February 28, 2013 |
One of Philadelphia's largest commercial landlords may be facing a battle over control. CommonWealth REIT , the Newton, Mass.-based owner of the 54-story BNY Mellon Center and 24-story One Franklin Plaza, had released its 2012 financial results Monday and disclosed plans to raise $450 million by issuing more shares. On Tuesday, two of the company's largest shareholders blasted that plan in a regulatory filing and urged CommonWealth to change its management structure, buy back stock, and deleverage its balance sheet.
February 12, 2013
B ILL DECKER, 40, of Media, is president of the Hub, which he co-founded in 2004 to provide specialized meeting space and technology/business-support services. The Hub Commerce Square, a 23,000-square-foot meeting-and-event space at 20th and Market streets, opened last May. Already open were the Hub CityView, at 30 S. 17th St., and the Hub Cira Centre, across from the 30th Street station. Q: How did you come up with the idea for the business? A: We bet that companies would use less office space in the future.
February 7, 2013 |
On a day when Michael Dell felt confident enough to announce a $24.4 billion leveraged buyout of the PC maker he founded came word of two less successful outcomes locally. The maker of the Zicam line of cold remedies said it withdrew an offer made in October to acquire Doylestown-based ProPhase Labs Inc. , the maker of Cold-Eeze lozenges. In a filing with the SEC last fall, Matrixx Laboratories Inc. disclosed that it has been trying to acquire ProPhase since May. Matrixx offered to acquire ProPhase for $1.40 per share in September, but was rebuffed.
January 26, 2013 |
The nonprofit Camden Children's Garden has two months to vacate most of its state-owned property before the land is transferred to the Adventure Aquarium next door. In a letter sent last week, the New Jersey Department of Treasury ordered Children's Garden director Michael Devlin to remove all property - including the facility's amusement rides, gazebo, and giant dinosaur - by March 31. The garden has the option to sell its items to Herschend Family Entertainment, the private owner of the aquarium as well as amusement parks around the country.
January 25, 2013 |
IT'S HARD TO FORGET that Ross Berkowitz's new office in Center City used to be part of the 12th Street Gym. Move-in boxes brimming with office supplies pile where fitness instructors recently demanded more sweat from wheezing aerobicizers. The clunk of a dropped weight occasionally interrupts the quiet, a reminder that the gym still thrives beyond Berkowitz's walls. But in his mind's eye, Berkowitz sees and hears only young professionals clattering away on laptops, the hubbub of entrepreneurs cooking up brilliant business plans.
January 14, 2013 |
Disclosure: Ten days ago, I started writing a column advocating Jon Gruden to replace Andy Reid as head coach of the Eagles. I decided to go in a different direction, which isn't unusual. What's unusual is reviving an unfinished column and reworking it. Why now? Three reasons: The Eagles' coaching search meanders on, with Notre Dame's Brian Kelly handing them another snub. A few notables - Ron Jaworski, Dick Vermeil, Mike Mayock, Brian Baldinger - endorsed Gruden. Finally, and maybe most compellingly, I've gotten into a couple of Twitter debates on the topic.
January 1, 2013
SCRANTON - A newspaper received a calendar to help ring in the new year - except the year was 1950. The Scranton Times-Tribune reported that a mail carrier delivered the item, 63 years late, without explanation Friday. The large tube contained a 1950 Pennsylvania Railroad calendar addressed to James Flanagan, former general manager of the Scranton Times. The calendar includes a holiday greeting from a railroad executive dated December 1949. Flanagan died the same month. A Postal Service spokesman said lost mail is sometimes found when a machine is dismantled or office space is renovated.
December 28, 2012 |
NEWTOWN, Conn. - Christmas is gone, and with it the satellite trucks, and now the residents of this most famous small town in America are left with tens of thousands of teddy bears that they don't know what to do with. Mountains of plush stuffed animals - some the size of grizzlies - await itemizing and boxing in a warehouse just east of Main Street, where the highest flag in town now flies at full-staff. Two weeks after the mass shooting at nearby Sandy Hook Elementary School, nearly a week after the streets were jammed with hearses and funeral processions, Newtown is digging itself out from an avalanche of altruism.
December 28, 2012 |
The decision by 3B Orthopaedics to move from Center City's Pennsylvania Hospital and become employees of Aria Health, effective Tuesday, shows that even prominent doctors are not immune from the economic forces reshaping medicine. Driving the move was 3B's desire to expand its footprint in the region, according to Robert E. Booth Jr., one of the partners in 3B, short for Booth Bartolozzi Balderston Orthopaedics. The group had been an independent practice at Pennsylvania Hospital, part of the University of Pennsylvania Health System, since 1998.