Buyer scoops up Fells Point Creamery building before auction

A high-profile restaurant property near the waterfront in Fells Point sold last week before it was opened to bidding during an online auction. Baltimore-based G&H Properties said in August that it would put the building — a 100-year-old restaurant and retail spot at 821 S. Broadway — on the auction block. G&H was seeking to move on amid ongoing struggles by retail and restaurant tenants during the Covid-19 pandemic, according to Alex Cooper Auctioneers. (Balt Bus Journal)

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Flying Dog releases coffee-inspired beer

Frederick brewery Flying Dog partnered with Washington-based Vigilante Coffee Co. to release Kujo, a cold press coffee porter, brewery officials said Wednesday. Kujo offers nutty, roasted malts steeped in sweet, chocolate-forward coffee, giving this autumnal monster its trademark smooth and velvety cocoa finish. Creating Kujo was a joint effort between Flying Dog Brewery and Vigilante, which has locations in Hyattsville and College Park. (Daily Record)

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Foreman Wolf to open new restaurant at Canopy by Hilton in Baltimore’s Harbor Point following coronavirus delay

Baltimore restaurant group Foreman Wolf is branching into new territory — hotel dining. The group behind Charleston, Petit Louis and Bin 604 wine shop will oversee the food and beverage program at the Canopy by Hilton in Baltimore’s Harbor Point neighborhood, including a new restaurant that offers sweeping views of the Inner Harbor. (Balt Sun)

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Under Armour discloses 600 layoffs as it announces $75 million increase in restructuring costs

Under Armour expects to lay off about 600 global employees this year as part of its ongoing restructuring plan. The layoffs were disclosed in a federal securities filing Tuesday in which the Baltimore-based company said it is increasing the cost of that plan by $75 million. Under Armour’s board approved the additional spending Sept. 2, bringing the cost of restructuring to about $550 million to $600 million, the filing said. (Balt Sun)

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Novavax, Other Pharmaceutical Companies Pledge To Hold Off On Coronavirus Vaccine Until It’s Proven To Be Safe

Novavax is one of nine pharmaceutical companies pledging to make the safety of vaccinated people the top priority in the development of the first COVID-19 vaccines. The Gaithersburg-based company claims to follow science, and not a political push, for a timeline of when it’s safe to release a vaccine. (WJZ-TV)

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Activist shareholder files federal lawsuit against First United Bank & Trust

An activist shareholder pushing for a sale of First United Corp. has filed a federal lawsuit against the Western Maryland bank and its board of directors alleging they abused regulatory processes and breached their fiduciary duties to win a proxy fight. Driver Management Co., a New York-based investment firm with a 5.16% stake in First United, filed its lawsuit in the U.S. District Court for Maryland on Sept. 4. Driver Management accuses the bank of "squandering corporate resources" to deprive Driver of its voting rights and ensure that there were no challenges to the election of First United's incumbent board directors. (Balt Bus Journal)

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Maryland casino monthly revenue down $4.7M compared with last August, but Hollywood, Rocky Gap see gains

Despite operating at only 50% capacity, Maryland’s casinos made $149.5 million in revenue last month, about $4.7 million less than in August 2019. According to the Maryland Lottery and Gaming Commission, Maryland’s six casinos made a combined $149,549,000 in August 2020 compared with $154,260,719 in August 2019. In a news release, the commission touted the industry’s strength despite the ongoing coronavirus pandemic, which forced casinos in the state to close before reopening in a limited capacity in June. (Balt Sun)

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Chasen Companies begins work on a 25-unit apartment hub downtown

A conversion is in the works to turn a stately law office building into 25 boutique apartments near the Clarence M. Mitchell Jr. Courthouse downtown. The $7.5 million redevelopment at 211 St. Paul Place began this summer, led by Chasen Cos., a local developer known for converting older and historic buildings around the city into boutique apartments. (Balt Bus Journal)

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