July 4, 2013 |
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.
July 2, 2013
In the Region Pepper Hamilton renews C.C. lease Brandywine Realty Trust , the Radnor-based office landlord, said it executed a long-term lease renewal with Pepper Hamilton L.L.P. on the law firm's 268,000 square feet of office space at Two Logan Square in Center City. The existing lease had been set to expire in 2015. Pepper Hamilton is one of Brandywine's three largest tenants. Among its many holdings, Brandywine owns three office buildings comprising 2.3 million square feet in the Logan Square area.
June 25, 2013
Mark G. Allen has been named the inaugural scientific director of the University of Pennsylvania's Krishna P. Singh Center for Nanotechnology. Allen, a pioneer in the field of micro-electromechanical systems and nanofabrication technology, is currently Regents' Professor in the School of Electrical and Computer Engineering at the Georgia Institute of Technology and holds the J.M. Pettit Professorship in Microelectronics. Singh, founder, president, and chief executive officer of Holtec International in Marlton, is a co-managing director of Interstate General Media , publisher of The Inquirer, the Philadelphia Daily News, and Philly.com.
June 18, 2013
Securities trades recently reported to the Securities and Exchange Commission by officers, directors and principal shareholders of corporations based or having sizable employment in the Philadelphia area. Titles are as reported to the SEC. AmerisourceBergen Corp. David W. Neu , officer, sold 42,187 shares at $52.93 to $52.98 on June 6, and now directly holds 39,382 shares. Aqua America Inc. Nicholas DeBenedictis , president, sold 99,176 shares at $30.37 to $30.69 June 4 to June 5, and now directly holds 809,751 shares.
June 4, 2013
Obermayer Rebmann Maxwell & Hippel L.L.P. partner Michael E. Bertin was appointed cochair of the legislative committee of the Family Law Section of the Pennsylvania Bar Association . Bertin is chair of the Family Law Section of the Philadelphia Bar Association. WSFS Financial Corp., Wilmington, parent company of WSFS Bank, elected Eleuthère I. du Pont and David G. Turner to its board. Du Pont is president of the Longwood Foundation, which supports charitable organizations; he had been senior vice president for operations and chief financial officer of Drugstore.com.