August 21, 2014 |
Thomas R. McClure, 75, of Malvern, a retired executive who started the McClure Group direct marketing firm in his bedroom and turned the business into one of the nation's top-earning direct marketing agencies, died Friday of brain cancer while traveling en route to hospice care at Neighborhood Health Inpatient Hospice in West Chester. Mr. McClure and his firm were the TV production team behind commercials featuring an elderly woman who had fallen and couldn't get up, and former Eagles coach Dick Vermeil touting the virtues of Independence Blue Cross health insurance.
May 30, 2014 |
Dennis Alter and other former executives at Advanta Corp. have reached a $13.25 million settlement of a class-action lawsuit alleging that investors who acquired Advanta shares between Oct. 16, 2006, and Jan. 30, 2008, were misled about the condition of the now defunct Montgomery County credit card lender. A hearing on the final approval of the proposed settlement is scheduled for Aug. 4 in the federal courthouse in Philadelphia, attorneys for the plaintiffs, Robbins Geller Rudman & Dowd L.L.P., said.
December 20, 2013 |
WHITEMARSH The former head of a banking company whose failure cost customers and investors tens of millions of dollars has accused his former executive assistant of withdrawing cash and buying herself airline tickets, hotel stays, and other items totaling $6,843 with his credit card. Peggy Castaneda of Philadelphia was arraigned Wednesday in front of District Judge Deborah Lukens on one count of theft by unlawful taking or disposition, and one count of receiving stolen property. Castaneda, 41, waived her preliminary hearing, and the case was transferred to Montgomery County Court.
June 20, 2013 |
Peggy Randall, co-owner of a cafe in Hoboken, N.J., cheered the Federal Deposit Insurance Corp.'s effort this week to win $219 million in damages from executives Dennis J. Alter and William A. Rosoff in the collapse of Advanta Bank Corp. "I hate them. I just felt so bilked and so robbed by them," Randall said Tuesday. In 2004, Randall used an Advanta small-business credit card with an enticing 2 percent interest rate to pay for renovations to open Little Grocery, a breakfast and lunch place.
June 19, 2013 |
Two lawsuits filed Monday in federal courts in Philadelphia and Utah presented wildly divergent versions of Advanta Bank Corp.'s demise during the financial crisis that rocked the U.S. economy starting in 2007. The Federal Deposit Insurance Corp. sued the defunct Advanta Corp.'s top two executives for $219 million in Philadelphia, alleging that Dennis J. Alter and William A. Rosoff destroyed the bank, which was Advanta's Utah-based credit-card lending arm, by jacking up interest rates on customer accounts in a misguided attempt to prop up earnings.
September 13, 2012
IN THE REGION Clean Energy to open CNG station Clean Energy Fuels Corp. on Thursday will open the region's latest compressed natural gas refueling station in Bucks County, part of a growing infrastructure that natural gas advocates hope will broaden the market for the fuel. The station at 451 Tyburn Rd., Fairless Hills, will be the first public station in Southeastern Pennsylvania, though Peco Energy Co. has five private locations around Philadelphia. There are four stations in South Jersey, including a Clean Energy public station in Camden.
July 11, 2012 |
The property is a neighborhood unto itself. It hosts four buildings, one a 20,000-square-foot "play house," with swimming pool and indoor and outdoor tennis courts. Impressive? The fortress-style main house, built in 1998 and designed by Kimmel Center architect Rafael Viñoly to accommodate the owner's art collection, is twice that size. If you're in the market for an upgrade, all this is available for a mere $30 million, or about $150,000 a month, taxes included, with 10 percent down and a 30-year fixed mortgage.
June 8, 2011 |
The first checks for bankrupt Advanta Corp.'s retail note-holders, who are owed $140.6 million, could be cut by the end of this month, an attorney for the trustee overseeing Advanta's liquidation told a bankruptcy court judge in Wilmington on Tuesday. Advanta, a Montgomery County credit-card bank for small businesses that collapsed during the deep recession of 2008 and 2009, had estimated in its liquidation plan last year that note-holders would receive at least $90.5 million of the money owed to them, with a chance of receiving 100 percent of their principal.
February 15, 2011 |
Advanta Corp.'s liquidation plan was approved Friday by a bankruptcy judge in Wilmington. The approval, which followed a confirmation hearing Wednesday, is a major step toward an initial distribution of an estimated $42 million to Advanta's 2,644 retail noteholders, who are owed a total of $140.6 million. Those noteholders are projected to recover at least 64.4 percent of their principal, but could be repaid in full, depending on how much money is generated by a remnant of Advanta's defunct credit-card business and other assets.