September 11, 2012
Siobhan A. Reardon , president of the Free Library of Philadelphia, was named chair of Lyrasis , a regional nonprofit membership organization serving libraries. Michelle Portnoff , founder of Portnoff Law Associates Ltd., Norristown, was elected to the board of governors of Gratz College in Melrose Park. Blank Rome L.L.P. associate Eric G. Fikry was elected secretary of the Camden County Bar Association. The Alumni Association at La Salle University , a nonprofit educational institution, elected the following board members: Alexis R. Abate , marketing coordinator at the Eye Institute of the Pennsylvania College of Optometry at Salus University.
August 24, 2012 |
Cabela's Inc. , the fast-growing gun, rod, and outdoor-gear seller, plans its first Philadelphia-area store next to Christiana Mall off I-95. Nebraska-based Cabela's, which started as a catalog supplier, is best known for building log-stone-and-glass, tourist-attraction-like temples to country consumerism in hunting and fishing zones: There are two Cabela's each in West Virginia and Idaho, none in New Jersey. Christiana is highly suburban - but it's also in Delaware, one of the few states without a sales tax, and it's an easy drive from the Philadelphia area and Maryland, where many Cabela's catalog shoppers live, spokesman Wesley Remmer told me. The closest Cabela's now is one of the profitable 38-store chain's biggest and busiest sites, a 250,000-square-foot center at Hamburg, north of Reading, among Pennsylvania state game lands.
May 19, 2011
NCO Group Inc. of Horsham, a provider of business outsourcing services, has acquired Protocol Global Solutions Inc. of Sarasota, Fla., for an undisclosed amount. Both companies specialize in business process outsourcing services. NCO's focus is on accounts-receivable and customer-relationship management. Protocol's is in contact center services for the energy, health-care, government, pharmaceutical and insurance industries. NCO's president and chief executive officer, Ronald A. Rittenmeyer, said the purchase of Protocol, which has 2,200 employees in the United States and internationally, will enhance market penetration and abilities for growth in the field of customer-relationship management.
March 22, 2011
In the Region Cephalon to buy Gemin X Cephalon Inc. , the Frazer maker of the narcolepsy treatment Provigil, said it would buy Gemin X Pharmaceuticals Inc. for as much as $525 million to gain cancer treatments. Cephalon will acquire the biotechnology company for $225 million in cash and as much as $300 million if Cephalon meets certain regulatory and sales milestones, Cephalon said Monday in a statement. Gemin X is developing its lead drug, obatoclax, for a variety of cancer types.
March 21, 2011
NCO Group Inc., Horsham, said today it appointed Ronald A. Rittenmeyer as president and chief executive officer, effective immediately. He replaced Michael J. Barrist, who will remain chairman of the debt-collection company. Barrist had also been president and chief executive since 1986. Rittenmeyer has been consulting with NCO for the last four months on plans for corporate growth and cost savings, the company said. He was chairman, president and chief executive of Electronic Data Systems until its sale to Hewlett-Packard Co. in 2008.
March 31, 2009 |
Even as the Obama administration does everything it can to boost lending, many U.S. companies are having trouble handling the loans they already have. Weak demand from consumers and other businesses is making it impossible for many companies to stay in compliance with their loan agreements, forcing them to turn to the lenders for relief. But that relief - which often means companies get more time to pay or are allowed to have more debt relative to their profit - comes at a price.
July 25, 2006 |
A Horsham debt-collection business has agreed to be acquired by its chief executive officer and a private-equity firm in an $890 million deal that analysts say could leave it better positioned for growth. The company, NCO Group Inc., said yesterday that it had agreed to be acquired by Michael J. Barrist, its CEO and chairman, and One Equity Partners, of New York. While considering the deal, a committee of the company board of directors gave each nonemployee board member a $25,000 raise.
May 17, 2006 |
Shares of NCO Group Inc. rose 36 percent yesterday after the Horsham company said its chief executive officer had made an $889 million offer to buy the business. The debt-collection company's lackluster earnings growth in recent years has weighed down the stock price, making it an attractive takeover candidate, especially given its ability to generate cash, analysts said. The $27.50-per-share offer by Michael J. Barrist, NCO's chairman and chief executive since 1986, and a partner, One Equity Partners II L.P., represents a 44 percent premium to Monday's closing price of $19.05.
March 2, 2004 |
Help wanted: One thousand people needed to answer phones and perform other back-office tasks for major U.S. financial institutions. Must be in India. Contact Zenta Group, Wayne, Pa. The offshoring of jobs has been rich fodder for presidential candidates and other politicians bemoaning subpar U.S. job growth at a time of increasing global commerce. But talk about banning or restricting outsourcing is overblown: The global economy is here to stay, and that means "you can't have global companies without giving other countries jobs," said Priya Hiranandani, Zenta's 27-year-old founder and chief executive officer.
September 11, 2001 |
Also in this column: ICG write-offs continue Bankers too generous? Cards: A split decision If any company ought to be profiting from the growing army of jobless workers, it is NCO Group, the world's largest debt collection agency. But NCO, which duns hard-pressed medical patients and bank borrowers who have fallen behind on their bills, is having a tough time making ends meet. Sure, the Fort Washington company has more business than ever. But "the cost of collecting this debt" has been rising "even faster" than the number of debtors, Merrill Lynch analyst Thatcher Thompson complained in a recent report.