Archive: November, 2010
It’s only natural to care more about jobs than profits.
But we should take it as another good sign that most of the executives and board members of area companies who responded to a recent survey foresee an increase in profits in 2011.
The results of the November survey by the Audit Committee Institute of KPMG L.L.P. mirror those of its May survey. Of the 71 respondents, 58 percent anticipate a moderate rise in profits, while 15 percent expect a significant increase.
December could be considered the off-season for shareholder meetings.
Spring is when mailboxes bulge with thick proxy statements outlining the elections of directors and complex new incentive-pay plans. Last May, 65 local companies held their annual meetings. They were bracketed by 31 in April and 33 in June.
Entrepreneurs often draw inspiration from the success or failure of other risk-takers.
But without a doubt, it’s much easier to stand before more than 250 businesspeople and deconstruct a triumph than recite what went wrong.
On the face of it, Nathaniel Turner, one of four founders of Invite Media Inc. - which was started in April 2007, while he was in college, and sold to Google Inc. in June 2010 - would seem to be something of an overnight success.
With the increased participation in loan programs through the Small Business Administration over the last two years, there should be an ample number of applicants vying for the agency’s annual Small Business Person of the Year award in the spring.
But you can’t hand out awards without nominations, and the deadline of Dec. 3 is pretty close, an SBA staffer told me last week. This being a government operation, there’s quite a bit of paperwork if you want to make it to the White House for the national awards celebration in May.
Besides Small Business Person of the Year, here are the awards up for grabs for ongoing enterprises: Small Business Exporter, SBA Young Entrepreneur, Family-owned Business, and Entrepreneurial Success.
For a $12.6 billion company, Aramark Corp. sure is quiet about when it has a strong year.
But the Philadelphia food-service provider and uniform-rental company did increase sales for its fiscal year ended Oct. 1 by 2 percent. Not bad in a year when revenue growth has eluded most major companies.
Gimme Credit L.L.C. analyst Vicki Bryan wrote in a note that it was the first time in years revenue was up in all of Aramark’s business segments, even its uniform and career-apparel unit, which she described as “long-struggling.”
Recurring budget woes aside, California has an economy against which all other states are compared.
The state is a magnet for technology talent and an incubator, production line, and even slaughterhouse for industry-changing ideas and products. At $1.7 trillion, its economy is the biggest of the 50 states.
So everyone knows that California is the elephant. But who is the mouse?
Nine small businesses will get funding from Ben Franklin Technology Partners of Southeastern Pennsylvania.
They include firms involved in the medical, energy efficiency and information technology fields.
Here's a list, ranked by size of investment, and some links:
- Green Badge Holdings L.L.C., of King of Prussia, will get $500,000.
- Viridity Energy Inc. , of Conshohocken, will get $350,000.
- Leversense L.L.C., of Newtown Square, will get $300,000.
- Essential Medical L.L.C., of Wayne, will get $250,000.
- Green Power Technologies L.L.C., of King of Prussia, will get $250,000.
- Qlida Diagnostics, of Philadelphia, will get $250,000.
- WizeHive, of Bryn Mawr, will get $250,000.
- Vita Products Inc., of Philadelphia, will get $125,000.
- Neat Co., of Philadelphia, will get $60,000.
An earnings call may seem like an unusual venue to hear about tight school budgets, but not when part of your business is supplying laboratory equipment to classrooms.
Radnor-based VWR International L.L.C. is a global distributor of chemicals, glassware and instruments, and is most sensitive to pains and gains of pharmaceutical industry. But it also has a Science Education business unit that assembles, makes and distributes lab kits for schools that often go along with new textbooks.
Sales for the Science Education segment were $45 million for the third quarter ended Sept. 30, down 4.3 percent from $49.3 million for the same quarter a year ago. That’s tiny next to the $525.6 million in sales generated by its North American Lab unit and the $332.7 million by its European Lab unit.