The Daily Record News Briefs: September 25, 2008

Daily Record, The (Baltimore), Sep 25, 2008

Zerhouni to leave NIH post

Dr. Elias A. Zerhouni, the director of the National Institutes of Health since May 2002, said he will leave the nation's principal biomedical research agency at the end of October to pursue writing projects and explore other professional opportunities. Born in Algeria, Zerhouni, 57, is a radiologist by training. During the 6 1/ 2 years he headed the Bethesda-based NIH, Zerhouni engineered a major reorganization of the behemoth $29.5 billion agency designed to speed how basic science discoveries are turned into treatments -- and to spur creative research ideas that might otherwise languish.

Hong Kong lures Bethesda firm

American Capital Ltd., of Bethesda, an alternative asset management company and private equity fund, said it opened an office in Hong Kong, its first office in Asia, to identify and support opportunities throughout Asia for its existing portfolio companies in the United States and Europe, and to build relationships with local institutional investors. The company said Asia's economic growth, increasing middle class and attractive investment opportunities spurred its expansion to the region.

COPT prices share offering

Corporate Office Properties Trust, of Columbia, a suburban office real estate investment trust, said it increased its planned share offering from 2 million to 3.25 million shares priced at $39 a share, with an expected gross return of $126.8 million. COPT said it expects to net $121 million, which it will first use to repay debt. The underwriters will get the option to buy an extra 487,500 shares to cover any over-allotments. If all are used, net proceeds will be about $139 million, the company said. The offering is expected to close on Monday.

Natural gas may cost more

BGE said customers can expect to pay an average of $110 more for natural gas this winter compared to a year ago. The company blamed an expected rise in the market price and predictions that this winter won't be as mild as last winter. The utility estimated that the average customer's bill will go up 16 percent -- to $792 -- from November through March. Prices for natural gas spiked over the summer, but have declined in recent weeks. But the utility said it expects prices to increase during the next few months.

Md. colleges getting $16.5M

The National Science Foundation awarded $16.5 million in grants to the University of Maryland, Baltimore County; University of Maryland, College Park; and the University System of Maryland, U.S. Sens. Barbara A. Mikulski and Benjamin L. Cardin, both D-Md., said. USM will receive $12.4 million to expand higher education in science, technology, engineering and mathematics (STEM) fields. UMBC is getting $2.2 million for the INSPIRES Curriculum for Engineering and Technology Education, and $500,000 for a program to increase the number of minority doctoral students in STEM disciplines. Also, UMCP will receive $1.3 million for a project to upgrade computing resources technology.

Fort Ritchie's first building

Fort Ritchie, a former U.S. Army base in the Washington County community of Cascade that closed in 1998, is holding a grand opening celebration on Saturday to debut the first building in the redevelopment -- a 20,000-plus-square-foot, multipurpose community center. The center was paid for by Fort Ritchie developer Corporate Office Properties Trust and PenMar Development Corp., the agency created to oversee the post's renewal as a mixed-use development. Current plans call for eventual construction of about 1.7 million square feet of new office and retail space and residences.

2 hospitals on Leapfrog list

Two Baltimore hospitals, the University of Maryland Medical Center and Sinai Hospital, have been ranked by the Leapfrog Group among the nation's 26 top acute care hospitals for patient safety and quality of care. The Leapfrog Survey uses objective data to rate hospitals, including patient care outcomes, use of best practices, patient safety initiatives and the volumes of procedures. The survey also named seven top pediatric hospitals, but none is in Maryland. The closest institution on the list is Children's National Medical Center in Washington. The Washington-based Leapfrog Group was founded by the Business Roundtable to represent the nation's largest corporations and public agencies that buy health insurance for employees.

Oyster placement sets record

Maryland has planted a record 485 million oysters in the Chesapeake Bay this year. Department of Natural Resources officials said increased hatchery capacity at the University of Maryland's Horn Point facility in Cambridge has enabled more than 1.4 billion oysters to be planted since 2000. They have been planted on 1,100 acres of once-productive oyster reefs. Oysters are ecologically important for the bay because they filter water and create reefs that serve as a habitat for other marine life.

Air subsidies get new life

Subsidies for commercial air service in Hagerstown would continue for another year under a bill approved by the U.S. Senate. Sen. Barbara A. Mikulski's office said President Bush is expected to sign the bill, which has already passed the House. The subsidies were set to expire next Tuesday. Congress is expected to renew the subsidies for four years as part of an aviation bill next year. Commercial flights will return to Hagerstown in November when Allegiant Air begins twice-weekly flights to Orlando, Fla. Allegiant will not receive subsidies.