With U.S. stock and bond markets closed on this federal holiday, the domestic news flow from the business world is thin.
So we turn to Germany where SAP AG said it plans to acquire datango AG, which provides "workforce performance support software." No terms were disclosed for this transaction expected to close in the first quarter.
Based in Berlin, datango was founded in 1999. SAP, which has North American headquarters in Newtown Square, said that datango will expand its offerings for education tools.
LaSalle Hotel Properties jumped into Philadelphia’s Center City hotel market with two purchases Wednesday, while selling its only Atlantic City-area property.
The Bethesda, Md., real estate investment trust bought the Westin Philadelphia from HEI Hotels & Resorts for $145 million. The 294-room Westin at 99 S. 17th St. is part of the two-tower Liberty Place office, retail, and residential complex.
LaSalle also bought the Embassy Suites Philadelphia - Center City hotel from HEI for $79 million. The 288-room Embassy Suites at 1776 Benjamin Franklin Parkway had been built as an apartment house in the 1970s.
The only corporate sponsorship story anyone’s been talking about lately involves Tiger Woods.
But the golf phenom wasn’t the only one seeing his list of sponsors shrink last year.
A Chicago firm said that for the first time in the 25 years that it’s been tracking sponsorship, the amount spent by North American companies declined. IEG L.L.C. estimates that companies spent $16.51 billion in 2009, down $100 million, or 0.6 percent, from 2008.
The Convention Center generally holds two kinds of big events: Public shows and trade shows.
Public shows, like the flower show and auto show, welcome the masses to ooooh and aaaah over the exhibits.
Trade shows are inwardly focused on a certain industry sector, and their attendees are business customers. Short of not being able to get a decent hotel room, the public often isn’t aware that there’s a big show in town.
College bowl season is usually the time of the year we’re most aware of the pervasiveness of corporate sponsorship.
Can’t wait for the Konica Minolta Gator Bowl on Jan. 1? How about the Papajohns.com Bowl or Meineke Car Care Bowl?
While sports is the dominant vehicle for corporate sponsorship, all sorts of nonprofit organizations count on business to pony up for public events, and sometimes bail them out when funds run short.