August 5, 2012 |
EAST RUTHERFORD, N.J. - Blue Bell resident Richard Gutnick cornered the market on Saturday at the Meadowlands Racetrack, owning both $1.5 million Hambletonian winner Market Share and world record-tying Chapter Seven, who scored in the Nat Ray. Gutnick, trainer Linda Toscano, and driver Tim Tetrick all won their first Hambletonians after Market Share finished the race in 1 minute, 52.1 seconds in the 87th edition of harness racing's most prestigious event....
July 16, 2012 |
For a Penn Stater who took a knee on the Old Main steps more than a decade ago to propose marriage, and who has convinced his three children — Penn State "purebreds" — that the school is the greatest on Earth, the release of the Freeh report on the Sandusky sex-abuse scandal was fraught with anticipation. As university president Rodney Erickson and the Board of Trustees digest the report, they would do well to consider one of the great responses to crisis in modern history: Johnson & Johnson's 1982 recall of Tylenol.
April 8, 2012 |
Independence Blue Cross, the biggest health insurer in the Philadelphia region, added 45,020 members last year, the first growth since 2008 for the Center City nonprofit, which serves nearly 3.1 million people. IBC has yet to release comprehensive financial results for 2011, but president and chief executive Daniel J. Hilferty said the company continued its recovery from losses in 2008 and 2009 and expected to report an improvement over 2010, when it had a profit margin of 2.2 percent.
March 18, 2012 |
Talk about comebacks, remarkable recoveries, and rising from the ashes. Less than two years ago, Chrysler and General Motors were filing for bankruptcy, and heavily indebted Ford wasn't that much less moribund. Today, the near-death experiences, the layoffs, the plant closings, the diminishing market share, the pools of red ink the size of the Red Sea, are all fading memories. While it's premature to suggest that the Big Three will all live happily ever after, it sure looks that way at the moment.
October 13, 2011 |
ATLANTIC CITY, N.J. - As the mother of a famous college basketball player, Liza Cartmell traveled the country going to ever-bigger games as the NCAA championship drew near. In those towns, when a Sweet 16, an Elite 8 or a Final Four game was being played, "It felt like every night was New Year's Eve," said Cartmell, whose son, Brian Zoubek, was a member of Duke's 2010 championship team. "We need to create that atmosphere here," said Cartmell, who will try to do just that in her new role as Atlantic City's booster-in-chief.
August 24, 2011 |
CHARLESTON, S.C. - The College of Charleston's basketball court will be renamed TD Arena under a licensing agreement with TD Bank. The building had been Carolina First Arena. However, Carolina First was purchased by TD Bank last year. TD Bank will pay the school $600,000 for the naming rights through June 30, 2018. The College of Charleston had previously received $412,500 from Carolina First for naming rights. College president P. George Benson says the school is proud to have the sponsorship from the respected bank.
August 17, 2011 |
NEW YORK - Consumers might not be confident, but the stores that sell to them certainly seem to be. Wal-Mart and Home Depot, two of the nation's largest retailers and bellwethers of the U.S. economy, on Tuesday joined a string of other merchants that have raised their outlooks for the year despite a flow of bad economic news that suggests they have no reason to be optimistic. TJX Cos., which owns TJ Maxx and Marshall's; Macy's Inc.; Kohl's Corp.; and Nordstrom Inc. have all boosted their profit outlooks in the last week.
July 31, 2011 |
Since the real estate bubble burst more than five years ago, the FHA mortgage has become a major source of home-purchase financing. As I've reported here several times, the annual share of mortgages insured by the government under the Federal Housing Administration has increased from about 3 percent during the boom years of 2005 and 2006, to 20.76 percent in 2009, to about 30 percent today. With stricter underwriting requirements and higher loan premiums, FHA's market share showed some signs of declining earlier this year, but many experts believe that it will remain about 30 percent, if not a bit more.
July 19, 2011 |
NEW YORK - Wells Fargo & Co. on Tuesday said that its second-quarter profit rose 30 percent, as the number of uncollected loans and credit card bills dropped sharply, enabling the bank to release a big chunk of the money set aside to cover bad lending. Its shares rose more than 2 percent in premarket trading. The San Francisco bank said net income for the three months ended June 30 rose to $3.73 billion, or 70 cents per share, compared with $2.88 billion, or 55 cents per share, in the year-ago quarter.
May 24, 2011
As part of a push to hire 1,000 small-business bankers across the nation, Bank of America said today that it had hired 11 lenders in Southeastern Pennsylvania and six in South Jersey, based at branches in Camden, Burlington, Ocean, and Atlantic Counties. Last June, Bank of America had 102 branches with $7.7 billion in deposits, for a 6 percent market share, in the eight-county Philadelphia area. -Harold Brubaker