Friday, March 29, 2024 | Baltimore, MD
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Most of Washington region’s remote workers are in private sector

The Washington region has among the highest rates of remote work among major US metro areas, something that was not true before early 2020. Remote work rates are lower than they were at the peak of the pandemic, but they’re persisting at a higher level than before it. While the federal workforce contributes to this increase in remote work, most remote workers are in the private sector. The region’s high levels of remote work are part of a pattern seen in other technology-hub metro areas with large white-collar workforces.

 

Viewpoint: Orioles’ winning season offers plenty of business lessons

The late A. Bartlett Giamatti, a one-time commissioner of Major League Baseball, once wrote of the sport, “It breaks your heart. It is designed to break your heart. The game begins in the spring, when everything else begins again, and it blossoms in the summer, filling the afternoons and evenings, and then as soon as the chill rains come, it stops and leaves you to face the fall all alone.”

Anne Arundel housing bill would reserve portion of new development for ‘essential workers’

An Anne Arundel County Council bill introduced this week would require a portion of all new residential developments with 20 or more units be set aside for people with incomes at or below the Baltimore-area median. Called the “Essential Worker Housing Access Act,” the ordinance would mandate that qualifying new rental developments designate 15% of units for people earning 75% of the area median income or below, and all new for-sale developments with more than 20 units would assign 10% of them for people earning no more than 100% of the area median income.

Greene Turtle opened its first sports betting restaurant in Canton.

The Greene Turtle’s parent company has raised millions to continue its growth plans, which include opening more sportsbook restaurants. ITA Group Holdings recently closed on a $6 million equity round led by TABLE Management, the family office run by billionaire investor Bill Ackman. The investment, raised over the course of three weeks, will be used to expand Greene Turtle’s reach outside of Maryland, along with growing other brands within the parent company’s portfolio.

camden yards, baltimore, maryland
‘Mark my words’: Maryland Gov. Wes Moore defends non-binding Orioles agreement, guarantees a lease will get done

Six days after the Orioles and the state of Maryland announced a 30-year deal to keep the team at Camden Yards and five days after it was revealed that the agreement was a memorandum of understanding, and not a lease, Gov. Wes Moore emphasized the deal’s importance and guaranteed a lease would get signed. “Mark my words, and you can bet on it, the Orioles will be here for 30 years,” Moore said in an impassioned speech Wednesday during a meeting of the Maryland Board of Public Works in Annapolis.

Read More: Baltimore Sun
Ballot issue committee with ties to Sinclair seeks to reduce Baltimore City Council from 14 districts to 8

The ballot issue committee with ties to Sinclair Broadcast Group that put a successful charter amendment to set term limits for Baltimore elected officials is now pursuing a measure that would reduce the size of the City Council from 14 districts to eight. In August, the People for Elected Accountability & Civic Engagement updated its statement of organization to the Maryland Board of Elections to reflect the new ballot measure effort. PEACE’s original statement of organization was to support ballot measures to create term limits for elected officials and recall other elected officials.

Taking charge of the Orioles, John Angelos emerges from his father’s shadow into a harsh spotlight

Back before he was in charge, John Angelos wrote lengthy missives complaining to “ownership” about being underpaid, underappreciated and surrounded by “rank incompetence” and “insane business practices.” He would offer ideas and analysis to “the supreme authority,” Angelos wrote on Feb. 3, 2010, only to be “met with dismissal or combativeness and personal attacks on my shortcomings and alleged ulterior motives.”

Read More: Baltimore Sun
500 Baltimore office cleaners authorize strike as contract nears end

A group of 500 commercial office cleaners in Baltimore voted unanimously Wednesday afternoon to authorize a strike as their contract with a Washington-area contractor is set to expire. The cleaners, who are unionized with 32BJ Service Employees International Union (SEIU) and work in 50 buildings including the 100 Light Street and 250 W. Pratt St. towers owned by COPT Defense Properties, are pushing back on the Washington Service Contractors Association’s proposal to cut 1,100 workers’ shifts across the region from five to four hours.

T. Rowe Price enters private credit market with new $1.5B fund

T. Rowe Price Group Inc. has launched its first fund with Oak Hill Advisors since purchasing the company in 2021 as the money manager looks to expand into the private credit market. T. Rowe (NASDAQ: TROW) recently released a new business development company fund (BDC) with Oak Hill, which T. Rowe purchased for $4.2 billion in its largest-ever deal, called the T. Rowe Price OHA Credit Select Fund, or OCREDIT.

GM secures new $6 billion credit line as UAW strike costs reach $200 million

General Motors secured a new $6 billion line of credit as the automaker braces for additional strikes by the United Auto Workers union. “The facility that we announced today is a $6 billion line of credit that I think is prudent in light of some of the messages that we’ve seen from some of the UAW leadership that they intend to drag this on for months,” CFO Paul Jacobson told CNBC’s Phil LeBeau in an interview on “Halftime Report.”

 

Read More: CNBC

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