'Give me a broken system, and I see the problem really easily," says Mark Jessen, a Palo Alto, Calif.-based IT technology consultant for global business-software maker SAP, on a visit last week to the company's North America headquarters in Newtown Square.
The Securities and Exchange Commission has filed a "friend of the court" motion arguing that David Danon, the former Vanguard Group tax lawyer who says he was fired for complaining about billions of dollars of federal and state income-tax underpayments by the Malvern-based mutual-fund giant, is entitled to whistleblower protection under the Securities Exchange Act of 1934 and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
Since 2002, Paul Steck had run Conshohocken-based Saladworks under two outsize personalities, founder John Scardapane and investor Vernon Hill. Steck guided the 100-store chain through last year's bankruptcy reorganization - the only way the company's advisers could see to end the fiscal impasse that had prevented the chain from growing - and its sale to Centre Lane Partners, a New York buyout firm.
DuPont Co. collected $2.5 billion in after-tax profits last year. Dow Chemical Co. collected $4 billion. They aren't guaranteeing how many of the 5,000 or so people they still employ in Delaware will still have jobs when they are done merging and then splitting into three successor companies in a couple of years.
A director of Aqua America Corp. has resigned after questioning whether his fellow board members at the Bryn Mawr-based for-profit water company are truly independent and capable of criticizing the company's chairman, Nicholas DeBenedictis, who has held the top board post since 1993.
It's not enough to build a wall anymore. To protect data, you need to make it invisible, says Tom Patterson, global security boss at Unisys Corp. and a leader on the team that CEO Peter Altabef has recruited to turn around sales and profits after consolidating the general staff at the shrunken, Blue Bell-based computer-services company.
Last week, Gov. Wolf applauded Pennsylvania's underfunded retirement plans - SERS (state employees), PSERS (public school employees) - for trimming the fees they pay private money-management firms. Those fees are down $103 million at PSERS and $16 million at SERS from the levels of two years ago.
The $52-billion-asset Pennsylvania Public School Employees' Retirement System lost money last year, trailing the performance of the Pennsylvania and New Jersey state worker pension investment returns for 2015, according to a report the system released Friday.
Billionaire investor Carl Icahn has tapped a team of Georgia- and Florida-based executives to run his auto-parts group, including his newly acquired Pep Boys stores, garages and warehouses, decapitating the company's former Philadelphia-based top management group.
Checkpoint Systems Inc., the Gloucester County company that supplies retail stores with electronic pricing and security tags and readers, has agreed to be acquired by Canada-based label and packaging maker CCL Industries Inc. for $443 million in cash, or $10.15 a share.
Dow Chemical Co. and the DuPont Co. have agreed to pay Dow's lame-duck CEO, Andrew Liveris, $53 million in cash, stock, and tax reimbursement payments, and DuPont CEO Edward Breen $27 million in 2017 after the combined companies break into three successor firms, the companies told investors and the Securities and Exchange Commission in a filing Wednesday.