April 3, 2014 |
PHILADELPHIA The partnership behind the failed Foxwoods Casino project in South Philadelphia filed Monday for bankruptcy court protection, citing claims of $23.6 million from 14 creditors. In addition, Citizens Bank, the largest creditor, is owed an unspecified amount, according to the court petition. People familiar with the situation say the bank lent the project about $75 million. The partnership last week sold its largest asset, a vacant 16.5-acre lot on South Columbus Boulevard between Tasker and Reed Streets.
March 27, 2014 |
Spark Therapeutics L.L.C., a Philadelphia company developing gene-based medicines for debilitating diseases, has signed a collaborative partnership with a gene-therapy firm in Ireland to develop a product to treat a rare form of blindness, the companies announced Tuesday. Spark, a biotechnology company spun out of research at Children's Hospital of Philadelphia, said Dublin-based Genable Technologies Ltd. will license certain patents from Spark, which will be the exclusive manufacturer and provide development expertise for a potential treatment for blindness caused by inherited retinal dystrophy.
March 20, 2014 |
Luke Schenn says he has been comfortable with all of his defensive partners this season, but the Flyers defenseman seems to have developed a quick chemistry with his latest blue-line mate, Andrew MacDonald. Heading into Tuesday night's win over Chicago, Schenn had been paired with MacDonald for five games since his partner was acquired from the New York Islanders before the trade deadline. Schenn is a physical, stay-at-home defenseman, while MacDonald is a smooth skater and a puck carrier.
March 20, 2014 |
GLASSBORO Rowan University announced Tuesday that it had entered an agreement with Lockheed Martin to have the company collaborate with the university's students and faculty on research and development of radar technology. The move builds on a project begun last fall and, Rowan administrators said, is a new model for universities working with industry. The school has made high-profile pledges to expand, especially its research enterprise, with the engineering school seen as a core part of that mission.
March 7, 2014 |
MUCH OF WHAT Philadelphia cops see every day is senseless violence, but life doesn't get much more senseless than a 7-year-old boy battling cancer. So when Officer Michael Levin and his partner, Officer Raymond Esquilin, heard about a caravan of cops from across the country who were traveling to Rhode Island to surprise little Tyler Seddon, who is in the middle of his second bout of leukemia, there was no doubt about whether they would participate. "We were like, 'Dude, we have to go up there and help this kid,' " Levin said.
February 13, 2014 |
The University of Pennsylvania Health System and Lancaster General Health announced an alliance Tuesday that could increase Penn's share of patients who need the most complex levels of care. "That's not going to happen in one day," said Ralph W. Muller, chief executive of the Penn health system. "These are patients who are now going to Jefferson, they are going to Hopkins, they are going to Penn State, and other areas. Over a period of time, more of those patients will come to Penn, and that does benefit us. " A financial benefit to Lancaster General could be better pricing at Penn for high-level treatments and procedures, such as heart transplants, said Thomas E. Beeman, president and CEO of Lancaster General.
January 26, 2014 |
Center City law firm Saul Ewing L.L.P. said Friday that it had named Barry F. Levin, a partner in its Baltimore office, managing partner of the firm. Levin has chaired the firm's business and finance department for three years. He replaces David Antzis, who is returning to the full-time practice of law, as the firm's chief executive. Revenues from Saul Ewing's business and finance practice grew 17 percent during the time Levin chaired the group, the firm said in a statement. "Barry is a strong and proven leader with a vision to grow Saul Ewing to meet the needs of our clients at the pace they are evolving," Antzis said.
January 10, 2014 |
NEWARK, N.J. - Norbert Teufelberger has been in the gaming business a long time. As the CEO of bwin.party digital entertainment, the Denmark native has made a living off "the national and international casino and betting business" for more than 2 decades. Before the passage of the Unlawful Internet Gambling Enforcement Act by Congress in 2006, bwin's Partypoker brand was the largest online-poker brand in the world. Teufelberger's experiences in the United States made him well aware of America's relationship with gambling, where a large percentage of the population does it but it's still considered taboo.
December 22, 2013 |
Jones Group, the women's clothing wholesaler and retailer started by Philadelphia investor Sidney Kimmel in the late 1960s, has agreed to be bought by Sycamore Partners, a New York buyout firm, for $15 per share in cash. The sale values Jones stock at $1.2 billion. Sycamore will also take on Jones' $1 billion in debt. The company was run from offices in New York and warehouses in Bristol, Bucks County. Jones employs about 6,000 people. In a note from Sycamore Thursday night, Jones workers were told there were no plans to close facilities or cut jobs.
November 15, 2013 |
First, William K. Marimow said, he and publisher Robert J. Hall had chatted about how much both liked a story in that morning's Inquirer about Boyds, the iconic Center City clothier. Then the tone of their Oct. 7 meeting abruptly changed. "Mr. Hall said: 'We have a very serious matter to discuss. We are terminating your employment,' " Marimow, who was the newspaper's editor, testified Wednesday. Speaking publicly at length about his firing for the first time, Marimow recounted in a Philadelphia courtroom his version of the story at the center of a legal battle for control among the co-owners of The Inquirer and its parent company, Interstate General Media.