September 20, 2013 |
Jerry Schiano was driving to work Monday at New Penn Financial , the Plymouth Meeting home-loan company he heads, when he heard economist Larry Summers had asked President Obama not to make Summers the next chairman of the Federal Reserve. "We'll have a good day!" Schiano exulted. Summers' withdrawal meant investors would bid down interest rates, expecting current Fed chair Ben Bernanke's cheap-money policy will last longer without Summers' restraining hand.
September 17, 2013 |
Kathy Dughi was supposed to be at the Yankee Stadium game between the New York Yankees and the San Francisco Giants on Friday, Sept. 20. It would be her first presence at any game since suffering a stroke in 2000. Soon after, she had taken up residence at Inglis House, which offers long-term care for the disabled, in West Philadelphia. The Sept. 20 game would be a surprise for her, marking her 60th birthday on Wednesday, Sept. 18, and she would be surrounded at the game by no fewer than 45 friends and family.
September 11, 2013 |
A hard-charging CEO takes the helm of a struggling company, shakes up staff, and spends a fortune acquiring an offshore electronics company with sketchy books and senior executives who spend time palling around with local government leaders. Sales shoot through the roof, albeit under somewhat suspect circumstances, and the CEO and his team reap enormous bonuses. But before long police are kicking in the doors of their acquisition, looking into allegations of bribery. One senior official is arrested.
September 8, 2013 |
NEWARK, N.J. - Cory Booker said Friday that he would step down from the board of his controversial Internet start-up, Waywire, and donate his shares to charity, on the same day he provided 15 years of tax returns to reporters and challenged his Republican opponent in the U.S. Senate race to do so as well. The Newark mayor's involvement in Waywire, a company he founded in 2012 with financing from Silicon Valley tech moguls, is not reflected in the tax returns. A spokesman said Booker, a Democrat, has not made or lost any money from his stake in the company.
September 7, 2013 |
Waiting for the instructor's cue, the class repeated the words out loud: " Parque bajo el puente. " Or "park under the bridge," translated into English. The dozen students were employees of Holt Logistics Corp. and Gloucester Marine Terminal, both in Gloucester City. They were learning Spanish as a second language thanks to a grant from the New Jersey Department of Labor and Workforce Development. The state agency provides the money under a joint program with the New Jersey Business and Industry Association - the umbrella group for the state's business community - and the New Jersey Community College Consortium for Workforce and Economic Development of 19 schools.
September 6, 2013
The Sherman Antitrust Act has been used to prevent corporate behemoths from controlling the nation's railroads, fuel, and computer software. More recently - and questionably - it's been brought to bear on a less essential commodity: bus ads. But don't underestimate the power and importance of mass-transit marketing: The "unique moving billboards" that are SEPTA buses provide among the most "effective forms of advertising for legal services for small...
August 31, 2013 |
Three weeks before the botched demolition of a four-story Center City building killed six people inside an adjacent Salvation Army thrift store, the contractor passed up a chance to rent a high-reach lift that would have made the job much safer, according to a lawsuit filed in the case. The cost - $4,224 for a four-week rental - was too high for the building's owner and the demolition contractor, and resulted in the deadly collapse, the suit alleges. Richard Basciano - the principal figure in STB Investments, the building owner - and Griffin Campbell, the contractor in charge of the demolition project, "rejected the plan for the boom lift because it was too expensive," said the lawsuit, filed in Common Pleas Court last week on behalf of Mariya Plekan, a 52-year-old Ukrainian immigrant who was buried in debris for 13 hours after a brick wall collapsed on top of the thrift shop on June 5. Basciano's attorney, Thomas A. Sprague, declined to comment on the allegation.
August 30, 2013 |
Competition for clients in the rough-and-tumble world of personal-injury law in Philadelphia, intense even during the best of times, is getting sharper. And playing out on SEPTA buses near you. Two of the city's better-known players in that space now are locked in a bitter antitrust battle. One firm is accusing the other of using underhanded and illegal tactics to lock up advertising on SEPTA buses, at the Wells Fargo Center, and on KYW radio, among other spots. In a lawsuit filed in federal District Court in Philadelphia, Larry Pitt & Associates, itself a prodigious advertiser, accuses competitor Lundy Law of violating the Sherman Antitrust Act by illegally signing exclusive ad contracts.
August 29, 2013 |
Amgen's $10.4 billion purchase of Onyx Pharmaceuticals for the sake of cancer drugs prompted much of Monday's discussion in the pharmaceutical world, but AstraZeneca was also buying medicine in that category. AstraZeneca, based in the United Kingdom with facilities in Wilmington and Newark, Del., agreed to pay $225 million up front and perhaps $275 million more for Amplimmune, a privately held biologics company that focuses on developing drugs in cancer immunology. The second (and higher)
August 24, 2013 |
A Dallas, Texas, private-equity firm, Panda Power Funds, is acquiring Moxie Energy's planned Liberty Generating Station in Bradford County, Pa., billed as the first power plant developed to use natural gas from the Marcellus Shale formation. The 829-megawatt plant will produce enough power to supply 1 million homes. Panda will immediately start construction on the 33-acre site in Asylum Township and expects operations to begin by early 2016. The plant will contain twin combined-cycle Siemens gas turbines, manufactured in North Carolina.