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BUSINESS
March 27, 1987 | By Ron Wolf, Inquirer Staff Writer
To kick off a week of festivities early this month, promoters of Aspen's annual "Winternational" ski races lit a huge bonfire in Wagner Park at the foot of Ajax Mountain. On the steep slopes above the town, eerie red ribbons of light soon appeared as hundreds of skiers began a torchlight parade down the snow-covered trails. A display of fireworks erupted over the former mining town. At the finale of the fireworks, a pyrotechnic set-piece proclaimed "Subaru/Aspen" across the mountain.
BUSINESS
May 30, 1987 | By Al Haas, Inquirer Automotive Writer
Subaru of America Inc. earnings were off sharply in the second quarter, thanks to the cost of car-buyer incentives and the weakening of the dollar against the Japanese yen. The Cherry Hill-based company, which markets Subaru cars in the United States, also reported a decrease in earnings for the first six months of fiscal 1987. According to Syd Havely, Subaru's national corporate affairs manager, the earnings drop was greater in the second quarter than in the first because the incentives didn't go into effect until the second period.
NEWS
August 10, 1986 | By Laura Quinn, Inquirer Staff Writer
With work crews completing the finishing touches, Subaru of America Inc. has set the formal opening of its $18 million headquarters in Cherry Hill for October. Earlier this summer, the company moved 450 employees from a nearby industrial park to the new seven-story building on Route 70. The move was a long-awaited solution to the growing company's problem of increasingly cramped quarters. For 16 years, Subaru occupied a converted warehouse at the Airport Industrial Park in Pennsauken, about a mile away from the new headquarters.
BUSINESS
February 18, 1988 | By Al Haas, Inquirer Staff Writer
Subaru of America, which lost $30 million in 1987, yesterday said it made a small profit in its latest quarter, but not enough to preserve the company's common-stock dividend. Subaru suspended its quarterly cash dividend of 9.5 cents a share to "replenish our cash position," said spokesman Syd Havely. The Cherry Hill-based distributor of Subaru automobiles and trucks last paid a dividend on Dec. 31. "We expect the 1988 automotive market to be very competitive and characterized by aggressive marketing programs," said company chairman Harvey Lamm.
BUSINESS
May 9, 2013 | By Yuri Kageyama, Associated Press
TOKYO - Subaru said Wednesday that it was investing $400 million to expand its Indiana factory and would add 900 workers to build the Impreza small car there in 2016. The plant now employs about 3,600 people and builds the Legacy and Outback cars and the Tribeca SUV. It also builds the Camry midsize car under contract with Toyota Motor Corp., the top shareholder in Subaru with a 16.5 percent stake. Subaru, part of Fuji Heavy Industries Ltd., said it would boost capacity at one of two assembly lines at the Lafayette plant - now being used to build the Camry - from 100,000 vehicles to 200,000.
NEWS
February 14, 2013
Subaru of America Inc. is donating $300,000 to the Salvation Army Ray and Joan Kroc Corps Community Center, which broke ground in December at its Cramer Hill site in Camden. The $300,000 donation will fund the center's Choice Food Pantry, which will be set up similar to a supermarket. The $90 million, 120,000-square-foot Kroc Center is expected to create 160 jobs and is scheduled to open in 2014. - Claudia Vargas
BUSINESS
September 10, 1988 | By Richard Burke, Inquirer Staff Writer
The high cost of buyer-incentive programs at Subaru of America Inc. resulted in third-quarter losses of $23.5 million. For the nine months that ended July 31, the Cherry Hill importer of Subaru vehicles reported losses of $31.7 million, which it said were caused largely by a program of rebates and advertising instituted this year to boost lagging sales. Sales were down 9 percent for the third quarter from the year before, and for the first nine months of the fiscal year. The program is designed to allow Subaru distributors to offer rebates averaging $2,000 per car. SUBARU OF AMERICA INC. (OTC)
BUSINESS
June 15, 1990 | By Al Haas and Larry Fish, Inquirer Staff Writers
Subaru of America Inc., the U.S. importer of Subaru cars, appears to be continuing its fiscal renaissance, reporting yesterday that it was tacking $5.5 million in second-quarter earnings onto the $10 million it made in the first quarter. These tidings follow several lean years during which the company lost a total of $80 million. Subaru attributed its improved results to the higher profit margins of its newest model, the Legacy compact, and reduced advertising and expenses for sales incentives.
BUSINESS
December 2, 1987 | By Al Haas and Ron Wolf, Inquirer Staff Writers
The Japanese yen's increased strength against the dollar, which increased costs of the cars it imports, and expensive incentives offered to sell cars left Subaru of America Inc. with a loss for the second quarter in a row. The Cherry Hill-based importer and distributor of cars made by Fuji Heavy Industries of Japan had predicted a loss for the quarter. The $15 million in red ink was an improvement from a $50 million loss in the previous quarter. SUBARU OF AMERICA (OTC) 4 QTR. '87 4 QTR. '86 PCT. END 10/31 END 10/31 CHG. Sales (millions)
NEWS
May 23, 1986 | The Inquirer Staff
Subaru of America Inc. yesterday reported record net income for its fiscal second quarter, ended April 30, of $23.2 million or 47 cents a share, compared with $18.4 million or 37 cents a share in the same period a year ago. Net sales also were a record, rising to $476.6 million from $326.5 million last year, the company said. The Pennsauken company, the exclusive U.S. importer and distributor of Subaru vehicles and replacement parts, said it also had record sales and earnings in the first six months of the fiscal year.
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ARTICLES BY DATE
NEWS
July 21, 2016 | By Allison Steele, Staff Writer
Six years ago, Camden County, city, and state officials announced $23 million in upgrades to the roads and sewers around the Campbell Soup Co. headquarters off the Admiral Wilson Boulevard - improvements meant to improve drainage and make the area more attractive for future business development. In late 2014, Subaru of America announced that the company would build a 250,000-square-foot headquarters and separate training facility on the site of the former Sears store. The company broke ground in December.
NEWS
May 31, 2016 | By David O'Reilly, Staff Writer
As a boy growing up in Florence Township, Craig Wilkie knew that the New Jersey Turnpike ran through farmland on the east side of town, the Pennsylvania Turnpike began west of the Delaware River, and neither was easy to access. Today Wilkie, 49, is mayor of this river town of 12,000. And those once-remote turnpikes are its economic lifeblood: arteries to a pulsing "I want it now" retail economy hungry for next-day delivery. One key to satisfying e-consumers in the Age of Amazon is the well-situated distribution center.
NEWS
January 26, 2016 | By Allison Steele, Staff Writer
Last fall, the youth development organization Hopeworks 'N Camden hosted its first-ever hack-athon, an event aimed at using technology to find solutions to the city's economic problems. The hack-athon, sponsored by companies that included Subaru of America and Starbucks, hosted 96 young men and women, plus 20 from Hopeworks, as well as 14 developers from various companies. The event has led to a growing relationship between Hopeworks, which provides young Camden residents with high-tech job training, and Subaru, which has since offered company tours and information technology workshops to aspiring Web developers, said Hopeworks executive director Dan Rhoton.
BUSINESS
January 7, 2016 | By Linda Loyd, Staff Writer
Automakers on Tuesday reported record U.S. sales for 2015 and for December, and industry observers suggested that 2016 could be even better. New-vehicle sales in South Jersey, Delaware, and Southeastern Pennsylvania mirrored the national trend, with about 393,000 vehicles sold last year, compared with 375,000 in 2014, said Kevin Mazzucola, executive director of the Greater Philadelphia Auto Dealers Association. In Philadelphia, Bucks, Chester, Delaware, and Montgomery Counties, dealers sold 194,500 new vehicles in 2015, compared with 186,635 the year before, said Mazzucola, whose group runs the Philadelphia Auto Show, which will begin Jan. 30. "Car sales have been increasing for an unprecedented six years," said Michelle Krebs, senior analyst at AutoTrader.com.
NEWS
December 11, 2015 | By Allison Steele, Inquirer Staff Writer
Subaru of America on Wednesday broke ground on the site of the company's future Camden headquarters, a project that will transform a vacant plot of land off the Admiral Wilson Boulevard into a sprawling office park. The property, across from the Campbell Soup Co. complex, will be the new home base for the company's U.S. operations, bringing together four offices. In addition to the 250,000-square-foot facility planned for the land, the company will build an 83,000-square-foot training facility.
NEWS
September 16, 2015 | By Kevin Riordan, Inquirer Columnist
Mike Cannon arrives at Jersey Java and Tea with a question. "Urbanists?" he asks, glancing around the cluster of young people on the Haddonfield coffee shop's patio. Heads nod, and Cannon - who's 61 and lives in Laurel Springs - pulls up a chair and dives into the conversation. Welcome to another discussion hosted by the South Jersey Urbanists, a group that seeks to improve the region's small cities and towns by encouraging walkability, sustainability, and smarter development.
ENTERTAINMENT
August 29, 2015 | By Inga Saffron, Inquirer Architecture Critic
Over the years, New Jersey officials have come up with one scheme after another to revive Camden, the state's poorest city. First, there was the entertainment zone along the Delaware waterfront. Now, there is the Gateway District off Admiral Wilson Boulevard, near Campbell Soup. All have involved oodles of tax breaks, acres of surface parking, and relatively few jobs for the long-suffering residents of Camden. Subaru of America is the latest beneficiary of the state's generosity, and it appears to be following the same script in the name of bolstering Camden's anorexic economy.
NEWS
August 24, 2015
ISSUE | TAX BREAKS Stuck in reverse The recently unveiled plans for a new Subaru of America headquarters in Camden are extremely disappointing. They consist of two squat buildings and more than 1,000 parking spaces. We taxpayers are to give up $118 million in tax revenue so that Subaru can build an outdated, suburban-style office complex within a 13-minute walk of the biggest transit hub in South Jersey. This will do nothing to revitalize the city. That would require it to encourage interaction with the city around it, and this plan pretty much guarantees that will never happen.
NEWS
May 26, 2015 | By Allison Steele, Inquirer Staff Writer
Last year, as companies announced plans to move to Camden with help from state tax incentives, a group of local business owners started talking about how they could get in on the action. Several of the corporations poised to relocate to the city in the future, including Subaru of America and Holtec International, will build new facilities there. The area's contractors and suppliers saw an opportunity for themselves, said Jim Bannon, general manager of Stelwagon Roofing Supply, which sells roofing materials and has locations in the city's Bergen Square neighborhood and Philadelphia.
NEWS
February 16, 2015 | By Scott Sturgis, For The Inquirer
2015 Subaru Legacy 2.5i Limited: Another humdrum midsize sedan? Price: $30,580 as tested ($26,495 for a base Limited, and $21,695 for the most basic model). Conventional wisdom: Good for February, but not a lot of fun. Marketer's pitch: "Dog tested. Dog approved. " (Approved by Mr. Driver's Seat's three dogs, as well.) Reality: More fun than it first appears - and still practical. Sedan delivery: I've always liked Subaru's roomy Forester crossover and the cute, versatile Impreza hatchback.
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