October 17, 2013 |
The shifting landscape of American health care - for good or bad, depending on your opinion, status, employer, and particular changes - was evident Tuesday when one of the Philadelphia region's larger private employers, Johnson & Johnson, reported financial results for the third quarter of 2013. The health-care giant had increased sales and profits, but also greatly increased the money set aside to pay pending legal bills, and warned of possible layoffs in a local division because people are postponing elective surgery to repair knees, hips, and backs.
September 6, 2013 |
MATTHEW MORALES lives in a bad neighborhood in one of America's most violent cities. There's an open-air drug market around the corner from his North Camden rowhouse. Dime bags litter the ground. Houses sit boarded up or burned out. Someone's car looks as if it got broadsided while parked at the curb. The public-school system is the worst-performing district in New Jersey. So Morales sees hope when he looks across narrow Pearl Street at the new Camden Community Charter School, its red buildings surrounded by freshly poured white sidewalks and black faux-iron fences.
September 2, 2013 |
MONTOURSVILLE, Pa. - Ralph S. Alberts Co., a custom-plastics manufacturer that got its start 50 years ago making plane parts for a now-defunct local aircraft factory, has survived the decades by embracing new markets. Early on, it built devices to shepherd products along RCA Victor's assembly lines, a business that disappeared with RCA. In the 1970s, Hersheypark asked the firm to rebuild the padded seats and harnesses for its amusement-park thrill rides, a specialty business that has expanded handsomely.
August 30, 2013 |
AND THEN, the lamb opened the fifth seal, and I heard the voice of the fifth living creature say, "Come and see!" I looked, and there before me was a maroon horse. Its rider was holding a Sharpie in his right hand, an 8-by-10 photograph in his left. Then I heard what sounded like a voice among the five living creatures saying, "Thirty minutes without football, and an address to the team regarding the situation and lessons learned. " With that, it vanished, the last layer of pretense fading soft into the Indianapolis night.
July 31, 2013 |
By all accounts, 1-800 Car Cash is a thriving company. A national brand with 19 franchises across the country, it bills itself as the most hassle-free way for car owners to sell their rides for cold hard cash. Just a year ago, Car Cash was a struggling business operated by two bickering brothers out of a dilapidated garage in Midtown Manhattan. The brothers and the business were on the verge of a total meltdown. What happened in the interim is captured in the first episode of CNBC's latest reality series, The Profit , which premieres at 10 p.m. on Tuesday.
July 19, 2013 |
Management at Revel Casino-Hotel backed away Wednesday from its announcement earlier in the week that the 15-month-old property had its first profitable week during the first week of July. "Revel would like to remind its investors and other stakeholders that, as was already noted . . . statements relating to the results of the first week of July 2013 were based on unaudited financial data and estimates that are subject to month-end and quarter-end financial adjustments," the new statement said.
June 13, 2013 |
A block party just isn't the same when the U.S. Open is in the neighborhood. Don't bother setting up a volleyball net or wheeling the old grill around to the front of the house - that could fritter away as much as $100 a day that can be earned from drivers wanting to park near the Merion Golf Club. These are days not only of golfing glory, but also of ordinary people in scruffy shorts and wrinkled T-shirts making a buck off this 113th national golf championship. It's not just the U.S. Open.
June 9, 2013 |
Big pharmaceutical companies strike licensing deals with small companies in hopes of finding new, highly profitable medicine without the cost of buying a whole company. Small companies get funding other ways, such as venture capital firms, but the money from licensing arrangements can mean the difference between continuing operations and closing shop. Sometimes these deals work, sometimes not. Last week presented four examples, three starting and one ending (badly), involving the drugmakers GlaxoSmithKline, Johnson & Johnson, Pfizer, and AstraZeneca, all of which have significant Philadelphia-area operations.
June 4, 2013
PACKED PLANES should help the world's airlines earn $12.7 billion this year, as travel demand accelerates faster than the airlines add seats, according to a new prediction from a trade group. The estimate represents a 67 percent increase over the airlines' $7.6 billion in profits last year. The new figure is a 20 percent jump over International Air Transport Association's estimate just three months ago. IATA said that if its forecast holds, the global airline industry will have its third strongest year since 2001.
May 25, 2013 |
Independence Blue Cross said Thursday its net income last year was $191.5 million, down 39 percent from 2011. Officials at the health insurer, based in Center City, said that the 2012 bottom line was dragged down by a $90 million expense for a new operating platform and that 2011 results were boosted by a one-time $87 million gain from a joint venture. IBC's 2012 operating profit was $402.6 million, up 12 percent from $361.4 million the year before. "Despite the uncertain economy and the significant changes ahead in health care, for the third year in a row, we had a solid year," Daniel J. Hilferty, president and chief executive, said on a conference call with reporters.