The Daily Record News Briefs: August 27, 2008

Daily Record, The (Baltimore), Aug 27, 2008

Bay Bridge traffic alert!

The Maryland Transportation Authority said it has closed a lane of the Chesapeake Bay Bridge to install safety measures following a fatal accident earlier this month. The closure of the right lane of the eastbound span will remain in effect for the next two to three weeks. The speed limit on that span has been reduced from 50 to 40 mph. With major delays expected, the authority is urging Ocean City- bound travelers to avoid the bridge entirely on Labor Day weekend, and go north around the Chesapeake Bay through Delaware to reach the beach resort.

BDC solicits arena proposals

The Baltimore Development Corp., Baltimore's economic development agency, has issued two requests for proposals, one for a development team and another for a feasibility consultant, in connection with the development of a new downtown arena. In July, BDC announced the decision to move forward with development of a new 18,500-seat arena at the site of the existing 14,000-seat 1st Mariner Arena, bounded by Lombard Street, Howard Street, Baltimore Street and Hopkins Place. Consultant proposals are due to BDC by noon on Sept. 26; development teams' deadline is noon on Nov. 26. The RFPs can be downloaded from BDC's Web site, www.baltimoredevelopment.com.

Constellation overview slated

Constellation Energy Group, of Baltimore, said it will host a financial analysts' meeting from 3-5:30 p.m. Wednesday that will be available to the public via telephone and the Internet. Presenters are Mayo A. Shattuck III, chairman, president and chief executive officer; John R. Collins, executive vice president and chief financial officer; and Brenda I. Boultwood, senior vice president and chief risk officer. To participate by phone, dial 888-681-5899 shortly before 3 p.m. The conference password is "energy." A live audio Webcast of the meeting and presentation slides will be available on the Investor Relations page of Constellation Energy's Web site, www.constellation.com.

Netcordia to host Webinar

Netcordia Inc., of Annapolis, a provider of network analysis and diagnostic tools, will present a complimentary Webinar at 2 p.m. Wednesday outlining a practical roadmap to payment card industry- compliant information networks -- a front-burner issue for any organization that accepts credit cards. Presenters Charles Chambers, manager of network planning and development, University of Houston; Matt Shell, technology manager for security, Coleman Technologies; and Yama Habibzai, senior director of marketing, Netcordia, will discuss how to prevent, identify and correct changes made to the network, such as inadvertent configuration mistakes, employees bypassing security controls, or new devices added to the network without approval. To participate, go to www.netcordia.com/html- email/pci/index.htm.

Avatech expects a profit

Avatech Solutions Inc., of Owings Mills, a provider of design automation software and technical support for the manufacturing, building design and engineering markets, said preliminary, unaudited financial results for its fiscal fourth quarter ended June 30, show revenue of approximately $11.5 million, the same as in fiscal 2007. Net income increased to $741,000, or 3 cents per diluted share, versus a net loss of $873,000, or 5 cents per diluted share, in the prior-year period. The company said it plans to release its financial results for the fiscal fourth quarter and year on Sept. 29.

Standardized tests an issue

Members of the Maryland Board of Education are signaling that they're still uncomfortable with making standardized tests a requirement for graduation. Board member Rosa Garcia said at Tuesday's meeting that Maryland might be denying diplomas to thousands of children in the class of 2009. This year's seniors are the first to be required to pass tests known as High School Assessments in order to receive diplomas. State Superintendent Nancy Grasmick said she believes the number of students who don't graduate solely because of the tests will be insignificant. And she said school districts have identified the students who are struggling and are working with them individually.

Lockheed acquires Aussie co.

Lockheed Martin Corp., of Bethesda, the world's largest defense company, said it completed its previously announced acquisition of Tenix Group's interest in RLM Holdings Pty Ltd, a radar, systems engineering and integration and logistics management business headquartered in Adelaide, Australia. Terms were not disclosed. RLM was founded in 1997 as a joint venture between Lockheed Martin and Tenix Group, an Australian defense contractor.

McCormick's $250M notes sale

McCormick & Co., of Sparks, the world's biggest maker of spices, sold $250 million of five-year notes. The 5.25 percent securities were priced to yield 223 basis points more than U.S. Treasuries of similar maturity. A basis point is 0.01 percentage point. Proceeds will be used to repay outstanding commercial paper issued to help finance the $604 million purchase last month of Lawry's seasonings from Unilever, McCormick said in a filing with the Securities and Exchange Commission.