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October 19, 2011 | BY WILLIAM BENDER, benderw@phillynews.com
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.
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
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
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.
BUSINESS
December 10, 2007 | By Joseph N. DiStefano, Inquirer Staff Writer
What makes a company valuable? In the stock markets, where software writers, oil refiners, toy-makers and bomb builders compete for the same investor dollars, it doesn't matter what you make, or even how much you sell; it's how much profit investors expect you're going to keep that determines share prices. Thirteen Philadelphia-area companies rank on the Standard & Poor's list of 500 big publicly traded corporations. The most valuable is Comcast Corp. , the Philadelphia-based cable TV, Internet and phone company, which earned $2.5 billion on gross sales of $25 billion last year, and was worth $64 billion - based on the price Wall Street assigns to its shares - on the Nasdaq Stock Market at the start of November.
BUSINESS
April 11, 2013 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
iPipeline, an insurance-software maker based in Exton, is the latest suburban tech firm to add a Center City office in hopes of luring young engineers, programmers and information technology salespeople. The firm, which employs 390 in the Philadelphia area and its U.S. and foreign offices, and hopes to add 50 more this year, has leased a suite on the 33rd floor at 1818 Market St., a 40-story building soon to be known as Beneficial Place, the new headquarters for the city's largest remaining bank.
BUSINESS
April 12, 2013 | By Joseph N. DiStefano, Inquirer Staff Writer
iPipeline, an insurance-software maker based in Exton, is the latest suburban tech firm to add a Center City office in hopes of luring young engineers, programmers, and information-technology salespeople. The firm, which employs 390 in the Philadelphia area and its U.S. and foreign offices, and hopes to add 50 more this year, has leased a suite on the 33d floor at 1818 Market St., a 40-story building soon to be known as Beneficial Place, the new headquarters for the city's largest remaining bank.
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