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BUSINESS
December 15, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Now that Apple Inc. has hooked the world on smartphones that pack voice calls, Internet, video, cameras, antennas, sensors, and chargers in smooth pocket boxes, engineers are busy finding ways to unpack those features and make them disappear - into clothing, eyeglasses, and other "wearable" systems. Consumers will buy an estimated 19 million wearable computers this year: fitness trackers like Fitbit , wrist computers like Pebble Smartwatch , "augmented- reality" video-game helmets, Google Glass optical computers, and more on the way, says a report by Ramon Llamas , mobile analyst at International Data Corp.
REAL_ESTATE
December 15, 2014 | By Erin Arvedlund, Inquirer Staff Writer
MM Partners real estate development company aims to help transform Philadelphia's Brewerytown neighborhood. By buying and rehabbing shells, stores and empty or underused warehouses, MM Partners hopes to revive the West Girard Avenue retail corridor along with its residential developments. All Philadelphia locals, David Waxman and Jacob Roller are co-managing partners of MM, and Aaron Smith is partner and director of property management, sales and marketing. Currently, they have an office in a recent rehab at 1234 N. 30th St. To date, MM Partners, founded in 2001, has renovated and owns 50 properties in Brewerytown, including mixed-use, multifamily and single-family projects, about $45 million worth within a five-square-mile radius.
NEWS
December 11, 2014 | By Paul Nussbaum, Inquirer Staff Writer
The Delaware River Port Authority has paid about $72,500 this year to the law firms of two DRPA commissioners to represent the pair in an ongoing federal grand jury investigation. The two commissioners, William Sasso and Jeffrey L. Nash, were among several DRPA officials subpoenaed late last year by the grand jury that is investigating millions of dollars of politically connected "economic development" spending by the DRPA. Sasso and Nash, both attorneys, were permitted by the DRPA board to be represented by their own law firms, at DRPA expense.
BUSINESS
December 6, 2014 | By Harold Brubaker, Inquirer Staff Writer
Einstein Healthcare Network has agreed to sell its Belmont Center for Comprehensive Treatment to Acadia Healthcare Co. for $35 million, Einstein announced Thursday. The planned sale includes the Belmont Center, a 147-bed facility on Monument Road, plus a treatment facility in Northeast Philadelphia and an outpatient center for the elderly in Germantown. Belmont behavioral-health facilities - treating psychiatric disorders and addictions, for example - employ 450, who are expected to be hired by Acadia, according to Einstein.
NEWS
November 27, 2014 | By Jeremy Roebuck, Inquirer Staff Writer
The Inquirer's parent company on Monday sued the Center City law firm Morgan Lewis & Bockius L.L.P., seeking to recover more than $880,000 in legal expenses paid during the bitter ownership dispute that led to the media company's sale in May. Lawyers for Interstate General Media contend that Morgan Lewis - retained to represent its interests in the ownership fight between former co-owners Lewis Katz and George E. Norcross III - engaged in fraud,...
BUSINESS
November 26, 2014 | By Chris Mondics, Inquirer Staff Writer
Morgan Lewis & Bockius L.L.P., the Center City-based law firm, announced Monday that it had finalized its acquisition of Bingham McCutchen of Boston, creating one of the world's largest firms and extending Morgan Lewis's dominance in the U.S. legal market. With the addition of 510 Bingham McCutchen lawyers, as well as about 250 additional staff, Morgan Lewis will have more lawyers in the United States than any other firm. Worldwide, the firm will rank among the top five, with just under 2,000 lawyers and revenue of about $2 billion a year.
BUSINESS
November 25, 2014 | By Diane Mastrull, Inquirer Columnist
Turns out the idea of prerecorded video job interviews needs more time to gain acceptance. Nearly five years after forming a Fort Washington company specializing in providing businesses with that high-tech hiring option, the founders of Async Interview won't disclose revenue or even whether the company is profitable. "For the industry as a whole, it's been a longer adoption," said Ehud Israel, chief technology officer at Async. "It's a kind of new concept. " But so, at one time, was the idea of interviewing job candidates over the phone, a concept offering greater efficiencies and cost saving over in-person interviews that took about 10 years to catch on, Israel said.
BUSINESS
November 24, 2014 | By Diane Mastrull, Inquirer Staff Writer
In Greek mythology, she is the goddess of war and wisdom. In Philadelphia's University City, Athena is a more earthly vessel, taking shape to make warriors of female entrepreneurs. DreamIt Athena is a rare business accelerator, exclusively for companies with at least one female founder. Announced this month and accepting applications until Dec. 8 at https://app.wizehive.com/appform/login/2015philly , the program to help women turn their ideas into fundable businesses with growth potential will launch in February with its first cycle of participants, a minimum of four companies.
NEWS
November 21, 2014 | By Howard Gensler
RESISTANCE is futile. Legalized pot is coming. How does Tattle know? Because according to London's Channel 4 News, the family of Bob Marley has teamed up with a private-equity firm to launch Marley Natural. Once Wall Street sees potential profits and tells politicians to jump, the politicians answer the perfectly applicable, in this case, "How high?" (Marley Natural, by the way, was the reggae king's favorite strain of weed, but the brand will also include skin creams, lotions, balm and accessories.)
NEWS
November 16, 2014 | By Chris Mondics, Inquirer Staff Writer
Call it a kind of law-firm Darwinism. A few years ago, it was possible to read any number of reports pronouncing the death of Big Law. Mammoth firms were too inefficient, too slow, and - most important for their clients - too expensive. And it is true, ever since the 2008 financial crisis caused corporate America to rein in its legal spend, some very big law firms have bit the dust. But the Morgan Lewis & Bockius L.L.P. announcement Friday that it plans to acquire much of Boston-based Bingham McCutchen also suggests some law-firm heavyweights will thrive in an era of tighter legal budgets and tougher competition.
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