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BUSINESS
July 4, 2011 | By Mike Armstrong, Inquirer Columnist
Companies may feel like waving a flag this Fourth of July, but after what was a volatile second quarter, it might not be Old Glory. High oil prices, fears of a possible debt default by Greece, and the effects of Japan's triple disaster on the global supply chain all contributed to the gyrations in the stock market and thus the value of public companies. The Inquirer/Bloomberg Philadelphia Index rose 2.81 percent between March 31 and June 30, outperforming the Dow Jones industrial average (up 0.77 percent)
BUSINESS
June 30, 2011 | By Candice Choi, Associated Press
NEW YORK - The nation's biggest companies are spending more money on stock repurchases to keep investors happy. Standard & Poor's Corp. said Wednesday stock buybacks in the first quarter rose by 63 percent to $89.8 billion. That's up from $55.3 billion in the year-ago period. In the Philadelphia area, Airgas Inc., GlaxoSmithKline P.L.C., Innovative Solutions & Support Inc., GSI Commerce Inc., and ViroPharma Inc. were among the companies that announced buybacks in the first quarter.
BUSINESS
March 16, 2013 | By Mike Armstrong, Inquirer Columnist
Old news: Companies have very few women on their boards of directors. Welcome news: Nutrisystem Inc. , of Fort Washington, and Pep Boys - Manny, Moe & Jack , of Philadelphia, both just added a woman to their male- dominated boards. Unusual twist: It's the same woman. Andrea M. Weiss was appointed to Nutrisystem's board on March 4. Eight days later, Pep Boys added Weiss, 57, to its board. For the last decade, Weiss has been president and CEO of an Orlando-based boutique consulting practice called Retail Consulting Inc. Her resumé includes stops at retailers such as Ann Taylor , delia's , Guess , Intimate Brands , and The Limited . So it would seem self-evident why consumer-oriented companies like Nutrisystem (selling meal plans)
NEWS
May 2, 2015 | By Bonnie L. Cook, Inquirer Staff Writer
Lawrence S. Smith, 67, of Worcester Township and Jupiter, Fla., an executive who helped build Comcast Corp. from a small regional company into an industry leader in cable television, died Tuesday, April 28, at the Hospital of the University of Pennsylvania of complications from aplastic anemia. "Larry was unique and a role model for everyone on how to enjoy all that life offers," said Brian Roberts, the company's chairman and CEO. "His time on Earth seems way too short, and we are so saddened today.
BUSINESS
July 25, 2012 | By Joseph N. DiStefano, Inquirer Staff Writer
What if solvent Germany stops bailing out Europe and goes back to its own, stronger money? That would make German products cost more. But privately owned German industrial-sensor and controls maker IFM Electronic GmbH won't have that problem. The company dedicated its new factory and labs in Malvern on Monday, and is adding more abroad. "We make eight million sensors a year," said Roger Varma , head of the $700 million (in yearly sales) company's IFM Prover USA Inc.me off the line at IFM's factory in Tettnang, Germany.
BUSINESS
December 31, 2012
Simon's Fund, a Plymouth Meeting nonprofit group that works to protect children from sudden cardiac arrest through free heart screenings, research, and legislative advocacy, has named the following officers to its board of trustees: Mark Koenig, a sales executive in the cardiac-rhythm management division of Boston Scientific, is chair. Kenneth Fair, a partner at Naulty, Scaricamazza & McDevitt, is vice chair and secretary. Named to the executive committee are: Mitchell Bednoff, a partner in Sage Financial Group.
BUSINESS
May 23, 2013 | By Mike Armstrong, Inquirer Columnist
Poptent , the video-production outfit with a major office in Conshohocken that uses crowdsourcing to produce content, has named a new CEO. Nick Pahade will succeed Rick Parkhill , the California investor who founded Poptent in 2007 to match independent filmmakers with Fortune 100 companies and ad agencies to generate content at about one-seventh the cost of traditional production. Starting June 3, Pahade, who lives in the Princeton area, will be based out of the Conshohocken headquarters, where about 30 of Poptent's 55 employees work.
BUSINESS
March 29, 2011 | By Francesca Levy and David K. Randall, Associated Press
NEW YORK - Stocks closed with slight losses Monday after falling in the last half-hour of trading. Major indexes had been up for most of the day after several economic reports suggested that the recovery is continuing. The Dow Jones industrial average fell 22.71 points, or 0.2 percent, to 12,197.88. The broader S&P 500 index lost 3.61, or 0.3 percent, to 1,310.19. The Nasdaq composite fell 12.38, or 0.5 percent, to 2,730.68. Each index had been up more than 0.4 percent earlier in the day. The Commerce Department said consumer spending rose at its fastest pace in four months in February, though some of the increase was driven by higher gas prices.
BUSINESS
September 6, 2010
Securities trades recently reported to the Securities and Exchange Commission by officers, directors, and principal shareholders of corporations based or having sizable employment in the Philadelphia area. Titles are as reported to the SEC. Abington Bancorp Inc. Jane Margraff Kieser , director, sold 5,000 shares at $9.87 Aug. 24 and now directly holds 98,295 shares. Ametek Inc. James R. Malone , director, sold 2,500 shares at $44.23 Sept. 1 and now directly holds 51,305 shares.
BUSINESS
May 24, 2010 | By Mike Armstrong, Inquirer Columnist
Royal Bancshares of Pennsylvania Inc. , which has lost money for seven straight quarters, is getting some board help. The Narberth-based bank holding company last week added Michael J. Piracci , who retired from the Federal Deposit Insurance Corp. in 2004, and Jay H. Shah , chief executive officer of Hersha Hospitality Trust , which owns interests in 76 hotels and operates from offices in Philadelphia. Bringing Piracci onto the board is probably a good move for Royal, which has been hurt by losses on its loans and investments.
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