of state chief information security officer,…
Categories: Baltimore News

Johns Hopkins cancer researcher pursues 30-year dream with tech spinout

Baltimore Business Journal - Tue, Jun 18, 2019
Dr. Bert Vogelstein dreams of doctors being able to test patients patients for multiple cancers at their annual physicals, like with any other screening test.
Categories: Baltimore News

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