Wednesday, November 25, 2015

Archive: March, 2009

POSTED: Wednesday, April 1, 2009, 2:25 AM
Filed Under: Corporate Governance

You may have already received in the mail an annual report from a company in which you own shares.

Well, if you’re an American Water Works Co. Inc. shareholder, you can now watch the video. The Voorhees water utility has uploaded a “virtual annual report” to its Web site here.

It’s not a 45-minute-long video. Try 53 videos that last about a minute each and focus on various aspects of the company’s operations and financials during 2008.

POSTED: Tuesday, March 31, 2009, 10:28 AM

Inquirer Online Desk @ 10:28 AM  Permalink | 0 comments
POSTED: Tuesday, March 31, 2009, 2:30 AM
305 Beaumont Rd. in Devon, Chester County, PA. sold for 3.4 million. ( David Swanson / Staff Photographer )

In the Philadelphia region, Chester County is where the money is.

Chester County ranked 21st among the more than 3,100 counties in the United States by adjusted gross income for 2007, according to a new analysis of IRS data by the Transactional Records Access Clearinghouse at Syracuse University.

(I hope everyone’s comfortable reading about adjusted gross income — you know, line 37 on Form 1040. It is the height of tax season, after all.)

POSTED: Monday, March 30, 2009, 2:30 AM

Here’s how I know that “social media” Web sites can no longer be ignored:

There have been at least three meetings in the Philadelphia area this month on how businesses can capitalize on the rising popularity of sites such as Facebook and LinkedIn.

Most people have room in their lives for at least two social media sites, said John F. Pino, a Philadelphia entrepreneur. One for your personal life, and one for your professional life.

POSTED: Friday, March 27, 2009, 12:52 PM
Filed Under: Pharma, Biotech

With Merck & Co. Inc. buying Schering-Plough Corp., everyone expects there will be job cuts once the deal is done.

But layoffs going on right now?

The prominent pharmaceutical blog In the Pipeline has posting today about layoffs at Merck R&D operations in West Point (Montgomery County) and in Montreal.

POSTED: Friday, March 27, 2009, 12:26 PM

Profits eroded throughout corporate America during the fourth quarter.

The Bureau of Economic Analysis yesterday said corporate profits fell $250.3 billion, or 16.5 percent, between the third and fourth quarters. They dropped $18.5 billion, or 1.2 percent, between the second and third quarters.

At $1.26 trillion, pre-tax corporate profits haven’t been this “low” since the third quarter of 2004 when they were $1.22 trillion. Their all-time high of $1.71 trillion in the third quarter of 2006 seems very far away.

POSTED: Friday, March 27, 2009, 2:30 AM
Filed Under: Technology

One reason I read announcements about who’s been hired or promoted is that often they contain more news than the company intended.

Yesterday, Lighting Science Group Corp. said it hired an investment-banking executive named Katy Reynolds as its senior vice president of strategy and finance.

The press release said she will be based at the company’s Westampton offices, which are, in fact, its corporate headquarters.

POSTED: Thursday, March 26, 2009, 2:30 AM

When I heard the latest rumor involving a possible purchase of Allergan Inc. by GlaxoSmithKline P.L.C., I had to shake my head: Allergan was once a part of the world’s second-largest pharmaceutical company.

In 1989, Allergan was spun off by Philadelphia’s SmithKline Beckman Corp. as part of its merger with Beecham Group P.L.C.

Twenty years later, Irvine, Calif.-based Allergan is now best-known for its Botox wrinkle treatment. In fact, Allergan and GlaxoSmithKline have an agreement to bring Botox to Japan and China. Botox accounts for more than a quarter of Allergan’s $4.4 billion in annual revenues.

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

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