April 7, 2014 |
Change is good (sometimes). Change is inevitable. Change comes to Philly50. The first quarter of 2014 is history, so it's time to review changes or possible changes to the only list that matters. Three Philadelphia-area companies with high market capitalizations that were on the list Jan. 5, the first Sunday of 2014, were gone from the list on Sunday, March 30. Three companies took their place. One company on the list for several years might soon exit. The Philly50 committee will meet soon at an undisclosed location to mull the issues.
March 28, 2014 |
Food lineup at the ballpark They say 2014 will be a rebuilding year for the Phillies. Same for Aramark, which handles the food at Citizens Bank Park. For its 11th season at the ballpark, Aramark rebuilt many kitchens. The new equipment will allow for new food options and perhaps add speed. At least part of the new lineup will be served Thursday. And it's smokin'. Kevin Tedesco, Aramark's general manager, and Jeremy Campbell, its director of concessions, seem pumped about the pastrami that's brined and smoked in-house, as well as the house-braised and -smoked brisket.
February 13, 2014
J IM WASSERSON, 55, of Washington Crossing, Bucks County, is CEO and president of Clean Rental, on American Street near Cayuga in Feltonville. Founded by Wasserson's grandfather in 1918, it originally supplied coveralls to factory workers. Today it's a leading independent uniform- rental company, with more than 100,000 of its uniforms worn daily. Q: What's the biz do? A: We clean and rent uniforms for almost every industry. Our trucks pick up and deliver once a week. We deliver clean uniforms and bring back soiled uniforms and clean them.
February 7, 2014 |
Aramark Holdings Corp. spent $5.2 million refining its brand and logo, and awarded $4.3 million to executives for the completion of the Philadelphia company's initial public offering in December. Those are two concrete tidbits from Aramark's quarterly earnings, released Wednesday, its first since the food- and uniform-services company listed its stock publicly for the third time. In early trading Wednesday, Aramark's shares shot as high as $29.71 from $24.99 the day before, but they settled down to close at $26.10, up $1.11 or 4.44 percent.
January 13, 2014 |
Dramatic market moves and a wave of initial stock offerings bring three new company names to the Philly50 for 2014, while three others have been edged off the list. Rising stock prices put all 50 companies on the list above $1 billion in market capitalization - at least for now. The newcomers are: Aramark Holdings Corp. , which introduced its ticker symbol, ARMK, to the New York Stock Exchange in December, when the company went public for the third time since its founding in Philadelphia in 1959.
December 14, 2013 |
NEW YORK - When Eric J. Foss, Aramark's chief executive, huddled for about 20 minutes Thursday morning with traders on the floor of the New York Stock Exchange waiting for the first trade of the Philadelphia company's new shares, that may well have been the longest break he's had in the last week and a half. Foss and other Aramark executives have been to nine cities in the last eight days, meeting with more than 200 institutional investors to drum up interest in Aramark, which was going public for the third time.
December 9, 2013 |
Let the road show begin. Aramark, one of the world's leading purveyors of hot dogs and hospital gowns (among many other things), last week began pitching itself to potential investors. The Philadelphia company has undertaken its third IPO with a goal of raising at least $561 million after expenses to go toward paying off portions of its $5.8 billion debt. The first step in the sale is the so-called road show, in which company representatives make presentations to analysts, fund managers, and potential investors in hopes of boosting interest.
September 11, 2013 |
As had been expected since late July, Aramark, the Philadelphia food-service giant, filed Monday with the Securities and Exchange Commission for its third public offering of stock. The filing, called an S-1, lacked details, such as how many shares the company will sell and at what price, but said the company would use the proceeds to repay some of its $6.2 billion in debt. Analysts have estimated that Aramark, owned by a group of private equity firms and management, could be worth as much as $12 billion on the stock market.
August 25, 2013
TO BECOME A journalist, I had to unlearn good manners. Mom always taught me that you didn't ask people their age, money, religion or politics, in that order. That's rude, she said. She may have been right for dinner parties, but this job often requires asking rude questions. Or making rude suggestions. I am reluctant to tell other people how to spend their own hard-earned money, but I will do it because some readers asked, after my Aug. 19 column that basically decried Philadelphia's lack of leaders, where they will come from.
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.