Friday, September 20, 2024 | Baltimore, MD
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United Therapeutics reports ‘best quarter’ to date. Here’s what comes next.

United Therapeutics Inc. opened 2022 with a big splash in the organ transplantation arena, but it’s not the only reason Chairperson and CEO Martine Rothblatt called the first few months “the best quarter we have ever reported” for the business. That conclusion considers “not only profits,” but also “patients and our contributions to our planetary community,” Rothblatt said on a first-quarter company earnings call Wednesday. The Silver Spring drugmaker reported $461.9 million in revenue for the first quarter, up 22% from $379.1 million in the first quarter of 2021, with nearly a quarter-billion dollars in quarterly profits, Rothblatt, also UT’s founder, said on the call.

Franchising Social Equity

Curio Wellness, a vertically integrated Maryland medical cannabis company, gives us an example of how this franchising model could operate. Curio created a social-equity fund that would allow applicants to own the franchise. The 30-million-dollar fund will be able to provide up to 93 percent of the startup capital needed for a location, meaning that the applicant needs much less of their own initial funding to get involved. In their model, franchisees “start out by owning 60 percent of a Curio store outright, with Curio corporate taking a 40 percent equity position,” according to Franchise Times.

Read More: Rolling Stone
150 workers at Laurel Park, Pimlico get raises with new union contract

A union representing more than 150 workers at Laurel Park and Pimlico Race Courses said Tuesday that it members voted “overwhelmingly” to ratify a 3-year contract with Maryland Jockey Club. “We are all proud of what we’ve accomplished in this new contract,” UFCW Local 27 President Jason Chorpenning said in a statement. The deal provides wage increases and improved health benefits for betting window tellers, parking lot attendants, security officers and more, according to a press release from the Stronach Group, which owns the Maryland Jockey Club. The company said it is continuing to negotiate with unionized food and beverage employees.

Read More: Baltimore Sun
EAGB head Michele Whelley to revive consulting company after departure

Michele Whelley is leaving her post as CEO of the Economic Alliance of Greater Baltimore on Friday as the economic development organization moves toward a merger with the Greater Baltimore Committee. Whelley will revive M.L. Whelley Consulting LLC, the economic development consulting firm she ran before she took over at the EAGB three years ago. “My time heading EAGB has been one of the most rewarding chapters of my economic development career,” Whelley said, in announcing her departure on Tuesday.

Maryland Stadium Authority agrees to give Orioles all profits from Paul McCartney concert

The Baltimore Orioles don’t want to share profits from the upcoming Paul McCartney concert at Oriole Park at Camden Yards with the state of Maryland, saying the profit-sharing agreement is a “significant disincentive” to attracting future events to the stadium. The Maryland Stadium Authority on Tuesday said it has decided to “acquiesce” to the Orioles’ request by having the state opt out of “financial participation” for the June 12 concert. The authority’s board voted unanimously on the deal with the team.

Apple store in Maryland becomes third to launch union drive

A group of Apple employees in Maryland launched a union drive Tuesday, becoming the third store to make a run at organizing the world’s most valuable company. Organizers at the Towson Mall store near Baltimore say they have been drumming up support for nearly a year in coordination with the International Association of Machinists and Aerospace Workers, two employees and a union organizer said. They say they have signatures from more than 65 percent of employees who are likely to be eligible, giving them a “supermajority” that would be difficult for the company to overcome.

Next Step In Margaritaville Project Approved

The proposed Margaritaville project inched closer to becoming a reality this week with resort officials accepting the findings of fact from the Planning Commission despite some misgivings about the square footage required for a planned overlay district. The Mayor and Council had before them on Monday a revised and updated findings of fact from the planning commission for the planned overlay district (POD) for the proposed Margaritaville Hotel and Conference Center, which would encompass an entire city block downtown on the oceanside facing the Boardwalk between 13th and 14th streets.

Medifast CEO wants ‘much larger share’ of wellness market as sales grow 23%

Medifast Inc. got 2022 off to a strong start after reporting 22.6% sales growth in the first quarter as the company continues its ascent within the weight-loss industry. The Baltimore-based maker of dieting and weight-loss products reported record sales of $417.6 million in the first quarter, compared with $340.7 million in the year-ago period. On the bottom line, Medifast’s profit increased 1.7% to $41.8 million, or $3.59 per share, compared with $41.1 million, or $3.46 per share, in the prior-year quarter.

Morgan State Names First Woman Athletic Director

Dena Freeman-Patton has been named Morgan State University’s director for intercollegiate athletics, becoming the first woman to oversee the historically Black university’s sports teams, President David K. Wilson said Tuesday. A Baltimore native, Freeman-Patton most recently served as associate vice president and director of athletics at California State University, Dominguez Hills. Prior to that, she held positions in the athletic departments at the University of New Orleans; California State University, Bakersfield; and Georgia State University. She also also served as director of academics and career development at the University of Maryland.

Read More: WJZ-TV
Items from Cafe Hon’s 30 years on the Avenue head to auction

Cafe Hon closed its doors last week after 30 years in business, but fans of the quirky Hampden restaurant can still get their hands on a piece of its decor. The cafe is auctioning off furniture, decorations and equipment as owner Denise Whiting clears space for a Foreman Wolf restaurant that is slated to take over the corner building at 1002 W. 36th St., on the neighborhood’s lively restaurant and retail stretch nicknamed the Avenue.

The Morning Rundown

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