It’s been a long time since Unisys Corp. could say that it had more cash on its books than it owed.
But that was the case as 2010 ended. The Blue Bell information-services provider had cash of $828 million and debt of $824 million. The previous year, Unisys had cash of $648 million and debt of $912 million.
That factoid had escaped my attention when Unisys announced its 2010 financial results Feb. 1. Chief executive J. Edward Coleman made sure to highlight it during a conference call with financial analysts.
To put a face on new statistics about the number of black-owned businesses in the Philadelphia area, I called accountant John Milligan.
First of all, I knew he’d be good with numbers. But also, over the last 25 years, he’s built Milligan & Co. L.L.C. from its base in Center City into an accounting and consulting firm with 52 employees in four offices. So he’s lived these numbers, too.
The U.S. Census Bureau earlier this month released data from its 2007 Survey of Business Owners. On the face of it, the headline numbers reflect well for the state of black enterprise here and across the country.
In the eight years that Therese Flaherty has been running the Wharton Small Business Development Center, she’s seen boom and bust.
The center’s client base has remained pretty consistent at about 600 businesses annually, but their questions and challenges have changed since the brutal recession.
Money, of course, is on the minds of nearly every businessperson, Flaherty said. When they hear that the SBDC has no money to lend to them, that ends the conversation for some of them.
Monday brought a lot of news regarding start-ups.
First, organizers pronounced the first Startup Weekend event held in Philadelphia a hit. This was a local edition of a national program in which hackers, geeks, and other wired individuals spend 54 hours tweaking ideas, building demos, and even launching businesses.
In all, 16 teams presented demonstrations of their weekend of work on Sunday afternoon. The names were all sufficiently quirky. MealTik was described as a homemade food network. (Isn’t that also known as “Mom’s house”?)
It’s been a year since President Obama set a goal of doubling the nation’s exports by 2015.
That would mean going from $1.57 trillion in exports in 2009 to $3.14 trillion five years later, which would be phenomenal unless we double imports at the same time.
However, it’s also unlikely to happen without more small businesses jumping into global markets. After all, how many more Boeing 737s, John Deere tractors, and Caterpillar backhoes can the world absorb?
The swoon may be over for the venture capital industry nationally with the number of deals and the amount invested rising in 2010 for the first time since 2007. But regionally the action was more subdued.
The PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report, released Friday, shows some improvement for an industry that has never returned to the manic heights it reached during the days of Internet Bubble 1.0 in 2000.
The question is: With nosebleed valuations of $50 billion for Facebook and $15 billion for Groupon being bandied about, are we in the middle of another Internet bubble?
Order the coffee and chill the energy drinks. Startup Weekend Philly is almost here.
Most small-business owners probably think every weekend is start-up weekend. But this 54-hour event at the University of the Arts’ Corzo Center on South Broad Street on Jan. 28-30 will be the first local version of a kind of hackathon held around the world since June 2007.
Organizer Brad Oyler assured me participants do get to sleep. These aren’t dance-marathon rules, after all. But if it follows the script of other Startup Weekends, the Philadelphia edition might just produce demo versions of products or services that form the basis of new companies.
If all you knew about InfoLogix Inc. was that it was involved in wireless technology with health-care customers, you might think that would be a recipe for endless growth.
That has not been the path of the Hatboro company, however. Over the last three years, InfoLogix has lost $42.2 million, restructured, refinanced its mounting debt, and finally saw its shares delisted in October.
So why did Stanley Black & Decker Inc. last week strike a deal to buy InfoLogix in a transaction valued at $61.2 million?