The nearly 25-point drop in the graduation rate for Dayton Public Schools is the third largest among more than 600 districts, a Dayton Daily News analysis of the impact of the state's new formula shows. If the change had been in effect this year, Dayton's graduation rate in 2009-10, the last reporting period, would have dropped from 84.4 percent to 59.6 percent.
Facebook's economic impact Faculty members at the Robert H. Smith School of Business at the University of Maryland, College Park, have for the first time been able to quantify that the combination of Facebook and mobile technology applications has added at least 182,000 new jobs and contributed more than $12.19 billion in wages and benefits to the U.S. economy this year. More than 53,000 new jobs have been created in software companies that make applications for the Facebook platform. Another 129,000 jobs are attributed to businesses that supply app developers. Apps include everything from productivity tools to popular games like "Farmville" that users interact with on Facebook. For results of the study, go to www.rhsmith.umd.edu/ digits.
Casino commission files motion Maryland's Video Lottery Facility Location Commission filed a motion to dismiss a reverse discrimination lawsuit by a potential bidder for the Baltimore casino license Tuesday. Baltimore City Entertainment Group alleged the commission's rules for developers unfairly favor minorities and women. In its motion, the state argued that minority contracting rules have been improved since the suit was filed and BCEG has not been harmed. BCEG was the only bidder for the license in 2009, but its proposal was tossed. BCEG has challenged the commission's decision twice and lost, and has an appeal pending before the Court of Special Appeals.
Axiom acquires Ivertexo Axiom Systems Inc. of Frederick, a provider of information system services and products to the managed health care industry, announced its acquisition of Ivertexo Internet Solutions Inc., a Phoenix, Ariz.-based company that provides HIPAA-related software and services to more than 3,500 clients. Terms of the acquisition, including financial details, were not disclosed. Ivertexo CEO Jeff Benjamin will become Axiom's chief technology officer. HIPAA, the Health Information Portability and Accountability Act of 1996, is a federal law that governs the electronic transfer of health care information, the privacy of individuals' health records, the administration of health care billing and other areas.
Traffic woes multiply The Downtown Partnership of Baltimore said Charles Street will close early Tuesday morning between Conway and Pratt streets for about two weeks. To accommodate the work, two lanes of Pratt Street at Charles Street also will be closed. Garage and delivery access will be maintained, according to the announcement. The street work is in connection with the Baltimore Grand Prix race scheduled to be held downtown on Labor Day weekend. The Downtown Partnership said several events downtown will add to the traffic woes, specifically, a concert by the singer Sade at the First Mariner Arena on Thursday, and meetings at the Baltimore Convention Center that are expected to draw more than 20,000 people.
Md. report card mixed Maryland fares poorly in manufacturing in a new report card that grades the 50 states in nine areas of the economy undergirding manufacturing and logistics. Overall, Maryland is graded "D" in both manufacturing (defined as the production of goods), and logistics (the movement of goods). The state did best in the area of venture capital, for which it is graded "B+." Other areas are human capital (grade of B); benefit costs, B-; global reach (defined as the level of international trade), D+; productivity/innovation, B; tax climate, D; and diversification, C-. The report, prepared by Ball State University's Center for Business and Economic Research, is available at http://cms.bsu.edu/Academics/CentersandInstitutes/BBR/ CurrentStudiesandPublications.
Severe health impact of mortgage crisisA team of researchers led by the University of Maryland School of Medicine is warning of a looming health crisis in the wake of rising mortgage delinquencies and home foreclosures. The study, released last week in the American Journal of Public Health, is the first long-term survey of the impact the current housing crisis is having on older Americans. The study focused on adults over 50, and found high rates of depression among those behind in their mortgage payments and a higher likelihood of making unhealthy financial tradeoffs regarding food and needed prescription medications. For details, including a video, go to http://www.umm.edu/news/mortgage-default-depression.htm. Patapsco Bancorp improves earningsPatapsco Bancorp Inc. of Dundalk, parent...
Legg's assets rise Legg Mason Inc. of Baltimore said Tuesday that its assets under management rose slightly, to $677.6 billion through the end of March 2011, up from $672.7 billion at the end of February 2011. However, the total was lower than at the end of March 2010, when the firm reported assets under management of $684.5 billion. Fixed-income investments closed at $356.6 million on March 31, compared to February's $353.4 billion. Managed assets in stocks rose to $189.6 billion at the end of March 2011 from $188.7 billion in the prior month. Liquidity assets, such as money-market mutual funds, rose to $131.4 billion in March of this year from $130.6 billion in February.
Stem cell research grantees selectedThe Maryland Technology Development Corp. (TEDCO) announced the names of scientists who will receive grants from the Maryland Stem Cell Research Fund's $12.4 million FY 2012 budget. The Maryland Stem Cell Research Commission reviewed 179 applications before recommending 40 to TEDCO's board of directors. Priority was given to proposals that focus on advancing regenerative medicine, targeting such conditions as type 1 diabetes, Parkinson's disease and Lou Gehrig's disease. Funds will also support a collaborative project with scientists at the California Institute of Regenerative Medicine to study stem cell differentiation and bone repair. For the list of awardees, go to http://www.mscrf.org/content/awardees/2008.cfm. Dalglish to head UM journalism schoo...
$2B Lockheed Martin dealLockheed Martin has been selected by the National Science Foundation to operate and maintain the support infrastructure for the U.S. Antarctic Program, which enables universities, research institutions and federal agencies to conduct research in the region. The multiyear contract is valued at approximately $2 billion if all options are exercised. Under the contract, Lockheed Martin will work with the NSF to implement an infrastructure for managing work stations and medical facilities, research vessels, construction projects and remote sites in and around Antarctica. The corporation also will modernize technologies to transport scientists, staff and supplies to and from Antarctica. Cardiac care recommendationsThe Maryland Health Care Commission submitted to the go...
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