Business

Achieving the aggressive offshore wind power goals of the federal government and individual states will require billions of dollars in spending on transmission infrastructure, “unprecedented” cooperation between grid operators and federal and state agencies, and would be aided by major buildout of a domestic supply chain, per a pair of recent reports. Coastal states across the country, from California to Louisiana to Maine, are pushing for offshore wind projects, but the reports see potential bottlenecks looming, both in the supply chain to build and install turbines as well as in the ability to bring the electricity ashore

Deloitte’s philanthropy arm is expanding its scholarship program for students pursuing master’s degrees in accounting at the University of Maryland to diversify the future talent pool of certified public accountants. The Deloitte Foundation Accounting Scholars Program is adding the University of Maryland’s Robert H. Smith School of Business into the mix, now eligible for a $30 million pot of scholarship funding disbursed over the next few years. The Smith School and other institutions partner with the Deloitte Foundation on covering 100% of tuition for the students who are selected.

There’s a transformation in progress along Howard Street that should warm the hearts of anyone who knew this neighborhood as a bustling downtown shopping destination. A $10 million restoration of the old Pollack’s furniture showroom is now in its seventh month of a painstaking refurbishment. It has been renamed Crook Horner Lofts, a reference to the old plumbing supply house that did business in the 1890 structure. The building is becoming 15 units of expansive loft-work apartments. With 14-foot high ceilings and dramatically arched windows in some flats, this building references the days when it served as Pollack’s furniture and rugs retail store — after the bathtub and pipe seller moved on.

AeroVanti, an Annapolis luxury flight club, is expanding beyond the skies into the sea to bring a touch of James Bond-chic to Maryland. The rapidly growing travel company has launched the AeroVanti Yacht Club, a venture that offers three vessels for charter. The boats will be rented similar to how planes are chartered through AeroVanti, with a professional captain and crew on board. The most notable vessel is the “Casino Royale,” the same type of Sunseeker Predator that appeared in the 2006 James Bond movie “Casino Royale” as the main base of the villainous Le Chiffre. The two other boats are smaller than the 108-foot ship made famous by Hollywood, a 50-foot sportfishing boat, and a 50-foot sailing boat.

The law firm of Peter Angelos, the incapacitated owner of the Orioles who made his fortune suing companies on behalf of asbestos victims, will go into conservatorship amid a feud that has split his family. With his son, Louis Angelos, sitting on one side of the courtroom opposite the family members he sued, his brother, John Angelos, the Orioles chairman and CEO, and their mother, Georgia Angelos, Baltimore County Circuit Judge Keith R. Truffer accepted an agreement Thursday that the lawyers had hashed out in the hallway.

McCormick & Co. Inc. CEO Lawrence Kurzius said the company is cutting 10% of its American supply chain staff as it looks to boost profits in a tough business environment. Kurzius told analysts that McCormick (NYSE:MKC) is reducing staff from its manufacturing, warehouse and distribution center departments. The cuts come as the company raised its cost savings target from $100 million to $125 million, with $75 million of those savings to be seen in 2023.

Having assumed executive leadership of the Prince George’s County Chamber of Commerce, Alexander Austin faces several challenges, including helping the organization find its post-Covid footing and discerning and navigating a changed political context with a newly elected county council. Austin, a Prince George’s native, began his new job Dec. 19, succeeding David Harrington, who died suddenly in September, having helmed the chamber for 11 years and only just begun a new job for Kaiser Permanente Mid-Atlantic Region.