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NEWS
June 1, 2015 | By Craig R. McCoy and Angela Couloumbis, Inquirer Staff Writers
Last year, the Pennsylvania Attorney General's Office dropped subpoenas on dozens of nursing homes statewide, demanding facts about their staffing - an opening salvo in a probe that could force the homes to pay big fines. The office says the process will improve conditions and pay off for the state's elderly. Someone else could benefit, too - the Cohen, Milstein, Sellers & Toll law firm. The Washington firm stands to pocket up to $21 million of the first $100 million of any fines extracted by state prosecutors.
BUSINESS
May 30, 2015 | By David Sell, Inquirer Staff Writer
The Federal Trade Commission said Thursday that Teva Pharmaceutical Industries Ltd., now the parent company of Cephalon, agreed to repay $1.2 billion in "ill-gotten gains" for pay-to-delay deals when the two companies were competitors. The settlement came as a trial was set to begin Monday in U.S. District Court in Philadelphia. In a 2008 lawsuit, the FTC alleged that Cephalon paid more than $300 million to four generic drugmakers, including Teva, to delay sales of their versions of Cephalon's blockbuster sleep-disorder drug Provigil.
ENTERTAINMENT
May 30, 2015 | By Victoria Mier, Inquirer Staff Writer
The Ben Franklin Parkway will get a makeover into a Parisian-style wonderland with the public art installation "Future Sensations," starting Friday. Partnering with Philadelphia Parks and Recreation and the Fairmount Park Conservancy, the French buildings-material company Saint-Gobain will offer pop-up beer gardens, food trucks, and night-to-day entertainment. But the main events are the five pavilions, ranging from 13 to 70 feet high, and telling the story of Saint-Gobain's 350-year history.
BUSINESS
May 20, 2015 | By Chris Mondics, Inquirer Staff Writer
Is the billable hour, long a staple of the legal industry, going the way of the passenger pigeon, the woolly mammoth and the Pyrenean ibex, extinct species all? Under intense client pressure to justify charges following the stock market crash of 2008, law firms took the first steps during the recession toward moving away from hourly charges by offering clients flat fees or by billing based on case outcomes. Now, the flat-fee movement is gaining momentum, with many big firms employing staffs of MBAs, actuaries and other finance experts to price legal engagements and then to make sure lawyers assigned to these matters stay on budget.
BUSINESS
May 19, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
Lawyers for Gov. Wolf , who campaigned for competitive bidding and lower fees in state legal contracts, told one of the state's biggest employers to hire three Philadelphia law firms - not just the one it wanted - as a condition for routine state and federal tax breaks last month. Back in March, the University of Pennsylvania Health System wanted to borrow up to $400 million for building projects in Philadelphia, Chester County Hospital , and Radnor outpatient offices.
NEWS
May 17, 2015 | By Angelo Fichera, Inquirer Staff Writer
A Pennsauken printing and packaging firm will receive $34 million in tax credits to relocate to and expand in neighboring Camden. Approved Friday morning, the deal for Contemporary Graphic Solutions is another by the New Jersey Economic Development Authority to help bring economic activity to the city. The company plans to also spend about $7.5 million in capital investment and add 56 full-time positions to its current staff of 170, according to a project summary with the agency.
NEWS
May 16, 2015 | By Walter F. Naedele, Inquirer Staff Writer
Wilson Greenwood, 92, of Moorestown, who retired in 1990 as president of the family-owned Globe Dye Works in Frankford, died Tuesday, May 12, at home. The complex of buildings, the first of which was opened in 1865, and where the family closed its yarn-dying operations in 2005, now houses "a community of artists, artisans, and fabricators," a website states. Born in Philadelphia, Mr. Greenwood moved to Moorestown with his parents after the Tacony-Palmyra Bridge was opened in 1929.
BUSINESS
May 15, 2015 | By David Sell, Inquirer Staff Writer
Malvern-based Siemens Medical Solutions USA was supposed to give the U.S. Departments of Defense and Veterans Affairs the best price available for medical-imaging equipment used to examine soldiers and their families, under a contract with the Defense Logistics Agency's supply center in Philadelphia. The government said Siemens failed to do so, and the company agreed to pay $5.9 million to settle the case without admitting wrongdoing, the U.S. Attorney's Office in Philadelphia said Wednesday.
BUSINESS
May 13, 2015 | By Chris Mondics, Inquirer Staff Writer
Lloyd Industries, a Montgomeryville manufacturer of ventilation, duct, and fire-safety products, has been hit with $822,000 in fines by the U.S. Department of Labor for a series of workplace-safety violations. Labor Department officials said Monday that they launched an investigation of the company in November, after an employee lost three fingers operating a metal saw that was not equipped with safety guards. The owner of the company, William Lloyd, was required by law to provide such protection, the Labor Department said.
BUSINESS
May 12, 2015 | By Diane Mastrull, Inquirer Columnist
Her arms draped in Hermes Birkin handbags that retail for $13,000 each, a laughing Linda Lightman had to confess: She doesn't own a single one herself. "But they're coveted by many," she added with considerable appreciation. Such longing will translate into $25 million in sales this year for Linda's Stuff, the online luxury-consignment business Lightman started 15 years ago. At eBay, where a projected $83 billion in gross merchandise value was transacted last year, Linda's Stuff is considered a superstar.
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