Tuesday, September 16, 2014
Inquirer Daily News

Investing, Markets

POSTED: Tuesday, July 14, 2009, 2:09 PM

CardioNet Inc. has called off its acquisition of Biotel Inc. one day before shareholders were poised to vote on the $14 million deal.

Minneapolis-based Biotel made the announcement today, saying that Conshohocken-based CardioNet "is terminating the Merger Agreement with Biotel due to a failure of Biotel to comply with the terms of the agreement."

In a statement, Biotel said it considering its legal options and that it "believes it has complied with all terms of the agreement."

POSTED: Friday, June 19, 2009, 2:30 AM

In 2008, Pfizer Inc. was hunting for a big acquisition and targeted Wyeth.

But after meeting with Pfizer’s CEO one year ago today, Wyeth’s Bernard Poussot did not exactly embrace the idea of combining with the world’s biggest drug company.

How do I know? Those details and more are contained in a document filed with the Securities and Exchange Commission yesterday about Pfizer’s $68 billion acquisition of Wyeth, which employs 4,700 in our area.

POSTED: Wednesday, May 13, 2009, 2:30 AM

Two small health-care companies apparently don’t expect the “green shoots” of an economic recovery to improve their individual circumstances.

Encorium Group Inc. and Genaera Corp. are in various stages of dismantling.

Yesterday, Encorium, a Wayne-based clinical research organization, said that its management and board had decided to sell its U.S. and European operations to two separate, unidentified buyers. Encorium runs clinical trials for pharmaceutical companies.

POSTED: Thursday, May 7, 2009, 2:30 AM
Filed Under: Investing, Markets

Back in October, as the markets went haywire, I wrote about what I was doing with my investments.

I did so because people kept asking me. It was a time of panic with the Standard & Poor’s 500 index falling 38 percent for the year. People wanted to know whether they should buy, sell, hold or fold.

Now, as a business journalist, I don’t give advice and I don’t invest directly in stocks or bonds. But as a wage slave, I do save for retirement in my company’s 401(k) plan using mutual funds. And my response last fall was that I hadn’t changed a thing.

POSTED: Monday, May 4, 2009, 2:25 AM
Filed Under: Investing, Markets

Savings bond investors, and you know who you are, I hope you didn’t get too used to earning more than 5 percent on your money.

If you held a Series I savings bond between Nov. 1 and April 30, you were getting a gaudy 5.64 percent. Quite a return for a bond whose rate adjusts with changes in inflation.

I know, what inflation, right?

POSTED: Monday, April 27, 2009, 2:30 AM

Businesses generally aren’t clamoring to set up shop in Philadelphia.

But more than 300 start-ups from all over the country were ready, willing and eager to spend this summer in West Philadelphia to be part of a “business accelerator” program.

DreamIt Ventures held its inaugural “boot camp” for entrepreneurs last year. It was three months of intense work for 11 companies that holed up in donated space at the University City Science Center.

POSTED: Wednesday, April 15, 2009, 1:10 PM

Procter & Gamble Co. will get well-deserved attention for increasing its dividend by 10 percent. The consumer products company has done so for 53 years in a row. That's a remarkable run.

And it comes at a time when many companies are trimming or eliminating dividends.

But it's one thing for a blue-chip company to boost its dividend in a weak economy, and quite another for a small company like Healthcare Services Group Inc. to do so.

POSTED: Wednesday, March 11, 2009, 2:30 AM

Moody’s Investors Service has a new list that no company wants to be on.

Called the Bottom Rung, it includes U.S. companies at high risk of default on their debt. The New York credit rating agency yesterday said it had 283 companies compared with 157 a year ago.

These are companies that have issued debt that is below investment grade. Moody’s says more than 23 percent of all U.S. speculative-grade companies are on its Bottom Rung list, up from 9 percent two years ago.

About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

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