December 2, 2015 |
City Controller Alan Butkovitz says he has found potential buyers for stacks of unused wireless network equipment collecting dust in a Philadelphia warehouse. In a letter sent to Mayor Nutter on Monday, Butkovitz said several companies contacted his office with uses for the WiFi equipment that the Nutter administration had concluded was obsolete. One company valued the items at more than $300,000. The inquiries and suggestions came after Butkovitz publicly asked in November that the administration determine the equipment's value and compatibility with current technology.
February 26, 2014 |
As former Mayor W. Wilson Goode was about to leave office in 1991, Philadelphia's first black mayor signed an executive order creating a commission to explore the challenges African American men face in the city. The commission was not formed until 20 years later, when Mayor Nutter established it and named Goode its co-chair. On Monday, that commission presented Nutter with a report, which included recommendations focused on improving the education, employment, and health of the city's African American men and boys.
August 29, 2013 |
How does a blind person find what to "watch" on a TV with 200 channels and 46,000 video-on-demand choices of movies, shows, and clips? Tom Wlodkowski, a blind executive at Comcast Corp., thinks he has the answer: a talking TV channel guide. No joke. "The television is not strictly as visual a medium as you might think," said David Goldfield, a computer technology instructor at the Associated Services for the Blind and Visually Impaired. "Radio drama in the U.S. is more or less dead.
June 12, 2013 |
SAN FRANCISCO - Google is asking the Obama administration for permission to disclose more details about the U.S. government's demands for email and other personal information transmitted online in an effort to distance itself from an Internet dragnet. In a show of unity, Google rivals Microsoft Corp. and Facebook Inc. also supported the attempt to pressure the U.S. Justice Department to loosen the legal muzzle that limits disclosures about government surveillance authorized by courts to protect national security.
July 16, 2012 |
The dearth of early-stage capital available to fund young technology companies in the Philadelphia region is nothing new. It was a source of concern for entrepreneurs and economic-development types in the late '80s, when I moved here. Hand-wringing resumed early last decade after the bursting of the technology-stock bubble. And since the financial crisis-induced recession, anxiety has grown that the region has seriously slipped as a center for venture capital. That's why it was encouraging to hear that NextStage Capital, of Audubon, Montgomery County, apparently is raising a second fund to invest in early-stage software companies.
February 6, 2012 |
Initial public offerings used to be seen as a rite of passage for small businesses. Judging by last week's filing by Facebook Inc. to raise at least $5 billion, it's a big company's game now. Facebook may be just eight years old, but it's no small business. The Menlo Park, Calif., social-network operator had $3.7 billion in 2011 revenue and 3,200 employees as of the end of December. In addition, with $1.5 billion in cash already on hand, Facebook seems as though it's raising capital for a bank rather than a growing technology juggernaut.
February 2, 2012 |
U.S. stocks advanced, snapping a four-day decline in the Standard & Poor's 500 Index, amid signs that manufacturing across the world is strengthening. Financial and industrial shares in the S&P 500 rose at least 1.1 percent to lead gains among 10 groups. Morgan Stanley and Bank of America Corp. added more than 3.2 percent. Whirlpool Corp. surged 13 percent as the appliance-maker projected earnings that beat forecasts. Technology companies in the benchmark index rallied to an 11-year high.
June 14, 2010 |
Here's what becoming a smarter city means to me. Philadelphia just launched a small program to help city companies develop a market for their technologies to improve energy efficiency. The $430,000 program will award grants of between $50,000 and $150,000 to companies with more than a great idea. This money is aimed at getting products off the lab bench and installed into a setting where the entrepreneurs can prove their technologies can walk their talk. How, you might ask, can a city that needed to attract $600,000 in private- sector funds before it could open its public pools this weekend afford to push such a program?
May 26, 2010
Innova Dynamics, Inc., an advanced-materials technology company created by two University of Pennsylvania engineering alumni, said Wednesday that it has attracted $5.5 million in venture financing. The lead investor is Rho Ventures of New York, whose partner, Nicholas Darby, will join the Innova Dynamics board as chairman. MentorTech Ventures, a Philadelphia firm that specializes in technology companies that grow out of Penn, also invested. Innova's founders are Alexander Mittal and Arjun Srinivas, who studied engineering and business at Penn.
October 9, 2008 |
Vishay Intertechnology Inc., of Malvern, will take its battle to gain control of a California semiconductor company to shareholders tomorrow by offering a slate of three directors for the board of the takeover target. The target, International Rectifier Corp., has rejected Vishay's advances, saying that its $1.7 billion offer substantially undervalues the company. Vishay issued a statement yesterday questioning International Rectifier's plan for boosting company profits and accusing its current board of directors of spending "enormous sums to address accounting improprieties that occurred on its watch.