Friday, November 21, 2014
Inquirer Daily News

Archive: July, 2008

POSTED: Wednesday, July 16, 2008, 8:23 AM

Sunoco Inc. has chosen a female Royal Dutch/Shell Group executive as its new CEO, succeeding John G. Drosdick who will step down as of Aug. 8.

Lynn Laverty Elsenhans, 52, joins the Philadelphia oil refiner and marketer from Shell Downstream Inc., a unit of Royal Dutch/Shell. She was executive vice president of global manufacturing.

Drosdick, who turns 65 in August, will remain on the board as non-executive chairman until the end of the year.

POSTED: Wednesday, July 16, 2008, 3:05 AM

In business, you’re often only as good as your last deal.

And Randy H. Thurman’s last one was impressive.

A year ago, Cardinal Health Inc. bought the Conshohocken company he ran, Viasys Healthcare Inc., for $1.5 billion. He remained with the Dublin, Ohio drug distributor during the transition.

POSTED: Tuesday, July 15, 2008, 3:05 AM

Sen. Charles Schumer likens his role in the collapse of IndyMac Bancorp Inc. to a bearer of bad news.

Others have accused the New York Democrat of starting a run on the bank.

Regulators said Schumer’s letter, which he made public, lit the match that led to massive customer withdrawals.

POSTED: Monday, July 14, 2008, 2:49 PM

You really do need a scorecard to keep up with the changes on the board of Charming Shoppes Inc.

On Friday, the Bensalem-based women's apparel retailer appointed M. Jeannine Strandjord to its board of directors. She replaces William O. Albertini, who died of a heart attack June 28.

Last week, president and CEO Dorrit J. Bern resigned from Charming Shoppes. She'd also been the chairman until June 27 when the company formally separated the titles of CEO and chairman. Alan Rosskamm was named nonexecutive chairman.

POSTED: Monday, July 14, 2008, 3:05 AM

The Philadelphia area lost a corporate headquarters recently, but I'm not sure that many people were familiar with it even after 21 years here.

Last Thursday, Henkel of America Inc. said that it had moved its North American corporate headquarters to Rocky Hill, Conn., as of July 1.

Henkel, which makes Dial soap and Purex laundry detergent, had its offices in the Gulph Mills section of Upper Merion. The German company is huge, with 2007 sales of 13.07 billion euros, or about $20.8 billion.

POSTED: Friday, July 11, 2008, 4:50 PM

A Philadelphia packaging factory will get its third owner in little more than two years.

Sun Capital Partners Inc., a buyout firm based in Boca Raton, Fla., is buying the plant at 5000 Flat Rock Rd. from Graphic Packaging Holding Co.

No terms were disclosed.

POSTED: Friday, July 11, 2008, 2:45 PM

The Philadelphia area did lose a corporate headquarters recently. But it wasn't Rohm & Haas Co.

On Thursday, Henkel of America Inc. told the world that it had moved its North American corporate HQ to Rocky Hill, Conn., as of July 1.

You will be forgiven if you did not know that Henkel, which makes Dial soap and Purex laundry detergent, had its headquarters in the Gulph Mills section of Upper Merion. The German company kept a fairly low profile in the Philadephia region.

POSTED: Friday, July 11, 2008, 3:05 AM

Worried that Philadelphia is on the losing end of a deal once again?

Let me save your teeth from gnashing.

Dow Chemical Co. is not stealing Rohm & Haas Co. from its cozy Philadelphia nest. It is buying (and possibly overpaying for) a specialty chemical company that it believes can help it stay the world’s biggest chemical company.

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.

Mike Armstrong Inquirer Columnist
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