Pinched Daily Record owner faces restructuring

The Dolan Co., owner of The Daily Record in Baltimore, has signaled financial distress by hiring a restructuring officer, deciding against paying a dividend and disclosing that it received a warning from the New York Stock Exchange over its low stock price. The Minneapolis-based professional services and business information firm made all three announcements in the last several weeks. Dolan said its new chief restructuring officer, Kevin Nystrom of Zolfo Cooper, will work to "stabilize" its finances. (Balt. Sun)

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Zagat sets sights on Hampden for new retail survey

Zagat is doing a retail survey of Baltimore businesses — and will be paying a visit to Hampden next week aboard a trolley. Though better known for rating restaurants and hotels, Zagat, founded by Tim and Nina Zagat in 1980, also reviews retail stores around the country. The New York-based company has reviewed restaurants in Baltimore before, but will make its first foray into the city's business communities on Jan. 18, when survey teams will be making trolley stops in Hampden, the Inner Harbor, Harbor East and Fells Point, in partnership with the promotional group Visit Baltimore. (Balt. Sun)

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Baltimore Supertrain May Be Getting Closer To Reality

Say goodbye to the slower trains of today and hello to the speedy Maglev Super Train of the future: Japan’s 311-mile-an-hour wonder that could take you from Washington DC to Baltimore in just 15 minutes and to New York City in just 45 minutes more. Japan’s prime minister already promised to help the United States build it—and now WJZ has learned Japan would lend us four billion dollars. (WJZ-TV)

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Firm to be paid $286K to overhaul City Hall's website

City officials are poised to pay a New York-based firm $286,000 to redesign and host Baltimore government’s website. The Board of Estimates is slated to vote Wednesday on a proposal to hire Interpersonal Frequency LLC to overhaul the city’s site. The city's former chief technology officer began a redesign and overhaul of Baltimore's government website in 2012, but left the task unfinished, city officials have said. Interpersonal Frequency, which was among eight bidders for the job, worked with Baltimore’s current Chief Technology Officer Chris Tonjes at his previous job at Washington D.C.’s library system. (Balt. Sun)

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Jos. Bank shareholder to nominate two directors in push for merger with Men's Wearhouse

A large shareholder that is pushing Hampstead-based Jos. A. Bank Clothiers Inc. to negotiate with suitor Men's Wearhouse plans to nominate two company directors at Bank's annual shareholder meeting. Eminence Capital LLC, a New York hedge fund that owns 4.9 percent of Bank stock and is the largest Men's Wearhouse shareholder, asked a Delaware court Monday to force Jos. Bank to consider the rival chain's $1.61 billion hostile bid and to block Bank from acquiring another retailer to derail the bid. (Balt. Sun)

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Jan. 14 // Shareholder moves to force Jos. A. Bank to negotiate with Men's Wearhouse

A New York hedge fund's push to force Hampstead-based Jos. A. Bank Clothiers Inc. to negotiate with suitor Men's Wearhouse could make it more difficult for Bank to fight off the rival chain's $1.61 billion hostile takeover attempt. Eminence Capital LLC, a major shareholder in both companies, asked a Delaware court Monday to force the men's retailer to consider the offer from the Houston chain and to stop Bank from acquiring another retailer to thwart the bid. Eminence, which owns 4.9 percent of Bank's common stock and is Men's Wearhouse's largest shareholder, also sent a letter Monday to Bank's board urging it to pursue the Houston chain's proposed merger. (Balt. Sun)

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Democrat reconsiders minimum wage law when it comes to Six Flags

An effort is underway in Prince George’s County to carve out an exemption to the much-ballyhooed “regional minimum wage” increase passed by lawmakers there, in Montgomery County and in the District last year. County Council member Derrick Leon Davis is expected to introduce a bill Tuesday that would let one of the county’s largest employers, Six Flags, continue to pay its seasonal workers at the lower rate of $7.25 per hour instead of the wage that would increase to $11.50 per hour by 2017. (Wash. Times)

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Md. insurer, seized by regulators, could be liquidated

A Sparks-based insurance company that was seized by Delaware regulators faces possible liquidation in a wild case — one with dueling allegations of fraud, forgery and a vendetta, plus a sanction involving an Aston Martin sports car. Delaware's Department of Insurance said Monday that Indemnity Insurance Corp. is in bad financial shape, and efforts to rehabilitate the company to avoid liquidation "have not been successful." Indemnity's founder — who contends the company is financially solid — said the regulator has indicated in court that it wants to move this week to liquidate the firm. Indemnity is a significant player in the insurance niche for bars, taverns and nightclubs. The months-long situation has left some local businesses in the lurch. (Balt. Sun)

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