Philadelphia Business Journal articles from December 1999

Philadelphia Business Journal archives from December 1999

A new level of discord in health care.
December 31, 1999... Hospitals, insurers are at loggerheads over payment denials, adjustments Philadelphia-area hospitals have long complained about slow payments from managed-care companies. Now they have a new complaint, one that is creating an even wider...

Will it prove its worth?(Editorial)
December 31, 1999... A new business court program is welcomed by many, but questions center on caseload management, the experience of the judges assigned, and whether it will have a pro-business bias. It began as a business dispute, tougher than most but...

Aetna-Pru merger lands on dubious list.(Brief Article)
December 31, 1999... Aetna's $1 billion acquisition of Prudential Insurance Co.'s managed-care business made a New Jersey merger and acquisition consulting firm's list of the 10 biggest deals of 1999 that pose the greatest threat to shareholder value. ...

Peco's N.Y. nuke buy in jeopardy.(Brief Article)(Statistical Data Included)
December 31, 1999... A surprise maneuver by a New York utility threatens to sink a Peco Energy Co. venture's $163,million deal to buy two nuclear plants in the state. Rochester Gas & Electric plans to exercise its right as partial owner of one of two Nine...

A capital celebration.(Brief Article)
December 31, 1999... Small firm has big role in White House Millennium A small Conshohocken firm was tapped to play an important role in the millennium celebration in Washington, D.C., counting on the event to mark a new era of its own. Innovision Media...

Colliers plotting Latin American strategy.(Brief Article)
December 31, 1999... In a move designed to give it a foothold in Latin American markets, real estate brokerage Colliers Lanard & Axilbund has purchased a majority interest in a Fort Lauderdale, Fla.-based firm The deal between Philadelphia-based Corners...

Unidyne looks to Colmen Capital.(Brief Article)
December 31, 1999... On the same December day that Unidyne Corp.'s stock reached a new 52-week low, dipping to 20 cents a share, it hired an investment and consulting firm to help turn things around. The Exton-based maker of vehicle emissions testing...

Firstrust opens city lending center.(Brief Article)
December 31, 1999... Firstrust, Bank is expanding its Center City presence, with a new commercial lending office at 1515 Market St. The $1.7 billion bank, which has been on JFK Boulevard, has taken a larger space for its new financial center operation, to be...

Schmidt brewery site to be auctioned.(Brief Article)
December 31, 1999... The 14-acre C. Schmidt & Sons Inc. brewery site at 2nd Street and Girard Avenue in Northern Liberties will go. on the auction block in January with bids beginning at $1 million. Several unmet conditions agreed to by the city of Philadelphia...

Vanguard again 2nd in cash inflow.(Brief Article)
December 31, 1999... MALVERN -- For the second straight month; the Vanguard Group's cash inflow was second in the industry, at $1.6 billion. That was better than the nation's largest fund family, Fidelity Investments of Boston, which posted a net inflow of $1...

Harleysville National buys upstate bank.(Brief Article)(Statistical Data Included)
December 31, 1999... HARLEYSVILLE -- Harleysville National Corp. has agreed to buy Citizens Bank & Trust Co., a $180 million community bank based in Palmerton. The approximate value of the stock-for-stock transaction is $29.9 million, more than 21 times Citizens...

CORRECTION.(Brief Article)
December 31, 1999... The name of Hopper Soliday, A Division of Tucker Anthony Inc., was misspelled in the security brokers list in the 2009 Book of Lists. Also, thew phone number for Mental Health Consultants Inc. on the list of preferred provider organizations...

Local insurer singing to the tune of EI E&O.(Brief Article)
December 31, 1999... Legion Indemnity has joined forces with a Ga. electronic-commerce company to launce an insurance policy created to address the potential problems that are unique to e-business. A new day is definitely dawning when a buttoned-down...

Entering private sector, Mullin shares his views.(Brief Article)
December 31, 1999... The outgoing city commerce director is taking a position as a principal at consulting firm Econsult. He talks about his successes and disappointments as a public servant. With just a few days left in Mayor Ed Rendell's administration,...

Area strikes out on list of top 100 U.S. hospitals.(no Philadelphia-area hospitals make the list of Top 100 hospitals in the US)(Brief Article)
December 31, 1999... Although the Philadelphia region has more than 100 medical centers of varying sizes and specialties, none of them managed to find their way on the list of the "Top 100 hospitals" in the United States, published in December by Baltimore-based...

Hotels: Good news and bad news in 2000.(Brief Article)
December 31, 1999... First, a very warm and fuzzy "Happy New Year" to hotel and tourism folks throughout Philadelphia and the region. Love you all back. Now, onto the ugliness: Good luck. Republican National Convention? Whatever. You all know this is...

$35M raised for site aimed at pipe sellers.(SupplyFORCE.com to build business-to-business web site for Affilated Distributors pipe distribution)(Brief Article)
December 31, 1999... SupplyFORCE.com to create network for industrial distributors The Philadelphia area will soon be home to yet another mammoth business-to-business electronic-commerce company. SupplyFORCE.com has raised $35 million to build a Web site...

Kranzco Realty preferred stock on ratings alert.(Brief Article)
December 31, 1999... Fitch IBCA, the rating service, has placed a rating alert on Kranzco Realty Trust's preferred stock in light of its merger with CV Reit, a deal that creates an umbrella partnership real estate investment trust called Kramont Realty Trust. ...

Keystone buys warehouse.(Keystone Property Trust buys warehouse in Carlisle, PA)(Brief Article)
December 31, 1999... Keystone Property Trust acquired a 407,000-square-foot bulk distribution warehouse in Carlisle for $16 million. The building is fully leased for 10 years to Dana Corp., a supplier to vehicle and engine manufacturers. The West...

Toll earnings through roof.(Toll Brothers Inc. 1999 earnings)(Brief Article)
December 31, 1999... Riding the wave of a booming housing market, Toll Brothers Inc. had a banner fourth quarter and fiscal year, reporting record numbers in earnings, revenues, contracts signed and backlog. This marked the company's seventh consecutive year of...

The fine print.(Philadelphia-area commercial real estate news)(Brief Article)
December 31, 1999... Liberty Property Trust received zoning approval from East Whiteland Township to build a 6-story;. 200,000-square-foot office building, full service hotel and two restaurants on 60 acres at the intersection of Routes 202 and 29 Assessment...

Pa. e-commerce law clears up legal issue.(Pennsylvania Electronic Transactions Act)(Brief Article)
December 31, 1999... Just in time for the New Year, but too late to save us from an unfortunate purchase of argyle socks, Pennsylvania has passed a law clarifying the legal nuances of electronic-commerce. It's an important development, laying the groundwork...

Levin, on a jet plane.(Philadelphia Common Pleas Court Judge Stephen E. Levin to retire and seek senior judge status)(Brief Article)
December 31, 1999... Philadelphia Common Pleas Court Judge Stephen E. Levin, who presides over the court's class action program, will retire in 2000 and seek senior judge status, although not as soon as initially anticipated. Levin, 67, said last week that...

Cozen & O'Connor.(adds lawyers in southern New Jersey and Washington State)(Brief Article)
December 31, 1999... Cozen & O'Connor, the Philadelphia law firm, added a total of 14 lawyers to its outposts in Seattle and South Jersey in separate expansions announced Dec. 16. In South Jersey, eight lawyers joined Cozen from the law firm of Davis, Reberkenney...

William H. Ewing.(received the Philadelphia Bar Association's Fidelity Award)(Brief Article)
December 31, 1999... And in case you had to leave early, that was William H. Ewing, a partner with Eckert Seamans Cherin & Mellot, who received the Philadelphia Bar Association's Fidelity Award toward the end of its Dec. 7 annual meeting. Ewing, a shareholder...

OSHA nixes pleas to extend ergo deadline.(Occupational Safety and Health Administration ergonomics regulations)(Brief Article)
December 31, 1999... Business groups sought more time to examine massive regulations The Occupational Safety and Health Administration is sticking to its Feb. 1 deadline for public comment on its proposed ergonomics regulations, despite requests from business...

Y2K phone help.(help for small business owners to address Y2K computer problems)(Brief Article)
December 31, 1999... Let's say you're one of the thousands of small business owners who ignored the Year 2000 computer crisis. Maybe you'II be lucky and your computers will work like a charm Jan. 1. But if they don't, don't despair: You can still get help. ...

Disabled work force aid.(presidential task force says workers with disabilities should be able to live in subsidzed house even if they exceed income limits)(Brief Article)
December 31, 1999... A presidential task force said workers with disabilities should be allowed to live in subsidized housing even if they exceed income limits. This exemption was one of several recommendations issued by the task force, which studied ways to...

SBA, gay Latinos team up.(Small Business Adminstration enters partnership with National Latina/Latino Lesbian, Gay, Bisexual & Transgender Organization)(Brief Article)
December 31, 1999... The SBA has entered into a partnership with the National Latina/Latino Lesbian, Gay, Bisexual & Transgender Organization to encourage Hispanic-owned companies to use SBA programs. It's the SBA's first joint effort with a gay...

CEO Portrait.(Brief Article)
December 31, 1999... Personal information Name: Leza Raffel Title: President Company: The Communication Solutions Group Inc. of Jenkintown. Type of company: Full-service public relations and marketing agency. Education: BS, communications,...

Lumbermens to stick with niche insuring woodworkers.(Pennsylvania Lumbermens Mutual Insurance Co.)(Brief Article)
December 31, 1999... If a tree falls in the forest, chances are good that sooner or later a client of Pennsylvania Lumbermens Mutual Insurance Co. will hear about it. For the Philadelphia-based commercial property and casualty insurer, money does grow on...

E-commerce hopes propel Provident's stock price.(Brief Article)(Statistical Data Included)
December 31, 1999... Investors back insurer despite years of mounting losses For a company that's bleeding red ink at an increasing rate, Provident American Corp. has managed to post a fairly impressive stock market performance in recent months. The...

Insurance claims firms adjust nicely.(Brief Article)
December 31, 1999... Richard Cohen and Franklin Horowitz represent the third generation in their respective families to become leaders in the public insurance adjustment business, and they've decided to shake things up. A long-standing rivalry between members...

Phila. insurance industry jobs on the decline.(Brief Article)
December 31, 1999... In 1990 the insurance industry employed about 69,000 people in greater Philadelphia. By last year, that number had sunk, slowly but steadily, to 63,000. What gives? Mergers and downsizings are largely to blame. In 1998, both the...

Gladwyne Software offers bond for IT projects.(Brief Article)
December 31, 1999... A Philadelphia suburban start-up is pioneering th3 use of one of the oldest forms of insurance, the surety bond, to protect against one of the newest forms of risk, the chance that a big-ticket computer installation will go seriously wrong....

Workers' Compensation Insurers.(Statistical Data Included)
December 31, 1999... Workers' Compensation Insurers RANKED BY DIRECT PREMIUMS WRITTEN IN 1998 Phone Holding Company Fax Rank...

White Dog's tale.(Brief Article)
December 31, 1999... Judy Wicks has grown the White Dog Cafe, founded in 1983, into a renowned Philadelphia restaurant by making the business her life. But in Wicks' case, her drive has hardly turned her into a one-dimensional workaholic. Wicks, who lives...

Charting the death of dinosaur jobs.(Brief Article)
December 31, 1999... As airlines repeatedly cut the commissions that they pay to the hard working travel agent and as the Internet continues on its inevitable path to dominance as the preferred method of booking and buying travel, it now seems obvious that...

PEOPLE IN THE NEWS.(Brief Article)
December 31, 1999... * AWARDS & ACHIEVEMENTS Better Business Bureau of Eastern Pennsylvania, Philadelphia, announced the following additions to its board of directors: Terrence J. Connell, director of sales and service at MCI Worldcom, was elected...

THE SHORT OF IT.(practices of members of the Philadelphia bar association)(Brief Article)
December 31, 1999... Several members of the Philadelphia bar played key roles In recent years in supporting efforts to create a dedicated forum for the handling of business litigation. They included: Clifford E. Haines, a shareholder in the law firm of...

Herron was one of 'Casey Five'.(discusses the career of Judge John W. Herron)(Brief Article)
December 31, 1999... His 12 years on the bench have found Judge John W. Herron, at different times, between Pennsylvania and Big Tobacco, Marty Weinberg and Happy Fernandez, and a disgruntled colleague and the system. But no matter the difficulty of the...

Sheppard disdains fast, loose.(Brief Article)
December 31, 1999... A reputation of playing it straight The new commerce case management program in Philadelphia Common Pleas Court promises major changes for businesses, their lawyers, and the very system of civil justice in the city. Not to mention...

THE SHORT OF IT.(future cases that will be handled by the Common Pleas Court)(Brief Article)
December 31, 1999... Common Pleas Court will begin accepting newly filed cases into its commerce case management program Jan. 3. These are some of the cases the program is expected to handle, excerpted from its published guidelines: * Disputes between or...

New York's model helped Phila. establish own.(case management program )(Brief Article)
December 31, 1999... Within a year of its debut, the New York court division on which Philadelphia's new commerce program. is modeled cut the average time needed to resolve business cases by 29 percent and increased by 85 percent the number settled before trial....

Chester Valley Bank opens Center City office.(Brief Article)
December 31, 1999... DOWNINGTOWN -- Chester Valley Bancorp Inc.'s bank subsidiary is opening a Philadelphia trust office within the office of its investment subsidiary, Philadelphia Corporation for Investment Services, in One Liberty Place. First Financial Bank,...

Teamsters Local 115 boss gets reinstated.(John P. Morris)(Brief Article)
December 31, 1999... John P. Morris was reinstated as leader of Teamsters Local 115 by a federal judge who said union officials failed to justify his ouster. Morris had been removed as leader of the Northeast Philadelphia-based local in November. The...

Hotel gets third name in a year.(St. Regis hotel changes to the Westin hotel)(Brief Article)
December 31, 1999... The St. Regis hotel will carry a new banner, effective Feb. 15. The hotel's parent company said it will reflag the 290-room hotel as a Westin, saying the Westin name will help attract business travelers to Center City. It's been just six...

Comcast invests $750 million.(Comcast Corp. acquires Comcast MHCP Holdings L.L.C.)(Brief Article)
December 31, 1999... Comcast Corp. said it has agreed to acquire the 45 percent of Comcast MHCP Holdings LLC that it does not own from the California Public Employees Retirement System for $750 million in cash. The Center City-based cable operator and CalPers...

VF Investment to be acquired.(Susquehanna Bancshares Inc. to acquire Valley Forge Investment Co. Inc.)(Brief Article)
December 31, 1999... Susquehanna Bancshares Inc. agreed to buy Valley Forge Asset Management Corp., a broker/dealer and investment adviser, and its parent, Valley Forge Investment Co. Inc., in cash deals. Almost 30 years old, the King of Prussia investment house...

JFK doctors join union.(John F. Kennedy Memorial Hospital)(Brief Article)(Statistical Data Included)
December 31, 1999... A group of about 20 primary-care physicians and the financially distressed John F. Kennedy Memorial Hospital joined the Tallahassee-based Federation of Physicians and Dentists, which will represent the doctors in contract negotiations with...

Baxter resigns from PBHG fund.(Christine Baxter)(Brief Article)(Statistical Data Included)
December 31, 1999... Christine Baxter, manager of the PBHG Emerging Growth fund for the life of the fund, stepped down to concentrate on another fund at Wayne-based Pilgrim Baxter. In a regulatoiy filing, PBHG disclosed that as of Jan. 1, Baxter will turn over...

Airport Embassy to be sold.(Brief Article)(Statistical Data Included)
December 31, 1999... Strategic Hotel Capital Inc., a hotel investment company in Chicago, plans to sell its Embassy Suites that sits about a mile from Philadelphia International Airport. The 263-room hotel was built in 1990 and contains a restaurant, indoor...

Elf Atochem creates division.(ATO Portland)(Brief Article)
December 31, 1999... Elf Atochem North America of Philadelphia has created a new division ATO Portland. Larry Farmer, general manager of the company's Intermediate Chemicals Group, was named president of the new division. Farmer will be responsible for the...

Rendell joining law firm.(Mayor Edward G. Rendell to join Ballard Spahr Andrews & Ingersoll)(Brief Article)
December 31, 1999... Mayor Edward G. Rendell and his former chief-of-staff, David L. Cohen, will soon be working together again. Upon leaving office in January, Rendell will be joining Ballard Spahr Andrews & Ingersoll as a partner. Cohen is chairman of the law...

Unisys exec to head Swiss company.(Alfred Ruessli named chairman of Ascom Holding AG)(Brief Article)
December 31, 1999... Alfred Ruessli, vice president of world marketing at Blue Bell-based Unisys Corp., was named chairman of Ascom Holding AG, a Swiss manufacturer of telecommunications equipment. Ruessli, a member of the Ascom board, will replace Felix Wittlin...

From the publisher.
December 24, 1999... The Book of Lists that you hold in your hand is one of our most popular projects. No doubt it's one of your most useful reference materials as well. While we've been providing local business news in this community for 17-plus years, this is...

From the newsroom.
December 24, 1999... Welcome to the Philadelphia Business Journal's 18th annual Book of Lists. This Book of Lists can be viewed as a roadmap to the region's business world, providing a detailed picture of the various industries and sectors that do business here....

SBA Lenders.
December 24, 1999... SBA Lenders RANKED BY VALUE OF LOCAL LOANS Phone Name Fax Rank...

Mutual Fund Companies.
December 24, 1999... Mutual Fund Companies RANKED BY TOTAL NET ASSETS AS OF 3/31/99 Phone '99 Rank Name fax '98 Rank...

Investment Bankers.
December 24, 1999... Investment Bankers RANKED BY LOCAL NUMBER OF INVESTMENT BANKING PROFESSIONALS Phone Name Fax...

Banks.(Statistical Data Included)
December 24, 1999... Banks RANKED BY RANKED BY LOCAL DEPOSITS AS OF 6/30/98 Phone '99 Rank Name Fax...

Securities Brokers.(Statistical Data Included)
December 24, 1999... Securities Brokers RANKED BY NUMBER OF LOCAL LICENSED BROKERS Name Rank Address 1. Janney Montgomery Scott 1801 Market St. Philadelphia, Pa. 19103 2. First Union...

Venture Capital Firms.(Statistical Data Included)
December 24, 1999... Venture Capital Firms RANKED BY TOTAL CAPITAL UNDER MANAGEMENT Phone '99 Rank Name Fax '98 Rank...

Mortgage Lenders.(Statistical Data Included)
December 24, 1999... Mortgage Lenders RANKED BY DOLLAR VOLUME OF LOCAL LOANS IN 1998 Phone '99 Rank Name Fax '98...

Credit Unions.(Statistical Data Included)
December 24, 1999... Credit Unions RANKED BY TOTAL ASSETS Phone Name Fax Total assets Rank Address ...

Center City Office Buildings.(Statistical Data Included)
December 24, 1999... Center City Office Buildings RANKED BY TOTAL SQUARE FEET Name Total sq. feet/ Rent per Rank Address sq. feet leased square...

Residential Real Estate Brokers.(Statistical Data Included)
December 24, 1999... Residential Real Estate Brokers RANKED BY 1998 GROSS SALES FROM CLOSED TRANSACTIONS Phone Name Fax...

Commercial Real Estate Brokers.(Statistical Data Included)
December 24, 1999... Commercial Real Estate Brokers RANKED BY LOCAL LICENSED AGENTS Phone/ '99 Rank Name ...

Office Leases.(Statistical Data Included)
December 24, 1999... Office Leases RANKED BY SQUARE FEET FOR LEASES SIGNED 9/30/97 THROUGH 10/01/98 Square feet Lease term Rank Tenant ...

Commercial Property Managers.(Statistical Data Included)
December 24, 1999... Commercial Property Managers RANKED BY SQUARE FEET MANAGED LOCALLY '99 Rank Name '98 Rank Address 1. Trammell Crow Company [10] 575 E. Swedestord Road Wayne, Pa. 19087 ...

Interior Designers.(Statistical Data Included)
December 24, 1999... Interior Designers RANKED BY DESIGN SQUARE FEET COMPLETED IN 1998 Phone Name Fax Rank...

Business Parks.(Statistical Data Included)
December 24, 1999... Business Parks RANKED BY RENTABLE SQUARE FEET Phone [*]/ Name Fax/ Rank...

Real Estate Developers.(Statistical Data Included)
December 24, 1999... Real Estate Developers RANKED BY SQUARE FEET CURRENTLY UNDER CONSTRUCTION Phone/ Name Fax/ Rank...

General Contractors.(Statistical Data Included)
December 24, 1999... General Contractors RANKED BY 1998 LOCAL BILLINGS '99 Rank Name '98 Rank Address 1. Gilbane Building Co. [2] 100 Penn Square East, Suite 1040 Philadelphia, Pa....

Engineering Firms.(Statistical Data Included)
December 24, 1999... Engineering Firms Ron Amoroso RANKED BY 1998 LOCAL BILLINGS '99 Rank Name '99 Rank Address 1. Raytheon Engineers and Constructors [1] 30...

Architecture Firms.(Statistical Data Included)
December 24, 1999... Architecture Firms RANKED BY 1998 LOCAL BILLINGS Name Phone/ '99 Rank Address Fax/ '98 Rank...

Home Builders.(Statistical Data Included)
December 24, 1999... Home Builders RANKED BY NUMBER OF HOMES BUILT IN 1998 Phone '99 Rank Name Fax...

Software Developers.(Statistical Data Included)
December 24, 1999... Software Developers RANKED BY 1998 REVENUE Phone Name Fax Rank...

Cell Phone Dealers.(Statistical Data Included)
December 24, 1999... Cell Phone Dealers RANKED BY TOTAL NUMBER OF CELLULAR CUSTOMERS Phone Name Fax Rank...

Web Page Designers.(Brief Article)(Statistical Data Included)(Directory)
December 24, 1999... Web Page Designers RANKED BY NUMBER OF WEB DESIGNERS Phone Name Fax Rank Address...

Local Phone Companies.(Statistical Data Included)
December 24, 1999... Local Phone Companies RANKED BY LOCAL NUMBER OF EMPLOYEES Phone Name Fax Rank Address ...

Systems Integrators.(Brief Article)(Statistical Data Included)(Directory)
December 24, 1999... Systems Integrators RANKED BY NUMBER OF LOCAL EMPLOYEES Phone Name Fax Rank Address...

Fast 50 Tech Companies.(Brief Article)(Statistical Data Included)(Directory)
December 24, 1999... Fast 50 Tech Companies RANKED BY INCREASE IN SALES 1994-1998 Phone '99 Rank Name Fax '98...

Accounting Firms.(Brief Article)(Statistical Data Included)(Directory)
December 24, 1999... Accounting Firms RANKED BY NUMBER OF LOCAL FULL-TIME EMPLOYEES [*] '99 Rank Phone Full-time '98 Name ...