Business News

Philadelphia Business News - Local Philadelphia News | The Philadelphia Business Journal


View Breaking Local News Headlines in Philadelphia from the Philadelphia Business Journal. Access business resources, company profiles, business advice columns, local jobs and more.
American City Business Journals, Inc. and its licensors. All rights. reserved.

5 things to know today (4-17)

Thursday April 17th, 2014 12:46:00 PM
Here's what's happening today:1. A judge has  denied preliminary approval of the $765 million settlement between the NFL and more than 4,500 of its retired players in the concussions case that has been in the spotlight.2. Just nine days before exonerating Gov. Chris Christie in the George Washington Bridge lane closure scandal, a law firm  donated $10,000 a political group Christie leads.3. Heartbleed may be the  worst cybersecurity threat in years.4. Lourdes Health System  cuts 23…

City high-rise closed again due to broken pipe

Thursday April 17th, 2014 12:35:00 PM
For a second day a Center City high-rise is closed as crews continue to deal with a broken pipe that flooded elevators. NBC10 has more:A broken pipe flooded the elevators of the 18-story One Parkway Building located at 1515 Arch Street, according to city officials. Philadelphia Mayor Michael Nutter’s office announced Wednesday morning that the 18-story building will remain closed until further notice due to mechanical issues with the elevators. Crews spent the day trying to get the system…

Law firm that exonerated Christie donated to Christie-led group, says report

Thursday April 17th, 2014 12:22:00 PM
The lawyer that exonerated Gov. Chris Christie in the George Washington Bridge scandal made a sizeable donation to a political group led by Christie,  CBS News is reporting. In fact, the $10,000 donation from Gibson, Dunn & Crutcher came just nine days before the firm began its internal review of the lane closures that snarled traffic back in September 2013.Gibson, Dunn & Crutcher reported that  Christie played no role in lane closures. Here's more:On March 18, the firm donated $10,000…

Graham building at 15th and Chestnut in Center City purchased

Thursday April 17th, 2014 12:15:00 PM
The special servicer overseeing a defaulted loan on the Graham building in Center City has decided to buy the office property.C-III Asset Management had an option to buy the note on the 240,634-square-foot building at 30 S. 15th St. and has exercised that option, according to Commercial Real Estate Direct and Trepp Inc. The building is also known as One Penn Square West.In June 2006, an entity going under the name 30 S. 15th Associates bought the 25-story building for $35 million. That group…

Lourdes cutting 23 jobs as part of service realignment

Thursday April 17th, 2014 11:42:00 AM
Lourdes Health System is eliminating 23 hospital-based positions and making other clinical and personnel changes to “better position” the Camden-based health-care organization for the future.Alexander J. Hatala, Lourdes president and CEO, said other realignment of resources will include re-designating the intensive care nursery unit at Our Lady of Lourdes Medical Center from a Level-III to a Level-II unit, which will lower operating costs, and making unspecified “leadership changes” in…

Heartbleed still a threat, dubbed 'worst thing ever' by local computer pro

Wednesday April 16th, 2014 10:10:00 PM
It’s been more than a week since researchers disclosed the Heartbleed bug, and its severity has only amplified since.The terrifying tech security vulnerability was an unavoidable topic at Wednesday’s field hearing at Drexel University, which focused on how law enforcement works with the private sector to prevent cybercrime.“Are we doing enough?” Patrick Meehan, cybersecurity subcommittee chairman, asked a panel including the U.S. Secret Service’s Ari Baranoff, FBI’s Richard Quinn…

Wells Fargo taps one of region's best known bankers to expand lending

Wednesday April 16th, 2014 08:45:00 PM
Wells Fargo & Co. has turned to one of the deans of Philadelphia’s banking community to help expand its middle market commercial lending.The San Francisco-based bank, which is the largest deposit taker in the Philadelphia region, said Wednesday that it was forming an executive advisory board for its commercial banking operations in Pennsylvania. It has tapped Edward Ryan and Willard J. Martin, Jr. to serve in Philadelphia and Pittsburgh, respectively.Ryan has been a lender in the Philadelphia…

In administrative move, judge again denies NFL concussion settlement

Wednesday April 16th, 2014 07:52:00 PM
In what appears simply to be an instance of docket housekeeping, U.S. District Judge Anita B. Brody Wednesday denied preliminary approval of the $765 million settlement between the National Football League and more than 4,500 of its retired players in the concussions case that has been in the spotlight.On Jan. 14, Brody  rejected the settlement, reached shortly after Labor Day, claiming there might not be sufficient funds to cover payouts and medical tests.Lawrence Coben of Anapol Schwartz,…

PA and NJ doctors support 600,000 jobs, generate $3.9B in tax revenue

Wednesday April 16th, 2014 06:55:00 PM
Doctors in Pennsylvania and New Jersey support nearly 600,000 jobs in the two states and generate $3.9 billion in state and local tax revenues, according to a report issued Wednesday by the American Medical Association that touts the economic impact physicians have in the country.Nationally, the study conducted by IMS Health found physicians support 9.97 million jobs, pay $775.5 billion in wages and benefits, generate $65.2 billion in state and local tax revenues and another $1.6 trillion in sales…

Bucks building comes up for auction

Wednesday April 16th, 2014 06:42:00 PM
A property in Warminster, Pa., that had once housed a grocery store and then the Bucks County location for Waterloo Gardens is coming up for auction.The 56,000-square-foot building at 700 Old York Road sits on nine acres and has 450 parking spaces. It has undeveloped pad sites that could offer development opportunities.After Waterloo Gardens left the site, 263 Marketplace moved in and was billed as an “Indoor Shoppers Village.” Somewhat of a flea market, it had a variety of vendors. It closed…


Comments are closed.

Share