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Friday, July 4, 2008
Pa. loan backs expansion of screening firm

A company that says it traces its origins to an Apple Macintosh computer in a Philadelphia apartment is getting state help to build a 51,000-square-foot corporate headquarters in Bucks County.

Vertical Screen Inc. is in the business of job applicant screening and it’s obviously come a long way in 19 years.

The Pennsylvania Industrial Development Authority has awarded Vertical Screen a $2.5 million low-interest loan. The state says the $14 million project will retain 166 jobs and create 104 jobs.

The Southampton, Pa. company is the parent of three screening firms: Certiphi Screening, which focuses on the health-care industry; Business Information Group, for the financial-service sector; and Truescreen, for everybody else.

Board moves

A key director has left the board of Trump Entertainment Resorts Inc., which has three casinos in Atlantic City but is selling one of them.

Chicago lawyer Cezar M. “Cid” Froelich resigned on July 2, according to a filing with the Securities and Exchange Commission. He’d been a director since the gambling company emerged from bankruptcy May 20, 2005. His term was scheduled to expire next year.

Froelich was one of three members of the company’s executive committee, along with chairman Donald J. Trump and Morton E. Handel, who is chairman of Marvel Entertainment Inc.

The purpose of the executive committee is to provide advice to management, which is led by CEO Mark Juliano, on corporate strategy and business plans. Trump Entertainment did not say who would replace Froelich.

Froelich was also a member of the board’s corporate governance and nominating committees.

Quotable

It looks like we are back in the quarterly conference call business and we will be talking with you again soon.

- Peter M. Carlino, chairman and CEO of Penn National Gaming Inc., on an analysts call following the collapse of a multi-billion-dollar deal to go private.

Posted by Mike Armstrong @ 3:05 AM  Permalink | Post a comment
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About Mike Armstrong
Mike Armstrong, a business editor and writer for nearly two decades, is the Inquirer's business columnist and PhillyInc blog editor.