Wednesday, July 29, 2015

Business revs up for a new year

With the holidays over, it's back to work as generic drug giant Teva picks a new CEO and Ametek makes a small acquisition.

Business revs up for a new year


The holidays can be a lot of fun, but work is fun too when your job is reporting on all the different ways people find to make money.

The start of a new year is like the start of a new sports season: everyone's full of hope. Whether you can them "resolutions" or "plans," many of us set a goal. It gives us something to shoot for. (Mine's to swim/bike/run my first triathlon.)

The U.S. economy is muddling along. But it's not cratering, and Friday's jobs report could bring another dip in the unemployment rate. There's a lot of noise in that percentage. What would engender more hope is a sign that more people are getting hired after four years of employment scarcity.

Among news of local companies, Philly Pharma blogger David Sell reports on an orderly change in CEO at Teva Pharmaceutical Industries, which has North American headquarters in North Wales. Here's a link to his post. And here's a link to Teva's announcement that former Bristol-Myers Squibb executive Jeremy Levin will succeed Shlomo Yanai.

Berwyn-based Ametek continues its acquisitive ways, buying Technical Manufacturing Corp., a Peabody, Mass. maker of electronic instruments. No terms were disclosed, but the company being bought has estimated annual sales of $30 million.

Inquirer Columnist
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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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