October 21, 2010 |
HERSHEY, Pa. - The Hershey Co.'s third-quarter net income rose 9 percent, helped by strong sales of candy, mints and gum, and it raised its earnings outlook. The maker of Reese's peanut butter cups and Twizzlers said its net income for the three months ended Oct. 3 totaled $182.9 million, or 79 cents per share. That's up from $168.5 million, or 73 cents per share. Revenue rose 4 percent to $1.55 billion, from $1.48 billion last year. Analysts polled by Thomson Reuters predicted net income of 79 cents per share on revenue of $1.56 billion.
October 1, 2010
Cherry Hill-based Subaru of America Inc. today said its September sales of 21,432 vehicles represents a 47 percent increase over September 2009. The results reflect a near doubling of sales of the Subaru Outback sport utility wagon. Year-to-date sales of 193,614 units, compared to 158,421 units sold by this time in 2009, represents a 22-percent gain, the company said. Subaru has about 2 percent of the U.S. market share. Subaru of America is a wholly owned subsidiary of Fuji Heavy Industries Ltd. of Japan.
September 16, 2010
I feel compelled to set the record straight regarding your article on Citadel Federal Credit Union, which also mentioned our institution ("Credit unions growing far faster than banks in region," Sunday). Admittedly, credit unions' market share has indeed surged. However, their success is not due necessarily to their friendlier service, but instead is enabled by their ability to operate without the burden of taxation (at the federal or state level). In other words, the government (you and I)
September 5, 2010
Andres Oppenheimer is a Latin America correspondent for the Miami Herald Here's something that should be sounding alarm bells in Washington: Latin American countries - which have long been big buyers of U.S. goods - are increasingly making a larger chunk of their purchases from other parts of the world. While U.S. exports to the region are growing, their percentage of Latin America's imports is shrinking. To put it in economists' jargon, U.S. exports are losing market share in Latin America.
July 22, 2010 |
PITTSBURGH - Regional bank PNC Financial Services Group Inc. said today that its second-quarter net income rose twelvefold on higher revenue, lower expenses and better credit quality. Net income jumped to $786 million, or $1.47 a share, during the quarter, from $65 million, or 14 cents per share, in the year-ago period. Excluding certain integration costs, net income was $1.60 a share. On average, analysts polled by Thomson Reuters expected net income of $1.28 per share. PNC has a 10.1 percent market share in the eight-county Philadelphia area, with $12.86 billion in deposits and 147 branches, based on deposits as of June 2009, the latest date available.
March 9, 2010 |
Experience has shown that large, powerful chain stores are bad for local communities, where they force mom-and-pop shops out of business. The latest misguided push to undo Pennsylvania's beer laws could expose the malt-beverage business to similar harmful forces. Each beer distributorship in Pennsylvania is individually owned and allowed to operate out of only one location, so there's no opportunity to monopolize malt-beverage sales. But the grocery and convenience stores that are seeking to act as distributors are not subject to the same limitations, which raises the prospect of unfair competition.
March 3, 2010 |
It was Las Vegas, Valentine's week, and the headliners were big: Former President George W. Bush kicked things off as keynote speaker. Singer Paul Anka serenaded a black-tie crowd with old classics such as "Put Your Head on My Shoulder. " But the big buzz at the National Grocers Association convention was about a purveyor of sliced bologna and mouthwash: Acme Markets. Supervalu Inc., the Minnesota corporation that owns the Philadelphia area's most ubiquitous grocery chain, had said just that week that it would sell a batch of Connecticut supermarkets.
June 25, 2009 |
The bloodbath in Detroit hasn't trickled over to Subaru of America Inc., with headquarters in Cherry Hill, which posted a slight increase in car sales for 2008 and gained its highest market share ever. Sales for 2009 are down only 2 percent, according to its latest year-to-date figures. Partly, that is a lucky function of being a small, niche automaker without a Big Three industrial base to sustain after car sales dropped off a cliff. Partly, it is a virtue of having seen the handwriting on the wall before the cliff dive.
May 28, 2009 |
Investors have poured $500 million into a new mortgage-insurance company, Essent Guaranty Inc., that is based in Radnor and headed by a local financial executive, the company announced today. Essent, backed by Wall Street investment firms and reinsurance companies, is being launched at a time of turmoil and uncertainty in the mortgage-insurance industry, which is reeling from billions in losses and dogged by doubts about its future. Essent's president and chief executive officer, Mark A. Casale, a former top executive with Philadelphia mortgage-insurance competitor Radian Group Inc., cast those doubts aside in an interview.
March 5, 2009 |
General Motors was founded in 1908 in Flint, Mich., and grew to be the largest corporation in the world. In 1953, at the peak of GM's dominance, company president Charles Wilson declared before Congress that what was good for the country was good for GM, and vice versa. The story of General Motors is the story of America. Its rise to power and decline toward insolvency parallel the rise and fall of the great American republic. For the past few decades, hubris, lack of courage, foolish decisions made, and crucial decisions deferred have been hallmarks of both.