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NEWS
May 20, 2016 | By Martha Woodall, Staff Writer
The day before the Philadelphia School Reform Commission is scheduled to vote on several charter school renewals, the city controller on Wednesday released a report criticizing the financial management of two charter operators. The Controller's Office outlined problems it found when it examined the operations of Aspira of Pennsylvania and Kenny Gamble's Universal Companies. Among other things, the report found questionable financial transactions among related entities, including loan guarantees; school-lease arrangements with parent organizations; and charter board members serving on boards with ties to the schools.
NEWS
May 20, 2016
A 61-year-old Montgomery County man pleaded guilty Wednesday in federal court to failing to pay more than $200,000 in income taxes based on his work for a Philadelphia law firm, prosecutors said. Francis J. Bass was a former intake coordinator for Lundy Law, one of the city's most prolific personal-injury firms. Bass referred personal-injury clients to medical providers and private investigators, who in turn paid him approximately $500 for each referral, prosecutors said. Bass failed to report a majority of the income he made from those referrals from 2009 through 2013, prosecutors said.
BUSINESS
May 18, 2016 | By Harold Brubaker, STAFF WRITER
Two companies in New Castle County, Del., and one in Berks County, Pa., were among those to receive export awards from the U.S. Department of Commerce, the federal agency said Monday. The so-called "E Award" recognizes companies that demonstrate a sustained increase in exports over a four-year period. The area winners were Radius Corp., a Kutztown, manufacturer of toothbrushes and related items; Delaware Diamond Knives Inc., a Wilmington manufacturer of cutting instruments; and Dimo Corp., a New Castle supplier of aircraft components.
NEWS
May 15, 2016 | By Jacob Adelman, STAFF WRITER
The PFM Group financial advisory firm is moving its corporate headquarters from Two Logan Square at 18th and Arch Streets to a larger space at the BNY Mellon Center building at 1735 Market St. The move is designed to allow the company to expand and will put staff in a better-configured space with more shared areas, chief executive John Bonow said in a release on Friday. The company will occupy the 42nd and 43rd floors at the BNY Mellon building, owned by Chicago-based Equity Commonwealth.
NEWS
May 14, 2016 | By Walter F. Naedele, Staff Writer
After turning his heating and cooling business over to his two sons in 1993, Theodore J. Speer Sr. became a docent on the Battleship New Jersey in Camden. And relying on cabinetmaking classes that he had taken in high school, he built a welcoming podium at the spot where visitors first set foot on the ship. Mr. Speer was "very much into the Navy," said Joe Holland, a friend of 40 years and a former neighbor who, like Mr. Speer, a fellow Navy veteran, had never served on the battleship.
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 | 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.
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