September 11, 2011 |
In this punk U.S. economy, familiar places keep vanishing. Our neighborhood Borders , one of my cable-TV-deprived kids' favorite hangouts, shuts this week. The old Circuit City across the road, where we got our first mobile phones and our first factory-boxed PC, is empty again, after another electronics chain found that it couldn't make money there, either. Let 'em go, said Michael G. Rubin , who last spring sold the online-retail contractor and warehouse company he built and ran, King of Prussia-based GSI Commerce Inc., to eBay Inc. for $2.5 billion.
July 2, 2007 |
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.
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.
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.
November 17, 2010 |
Store owners, job-hunters, investors all want this Christmas shopping season to be busier than last year. Shares of Dick's Sporting Goods jumped 12 percent Tuesday as the Pittsburgh-based national chain posted modestly higher sales in its third-quarter report. Same-store sales at more than 400 Dick's stores rose 5 percent over 2009 levels. Online sales jumped a more-exciting 82 percent, chief financial officer Timothy Kullman told investors. Wall Street connects online sales with low costs and high profits.
March 21, 2012
As Amazon.com killed Borders, crippled Best Buy, and started trimming even Walmart, at least the online retail giant was also hiring thousands of low-wage workers and contract laborers for the warehouses it has been raising in Pennsylvania, Delaware, and a few other states. But Amazon's announcement Monday that it was buying industrial robot-maker Kiva Systems Inc. for $775 million could leave you wondering if retail was going to be completely taken over by machines. Pennsylvania - America's warehouse - is home to one of Amazon's "order fulfillment" clusters, with five locations in the Allentown-to-Carlisle corridor on the Interstate freeways that bypass I-95 and the Pennsylvania Turnpike.
April 19, 2012 |
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.
August 25, 2004 |
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.
October 25, 2011 |
Alphabuyer Inc., a year-old Paoli e-commerce company that enlists customers for "group buying for your bills," probably could have picked something a little sexier to start with than the humble electric bill. But since launching last year with discount offers for Peco Energy Co. electricity customers, the group-buying service has expanded into three other states including New Jersey, and other commodities like natural gas. Cofounder Kevin Johnson imagines that eventually every savvy, penny-pinching customer would go through Alphabuyer to join groups to buy anything from discounted Internet and cellphone service to gasoline, heating oil or antivirus software subscriptions.
April 26, 2012 |
Harleysville Group Inc. shareholders voted to accept $60 a share to sell the company to Nationwide Mutual Insurance Co., chief executive Michael L. Browne said in a statement Wednesday. That price is a lot fatter than the stock's previous high, in the mid-$30s. Half a dozen policyholders, who sued to change the terms, say some cash should go to the company's nominal owners, policyholders of affiliated Harleysville Mutual Insurance Co., as happened in previous mutual sales like Nationwide's purchase of the former Provident Mutual Life Insurance Co., Berwyn, 10 years ago (also after a court fight)