The Sun Front Page

SUNDAY 08.17.2008
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BALTIMORE, MD
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THE SUN’ S 171ST YEAR: NO. 230
BALTIMORESUN.COM
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★★★★★ FINAL
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$1.88
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PHELPS’ 8 GOLD MEDALS
SOLID GOLD
Phelps seizes history with record 8th gold medal
Michael Phelps (right) and Aaron Peirsol of the United States celebrate after winning the gold medal in the men’s 4x100-meter medley relay final.
I T S U O I N O U Y E [ A S S O C I AT E D P R E S S ]
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REPORTER]
B E I J I N G / / Someday, years from now, when
they tell the tale of the swimmer from Rodgers
Forge and his eight gold medals, it will be difficult
— if not impossible — to know exactly where to
begin.
The epic story of Michael Phelps’ transcendent
Olympics has produced many iconic moments, a
diverse selection of did-I-really-just-see-that? mental snapshots.
These Olympics have always been about making
history for Phelps, a 23-year-old with a long torso,
longer arms and the competitive instincts of a
hungry shark.
In eight races — including this morning’s 400
medley relay, which earned him his eighth gold
medal, breaking the record for a single Olympics
held for 36 years by Mark Spitz — he has provided
us with memories that do not fade.
He has left fellow swimmers to fight through his
wake, and he has nipped them at the wall by margins so thin, the naked eye could not be trusted to
record them. He has bear-hugged his teammates
and roared with appreciation — arms extended,
muscles rippling — at their amazing swims.
Most of all, he has reminded us that it’s OK to
dream up ridiculous feats as long as you truly be-
lieve you can make them reality.
“With so many people saying it couldn’t be done,
all it took was a little imagination,” said Phelps, a
product of the North Baltimore Aquatic Club. “It’s
been such an unbelievable roller coaster. It’s been
such an unbelievable ride. All I want to do is go see
my mom.”
Today’s medley relay was no coronation. The
U.S. all-star lineup of Aaron Piersol, Brendan Hansen, Phelps and Jason Lezak needed one final
world record — Phelps’ seventh of these games —
to secure their teammate’s place in history.
Energy Group
well represented on local compensation list
SPORTS
Top-paid executives
Quarterbacks Smith,
Boller can’t propel
Baltimore past Minnesota,
which wins 23-15. PG 12D
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b y Ja m i e S m i t h H o p k i n s
MARYLAND
[SUN REPORTER ]
Constellation Energy Group
dominated the list of the most
highly paid local executives in
2007, a year in which the company’s stock price rose nearly 50
percent.
Leaders at the Baltimore Gas
and Ele ctric Co. parent accounted for four of the top 10 —
and more than $40 million in
compensation combined. Topping all other executives at publicly traded companies was Constellation Chief Executive Officer
Mayo A. Shattuck III, who earned
about $14 million last year in salary, stock awards, options and
the like.
Baltimore money manager
Legg Mason Inc.’s executives had
less reason to celebrate. The com-
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pany’s stock price declined 40
percent in its last fiscal year —
and so did Chairman Raymond
A. “Chip” Mason’s compensation.
Big corporations continue to be
rewarding to run, even at a time
of economic and stock volatility
— Mason’s $8.1 million pay was
still enough to rank him seventh
among the area’s executives. But
E D I T O R I A L
2 2 A
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analysts say something new is
afoot: After years of complaints
from shareholders, politicians
and unions, public companies
nationwide are getting better at
linking executive compensation
to performance. Experts anticipate continued improvements,
not the least because investors
[Please see TOP PAY, 8A]
L O T T E R Y
3 B
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ENERGY
STRATEGY
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WEATHER
SUNNY
SUNDAY
High, 87; low, 64.
Yesterday’s downtown
high, 84; low, 68. PG 6B
1
2
O B I T U A R I E S
3
4
4 B
To OC, slots present
threat, opportunity
Would parlor at nearby harness track
lure away visitors or stimulate business?
...............................
by Gadi Dechter
O’Malley outlines proposal
to avoid rolling blackouts
predicted for 2011. PG 1B
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SUN SPECIAL REPORT Constellation
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//
salt-water taffy — or give up on
Ocean City altogether.
“Ocean City is Maryland’s only
recreational beach resort, and
we send hundreds of millions of
dollars to the state, over $100
million every year,” said Mayor
Rick Meehan, referring to taxes
generated by tourism. “Why
would anyone want to hurt
that?”
Slots proponents, including
Gov. Martin O’Malley, say that
the local business leadership’s
fears are overblown. They say
expanded gambling is necessary
to avoid deep budget cuts and to
prevent millions in Marylanders’ dollars from continuing
to flow to nearby states that
have slots and casinos, such as
Delaware, Pennsylvania, West
[SUN REPORTER ]
O C E A N C I T Y / / The dusty
harness track in Berlin, with its
minor-league charm and horseand-buggy night races, is no
threat to the tourism juggernaut
on the beach five miles away —
and that’s just how Ocean City
business and political leaders
want to keep it.
But if Marylanders vote in November to legalize slot machine
gambling, Ocean Downs is the
likely site for a 2,500-machine casino, a prospect that conjures
nightmares in the minds of
town officials, who envision
tourists so transfixed by glittery
one-armed bandits that they
forgo boardwalk skee-ball and [Please see SLOTS, 7A]
C R O S S W O R D
1 1 E
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T V
T V B O O K