September 10, 2014 |
FMC Corp., the Center City-based global chemical maker that plans to move its headquarters into a new 49-story tower in University City next year, has dropped plans to split into two companies. Instead, it plans deals that will increase FMC's focus on pesticides and other farm, food, and medical products, while unloading the largest of its remaining raw-materials businesses. Shares rose 0.8 percent, or 52 cents, in Monday trading, to $66.12, after FMC chief executive officer Pierre Brondeau detailed plans to buy Denmark-based pesticide maker Cheminova A/S for $1.8 billion, including $340 million in debt.
September 6, 2014 |
Internet Capital Group, a Radnor-based, publicly traded investment firm, was briefly worth $50 billion as the dot.com frenzy made its stock value soar in 2000. Its value crashed to less than $200 million two years later, as investors realized the start-ups it backed lacked online profits, sales, and customers. It may have missed the Internet's big profits, but the company - still headed by founder, CEO, and chairman Walter "Buck" Buckley and his boom-years lieutenants, president Douglas Alexander and chief financial officer Raymond Kirk Morgan - is back from the near-dead: Shares briefly topped $20 earlier this year for the first time since the collapse, and traded recently in the high teens, for a market value of more than $700 million.
September 4, 2014 |
In response to Sunoco Pipeline L.P.'s plans for a pumping station, a Chester County town passed a series of amendments to its zoning code Tuesday that will make it harder for pipeline companies to win approval for their projects. Under the amendments West Goshen Township supervisors approved at a special public hearing, the township will restrict pipeline companies to industrial areas, require them to prove their projects are necessary as public utilities, and force them to meet a series of requirements regarding safety and emergency planning.
August 30, 2014 |
When leaders of the Pennsylvania Ballet grew weary of a seemingly endless loop of financial strain, they turned to Michael M. Kaiser. With unpaid vendors knocking on the Philadelphia Theatre Company's door and its chances of surviving increasingly in doubt, it was Kaiser who was tapped to gauge how bad the crisis was, why it existed, and what could be done. From his perch in Washington, Kaiser, 60, has become an unseen hand in the Philadelphia arts realm, consulting with PTC and the ballet, the Mural Arts Program, Philadanco, and the Asian Arts Initiative.
August 29, 2014 |
Since 2006, Philadelphia's Mauckingbird Theatre Company has focused on gay-themed stage works - eight years during which progress on such issues as gays in the military and same-sex marriage might have quieted its ardor. But no. "Our mission has always been, and will continue to be, to tell good stories from a queer perspective, no matter what else is going on," says Mauckingbird artistic director Peter Reynolds, a company cofounder with producing director Brandon McShaffrey and managing director Lindsay Mauck.
August 27, 2014 |
Civic leaders have stepped in with a provisional plan to bring Philadelphia Theatre Company back from the brink of financial collapse, and, possibly, secure its long-term viability. The rescue plan, which ties new financial support to a re-organization of the company, was instigated by philanthropist Suzanne Roberts, mother of Comcast chairman Brian Roberts and a longtime patron of the company, and was fleshed out with help from Comcast executive vice president David L. Cohen. It calls for arts consultant Michael M. Kaiser, departing president of Washington's Kennedy Center, to develop a new business plan that is more detailed than the analysis he has already provided at the behest of the Roberts family.
August 23, 2014 |
Robert C. Pappas, 75, of Radford, Va., owner of a Bellmawr firm that he moved to Virginia in 1992, died of cancer on Friday, Aug. 15, at home. Born in Bridgeview, Ill., Mr. Pappas graduated from Argo Community High School in Summit, Ill., and served as a paratrooper in the 101st Army Airborne Division from 1958 to 1961, for a time in Korea, a daughter, Eve Pappas, said in a phone interview. Mr. Pappas earned a bachelor's degree in business and finance in night classes at Northwestern University while working for Intercraft Industries Corp.
August 22, 2014 |
Haverford Township soon will house its ambulances on the Haverford College campus and at the Bon Air Fire Company, officials have announced. The township recently contracted with University of Pennsylvania Health Systems for emergency medical services - ending 60-year-old arrangements with two local fire companies. Officials say the move will save the township about $440,000 annually. "Haverford Township is really upping the level of service in this area," James McCans, paramedic director for the township, said of the agreement.
August 18, 2014 |
Creighton Rothenberger and Katrin Benedikt were at the fabled Chinese Theatre on Hollywood Boulevard the other night, where Sylvester Stallone , Arnold Schwarzenegger , Harrison Ford , Mel Gibson , Wesley Snipes , Antonio Banderas , and Jason Statham rolled up in limos and posed for photos before trotting in to The Expendables 3 premiere. Rothenberger and Benedikt were right alongside them. The couple, who moved to Los Angeles from Philadelphia seven years ago to make it in the movie business, share screenplay credit - with Stallone - on the second sequel in the elder-statesmen action romp.
August 16, 2014 |
The Consumer Financial Protection Bureau has forced a retail chain, USA Discounters, to pay $400,000 and a mortgage lender, Amerisave Mortgage Corp., and its owner to pay more than $20 million in refunds and penalties for deceptive charges imposed on service members and home buyers, the agency said this week. The CFPB said Amerisave used a deceptive "bait-and-switch" scheme, luring customers with mortgage rates available only to people with an unusually high FICO credit score of 800 - even when they had entered a lower score on a referral site that led to Amerisave.