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BUSINESS
December 15, 1987 | By MARC MELTZER, Daily News Staff Writer
Butcher & Singer was expected to announce later today that part of the ownership of the company will be sold to West German interests, sources outside the company said yesterday. A competitor said reports circulating through the local brokerage community were that foreign interests would make a "major capital investment" in Butcher, a Philadelphia-based, privately held company. "I can't confirm or deny it," Butcher spokesman H.P. Mueller said yesterday. "All I can say is we're going to have a major announcement tomorrow.
BUSINESS
January 19, 1987 | By MARC MELTZER, Daily News Staff Writer
Atlantic Financial Federal is expanding its full-service brokerage business, staffing each of its Philadelphia area branches with a stockbroker and establishing a new subsidiary to be based in Center City. The thrift, largest in the state, also is considering opening separate brokerage offices away from its branches through the subsidiary, to be called AF Investments Inc. "How many offices does Merrill Lynch have in Philadelphia - two or three?" asked Donald R. Caldwell, Atlantic Financial president and chief executive, during an interview.
BUSINESS
December 15, 1989 | By Glenn Burkins, Inquirer Staff Writer
Kidder, Peabody & Co. said yesterday that more than $1 million was missing from one of its trust accounts and that it had fired a Berwyn securities broker in connection with the disappearance. Investigators suspect the money might have been stolen, according to an official close to the case. However, no one has been charged in the two-week- old investigation. "It would not be appropriate for Kidder to tell the story to the press," said Maureen Bailey, a Kidder spokeswoman.
NEWS
March 12, 1997 | By Bill Price, INQUIRER STAFF WRITER
Theodore Campbell Sheaffer, 94, vice chairman emeritus of Janney Montgomery Scott Inc. in Philadelphia, died of heart failure Thursday at his home, Gaylea Farm, in Newtown Square. Mr. Sheaffer, who had been associated with the stock brokerage and investment banking firm since 1945, had maintained an office at the firm's headquarters in Center City and continued to go to work there one day a week. He began his career as comanager of the former C.H. Geist Securities Corp. in Philadelphia in 1931.
BUSINESS
May 16, 1986 | By Terry Bivens, Inquirer Staff Writer
A spokesman for Merrill Lynch & Co. yesterday dismissed as "outrageous" charges that the national brokerage giant prolonged the delivery time on dividend and interest checks to its customers. That charge and others were contained in a suit filed Wednesday in U.S. District Court in Philadelphia on behalf of Jerome H. Ellis, a lawyer in the city. In his suit, Ellis alleges that Merrill Lynch violated federal securities laws by paying dividend and interest checks to him and other customers through an account with Wells Fargo Bank in San Francisco.
NEWS
July 20, 1988 | By Andrew Maykuth, Inquirer Staff Writer
About 25 opponents of Pennsauken's proposed trash incinerator took a new tactic yesterday by picketing the brokerage firm that is handling the financing for the $68 million project. "We want people to know who are behind the scenes of these projects," said Gary Wonderlin, the co-president of Allied Citizens Opposing Pollution after the group marched on the Mount Laurel offices of Smith Barney Harris Upham & Co. Inc. "We want Smith Barney to know that they have a good name that they'd want to uphold, and they shouldn't want to get involved in a sordid project like this," he said.
BUSINESS
May 15, 1986 | By MARC MELTZER, Daily News Staff Writer
A Philadelphia lawyer is suing Merrill Lynch, charging the brokerage with illegally withholding payment of cash dividends for weeks so the firm could use the money for its own investment purposes. Merrill Lynch and its chief executive, W.A. Schreyer, were sued by attorney Jerome Ellis in a proposed class action filed yesterday in federal court in Philadelphia. Ellis, a customer of Merrill Lynch's Philadelphia office, has accused the firm of racketeering, fraud, violating its fiduciary duty and breach of contract.
BUSINESS
June 7, 1988 | By Richard Burke, Inquirer Staff Writer
The Pennsylvania Securities Commission has accused Blinder, Robinson & Co., the nation's largest brokerage firm specializing in "penny stocks," of conducting business in a "deceptive," "dishonest" and "unethical" fashion. It warned the company to comply with state law or face sanctions. In a four-page cease-and-desist order issued by the commission on Friday, Blinder Robinson, of Denver, was accused of violating the Pennsylvania Securities Act of 1972 by "taking unfair advantage of customers" through untrue statements and omissions.
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NEWS
July 27, 2016 | By Jacob Adelman, STAFF WRITER
Mount Laurel, N.J.-based retail brokerage Metro Commercial Real Estate Inc. has moved its Center City Philadelphia operation to a 4,000-square-foot suite at 1760 Market Street, company president Tom Londres said. The move from its previous 1,000-square-foot space in the Wells Fargo Building at 123 S. Broad St. enabled the company to increase its Center City headcount to 12 from four, Londres said Monday. The company is boosting its Center City presence to keep up with the increasing number of transactions it handles in the district, Londres said.
NEWS
April 16, 2016 | By Jacob Adelman, STAFF WRITER
Community Integrated Services is expanding its operations at 441 N. Fifth St., in Northern Liberties, to about 8,700 square feet, according to brokerage PernaFrederick Commercial Real Estate, which represented the employment-search and -support agency in the lease. CIS, which specializes in job placements for people with disabilities, has occupied about 6,400 square feet in the 80,000-square-foot, four-story building since 2006, PernaFrederick said in a release on Thursday. The lease extends to "the later years of this decade," the brokerage said.
NEWS
July 28, 2015 | By Bonnie L. Cook, Inquirer Staff Writer
Mary Ann Mellon Melchiorre, 79, of Ardmore, a mother, lawyer, and brokerage firm officer, died Thursday, July 16, of complications from dementia at Saunders House in Wynnewood. Born in Philadelphia, she was the daughter of Lawrence J. and Kathryn Pizzagno Mellon. Ms. Melchiorre grew up in Colwyn and graduated from West Catholic High School. She went to work for the former Bell Telephone Co. of Pennsylvania, where she met Joseph Melchiorre. The two married and moved to Ardmore to raise a family.
BUSINESS
May 12, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
The U.S. Postal Service 's inspector general recommends that the agency fire CBRE Inc. , the largest U.S. commercial real estate broker, and rebid the company's four-year-old contract for renting new post offices and selling old ones. Inspectors, writing last month, wrote that CBRE's practice of representing private-sector landlords and buyers, while also representing the Postal Service on the other side of the same deals, is "inherently risky" and creates "conflicts of interest.
BUSINESS
May 10, 2015 | By Jacob Adelman, Inquirer Staff Writer
The Delaware River pier where the KatManDu nightclub once operated is for sale. Pier 25, now the site of Cavanaugh's River Deck, has been listed by Colliers International, the brokerage said today in a statement. Bids on the 90,400-square-foot property at 417 N. Columbus Blvd., between Waterfront Square and Dave & Busters, are due on August 15, according to Colliers. The property would be well-suited for a residential complex with retail, the brokerage said. Colliers also said it was listing Downey's Restaurant, a nearly four-decade-old pub at Front and South streets.
BUSINESS
April 7, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
One of the nation's biggest retail landlords says it has turned the page on last year's troubles and is ready to grow again. Five months after its stock lost more than half its value in a financial-reporting scandal, American Realty Capital Properties (Nasdaq: ARCP), one of many firms set up by Jenkintown scrap-metal heir-turned-property mogul Nicholas Schorsch, still controls impressive assets: nearly 5,000 Lowe's building-supply stores, Red Lobster restaurants, CVS pharmacies, Citizens Bank branches, and others, totaling over 100 million square feet.
NEWS
March 26, 2015
M IKE MAHER, 32, of Southwest Center City, is co-founder and CEO of Houwzer. The startup wants to disrupt the residential real-estate-brokerage biz by creating a more competitive marketplace for home buyers and sellers. Maher and his wife, Jennifer, co-founded the Center City co-working space Benjamin's Desk in 2012. Houwzer is located in Benjamin's Desk. Q: How did Houwzer start? A: My partner Kevin Baird approached me in October 2013. He'd been developing townhomes here and was frustrated by big commission checks for real-estate agents when he was doing much of the work.
BUSINESS
February 23, 2015 | By Erin Arvedlund, Inquirer Staff Writer
Local start-up Houwzer.com is building a real estate brokerage around helping home sellers save money - by selling their houses practically for free. Yes, the real estate commission for the seller's agent could be a thing of the past. Home sellers save the 3 percent commission by listing their property with Houwzer.com, says cofounder Michael Maher. "On a $500,000 transaction, we save the seller $15,000," Maher said. Houwzer.com currently has about 60 seller listings on its site, and anticipates 250 listings in 2015, he added.
NEWS
November 21, 2014 | By Mark Fazlollah, Inquirer Staff Writer
A top financial officer at a Paoli brokerage firm stole $750,000 from the company, spending the money on high-end clothing from Bergdorf Goodman, a vacation in Mexico, and stays at luxury hotels, including New York's Waldorf Astoria. Tracey McShane, 40, of Chester County, was indicted Tuesday on federal charges of wire fraud and filing false tax returns in the theft from Pacer Financial Inc. McShane, who could not be reached for comment, was Pacer's director of financial operations, responsible for bookkeeping, general accounting, and overseeing the payroll.
BUSINESS
August 22, 2014 | By Linda Loyd, Inquirer Staff Writer
Was it sabotage? A federal judge didn't think so. He called it a case of the "broker wars" at the Port of Philadelphia. Ozburn-Hessey Logistics, one of the world's largest third-party logistics companies, sued when 10 employees left to start a rival U.S. Customs brokerage in Philadelphia. Customs brokers help importers clear perishable produce through customs inspections at U.S. ports before it is delivered to grocery stores. Philadelphia is a major perishables port, and about 150 companies ship fresh produce through here, noted U.S. District Judge L. Felipe Restrepo.
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