Mozido, an Austin, Texas-based digital-payments company with a couple of prominent Philadelphians on its board, ranks among the venture-capital-backed private tech companies known as "unicorns" in Silicon Valley: Blue-chip investors have pushed the firm's implied stock-market value above
As consumers force business onto smartphones, made-in-Philadelphia software plays a robust part: QVC-Curalate. QVC, the West Chester TV-shopping group, moved further online when it bought Web-shopping pioneer Zulily for $2.4 billion last summer.
'Bridgestone Corp. CEO Masaaki Tsuya did something rare in Japanese business circles: He put corporate pride aside, and walked away from an escalating bidding war with corporate raider Carl Icahn for the U.S. auto parts chain Pep Boys," Bloomberg's Jie Ma and Yuki Hagiwara reported.
To sell more gear, Cabela's simulates the Great Outdoors. Live game fish school in glass-walled aquariums, and stuffed megafauna herd overhead at the retailer's hangar-sized stores on the edge of whitetail-deer country in Hamburg, Pa., or at the heart of tax-free-shopping territory in Newark, Del.
Frontida BioPharm Inc., an Exton-based affiliate of China-based Tigermed's Frontage Laboratories Inc., says it has agreed to buy the former Mutual Pharmaceuticals drug-production plants in Northeast Philadelphia's Juniata and Burholme neighborhoods from their India-based owner, Sun Pharmaceuticals.
John Spagnola, the Philadelphia Eagles' star tight end and players' union rep in the 1980s, has built a post-NFL career as paid advisor to public-employer and union pension plans in Pennsylvania, which has more publicly funded retirement plans than anywhere.
Regarding the 51/2-week strike against Verizon by nearly 40,000 union members: After talking to company and union leaders, "we continue to expect the strike to end relatively soon," but it will still reduce this year's earnings for Verizon by around $200 million, or a nickel a share, writes New York-based telecom analyst Barry Sine in a report to clients of Philadelphia-based Drexel, Hamilton & Co.
Clanking, flashing coin-counting machines, pioneered locally by Vernon Hill's old Commerce Bank when it worked to make money fun, have lately vanished from Commerce successor TD Bank and rival PNC Bank, the biggest lenders in New Jersey and Pennsylvania, respectively.