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.
May 18, 2011 |
Breakup fees have been on my mind lately, and I'm not referring to what it may cost the Governator to end his marriage to Maria Shriver . Breakup fees, which in legalese are termination fees, are a part of many corporate acquisitions. They're the price for walking away from a deal. You can see why buyers and sellers want them. Who wants to spend all that time evaluating and negotiating a deal if the buyer can't close it or the seller opts for a better offer from someone else?
March 29, 2011 |
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.
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.
May 24, 2010 |
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.
December 10, 2007 |
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.
April 11, 2013 |
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.
April 12, 2013 |
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.
November 29, 2012 |
Raghunandan Yandamuri said he never intended to kill or harm anyone. The Montgomery County man told detectives that he simply wanted to kidnap 10-month-old Saanvi Venna for ransom. What happened next, he said, was "unexpected. " First Assistant District Attorney Kevin Steele, however, said Yandamuri acted quite deliberately. Motivated by gambling debts, he was carrying a four-inch kitchen knife to kill the child's grandmother and a note that demanded $50,000 and threatened to have the baby "cut into pieces.