April 22, 2016 |
Robert L. Frank, 90, a former financial analyst, died Monday, April 18, of pneumonia at Harlee Manor Nursing Facility in Springfield, Delaware County, where he had resided for 31/2 years. The third of eight children, Mr. Frank was a dedicated member of the Springfield Township community, where he grew up, delivered newspapers, and served as an altar boy at St. Francis of Assisi parish. He was a Boy Scout - certified as an Eagle Scout in 1943 - and remained active in scouting throughout most of his life.
March 29, 2016 |
DuPont Co. collected $2.5 billion in after-tax profits last year. Dow Chemical Co. collected $4 billion. They aren't guaranteeing how many of the 5,000 or so people they still employ in Delaware will still have jobs when they are done merging and then splitting into three successor companies in a couple of years. So Delaware Gov. Jack Markell and state legislators from both parties say they felt they didn't have much choice but to give these highly profitable chemical-makers millions in grants and tax concessions, in hopes they won't fire or move more people away.
March 16, 2016 |
Just three months after he was named DuPont Co.'s top plastics executive, Patrick E. Lindner has quit the company where he worked for 20 years to join Delaware-based W.L. Gore & Associates, the privately held $3 billion developer of Gore-Tex fabrics. "He brings a broad range of complementary experience and expertise to Gore," Gore spokeswoman Amy Calhoun said Monday. "We're confident he will contribute in many ways. " Gore, which employs 10,000, eschews traditional business titles.
March 4, 2016 |
Dow Chemical Co. and the DuPont Co. have agreed to pay Dow's lame-duck CEO, Andrew Liveris, $53 million in cash, stock, and tax reimbursement payments, and DuPont CEO Edward Breen $27 million in 2017 after the combined companies break into three successor firms, the companies told investors and the Securities and Exchange Commission in a filing Wednesday. The CEOs have assembled these multimillion-dollar pay packages, which the company filing calls "golden parachutes," while planning and executing billions of dollars in cost cuts and plant and warehouse closings.
February 21, 2016 |
In what Gov. Jack Markell called "a win for Delaware," the DuPont Co. and Dow Chemical Co. said Friday that they had picked DuPont's Chestnut Run office complex outside Wilmington as the headquarters for top officials of their planned new combined pesticide and seed company, which will bear the DuPont name. Delaware promised income-tax rebates for workers earning above $70,000 a year, $6 million in construction capital expenditure grants, and $3.6 million "to support employment" to keep the headquarters, state officials said in a statement.
January 13, 2016
Scholars, shareholders, the newly separated, and the long-frustrated have plenty to say about cuts to the central research and business units at DuPont Co. by new CEO Edward Breen . Some highlights: "DuPont struggled with return on R&D over the years," notes Ben duPont , a shareholder and past manager at the chemical giant that bears his ancestor's name. "For 40 years, like a drumbeat, every few years DuPont introduced a new blockbuster product - nylon, Teflon, Tyvek, Delrin, Kevlar, Lycra, Kapton, Neoprene, Mylar . " (They weren't all blockbusters; duPont still has a pair of Corfam shoes - the Edsel of leather.)
January 11, 2016
The gang now running DuPont Co. , that incubator of 20th-century U.S. industry, is scrapping many of its Wilmington headquarters institutions, as if they were old Rust Belt factories. Glowing paints and super plastics, miracle fabrics and insulators, electronics and fuel additives and their often toxic by-products are just a few of DuPont's highlights. Its science and engineering created that new-car smell, the snug and cleanable feel of a mass-marketed American home, and the security and menace of a fully equipped American soldier.
January 1, 2016 |
For the first time, global corporate dealmaking topped $5 trillion this year as companies paid dearly for growth in a slow economy. The total represented a 37 percent increase from 2014, according to financial data firm Dealogic. That was thanks to a large number of megadeals worth $10 billion or more, including two in pharmaceuticals and beer, worth more than $100 billion. The $65.59 billion merger announced this month between Dow Chemical Co. and Wilmington's DuPont Co., among the top 10 globally, accounted for more than half the $113.4 billion worth of deals this year involving Philadelphia-area companies, data from Bloomberg L.P. showed.
December 31, 2015 |
DuPont Co. will cut 1,700 of the 6,100 jobs in its home state of Delaware next month, chief executive Edward Breen told staff in a memo Tuesday. The cuts, at offices and labs along the I-95 corridor, are part of Breen's effort to eliminate more than 5,000 of the company's 54,000 worldwide jobs before DuPont's proposed merger with Dow Chemical Co. and their planned breakup into separate pesticide, materials, and "specialty products" companies....
December 17, 2015
By Vic Brown More than anything else, I can still clearly see the little girls in their white dresses and veils, and the little boys in their nice blue suits. They were there with their families, sprinkled throughout the Green Room restaurant in the Hotel DuPont in Wilmington. That's what happened in those days, on a May Sunday morning following First Communion at the local parishes. The families would not throw parties but would opt instead for an elegant family breakfast in the most elegant restaurant in town.