More News

Business activity in Maryland fell in July after increasing in the previous four months, according to a new survey by the Federal Reserve in Richmond, Va.

Even though a decline in sales was reported, there was no change in customer traffic or inquiries compared with June, according to the survey.

"Expectations for activity six months from now moderated but remained solid, with just less than 50 percent of survey respondents anticipating an increase in general business activity at their company," a report on the survey stated. "However, expectations for the state and national economy dropped sharply."

The Fed sends the monthly survey to 160 contacts representative of the state's economic composition. Usually, about 75 respond.

Restaurant workers win $34.3M in poison suit

A Baltimore City Circuit Court jury on Wednesday awarded a collective $34.3 million in damages to 23 restaurant workers injured by carbon monoxide at Ruth's Chris Steakhouse at the Pier V hotel in Baltimore in February 2008, according to a statement by the plaintiffs' law firm, Murphy PA of Baltimore.

The verdict came after a 13-week trial against MJ Harbor Hotel, which operates the hotel, and TPOB Pier 5, which owns the property. The restaurant was not a defendant.

The carbon monoxide release caused the evacuation of the restaurant and hotel lobby at the Pier V complex.

Damages were awarded for negligence, public nuisance and battery against both defendants.

Foreclosure rate up in metro Baltimore

Most of the nation's metropolitan regions saw their mortgage foreclosure rates increase in the first half of 2010 compared to a year ago, according to new data from RealtyTrac of Irvine, Calif.

That includes the Baltimore-Towson area, whose rate of one filing per 92 households was up 130.2 percent from the first six months of 2009 and up 5.3 percent from the second half of last year. Also, the rate in the Hagerstown area, which includes Martinsburg, W.Va., was up 42.6 percent from a year earlier, to one filing per 134 households. But that was down 5.8 percent from the second half of 2009.

However, the Washington, D.C., region, which includes the suburbs of Maryland and Virginia, saw its rate fall 5.4 percent from a year earlier and 18.0 percent from the previous six months. Its rate of one filing per 78 households was the same as the national average and was the 67th highest in the U.S.

In the nation's metro regions with the nine highest rates, all saw their rates fall from both a year earlier and six months earlier. The Las Vegas area had the highest rate in the U.S., with one filing per 15 households.

Cecil Bank agrees to pay Fed fine

Cecil Bank of Elkton agreed to pay $21,945 for allegedly violating the Federal Reserve Board's regulations implementing the National Flood Insurance Act, according to a Fed statement.

The civil penalty will be paid to the Federal Emergency Management Agency for deposit into the National Flood Mitigation Fund. The bank admitted no wrongdoing.