Proposal to raze Martick's restaurant property in downtown Baltimore is tabled by preservation commission

Baltimore’s Commission for Historical and Architectural Preservation voted to table a request to raze the former Martick’s Restaurant Francais property in the 200 block of W. Mulberry St. in downtown Baltimore for another month until it gets more information on the proposal. Commissioners said they wanted more time to review engineering plans and determine whether the building could benefit from adaptive reuse. A developer, Park Avenue Partners, had requested permission to tear down the former restaurant and tavern and replace it with an apartment structure. (Balt. Sun)

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Brian Rogers to retire in April from post as chairman of T. Rowe Price

T. Rowe Price Group Inc. announced Wednesday that Chairman Brian Rogers would retire in the Baltimore-based money management firm’s annual shareholders meeting on April 25. T. Rowe President and CEO William J. Stromberg will become chairman of the board at that time. T. Rowe also announced that it was increasing its dividend to 76 cents per share from 70 cents. The dividend will be paid March 29 to shareholders of record as of March 15. (Balt. Sun)

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D.C. drug company sues FDA over clinical trials

D.C.-based Vanda Pharmaceuticals Inc. has filed a lawsuit against the Food and Drug Administration for imposing a partial clinical hold that could ultimately delay approval of a key drug candidate. The complaint, filed Feb. 5 in U.S. District Court for the District of Columbia, challenges the FDA’s requirement that the company perform further chronic toxicity studies in dogs before being able to conduct human studies longer than 90 days for tradipitant, a candidate to relieve symptoms of a chronic gastrointestinal disease called gastroparesis, for which there’s no current treatment. (Balt. Bus. Journal)

 

Tech backers bring infrastructure plan to Md. lawmakers

Improving Maryland’s innovation infrastructure will enable the state to make the technology investments it needs to keep up with states like California and Massachusetts in the innovation economy, members of Gov. Larry Hogan’s administration told the Senate Finance Committee Tuesday. A fund proposed by the Hogan administration would provide public money for innovation infrastructure projects, like cyber ranges, laboratories and co-working spaces. The plan would use these public funds to leverage private capital, potentially through opportunity zones. (Daily Record)

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Maryland lottery and gaming chief: Sports betting is a land rush, not a gold rush

There's plenty of money swirling around in the sports betting sector, particularly since the U.S. Supreme Court gave the go-ahead last year to any state that wants to host wagers. Just look at this year's Super Bowl betting handle in Nevada, where gamblers wagered $145.9 million on the big game — a tepid showing compared with 2018's record Super Bowl handle of $158.6 million. (Balt. Bus. Journal)

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Under Armour 4Q profit beats estimates, driven by international sales

Under Armour Inc. saw its profit exceed expectations in the fourth quarter as inventory continued to decline and international sales continued to grow. The Baltimore sportswear maker reported earnings of $4.2 million, or a penny per share. That's compared to a $87.9 million loss, or 20 cents per share, in the prior-year quarter. Under Armour's operating loss was $10 million. Adjusted for changes in the federal tax law and the impact of the company's restructuring plan, Under Armour's profit was $42 million, or 9 cents per share. Adjusted operating income was $40 million. (Wash. Bus. Journal)

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Gender pay gap persists among Big Law partners

It’s 2019 — and the gender pay gap between male and female lawyers remains a hot topic. High-profile lawsuits alleging pay inequality continue to be filed in federal and state courts across the country. A 2018 partner compensation survey conducted by my employer, global attorney search firm Major, Lindsey & Africa, in conjunction with legal market intelligence and research specialists Acritas, found a 53 percent difference in average pay between male and female lawyers across large U.S. law firms. (Daily Record)

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Wexford to break ground on $77M Arizona State research center in Phoenix

Arizona State University is preparing to break ground on a $77 million research center on the Phoenix Biomedical Campus in downtown Phoenix. Baltimore-based Wexford Science & Technology LLC, a real estate company that builds research and medical centers nationwide, is building the project, which is being financed by Ventas Inc. (NYSE: VTR), a Chicago-based real estate investment trust. The 200,000-square-foot Wexford Science and Technology building is an important step in ASU's expansion of its research footprint in downtown Phoenix and facilitating the growth of private sector investment in bioscience and health technology, said Morgan Olsen, CFO of ASU. (Balt. Bus. Journal)