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Balance Sheet

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NEWS
July 8, 1988 | By Ellen Goodman
There is an anniversary of sorts coming up. On July 12, we will mark one full political cycle: exactly four years since Walter Mondale chose Geraldine Ferraro to be his running mate. That summer morning, there was a televised wave of goose bumps skimming across the arms of millions of women. It was a moment matched only by the evening in San Francisco when this woman accepted her nomination, saying: "My name is Geraldine Ferraro. I stand before you to proclaim tonight: America is the land where dreams can come true for all of us. " But there will be no anniversary celebration.
BUSINESS
November 29, 2015 | By Harold Brubaker, Inquirer Staff Writer
The University of Pennsylvania's Lancaster General Hospital has begun work on a $60 million expansion in downtown Lancaster that will allow the 533-bed facility to convert to all private rooms. Penn completed its acquisition of Lancaster General on August 1. No money changed hands, but the deal added $1 billion in net assets to Penn's balance sheet. Combined, the two systems had $76.76 million in operating profits on $1.29 billion in total revenue in the quarter ended Sept. 30. hbrubaker@phillynews.com 215-854-4651 @InqBrubaker
NEWS
December 22, 2011
Republic First Bancorp Inc. sold $59 million worth of commercial real estate loans to a single investor for net proceeds of $30.6 million, the Philadelphia parent company of Republic Bank said. The loans and foreclosed properties had already been written down to $45.1 million. The sale will result in a $14.5 million loss in the quarter ending this month. Republic, which said the sale substantially cleaned up its balance sheet, had $952.8 million in assets and $833.3 million in deposits on Sept.
NEWS
September 22, 2009
Safeguard Scientifics Inc., a Wayne holding company, said today it sold 2.4 million more shares in Clarient Inc. That brings Safeguard's total sales of Clarient to 18.4 million shares at a total value of $61 million. The transactions leave Safeguard with 28.1 million shares, or 28.5 percent of Clarient's outstanding stock, and 2.75 million warrants to buy additional shares. Safeguard said its stake in Clarient now is worth $131 million. Safeguard, founded in 1953, is an investor in growth-stage life sciences and technology companies.
BUSINESS
January 21, 2014 | By Jane M. Von Bergen, Inquirer Staff Writer
What, you might ask, could possibly be interesting about being an auditor? Isn't it mind-numbing, dealing with dense financial documents coupled with excruciatingly arcane regulations? Not for Robert J. McNeill, 48, the newly elected chairman of the Economy League of Greater Philadelphia and the managing partner of Deloitte's 1,500-employee Philadelphia office. To him, the audit practice provides an opportunity to learn about many different business sectors - without actually having to work in them.
NEWS
February 22, 2002 | Daily News wire services
Safeguard Scientifics presents strong report Safeguard Scientifics, Inc., of Wayne, announced yesterday its fourth quarter reflects continued strong cash balances of $174 million as of Dec. 31, and $170 million as of Wednesday. Marketable securities were $274 million as of Dec. 31, and $226 million as of Wednesday. The company builds and operates business and IT services, software, and technology product companies. "Safeguard's balance sheet is in excellent shape with very strong cash balances and marketable security holdings," said Anthony Craig, president and CEO. Chester Co. firm recalls snack trays for kids A Chester County company is recalling about 8,900 snack and activity trays for children because their suction cups can be installed incorrectly, causing them to detach and become a choking hazard.
NEWS
January 15, 2013
Pennsylvania Real Estate Investment Trust, or PREIT, said it completed the sale of Paxton Towne Centre in Harrisburg for $76.8 million. The sale to Kansas-based Rubenstein Real Estate Co. L.C. represents a gain on approximately $33.6 million, and net proceeds of $24.9 million after closing costs for the trust, PREIT said in a statement. Philadelphia-based PREIT has a portfolio of 47 retail-shopping properties, including the Cherry Hill and Willow Grove Park malls, in 13 states in the eastern half of the United States.
BUSINESS
April 10, 2012
Parke Bank, of Sewell, said it reached agreements with federal and state regulators that require it to clean up its balance sheet by eliminating assets from its books that have already been classified as a loss, among other measures. The bank entered into the consent orders with the Federal Deposit Insurance Corp. and the New Jersey Department of Banking and Insurance after a recent regulatory examination. Parke had net loans of $605.79 million on Dec. 31 and reported net income of $7.27 million for the year.
BUSINESS
January 22, 1988 | By MARC MELTZER, Daily News Staff Writer
Financial losses at Meritor Financial Group, parent of PSFS, mounted during the fourth quarter, pushing the banking company's 1987 net loss to $395.8 million. In 1986, Meritor reported a profit of $22.9 million. The fourth-quarter loss was $35.6 million, compared with a profit of $9.1 million for the same quarter the year before. About $9 million of the quarterly loss was due to "anticipated expenses" from the nine-month restructuring program announced by the company in October.
NEWS
January 17, 2014 | BY GARY THOMPSON, Daily News Staff Writer thompsg@phillynews.com, 215-854-5992
THE Jack Ryan franchise falls to Chris Pine in "Shadow Recruit," a giant do-over that rescues Ryan from middle age and plops him into a new generation. We meet Pine's Ryan pre-CIA: a prologue has him as an undergrad studying in the U.K., witnessing 9/11 from afar, enlisting as a Marine. He is finally recruited to the agency (by Kevin Costner), which plants him undercover on Wall Street to look for sources of terrorist funding. This he does, uncovering a massive scheme to undermine the value of the U.S. dollar (insert Ben Bernanke joke here)
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ARTICLES BY DATE
BUSINESS
November 29, 2015 | By Harold Brubaker, Inquirer Staff Writer
The University of Pennsylvania's Lancaster General Hospital has begun work on a $60 million expansion in downtown Lancaster that will allow the 533-bed facility to convert to all private rooms. Penn completed its acquisition of Lancaster General on August 1. No money changed hands, but the deal added $1 billion in net assets to Penn's balance sheet. Combined, the two systems had $76.76 million in operating profits on $1.29 billion in total revenue in the quarter ended Sept. 30. hbrubaker@phillynews.com 215-854-4651 @InqBrubaker
BUSINESS
May 5, 2014 | By Chris Hepp, Inquirer Staff Writer
Quaker Chemical Corp. doesn't swing for the fences. No, the Conshohocken-based specialty chemical-maker likes to play small ball - watching costs, stressing customer service, making key acquisitions - to keep its balance sheet with a positive tilt. "Our goal is to score runs by hitting many singles," Quaker's chief executive officer, Michael Barry, told stock analysts last week. By Wall Street's measure, Quaker has been hitting the ball pretty well. Since sinking below $5 a share during the Great Recession, its stock has risen fairly steadily.
BUSINESS
March 31, 2014 | By David Sell, Inquirer Staff Writer
Some people, and some companies, look for stability when faced with tumultuous times. Exton-based WPCS International is trying a slightly different tack in meeting its challenges. WPCS, which says it employs about 250 in designing and building communications infrastructure, is diving into bitcoin. Or rather, the technology of trading bitcoin. In existence - virtually - for only a few years, bitcoin is digital money. No central government authority backs bitcoin, as the U.S. government does with the dollar and as other governments do with their currencies.
BUSINESS
January 21, 2014 | By Jane M. Von Bergen, Inquirer Staff Writer
What, you might ask, could possibly be interesting about being an auditor? Isn't it mind-numbing, dealing with dense financial documents coupled with excruciatingly arcane regulations? Not for Robert J. McNeill, 48, the newly elected chairman of the Economy League of Greater Philadelphia and the managing partner of Deloitte's 1,500-employee Philadelphia office. To him, the audit practice provides an opportunity to learn about many different business sectors - without actually having to work in them.
NEWS
January 17, 2014 | BY GARY THOMPSON, Daily News Staff Writer thompsg@phillynews.com, 215-854-5992
THE Jack Ryan franchise falls to Chris Pine in "Shadow Recruit," a giant do-over that rescues Ryan from middle age and plops him into a new generation. We meet Pine's Ryan pre-CIA: a prologue has him as an undergrad studying in the U.K., witnessing 9/11 from afar, enlisting as a Marine. He is finally recruited to the agency (by Kevin Costner), which plants him undercover on Wall Street to look for sources of terrorist funding. This he does, uncovering a massive scheme to undermine the value of the U.S. dollar (insert Ben Bernanke joke here)
BUSINESS
January 8, 2014 | By Harold Brubaker, Inquirer Staff Writer
Philadelphia Orphans' Court Judge John W. Herron was in no hurry Monday to rubber-stamp the Archdiocese of Philadelphia's plan to lease its cemeteries to a for-profit company for $89 million. The proposal is the biggest step yet taken by Archbishop Charles J. Chaput to try to fill deep financial holes in the balance sheet of the five-county archdiocese. Herron questioned whether he had the authority to rule, given that the cemeteries in the agreement with StoneMor Partners L.P., of Levittown, are spread over five counties.
BUSINESS
December 16, 2013 | By Alan J. Heavens, Inquirer Real Estate Writer
It was in the depths of the real estate downturn, June 2010, that Robert I. Toll, cofounder of the luxury home builder Toll Bros. Inc., stepped down as chief executive officer and handed the reins to Douglas C. Yearley Jr. The move had been in the works for a while, but as Yearley recalled in a recent interview at corporate headquarters in Horsham, "Bob wanted to wait a bit until the market showed signs of improvement. " "He didn't want to dump a huge mess into my lap," said Yearley, 53, who joined Toll Bros.
NEWS
July 4, 2013 | By Harold Brubaker, INQUIRER STAFF WRITER
The Archdiocese of Philadelphia on Wednesday reported a staggering $39.2 million loss for the year ended June 30, 2012, while disclosing unprecedented details about longterm financial deficits totaling $350 million. Even after stripping away millions in unusual expenses, including $11.9 million for legal and professional services related to the priest sex-abuse scandal and other issues, the archdiocese said its cash expenses 2012 still exceeded revenue by $17.4 million. "It's not so simple to say our problems are related to the sexual-abuse crisis," Timothy O'Shaughnessy, chief financial officer for the archdiocese, said.
NEWS
March 14, 2013 | By Mike Armstrong, INQUIRER STAFF WRITER
More than a year after receiving regulatory approval for its first drug, Discovery Laboratories Inc. still has not launched Surfaxin, a treatment to prevent a respiratory illness that affects premature infants. The Warrington biotechnology firm now says it expects to begin selling Surfaxin to hospitals during the second quarter after delaying the launch last October. The company said the delay was related to one of the analytical chemistry methods used to assess how the synthetic drug conforms to its product specifications.
NEWS
February 7, 2013
Q: Where can I see historical price-to-earnings (P/E) ratios? - D.L., Columbus, Ind.   A: It's good to seek out such numbers, because when you compare them with a company's recent P/E, you get a sense of how overvalued or undervalued it might be. The website ycharts.com has several years' worth of P/E numbers. At morningstar.com, enter the ticker symbol to get to a company's page, then click on the "Valuation" tab. You'll get the current P/E, the average P/E for the company's industry, the S&P 500's current P/E and the company's five-year average P/E. There's even a "forward" P/E based on expected earnings over the coming year.
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