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Unexpected rock removal at the site of the new East Middle School’s bus loop and parking lot in Westminster will cost the Carroll County Public Schools system up to $600,000. The county’s school board unanimously approved a change order allocating the additional funds to the project on Dec. 13. The rock’s existence was unknown when the school board approved the $65.9 million construction ...

Theresa Ann (Terry) Marks Peachey

Harry Markowitz won the 1990 Nobel Prize in economics. Without his groundbreaking work, index funds and 401(k) investing as we know it wouldn’t exist.

Harry M. Markowitz, an economist who launched a revolution in finance, upending traditional thinking about buying stocks and earning the Nobel Memorial Prize in Economic Sciences in 1990 for his breakthrough, died Thursday in San Diego. in 1952, he published his dissertation, “Portfolio Selection,” which overturned this common-sense approach with what became known as modern portfolio theory, widely referred to as MPT.

His theory in finance transformed investing and earned him the Nobel Memorial Prize in Economic Sciences in 1990.