Archive for October, 2009

LAUREL – Aquilent has landed two contracts with the Department of Veterans Affairs to provide a migration solution for healthcare revenue data as well as a health risk assessment solution.  The agreements are worth $2.7 million.

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ELKRIDGE – Through its subsidiary General Physics Corporation, GP Strategies has won a multi-year contract to provide Learning Management System (LMS) support to the Dept. of Defense’s Defense Security Service (DSS).  The LMS will help DSS manage administration of instructor-led and on-line training for DoD employees and contractors.  The contract is potentially worth $4 million.

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Respondents to the Federal Reserve Bank of Richmond’s Maryland Survey of Business Activity say their business outlook has improved with regard to current conditions and for the coming six months.   The index, which uses a point-based measurement system, has been in positive territory since March.

Maryland’s DBED also issued a status report on the local economy that showed unemployment holding steady at 7.2 percent, well short of the national rate of 9.7 percent.

See Fed report.

See DBED report.

HANOVER – Staffing provider Aerotek is the largest U.S. temporary engineering staffing firm, says Staffing Industry Analysts, Inc.  Aerotek’s engineering division alone generated approximately $749 million in temporary staffing revenue for 2008, or about 10 percent of the total U.S. temporary staffing segment.  Aerotek operates more than 150 non-franchised offices.

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JESSUP – The Better Business Bureau recently honored Next Day Blinds with a 2009 BBB Greater Maryland Torch Award for Marketplace Excellence.  The company has 35 showrooms throughout the region.

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ANNAPOLIS – Due diligence research firm HedgeCheck LLC adds two: Christine Skelton and Tracey Foley.   Skelton’s background includes serving as a fraud investigator at The World Bank, and Foley spent nearly a decade with Ernst & Young LLP where she directed research and due diligence efforts investigating various frauds, regulatory compliance efforts and business disputes.

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BALTIMORE – First Mariner Bancorp has found a buyer for its consumer finance subsidiary.  The parent of First Mariner Bank will get about $10.5 million, which will help it increase capital reserves that dropped recently to a level that prompted an FDIC order for a bigger cushion.  New owner MF Holdco, LLC will maintain current staffing and operational levels; First Mariner will continue to operate its more than two dozen branches in the region.

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Fortunately, this Saturday night offers the perfect penance at CASAblanca.  Funds from the black-tie fundraiser will help find stable homes for abused and neglected children in the local court system.  You get a night of revelry with a live auction, and all for a good cause at the Hilton Baltimore BWI.  Check out the event page of the Court Appointed Special Advocate program.

ANNAPOLIS – At today’s meeting of the Anne Arundel Commercial & Industrial Association, Catherine Purple Cherry from Purple Cherry Architects presented a regulatory overview that outlined several pending changes to the real estate development process.  As of December 1, any new project submittal must be compliant with new storm water management rules, and any permit under review must be approved by next May or the process starts over.  For critical areas, new permits are required for any project unapproved but submitted after 2005.  Legislative action is expected before the Oct. 23 expiration date of the bill for the general development plan, to which 34 amendments were submitted.  And, the LEED program is changing in that new applicants will get certified as Green Associates, work for three years on LEED projects and then apply for the LEED credential.  For details on these changes, tolling rules, impact fees, parking and more, email terrie@purplecherry.com for a copy of the presentation.

See Web site.

LINTHICUM – Network specialist Ciena Corporation intends to acquire most of the optical networking and carrier Ethernet assets of Nortel’s Metro Ethernet Networks business for $390 million in cash and 10 million shares of Ciena common stock.  Ciena would get a stronger global presence and customers would have a practical path for making the transition to automated, optical Ethernet-based networking.  The transaction is subject to a competitive bidding process and requires the approval of the United States Bankruptcy Court as a result of Nortel’s restructuring process.  What’s it mean for Anne Arundel?  Less than you think since most jobs will be in Canada.

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