Tag: economics

Wait, Now Baltimore Is One of America’s Richest Cities?



Last week we reported on a list that claimed that Baltimore was the 6th poorest city in the United States. Now a different list has come out, claiming that Baltimore is actually the 22nd richest city. So what gives?

Interview with U.S. Treasury Under Sec. Mary Miller

Under Secretary of the Treasury Mary Miller
Under Secretary of the Treasury Mary Miller

Mary J. Miller, Under Secretary for Domestic Finance at the U.S. Treasury, is the first woman to hold that position in the institution’s history. The longtime Guilford resident is “responsible for developing and coordinating Treasury’s policies and guidance in the areas of financial institutions, federal debt financing, financial regulation, and capital markets.” She also currently serves as Acting Deputy Secretary for the Treasury until the confirmation of former Maryland Commissioner of Financial Regulation Sarah Bloom Raskin as the first female Deputy Secretary of the Treasury.

“Secretary Geithner was serving at the time of the highest number of women at top jobs at the Treasury ever,” Mrs. Miller says.   “I’ve felt lucky to have this opportunity.”

O’Malley to Push for Raising the Minimum Wage to $10 in Maryland


What was he thinking?

Gov. Martin O’Malley figures that the minimum wage would be around $10 an hour if it had kept up with inflation since 1968 ($20 if it had kept up with productivity!), and so $10 amount he’s “zeroing in on” for Maryland workers, up from the current $7.25. That’s according to O’Malley’s appearance Sunday on CNN’s State of the Union.

As the Baltimore Sun points out, a minimum wage increase could produce complications for businesses who employ tipped workers. The reason is that businesses in Maryland have to pay their employees 50 percent of minimum wage out of pocket and only have to pay the other 50 percent if the workers fail to make up the difference in tips.

The Mayor Faces Fiscal Reality



Courtesy Citybizlist – The difference in both tone and substance between Mayor Rawlings-Blake’s State of the City address on Monday and the President’s State of the Union was striking in how little one had to do with the other.

The President’s proposals on the budget and the economy were a world away from the gritty problems the Mayor has to contend with in the Baltimore City.

Towson University Partners with T. Rowe Price for Real-World Finance Education


T. Rowe Price Finance Lab at Towson University

I just got back from a wedding, and so I’m in the mood to celebrate unions of all kind. The new partnership between T. Rowe Price and Towson University may be a bit less romantic than what I witnessed up in New Hampshire, but it’s still an exciting example of how Baltimore’s education and business communities can benefit from one another in unexpected ways.

Exactly How Much of a Disaster is This? Hopkins Profs Weigh in On Euro Crisis


I know there’s a European debt crisis — and that’s pretty much as far as I understand it. Luckily, here in Baltimore we happen to have quite a few people who’ve looked at these issues more closely — and who can explain the situation in terms that make sense.  The Johns Hopkins Arts & Sciences magazine tracked down four local experts — the Department of Political Science’s Nicolas Jabko and the Center for Financial Economics’ Olivier Jeanne, Robert Barbera, and Jonathan Wright — trapped them in a nice room with a big round table, and peppered them with questions about Greece, potential bank runs, and the possibility of global economic meltdown. Here’s how it went:

Maryland Lotto Brings Home the Bacon


The Maryland Lottery continues to bring home the bacon – for the 15th year in a row it saw an increase in sales. The Lottery brought in $1.795 billion during fiscal 2012, a seven percent rise from 2011. The state is trying to figure out how and why the lottery is doing so well, what they’re doing right so they can keep doing it.

Didn’t Get a Raise So Far This Year? Blame Baltimore (Not Really)


“But wait,” you may be saying. “How can I blame the city for not paying me more if I’m not even a city employee?” Well, while the economy is still stalling out and wages are stagnant in many places, that’s not true everywhere. In Boston, for example, wages grew nearly 2 percent between the first and second quarters of 2012. But, according to data recently released by PayScale, not all metro areas are created equal. And we’re sad to say that this is one area in which Baltimore is merely average. (But at least we’re outperforming D.C. and Philly.)