Monday, September 1, 2014
Inquirer Daily News

Archive: November, 2008

POSTED: Friday, November 21, 2008, 2:30 AM

During quieter days on Wall Street, when a CEO sold shares, it was big news.

But since the stock market gyrates by triple digits nearly every day now, the actions of CEOs and other “insiders” - officers and board members - often go unnoticed.

We should pay attention when a CEO buys or sells stock because there are lots of reasons why he or she might do so. At the most basic level, those who watch insider activity interpret buying as a good sign that the stock price could rise in the future. Selling sends the opposite message.

POSTED: Thursday, November 20, 2008, 2:30 AM
Filed Under: Manufacturing

In the debate over the rescue of the Big Three automakers, what gets lost is that General Motors, Ford and Chrysler are not the sum total of the U.S. industry.

Foreign companies have made big capital investments in car and truck plants in the United States. Everyone thinks of Toyota and Honda. But don’t forget BMW and Daimler, Nissan and Hyundai.

The Center for Automotive Research’s economic impact report on the contraction of the Big Three has gotten a lot of news coverage. The group says up to 3 million jobs could be lost in the first year after a total collapse. The 2007 U.S. employment for the Terrible Trio was 239,341.

POSTED: Wednesday, November 19, 2008, 4:46 PM
Filed Under: People

There are few bigger names in economics than Martin Feldstein, of Harvard University.

Just a day after testifying before the House Financial Services Committee on the $700 billion financial rescue plan, Feldstein was named the winner of the Frederick Heldring Global Leadership Award by Philadelphia's Global Interdependence Center.

POSTED: Wednesday, November 19, 2008, 1:12 PM
Filed Under: Financial Services

UPDATED AT 5 P.M.: Lincoln National Corp., one of four life insurers that's applied for financial help under the federal bailout plan, saw its shares tumble today.

Sure, the overall market plunged, but Lincoln shares sunk by 40 percent early in the day and stayed down.

Shares of Radnor-based firm closed at $7.31, down $4.85 from yesterday's close of $12.16. Over the last 52 weeks, the price of Lincoln shares has fallen 87 percent.

POSTED: Wednesday, November 19, 2008, 11:32 AM
Filed Under: Consumer Products | People
H.F. "Gerry" Lenfest (Ed Hille / Staff Photographer)

Cable pioneer and philanthropist H.F. "Gerry" Lenfest has been picked receive the 2008 William Penn Award from the Greater Philadelphia Chamber of Commerce.

The award is considered the highest honor given to a business executive in the Philadelphia region.

POSTED: Tuesday, November 18, 2008, 8:00 PM
Filed Under: People | Pharma, Biotech | Technology

You really do need a scorecard to keep up with all of the awards programs this time of year.

The Eastern Technology Council held its 16th annual Enterprise Awards at the Kimmel Center Tuesday evening. Eleven companies and executives received awards which the council says celebrate the "vitality of the technology and life sciences communities."

I'd say the awards this year tilted more toward information technology than life-science companies.

POSTED: Tuesday, November 18, 2008, 3:31 PM
Filed Under: Manufacturing

This blog and many others have hashed out the debate over whether it should be bailout money or bankuptcy for the Big Three automakers.

When I wrote about the possibility of an automaker reorganizing using the well-established U.S. bankruptcy system on Nov. 10, I'd say half of those responded to the column disagreed, saying how crucial the auto industry is to the manufacturing sector.

And Inquirer writer Chris Mondics today explained why bankruptcy isn't a sure path to recovery for one, two or all three of the domestic automakers.

POSTED: Tuesday, November 18, 2008, 2:30 AM
Filed Under: Investing, Markets | People

Two different surveys of economists and forecasters released Monday reach the same conclusion: We’re in a recession.

The National Association for Business Economics said that 96 percent of its panelists have no doubt that a recession has begun. Half estimated that it started in the fourth quarter of 2007 or the first quarter of 2008.

In the other survey, by the Federal Reserve Bank of Philadelphia, 51 forecasters said they think the recession started in April and will last 14 months.

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

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