August 12, 2013 |
Aramark Corp., the Philadelphia food-service and uniform company, confirmed last week that it is contemplating another run at the stock market. It would be the third initial public offering in the history of Aramark, which is headquartered at 11th and Market Streets and employs more than 6,500 people in the city. A third IPO - that could value Aramark at $12 billion, one analyst estimated - would put Aramark in rare company. "There have only been a handful of companies that have gone public three times and have gone private twice," said Jay R. Ritter, a finance professor at the University of Florida in Gainesville.
July 19, 2013
Food-service provider, Aramark announced the construction of a new business services center in Nashville, Tenn., that will affect hundreds of Philadelphia jobs. An Aramark spokesman said that about 300 workers here, primarily in finance and human resources, may choose to apply for positions at the new facility or elsewhere in the company, or face being laid off over the next two to three years. The company, headquartered in Philadelphia, posted global annual revenues of $13.5 billion in its most recent annual report.
May 24, 2013
When your nickname is Donnie Baseball, you better get used to the heat when the team you manage is a miserable 19-26. Dodgers skipper Don Mattingly did not make any allies (among the people most important to him in his job) when, before Wednesday's game vs. the Brewers, he questioned his team's "grit" and the bosses who saddled him with highly paid all-stars he believes don't have much of the stuff. In any case, following his blast, the Dodgers hammered the Brewers, winning, 9-2, to match their highest run total of the season.
May 17, 2013 |
AS AN INMATE laborer at the Curran-Fromhold Correctional Facility, Chal D. Kennedy Sr. worked in the kitchen, heating and serving meals for nearly 400 inmates and then cleaning up after them. That meant scrubbing down two giant ovens once or twice a week with a noxious degreaser that kept him coughing and left a sudsy sludge up his arms. "You look like you just came out from under an automobile," Kennedy, 46, of North Philadelphia, said of the two-hour, two-man cleanups. For the nearly three years he worked that $1.61-a-day job, prison staff ignored inmates' repeated requests for protective gear or training, he said.
May 2, 2013 |
Claude Feninger, 87, of Malvern, who built grand luxury hotels around the world for Hilton, Sheraton and Omni, died Sunday, April 28, of kidney disease at his home. Before his retirement in the early 1990s, Mr. Feninger was president of international operations for Aramark. His responsibilities included servicing the Olympic Games for many years. Throughout his career, Mr. Feninger brought European hotel luxury and services to the United States. On the world stage, he developed, constructed, arranged financing for, and created hotel operations at 85 properties on six continents.
March 12, 2013 |
When Camden's LEAP Academy University Charter School compelled its new food-service management company to retain the school's executive chef and give him a $24,000 raise, LEAP also had to pay a $151,428 penalty to its previous vendor, documents show. Including Michele Pastorello's new $95,000 salary, LEAP has spent nearly $250,000 this school year to keep him employed as executive chef. The position typically pays about $40,000, according to industry experts. Pastorello is the live-in boyfriend of LEAP founder and board chairwoman Gloria Bonilla-Santiago.
February 24, 2013
In the Region Aramark to sell $1B in notes Aramark Corp. , of Philadelphia, the privately held food concessionaire, plans to sell $1 billion of senior notes to refinance debt. The company intends to sell seven-year bonds that may be rated B3 by Moody's Investors Service , according to a person familiar with the offering who asked not to be identified, citing lack of authorization to speak publicly. Aramark is raising funds as it begins a tender offer, announced Thursday, to buy back as much as $2.38 billion of outstanding obligations.
February 14, 2013 |
Food can be high art in some of Philadelphia's best restaurants. But why is it so hard to find a masterpiece meal in one of the city's great art museums? We know it can be done, since Danny Meyer set the bar high for arty destination dining in New York with the Modern at the Museum of Modern Art. But don't hold your breath for such haute-culinary inspirations at a museum near the Benjamin Franklin Parkway. The Barnes Foundation's Garden Restaurant was our best hope for something extraordinary.
December 14, 2012 |
AN ARM of the food-services giant Aramark and a local minority-owned business will pay the city a total of $400,000 to settle a suit that accused the companies of fudging their numbers to skirt minority-participation requirements in a Philadelphia prison system contract, the city announced Thursday. "They really were denying opportunities for legitimate minority companies that wanted to work," said city Inspector General Amy Kurland, whose office oversaw the investigation. Aramark Correctional Services provides three meals a day to prisoners, but it is required to subcontract out 20 percent to 25 percent of the work to businesses owned by minorities, women or disabled persons.