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BUSINESS
March 12, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Fights between financial businesses and their regulators usually take place in the dark, at least until there are charges, or a settlement. But last week owners of two private companies pushed their struggles against what they claim is overbearing government into the public eye: Energy trades. Together, twins Kevin and Richard Gates learned math at Conestoga High School, earned chemical engineering degrees at the University of Virginia, and helped found TFS Capital of West Chester, where they and their partners manage more than $1 billion in other people's money.
NEWS
March 9, 2014 | By Samantha Melamed, Inquirer Staff Writer
With surgery and chemotherapy, Roberta Bash, 67, of Downingtown beat advanced-stage ovarian cancer in 2010. Then, it came back. "Cancer can go dormant, and I didn't know that," she said. The second time, Bash wanted to explore all her options - including an experimental treatment at Penn Medicine that manipulates a patient's tumor cells to trigger an immune response. So, during her surgery last March, instead of allowing her tumor to be tossed out or donated for research, she saved it. The company StoreMyTumor, which markets itself as a concierge service for tumors, negotiated the tissue's harvest, processing, and cryopreservation.
NEWS
March 8, 2014 | By Chris Mondics, Inquirer Staff Writer
It has been a mantra of American business for years - lower the tax rate on multinational corporations to boost their competitive edge and spur the economy in the United States. But a University of Pennsylvania law professor argues in a new study that cutting taxes for multinationals might not achieve the desired result. Professor Chris William Sanchirico says the reason has relatively little to do with whether wealthy Americans and U.S. companies spend additional profit reaped from U.S. tax cuts.
NEWS
March 6, 2014 | By Walter F. Naedele, Inquirer Staff Writer
Lawrence E. Pilot Jr., 90, of Ocean City, N.J., former president of his family's railroad construction firm in Philadelphia, died Saturday, March 1, at Martin Medical Center in Stuart, Fla. In the 1920s, Mr. Pilot's father founded the firm that became Lawrence E. Pilot & Sons, his younger brother T. Ronald said. Ronald Pilot said that after their father departed from the business, Mr. Pilot's "title was president and mine was vice president. " The firm, with headquarters at 30th Street Station, "built bridges and rail yards" for the Pennsylvania Railroad and Lehigh Valley Railroad, among others, he said.
NEWS
March 6, 2014 | By Angelo Fichera, Inquirer Staff Writer
LOGAN TWP. An environmental advocacy group contends that a soil-recycling company's Logan Township facility is jeopardizing public health by improperly processing its materials. The Delaware Riverkeeper Network alleges that Soil Safe has failed to correct the purported offenses despite an October notice of intent to sue by the organization, according to the group's complaint, filed in U.S. District Court on Monday. Soil Safe, which recycles petroleum-contaminated soil, provides remediated soil to the nearby equestrian facility run by the Gloucester County Improvement Authority known as DREAM Park.
BUSINESS
March 5, 2014 | By Bob Fernandez, Inquirer Staff Writer
Comcast Corp., seeking to broaden its Internet services and make money on streamed TV content, is negotiating to purchase a San Mateo, Calif., company that inserts and tracks advertising in Internet and mobile video. Comcast is reportedly looking to pay $320 million for seven-year-old FreeWheel Media Inc. Comcast, the nation's largest cable-TV company and residential Internet provider, already owns the Seattle-based thePlatform, which manages and hosts on-demand video for Comcast and other companies.
NEWS
March 5, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Mayor Nutter remembers the dark days of the Philadelphia Gas Works, when the city lent the utility $45 million and PGW suspended its $18 million annual city franchise fee for seven years to stay afloat. So it was with some pride that Nutter announced Monday that a Connecticut energy company, UIL Holdings Corp., had agreed to buy PGW for $1.86 billion. The sale price is at the upper end of the range that the city's financial adviser estimated the utility would fetch. "PGW literally could have taken the city down," Nutter said in an interview.
BUSINESS
March 2, 2014 | By Andrew Maykuth, Inquirer Staff Writer
The city's yearlong quest to find a buyer for the Philadelphia Gas Works is passing into a new, frenetic phase, and a Connecticut utility that entered the natural-gas business only three years ago is said to be Mayor Nutter's choice to take over PGW. UIL Holdings Corp. of New Haven, parent company of Connecticut electric utility United Illuminating Co. and three New England gas utilities, has been selected by Nutter, according to a published report. Sources said a deal is incomplete, and no terms were disclosed.
BUSINESS
February 23, 2014 | By Chris Mondics, Inquirer Staff Writer
Reed Smith L.L.P.'s Philadelphia office is set to move its 320 lawyers and support staff from One Liberty Place to new quarters at Three Logan Square. When the move is complete March 3, firm leaders say the firm will occupy about 20 percent less space in a reconfigured office with greater energy efficiency and more opportunities for collaboration. "Aside from the burden of unpacking, we are excited about having brand-new surroundings," said Leonard Bernstein, managing partner of the Philadelphia office.
NEWS
February 22, 2014 | By Ben Finley, Inquirer Staff Writer
In what opponents are calling a victory, a company that wants to build a hazardous-waste incinerator in lower Bucks County has put its efforts on hold indefinitely. Allen Toadvine, attorney for Route 13 Bristol Partners, said Bristol Township had asked for more specifics on the potential release of pollutants, and said the firm needed to choose a manufacturer for the plant before it could provide those details. The township Zoning Hearing Board was to consider Monday the firm's application for a variance to build the incinerator, the first step in a years-long approval process that would end at the Pennsylvania Department of Environmental Protection.
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