February 7, 2013 |
The planned sale of computer company Dell Inc. to founder Michael Dell , buyout firm Silver Lake Partners , Microsoft, and other financiers marks the end of a couple of familiar periods at the busy junction of dollars and data. The sale price, $24.4 billion, sounds like a lot; at $13 and change a share, it's a premium for a stock that's been slipping down toward single digits. But it's less than a quarter of the $100 billion-plus (up to $58 a share) that Dell was worth in the late 1990s and mid-2000s, back when its personal computers and laptops were flying from factories and bets on Dell's prospects were the hottest contracts, drawing put and call orders for the jostling bright-jacketed traders on the basement floor of the Philadelphia Stock Exchange , which held the Dell monopoly by grace of the national stock-options cartel.
May 25, 2012 |
There is nothing in the deep backgrounds of either Joseph Neubauer or Aileen Roberts that quite augurs the passion, imagination, and sheer stubbornness required to move an embedded cultural monument and build it anew. Yet that is exactly what Neubauer and Roberts have helped achieve, and on Thursday they will receive the coveted Philadelphia Award, the civic honor established in 1921 by Ladies' Home Journal editor Edward W. Bok, in recognition of their efforts. The award, given for their central roles in bringing the Barnes Foundation from Merion to Philadelphia and finding the financial wherewithal and architectural panache to pull it off, will be presented, appropriately enough, at the foundation's just-opened building on the Benjamin Franklin Parkway.
May 11, 2012 |
IN THE REGION Insider trading charged The U.S. Attorney in Philadelphia charged Timothy McGee, of Philadelphia, with insider trading, saying that McGee learned of the pending acquisition of Bala Cynwyd insurer Philadelphia Consolidated Holding Corp. by Tokio Marine from a Philadelphia Consolidated executive McGee knew through Alcoholics Anonymous. The two-count indictment of McGee, 48, alleges that he made $292,000 from illegal trades. The indictment also alleges that McGee tipped a friend to the pending sale of Philadelphia Consolidated.
May 10, 2012 |
Joseph Neubauer, best known as benefactor to some of the region's top cultural organizations, stepped down Tuesday as chief executive of Aramark Corp. after 29 years as its leader. Aramark, one of Philadelphia's largest companies, with a global workforce of 250,000, has hired Eric J. Foss, 53, a former PepsiCo Inc. executive, to succeed Neubauer as president and chief executive. The move marks the end of an era for the food-services and facilities-management company, which has known just five chief executives since 1936.
May 9, 2012 |
Aramark Corp., one of Philadelphia's largest companies, has hired a former PepsiCo executive to succeed longtime chief executive Joseph Neubauer. Eric J. Foss joined the privately held food-services and facilities-management giant as its new president and CEO Tuesday. Foss, 53, retired as CEO of Pepsi Beverages Co., a $20 billion division of the soft-drink maker, on Dec. 9. That makes the CEO succession at Aramark something of Pepsi generation phenomenon. The 70-year-old Neubauer had held several senior positions at PepsiCo in the 1970s, including the head of its Wilson Sports Goods division before joining what was then called ARA Services at its chief financial officer in 1979.
April 11, 2012 |
Shortly before 8 on Tuesday, with the long morning sunlight coming in low over the city, Ellsworth Kelly's The Barnes Totem finally settled into its permanent home outside the new gallery of the Barnes Foundation on the Parkway. The slanting sunlight caught the bead-blasted steel surface of the 40-foot sculpture, brightening its matted gray and propelling geometric shadows onto the limestone panels of the new Barnes building nearby. Gusty wind Monday had delayed the installation a day - no one, and certainly not the 88-year-old artist, wanted an eight-ton artwork swirling uncontrollably high above 20th and Callowhill Streets.
April 10, 2012 |
The artist Ellsworth Kelly was there. Joseph Neubauer, the Barnes Foundation vice chairman and donor extraordinaire, was also there. So were dozens of skilled movers, installers, crane operators, and art handlers. A swarm of project managers and members of the Kelly entourage talked and looked on in the shadow of a giant yellow crane angling from the parking lot of the Barnes' new gallery on the Parkway. They had all turned out Monday morning, waiting, as the artist put it, to "bring something back to Philadelphia" - a monumental sculpture by Kelly, his 40-foot-high, eight-ton, stainless steel The Barnes Totem . The Neubauer Family Foundation made the acquisition possible for the Barnes and, as Joseph Neubauer said, for "everyone in the city passing by. " It is the first public work installed here by Kelly, 88 and an undisputed master of American art, since his massive Transportation Building Lobby Sculpture was quietly removed from the old Greyhound office building on Market Street and sold in 1996.
February 29, 2012 |
Following in the footsteps of Leopold Stokowski, Marian Anderson, Louis I. Kahn, and Richardson Dilworth, two members of the Barnes Foundation board have been named recipients of the Philadelphia Award. Aileen Roberts and Joseph Neubauer will share the coveted civic prize, established in 1921 by Ladies' Home Journal editor Edward W. Bok, for their active roles in moving the Barnes to Center City. Neubauer, as much as he shuns attention, admitted yesterday to a bout of pride.