8 things to know: Bruce in Baltimore, Black women more represented on boards

Good morning Baltimore!

According to the National Weather Service, Baltimore City will see isolated showers before 10 a.m. before clearing up for a mostly sunny day, with a high near 67 degrees.

Here's a smattering of news from around the business world and Baltimore:

Restaurant Association of Maryland to host annual gala, announces award winners

The Restaurant Association of Maryland will host its annual Awards Gala and has announced the first three award winners. Brenda McDonnell, the owner of Brenda's Pizzeria, Trader's Coffee House, Ace's Run Restaurant & Pub and Firewater in Garrett County, won the award for the 2023 Restauranteur of the Year. In addition, restauranteur Steve F. de Castro won the Lifetime Achievement Award and Juan Lowman, the general manager of The White Oak Tavern in Ellicott City, won the Heart of the Industry Award. The public can vote on several other awards, including bartender and chef of the year, at marylandrestaurants.com/gala.

Black women see more board representation

Black women now represent 12% of all of the members of boards of directors for S&P 500 companies. In 2008, that number was only 2%, according to data gathered by executive and board recruitment firm Spencer Stuart cited by The Wall Street Journal. [Bizwomen]

Marylanders struggling to feed families in new year

According to an analysis done by the Maryland Food Bank of Jan. 25 U.S. Census Household Pulse Survey data, 2 in 5 Maryland families said their children were sometimes or often not eating enough because food was not affordable. In addition, the portion of Maryland residents who found it difficult to pay for living expenses rose from 30% in Dec. 2022 to 37% in January 2023. [Press release]

Sign up for the Baltimore Business Journal's emails to get the latest business news for Greater Baltimore in your inbox twice a day. Already signed up and loving the work we do? Consider subscribing for less than $3 a week.

Coworking space continues expansion

Spark Coworking, a Cordish Cos.-owned coworking space originally opened at Power Plant Live in 2016, has now opened its fourth location in Arlington, Texas. The space is part of nearly $1 billion worth of redevelopment in the area as part of a partnership with the Texas Rangers to create a new entertainment district. [Press release]

Biden appoints new top economic aide

Federal Reserve Vice Chair Lael Brainard was named as President Joe Biden's top economic aide, leaving a vacancy at the country's central bank. [Bloomberg]

Bruce Springsteen coming to Baltimore

Bruce Springsteen will be performing at Oriole Park at Camden Yards on Sept. 9. It'll be the second date this year that the New Jersey native will perform in the city, as he's currently scheduled to play at CFG Bank Arena on April 7. [Baltimore Business Journal]

Subway up for sale

Subway, the national fast food restaurant, said in a statement that its shareholders are "exploring a possible sale" of the company and have hired J.P. Morgan to help with the process. [CNN]

Is a wage-price spiral coming?

The latest numbers from the Consumer Price Index are in and show a 6.4% increase in prices over the last year. Thing is, wages have also been growing over that period. It's led some to question whether America could experience a wage-price spiral, the so-called "nightmare scenario" for inflation. Learn more about the issue from NPR's The Indicator From Planet Money, which features two economists discussing whether the spiral should be a real concern. [NPR]

This newsletter was written by Phil Davis, Special Projects Editor at the Baltimore Business Journal. I can be reached at [email protected].?