Trader Joe's recalls two more products; Home insurance rates continue to climb
Baltimore Business Journal
The Baltimore region's source for local business news & events. Part of the American City Business Journals network.
Good morning Baltimore and welcome to Monday.
The extreme heat has broken, fortunately, which allowed me to get out for a round of golf on yesterday. Less fortunately, I somehow got sunburn only on the backs of my knees. And least fortunate of all? My scorecard (and the golfers I was paired with for the round).
In other sad news, the Orioles took the season series from my Yankees for the first time since 2016, and I am a shell of the man I was before this season began. More below on Orioles' firsts.
Artificial intelligence will start writing marketing strategies for Baltimore companies after a $1.1 million partnership between a Baltimore County marketing firm and an Australian technology company, BBJ's Matt Hooke reports . The C-360 Agency in Baltimore County is using software from Robotic Marketer to cut down on the time required to create marketing strategies. The technology allows C-360 to build a marketing strategy for a client in 30 days for several thousand dollars, instead of the $50,000 and two to four months it usually takes to produce a plan. Read on for more about how the company envisions AI's role in its future .
Trader Joe's announces more recalls
As a spokesperson for Joes everywhere, I feel obligated to comment on a recent string of recalls from the grocer Trader Joe's. The Associated Press reports that just one week after the company recalled cookie products that may have contained rocks, the chain's broccoli cheddar soup and falafel are under scrutiny. Trader Joe's Fully Cooked Falafel — sold in Maryland among other states — may contain rocks, and the Unexpected Broccoli Cheddar Soup may have insects in the product, according to the AP and a company recall announcement. A Trader Joe's spokesperson told the AP “there was an issue in the manufacturing processes in the facilities.” No kidding.
Katie Ledecky passes Michael Phelps for individual world titles
A D.C. athletic titan has unseated a Baltimore one. Katie Ledecky's victory in the 800-meter freestyle at the world championships in Japan on Saturday was her 16th individual world title, surpassing Baltimore native Michael Phelps for the most gold medals at worlds, according to the Associated Press . Her time of 8 minutes, 8.87 seconds in the half-mile race is believed to be six to seven times faster than I could accomplish, according to an internal BBJ staff survey. The gold was Ledecky's second of the tournament after she took top spot in the 1500-meter freestyle earlier in the week. "I kind of wanted to be better than I was tonight," Ledecky said after the win. I can't say I know how she feels.
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A new report by the online real estate data site RentCafe showed that Baltimore is the fourth city in the U.S. for converting older office and hotel space into apartments, my colleague Melody Simmons reports . The analysis, using data from Yardi Matrix, mapped where adaptive reuse projects were strong last year. The top 10 cities included Los Angeles, Kissimmee, Florida, and Alexandria, Virginia. RentCafe called Baltimore an "adaptive reuse hotspot," where old office towers that are now apartment hubs include 10 Light St., the Crescent Building near Lexington Market, 225 N. Calvert St. and The Lenore. Read on for this and other real estate happenings in this week's RE Insider .
Home insurance is pricier than ever — and there's no end in sight
Home insurance prices are up, but coverage isn't getting any better. After years of shrinking profits due to natural disasters, inflation and supply chain disruptions, insurance companies are pushing more risk than ever onto homeowners, the Wall Street Journal reports . The hikes are not just coming in states like Florida, Louisiana and California where extreme weather events are more common (where some insurers have stopped selling insurance altogether). According to WSJ's analysis of pricing data, Maryland home insurance rates have increased 10-15% since January 2022. As global warming intensifies, insurance analysts expect premiums to continue rising.
Baltimore Center Stage readies for half-price ticket sale
Keep your browsers at the ready — Baltimore Center Stage is offering 50% discounts on five select productions for the 2023-24 season, Baltimore Fishbowl reports . Starting tomorrow, the sale will run through Friday, or until 500 tickets are sold. The limited time offer applies to “Lady Day at Emerson’s Bar and Grill,” "Cinderella (Enchanted Edition)," "Mexodus," and more. Other tickets to the season's productions will also open up this week. I don't know much about theater, so I can't make any informed recommendations here. But in the words of Shakespeare's Jacques: "All the world's a blog, And all the men and women merely bloggers."
Orioles pitching staff notches a first in Friday victory
Mother Nature isn't the only one who's been throwing heat in Baltimore recently. Sadly for us Yankee fans, the Orioles had an exciting first at Camden Yards Friday night. Per MLB.com's Sarah Langs , Friday's victory over the Yankees was the first time the Orioles recorded a 100+ mile per hour strikeout from multiple pitchers since pitch tracking began in 2008. Orioles starter Grayson Rodriguez overpowered the Yankees with 100.1 and 100.2 mile per hour Ks in the first two innings and flamethrower Felix Bautista sat down a Yankee in the 9th inning with 101.7. If it were against another opponent I may actually be excited.
Maryland credit card debt on the rise, study says
According to an analysis of debt statistics from the Federal Reserve Bank of New York conducted by Moneywise, Maryland ranks 4th among U.S. states in credit card debt per borrower. At $4,190 per borrow, Maryland trails on Alaska ($4,430), Hawaii ($4,260) and New Jersey ($4,220) in the category. The numbers signal a nationwide increase in credit card debt, according to the study. Alaska's credit card debt increased 9%, and Hawaii's and New Jersey's both jumped 14%. Mississippi boasts the least credit card debt per borrower at just $2,450 according to the analysis.