Manufacturing jobs add $16 billion to Md. economy
Maryland’s manufacturing industry employed 131,754 direct jobs and supported 334,000 total jobs in 2007, creating $16 billion in annual wages, according to Manufacturers’ Alliance of Maryland’s state of the industry report.
Maryland manufacturing was responsible for $86.5 billion in total statewide business sales in 2007, or about 20 percent of state output, according to the report.
“This report should reinforce with lawmakers the need to adopt policies that encourage smart, sustainable growth in manufacturing, which will support high-wage job growth and improve the economic viability of the state,” Gene Burner, president of MAM, said in a statement.
The report acknowledges that the past few decades in Maryland have challenged the overall job environment in manufacturing, showing declines in low-skill, low-pay jobs in the textile, apparel and metal manufacturing industries.
– Andrew Cannarsa
Maryland, 33 other states settle with Dell for $1.5M
The Consumer Protection Division of state Attorney General Douglas Gansler’s office, along with consumer protection authorities from 33 other states, has reached a settlement with computer manufacturer Dell Inc., the division said Tuesday.
The attorney general alleged that Dell offered zero-percent financing programs but in fact charged higher interest rates to buyers, and did not adequately disclose rebate and technical support terms. In the settlement, Dell admitted no wrongdoing but agreed to pay $1.5 million in restitution to eligible customers.
– Aaron Cahall
Baltimore information security firm completes merger
SafeNet, a Belcamp-based information security company, has combined with Israel-based Aladdin Knowledge Systems in a transaction valued at about $160 million.
Aladdin is an information security leader specializing in authentication, software rights management and content security.
Aladdin was acquired by an investor group led by Vector Capital. The firm will be affiliated with SafeNet and operate under common ownership. Aladdin is expected to be fully integrated into SafeNet.
“By placing these two leaders under common ownership, we have significantly extended our presence in the software rights management and authentication industries,” David Fishman, partner of Vector Capital, said in a statement.
– Andrew Cannarsa
Clarification
An article in Tuesday’s edition misidentified Spectrum Gaming Group, an independent firm that works with gaming-related, not racing-related, interests.
