The chief executive officer of Lehman Bros. Holdings Inc. can still pack a room, although these days that room is more often than not a bankruptcy courtroom.
But there was Bryan Marsal, a self-described “old workout guy,” speaking to several hundred people Tuesday at La Salle University’s Economic Outlook event at the Union League of Philadelphia.
Marsal operates in a world “where the economy intersects with corporate success and failure,” Paul R. Brazina, dean of La Salle’s business school, said in his introduction.
The rising tide that was the U.S. stock market in 2010 lifted many of the dinghies, trawlers and supertankers of the Philadelphia corporate world.
But it’s easy to see the dents and leaks left by the financial crisis and recession. The ranks of the good ship Inquirer/Bloomberg Philadelphia Index have been thinned significantly over the last three years.
Delistings, acquisitions, and the relocation of corporate headquarters have all played a part in winnowing the index to 181 members.
A Bucks County-based hedge-fund manager has attracted the eye and capital of Goldman Sachs Group Inc.
Mount Lucas Management Corp., with $1.8 billion under management, said Monday that Goldman Sachs’ Petershill Offshore Fund L.P. will acquire a passive minority interest in the 34-year-old firm in Newtown. It did not disclose how big that stake will be.
However, Mount Lucas said it will “retain complete autonomy” over management, operations and investment strategies.
While those who run venture capital funds may get more attention, angel investors invest in far more start-ups in a given year.
The National Venture Capital Association cites data from Thomson Reuters that show 728 companies obtained their initial investments from venture funds in 2009 - a total of $3.3 billion invested.
In contrast, 57,225 businesses raised $17.6 billion from 259,480 individuals in 2009, according to the Center for Venture Research at the University of New Hampshire.
Many of us have pulled back on our use of credit over the last three years.
In my case, besides paying down more of what I owe, I decided not to use the credit card whose terms annoyed me the most.
For much of the last year, I have used just one credit card and find that holding to such a limitation has caused me to think twice before paying with plastic.
No signs of an enthusiasm gap at last week’s Impact 2010 venture-capital conference in Philadelphia.
A survey of more than 250 entrepreneurs, investors, and professional advisers conducted Nov. 10 by KPMG L.L.P. found plenty of optimism among the people who start, feed, and guide growing companies.
The power of positive thinking would seem to be an essential ingredient in any risky effort, but it was been largely absent among the attendees of the 2008 and 2009 venture conferences in Philadelphia.
When I last wrote about Global Indemnity P.L.C., it was one of several companies incorporating in the more tax-friendly climate of Ireland.
In May, shareholders overwhelmingly approved the move at a special meeting in Bermuda, and Global Indemnity “re-domesticated” in Ireland from the Cayman Islands.
But most of the property and casualty insurer’s 390 employees continued to work out of Bala Cynwyd, where it leases about 71,150 square feet of office space.
There is little agreement over what the U.S. employer-based health-insurance system will look like 10 years from now.
Some have speculated that the Patient Protection and Affordable Care Act will prompt more businesses to drop coverage. Others say that the employee benefit is too prized, and that employers would be very reluctant to drop it.
On Tuesday, the Mercer consulting firm provided some new hints about what businesses say they might do. The results of a survey of more than 2,800 employers indicates only 6 percent of companies with at least 500 workers say they’re likely to drop their health coverage in 2014.