Baltimore and International Business

[Itus]

French firm seeks nuclear business of CEG
Offer comes as shareholders are set to vote on $4.7 billion sale to MidAmerican

By Hanah Cho | hanah.cho@baltsun.com
8:30 PM EST, December 2, 2008

French utility Electricite de France, rebuffed in its efforts to acquire Constellation Energy Group, is expected Wednesday to offer to buy 50 percent of Constellation's nuclear power business for nearly the same price that MidAmerican Energy Holdings Co. would pay for all of Constellation, sources familiar with the situation said late Tuesday.

EDF is Constellation's largest shareholder and partner in new nuclear development. On Dec. 23, Constellation shareholders will vote on the $4.7 billion transaction with MidAmerican, which is controlled by billionaire Warren Buffett.

"It definitely clouds the picture and gives the shareholders something to contemplate," said Paul Justice, an analyst with Morningstar.

EDF is also proposing to provide Baltimore-based Constellation an immediate $1 billion cash infusion, an investment that would be credited against the $4.5 billion purchase price of the nuclear assets.

EDF's proposal would require review by the Nuclear Regulatory Commission and the Committee on Foreign Investment in the United States; it's less clear whether it would require approval by Constellation shareholders or review by the Maryland Public Service Commission, which is examining the MidAmerican transaction.

Constellation, one of only two Fortune 500 companies based in the Baltimore region, would remain a publicly traded company headquartered in Baltimore if the board accepts EDF's offer, according to the sources.

Constellation would be left with Baltimore Gas & Electric, the utility that serves 1.1 million electric and gas customers in Maryland; its coal- and natural-gas power generation business; its commodities trading operations and half the nuclear business.

Constellation's nuclear assets include the Calvert Cliffs units in Southern Maryland and the Nine Mile Point and R.E. Ginna plants in New York state.

EDF's offer for half the nuclear unit puts the total value of Constellation at $52 a share, nearly double MidAmerican's $26.50-per-share bid, the sources say.

MidAmerican's bid is for one-fourth of Constellation's market value at the beginning of the year.

Constellation sold itself to MidAmerican in mid-September to avoid bankruptcy as it faced a liquidity crisis in the commodities trading operations. As part of the deal, MidAmerican provided an immediate $1 billion cash cushion.

Constellation picked MidAmerican's bid over EDF's $35-a-share offer with two American private equity firms, contending that MidAmerican's offer was superior because of Buffett's stabilizing effect on a skittish market and the likelihood of easier regulatory approval.

In filings Tuesday, Constellation painted a bleak outlook for its survival if shareholders don't approve the deal with MidAmerican, including losing $1.4 billion in financing.

"We are focused on completing our merger with MidAmerican Energy Holdings and, beyond that, we cannot comment on market rumor and/or speculation," Constellation spokesman Rob Gould said Tuesday night.

Several state officials, including Gov. Martin O'Malley, welcomed the Constellation sale to MidAmerican as a way to avert a potential crisis. Buffett met with O'Malley on Sunday night at the governor's mansion in Annapolis in what aides described as a "get-to-know-you" session.

O'Malley said they did not discuss the regulatory process.

"They still have to go through that regulatory process at the Public Service Commission," O'Malley said. "Our conversations were much broader and related to our country's energy future really. It was a much more macro and global conversation than the details of PSC approval."

But in recent weeks, some shareholders have wondered whether Constellation would survive as a stand-alone company, given that it is trying to raise added cash through asset sales and reduce exposure to its risky commodities-trading operations.

And shareholders have filed more than a half-dozen lawsuits against Constellation and its management, saying the $26.50-per-share price is too low.

After mulling its options, EDF decided not to make another bid in October, citing the difficult credit market. But EDF also left a small opening, saying it would review all possibilities.

EDF nearly doubled its stake in Constellation to 9.5 percent in August, paying $68.49 per share. It lost more than $340 million in three weeks under the offer from MidAmerican.

The state-controlled French company has been taking steps to protect its equity interest as well as its joint venture with Constellation to build new nuclear reactors in the United States.

It has a voice in the regulatory approval process at the PSC, which plans to make a decision about the MidAmerican deal by April 15. EDF hired a Washington attorney who is a former PSC chairman to represent the company before the PSC. It also hired Annapolis lawyer Joel. D. Rozner of Rifkin, Livingston, Levitan & Silver to be its local lobbyist.

"This is the kind of competitive situation that Senator E.J. Pipkin and I have been urging for two months," said state Sen. Jim Rosapepe, a Prince George's Democrat. "The best way for ratepayers to get a good deal is for there to be competition between potential acquirers of Constellation and its assets."

The PSC has said it would take a broad look at the effect of MidAmerican's offer on Maryland ratepayers, including weighing arguments about whether a "concrete and viable" alternative buyer would be a better choice.

"It does sound like they [EDF] might be putting some money where their mouth is," said Paul Patterson, an analyst with Glenrock Associates in New York. "I'm not sure how this fits with the political and regulatory environment in Maryland."

If it terminates its deal with MidAmerican, Constellation would have to repay MidAmerican's $1 billion investment, plus 14 percent interest, and also pay a $175 million "break-up" fee. MidAmerican would get a 9.9 percent stake in the company and $418 million in cash for stock that cannot be issued due to regulatory limits.

Constellation shares rose $1.22, or 5.1 percent, to close at $25.15 Tuesday.

http://www.baltimoresun.com/business...,4924482.story

[rockin'.baltimorean]

hmmmmm, not sure what to think of this. i'm not sure if having a foreign company take over CEG is a good thing.....

[Itus]

Maryland Port Administration to sign 10-year deal with Finnish paper maker UPM-Kymmene
Baltimore Business Journal - by Scott Dance Staff

Gov. Martin O’Malley will sign a long-term agreement with Finnish paper maker UPM-Kymmene on Thursday, ensuring that the company’s cargo will ship through Baltimore for the next decade.

It will be the Maryland Port Administration’s first 10-year agreement for imported forest products, for which the port already ranks first nationally. Two other paper companies committed to the port earlier this year to boost its paper cargo totals of about 700,000 tons per year.

Port officials did not say how much cargo the UPM-Kymmene deal would bring or how many jobs it would create. O’Malley is scheduled to announce the contract at 2 p.m. Thursday at the South Locust Point Marine Terminal.

Port administration Executive Director James J. White said in an interview last week that the port has been working to bring more long-term paper business. While other recent deals have been a boon, a 10-year deal was the goal because it would bring more stability and jobs, he said.

The port administration opened a 215,000-square-foot paper warehouse for another Finnish paper company, M-real, in January. That facility came along with a six-year commitment from the company worth 300,000 tons of paper per year.

The port also signed a one-year deal in February with European paper company Myllykoski, bringing another 100,000 tons of paper.

State-owned port terminals received 680,000 tons of imported paper products in 2006 and 559,000 tons in 2007.

The port employs 16,000 workers.

12/3/08
http://www.bizjournals.com/baltimore...d=lfn&brthrs=1

[NorthaBmore]

World Stem Cell Summit 2009 Will Be Jointly Held by UMD and JHU Here In Baltimore

Baltimore will host the 2009 World Stem Cell Summit, solidifying its position as one of the nation's foremost crucibles for bioscience research, Gov. Martin O'Malley and other officials announced today.

The summit, to be held over three days in September, is expected to bring together more than 1,200 scientists, companies and foreign government emissaries to share information in the fast-emerging field of stem cell research. The science is also expected to get a boost if President-elect Barack Obama reverses President George W. Bush's restrictions on federal funding for research on human embryonic stem cells, as expected.

"While certainly there will always be ethical questions around this, I think much of the controversy will subside with Barack Obama as our new president," O'Malley said at a stem cell symposium this morning at the Johns Hopkins Applied Physics Lab in Laurel. "He will put our federal government back in the business of developing new science, new research and new healing capacities."

O'Malley has endeavored to make Maryland a hub for biotechnology and this year announced plans to invest $1.1 billion over the next decade in the research by building on existing tax credits and grant programs, including $20 million annually for stem-cell studies. In the last three years, Maryland has set aside $56 million for stem cell research, an effort shared by several other states filling the vacuum of federal money.

(This was originally posted by PeterSmith on the Baltimore Development Thread)

[Ty Doggie]

Originally Posted by rockin'.baltimorean

hmmmmm, not sure what to think of this. i'm not sure if having a foreign company take over CEG is a good thing.....

Did the shareholders approve of the takeover?

[Itus]

Originally Posted by Ty Doggie

Did the shareholders approve of the takeover?

I believe December 23 is the date they vote on the MidAmerican deal.

[Itus]

Premier Rides to build roller coaster in Asia
Baltimore Business Journal - by Ryan Sharrow Staff

Premier Rides Inc. was awarded a contract worth more than $20 million to build a steel indoor roller coaster at a new amusement park in Southeast Asia.

The “Revenge of the Mummy” ride at Universal Studios Singapore marks the third time the Millersville-based company will manufacture the signature ride. Premier Rides, which employs 40, built the attraction for both the Universal Studios Florida and Hollywood, Calif., locations.

The $1 billion Universal Studios Singapore theme park is slated to open by 2010. The park is being developed at the Resorts World at Sentosa, a subsidiary of Malaysia-based Genting International PLC., a leisure company.

Earlier this year, Premier landed the largest contract in the company’s history to design and build a 300-foot-tall Ferris wheel at a $2.3 billion New Jersey entertainment complex known as Xanadu. The value of that contract was “significantly above” $20 million, company president Jim Seay said.

12/12/08 (Print edition)
http://www.bizjournals.com/baltimore/stories/2008/12/15/story10.html?b=1229317200^1746549

---
The company is based in Millersville, MD (not too far south of BWI)

[Itus]

French firm EDF charts future in Maryland

By Robert Little | robert.little@baltsun.com
December 18, 2008

The deal that rescued Constellation Energy Group Inc. yesterday from extinction, ensuring for now a Baltimore future for one of the city's major corporate headquarters, will also lead to the arrival of a new corporation in Maryland with plans to foster an American "renaissance" in the development of nuclear power.

Electricite de France, the French utility giant that agreed to a $4.5 billion partnership with Constellation, said it plans to move its American headquarters to Maryland to lead its expansion into U.S. energy markets. While the move is modest - the operation now employs 12 people in Washington - the company's global plans are not, and analysts described yesterday's announcement as a landmark expansion for the French.

"It's an essential deal for EDF to execute its strategy of becoming one of the leading nuclear power players in the world," said analyst Peter Wirtz of WestLB Research, based in Dusseldorf, Germany.

The company is already a partner with Constellation in plans for four new reactors in the United States, beginning with a third reactor at the Calvert Cliffs plant in Southern Maryland. None of the U.S. reactors has received regulatory approval.

Under the new deal it will also become a 49.99 percent owner of Constellation's existing nuclear facilities, in Maryland and New York. Yesterday it also pledged to spend $20 million to build a visitor and environmental center at Calvert Cliffs.

"I think it's very important for us to be in Maryland and so we have made that commitment," said Jean-Pierre Benque, senior executive vice president for EDF North America.

The Paris-based utility is the world's largest owner of nuclear power plants, with a portfolio that includes 58 reactors in France alone and 17 percent of the world's nuclear power generation. France generates most of its electrical power from nuclear energy, and EDF - 85 percent of which is owned by the French government - has ambitious plans to expand in other countries, including China, Britain and South Africa in addition to the United States. According to EDF's public financial statements, the company has plans to invest $65 billion in new nuclear power plants by 2020.

"EDF is enormous. So the amount of expertise they have in nuclear power is enormous," said Peter Cramton, a professor of economics at the University of Maryland, College Park who advises EDF in designing European electricity auctions. "In my mind, it's very attractive to bring another party with nuclear expertise to the United States."

The Constellation deal follows an $18.5 billion EDF takeover of British Energy Group - Britain's largest electricity producer, with eight nuclear plants - announced in September. Other EDF investments include controlling stakes in two gas fields in the North Sea and investment in a Turkish wind farm.

The company, with $86 billion in sales last year and 158,000 employees worldwide, has been a determined player in alternative power technologies such as nuclear, wind and solar, and says 95 percent of its power plants in France don't emit any carbon dioxide. The company hopes to export its model of powerful, hyper-efficient reactors similar to its flagship Evolutionary Power Reactor in Flamanville, France, which it plans to begin operating in 2012.

It plans the first Chinese version in 2013, the first American version at Calvert Cliffs in 2016, and a British plant in 2017. Through its UniStar joint venture with Constellation, EDF hopes to build more U.S. reactors in New York, Missouri and Pennsylvania.

"They are committed to a noncarbon economy," said state Sen. Jim Rosapepe, a Democrat and a leading voice on energy issues in Maryland.

As a foreign company, EDF will face hurdles from regulators, including a review by the federal Nuclear Regulatory Commission. And as a nuclear power company, it will face opposition from environmental and public interest groups, some of whom are already speaking out.

"Investing billions of dollars in another nuclear power plant is going to distract us from the real solutions," such as energy efficiency and renewable sources, said Johanna Neumann, state director for the Maryland Public Interest Research Group, a consumer and environmental advocacy organization.

"Are we willing to put the Chesapeake Bay in the hands of such a foreign-controlled company for a few more cents on the stock share? I think not," said Andy Galli, Maryland coordinator for Clean Water Action.

But as an investor in Constellation, EDF was largely well-received yesterday. David J. Hammond, a BGE shareholder and former employee, said he thinks Constellation can have a strong future in partnership with the French utility.

"The future is with nuclear power and with EDF, a French company on the leading edge of developing nuclear power," he said.

Hanah Cho, Laura Smitherman, Lorraine Mirabella, Jay Hancock and the Associated Press contributed to this article.

electricite de france •2007 sales: $85.8 billion

•2007 net Income: $8.1 billion

•Number of employees: 158,000

•Headquarters: Paris

•Locations: France, United Kingdom, Italy, Germany, Switzerland

•Number of customers worldwide: 38 million (28 million in France)

•Assets: $272.4 billion

About EDF: The French company generates and distributes nuclear, hydraulic, wind, solar and geothermal energy to more than 38million customers in Europe and operates 58 nuclear reactors in France.

http://www.baltimoresun.com/business...,3982657.story

[Itus]

From the Yomiuri Shimbun:
http://www.yomiuri.co.jp/sports/mlb/...OYT1T00140.htm
Yomiuri homepage shot:
image hosted on flickr


A quick glance didn't show anything on the Asahi though.

Baltimore Sun articles:
http://www.baltimoresun.com/sports/b...,3609348.story

http://www.baltimoresun.com/sports/b...0,359954.story

Quote from the last article: "About 35 Japanese media members attended the news conference, which was broadcast live on the Orioles' team-owned regional cable network."

This kind of attention only helps introduce Baltimore a bit better to the Japanese I'd hope.

[PeterSmith]

Pretty cool. The O's have been slow to acquire talent from non-traditional baseball markets. A few months ago, the Yankees (I think?) signed two Punjabi pitchers from India. As if the Yankees needed anymore worldwide exposure.

Maybe they'll start selling the new "Baltimore" jerseys in Japan.

[Itus]

Originally Posted by PeterSmith

Pretty cool. The O's have been slow to acquire talent from non-traditional baseball markets. A few months ago, the Yankees (I think?) signed two Punjabi pitchers from India. As if the Yankees needed anymore worldwide exposure.

Maybe they'll start selling the new "Baltimore" jerseys in Japan.

I definitely feel the same way. I have no idea why the O's were so slow on getting in on this

[vivo]

Originally Posted by PeterSmith

Pretty cool. The O's have been slow to acquire talent from non-traditional baseball markets. A few months ago, the Yankees (I think?) signed two Punjabi pitchers from India. As if the Yankees needed anymore worldwide exposure.

Maybe they'll start selling the new "Baltimore" jerseys in Japan.

I think you are talking about the pirates. On of them has what I think is just a Gujarati surname, Patel. Singh isn't just a Punjabi surname.


http://www.usatoday.com/sports/baseb...ers-sign_N.htm

Cars Auto Financing Event Tickets Jobs Real Estate Online Degrees Business Opportunities Shopping
Search
How do I find it?

Subscribe to paper


* Home
* HomeHome
* NewsNews
* TravelTravel
* MoneyMoney
* SportsSports
* LifeLife
* TechTech
* WeatherWeather

* Sports »
* MLB
* Fantasy
o Fantasy MLB Home
o News
o Columns
o Team Profiles
o Injuries
o Transactions
o Probable Pitchers
o Depth Charts
o League Leaders
o Sortable Stats
o Rotisserie Corner
* Team Pages
* Scores
* Box Scores
* Standings
* Statistics
* Schedules
* Matchups/Odds
* More Baseball
o Salary Database
o Injuries
o Rosters
o Depth Charts
o Probable Pitchers
o Minors
o Calendar
o Transactions
o Archive
o MLB Tickets

Pittsburgh Pirates

NEWS AND INFORMATION Team report Schedule/results Roster Depth chart
Player notes Injuries Transactions Buy Tickets
IN-DEPTH STATS Individual stats Sortable stats Day/night Grass/turf Home/road
Runners on/bases empty Lefty/righty Late inning pressure

Related Advertising Links What's This?
1 Flat Stomach Rule: (Obey Now)
I cut out 2 lbs of stomach fat per week by obeying…
PennysDietingBlog.com
Drop 20 Pounds Fast! Oprah Scored it #1
Oprah: Colon Cleansing #1 for Weight Loss. Free…
YouCanLoseWeightToo.com
Advertisement
What's this?
Buy tickets to premium and sold out events

Call us at: 800-927-2770
Updated 12/1/2008 11:54 AM | Comments 11 | Recommend 3 E-mail | Save | Print | Reprints & Permissions | Subscribe to stories like this
Rinku Singh throws batting practice during a workout earlier this year at USC's baseball field. Singh and Dinesh Patel, both from India, were offered contracts by the Pittsburgh Pirates on Monday.
Enlarge image Enlarge By Robert Hanashiro, USA TODAY
Rinku Singh throws batting practice during a workout earlier this year at USC's baseball field. Singh and Dinesh Patel, both from India, were offered contracts by the Pittsburgh Pirates on Monday.
Novice pitchers from India sign with Pirates

o Yahoo! Buzz
o Digg
o Newsvine
o Reddit
o Facebook
o What's this?

By Bob Nightengale, USA TODAY
Dinesh Patel and Rinku Singh, cricket players who had not picked up a baseball until April, on Monday became the first athletes from India to sign professional baseball contracts, agreeing to deals with the Pittsburgh Pirates.

DETAILS: Pitchers were chosen based on reality show

"This is very intriguing for us," Pirates general manager Neal Huntington said. "We are trying to broaden our horizons internationally and to get into some non-traditional markets. I've always been curious about India, knowing they have a cultural passion for cricket, which involves throwing, hitting and running. We want to see how that translates to baseball.

"This organization benefited in Latin America when we signed Roberto Clemente, and hopefully with their success, we'll see more athletes coming from India."

Patel, 19, and Singh, 20, said Monday they never heard of Clemente, let alone Pittsburgh, when the Pirates called last week. They went to the Internet, found the city on the map, and then spent hours exploring the Pirates' website.
FIND MORE STORIES IN: United States | Internet | Florida | Pittsburgh Pirates | India | Latin America | mid-January | Bradenton | Roberto Clemente | Neal Huntington | Jeff Borris | Patel | Rinku Singh | Million Dollar Arm

"It's a dream come true," said Patel, whose fastball was clocked at 93 mph in a second workout last week, according to Huntington.

Jeff Bernstein, a promoter who discovered the pitchers in a Million Dollar Arm contest in India, said he took Patel and Singh to a nearby sporting goods store where they bought Pirates hats and shirts. They even went to a jeweler and purchased black and yellow watches, colors of the Pirates.

"We're very happy that we get to stay together," Singh said. "This will make it easier for both of us."

Their agent, Jeff Borris, said he told teams it wasn't a requirement that the pitchers be signed by the same team.

"Pittsburgh showed the most vision of any club I spoke with," said Borris, who declined to divulge their signing bonus. "These guys are raw. Who knows where they'll be when they're 23.

"But ultimately, what I would like to see happen is they pave the way for other athletes to come from India to the United States."

Huntington said Patel and Singh are scheduled to report in mid-January to Bradenton, Fla., where they will work out with the Pirates' instructional league team. They realize they are years away from contending for a big-league job but refuse to let their lack of baseball acumen deter them.

"We will work every hard to make this happen," Patel said. "We want to make our country proud."
Share this story:

Yahoo! Buzz Digg Newsvine Reddit FacebookWhat's this?

Posted 11/24/2008 7:12 PM
Updated 12/1/2008 11:54 AM
E-mail | Save | Print | Reprints & Permissions | Subscribe to stories like this
To report corrections and clarifications, contact Reader Editor Brent Jones. For publication consideration in the newspaper, send comments to letters@usatoday.com. Include name, phone number, city and state for verification.
Guidelines: You share in the USA TODAY community, so please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Use the "Report Abuse" button to make a difference. Read more.
You must be logged in to leave a comment. Log in | Register
Comments: (11)
Showing:

User Image
jeannettepaman wrote: 11/30/2008 2:05:10 PM
I can't take it anymore,, please more the pirates out of town............ it can only be that reason for all of your executive decisions.
looks like another twenty years for a playoff team.

Recommend | Report Abuse
User Image
mattzgrp wrote: 11/29/2008 12:01:04 AM
Will India become the new hotbed where mlb will build multi-million dollar facilities to develope players. Well let's see; a billion citizens, impoverished countrysides, lot's of potential specimen, minimum investment for human capital, huge upside if mlb can identify & develope talent, and best of all, a huge fan base if they can make it all work. The next Cuban, Dominican, Venezulan explosion, and the death nail for african american players. As if it was not dead already. Are there two pitchers in HBCU's who can throw consistently in the high 80's low 90's for strikes that HAVE played the game on elite levels and, could benefit from two months of training under a guru pitching coach and finally, kick tail & take names in a showcase in front of 38 mlb gm's? Hell yeah, I've go nine guys and you don't have to go to tim buck too & spend a million dollars to find them. Just call me at 708 473 7508. Hopefully mlb is ready for a change like the us government is. In 1959 ther were 18% african american players in mlb. Today, 5%. In div 1 college baseball, out of over 11,000 players, less than 400 are african american. If you take out the hbcu's its less than 50. Now i know, blacks aren't playing, no dads in the home, parks or coaches aren't available. All reasonable excuses. However, from 1989 when i watched my wife's brother Ernie Young's career take off, and my son's rise and subsequently over 100 elite black ball players paly this game all over this country, if mlb is SERIOUS about wanting more blacks in the game, Ive got nine kids who I will put up againest anybody including those two hot indian pitchers. But does anybody cares. When the Negro league was the nost popular league in the 1940'sand 50's, mlb took all its stars. Well, if mlb were honorable, lets bring back the negro league. It can be a training ground for black or people of color to hone their skills. The branding would be huge revenue potential. Although this could be percieved pie in the sky, its imaginative & bold. RBI can't and won't do anything but be a ripple in the ocean. And with Barak assension to the White House, maybe he would be open to discussing mlb's special government loophole that let's it be MLB. I think to whom much is given much is required. I won't rest until mlb takes a serious look at my guys like they do everyone else.

Recommend | Report Abuse
User Image
sgmax wrote: 11/26/2008 7:13:03 PM
I didnt realize the Pirates were interested in playing Cricket.

Recommend | Report Abuse
User Image
bad_santa wrote: 11/26/2008 8:44:36 AM
Just like there are no good basketball players in China....

Pirates also picked up a brand new market for selling t-shirts & hats....so maybe they only get 1% of India interested in MLB..That's how many new fans??????? You also now have people from India now living in the United States that could become more interested in a sport. MLB cannot afford to ignore the global markets.

Pittsburgh signed these guys for almost nothing......very low risk

Recommend | Report Abuse
User Image
PisinNcomplainin wrote: 11/25/2008 11:36:56 PM
Hey Pirates fans.........look at the bright side....

The team just picked up the SOUTHLAND CORPORATION as a sponsor.


Now, when you visit the ballpark, you will have "Big Gulp Slurpees" posted all over your outfield walls!

Recommend | Report Abuse
User Image
capmjh wrote: 11/25/2008 8:10:43 PM
This sounds about right. The Pittsburg Pirates, one of the Class AAAA Minor League teams playing at the Major League level can develop these two players, and when they become consistent and good, they can trade them for more players to develop for the other Major League teams.

It sure has been a long time since the pride of the "We are Family" Pirates, hasn't it? Now the team is no more than a minor league affiliate for every other team in the Majors.

Recommend | Report Abuse
User Image
twalshiii wrote: 11/25/2008 4:25:10 PM
Using subcontractors for cheap labor overseas, this is what's killing cities like Pittsburgh and the entire northeast, and then the Los Angeles Clippers of baseball (read Pirates) go and do the same thing.

The racing pierogies costumes were probably made by child labor.


Recommend | Report Abuse
User Image
Paws Out wrote: 11/25/2008 2:18:05 PM
I think it's pretty cool. Hopefully they pan out for the Pirates...or more likely, whatever team the Pirates eventually trade them to for no discernible reason.

Recommend | Report Abuse
User Image
GoSteelers90 wrote: 11/25/2008 12:52:52 PM
this is why Pirate fans are an endangered species

Recommend 1 | Report Abuse
User Image
DePitts2 wrote: 11/25/2008 9:41:49 AM
If they are "half-way decent" - they will at least sell tickets because they are a first in terms of Indian players. I can't help thinking that this is why the Pirates got them... that, and that they are probably pretty cheap. Don't worry, Pirates will trade them to a contender if they are any good when the season is over for them.

Recommend | Report Abuse
More comments on this story: 1 2 Next
Sponsored Links
1 Flat Stomach Rule: (Obey Now)
I cut out 2 lbs of stomach fat per week by obeying this 1 old rule.
PennysDietingBlog.com
Drop 20 Pounds Fast! Oprah Scored it #1
Oprah: Colon Cleansing #1 for Weight Loss. Free Trial - Click here
YouCanLoseWeightToo.com
1 Flat Stomach Rule: Obey
How I cut 2 lbs of fat per week by obeying this 1 old rule.
karlasweightloss.com
Get listed here
Newspaper Home Delivery - Subscribe Today
Home • News • Travel • Money • Sports • Life • Tech • Weather
About USATODAY.com: Site Map | FAQ | Contact Us | Jobs with Us | Terms of Service
Privacy Policy/Your California Privacy Right | Advertise | Press Room | Media Lounge | Reprints and Permissions
News Your Way: Mobile News | Email News | IM Alerts | Add USATODAY.com RSS feeds | Podcasts | Widgets
Partners: USA WEEKEND | Sports Weekly | Education | Space.com
Copyright 2009 USA TODAY, a division of Gannett Co. Inc.
Become a member of the USA TODAY community now! User Image
Log in | Become a member What's this?
Report item as: (required) X
Comment: (optional)

[PeterSmith]

Originally Posted by vivo

I think you are talking about the pirates. On of them has what I think is just a Gujarati surname, Patel. Singh isn't just a Punjabi surname.

You're right, but I remembered the article mentioning that they were both Punjabi. Anyhow, their names were Singh and Patel, so we're talking about the same guys. They are former cricketers.

[Itus]

FTI Consulting buying Canada’s Element Agency
Baltimore Business Journal - by Rachel Sams Staff

FTI Consulting is continuing with its wave of international acquisitions, striking a deal Monday to acquire the Element Agency, a Canadian communications firm.

Terms of the deal were not immediately disclosed.

The Element Agency specializes in communications about sustainability, issue advocacy and corporate social responsibility. Founded in 2003, it has won awards for its use of online video in issue advocacy. Its client list includes AIG (NYSE: AIG), MGM Mirage, the League of Conservation Voters and Gregor Robertson, Vancouver’s newly elected mayor.

Baltimore-based corporate advisory firm FTI’s business includes everything from turnaround and restructuring advice to merger help and crisis communications work. FTI (NYSE: FCN) has recently bought firms in England, Hong Kong and Brazil as it seeks to expand internationally.

The firm employs more than 3,000 in major cities around the world.

1/19/09
http://www.bizjournals.com/baltimore...l?surround=lfn

[Itus]

Maryland Department of Business and Economic Development opening new foreign trade offices
Baltimore Business Journal - by Ryan Sharrow Staff

The Maryland Department of Business and Economic Development said Thursday it will open five new foreign trade offices.

The offices will be located in Japan, Canada, South Africa, Brazil and Montenegro in Europe.

State officials said the offices would be operated on a contingency basis and require no upfront cost to taxpayers. Any funding from the state “would be based solely on the individual foreign office representatives’ ability to attract companies and jobs to Maryland,” officials said in a news release.

“Operating these new foreign offices without any upfront investment of state taxpayer dollars is one of the many ways that we are reinventing government in Maryland,” said Governor Martin O’Malley in a statement. “We will not only be able to attract new foreign companies and jobs to the state and provide our local companies with new avenues for marketing and trade, but also give Maryland an even greater global presence to help us weather these challenging economic times.”

It will be the first trade office DBED established in Canada. Maryland has previously had offices Brazil and Japan.

DBED will now have 10 international offices.

1/22/2009
http://www.bizjournals.com/baltimore...l?surround=lfn

[LilMoeJoeJoe]

http://www.baltimoresun.com/business...,6749073.story

Creation of up to 150 jobs anticipated as overseas businesses establish 'beachheads' in state with possibility of expansion
By Lorraine Mirabella | lorraine.mirabella@baltsun.com
February 12, 2009
As many as 150 jobs are expected to be created in Maryland in the next few years by foreign companies that set up operations in the state within the past year, state officials said yesterday.

Thirteen companies from Israel, Russia and countries in Europe and Asia have opened Maryland offices in the past 10 months, compared with just two new foreign companies that the state helped to attract in 2007, officials said.

Gov. Martin O'Malley and economic development officials said stepped-up outreach efforts are paying off. Companies in bioscience, energy, technology, defense and aerospace industries have opened in Howard, Harford, Baltimore, Anne Arundel, Montgomery, Prince George's and Charles counties.

"They're really beachheads," said Christian S. Johansson, acting secretary of the Maryland Department of Business and Economic Development. "These companies want to do business in the U.S., and as these companies are successful, Maryland becomes that launching pad and the place for those operations."



It's even more crucial in a recession to aggressively court foreign companies as a source of new jobs, O'Malley said in a statement. Foreign employers pay their workers, on average, 32 percent more than the national average wage, Johansson said.

Maryland, like every other state, is facing rising unemployment amid the worsening economy. The state's jobless rate spiked to 5.8 percent in December, the latest figures available and a 15-year high. The state lost jobs during a 12-month period for the first time since 2003, according to preliminary statistics released last month by the U.S. Labor Department.

In January alone, the state received notifications from several private employers about pending layoffs and closures affecting more than 600 employees, mostly starting in March.

Despite the slowdown, the manager of Mecanique d'Aquitaine, one of the 13 new foreign companies, said yesterday that he feels confident about longer-term prospects of expanding in Maryland, where the company hopes to tap into demand in the aerospace industry. The company, a subsidiary of a company based in southwest France, opened in October in Jessup with five employees. It makes precision parts for aircraft, with customers including Boeing Co.

"We have good leads and are talking to the right people," said Raphael Coeffic, Mecanique's manager. "We feel very confident we can win contracts."

The state's international business team has led economic development missions to targeted countries to promote the state, including one in September that visited Russia, China, South Africa and Finland. The state also has opened new trade offices in Japan, Canada, South Africa, Brazil and Montenegro. The department had an international travel budget of $146,000 in fiscal 2008.

[Itus]

Originally Posted by LilMoeJoeJoe

http://www.baltimoresun.com/business...,6749073.story

Creation of up to 150 jobs anticipated as overseas businesses establish 'beachheads' in state with possibility of expansion

pretty good news

[Hood]

DBED should set up shop on Wall Street so we can lure the firms here. Once the $500,000 cap is put on executive pay, they won’t be able to live in NYC. But, $500k will go a long way in Baltimore. Office space is ½ as much. And they’ll be close to DC which is where the banking center of with world will now be located at.

[Itus]

State exports rise to record high of $11.4 billion in 2008
By Lorraine Mirabella | lorraine.mirabella@baltsun.com
12:06 PM EST, March 3, 2009

Maryland exports rose to a record high of $11.4 billion last year, up 27 percent from 2007 and more than double the nation's 12 percent export growth rate, state officials said today.

Canada was the top destination for Maryland goods, receiving $1.5 billion in exports, and $2 billion in goods were shipped to Belgium, the Netherlands, Germany and the United Kingdom, according to the state Department of Business and Economic Development.

Maryland exported goods to 200 countries in 2008, the DBED said.

Gov. Martin O'Malley credited record-high exports to the state's aggressive approach to marketing local companies' goods and services globally.

More than 5,000 companies exported goods from Maryland in 2006, according to the most current statistics available from the U.S. Census Bureau. Most of those companies were small- and medium-sized, with fewer than 500 employees.

The leading export categories are vehicles and transportation equipment, the state said.

http://www.baltimoresun.com/business...,3922865.story

----------
Maryland exports soar to $11.4B in 2008
Baltimore Business Journal - by Rachel Bernstein Staff

Maryland exports climbed to $11.4 billion in 2008.

Maryland exports climbed to a record high in 2008 and the state expects to see another increase this year. Exports were up to $11.4 billion in 2008, up 27 percent from 2007 and more than twice the nation’s 12 percent export growth rate, according to state officials and based on figures from the U.S. Department of Commerce.

Canada receives the most Maryland goods, taking in $1.5 billion in goods. Belgium, the Netherlands, Germany and the United Kingdom also tallied a combined $2 billion in Maryland exports.

The state exported goods to 200 countries last year. The Maryland Department of Business and Economic Development’s Division of International Investment and Trade (DIIT) has increased Maryland’s presence overseas in the past year. The DIIT provides small and mid-sized Maryland companies with export assistance and opportunities for trade shows. The department also offers quarterly grants as part of its “ExportMD” program, which goes directly to small and mid-sized companies.

Maryland is also planning to open five new foreign trade offices last month, for a total of ten offices overseas. In November 2008, Maryland opened its first contingency office in South Korea, which is run by Ellicott City-based IDI Corp.

Prominent exporters continue to be Northrop Grumman Electronic Systems (NYSE: NOC), Arinc and Lockheed Martin (NYSE: LMT). The state’s leading export categories include vehicles and transportation equipment, along with electrical and industrial machinery, and chemical products.

Among the top 20 export markets for Maryland products, the fastest-growing markets included Saudi Arabia, the United Arab Emirates, Russia and Chile, which grew at 354 percent in importing Maryland goods.

------------
I wonder how other states did with exports last year...considering how weak the dollar was at the time. This could also explain why the BA flight had an uptick in cargo for the BWI flight...

[Itus]

Maryland to launch international business strategy to tap global trade
Baltimore Business Journal - by Scott Dance Staff

The state is launching an international business center that will help attract foreign companies to set up a presence here.

Gov. Martin O’Malley will announce details on the Maryland International Business Center, part of a broader strategy of growing international business in Maryland, Thursday night.

The strategy will also include a new Governor’s International Advisory Council and a business incubator specifically for growing international companies.

“In uncertain economic times, promoting foreign direct investment and helping Maryland companies access international markets are among the State’s most productive tools for economic development,” said Governor O’Malley. “This plan ... will provide us with a comprehensive roadmap to help us to capitalize on the unprecedented global opportunities.”

The Department of Business and Economic Development will manage the center, which will provide resources for companies looking to expand into Maryland and for local companies looking to export overseas.

The council will advise O’Malley and DBED and ways to boost the state’s international profile. Harold Adams, president of HLA LLC and formerly of RTKL Associates, will chair the panel. Katie Gray, vice president of global sensor solutions for Northrop Grumman Electronic Systems, will be vice chairwoman.

The incubator will be based at the University of Maryland, College Park, and will focus on leveraging university research to draw foreign companies. It will open July 1.

O’Malley is seeking to stress global trade as the state looks to build on record high exports in 2008. State exports grew 27 percent last year, compared to the 12 percent national average.

3-12-09
http://www.bizjournals.com/baltimore...l?surround=lfn