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BUSINESS
May 11, 2016 | By Jane M. Von Bergen, Staff Writer
Two Philadelphia companies that did not pay temporary workers the minimum wage agreed to pay $763,000 in back wages and damages to be distributed among 797 workers. Temporary workers who packaged jewelry at Stanley Creations Inc. in Melrose Park were paid $6 an hour in cash and were not paid overtime when they worked more than 40 hours, the U.S. Labor Department said Monday. Minimum wage in Pennsylvania is $7.25 an hour. Asendia USA in Folcroft, part of a multinational Swiss and French direct mail and distribution company, paid overtime, but based the overtime on a base pay rate of $6.69 per hour, below minimum wage.
BUSINESS
May 7, 2016 | By Chad Terhune, KAISER HEALTH NEWS
The Food and Drug Administration has dropped a recall of about 2,800 scope-cleaning machines in use at hospitals and clinics nationwide despite a finding by a top agency scientist last year that the action was "necessary to protect public health. " The FDA had ordered the equipment off the market in November because it said that Custom Ultrasonics of Ivyland, Bucks County, had repeatedly violated federal safety laws and that those lapses could raise the risk of infection for patients.
NEWS
May 5, 2016 | By Walter F. Naedele, Staff Writer
In the early 1960s, Dean C. Pappas, a student at Dickinson College in Carlisle, Pa., was inspired when he heard the Rev. Dr. Martin Luther King Jr. speak there. "What impressed him was the passion that Dr. King had for the civil rights cause and how he figured out something deeply important to him," Mr. Pappas' son, Dimitri, said. "It was one of several things," Dimitri Pappas said, that caused his father "to examine his own life. " The inspiration he gained as a young man Mr. Pappas was able to put fully into action a year after he retired.
BUSINESS
May 4, 2016 | By Joseph N. DiStefano, Staff Writer
Two Pennsylvania firms that supply construction companies with rental cranes are consolidating operations, in a match made on Wall Street. Apollo Global Management L.L.C., the giant New York private-investment group cofounded by Sixers co-owner Josh Harris, says a group of its funds have agreed to buy both AmQuip Crane Rental of Trevose, which is owned by Clearlake Capital Group L.P., and Pittsburgh-based Maxim Crane Works, a larger rival controlled by...
NEWS
April 30, 2016
Metals manufacturer Carpenter Technology Corp. plans to lease 22,000 square feet at the BNY Mellon Center building in Center City, according to Wayne Fisher, a Newmark Grubb Knight Frank managing director. The company is moving its headquarters to the 54-story building from the Reading area, Fisher, who is involved with the lease negotiations, said Thursday at a meeting of the Center City District business association. Carpenter, which produces and distributes titanium alloys and other premium metals, previously said it was moving its 100-person headquarters to Philadelphia to get closer to its customers.
NEWS
April 30, 2016 | By Linda Loyd, STAFF WRITER
The Wistar Institute in University City will collaborate with a Swedish biopharmaceutical company, with the goal of developing new cancer therapies. The partnership with Cormorant Pharmaceuticals AB, of Stockholm, will pair Wistar's methods for analyzing tumor biopsies with Cormorant's experimental drug HuMax-IL8, which is in early-stage testing in patients at the National Cancer Institute. Wistar scientist Dmitry I. Gabrilovich and colleagues have developed a new biomarker based on understanding how myeloid suppressor cells play a major role in the regulation of immune responses.
BUSINESS
April 29, 2016 | By Harold Brubaker, STAFF WRITER
Southeastern Pennsylvania will have two new companies offering managed Medicaid benefits in 2017, the Pennsylvania Department of Human Services said Wednesday. Entering the market are publicly-traded Centene Corp., of St. Louis, and UPMC For You, part of the giant University of Pittsburgh Medical Center, which dominates the managed Medicaid market in western Pennsylvania. Not selected to continue with the program in the Philadelphia region was Aetna Better Health, which had 73,852 members in March, or 9 percent of the market, according to state data.
NEWS
April 29, 2016 | By Maddie Hanna, TRENTON BUREAU
Gov. Christie, addressing South Jersey business leaders Wednesday, blasted opponents of a state takeover of Atlantic City, and warned against a Democratic-led Legislature that he asserted was in the pocket of unions. The Republican governor, who declared he was "in a loud mood," told about 200 people at the Crowne Plaza in Cherry Hill for a Chamber of Commerce Southern New Jersey luncheon that he wouldn't balk at letting Atlantic City run out of money if the Assembly speaker continues to block a takeover.
NEWS
April 24, 2016 | By Jacob Adelman, STAFF WRITER
Newly formed e-commerce technology company Radial is vacating 100,000 square feet of King of Prussia office space owned by Radnor-based Brandywine Realty Trust. Radial, recently formed through the merger of a former eBay unit and global e-commerce company Innotrac, is consolidating staff at 935 First Ave., King of Prussia, which it owns, spokeswoman Amy Christie said Friday. One of the office buildings it will vacate as a result is Brandywine Realty's 630 Allendale Rd., Christie said.
BUSINESS
April 20, 2016 | By Joseph N. DiStefano, Staff Writer
After five years as eBay Enterprise, the $1 billion-in-annual-sales, King of Prussia-based, 7,500-worker retail-logistics company founded as GSI Commerce is back as an independent firm with a new name, Radial. "We were the smallest business unit in a big public company. Now, commerce technology and commerce operations is the only thing we do," Radial chief executive Tobias Hartmann said before Tuesday's planned unveiling of the new name at the company's headquarters. Hartmann said that the firm has grown beyond taking clients' customer orders and shipping products from its warehouses in Southern states, Canada, and Europe.
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