Saturday, February 6, 2016

Archive: January, 2010

POSTED: Monday, February 1, 2010, 2:05 AM
Filed Under: Investing, Markets

You can’t be tired of earnings season already. It’s just getting interesting.

This is the week when some of the region’s biggest and best-known companies report financial results. We’re talking Sunoco Inc., Cigna Corp. and Unisys Corp. as well as Dow Chemical Co. and Pfizer Inc., both of which bought huge Philadelphia-area employers in Rohm & Haas Co. and Wyeth during the last year.

Sunoco’s results bear watching because the current business cycle has been awful for oil refiners. As a result, Valero Energy Corp., Chevron Corp., Sunoco and others have been closing refineries and slashing their workforces. Sunoco has posted net losses in its last two consecutive quarters.

POSTED: Friday, January 29, 2010, 12:20 PM

What drives people crazy about the economy are the mixed messages sent by the different statistics in the news every day.

Today, we get the “advance estimate” on how U.S. gross domestic product changed in the fourth quarter. The good news, according to a Bloomberg survey of economists, is that economic output likely rose at a 4.7 percent annualized rate, compared with 2.2 percent in the third quarter.

UPDATE: The Bureau of Economic Analysis reported the economy grew at a 5.7 percent annual rate in the fourth quarter.

POSTED: Thursday, January 28, 2010, 2:05 AM

Those starting businesses are often different from those with a lot of money to invest. The challenge is getting the two sides to meet.

This April, more than 100 investors are expected to gather at the Union League in Philadelphia to hear presentations from 30 entrepreneurs at the 12th Annual Angel Venture Fair. (Angels are the private investors, not the scrappy start-ups. The new companies would nevertheless be godsends should they prove to be fast growers and create lots of jobs.)

Who will those companies be? Well, first, they’ll be those that paid $250 to submit an application just to vie for one of those spots.

POSTED: Wednesday, January 27, 2010, 8:52 AM
Filed Under: Manufacturing | Technology

Maybe tiny Delaware really can make a comeback in the auto-assembly industry, thanks to technology and tax dollars.

A Bellevue, Wash., company that has developed hybrid electric vehicle technology was in Dover, Del., giving rides in its prototypes to state officials, including Gov. Jack Markell.

AFS Trinity Power Corp. calls its vehicle, which is a reconfigured Saturn VUE SUV, the XH150. It first showed off the prototypes at the North American International Auto Show in Detroit in January 2008 and brought them to Philadelphia that April.

POSTED: Tuesday, January 26, 2010, 2:05 AM

Life-sciences firms attracted most of the venture capital invested locally during the fourth quarter.

The MoneyTree report, issued by PricewaterhouseCoopers and the National Venture Capital Association, shows $142.1 million in invested in 28 companies in the Philadelphia metropolitan region. But that number falls to $84.3 million when you exclude the seven deals for Princeton-area companies.

Of that amount, $61.5 million was raised by four local health-care companies: Tarsa Therapeutics Inc., of Philadelphia; Quinnova Pharmaceuticals Inc., of Newtown; Avid Radiopharmaceuticals Inc., of Philadelphia, and MobileMD Inc., of Warminster.

POSTED: Monday, January 25, 2010, 2:05 AM
Filed Under: Small Business | Technology

My, how the business “beauty pageant” is changing. Attendees of Mobile Monday Mid-Atlantic’s Demo Night today will vote on the best presentations, not by a show of hands or secret ballot, but with a touch on their mobile devices.

Would you expect anything else from a group that proselytizes the virtues of the wireless smart phone? Got to work the app, if you talk the talk.

There is a growing local community of entrepreneurs developing all sorts of applications and tools for the iPhone and smart phones marketed by Verizon, Sprint and others.

POSTED: Friday, January 22, 2010, 8:04 AM

Hostile takeover attempts come in many flavors. Depending on the outcome, they don’t always taste good to shareholders.
Cadbury P.L.C.’s management didn’t find Kraft Foods Inc.’s initial unsolicited offer over Labor Day very sweet.
Originally, valued at $12.17 a share in cash and stock, Kraft’s offer was rebuffed by Cadbury as if it had been offered a bowl of macaroni and cheese instead of one of its creme eggs.

Cadbury chairman Roger Carr said at the time that the offer did not reflect the “true value” of the British candy-maker.

That is a phrase that Drexel University assistant professor of finance David Becher has heard a lot when it comes to hostile takeovers.

POSTED: Thursday, January 21, 2010, 2:05 AM
Filed Under: Pharma, Biotech

BioTrends Research Group Inc., of Exton, is a good example of a “knowledge-based” company.

It doesn’t employ a lot of people - just seven. But those employees invariably have M.D. or Ph.D. after their names. And their research is prized by their pharmaceutical and biotechnology clients.

How do I know?

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

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