Local News - Baltimore Business Journal

T. Rowe Price Group Inc. continued to weather a turbulent economy, reporting flat second-quarter earnings. (TROW)

Money manager Legg Mason Inc. reported its second consecutive quarterly loss Friday as it took more charges to support its money-market funds and investors continued to pull billions of dollars out of the firm. (LM) (TROW)

Total back-to-school spending this year is estimated to reach $20.1 billion, a $1.7 billion increase over last year's estimate, according to the National Retail Federation.

Arizona Sen. John McCain's presidential campaign is touting a new survey of economists who predict he would have a more positive impact on stock markets than Illinois Democrat Barack Obama.

Wachovia Corp. said Chief Financial Officer Thomas Wurtz will leave the company after a successor has been named. (WB)

City and state leaders have selected the site of the aging First Mariner Arena as the best location for a new 18,500-seat sports and entertainment venue in Baltimore that could cost up to $300 million.

A natural stone wholesaler has opened a distribution facility in Jessup, and the firm plans to hire some locals for its work force.

The percentage of vacant homes available for sale in the U.S. continues to hover at record levels.

Bay National Corp. swung to a $776,000 net loss for the second quarter and cut jobs as the bank and its peers face an economic downturn and bumpy mortgage market. (BAYN) (WB)

Southwest Airlines has posted second-quarter earnings of $121 million, or 16 cents per share, on revenue of $2.9 billion. (LUV)

AirTran Airways is offering a new service called Gateway Planner on its Web site to help passengers plan trips and maximize vacation experiences. (AAI)

Chemicals giant W.R. Grace & Co. grew its bottom line by 22 percent in the second quarter, but said its Grace Davison division will raise prices as inflation weighs on profit margins. (GRA)

Bank of America Corp. plans to spend $3.75 billion to repurchase its own stock. (BAC)

AirTran Airways said it will expand its daily, nonstop service at General Mitchell International Airport in Milwaukee, adding more flights to a variety of cities, including Baltimore. (LUV) (AAI)

Baltimore diners once again voted Charleston as their favorite spot in the recently released 2009 Zagat Survey.

TidalTV has signed a deal with Sony Pictures Television to add classics like "Married... With Children," "Who's the Boss?" and "The Facts of Life" to its online lineup.

American workers rejoice! U.S. companies will likely keep pay raises steady in 2009, according to a survey by Arlington, Va., consulting firm Watson Wyatt Worldwide Inc. (WW)

Overall shipment revenue of consumer electronics will top $173 billion in the U.S. this year, which is $2 billion more than January's prediction by the Consumer Electronics Association.

Middle market mergers and acquisitions professionals are frustrated with the current M&A environment. But they believe the volume of deals has bottomed out and are optimistic about the second half of 2008, according to a report released Tuesday.