Philadelphia Business Journal articles from November 1999

Philadelphia Business Journal archives from November 1999

Unions invest $200M in Phila. hotels.(Philadelphia, Pennsylvania)(Brief Article)(Statistical Data Included)
November 26, 1999... Union leaders, banking on the booming hospitality industry to fuel the city's construction trade, have committed more than $200 million in pension funds to area hospitality projects and are ready to invest even more. "The hospitality...

Y2K creates rush to close real estate.(Brief Article)(Statistical Data Included)
November 26, 1999... Very little will get done in final days of '99 The last two weeks of the year are expected to be unusually quiet in the real estate business, a switch from the normal mad rush to close deals before year's end. It's not because...

Wills Eye to sell hospital, build another.(Brief Article)(Statistical Data Included)
November 26, 1999... Wills Eye Hospital plans to sell its 120-bed Center City hospital to neighboring Thomas Jefferson University and build a smaller, $40 million facility across the street. "The major agreement is all done, but we still have some minor...

Ringing through: @IPBell.(data network under development)(Brief Article)(Statistical Data Included)
November 26, 1999... $50 million effort under way to set up global network CHERRY HILL -- Nine months ago, its stock was booted off the Nasdaq. Today, Science Dynamics Corp. has emerged as the leader of an effort by some technology giants to launch an...

K-Tron to close Swiss manufacturing site.(Brief Article)(Statistical Data Included)
November 26, 1999... PITMAN, N.J. -- In a move that calls for the elimination of 20 employees, K-Tron International Inc. plans to combine its K-Tron Soder and Hasler brand operations into one feeder business. The 25 percent reduction in the company's work force...

GreenMountain.com files for N.J. license.(New Jersey)(Brief Article)
November 26, 1999... GreenMountain.com, formerely Green Mountain Energy Resources, filed a supplier license application with the New Jersey Board of Public Utilities. But the South Burlington, Vt., company, which is among the leading independent suppliers in...

Electronics Boutique to offer shares.(Brief Article)(Statistical Data Included)
November 26, 1999... WEST CHESTER -- Electronics Boutique Holdings Corp. has registered to hold a secondary offering of 3.5 million shares of its common stock at $21.375 per share. The video- and computer-game retailer will sell 2 million shares; EB Nevada Inc....

Peco: Keep rates out of deal review.(Peco Energy Co. hopes utility rates not a factor in pending merger with Unicom Corp.)(Brief Article)(Statistical Data Included)
November 26, 1999... Utility says PUC precedent backs its contention Peco Energy Co., rebuffing consumer advocates, signaled this week that it hopes to avoid a debate over electricity rates until well after the Public Utility Commission approves its proposed...

Ready, set, sell!(three new hotels to open in Philadelphia, Pennsylvania)(Statistical Data Included)
November 26, 1999... Luxury hotels entering the home stretch The Hotel Sofitel is going the sexy route. Loews Hotel is banking on retro swank. And the Ritz-Carlton, well, it has that grand dome and tons of imported marble. All three hotels, in their...

Latino therapy provider to extend its reach.(La Fortaleza Physical Therapy Centers to open centers outside of Philadelphia, Pennsylvania)(Brief Article)(Statistical Data Included)
November 26, 1999... Five years ago, Carmen and Jose Rivera formed their La Fortaleza Physical Therapy Centers to provide rehabilitation services to Philadelphia's Latino population. Today, they're gearing up to stretch beyond the city's borders. The...

Netreach hopes to raise $8M, expand.(Brief Article)
November 26, 1999... AMBLER -- With a merger and private placement under its belt, Internet service provider Netreach Inc. is looking for other possible partners and planning for a venture funding en route to a possible initial public offering. Not bad for a...

White House opposed to paperwork bill.(Small Business Paperwork Reduction Act Amendments of 1999)(Brief Article)
November 26, 1999... The Clinton administration is opposed to the Small Business Paperwork Reduction Act Amendments of 1999, which passed the House earlier this year and awaits action in the Senate. The bill's civil penalty waiver "essentially provides one...

New corporate banker on the block bulks up.(National City Corp.)(Brief Article)
November 26, 1999... National City Corp. has beefed up its operation to more than 20 lenders in its new Philadelphia corporate banking venture, and more are on the way. Charles Coltman 3rd, the former top echelon CoreStates Financial Corp. executive who's...

Developer steadfast in vision for old mill.(Walter J. Logan Jr. of The Delta Organization Inc.)(Brief Article)
November 26, 1999... PHOENIXVILLE -- Walter J. Logan Jr. believes he's back on track with big plans for the old Phoenix Steel Co., now a barren plain with few traces of its industrial hey-day more than a century ago. Logan has had big plans before:...

Love that song! What is it? Call [CD.sup.*] to find out.(Connexus Corp. names that tune)(Brief Article)
November 26, 1999... Connexus Corp. is getting wired and going global. The Berwyn-based company, founded by 30-something Harvard University classmates George Searle and Humphrey Chen, debuted its *CD service in May. The service allows Cellular One customers...

Osteopathic study: Treatment cuts pain.(Brief Article)
November 26, 1999... The Philadelphia College of Osteopathic Medicine has produced what it is calling the first study that provides "objective data" demonstrating how osteopathic manipulative treatment, or OMT, can reduce pain after surgery. OMT focuses on...

Penn's Landing Hyatt finalizes its financing.(Brief Article)
November 26, 1999... Financing for the $63 million Hyatt Regency at Penn's Landing is finally in place and construction can now move forward. And yes, that was a collective sigh of relief you heard from Penn's Landing Partners, who have weathered their share...

Peco'S Byrnes slotted for board of national group.(Gregory R. Byrnes)(Brief Article)
November 26, 1999... The National Association of Corporate Real Estate Executives has named Peco Energy Co.'s Gregory R. Byrnes to its board of directors, making him the first utility and economic development official in that post. Byrnes, director of...

Quaker mutual funds sale nears completion.(to eVision USA.com Inc.)(Brief Article)
November 26, 1999... Deal with eVision will heighten distribution Quaker Funds Inc. is getting down to the fine points of its deal with the American broker-dealer subsidiary of a Hong Kong-based holding company. The proposed sale of a majority interest...

Many businesses to fix Y2K bug after it hits.(year 2000)(Brief Article)
November 26, 1999... Up to 500,000 small businesses have decided to wait until Jan. 1 to see if they have any Year 2000 computer problems, figuring they can address any glitches after they occur, says the White House's Y2K czar. This "fixing on failure"...

Y2K staffing plans.(year 2000)(Brief Article)
November 26, 1999... The Society for Human Resource Management finds it "alarming" that 44 percent of the businesses it surveyed have no contingency plans for Y2K problems around the New Year's holiday. Only 39 percent of the human resource professionals...

Franchise relationships.(the Small Business Franchise Act reintroduced to Congress)(Brief Article)
November 26, 1999... Legislation aimed at protecting franchise owners from being abused by franchisors was reintroduced by Rep. Howard Coble (R-N.C.). The Small Business Franchise Act, which failed to pass Congress last year, would establish standards of...

Injury prevention programs.(response to ergonomics survey)(Brief Article)
November 26, 1999... Employers with ergonomics programs are less likely to have high rates of repetitive motion injuries, according to a survey of large companies in the manufacturing, transportation/communication, health and business services, and...

CEO Portrait.(Darryl J. Fisher)(Brief Article)
November 26, 1999... Personal Information Name: Darryl J. Fisher Title: President and CEO Company: Reed Technology and Information Services Inc. of Horsham Type of company: Development, maintenance and design of large databases for publishing...

Surviving by changing gears.(Nelson and Associates moves towards facilities management services)(Brief Article)
November 26, 1999... Nelson & Associates found its niche by reinventing itself A mid the economic downturn of the early 1990s Nelson & Associates found an opportunity. John J. Nelson, founder and president of the 21-year-old architecture and interior...

Seeing the Big Picture.(the role of a specific position in a company)(Brief Article)
November 26, 1999... Seeing how your job fits the larger scheme To be able to take initiative in your job you first need to see how you and your job relate to the larger scheme of things at work. In most jobs this role is not explained explicitly, so you...

PEOPLE IN THE NEWS.(executive appointments and awards in Philadelphia area)
November 26, 1999... * AWARDS & ACHIEVEMENTS Albert Einstein Healthcare Network, Philadelphia: Samuel L. Frieder, president/CEO of S. Frieder & Sons, was elected chairman of the board of trustees and the board of overseers; Arnold M. Katz, founder/president...

Condition report: Ad biz fueled by dot.coms.
November 26, 1999... With few exceptions, the region's marketing firms and media operations have been thriving this year, fueled by the strength of the economy and the rise of dot.com advertisers. Companies born of the online world are increasingly populating...

Amid circulation drops, PNI focuses on long run.(Philadelphia Newspapers Inc.)
November 26, 1999... There was a time, not so long ago, when the Philadelphia Inquirer offered readers much more than news, features, commentary and sports. Like a chance to win a Lamborghini. Or a Rolls Royce. Not to mention free gasoline for a year. It...

Advertising Agencies.(Philadelphia-area)
November 26, 1999... Advertising Agencies RANKED BY LOCAL FULL-TIME EMPLOYEES '99 Rank Name '98 Rank Address 1. Tlerney & Partners Inc. [1] 200 S. Broad St. Philadelphia, Pa. 19102 ...

Two PR shops combine forces -- up to a point.(Star/Rosen Public Relations and IPR)(Brief Article)
November 26, 1999... Star/Rosen Public Relations of Cherry Hill and a big-city consulting firm have formed a rare alliance through which they will pool their resources, work for each other's clients, and collectively seek new business. It's not quite a...

Public Relations Firms.(Philadelphia-area)
November 26, 1999... Public Relations Firms RANKED BY NET FEE INCOME '99 Rank Name '98 Rank Address 1. The Tierney Group [1] 200 S. Broad St. Philadelphia, Pa. 19102 2. ...

Radio Stations.(Philadephia-area)
November 26, 1999... Radio Stations RANKED BY NUMBER OF LISTENERS [*] Phone Name -Fax Rank Address ...

Television Stations.(Philadelphia-area)(Brief Article)
November 26, 1999... Television Stations RANKED BY AVERAGE NUMBER OF PRIME-TIME VIEWERS FALL 1998 [*] Phone '99 Rank Name Fax '98 Rank...

MLC awarded Pa. pacts.(MLC Integrated contracts)(Brief Article)
November 26, 1999... POTTSTOWN -- MLC Integrated said it has been awarded several statewide Pennsylvania Educational procurement contracts from the Pennsylvania Purchasing Program for Microcomputers. MLC said it expects the contracts will produce around $20...

Bionx to offer shoulder implant.(Brief Article)
November 26, 1999... BLUE BELL -- Bionx Implants, a Montgomery County medical device manufacturer, introduced an implant that it claims will repair shoulder instability. The Contour Labral Nail is a cannulated bioresorbable device used to reattach soft...

Utility's filing furthers progress of Peco Energy-Unicom merger.(Brief Article)
November 26, 1999... Commonwealth Edison Co. of Chicago gave notice of reorganization to the Illinois Commerce Commission in the latest regulatory filing related to the proposed merger of its parent company, Unicom Corp., with Peco Energy Co. of Philadelphia....

Year-end deadline questioned by unions.
November 26, 1999... Convention center expansion hinges on work rules, costs While Pennsylvania Convention Center officials may be optimistic new work rules and cuts in costs will be hammered out by year's end, union leaders aren't so sure. "That's very...

Now that's hospitality.(Ahmeenah Young coaches union workers on customer relations)(Brief Article)
November 26, 1999... Ahmeenah Young, waiting for her turn to speak, stood quietly at the front of a room filled with about 150 electrical union workers who turned out in the chilly night for a lesson in hospitality. Turned out some needed the lessons less...

Rite Aid CPA firm quits; SEC starts probe.
November 26, 1999... Rite Aid Corp. said its. accounting firm resigned after saying it could not trust information provided by the drugstore chain. This summer the company said it would restate earnings from the past three years downward by $500 million. In June,...

Cold-Eeze to curtail claims.
November 26, 1999... Quigley Corp., the Doylestown maker of Cold-Eeze products, agreed to stop making claims that the zinc lozenges relieve hay fever and allergy symptoms. The agreement was made with the Federal Trade Commission, which said there was no medical...

Cigna named in lawsuit.
November 26, 1999... Cigna Corp., the Philadelphia health insurance company, was among five HMOs named in class-action suits filed in a federal court in Mississippi this week. The lawsuits. contend that Cigna and the others violated federal anti-racketeering...

More Ace employees to be axed.
November 26, 1999... Ace Ltd., which last summer sold its property and casualty insurance business to Cigna, will cut an additional 1,500 U.S. jobs, though it did not say whether any of the cuts would come locally. In the past six months, the company has cut...

U.S. Bioscience acquired.
November 26, 1999... MedImmune Inc. of Gaithersburg, Md., completed its acquisition of West Conshohocken-based U.S. Bioscience. The biotechnology companies said the merger has an approximate equity value of $580 million - based on 30.5 million fully diluted U.S....

RNC names three top players.
November 26, 1999... A political veteran, a management expert and a media operations specialist have joined the staff of the 2000 Republican National Convention in Philadelphia. Convention Manager Chip DiPaula has named Karen Johnson as assistant convention...

Boeing to compensate workers.
November 26, 1999... Boeing Co. will pay $4.5 million for wage inequities affecting women and minorities in salaried positions at 10 sites, including the helicopter plant in Ridley Township. The contractor also agreed to survey executives about wages at 70 other...

Nobel to expand holdings.
November 26, 1999... Nobel Learning Communities Inc. of Media said it will manage more charter schools and open more specialized schools for learning-challenged children. It also said it will develop an international network of private schools that would use the...

Rendell picked for PhilEx board.
November 26, 1999... Outgoing Mayor Ed Rendell was nominated to the board of the Philadelphia Stock Exchange. But the rest of the board is undergoing a shakeup, with resignations from several directors, including former chairman John J. Egan Jr. and James J....

Pa. sues Global Security.
November 26, 1999... Pennsylvania Attorney General Mike Fisher sued to stop an allegedly illegal scheme to bilk consumers under guise of recruiting "management trainees." The state's suit charged that Global Security Inc. violated consumer protection and...

Phila. Suburban buys III. firm.
November 26, 1999... Philadelphia Suburban Corp. of Bryn Mawr said its Consumers Illinois Water Co. subsidiary completed the purchase of a 4,500-resident water system in the village of-Bradley, Ill., for $976,000

Biotech park is a good investment.
November 26, 1999... Though it's a long shot, the city has made a serious pitch for a genetics research lab that could once and for all put Philadelphia on the biotechnology map, a place where it belongs. The London-based Wellcome Trust, with $19 billion in...

This is America's mayor?
November 26, 1999... What will be the legacy of Ed Rendell, mayor of Philadelphia for the past eight years? How will historians judge his tenure? What will they say in his obituary? A lot of nice things, to be sure. But love him as you might, Rendell, who...

Silent student minority at U.S. colleges.
November 26, 1999... Speaking to college students, especially those self-defined conservatives who are isolated in liberal landscapes at politically correct colleges, is especially rewarding. They really are -- or really can be --the silent minority on campus....

Buchanan, Fulani pact is a big step backward.
November 26, 1999... It is hard to think of a precedent for the odd alliance Pat Buchanan has made with Lenora Fulani, although the Hitler-Stalin pact to carve up Poland comes to mind. Hitler and Stalin were political opposites. But they agreed to work together...

Phila. fails to rank on list of tech hot spots.
November 26, 1999... Is the Philadelphia area a happenin' place for technology? Not according to The Wall Street Journal In an article headlined, "The New Map of High Tech," in its Nov. 23 edition, the paper listed the 13 hottest regions in America for...

Airport makes plans for 21st century hub.
November 19, 1999... Gridlock, constant delays, flights diverted by space constraints and outdated facilities taxed beyond capacity -- that's how Philadelphia International Airport Director Alfred "Fred" Testa Jr. describes his airport operation today. ...

An end to the Ross-Goodman era.
November 19, 1999... For years, there were two ways local entrepreneurs could guarantee they would land the big investment house backing necessary to score a hit on Wall Street. One was to hire Ross and Goodman. The other was to hire Goodman and Ross....

Toll Bros. frustrated by stock tailspin.(Statistical Data Included)
November 19, 1999... HUNTINGDON VALLEY -- Despite recording one of its best years ever, Toll Brothers Inc.'s stock price is trading at nearly half of where it was more than a year ago, sending the luxury homebuilder on the offense to boost investor interest at a...

Farm bible publisher pulls IPO.(Statistical Data Included)
November 19, 1999... Farm Journal Corp., publisher of the bible of American agriculture, has retreated from plans to go public more than a year after planting the seeds for a $35 million stock offering. The venerable Philadelphia company no longer intends to...

Had a shot at a mil, settled for $64,000.
November 19, 1999... LD&B Communications, Nicaragua division? Lucky for Jennifer Mullins and Mike Diccicco, it wasn't to be. Mullins, senior account executive with the Horsham advertising agency, was fortunate enough -- and smart enough -- to win $64,000 this...

President, others leave Integra.(Brief Article)(Statistical Data Included)
November 19, 1999... KING OF PRUSSIA -- The president and four board members of Integra Inc., all with ties to NovaCare founder John Foster and his investment firm, Foster Management Co., have left the company, a provider of managed behavioral health-care...

Lady of Lourdes to cut more positions.
November 19, 1999... CAMDEN -- Our Lady or Lourdes Medical Center announced it's eliminating another 35 positions, effective Nov. 30, because of reduced payment rates for health-care services by the state and federal governments and managed-care companies. ...

Brandywine names chief accounting officer.(Brief Article)(Statistical Data Included)
November 19, 1999... NEWTOWN SQUARE -- Brandywine Realty Trust announced the appointment of Bradley W. Harris as vice president and chief accounting officer. Harris joins Branadywine from Enviresource Inc., in Horsham, where he worked as the controller for...

VerticalNet, Microsoft team up for Internet co-branding.
November 19, 1999... HORSHAM -- VerticalNet Inc., operator of industry-specific Web sites, said it has reached a marketing and co-branding agreement with Microsoft Corp. to promote developers of Windows-based software across six of its sites. Visitors to the...

CORRECTION.
November 19, 1999... The Oct. 22-28 list of the region's fastest-growing private companies included the name of an executive no longer with Apex Site Management. Jeffrey Ginsberg, who was listed as a principal in the firm, left Apex in July. The two principals in...

Unidyne cash-flow woes mount.
November 19, 1999... Its auditor resigns while IRS questions carryback EXTON -- The third quarter capped an already trying year for Unidyne Corp. The Chester County emissions testing equipment maker persisted to lose money, failed to meet certain...

Portal for Mac users attracts investment capital.
November 19, 1999... The operator of a popular Web site on Apple Computer products plans to turn it into a portal for Macintosh users -- a dot.com that his financiers believe has initial-public-offering potential. Jason D. O'Grady, 29, is rolling his sites on...

So. Jersey hospital plans big expansion.
November 19, 1999... WILLINGBORO, N.J. -- A year after being sold by the bankrupt Allegheny health system, Rancocas Hospital is getting ready to begin a $16.5 million expansion -- the biggest building project on the South Jersey hospital's campus in more than two...

Bank, agency call it quits.
November 19, 1999... Sovereign Bank is moving its estimated $5.5 million advertising and public relations account from MRO Advertising, stripping the Bala Cynwyd agency of its biggest piece of business less than a month after it lost its president. Agency...

Tolan named director of Phila. SBA office.
November 19, 1999... After working 18 months in an "acting" capacity, Thomas G. Tolan has been appointed district director for the Philadelphia office of the Small Business Administration. Reporting to Administrator Aida Alvarez, Tolan will be reponsible for...

Neose, American Home to develop carbohydrate.
November 19, 1999... HORSHAM -- Having grown disenchanted with its first collaborator, Neose Technologies Inc. has signed a multimillion-dollar deal with New Jersey-based American Home Products to develop and commercialize a bioactive milk-based carbohydrate for...

Drug company to expand plant, payroll.
November 19, 1999... Global Pharmaceutical Corp. plans to expand its Port Richmond operations and nearly double its local work force in the next two years as part of its planned $120 million merger with a California drug company. In announcing the merger...

Tech organization upgrades Web site.
November 19, 1999... A state economic-development organization based in Philadelphia has undertaken a major retooling and relaunching of the Web site it operates to promote the area's technology companies. Ben Franklin Technology Partners of Southeastern...

Peco gets behind museum.
November 19, 1999... Peco Energy Co. will provide the Franklin Institute Science Museum with a new three-year gift that museum officials are calling "the most comprehensive sponsorship package in the museum's history." Museum and Peco officials declined to...

New report makes predictions on area's future.
November 19, 1999... A new report on emerging real estate trends concludes that Philadelphia has a lot going for it but "somehow falls short of its Northeast neighbors." The city ranked 13th out of 18 major metro markets studied. San Francisco came in first...

Genesis, Multicare ratings are lowered.
November 19, 1999... Moody's Investors Service downgraded its ratings on both Genesis Health Ventures Inc. of Kennett Square and Multicare Companies Inc., citing the reimbursement problems wreaking havoc throughout the nursing home industry. The downgrades...

Comings and goings at SFGT ad agency.
November 19, 1999... SFGT, the Philadelphia advertising agency, has taken on a new partner and unveiled a revised structure following the departure of a longtime executive. Steve Santangelo, a veteran of agencies including Tierney & Partners and the...

Charming Shoppes tries on a 2nd large-size deal.
November 19, 1999... Is Catherines purchase part of a bigger strategy? Is Charming Shoppes' deal to buy its second plus-size chain within a few months part of a strategy to convert itself into a large-size market retailer? Not entirely, says Charming...

Milligan remodels itself; names first two partners.
November 19, 1999... Fifteen years ago, John Milligan, CPA, hung out his shingle. This month, the shingle reading Accounting Firm of John Milligan, CPA, came down, to be replaced by one reading Milligan & Company, LLC. Of course, we're not talking about...

Web site that will cater to the over-50 set.
November 19, 1999... Given that CBS regularly gets mocked for having the oldest viewers of the four major networks, a Web site for people 50 and up would seem to have the commercial potential of New Coke. But area entrepreneur Marvin I. Weinberger thinks such...

Many businesses self-financing expansion.
November 19, 1999... Small businesses continue to feel optimistic about the economy, and many plan to expand over the next three months. That's according to the Small Business Foundation's Optimism Index for October, which fell slightly from September's...

Lack of line officers.
November 19, 1999... Nearly 12 percent of the corporate officers in America's 500 largest companies are women, compared with slightly more than 11 percent last year, according to an annual census conducted by Catalyst, a New York-based nonprofit organization. ...

Pacts to 'hate' groups.
November 19, 1999... If you're going to bid for federal contracts, you better not be tied to the Ku Klux Klan or the Nation of Islam. That's the upshot of a recent U.S. Court of Appeals ruling, which said public officials can question the eligibility of...

Voluntary self-audits.
November 19, 1999... The Occupational Safety and Health Administration is pleased that 85 percent of the 492 employers it recently surveyed conduct voluntary safety audits at their workplaces. In 1981, only 53 percent of employers conducted voluntary self-audits,...