April 13, 2011
While it's difficult to see Philadelphia lose another corporate headquarters, there's good news in the sale of Tasty Baking Co. to a robust competitor committed to keeping hundreds of jobs at the Philadelphia Navy Yard. Saving those jobs vindicates a high-risk business strategy promoted by a former Chamber of Commerce booster - Tasty chief executive Charles P. Pizzi - and embraced by then-Gov. Edward G. Rendell and other power brokers with whom Pizzi partnered to land taxpayer financing to help build a state-of-the-art bakery.
April 12, 2011 |
THE $165 MILLION deal announced yesterday between Tasty Baking Co., the maker of Philadelphia's beloved Tastykakes, and Georgia-based Flowers Foods may prove to be a sweet deal for Krimpet-lovers, shareholders and taxpayers alike. After hemorrhaging money over the last fiscal year, Tasty agreed to be purchased by Flowers for $4 a share in cash - a huge premium over Friday's closing price of $1.61 but a bargain compared with the company's $7.47 closing price at this time last year.
March 24, 2011 |
Brad Pitt could be coming back here to work. If the stars align - and that means celestial bodies, even more than Hollywood big shots - Philly is in line to host shooting of the film adaptation of World War Z: An Oral History of the Zombie War , the horror novel by Max Brooks. I hear that Paramount Pictures is considering a summertime start with Marc Forster ( Quantum of Solace ) directing and Pitt - who starred here 15 years ago in Twelve Monkeys - as star and producer.
March 22, 2011 |
Excerpts from the weekly Ask Gonzo chat on Philly.com with columnist John Gonzalez: Big, breaking news coming from the Phils: With Chase Utley on the mend, the Fightin's have altered their (food) roster and brought in Tastykakes. This season at Citizen's Bank Park, you'll be able to buy Butterscotch Krimpets, chocolate cupcakes, sugar-free snacks and, my favorite, Kandy Kakes. It's a mind-blowing move. I think we can all agree that if Utley were healthy, this wouldn't have happened.
January 14, 2011 |
Tasty Baking has until 2 p.m. Friday to either make a loan payment that was due Jan. 1 or reach a deal with its banks, giving the beleaguered maker of Tastykakes more financial breathing room. The company had no comment Thursday. Neither did the lead bank, Citizens Bank of Pennsylvania. One possibility Friday, industry observers said, is that the banks will grant a 30-day extension of the forbearance agreement disclosed last week, when Tasty said it was in a liquidity squeeze because of production problems at its new $78 million bakery at the Philadelphia Navy Yard.
January 6, 2011 |
YEARS FROM NOW, I will remember where I was when I heard yesterday's shocking news. I was sitting right here at the Daily News when I learned that Tastykake, financially teetering after a brutal fourth quarter, announced that it may have to merge with another company or - gasp! - sell itself. Merge this Philadelphia icon with some out-of-town pretender pushing snacks like Drakes or, Lord help us, Little Debbie? Gag me with a cupcake. Or sell it? Hell, as long as we're peddling our local treasures, why don't we put the Liberty Bell on Craigslist?
October 29, 2009 |
At the Franklin Institute - make that the Phranklin Institute - administrators found a unique way to honor the Phillies: They've put one of Jayson Werth's game-used bats in the hands of the plastinated, baseball-playing specimen in the "Body Worlds 2 and the Brain" exhibit. Which gives a whole new meaning to "the dead-ball era. " "Body Worlds" is the controversial show that displays real corpses, their skin removed to show internal organs. Wear Phillies garb on World Series game days and get $2 off the admission fee. P as in 'pretzel' or 'Phils'?
May 25, 2009 |
Charles P. Pizzi is a quintessential "Philly guy. " He grew up in Overbrook. He delivered the Bulletin. He learned his ABCs from the nuns at Our Lady of Lourdes elementary school, went on to Overbrook High and the University of Pennsylvania. He cut his teeth in city government, where he served as, among other posts, director of commerce. For 13 years, he led the Greater Philadelphia Chamber of Commerce before becoming, in 2002, president and chief executive officer of the Tasty Baking Co., a quintessential Philadelphia company.
May 23, 2006 |
A judge dismissed charges yesterday against one of two males accused in the March shooting and robbery of a Tastykake delivery driver. In a preliminary hearing, Municipal Court Judge Marsha Neifield threw out charges against Philip Smith, 33, after Smith's attorney, Daniel-Paul Alva, argued that Smith did not fit a description given by Kyle Winkfield, 20. Alva said that Smith was 5 feet, 7 inches tall and that Winkfield described his attacker...
March 18, 2006 |
A $20,000 reward is being offered for information leading to the arrest of two suspects believed to have shot a Tastykake delivery driver before snatching his wallet, police said. Kyle Winkfield, 20, was shot once in the chest Thursday afternoon in West Philadelphia and was in critical condition yesterday at the Hospital of the University of Pennsylvania, police said. Winkfield was attempting to deliver goods to a store in the 6100 block of Vine Street, police said. About 2:45 p.m., police found him on the sidewalk, wounded in the upper-right chest, police said.