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Fulton CFO retiring
Friday May 17th, 2013 09:09:52 PMFulton Financial Corp. said Friday that Charles J. Nugent, senior executive vice president and chief financial officer, will retire at the end of the year.Fulton Financial has engaged an executive search firm to identify candidates to succeed Nugent as chief financial officer.Nugent joined Lancaster-based Fulton Financial (NASDAQ: FULT) in 1992 as executive vice president and CFO and a member of the corporation’s senior management team. During his tenure, Fulton’s asset size has grown from…
Staffing agencies join forces
Friday May 17th, 2013 08:54:47 PMTwo staffing agencies have joined forces.Blue Plate Minds of Paoli, Pa., acquired the Shelley Miller Group of Feasterville, Pa.Blue Plate provides staffing for advertising, marketing and PR firms.Shelley Miller the person was cited for her “business expertise, networking acumen and professional credibility” which the Blue Plate principals, Karen Carroll and Melissa Burke, said would “meld perfectly” with their vision of the future.The combined firm will be based in Paoli.
Melitta upgrades South Jersey facility
Friday May 17th, 2013 08:37:57 PMMelitta USA upgraded its Cherry Hill, N.J., facility to produce single-serving coffees, the company said.The Clearwater, Fla.-based company already invested $10 million to upgrade the Cherry Hill facility in 2011. But now the company has added UpShot Solution equipment that gets Melitta products into more offices and homes. UpShot is a product of Chicago-based LBP Manufacturing.The site will produce Melitta Café de Europa Gourmet Single Cup Coffee, but also private-label products for third-party…
PA unemployment declines to 7.6%
Friday May 17th, 2013 08:11:32 PMThe state’s unemployment rate dropped three-tenths of a percentage point to 7.6 percent in April according to statistics released Friday by the Pennsylvania Department of Labor & Industry.Unemployment decreased 17,000 to 496,000 and employment was up 13,000 to 6,008,000.State officials said private sector jobs were up 8,300 to the highest level since September 2008. The largest gains were in professional and business services, leisure and hospitality and educational and health services.New…
TriState raised $75M in offering
Friday May 17th, 2013 03:55:07 PMTriState Capital Holdings said it has raised $75.38 million in its initial public offering.The offering was for 5.7 million shares of common stock, and underwriters exercised their option to buy an additional 855,000 shares of common stock from TriState (NASDAQ:TSC). So the bank collectively sold 6.55 million shares at $11.50 per share, less applicable underwriting discounts.TriState is a Pittsburgh-based bank with Philadelphia operations started in January 2007 by a former Pennsylvania’s Secretary…
Young chef to take over Le Bec-Fin space
Friday May 17th, 2013 03:41:33 PMWith Le Bec-Fin closing for good in June, plans call for a young two-star chef to take over the space this fall.Chef Justin Bogle, 32, who has worked for “Iron Chef” Jose Garces and others, plans a “progressive American” menu in what is now Le Bec-Fin (1523 Walnut St.). Bogle most recently worked as executive chef at New York City’s former Gilt, which earned two stars from the tough-grading Michelin guide.“To be able to return to Philadelphia with all that I’ve learned while working…
NIH awards $6M grant to Philadelphia research supplier
Friday May 17th, 2013 03:23:45 PMThe National Institutes of Health awared a $6 million grant to the Philadelphia-based National Disease Research Interchange(NDRI) for the next phase of human tissue collection for the NIH’s Genotype-Tissue Expression (GTEx) project.The NIH initiative, begun in 2010. is investigating how genetic variation may relate to gene expression and its correlation with disease.NDRI and its partner organizations will use the funding over the next 15 months to procure 250 organ and tissue donors for researchers.The…
Developer seeks to buy Marketplace Design Center
Friday May 17th, 2013 03:07:07 PMBart Blatstein’s Tower Investments Inc. is looking to buy the Marketplace Design Center in Center City to create a bold, mixed-use complex that would include constructing a residential tower on the roof of the structure.The property consists of two buildings — 2400 Market St., which is about 370,000 square feet, and 12 S. 23rd St., a six-story, 120,000-square-foot building. Blatstein wouldn’t reveal how tall of a tower or how many apartments it might include. Market chatter has Blatstein…
Legislation to boost PA tech funding introduced
Friday May 17th, 2013 02:16:32 PMSome Pennsylvania legislators are taking another shot at setting up a program under which the state would raise money to invest in technology and life-sciences companies by auctioning off tax credits to insurance companies.Bills to establish the Innovate Pennsylvania Program have been introduced in the Pennsylvania house and senate and are in the finance committee in both chambers.Similar bills were introduced last year, but this year’s versions would boost the amount of tax credits sold to…
UniTek must meet conditions to keep customer
Friday May 17th, 2013 01:59:45 PMUniTek Global Services Inc. has to refinance its debt and straighten out its financial statements or lose DirecTV LLC as a customer.The Blue Bell, Pa., company said Thursday that El Segundo, Calif.-based DirecTV (NASDAQ:DTV) has given its DirectSat USA LLC subsidiary the 180-day notice required for DirecTV to terminate its master services agreement with DirectSat, which provides outsourced services for DirecTV, effective Nov. 8, 2013.Shortly after getting the notice, UniTek (NASDAQ:UNTK) said,…
