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Baltimore Business Journal
25 millionaires created by local employee-owned company
"Who's going to be our next millionaire?" is the question CEO Tom Albero says captures the hiring process for Alliance Material Handling Inc.<\p> The Jessup-based fork lift, handling equipment and warehouse systems company is owned by its 286 employees, 25 of whom now have at least $1 million vested in the company's employee stock ownership program, or ESOP. The program began as a solution to two problems: ownership succession and technician retention. It managed to solve both, Albero told the Baltimore Business Journal in an interview, and has also changed the company and its employees while paying out more than $10 million to employees along the way.<\p>
Metro station redevelopment calls for 800+ apartments, retail
A sweeping plan to add over 800 new housing units, retail and a new streetscape around the Reisterstown Plaza Metro station could kick off within 18 months and serve as another game-changer in Northwest Baltimore.<\p> That was the gist of a report released Tuesday that outlined a "vision" to transform a 26-acre state-owned area from a nondescript transit hub into a transit-oriented development, or TOD. The redevelopment would include eight residential and retail towers flanking Reisterstown Road Plaza and would be built by Wabash Development Partners, a team of developers that includes Ernst Valery and Dean Harrison.<\p>
Local cafe to expand with food hall location
As one breakfast stall exits R. House, another is poised to permanently take over the spot at the Remington food hall. <\p> Kitsch Cafe plans to take over a stall that was temporarily home to Doppio Pasticceria next month, the cafe announced Tuesday. The cafe, which plans to open in July, will add to its original spot in the Carlyle Apartment Homes at 500 W. University Parkway.<\p>
These jobs soared during the pandemic and are here to stay
Part-time job listings soared during the Covid-19 pandemic and have yet to recede — a potential sign that both workers and employers see benefits in the arrangements. <\p> Beginning in early 2022, the share of part-time jobs posted on job-search engine Indeed grew 10% before leveling off in 2023. <\p>
NAR settlement means 'summer of uncertainty' for real estate agents
Teresa King Kinney is no stranger to abrupt change in the real estate industry — and the National Association of Realtors' recent settlement is no exception.<\p> She’s been the CEO of the Miami Association of Realtors and its 60,000-plus agents since 1993. In that time, she's navigated several recessions, the Global Financial Crisis and the turbulent, unpredictable Covid-19 pandemic.<\p>
Baltimore restaurant makes New York Times best pizza places list
A Baltimore restaurant has once again made a New York Times list, but this time solely for its pizza.<\p> Little Donna’s in Upper Fells Point was named one of the best pizza places in the country in a list published Tuesday. It is the second time the Baltimore restaurant has been recognized in the last year, with the New York Times including it among America’s 50 best restaurants in 2023. <\p>
8 things to know: Deli chain readies to open downtown
Good morning readers. It's Bluesday, but hey, at least it's not too hot out today.<\p> The lawsuits against AI startups have arrived from some of music's biggest players. Universal Music Group, Sony Music Group and Warner Music Group (three groups, yes) have sued startups Suno and Udio for allegedly using copyrighted music material to train their AI models, the Wall Street Journal wrote yesterday.<\p>
Developer drops lawsuit over purchase of former hotel site
A Baltimore developer has voluntarily dismissed a lawsuit against the owner of a shuttered Hunt Valley hotel property that arose when a deal to buy the site fell through.<\p> Atapco Properties filed notice on June 21 to dismiss the suit against DOF IV Hunt Valley LLC, the owner of the Delta Hotels Baltimore Hunt Valley property. The high-profile 18-acre property, long a destination for travelers and events, remains in limbo following the hotel's closure and the failed purchase. <\p>
City, developer spar over future of Poppleton project
Top Baltimore officials and the developer behind Center\West are trading barbs as the future of the large-scale Poppleton project remains in limbo.<\p> The finger-pointing over the project just west of the University of Maryland BioPark in West Baltimore comes after the city earlier this month terminated an 18-year-old development agreement with La Cite for the 33-acre project. That agreement has so far yielded a 262-unit apartment complex with two additional projects, one for senior housing and another to add 180 market-rate condominiums and townhomes, in the planning stages, but not yet fully funded.<\p>
Senior living provider opens Hunt Valley facility, plans $200M raise
Brightview Senior Living's latest facility in Hunt Valley is the culmination of six years of work and a glimpse at what's to come as the company prepares to launch a major expansion up and down the East Coast. <\p> The Baltimore-based senior living provider opened its 303,000-square-foot Baltimore County location last week after two years of construction and four years of planning and design. The 179-apartment building is divided into three sections: independent living, assisted living, and memory care for people suffering from Alzheimer's or dementia. The facility marks a key step as the company prepares to raise a new, over $200 million fund in 2025, CEO Doug Dollenberg said. <\p>
Longtime Fells Point tavern to change hands
A mainstay Fells Point bar will soon change hands — but the new owner is vowing not to change a thing.<\p> Ale Mary's at 1939 Fleet St. will soon sell to one of the bar's loyal customers, Dan Restum. Current owners Tom and Mary Rivers and Bill Rivers, Tom's brother, said they are exiting the service industry in part because "now it's our time to hang." <\p>
BWI Airport's most-delayed flights
If you're flying from Baltimore and connecting through Dallas or Seattle, you may want to build in some extra time for your travel plans. <\p> The trips from Baltimore/Washington International Thurgood Marshall Airport to Dallas Fort Worth International Airport on Spirit Airlines and Seattle-Tacoma International Airport on Alaska Airlines were the most delayed flights at BWI Airport in March, with just 55% of flights to the western destinations taking off on time. The flight data comes from the latest on-time numbers from Cirium, an airline analytics company, and shows how different routes at BWI Airport compare for on-time flights. <\p>
Bank to close 29 branches nationwide, including three in Maryland
A Texas bank is closing three branches in Maryland as part of a nationwide plan to cut poorly performing locations in 12 states.<\p> Woodlands-based Woodforest National Bank will close two branches in Anne Arundel County and one in Southern Maryland. All three branches are located within Walmart stores, where most of Woodforest's branches are located nationally. <\p>
Consulting firm eyes 'hockey stick growth' after international deal
A Baltimore County consulting company is preparing for rapid growth over the next few years after inking a partnership with an international firm.<\p> Think Consulting, a 150-person Timonium-based firm that provides consulting around hiring, project management, government contracting and other areas, is ready to go global after partnering with Valtus Alliance. The partnership will see Think join Valtus’ 18-country network for placing interim management and C-suite level professionals at companies around the world. Joe Poling, Think’s president and chief revenue officer, said the partnership with Valtus and Think’s recent expansion into the government contracting space has him confident that the company will double in size over the next two to three years.<\p>
Real Estate Insider: First Reservoir Square townhomes ready for sale
The first new residential units at Reservoir Square on North Avenue are expected to hit the market in July.<\p> That's the word from Ryan Homes, builder of the townhomes at the emerging project under a partnership led by MCB Real Estate. Exact listing prices were not available on the Ryan Homes website, but a blurb about the development said the three-story townhouses would start in the "upper $300,000s."<\p>
The Playbook: The disconnect on vacation is getting better
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> While many organizations have embraced hybrid work, there’s a chance it may not be the best option for certain groups of workers. <\p>
Under Armour agrees to pay $434M to settle lawsuit
Under Armour Inc. has agreed to pay $434 million to settle a long-running class action lawsuit alleging that the Baltimore sportswear maker misled shareholders about its financial performance during Kevin Plank's first stint as CEO. <\p> The agreement, which still needs to be approved by the U.S. District Court for Maryland, comes weeks before the case was set to head to trial in mid-July and would bring to an end one of the darker chapters in Under Armour's history just as Plank returns to take the reins. The lawsuit was first filed in 2017 and was brought on behalf of purchasers of Under Armour's (NYSE: UAA) publicly traded shares from Sept. 16, 2015, to Nov. 1, 2019. The suit was dismissed in 2019 but a judge allowed it to be reopened after the U.S. Securities and Exchange Commission launched an investigation into Under Armour's accounting practices.<\p>
New Orleans coffee chain enters Greater Baltimore
A New Orleans chain known for its coffee and beignets opened its first Greater Baltimore store this week, with more planned for the area.<\p> PJ’s Coffee, based in Louisiana, debuted its latest location at 504 S. Camp Meade Road in Linthicum Heights on Thursday. It is the third Maryland location for the chain, which has spots in Silver Spring and Bowie. A Camp Springs location is on the way and another cafe is under construction at the Mall in Columbia, said Tori Jones Bermond, director of franchise development for PJ’s Coffee. <\p>
Baltimore County colleges team up to offer more affordable degrees
Students will soon be able to enroll in two Baltimore County colleges at once, thanks to a new dual-enrollment program launching this fall. <\p> The new Degrees to Succeed partnership between the Community College of Baltimore County (CCBC) and Stevenson University was made official on June 20, giving students a more affordable option to earn a four-year degree. CCBC students who commit to the program as first-year students benefit from admission to both institutions and full access to resources including advisers from each college and Stevenson ID cards to enter facilities, games and student activities. The CCBC students in the program will transfer to Stevenson as juniors after completing their associate’s degree. <\p>
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