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Baltimore computer finance company BlueHippo Funding has filed for Chapter 11 bankruptcy protection. The company's payment processor's bank, First Region's Bank, froze BlueHippo's funds as a result of a recent complaint by the Federal Trade Commission, according to BlueHippo information. The complaint said BlueHippo improperly collected more than $15 million from consumers.

The freezing has effectively prevented BlueHippo from being able to pay its creditors and forced it to seek bankruptcy protection, according to company information. BlueHippo said it has demanded immediate and complete restoration of its accounts and intends to submit a plan to restructure the company. In its filing in U.S. Bankruptcy Court in Delaware, the company lists assets and debts of $10 million to $50 million each.

The FTC said it has asked a federal court to issue a contempt order against BlueHippo because the company collected the money from consumers based on claims it would finance purchases, but delivered neither the financing nor the financed computers, in violation of a 2008 court order.

Execs inducted into food industry hall of fame

Seven business executives were inducted this month into the Maryland Food Industry Hall of Fame during a ceremony sponsored by the Maryland Retailers Association's Food Dealers Council.

The honorees were Gerson Barnett, Giant Food; Tom Castleberry, Safeway; Ralph Kemp, Cloverland Farms Dairy; John Loveys, DPI; Murry Mendelson, Murry Steaks; Bill White, Shoppers Food Warehouse; and Del. John F. Wood Jr. (D-Dist. 29A) of Mechanicsville.

Carl Schlicker of Stop & Shop/Giant-Landover received the Best-Met Pete Manos Retail Executive of the Year award.

The hall of fame started in 2003 and now has more than 60 members.

Greenberg Gibbons wins Phoenix award

Real estate developer Greenberg Gibbons of Owings Mills won a regional 2009 Phoenix Award in recognition of excellence in brownfield redevelopment for its Annapolis Towne Centre in Parole. The award is presented by the Phoenix Awards Institute of Mechanicsburg, Pa., an environmental and community service nonprofit.

The project has created more than 2,800 jobs, and retail sales are expected to top $300 million a year, according to Greenberg Gibbons information. The project was the winner for Region 3, which comprises Maryland, Delaware, Pennsylvania, Virginia, West Virginia and Washington, D.C.

Recognized as a top award in brownfield redevelopment and revitalization, according to Greenberg Gibbons information, the Phoenix awards honor individuals and groups working to solve critical environmental and community challenges when transforming formerly used properties into productive new

Severn Bank under OTS supervision

Severn Bancorp of Annapolis, parent of Severn Savings Bank, has entered into supervisory agreements with the U.S. Office of Thrift Supervision, the bank's primary federal regulator. The agreements set forth steps being taken in response to "regulatory concerns with its operating results and effects of the current economic environment facing the financial services industry," according to bank information.

"These agreements should not impact our day-to-day operations or our relationship with our customers or employees," said president and CEO Alan J. Hyatt in a statement. "Many of the steps contained in the agreements are consistent with actions we identified as necessary and have already begun implementing to navigate this unprecedented economic disruption."

The bank reported a third-quarter net loss of $4.4 million, versus a profit of $600,000 in the prior-year quarter. The bank raised its loan loss reserve by $8.9 million in the quarter.

Wide use of alternative fuels coming for taxis, says group

The benefits of converting America's taxi fleets to alternative fuel vehicles do not yet make widespread operational sense, but may soon, according to a new study conducted by the Taxicab, Limousine & Paratransit Association of Rockville.

"These vehicles are coming, and when they do, they will help transform our industry. But this report clearly shows that the taxicab industry has to strike a balance among what the market offers today in terms of vehicles; what the customer expects in terms of comfort, safety and price; and what's environmentally sustainable," said CEO Alfred LaGasse in a statement.

GWI launches site to attract businesses

The Greater Washington Initiative, an affiliate of the Greater Washington Board of Trade, has established a new interactive regional economic development Web site aimed at convincing companies and site location consultants that the Washington metropolitan region is a premier business location.

The Web site features demographic, economic, educational, business and quality-of-life data along with comparisons to other major U.S. metro areas. Information: www.greaterwashington.org.