November 16, 2006 |
Aramark Corp. said yesterday that its net income fell 18.8 percent in what may be the Philadelphia company's last quarter as a public company. Weaker results at baseball stadiums and national parks where Aramark provides food and other services helped cut earnings to $74.36 million, or 40 cents a share, in its fourth quarter ended Sept. 29 from $91.55 million, or 49 cents a share, in the same period a year earlier. Other factors in the decline included costs related to the shutdown of an apparel business, expensing employee stock options, and $5.7 million in expenses from the proposed sale of the company to an investment group led by chairman and chief executive officer Joseph Neubauer.
June 21, 2006 |
Investors in Philadelphia Media Holdings L.L.C. met for the first time yesterday and toured the Broad Street offices of The Inquirer, Philadelphia Daily News, and philly.com, which they plan to acquire after the scheduled June 27 sale of the newspapers' current owner, Knight Ridder Inc., to The McClatchy Co. The new owners, mostly Philadelphia-area businesspeople, have already put their expertise to work for the newspapers. For example, commercial-insurance broker William A. Graham has arranged insurance coverage for the newspapers for after the sale.
December 12, 2001 |
Aramark Corp., the Philadelphia-based purveyor of work clothes, day care and stadium food, rejoined the New York Stock Exchange yesterday after a 17-year absence. Aramark's high-rise Market Street headquarters, topped by its "star-man" logo, is a familiar fixture on the Center City skyline. But its corporate staff totals only 115, and most of the company's 200,000 employees labor elsewhere - in more than 600 Children's World day-care centers, 350 college cafeterias, 165 public-arena food concessions, 200 laundry plants and depots, and clothing factories in low-wage Puerto Rico and Mexico, among other sites.
July 26, 1994 |
It's bigger than ballpark hot dogs, bigger than college cafeterias, bigger even than feeding 10,000 Olympic athletes: ARA Services wants to be the world's full-line service company. With a name change to Aramark, a new logo and an international advertising campaign - all to hit in October - the Philadelphia firm will sell itself around the world as a one-stop source for uniform rental, housekeeping services, child care, magazine and newspaper distribution, even emergency-room staffing for hospitals.
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.
September 23, 2004 |
Aramark Corp. chief executive officer William Leonard abruptly resigned his posts yesterday and was replaced with the company's largest shareholder and former CEO, Joseph Neubauer. It was a stunning change of course for Aramark, the Philadelphia food-service and outsourcing giant with more than 200,000 employees, who run boilers in hospitals, cook hot dogs at professional sport stadiums, stock vending machines with salty snacks and sodas, and do many other things. The company, which had revenue of about $9.5 billion in 2003, endured a sharp drop in its stock price over the summer.
December 21, 2006 |
Aramark Corp., the largest U.S.-based food-service company, will be taken private after shareholders overwhelmingly approved a $6.3 billion buyout bid yesterday. It marked the second time that a group of investors led by chairman and chief executive officer Joseph Neubauer moved to take Aramark off the stock market. The first time, in 1984, was to thwart a "hostile takeover attempt that could have been the end of the company," Neubauer said at a meeting of shareholders at the Center City Marriott Hotel yesterday.
April 22, 2010 |
Early Wednesday, the former Holmes Lounge & Garden was a drab wood-frame and stucco building on North 27th Street in East Camden. Its mirrored bar and covered patio - where customers including Patti LaBelle, Allen Iverson, and Boyz II Men once enjoyed smooth jazz and hard crabs - were idle. That changed with the arrival of more than 100 volunteers from corporate and nonprofit groups who gave the former popular restaurant a makeover - and a new purpose. Whirring saws, hammers, and fresh paint quickly helped to transform the building into an early child-care and education center.
May 2, 2006 |
Aramark Corp.'s shares soared yesterday after the Philadelphia food-service company received a $5.8 billion cash buyout offer led by chairman and chief executive officer Joseph Neubauer. Neubauer and a group of private-equity firms offered $32.00 a share, a 14 percent premium over Friday's close of $28.11. Aramark's publicly traded class B shares zoomed past the offer price to close yesterday at $33.90 a share - a 20.6 percent, or $5.79, gain from Friday. "The offer seems a bit low to us," Morgan Stanley analyst Christopher P. Gutek said in a note to investors.
May 1, 1986 |
The board of directors of the Philadelphia Orchestra Association, once the bastion of the bluest of the region's blue bloods, is a different animal these days. Gone are many of the representatives of traditional orchestra families. In their places are men and women with the kind of corporate connections that once might have produced a shudder within Philadelphia's established upper crust. Just this year, developer Ronald I. Rubin; Harvey Lamm, chairman of Subaru of America Inc.; George Ross of Goldman Sachs & Co., and Edward A. Montgomery of Mellon Bank were voted on to the board.