Wednesday, November 25, 2015

Archive: September, 2010

POSTED: Thursday, September 30, 2010, 12:32 PM
Filed Under: Business Services

About that buyout offer? Never mind.

Amrep Corp.’s largest shareholder said he won’t pursue a buyout of the Princeton-based magazine distributor and provider of other services for publishers.

In a filing with the Securities and Exchange Commission on Thursday, Fort Washington philanthropist and businessman Nicholas G. Karabots withdrew a proposal he made Sept. 8 to buy Amrep for $12 per share.

POSTED: Wednesday, September 29, 2010, 12:41 PM

When it comes to hard evidence about the nation’s economic health, I don’t like measurements of consumer confidence for the same reason I pay little attention to political polls.

They can only tell you which way people think the wind is blowing, not the actual wind speed or if there is any breeze at all.

I realize there’s a statistical rigor to good polling and consistent confidence indexes. But it boils down to measuring what people say they’ll do, rather than what they did, and we all know someone who says one thing and does another.

POSTED: Tuesday, September 28, 2010, 12:14 PM
Filed Under: Pharma, Biotech | Technology

David R. King remembers the groveling he did as an entrepreneur seeking outside investment.

King said he’d about had it on his fourth trip to the Stamford, Conn., offices of Tullis-Dickerson & Co. trying to raise money for the start-up BioRexis Pharmaceutical Corp. back in 2002.

Asked for the umpteenth time why Tullis-Dickerson should invest in BioRexis, which had technology it was applying toward an experimental diabetes treatment, King gave the answer he thinks cinched the deal:

POSTED: Tuesday, September 28, 2010, 11:54 AM
Filed Under: Pharma, Biotech

For the third time in 2010, Endo Pharmaceuticals Holdings Inc. is dipping into its significant cash holdings for a big acquisition.

On Tuesday morning, the Chadds Ford pharmaceutical company announced it is buying Qualitest Pharmaceuticals, a Huntsville, Ala.-based maker of generic drugs, in a cash transaction worth $1.2 billion.

Endo president and chief executive officer David Holveck said in a statement that the purchase is the latest in the company's efforts to diversify its revenue and earnings streams to better "respond to the challenging economics that drive the U.S. health-care environment."

POSTED: Tuesday, September 28, 2010, 11:47 AM
Filed Under: Executive Pay

When it comes to figuring out what to pay someone after the unthinkable happens, Kenneth R. Feinberg is obviously the best.

He must be, because he keeps taking on what seem to be thankless tasks:

* Deciding payments from a $7 billion special- compensation fund set up by Congress for those injured or killed in the Sept. 11, 2001, terror attacks.

POSTED: Friday, September 24, 2010, 2:14 PM

I don't use a printed phone book much anymore, but at least two companies toss new editions each year onto my driveway.

With many online sites available to look up phone numbers, those softcover directories with white and yellow pages get more use raising my computer monitor than as reference material.

Verizon Communications Inc. knows all of that and has been seeking approval in various states to stop automatically delivering the white pages, which are the residential listings of phone numbers. (Your fingers did the walking through the yellow pages.)

POSTED: Thursday, September 23, 2010, 11:47 AM
Filed Under: Economic Development

Show me an office high-rise, and I’ll want to know which companies are in it.

Show me a luxury condominium building, and I’ll want to know how the residents who live there earn their living.

A new report by the Center City District may not name names, but it reinforces how important Philadelphia’s central business district is to the region as a whole. (Read it here.)

POSTED: Wednesday, September 22, 2010, 11:24 AM
Filed Under: Economic Development

Never judge a book by its cover, nor a city by its portrayal in Hollywood movies. That’s what statistics are for.

Would you believe me if I told you some economists classifying U.S. and Canadian cities put Philadelphia in the exclusive-sounding category of “thinking” cities?

Take that, Rocky.

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

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