April 9, 2016 |
Aramark has decided to keep its global headquarters in Philadelphia, ending speculation that the food- and facilities-services giant may decamp to another city with its jobs and prestige. The company is not yet sure whether it will remain at its namesake headquarters tower at 1101 Market St. or move to another building, but it has concluded that Philadelphia's business costs, talent supply, transportation links, and other advantages will keep it in town, communications chief Tod MacKenzie said in an interview ahead of Thursday's announcement.
December 5, 2014 |
On the heels of the announcement that Joseph Neubauer will step down as chairman of Aramark Corp. in February, the Philadelphia company said Wednesday that existing shareholders intended to sell 22.5 million shares. The sellers are private equity firms that took Aramark private in 2007 and public again - for the third time in its history - one year ago, and still own 60 percent of the $15 billion food-services giant. The Securities and Exchange Commission filing did not say if Neubauer, who joined Aramark in 1979 and became chief executive in 1983, would sell any of his shares.
December 4, 2014 |
When he came to America, alone, on a ship, as a boy of 14, Joseph Neubauer knew only the English he'd learned from watching John Wayne movies. He could say "Yep" and "Pardner" and "Yes, ma'am. " His American aunt and uncle gave him a job in their garden shop, where this son of Israel earned his keep selling lawn ornaments of the Virgin Mary. From that beginning, Neubauer rose to shape and run Aramark, the $15 billion, worldwide hospitality company based in Philadelphia. And on Tuesday evening, in a quiet announcement made after the stock market closed, he called it a career, saying he would step down after 30 years as chairman with plans to devote more time to the philanthropy that has improved cities, colleges, and lives from Philadelphia to Chicago.
December 14, 2013 |
NEW YORK - When Eric J. Foss, Aramark's chief executive, huddled for about 20 minutes Thursday morning with traders on the floor of the New York Stock Exchange waiting for the first trade of the Philadelphia company's new shares, that may well have been the longest break he's had in the last week and a half. Foss and other Aramark executives have been to nine cities in the last eight days, meeting with more than 200 institutional investors to drum up interest in Aramark, which was going public for the third time.
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.