Philadelphia Business Journal articles from October 1999

Philadelphia Business Journal archives from October 1999

Planning agency: A disappearing act.(Philadelphia's evolution as a place where people increasingly want to live, developers invest and tourists flock is being threatened by a lack of cohesive planning)
October 22, 1999... At stake: Phila.'s future in the post-Rendell era Philadelphia's evolution as a place where people increasingly want to live, developers invest and tourists flock is being threatened by a lack of cohesive planning. While Mayor Ed...

New rules raise merger concerns.(Media mergers and shifting federal rules have left Philadelphia's television market ripe for consolidation)
October 22, 1999... Media mergers and shifting federal rules have left Philadelphia's television market ripe for consolidation, setting the stage for one or more pairs of local stations to become commonly owned. The prospect could have broad implications...

Rating agencies put Sovereign under review.(Two key rating agencies have signaled they will take a dim view of Sovereign Bancorp. Inc.'s plans to raise $1.75 billion to pay for its acquisition of 268 merger-divested branches in four New England states)
October 22, 1999... Two key rating agencies have signaled they will take a dim view of Sovereign Bancorp. Inc.'s plans to raise $1.75 billion to pay for its acquisition of 268 merger-divested branches in four New England states. Both Moody's and Standard &...

Playground humor.
October 22, 1999... A new advertising campaign for the Boys & Girls Clubs of Philadelphia uses a bit of playground humor to inject levity into a subject often cast as gloomy. The campaign, created pro bono by the Philadelphia office of Earle Palmer Brown,...

Two plus years' later.
October 22, 1999... AT&T Corp. Chairman and Chief Executive Officer C. Michael Armstrong is known as a tough negotiator. But he's nothing compared to the Lower Merion Township Board of Commissioners. We say that based on Comcast Corp.'s experience with each....

Striving for synergy.
October 22, 1999... Representatives from a host of city-based organizations will make presentations next week at a three-hour dinner dished out by the Center City Proprietors Association. Not that there isn't plenty to talk about, but how do CCPA organizers...

Sunoco ad contract goes to Tierney.(Brief Article)(Statistical Data Included)
October 22, 1999... Sunoco Inc. awarded its Northeast regional advertising business to Philadelphia's Tierney & Partners, concluding a lengthy review and ending its agency-of-record relationship with the Weightman Group. Tierney was notified of the win Oct....

Acrodyne to move HQ to new Oaks site.(Brief Article)(Statistical Data Included)
October 22, 1999... Acrodyne Industries Inc. the Blue Bell-based manufacturer and installer of television transmission systems, said it plans to move its headquarters to a 60,000-square-foot building it will have constructed in Oaks. The building also will...

USC/Canterbury completes tech deal.(Brief Article)(Statistical Data Included)
October 22, 1999... MEDFORD, N.J. -- Canterbury Information Technology Inc. said its new, wholly owned subsidiary, USC/Canterbury Corp., has completed the acquisition of U.S. Communications Inc. from Condor Technology Solutions Inc. for $900,000 of Canterbury...

CORRECTION.(Brief Article)(Statistical Data Included)
October 22, 1999... Timothy M. Casey was misidentified in a caption in the Oct. 15-21 issue. He is the president of Montgomery Hospital.

Biotech pioneer to form new firm.(Brief Article)(Statistical Data Included)
October 22, 1999... Hubert J.P. Schoemaker, who many consider the father of the region's biotechnology industry, is at it again. Earlier this month, Johnson & Johnson completed its $4.9 billion acquisition of Centocor Inc., the Malvern-based biotechnology...

From books to Beyond.(Statistical Data Included)
October 22, 1999... Spinning out Net textbooks for students ARDMORE -- A former Safeguard Scientifics Inc. executive has launched a company that uses the Internet to create the cyberspace equivalent of text books for middle and high-school students. ...

Filling Rhone's HQ may be a quick deal.(Brief Article)(Statistical Data Included)
October 22, 1999... COLLEGEVILLE -- Now that Rhone-Poulenc Rorer Inc. has decided to relocate its U.S. headquarters to New Jersey, several, pharmaceutical companies have begun to eye its sprawling research. campus to set up their own operations. The...

Iowa firm to sell its city office buildings.(Brief Article)(Statistical Data Included)
October 22, 1999... Principal Financial Group, an insurance and financial services company, is divesting itself of its Center City office buildings in a move to concentrate on its suburban Philadelphia investments. If the sale of one of the company's...

Business incubator gets Internet training grant.(Brief Article)(Statistical Data Included)
October 22, 1999... Ben Franklin Tech Partners involved A West Philadelphia business incubator has received a $600,000 grant from the U.S. Department of Commerce to create a high-speed communications network that will enable entrepreneurs to receive online...

Ad shop CEO quits.(Frank J. Keel of MRO Advertising.)(Statistical Data Included)
October 22, 1999... BALA CYNWYD -- Frank J. Keel has resigned as president and chief executive officer of MRO Advertising, citing major differences with his partners over the direction of the agency. Executives with MRO, formerly McAdams, Richman & Ong, said...

Peco nuclear unit wins plant bid.(Brief Article)(Statistical Data Included)
October 22, 1999... Peco Energy Co.'s nuclear venture has won the battle for ownership of a major New England power plant, besting a Southern utility that made an unexpected bid. Owners of the Vermont Yankee nuclear power plant last week accepted a $23.5...

Premier Research will link 400 cancer sites.(Brief Article)(Statistical Data Included)
October 22, 1999... Premier Research Worldwide Ltd. expects to collect $9.5 million over the next five years in a deal to connect, by means of the Internet, 400 investigation sites taking part in a worldwide study of a new cancer drug. The Center City-based...

Mags put dispute aside.(Men's Health, Men's Fitness)(Brief Article)
October 22, 1999... Rodale Press of Emmaus, publisher of Men's Health magazine, has settled its legal dispute with a California company over alleged similarities between the covers of their competing titles. Weider Publications, publisher of Men's Fitness...

Aetna seeks to dismiss payment suit.(Brief Article)
October 22, 1999... Aetna U.S. Healthcare is seeking to dismiss a closely watched proposed class-action lawsuit over its payment practices, contending that it is under no obligation to reimburse doctors within a specified period. During a hearing last week...

City historical group settles modern suit.(Brief Article)
October 22, 1999... A Philadelphia organization dedicated to events of the past has resolved a legal dispute over a decidedly contemporary issue. Independence Hall Association, the local historic preservation and educational group, has settled a lawsuit in...

And 1 slam dunks on atmosphere at its new HQ.(Brief Article)(Statistical Data Included)
October 22, 1999... And 1 is pushing traditional limits with the design of its new corporate headquarters. With the help of The Hillier Group, the big downtown architectural firm, the all-things basketball company has devised a different way, to promote its...

Commission counting e-commerce businesses.(includes other news)(Brief Article)(Statistical Data Included)
October 22, 1999... You want e-commerce companies? We got e-commerce companies. The Mayor's e-Commerce Commission will use different phrasing, of course. But that's pretty much what it's going to report on its efforts to track down the number of local...

Old Navy and more headed for Market East.(Philadelphia, Pennsylvania)(Brief Article)(Statistical Data Included)
October 22, 1999... The long-planned retail renaissance of Market Street East may finally be getting a shot of adrenaline -- starting with a snazzy new Old Navy in a highly visibly Gallery II location at 10th and Market streets. Confirming the negotiations,...

First Penn is born out of `Fumo's bank' merger.(merger of First Bank of Philadelphia with PSB Bancorp. Inc.)(Brief Article)(Statistical Data Included)
October 22, 1999... PSB Bancorp. Inc. has closed its acquisition of First Bank of Philadelphia, almost seven months after the deal was announced. The merged institutions will run a commercial bank called First Penn Bank, a seven-branch subsidiary of the $251...

Telecom, airline industries behind on Y2K.
October 22, 1999... Telecommunications companies like MCI WorldCom may be on the cutting edge of technology, but they're lagging behind in dealing with the Year 2000 computer glitch. That's the verdict of Weiss Ratings Inc., which bases its Y2K readiness...

Electro-sigs.(legislation to lend legal authority to digital signatures)(Brief Article)(Statistical Data Included)
October 22, 1999... Digital signatures may soon have the same legal authority as handwritten ones, but paper documents aren't museum pieces yet. The House Judiciary Committee approved a bill Oct. 13 that calls for a national standard for electronic...

Against 'cybersquatters'.(legislation against unfair domain name registration)(Brief Article)
October 22, 1999... The House Judiciary Committee unanimously approved legislation that would make it easier for owners of trademarks to take legal action against "cybersquatters" who steal their names for Web sites. There currently is no law against people...

AHA chief tells hospital bigwigs to reconnect.
October 22, 1999... American Hospital Association President Richard J. Davidson is urging hospital chief executive officers to "reconnect with their communities." Davidson, the keynote speaker at the Delaware Valley Healthcare Association's annual meeting...

CEO Portrait.
October 22, 1999... Lois Trench-Hines Personal information Name: Lois Trench-Hines Title: President/CEO Company: Meniscus Ltd. in Bala Cynwyd Type of company: Medical publisher with two divisions: Meniscus Health Care Communications and...

Finding, Solutions.
October 22, 1999... Solutions Network competes in the HR realm by keeping things virtual For a man who left behind the traditional ways of "bricks and mortar" consulting firms, Richard J. Anthony still maintains their old-school professionalism. ...

PEOPLE.
October 22, 1999... AWARDS & ACHIEVEMENTS Adrian Castelli, partner at JKST Inc., was appointed president of the board of trustees of the Riverbend Environmental Education Center, Gladwyne. Clariti Telecommunications International Ltd., Philadelphia:...

Norton to pursue deal with Furon of Calif.
October 22, 1999... VALLEY FORGE -- Norton Co., a subsidiary of Compagnie de Saint-Gobain, said that it will move forward with its acquisition of Furon Co. of Laguna Niguel, Calif., now that the required government waiting period has passed. The...

K-Tron reports Increased earnings.
October 22, 1999... PITMAN, N.J. -- K-Tron International Inc. reported a 7.8 percent increase in third quarter earnings, pushing diluted earnings per share to 55 cents from 51 cents during the same period last year. Income and earnings also climbed during the...

Cold-Eeze maker to destroy copycat.
October 22, 1999... DOYLESTOWN -- The Quigley Corporation, manufacturers of Cold-Eeze zinc lozenges, won a court order to destroy a competing product manufactured by J-Labs Inc. of Tampa, Fla, and its successor, Dynamic Health Products Inc. A judge ruled...

Hoechst Schering forms collaboration.
October 22, 1999... EXTON -- Hoechst Schering AgrEvo of Frankfurt, Germany, has formed a collaboration with 3-Dimensional Pharmaceuticals Inc. under which AgrEvo will use the Chester County company's DirectedDiversity technology to discover and refine...

Fate of projects left unclear.
October 22, 1999... Various deals are in question Few Philadelphians disagree that Mayor Ed Rendell is one great salesman. But proponents of a stronger Planning Commission question whether the city's chief sales representative could have done even...

Developers bemoan lack of planning.
October 22, 1999... The risk, they say, is left to them alone In 20 years of doing business in Philadelphia, real estate developer Ron Caplan has never -- not once -- had a conversation with anyone from the Philadelphia City Planning Commission. Caplan,...

Weak Planning Commish creates conflicts citywide.
October 22, 1999... An alphabet soup of competing interests The Philadelphia City Planning Commission thought it was extending a professional courtesy by withholding an opinion on the Central Philadelphia Development Corp.'s controversial proposal to revamp...

Planning becomes a priority for Pittsburgh.
October 22, 1999... Like Philadelphia, Pittsburgh's city government and Department of City Planning had not completed a plan for its central city and its "Golden Triangle" area for years. Thirty-five years, in fact. "The Pittsburgh Downtown Plan: A...

Will planning change under the next mayor?
October 22, 1999... Candidates offer differing views Blame the feds. That's the line towed by Mayor Ed Rendell for the crisis faced by American cities, It's also Barbara Kaplan's rationale for the lackluster reputation of city planning as a profession....

Collegeville area to lose 1,650 jobs.
October 22, 1999... As a result of the merger of its parent company with Hoechst AG of Germany, French pharmaceutical company RhonePouleno Rorer is closing its Upper Providence facility, and eliminating or relocating 1,650 jobs. Rhone-Poulenc is closing the...

Coming to Penn's Landing.
October 22, 1999... The Simon Property Group announced a partial list of tenants for its $174 million development at Penn's Landing, including toy-store FAQ Schwarz, Borders bookstore and Jillian's, a bowling and arcade center. The project, which will be...

American Home setback.
October 22, 1999... American Home Products Corp. said it will withdraw its rotavirus vaccine from the market. The antidiarrheal vaccine, out of the company's Wyeth-Lederle Vaccines unit in St. Davids, is suspected of causing bowel obstructions in babies. The...

American Water Works buy.
October 22, 1999... Voorhees, N.J.-based American Water Works Co. agreed to buy Citizens Water Resources for $745 million and $90 million in assumed debt. Citizens Water is a unit of Citizens Utilities Co. of Stamford, Conn., that provides water and wastewater...

U.S. Bioscience suspends study.
October 22, 1999... U.S. Bioscience Inc. of West Conshohocken suspended its clinical testing of lodenosine, an HIV treatment, following a recent patient death and other "serious adverse events" that affected patients taking the experimental drug. Company...

Unit of Peco goes on spree.
October 22, 1999... Exelon Infrastructure Services Inc. of Philadelphia, a unit of Peco Energy Co. that sets up poles, wires and transformers for utilities and telecommunications and cable companies in the Northeast and Midwest, acquired five utility-service...

Cottman sold to group.
October 22, 1999... A group of senior executives of Cottman Transmission joined with Sentinal Capital Partners to buy the Fort Washington-based transmission repair company for $50 million from a group of private shareholders. The senior executives, led by...

Reorganization approved.(for Germantown Home)(Brief Article)
October 22, 1999... Germantown Home, an assisted living and nursing home facility that filed for bankruptcy protection in March facing $25 million in debt, obtained the approval of its unsecured trade creditors for a reorganization plan. The plan will give the...

Centocor seeks Remicade OK.(Brief Article)
October 22, 1999... Malvern-based Centocor Inc. submitted a supplemental biologics license application to the Food and Drug Administration seeking marketing approval for Remicade as a prevention of joint damage in patients with rheumatoid arthritis. More than...

Tax abatement bill makes good sense.(Brief Article)
October 22, 1999... Philadelphia and state lawmakers should give an unreserved thumbs-up to a proposed law that would give real estate developers a 10-year tax abatement on new construction in the city. Such an abatement is already available to developers...

Drama at the dry cleaners.(story of an automobile accident)(Brief Article)
October 22, 1999... The small older dude looked as mad as a bee in a jar as he crossed the street toward where I was leaning against a post in front of a strip shopping center. In his 70s, he had sparse gray hair oiled down with Brylcreem like he used to wear...

A new male mystique -- he shops.(Brief Article)(Column)
October 22, 1999... Men have never had it so bad, Or, to put it in the idiom of Susan Faludi's book on the betrayal of the American man, men have been "stiffed." Men, according to this thesis, have become hollow "ornaments," all dressed up with nothing to...

Let's pause and recall Wilt's other statistics.(Wilt Chamberlain)(Brief Article)(Column)
October 22, 1999... Three of my male colleagues, sitting stunned at their desks, tried to process emotionally the shocking news that Wilt Chamberlain was dead. They turned to each other to reminisce about the retired basketball star. It was a classic moment...

From the newsroom.(Philadelphia Business Journals top 100)(Brief Article)
October 22, 1999... The 11th year of the Philadelphia 100--our annual ranking of the region's fastest growing private companies -- reflects some of the sweeping changes in the local economy. The listing is dominated by the service industry. Of course, the...

Service takes over much of Phila. 100.(Illustration)(Statistical Data Included)
October 22, 1999... The area's fastest-growing companies experience slowing of growth in revenue Service companies dominated the Philadelphia 100 this year like never before, claiming 85 coveted spots on the annual inventory of the region's fastest-growing...

Apex Financial recruits, reaps reward.(Brief Article)
October 22, 1999... Attention job seekers: If you are three to five years out of school, with a decent background in finance or information technology, Mark Taplinger and Bill Herrmann would like a word with-you. Have you ever considered a career as a full-...

Brew HaHa! charges ahead with growth.(Brief Article)(Company Profile)
October 22, 1999... For more than a decade Alisa Lippincott has craved the pleasurable punch of a double espresso. Lippincott claims she was so addicted that on a camping trip to the Blue Ridge Mountains, she carted along an espresso machine. "It got to the...

Skipping Stone plugs into energy deregulation.(profile of energy consultants Skipping Stone Inc.)(Brief Article)(Company Profile)
October 22, 1999... Two stories are told about the name of the energy consulting firm Skipping Stone Inc. One is appropriate for a business meeting. The other is true. The one fit for telling in a boardroom has the name arising from its metaphorical...

IQ Group focuses on e-business.(Brief Article)
October 22, 1999... When Michael J. Korsky founded Info-Quest Group Inc. in 1993, systems integrators got a lot of their money from selling hardware to their clients. "I felt at the time that that was the wrong way to go," he said. "I thought that the right...

As airline fleets age, Innovative flies high.(Innovative Solutions and Support Inc.)(Brief Article)(Company Profile)
October 22, 1999... The English language gets a lot of abuse in the business world. You don't "install" software but "implement" it. You don't buy "services" or "equipment," you buy "solutions." So when Geoffrey S.M. Hedrick, chairman and CEO of Innovative...

Complete Care grows in competitive field.(Complete Care Services L.P.)(Brief Article)(Company Profile)
October 22, 1999... Target population is aging, even in prison HORSHAM -- When the federal Medicare program changed the way it paid long-term care facilities, the impact was swift and severe. "It hit like a lighting bolt out of the sky," said Peter J....

A heavyweight in the weight loss business.(LA Weight Loss Centers)(Buyers Guide)(Company Profile)
October 22, 1999... Weight loss may be a problem for a lot of Americans, but Vahan A. Karabajakian relishes every excess pound. Since founding LA Weight Loss Centers with a $30,000 investment in 1989, his weight-loss counseling service has become a $38...

Shared Equity growth fueled by equity sharing.(Shared Equity Strategies Inc.)(Brief Article)(Company Profile)
October 22, 1999... If things had been a little easier in the grocery business in the 1980s, Shared Equity Strategies Inc. might never have gotten off the ground. Two leaders of the nine-person legal and consulting firm met through a venture aimed at...

Fastest Growing Privately Held Companies.(list)(Statistical Data Included)
October 22, 1999... Fastest Growing Privately Held Companies RANKED BY PERCENTAGE GROWTH IN REVENUE, 1996-1998 Phone Name ...

Brokering, investing at Mallin Panchelli.(Mallin Panchelli Wentworth Realty)(company history)(Brief Article)
October 22, 1999... After spending a combined 35 years with the same real estate brokerage, Ken Mallin and Russ Panchelli called it quits. It wasn't for long, though. The two were able to pull together $100,000 and set up shop in a tired building on the...

For Apex, it's location, bandwidth, location.(Apex Site Management Inc.)(company profile)(Brief Article)
October 22, 1999... For Apex Site Management Inc., opportunity knocked thanks to regulatory changes in the telecommunications industry. Specifically, the Telecommunications Act of 1996 opened competition for local phone service and made it possible for...

Gardner/Fox: Unusual in remodeling field.(Brief Article)
October 22, 1999... The business, of home remodeling remains fragmented -- an industry not so much of mom-and-pops as one-man bands. There are few barriers to entry -- a pickup truck and a tool box may be all that's required. So, it's not surprising that...

The Phila. 100 by alphabetical order.(lists Philadelphia companies)(Brief Article)
October 22, 1999... The Phila. 100 by alphabetical order America's Choice Healthplans #58 American Furniture Rentals 97 Analytical Graphics Inc. 81 Apex Financial Search 2 Apex Site Management 5...

The Phila. 100 by employees.(lists Philadelphia companies)(Brief Article)
October 22, 1999... The Phila. 100 by employees Complete Care Svcs. 851 LA Weight Loss Centers Inc. 660 Cybertech Systems Inc. 600 Sharp Technical Services 450 CoreTech Consulting Grp. 432...

The Phila. 100 by 1998 sales.(lists Philadephia companies)(Brief Article)(Statistical Data Included)
October 22, 1999... The Phila. 100 by 1998 sales Complete Care $78,912,197 Legend Healthcare $59,361,000 Cybertech Sys. $51,904,376 CoreTech Consult. $41,726,425 Westrum Dev. $38,890,140 LA Weight...

The Phila. 100 by year founded.(lists Philadelphia companies)(Brief Article)
October 22, 1999... The Phila. 100 by year founded CompuData Inc. 1973 American Furniture 1975 Movers Specialty Scvs. 1978 Collaborations Inc. 1979 Charon Planning Corp. 1981 DEI ...

The Phila. 100 by start-up capital.(lists Philadelphia companies)
October 22, 1999... The Phila. 100 by start-up capital Gateway Funding $1,200,000 Fiberlink Comm. 1,000,000 Apex Site Management $750,000 Complete Care Svcs. $750,000 IriScan Inc. ...

Peco merger plans spark rate cut call.(Peco Energy Co.'s merger with Unicom Corp.)(Statistical Data Included)
October 8, 1999... Pennsylvania's consumer advocate plans to try to extract concessions from Peco Energy Co. that could cut the cost savings the company expects, in its pending merger with Chicago s Unicom Corp. Setting the stage for what promises to be a...

Keystone Mercy cuts drug deal.(Keystone Mercy Health)
October 8, 1999... Keystone Mercy Health plan, the region's dominant Medicaid HMO plan, is planning to terminate its contract with a pharmacy benefits manager in favor of administering the program itself. The move was well received by area drugstore...

Vacant high-rise finds buyer.(Four Penn Center)
October 8, 1999... The sale of Four Penn Center could be done by year-end Four Penn Center, a 20-story tower that has languished for several years as an empty shell, may be sold to a development company that plans to spends millions transforming it into a...

Sunoco gas ads in dispute.
October 8, 1999... Sunoco Inc. has found itself mired in a protracted legal battle over allegedly misleading ads promoting its premium gasoline. The Pennsylvania Superior Court, providing the latest twist in the dispute, last month reversed a Common Pleas...

Ad agency EPB bumps out local GM.(Earle Palmer Brown replaces general manager Carl D. Teitelman)
October 8, 1999... Earle Palmer Brown has replaced the general manager of its Philadelphia office following a turbulent stretch for the advertising agency's local operations. David Haan, who became general manager of the office in March 1998, was succeeded...

Graham raises $150M.(Graham Partners Investments LP)(Brief Article)(Statistical Data Included)
October 8, 1999... WAYNE - Launched last fall, Graham Partners Investments LP has closed on commitments from outside investors that have brought its size to nearly $150 million. It expects to be able to attract enough investors to enable it to top the $200...

Wireless firm seeks CEO, new markets.(InterDigital Communications)(Statistical Data Included)
October 8, 1999... KING OF PRUSSIA - InterDigital Communications stock isn't about to show up on a list of big gainers. The company recently saw its president resign. And it's been without a CEO since three summers ago. Still, its executives say...

Energy companies fight over power pool.
October 8, 1999... Trade group appeals federal ruling Independent energy companies are once again doing battle against the so-called incumbent utilities, this time over access to the power pool that supplies the r region. The Mid-Atlantic Power Supply...

It's Destiny: shorter name, new direction.(Destiny Software)
October 8, 1999... CONSHOHOCKEN - Destiny Software has a new name and a new focus. Now just Destiny, it no longer develops its own Internet software for financial institutions, such as banks and credit-card companies. Instead, it offers every service...

Report: Provident Mutual still not fully Y2K-ready.(Provident Mutual Life Insurance Co.)
October 8, 1999... Provident Mutual Life Insurance Co. is lagging behind industry peers in preparing for possible year 2000 complications, a rating agency warned this week. Weiss Ratings Inc. of Palm Beach Gardens, Fla., surveyed 1,069 insurance companies...

Unisys seeks to recover Y2K cost, heads to court.
October 8, 1999... A 17th century law comes into play Unisys Corp. has sued its insurers to recover the costs of making computer systems immune to problems caused by the millennial date change. The Blue Bell-based systems manufacturer is wielding a...