March 6, 2009 |
On a day when more than 11 million Americans were out of work, I found a job. Considering the economy, it was a crowning achievement. But, sadly, it meant leaving my longtime profession, newspaper journalism. Still, I was ready - and so was it. What had once been a worthy and satisfying business was in eclipse. My departure meant a slight but welcome improvement to a woeful bottom line. I did not work for the paper you are now reading, but it and all papers are facing similar fiscal trials.
February 28, 2008 |
Comcast Corp. admitted yesterday that it paid people to attend a government hearing. Company critics say the freelance attendees were there to crowd them out; Comcast says they were merely saving seats for employees. The five-hour hearing Monday at Harvard University was organized by the Federal Communications Commission to address the issue of net neutrality, a hot-button topic for those who think there should be minimal restrictions on Internet traffic. The topic has drawn wide interest from college students, media-reform groups, and Internet companies.
August 6, 2006 |
As the Chinese government braced two years ago for the 15th anniversary of the Tiananmen Square massacre, it sent instructions to state-controlled newspapers on how to handle coverage. One of the journalists who got the memo was Shi Tao, a reporter for the daily Contemporary Business Review in Hunan province. The memo warned that Tiananmen anniversary observances could destabilize Chinese society. Shi, using his Yahoo! account, e-mailed it to a pro-democracy Web site. A short time later, Shi, 38, was arrested and sentenced to 10 years in prison for revealing state secrets.
March 11, 2003 |
Yesterday was the third anniversary of the Nasdaq composite index's all-time high of 5,048.62, the peak of the infamous tech bubble. Since tech stocks began their free fall, scores of once-high-flying dot-coms have vanished. The Nasdaq composite closed yesterday at 1,278.37, down 74.6 percent from three years ago. But with eBay Inc. trading in the high $70s, and shares of Yahoo Inc. and Amazon.com Inc. doubling over the last year, is the Internet sector recovering? A more important question: Are Internet stocks sensible investments now?
January 22, 2002 |
Joseph T. Sebastianelli has done it all. He has been a lawyer, a health insurance executive, a hospital administrator and an Internet expert. Now, Sebastianelli, who spent 26 of the last 30 years in health care and insurance in the Philadelphia area, is returning to become the new president and chief executive officer of the Jefferson Health System, the Philadelphia region's largest hospital network. The Jefferson Health System board is scheduled to announce today that Sebastianelli, 55, will succeed Douglas S. Peters, who said in October he would step down as head of the Jefferson system July 1, after 5 1/2 years on the job. Sebastianelli is chairman and chief executive officer of RealMed Corp.
June 21, 2001 |
Internet Capital Group Inc., the Wayne company that invests in e-commerce start-ups, said yesterday that two Hong Kong investors offered to pay $100 million in cash for ICG's stake in its Asia subsidiary. ICG had purchased 53 percent of ICG Asia Ltd. for $116.8 million last year. ICG Asia manages business-to-business exchanges in Asia. The sale of its interest in ICG Asia is another move by the company - once worth more than General Motors Corp. - to pare operations and conserve funds in a market climate that no longer favors Internet companies.
April 13, 2001 |
Personal sympathy for Warren V. "Pete" Musser abounded yesterday, but investor and corporate reaction to his ouster as chief executive officer of Safeguard Scientifics Inc. was muted. Musser, who founded what became Safeguard in 1953, resigned under pressure as the Wayne-based holding company struggles to rebound from the market collapse of its Internet investments and its own stock price. "I'm sorry that it happened to him," said Ralph Roberts, chairman of Comcast Corp., who bought his first cable system from Musser.
March 29, 2001 |
Infonautics Inc., one of the first Internet companies in the Philadelphia area, has agreed to be acquired by Tucows Inc., a Toronto firm that sells domain names and distributes software online. The fate of troubled Infonautics' 40 remaining employees and its King of Prussia office remains to be determined, officials of both companies said yesterday. There was no doubt, however, that the deal would mark the end of the Infonautics name, though the company's 80,000-subscriber Electric Library online-research service and its Internet-trolling Sleuth Web sites will survive, at least for the time being.
January 3, 2001 |
Two formerly high-flying Internet companies in the area are downsizing dramatically, and one of them is moving out of the region completely. 4Anything Network, an online search company in Wayne, said it would hand out pink slips today to 40 of its 54 employees - 74 percent of its workforce. Meanwhile, U.S. Interactive Inc., an Internet-services consulting firm, confirmed yesterday that it would be closing its King of Prussia headquarters by March 23 and laying off the remaining 43 workers there.
August 31, 2000 |
Since its New York Stock Exchange debut on Aug. 5, Internet Capital Group shares have tripled in price, to around $60, and market value, to $7 billion, triple the worth of its corporate godparent and largest shareholder, Safeguard Scientifics. Internet Capital, of Wayne, jumped $5.375 to $58.875 yesterday when Merrill Lynch analyst Henry Blodget estimated that the company's stock would more than double, to $125, by 2001. Merrill Lynch managed the stock sale, so you wouldn't expect its analysts to trash it. Blodget's report is a giddy list of openly rosy assumptions studded with warning lights.