Wednesday, July 30, 2014
Inquirer Daily News


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The Pennsylvania Liquor Control Board slashed the license fee for a tavern gaming license to $500 from $2,000 in a unanimous vote, the agency said.
KKR's $680 million minority investment
Atlantic City's casinos woes made their mark on a national release of employment data in the nation's 372 metropolitan area by the U.S. Bureau of Labor Statistics.
Economics in a nutshell: If it is all about the labor market and wage pressures, then the Committee did elevate its thinking about the potential for rising compensation to the top of the discussion. That said, the members then decided to downgrade the threat by indicating there was "significant underutilization of labor resources".
Destination Maternity Corp. shares were down 18.8 percent Wednesday afternoon, following the Philadelphia retailer's announcement of disappointing quarterly earnings.
The Street: Does a woman's pregnancy somehow stir up retro opinions that said pregnant woman should be home with a glass of iced tea in one hand and a vacuum in the other? Or, does it just mean that those who feel the need to tamper with that certain pregnant woman's emotions just have a serious lack of manners and sensitivity? Regardless of the reason, some of these real-life statements will be sure to shock you.
The Street: With the disability insurance trust fund facing depletion in 2016, benefits would need to be reduced by 20% to correspond with payroll tax revenues.
California-based Macerich Co., which owns 55 U.S. shopping centers including the Deptford Mall, will invest $106.8 million in a joint venture to redevelop the Gallery at Market East and offer "accessible luxury retailing" there, Pennsylvania Real Estate Investment Trust, owner of the 1.4 million-square-foot Center City shopping complex, said Tuesday.
PhillyDeals: Bootmaker Timberland "has leased 5,800 sq. ft. for its Philadelphia flagship store, which it plans to have open by the fall," Steve Gartner of Metro Commercial Real Estate Inc. tells me in a note this afternoon.
Merck & Co., the second-biggest U.S. drugmaker, is staying in the United States and sticking to a bolt-on acquisition strategy, shunning the route taken by its biggest rival, Pfizer Inc.
The Street: John Chasen drives 60 miles to a Veterans Affairs medical facility in Rome, Ga. from his residence in Chatsworth every three months to get blood work. Although there are doctors at the Rome clinic, Chasen is also driving to a Nashville, Tenn. VA facility to see a physician's assistant who issues prescriptions.
SEOUL, South Korea (AP) - Samsung Electronics Co. reported lower-than-expected profit for the second quarter on Thursday and said it was uncertain if handset business profit would improve during the current period.
WASHINGTON (AP) - President Barack Obama is preparing to sign an executive order cracking down on labor violations by companies that contract with the federal government, the White House said Wednesday.
WASHINGTON (AP) - Management failures by the Obama administration set the stage for computer woes that paralyzed the president's new health care program last fall, nonpartisan investigators said in a report released Wednesday.
NEW YORK (AP) - Talks aimed at averting Argentina's second default in 13 years ended with bitter recriminations Wednesday as the South American country said it could not accept a deal with U.S. hedge fund creditors it dismisses as "vultures."
Manchester United's American owners are set to raise around $150 million by selling more of their club shares on the New York Stock Exchange.
NEW YORK (AP) - Whole Foods is getting ready to launch its first national marketing campaign and expand home delivery as it looks to fend off bigger players muscling into the organic and natural foods category.
U.S. stocks closed mixed Wednesday after the Federal Reserve said the economy was strengthening enough for the central bank to continue cutting its stimulus. Bond yields rose after the government reported that the U.S. economy grew at a robust annual rate of 4 percent this spring.
The $130,200 fine against Philadelphia-based Aramark Correctional Services covered continued staffing shortages, unacceptable food substitutions and shortages and sanitation issues, including maggots observed in food service operations at five prisons this month and last, according to Ohio's July 23 letter to the company.
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