Tuesday, January 31, 2017

Penn Station selected to pilot Amtrak's improved Wi-Fi network

Getting work done while traveling can sometimes be a pain, but doing so at Penn Station may be a little easier as the venue has been selected as one of two stations nationwide to pilot upgrades to Amtrak’s national Wi-Fi networks. Amtrak announced the improved free high-speed broadband internet access at Penn Station on Tuesday. Chicago’s Union Station is the other station to pilot the upgrades, which includes enhanced connectivity and reliability. Along with the network upgrades, Penn Station…

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After 85 years, Kurek's Hardware Store in Canton is closing

As Bill Kurek puts up the “closing” sign in his hardware store’s window Tuesday morning, he has mixed emotions about closing the shop after 85 years of business in Baltimore’s Canton neighborhood. “It was time,” Kurek said of his retirement and the end of Kurek’s Hardware Store, a small mom-and-pop store at the corner of O'Donnell and South Clinton streets. Closing the store and selling the building isn’t just the end of an era for 68-year-old Kurek, a third-generation owner of the store. It's…

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With Under Armour shares declining, Kevin Plank lays out strategy for future growth

As Under Armour Inc. shares plunged more than 25 percent on Tuesday, CEO Kevin Plank told investors the sportswear maker’s growth story remains intact while admitting the brand’s products need to become more fashionable. “We own this,” Plank said on an earnings call with Wall Street analysts after Under Armour’s profit declined by 1 percent and revenue growth fell short of at least 20 percent for the first time in 27 quarters. Plank called the results “humbling.” “All these things hurt and we…

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A look at the $144M in renovations coming to M&T Bank Stadium (Photos)

M&T Bank Stadium’s planned $144 million in renovations over the next three years aims to help the nearly 20-year-old stadium stay relevant in a league with more and more extravagant venues. Baltimore Ravens President Dick Cass showed off the upgrades Tuesday at the stadium alongside representatives from the Maryland Stadium Authority, which will be contributing $24 million on the state’s behalf toward the project. The first phase of the construction has already begun at an estimated cost of $32…

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Guinness is building a U.S. brewery, taproom in southwest Baltimore County

Top o’the Tuesday morn: Guinness is coming to southwest Baltimore County. The company plans to build a midsize brewery modeled after one of the top tourist destinations in Ireland, the Guinness Open Gate Brewery in Dublin. A Guinness visitor experience will also be part of the project. It will be the first Guinness brewery to open in the U.S. in 63 years. The new Guinness facility in Relay will be part of Diageo’s (NYSE: DEO) production facility, site of the historic Calvert Distillery which…

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Report: Baltimore small business growth ranks high

Baltimore is in the top 5 U.S. cities for small business growth, a new report says. The Paychex-IHS Markit Small Business Jobs Index measures hiring data from more than 350,000 small businesses in the U.S. each month. And for the second consecutive month, Baltimore has ranked in the top five with the strongest 12-month growth rate at a total of 3.13 percent, the January report said. Overall, the small business hiring data across the U.S. showed a slight increased in January, a sign of optimism.…

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Project that calls for 173 townhomes in Baltimore's Greektown moves forward

A project that would build 173 rowhomes in Greektown is moving forward. Elkridge-based H&H Rock Cos. is planning to build the rowhomes on 10 acres of vacant land at 4500-4600 Gough St., according to documents from the city’s Board of Estimates. The city’s spending board Wednesday approved a $3.05 million performance bond to the developers to construct sewer and water lines, conduits and street lighting at the property. The documents did not provide a timeline for the project. The development,…

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Under Armour CFO steps down after a year

Under Armour Inc. CFO Chip Molloy will resign on Feb. 3 for personal reasons after only a year on the job. David Bergman, who joined Under Armour (NYSE: UAA) in 2005 and is currently senior vice president of corporate finance, will step in as the new CFO. Molloy, 55, joined the Baltimore sportswear maker in January 2015, coming from PetSmart Inc. He replaced Brad Dickerson, who left to join New York meal delivery startup Blue Apron. Molloy will remain with Under Armour in an advisory capacity…

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Under Armour shares fall sharply after earnings miss expectations

Under Armour Inc’s streak of 20 percent revenue growth came to an end in the fourth quarter leading to a decline in the sportswear maker’s profit and causing its stock price to drop nearly 25 percent in pre-market trading on Tuesday. Baltimore-based Under Armour reported earnings of $105 million, or 23 cents per share in the fourth quarter. That’s a 1 percent decline from the same period last year when Under Armour posted earnings of $105.6 million, or 24 cents per share. Under Armour reported…

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