January 25, 2013
In the Region Philadelphia lawyers stay put Drinker Biddle & Reath L.L.P. said it agreed to extend its lease at One Logan Square through 2029. As part of the agreement, the law firm will reduce the size of its offices from 206,000 square feet to 155,000 square feet. The firm anticipates that the number of employees there will remain about the same. It has 456 employees at One Logan, including 205 lawyers. - Chris Mondics Deal to ship ethane via Marcus Hook A European petrochemical producer entered into a 15-year agreement to ship Marcellus Shale ethane to Norway from a Sunoco Logistics terminal in Marcus Hook.
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)
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.
November 30, 2010 |
From her headquarters office at online retail operator GSI Commerce Inc. , Fiona Dias can see the paved parking that makes possible the King of Prussia shopping complex. "The mall was packed Black Friday," said Dias, "but I didn't see tons of shopping bags. " The National Retail Federation , in a survey of 4,300 Americans, said the number of people shopping online has grown by a third so far this Christmas-shopping season compared with last year. Actual online sales were up a more modest 9 percent, estimated analyst Marianne R. Wolk , who covers Amazon.
April 5, 2011 |
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.
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.
March 29, 2011 |
I received some interesting reactions from readers to Friday's column about the legacy of two pioneers of the region's biotechnology sector. I'd wondered aloud who might follow in the footsteps of Frank Baldino Jr. , the founder of Cephalon Inc. who died in December, and Hubert J.P. Schoemaker , the founder of Centocor Inc. who died in 2006. Both built large enterprises that continue to employ hundreds locally. In a comment posted online, Pennsylvania Bio president Christopher P. Molineaux listed seven local life-sciences entrepreneurs whom he suggested were walking that same path, including Steven Nichtberger , CEO of East Norriton-based Tengion Inc. , and Maxine Gowen , founder and CEO of King of Prussia-based Trevena Inc. In e-mails, readers in the biotech business mentioned how difficult it is to get from the point of drug discovery to putting actual product in consumers' hands.
November 15, 2012 |
It is a problem so obvious you wonder why it hasn't already been solved: how to deliver online orders in a way that cuts the odds of missing a delivery or having a package stolen after drop-off to an apartment lobby, stoop, or an unsecured porch. One way Americans have worked around this, as their love affair with online shopping has grown in recent years, is to have deliveries sent to the office, which requires discretion and an indulgent boss. Or they suck up the status quo, unglue missed-delivery slips from the front door, and hope that, the next time, the truck comes when someone is home.
October 19, 2011 |
YOU WON'T believe this, Occupy Philly: A bunch of rich guys bought the 76ers! Oh well. Get over it. Go to a game once in a while, will ya? Here are the investors, who include four Philadelphia-area natives and two Indonesians. Six of them are graduates of the University of Pennsylvania, where they presumably took an advanced course in rejuvenating ailing NBA teams: Joshua Harris: Billionaire lead investor who will serve as the 76ers' managing owner and governor on the NBA Board of Governors.