June 30, 2011 |
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.
July 4, 2011 |
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)
March 16, 2013 |
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)
July 25, 2012 |
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.
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.
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.
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.