March 24, 1989 |
Safeguard Scientifics Inc. of King of Prussia said it had agreed in principle to sell its PowerTech Systems Division, based in Aberdeen, S.D., to a Jenkintown partnership, Pitcairn Group L.P. PowerTech, which makes gear drives and other power-transmission devices for industrial uses, has about 350 employees and had sales of about $40 million in 1988, Safeguard said. It would not disclose PowerTech's profits. Neither Safeguard nor Pitcairn would disclose the sale price. Safeguard said that specific terms of the transaction are subject to negotiation and that the deal is conditioned upon Pitcairn's financial and legal review of PowerTech Systems.
February 11, 1988 |
The closing on the sale of Woodhaven Gardens to a North Jersey-based partnership has been delayed for 60 days, spokesmen for the partnership, the city and the U.S. Department of Housing and Urban Development said this week. Michael Pomeranc of Fort Lee, N.J., said he, his brother Lawrence and their two partners had asked for the postponement to clear up some issues "so the bank feels comfortable closing with us. " The settlement on the deteriorated former low-income complex, at Woodhaven and Thornton Roads, had been scheduled for Monday.
August 1, 2012 |
The U.S. Justice Department's surge of 50 agents, who have been working with Philadelphia police and the District Attorney's Office, is having a welcome payoff. Since early June, they've made 300 arrests on assault, drug, weapons, and other charges, and seized 80 guns. The Violent Crime Reduction Partnership represents an unprecedented level of cooperation, according to Deputy Mayor Everett Gillison. The theory behind the project is that a small number of Philadelphians commit a large number of crimes.
August 2, 1987 |
The Chester County Partnership for Economic Development has begun a direct- mail survey of county businesses in an effort to learn why businesses locate in Chester County. The 12-page survey, which is targeted at each of the approximately 8,000 businesses in the county, lists 42 questions asking why businesses have located in the county, why they have remained and what they view as the assets and drawbacks of being in the county. The survey was announced Tuesday by the Chester County Commissioners and partnership president Thomas Gallagher.
December 8, 1993 |
One thing you'd better be prepared for if you sue your employer: You're not going to like what you hear in court. Ellen Joyce Masterson is learning that lesson as she sits through her sex discrimination trial in federal court against Labrum & Doak, the Center City law firm for which she has worked as an associate for the past nine years. Although Masterson contends she received glowing reviews during her tenure, she's been damned with faint praise by the firm's male hierarchy as they fight her accusation that she was denied partnership because of her gender.
June 21, 1990 |
Democratic congressional candidate John Innelli waded into the Partnership for Economic Development controversy this week, blaming the Republican-run county government for wasting taxpayers' money. Innelli did not mention opponent U.S. Rep. Curt Weldon, (R., Pa.) in his prepared text, but said the results of a federal Housing and Urban Development audit of the organization Weldon founded showed "the elected officials of Delaware County and their subordinates spent our money to benefit themselves, their relatives and their friends.
March 20, 1986 |
A contract for a major residential and commercial development on 2.5 acres at 34th and Chestnut Streets in West Philadelphia was awarded by the Redevelopment Authority yesterday to a partnership that includes the University of Pennsylvania. The project, to be called Chestnut Commons, will eventually include 450 one- and two-bedroom apartments, 28,000 square feet of retail space and a 368-space underground garage. The project will consist of three tower buildings and will cost $60 million, according to Daniel J. Keating, whose Villanova construction firm, Danico Inc., is one of the partners.
September 1, 1990 |
Bret Saberhagen, two-time Cy Young Award winner for the Kansas City Royals, and former Phillies pitcher Dave Rucker defaulted on 1986 loans in connection with their investments in a New Jersey partnership, according to civil complaints filed by Meritor Savings Bank of Philadelphia. Saberhagen and Rucker were among defendants named in six lawsuits filed Monday in U.S. District Court in Camden and two other suits filed in Superior Court in Camden in connection with investments in an Iselin, N.J., limited partnership called Jockey Club Associates.
September 7, 1989 |
Francis V. Mulcahy, chairman of the besieged Delaware County Industrial Development Authority, has resigned. His action followed the authority's decision to conduct an internal audit. Mulcahy's letter of resignation was delivered by hand Tuesday morning to the office of Delaware County Council Chairman Nicholas F. Catania. The council appoints authority members. Catania said in an interview that there had been member concern "about how the IDA has been spending its money.
March 28, 2002 |
KATE DESSART MAGER was named Gatorade State Girls Basketball Player of the Year after a season in which she averaged 16.1 points, 6.5 rebounds and 3.2 steals for Cardinal O'Hara High in Springfield, Pa. The senior, who also was voted the top Philadelphia girls player by School Sports magazine, maintains a 4.0 grade-point average, scored a 1,330 on the SAT and has committed to Villanova. The award is given by the sports drink company in partnership with Scholastic Coach and Athletic Directors Magazine.