http://www.philly.com/r?19=960&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2F Business headlines from Philly.com. en-us Thu, 24 Jul 2008 20:21:00 GMT 2008-07-24T20:21:00Z en-us http://www.philly.com/r?19=961&43=165806&44=25866129&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_Phila__teachers_fund_sues_over_Vytorin.html The health and welfare fund of the Philadelphia Federation of Teachers filed a lawsuit against Merck & Co. Inc. and Schering-Plough Corp. over what the fund says were excessive charges for Vytorin used by its members, a cholesterol drug marketed by the two pharmaceutical companies. Thu, 24 Jul 2008 20:21:00 GMT 824747fe2ba3fe9f1a530b1442add961 2008-07-24T20:21:00Z http://www.philly.com/r?19=961&43=167961&44=25849229&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fhomepage%2F20080724_ap_fordposts87billionlossonassetwritedowns.html Ford Motor Co. posted the worst quarterly performance in its history Thursday, losing $8.67 billion in the second quarter. Thu, 24 Jul 2008 19:07:35 GMT 88f8334f7dc84b59cadb0b19c003edb9 2008-07-24T19:07:35Z http://www.philly.com/r?19=961&43=165801&44=25844334&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2F20080724_Sparks_fly_over_plans_for_a_sign.html How long can a bevy of lawyers talk about a six-letter sign? We still don't know, but Philadelphia's Zoning Board of Adjustment learned the hard way yesterday that it's a lot longer than two hours. Thu, 24 Jul 2008 07:01:00 GMT 05468a19f2d31a70c93b93713dd8a0c4 2008-07-24T07:01:00Z http://www.philly.com/r?19=961&43=165806&44=25862184&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_Penn_National_Gaming_cites_weak_economy_in_2Q_downturn.html WYOMISSING - Racetrack and casino operator Penn National Gaming said today that its second-quarter earnings fell 3.4 percent on weak economic conditions, narrowly missing Wall Street estimates. Thu, 24 Jul 2008 18:52:00 GMT 6ee549a51d04ca3686cc1d2a9378f8b4 2008-07-24T18:52:00Z http://www.philly.com/r?19=961&43=165806&44=25854019&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_Temples_docs__Patient_care_to_end_over_insurance_impasse.html A group of Temple University doctors is notifying patients that it has reached an impasse in contract negotiations with Keystone Mercy Health Plan. Thu, 24 Jul 2008 15:29:00 GMT 75a2290ee6443b1ea923ab1d00aed581 2008-07-24T15:29:00Z http://www.philly.com/r?19=961&43=165801&44=25844289&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2F20080724_NO_SHORE_THING.html The 21-year-old Bulgarian amusement-park worker fatally struck by a roller coaster this month belonged to a foreign workforce facing a more mundane hardship this year: a dearth of jobs after arriving. Thu, 24 Jul 2008 07:01:00 GMT 1aba457c4e315e21d5849cef85d4f492 2008-07-24T07:01:00Z http://www.philly.com/r?19=961&43=165806&44=25857084&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_Fuel_hedging_lets_Southwest_post_another_profit.html While most airlines are losing money, Southwest Airlines Co. today reported a $321 million second-quarter profit, beating Wall Street expectations, largely by hedging fuel costs. Thu, 24 Jul 2008 16:40:00 GMT e66dbe4a1bee60bdb807594233f2f2a7 2008-07-24T16:40:00Z http://www.philly.com/r?19=961&43=165806&44=25851844&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_Existing_home_sales_down_sharply_in_June.html Sales of existing homes in the eight-county metropolitan area fell 27.8 percent in June from the same month in 2007, while median sales prices remained steady - falling just 0.2 percent. Thu, 24 Jul 2008 14:29:00 GMT a7c0a80bad3c73bcb96836dfef4eee36 2008-07-24T14:29:00Z http://www.philly.com/r?19=961&43=165806&44=25853459&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_AmerisourceBergen_posts_3Q_loss_on_PMSI_sale.html Drug distributor AmerisourceBergen Corp., Chesterbrook, today posted a fiscal third-quarter loss on a charge associated with the the sale of its struggling PMSI workers' compensation business. Thu, 24 Jul 2008 15:16:00 GMT f8c835c9d09183a52981bbebda926dc4 2008-07-24T15:16:00Z http://www.philly.com/r?19=961&43=165806&44=25850734&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_Phila__gas_prices_continue__decline.html Gas prices continued a decline that started over the weekend, at both the gas and diesel lanes, AAA Mid-Atlantic reported today. Thu, 24 Jul 2008 13:44:00 GMT 9521a45f83fcc96e73fa3aa77ee3199e 2008-07-24T13:44:00Z http://www.philly.com/r?19=961&43=165806&44=25851214&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_At_8__decline__Rohm_earnings_miss_estimates.html Philadelphia-based Rohm & Haas Co., a specialty chemicals maker that earlier this month agreed to be purchased by Dow Chemical Co., today reported an 8 percent drop in second-quarter profit, missing Wall Street's expectations. Thu, 24 Jul 2008 14:04:00 GMT 87faf9ecbe42c05ed74a61211b53bbe7 2008-07-24T14:04:00Z http://www.philly.com/r?19=961&43=165806&44=25850279&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_Medico_says_new_business_boosted_2Q.html FRANKLIN LAKES, N.J. - Pharmacy benefits manager Medco Health Solutions said today that its second-quarter profit climbed 22 percent as it won new clients and prices for brand-name drugs increased. Thu, 24 Jul 2008 13:26:00 GMT 7dba8879ccb716f9eeadc86973d49527 2008-07-24T13:26:00Z http://www.philly.com/r?19=961&43=165806&44=25848529&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_Dow_cites_higher_costs_as_2Q_profit_falls_27_.html GRAND RAPIDS, Mich. - Dow Chemical Co. said today that despite record sales and two double-digit price increases unveiled in the second quarter, its profit for the period fell 27 percent, in large part because of sharply higher costs for energy and raw materials. Thu, 24 Jul 2008 11:55:00 GMT 3b6147a4fa63de6b1d91063315c1d81e 2008-07-24T11:55:00Z http://www.philly.com/r?19=961&43=165801&44=25844269&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2F20080724_House_passes_housing_bill.html WASHINGTON - The House passed a sweeping housing bill yesterday that President Bush could sign as early as this week - easing some of the market's problems but providing only modest benefits for homebuyers or borrowers facing foreclosure. Thu, 24 Jul 2008 07:01:00 GMT 84b9d835c7e34fcf0edb8fbab4e12700 2008-07-24T07:01:00Z http://www.philly.com/r?19=961&43=167961&44=25846364&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fhomepage%2F20080724_Changing_of_guard_at_Phila_exchange.html The $652 million sale of the Philadelphia Stock Exchange to the Nasdaq OMX Group is expected to be completed today, marking the end of the 218-year-old exchange's run as an independent operation. Thu, 24 Jul 2008 10:31:04 GMT 3782c1495e9e2edba5c3eb9c9077e203 Tony Fitts 2008-07-24T10:31:04Z http://www.philly.com/r?19=961&43=165806&44=25850364&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_CHOP_gets__15M_gift_for_pediatric_center.html Children's Hospital of Philadelphia has received a $15 million gift to open a pediatric care center in Norristown. Thu, 24 Jul 2008 13:31:00 GMT 791716d1c342ce356ef3eed058d27218 2008-07-24T13:31:00Z http://www.philly.com/r?19=961&43=165806&44=25849084&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_Xerox_meets_views_on_19__profit_decline.html SAN FRANCISCO - Xerox Corp.'s second-quarter profit skidded 19 percent, but matched Wall Street's forecast, as the office-equipment maker was hurt by restructuring charges while its cash-cow supplies and services business hummed along smoothly. Thu, 24 Jul 2008 12:27:00 GMT 824eff384c548fd8eb884d5c9e3b8cb5 2008-07-24T12:27:00Z http://www.philly.com/r?19=961&43=165806&44=25849049&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2Fbreaking%2F20080724_National_City_posts__1_8B_2Q_loss.html CLEVELAND - Regional bank National City Corp. today reported a huge loss for the second quarter, as mortgage loans soured and it took a big charge related to previous acquisitions. Thu, 24 Jul 2008 12:25:00 GMT 53b3e2a83b3145392db3f22e899cec84 2008-07-24T12:25:00Z http://www.philly.com/r?19=961&43=165801&44=25844329&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2F20080724_Zoning_appeal_contests_Valley_Forge_development_plans.html More than a million visitors come each year to explore its rich Revolutionary War history, but the fact is that there's never been a battle fought at Valley Forge. Thu, 24 Jul 2008 07:01:00 GMT 66d82553e60918a9e3e648c692918661 2008-07-24T07:01:00Z http://www.philly.com/r?19=961&43=165801&44=25844279&32=3796&7=195352&40=http%3A%2F%2Fwww.philly.com%2Fphilly%2Fbusiness%2F20080724_Bala_Cynwyd_insurer_is_sold.html James J. Maguire had his first success in insurance by using sign language to sell life insurance to deaf people in the late 1950s. Thu, 24 Jul 2008 07:01:00 GMT babf1b1917d06d73c80c2c8301f7d674 2008-07-24T07:01:00Z