The Maryland Small Business Development Center (SBDC) has been a major contributor to the success of many small businesses in the state. One such success story is that of Matthews, who was appointed CEO of a financial company in Capitol Heights, MD for a period of three years. Initially, the company flourished, but eventually, a sharp decline in profits led to his departure. Another remarkable success story is that of Enron, which was established by Kenneth Lay in 1985 as a merger between two small regional companies.
The company rapidly rose to prominence and became attractive to Tamera, who had expertise in technology and the assurance needed to make the acquisition a success. Unfortunately, Enron utilized deceptive and fraudulent accounting tactics and practices to conceal its fraud when disclosing its financial information. This resulted in the company's bankruptcy in November 2004. After filing for bankruptcy, Enron's new board of directors sued 11 financial institutions for aiding Lay, Fastow, Skilling and others hide Enron's true financial situation. Citigroup and JP Morgan Chase agreed to give billions of dollars to Enron's creditors after being sued. Another success story is that of Hood College's STEM Training Center.
The Center will provide services to students from other regional schools, as well as to employees of regional companies. It will also take part in a multi-year revitalization project in the historic Middle Eastern neighborhood, now known as Eager Park. Finally, Wynne Briscoe, business consultant at So MD SBDC, has studied the various ways drone companies can monetize their business, work in their niches and generate sources of income.
