Wednesday, August 27, 2014
Inquirer Daily News

Year In Review: Business/Tech

Year In Review: Business/Tech

The year 2012 was one of tremendous highs and incredible lows in business and technology. Apple stock soared with the introduction of the iPhone 5, than fell flatter than an iPad Mini. Facebook's much ballyhooed IPO floundered as did the revenue of Atlantic City's newest casino, The Revel. Still, some like Philly Mayor Michael Nutter, saw an economic recovery right around the corner.

The year 2012 was one of tremendous highs and incredible lows in business and technology. Apple stock soared with the introduction of the iPhone 5, than fell flatter than an iPad Mini. Facebook's much ballyhooed IPO floundered as did the revenue of Atlantic City's newest casino, The Revel. Still, some like Philly Mayor Michael Nutter, saw an economic recovery right around the corner.
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Apple stores in Philadelphia and across the U.S. opened to crowds ready to purchase the new smartphone.
Apple Inc. set a U.S. record for market value, surpassing the high mark reached by Microsoft Corp. during the Internet heyday, on optimism that the next version of the iPhone will meet high demand.
More than 300 workers in Philadelphia will lose their jobs. Hostess blamed a striking union for refusing to return to work.
A Delta station on Brook Avenue in Passiac Park, north of Newark, is charging just $2.97 a gallon, the lowest in the state, according to GasBuddy.com - and it's not some gimmick price.
The stock closed up just 23 cents in its first day of trading. But the firm was valued at about $105 billion.
A top clerks union official said Acme's parent has been trawling for buyers and hasn't invested in local stores.
Sunoco Inc.'s Philadelphia refinery, which was threatened with closure at the end of this month, will be reborn as an "energy hub." The Carlyle Group, a Washington, D.C., private-equity manager, announced plans to operate the refinery with Sunoco as a joint venture called Philadelphia Energy Solutions.
The world's attention wavered between the tragic and the silly in 2012, and along the way, millions of people searched the Web to find out about a royal princess, the latest iPad, and a record-breaking skydiver.