May 8, 2008 |
Like politicians ending a bitter campaign, the activists and company officials who have bloodied each other in a proxy fight for influence over Charming Shoppes Inc. will meet today for the corporate equivalent of election night - the shareholder meeting. Hanging in the balance as final votes are cast at the 10 a.m. meeting at the Bensalem headquarters of the company, whose operations include the Lane Bryant and Fashion Bug chains, will be the fate of chief executive officer and board chairwoman Dorrit J. Bern.
December 14, 1996 |
Norfolk Southern Corp. yesterday sought an injunction in U.S. District Court in Philadelphia to block Conrail Inc. from postponing its scheduled Dec. 23 shareholders meeting. At the meeting, Conrail shareholders will be asked to vote on whether to opt out of a provision of the Pennsylvania anti-takeover law. If they vote in the affirmative, that would, effectively, clear the way for the Philadelphia freight rail company to merge with CSX Corp., of Richmond. Conrail has said that if it does not get enough votes to clear the merger at the meeting, it may postpone the vote, or hold another one. In its motion, Norfolk Southern, which has launched a hostile bid for Conrail, accused Conrail and CSX of "subverting the processes of corporate democracy.
September 17, 2010 |
Shareholders at Continental Airlines Inc. and UAL Corp. approve a deal to form the world's biggest airline. Continental officials announced preliminary results of voting during a shareholder meeting Friday in Houston. United shareholders approved it at a meeting near Chicago. The votes clear the way for the $3 billion stock swap to close in about two weeks. It likely will be some time before passengers notice much difference when they fly Continental or United. The combined airline will be called United and based in United's hometown of Chicago, run by Continental's CEO.
March 8, 1989 |
The New York investment group that is pursuing a hostile takeover of Pennwalt Corp. yesterday flatly rejected the company's offer to open its confidential books. A spokesman for the group, Centaur Partners, said the proposed confidentiality offer had been turned down because it contained an unreasonable request to cease action on its tender offer. Centaur has been asking to peek at the top-secret books since June, when it began to amass stock in the giant Philadelphia chemical company.
May 14, 2009 |
Comcast Corp. has no plans to sell its majority ownership stakes in the Sixers and Flyers because of the weak economy, chief executive officer Brian L. Roberts said in response to a question at the cable company's annual shareholder meeting yesterday morning. He noted that the company has about $31 billion in debt, which it can pay off over 15 years. Comcast welcomed new leadership at the Federal Communications Commission, Roberts said, adding that he believed the company would have a dialogue with government officials about product bundling and the evolution of technology.
April 13, 1988 |
When most teen-agers say all they want is to be heard, they're referring to their parents. But when 17-year-old Samuel Yake of Paoli talks about being heard, he's referring to corporate executives and board members. Yake is a budding gadfly. As a gadfly, he is a member of a select army of company stockholders who pester captains of commerce and industry to be more concerned with the rights and interests of shareowners. "Management reigns supreme," said the Conestoga High School senior.
April 7, 1988 |
When Meridian Bancorp shareholders go to their annual meeting later this month, something will be missing. The free lunch. For 35 years, the company has been serving up chicken a la king, cold cuts, and a beverage to any of its 26,700 shareowners who cared to attend the annual blowout at the Rajah Theater in Reading. Last year, 1,325 lunches were served, at a cost of $7 each. The Reading-based bank is shelving the tradition because, spokeswoman Doris Piasecki says, it wants to go modern and big city, shave expenses, conserve employee time for the affair and change the meeting time and location.
September 10, 1999 |
NovaCare Employee Services Inc. of Norristown yesterday announced it had reached agreement to be acquired by a private investment group. The investment group - which consists of Patricof & Co. Ventures Inc., Fidelity Ventures Limited, and AFLAC Inc. - offered to pay $75.7 million to acquire nearly 30.3 million NovaCare Employee outstanding shares for $2.50 each. The investors plan to operate NovaCare Employee as a private company, renamed NovaSource Inc., that is expected to remain in Norristown.
December 6, 2003 |
Management at First Penn Bank yesterday defeated a challenge by dissident shareholders who want the Center City bank sold to the highest bidder. First Penn officials also said they had complied with federal regulators' demands to improve the bank's financial and operating practices. First Penn "is not ripe" for a sale, chairman Vincent J. Fumo told shareholders at the annual meeting of First Penn's parent, PSB Bancorp Inc. Fumo, better known as South Philadelphia's influential Democratic state senator, spoke after shareholders voted by more than 2 to 1 not to seek a buyer for the bank, which traces its roots to a savings association founded by his grandfather.
August 25, 2007 |
A major shareholder in Arrow International Inc. said yesterday that it would support a proposed $2 billion buyout by Teleflex Inc. of Limerick, according to a regulatory filing. The Robert L. McNeil Jr. 1983 Trust, which previously had opposed a sale of the company, which manufactures medical devices, said it supported the $45.50-per-share cash offer. It made no recommendation to other shareholders on how to vote on the deal. Arrow, which is based in Reading, said yesterday that it had scheduled a shareholder meeting to vote on the deal for Sept.