Saturday, July 4, 2015

Archive: September, 2008

POSTED: Friday, September 12, 2008, 2:30 AM

So Foxwoods and its partners will drop their plans for a $670 million South Philadelphia casino in exchange for the chance to build one in what is now a shopping mall in Center City?

I’ll be sure to check it out right after I take the tram over the Delaware River to the Simon Property Group mall at Penn’s Landing to buy something pretty for my wife.

Or maybe after I try that virtual Pirates of the Caribbean ride at DisneyQuest at Eighth and Market.

Mike Armstrong @ 2:30 AM  Permalink | 0 comments
POSTED: Thursday, September 11, 2008, 2:35 AM
Filed Under: Health-care Services

Albert Einstein Healthcare Network has long planned to stretch beyond its North Philadelphia neighborhood to capture more business from better-insured suburbanites.

In January 2006, Einstein teamed with Montgomery Hospital in Norristown to build a new hospital in central Montgomery County. After unsuccessfully pursuing a site in Whitpain, the two now hope to build a $360 million hospital in East Norriton.

On the face of it, the strategy makes sense. Currently, 67 percent of the Einstein health system’s revenue depends on government programs such as Medicare and Medicaid. Suburban hospitals see fewer patients covered by Medicaid and more toting commercial insurance.

Mike Armstrong @ 2:35 AM  Permalink | 0 comments
POSTED: Wednesday, September 10, 2008, 5:07 PM
Filed Under: Management, workplace

Talk about burying the lead.

On the same day that the board of Innovative Solutions & Support Inc. declared a special cash dividend of $1 per share (which it announced at the time), it terminated its CEO (which it didn't announce until late Tuesday.)

Raymond J. Wilson is out as chief executive officer of Innovative Solutions.

Mike Armstrong @ 5:07 PM  Permalink | 0 comments
POSTED: Wednesday, September 10, 2008, 3:05 AM
Filed Under: Economic Development

I really don’t like government subsidizing any industry when the potential market would appear to be incentive enough.

But what’s the market incentive to slowing climate change? Survival?

Thanks to a report by the Political Economy Research Institute of the University of Massachusetts-Amherst, we have one possible answer. Spend $100 billion over two years in six particular areas and the U.S. economy could create 2 million jobs.

Mike Armstrong @ 3:05 AM  Permalink | 0 comments
POSTED: Tuesday, September 9, 2008, 2:30 AM
Filed Under: Health-care Services

Home Health Corp. of America Inc., of King of Prussia, is going to have to change its name.

After more than 30 years of providing home health care, it just sold the last six agencies it had to Amedisys Inc., of Baton Rouge, La.

Amedisys announced the purchase on Monday but did not disclose the terms.

Mike Armstrong @ 2:30 AM  Permalink | 0 comments
POSTED: Monday, September 8, 2008, 12:39 PM
Filed Under: Real Estate

With deal-meister Joseph N. DiStefano off today, I thought I'd make sure you got your deal fix.

From the world of commercial real estate, the Phoenixville Corporate Center was sold for $12 million.

That's a 167,531-square-foot building at 1039-1041 W. Bridge St. in Phoenixville, Montgomery County. (CORRECTION: Sorry, that's Chester County. Typing too fast.) Seller was Rosedon Holdings; buyers was CPG Acquisitions.

Mike Armstrong @ 12:39 PM  Permalink | 0 comments
POSTED: Monday, September 8, 2008, 2:25 AM
Filed Under: Economic Development

Apparently, you can never have enough sports arenas.

Comcast-Spectacor L.P. may be early in its search for a new arena for the Philadelphia Phantoms, but I’m already worried about how much this one’s going to cost me.

Enclosed arenas and outdoor stadiums as well as concert halls and museums - they all get built with a healthy dose of public funding.

Mike Armstrong @ 2:25 AM  Permalink | 0 comments
POSTED: Friday, September 5, 2008, 3:15 AM
Filed Under: Small Business | Technology

The future of Philadelphia’s business community was crowded into an empty retail storefront at 37th and Market streets Thursday.

The space, owned by the Science Center, was unfinished with exposed sea-green drywall. A blank canvas for something new, and thus an appropriate setting as young entrepreneurs made their multimedia pitches to venture capitalists, lawyers, accountants and “angel investors.”

Sponsored by the for-profit DreamIt Ventures, this “Funding Day” was the culmination of a three-month boot camp for entrepreneurs.

Mike Armstrong @ 3:15 AM  Permalink | 0 comments
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at

Mike Armstrong Inquirer Columnist
Also on
letter icon Newsletter