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Business

JMI Equity taps new leaders as part of succession plan
February 2, 2021 -

JMI’s new chairman and managing general partner have both been with the firm for more than 20 years and have a wealth of experience investing in software companies. The private equity firm announced Monday the promotions of Paul Barber to chairman and Peter Arrowsmith to managing general partner.

Read More: Baltimore Business Journal
Restaurant roundup: Baltimore City will join state in lifting 10 p.m. dining curfew
February 1, 2021 -

This week brought news of a little more leeway for restaurants as state and local officials slowly loosen Covid-19 restrictions. Starting Monday, local bars and restaurants will be allowed to stay open past 10 p.m., ending a curfew that was instituted in November during a spike in coronavirus cases. Gov. Larry Hogan announced the decision Thursday, saying the state is ready for the step after seeing drops in Covid-19 positivity rates, case rates and hospitalizations since the holiday season surge.

Read More: Baltimore Business Journal
Ellicott City woman provides local, global jobs while creating beauty products for Black women
February 1, 2021 -

Funlayo Alabi believes that shea butter and its devotees — mostly Black women — will revolutionize the beauty industry where Black consumers already account for 86% of the ethnic beauty market, according to Neilsen, a global research company. The Ellicott City resident who owns Shea Radiance, a locally made globally sourced natural beauty brand, is well on her way to doing just that. She’s also creating more than a dozen jobs in the Baltimore region and offering a product that fills a niche for Black women, while employing women in West Africa.

Read More: Baltimore Sun
A plant in East Baltimore is making millions of doses of coronavirus vaccines. But they still have to be approved.
February 1, 2021 -

Covered head to toe in sterile garments, workers inside a modern manufacturing plant in East Baltimore have been making coronavirus vaccine for months — tens of millions of doses that, for now, are being stockpiled with no date set for distribution. None of the vaccines at the Emergent BioSolutions factory has yet been authorized for use. But among the pharmaceutical companies contracting with Emergent is Johnson & Johnson, which reported promising trial results Friday and is expected to submit data to federal regulators within a week for emergency authorization.

Read More: Baltimore Sun
New Downtown Partnership group aims to keep, attract office tenants in Baltimore
January 31, 2021 -

The Downtown Partnership of Baltimore has formed a new group aimed at maintaining existing office tenants and attracting new ones to the central business district. The push is part of a campaign by the nonprofit to help stabilize the downtown area as Covid-19 pandemic restrictions and office closures begin to shift and lift amid vaccine rollouts. T. Rowe Price Group Inc.’s recent announcement that it is moving to Harbor Point and vacating a 450,000-square-foot office at 100 E. Pratt in 2024 is also of concern.

Read More: Baltimore Business Journal
The call of the wild: Baltimore stores selling outdoor gear see a pandemic-era boom
January 31, 2021 -

Out of 43 years in business, 2020 was far and away the most challenging yet for Race Pace Bicycles. The bike shop faced many of the same hurdles as other retailers: a spring shutdown, a pivot toward online sales, establishing new safety precautions for in-person shopping. But one challenge diverged from the experiences of many other businesses. Last year — and even now, as 2021 begins — it’s been hard to keep bikes and bike gear on the shelves.

Read More: Baltimore Business Journal
Sinclair offers first peek at rebranding for Bally’s Sports networks
January 28, 2021 -

Sinclair Broadcast Group Inc. and Bally’s Corp. unveiled the new logos for 19 regional sports networks on Wednesday ahead of a major rebrand slated to take place in the coming months. The unveiling of the new logos and monikers, which will replace the current Fox Sports branding,  comes after Hunt Valley-based Sinclair inked a naming rights deal for its regional sports networks, or RSNS, with casino operator Bally’s Corp. in November.

Read More: Baltimore Business Journal
BWI will re-examine boutique hotel plans in wake of pandemic, CEO Ricky Smith says
January 28, 2021 -

BWI Airport CEO Ricky Smith is taking a new look at the demand for a hotel above the airport’s terminals in the wake of Covid-19. The BWI head acknowledged Wednesday that the pandemic has weakened the hospitality industry for years to come and added a new factor to consider when planning for the project.

Read More: Baltimore Business Journal
Single-Dose Johnson & Johnson COVID-19 Vaccine Would Be A ‘Game Changer,’ Maryland Officials Say
January 27, 2021 -

As states desperately await for more doses of the limited coronavirus vaccines created by Pfizer and Moderna, Maryland Gov. Larry Hogan is hoping that another company will begin producing their version of their COVID-19 vaccine soon. State officials said one of the companies getting closer to production is Johnson & Johnson, who have a contract with Maryland-based Emergent BioSolutions for a covid-19 vaccine.

Read More: WJZ
100 US dollar banknote money
Bank of America awards $750 cash bonuses to employees amid pandemic
January 24, 2021 -

Bank of America Corp. is awarding cash bonuses to employees as a show of support during the pandemic, the bank said in a memo this week. Eligible employees earning $100,000 or less in annual pay will receive a $750 award. Employees making $100,001 to $500,000 per year will receive a stock grant based on compensation, the memo said. These awards are in addition to any regular incentives.

Read More: Baltimore Business Journal

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