June 4, 2015 |
Sixt Rent A Car has purchased a building near Philadelphia International Airport for what will be the German company's first Philadelphia location, according to Newmark Grubb Knight Frank, which brokered the sale. The Munich-based car-rental firm bought the 84,471-square-foot industrial building at 3601 Island Ave. for $3.4 million from Pennock Co., NGKF said Tuesday in a release. NGKF also brokered the purchase of a nearby 104,000-square-foot warehouse by a company called Powers Court Partners for $3.48 million, it said in the release.
June 4, 2015 |
Ensuring that Pennsylvania nursing homes provide high-quality care is a worthy pursuit. But Attorney General Kathleen Kane's efforts to do so are tainted by a secretive no-bid contract benefiting a campaign contributor. The Washington law firm Cohen, Milstein, Sellers & Toll offered to act as a sort of bounty hunter for the Attorney General's Office, investigating government-financed nursing homes to determine if they employ enough staff to adequately care for patients. The state could seek fines from those that don't meet requirements.
June 2, 2015
K EN BAKER, 61, of Ambler is CEO and majority owner of New Age Industries, in Southampton, Bucks County. The family business makes and sells high-purity plastic tubing and hose as well as sanitary fittings and hose assemblies for the food-processing and pharmaceutical industries. The firm is 40 percent employee-owned and expects $40 million in revenue this year. Q: What's New Age do? A: We're an industrial-grade manufacturer of plastic and rubber tubing and hose for food processing.
June 1, 2015 |
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.
May 30, 2015 |
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.
May 30, 2015 |
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.
May 20, 2015 |
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.
May 19, 2015 |
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.
May 17, 2015 |
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.
May 16, 2015 |
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.