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Gsi Commerce

NEWS
May 11, 2014 | By Jeremy Roebuck, Inquirer Staff Writer
A former eBay executive faces up to 20 years in prison and $5 million in fines after pleading guilty Friday to insider-trading violations tied to the auction website's 2011 acquisition of a King of Prussia-based e-commerce firm. Christopher Saridakis, 45, of Greenville, Del., then head of marketing solutions at GSI Commerce, tipped off two friends and two relatives to the pending $2.4 billion deal and urged them to buy stock in advance of the sale. When the acquisition was announced in June 2011, GSI's stock price jumped more than 50 percent, leading to more than $300,000 in illegal profits for the traders.
BUSINESS
April 27, 2014 | By Jeremy Roebuck, Inquirer Staff Writer
A former eBay executive was charged Friday with criminal and civil insider-trading violations tied to the auction website's 2011 acquisition of a King of Prussia-based e-commerce firm. Federal authorities allege Christopher Saridakis, 45, of Greenville, Del., then head of marketing solutions at GSI Commerce, tipped off two friends and two relatives to the pending $2.4 billion deal and urged them to buy stock in advance of the sale. When the acquisition was announced in June 2011, GSI's stock price jumped more than 50 percent, leading to more than $300,000 in illegal profits for the traders, according to court filings unsealed Friday.
BUSINESS
July 2, 2007 | Inquirer staff
The Theatre Alliance of Greater Philadelphia named Margie Salvante executive director. Salvante was previously director of education for Roundabout Theatre Co. in New York. PointRoll Inc., a West Conshohocken online advertising subsidiary of Gannett Co. Inc., promoted Becky Churilla to director of marketing from senior brand manager. Peter Kelly will take over in September as vice president for finance and chief financial officer at UGI Corp., the energy holding company in Valley Forge.
BUSINESS
November 22, 2010
The Center for Autism , a nonprofit autism treatment and evaluation center, has named Silvana Battaglia , John C. Bickel , and Margaret C. Souders to its board of directors. Battaglia is senior vice president of human resources for Day & Zimmerman Group Inc. Bickel is the president of Hollister Construction Services' Pennsylvania office. Souders is on the faculty at the University of Pennsylvania's School of Nursing and has a clinical appointment as a pediatric nurse practitioner for the Children's Hospital of Philadelphia Clinical Genetics Center and Center for Autism Research.
BUSINESS
March 31, 2011
In the Region J&J reorganizes unit Johnson & Johnson is reorganizing its McNeil Consumer Healthcare unit to give more attention to the business, which has been stung by around 20 recalls of products including Tylenol, Motrin, and Benadryl. The company's Fort Washington factory has been linked to millions of bottles of defective medicine. On Monday, Johnson & Johnson will make McNeil a separate organization within J&J. It had been part of a larger group of consumer health-care units.
BUSINESS
April 5, 2011 | By Joseph N. DiStefano, Inquirer Staff Writer
For the second time in a decade, Michael G. Rubin is selling the business he heads - and keeping some of it, too. Online-auction manager eBay has big plans for its latest proposed Philadelphia-area acquisition, GSI Commerce , which employs approximately 1,000 workers at its King of Prussia headquarters and thousands more at warehouses across North America. But Rubin isn't just selling his company, the publicly traded GSI. He's also buying back the parts he wants, with eBay's blessing, plus eBay financing for further expansion.
BUSINESS
April 19, 2012 | Joe DiStefano
Five Below Inc., the Center City-based chain of 192 kid-oriented dollar stores in 16 Eastern and Midwestern states, has hired Goldman Sachs and other brokers to lure investors for a $150 million initial public stock offering. The chain, founded in 2003 by former Zany Brainy toy-store owners David Schlessinger and Tom Vellios, has grown quickly, especially since investors led by Advent International Corp. of Boston pumped in $194 million in 2010. Five Below more than doubled its sales of cheap sports gear, snacks, party goods, and other middle-school accessories to $297 million in the year ended Jan. 11, from $125 million two years earlier, according to its filing with the Securities and Exchange Commission.
BUSINESS
August 25, 2004 | By Wendy Tanaka INQUIRER STAFF WRITER
If you shop much online, it's possible you've shopped with GSI Commerce Inc. It's also likely you didn't know it at the time. Doing e-commerce work behind the scenes for dozens of well-known retailers and sports organizations has allowed the King of Prussia company not only to survive the tech downturn, but to grow. Today, GSI - which creates and manages e-commerce Web sites and also handles the shipping of merchandise to consumers - has expanded well beyond its original niche, sporting goods, to include retailers Ace Hardware Corp.
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