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Business
Ed Rendell Leads Effort to Buy Philadelphia Media Network
 
  by: iradiotom - Philadelphia, PA
started: 02/04/12 5:47 am | updated: 02/04/12 5:47 am
 
Former Gov. Ed Rendell has assembled a group that has offered to buy the owner of The Inquirer, the Philadelphia Daily News, and Philly.com The group consists of corporate and political leaders including New Jersey businessman Lewis Katz; Comcast-Spectacor chairman Edward M. Snider; William P. Hankowsky, chief executive of Liberty Property Trust; George E. Norcross III, insurance executive, New Jersey Democratic leader, and chairman of the board of Cooper Health System and Cooper University... Read More
 
 
Business
Pep Boys to be Sold for $1 Billion
 
  by: iradiotom - Philadelphia, PA
started: 01/30/12 8:52 am | updated: 01/30/12 8:52 am
 
Manny, Moe and Jack are getting new bosses. Pep Boys has agreed to be purchased by private investor, the Gores Group.

The Philadelphia-based auto parts and service retailer said the deal is for $15 per share, a 24 percent premium over Friday's closing price. The enterprise value of the deal is $1 billion, Pep Boys said.

According to a Gores Group spokesperson, “For over 90 years, Pep Boys has been the leading automotive service and retail chain and we look... Read More
 
 
Business
Sunoco Still Searching For Refinery Buyers
 
  by: iradiotom - Philadelphia, PA
started: 01/21/12 7:03 am | updated: 01/21/12 7:03 am
 
The Sunoco refinery in Marcus Hook is closed and the refinery in Philadelphia will close by July if Sunoco can't find a buyer for it.

The Philadelphia Business Journal is reporting that there are several interested buyers.

ConocoPhillips has a refinery in Trainer that it has closed and is trying to sell.
On the Sunoco side, spokesman Thomas Golembeski said the company has "interest from third parties and [is] continuing to pursue a sale of both... Read More
 
 
Business
Southwest Airlines to Upgrade Interiors
 
  by: iradiotom - Philadelphia, PA
started: 01/21/12 6:46 am | updated: 01/21/12 6:46 am
 
Philadelphia's second busiest airline, Southwest, will give its aircraft interiors a cosmetic and environmental makeover.

The cabin updates include recyclable carpet, a brighter color-scheme and a more durable, eco-friendly, and comfortable low-profile seat that weighs less than the current seat. The new interior also boosts the number of seats onboard from 137 to 143 while increasing under-seat room for carryon luggage.

"We are preparing now for our next 40 years... Read More
 
 
Business
Gino's Burger Joints Poised to Make a Comeback in Philadelphia
 
  by: iradiotom - Philadelphia, PA
started: 01/17/12 8:02 am | updated: 01/17/12 8:02 am
 
Philadelphia lost the last of its Gino's Hamburger joints in 1982 when Marriott bought the company and replaced them with Roy Rogers restaurants. But now, Gino's is making a comeback, led by the original founder Gino Marchetti. A few Gino's are open already including King of Prussia, where 85 year old Gino Marchetti himself can be found working in the kitchen. Gino hopes to expand into downtown Philly this year. Who's up for a Gino Giant?

Gino's last shop closed in Maryland... Read More
 
 
Business
Yuengling is now the Largest American Brewery
 
  by: iradioal - Philadelphia, PA
started: 01/16/12 10:04 am | updated: 01/16/12 10:04 am
 
D.G. Yuengling and Son, based in Pottsville, PA, has become the largest domestically owned brewery, passing Sam Adams maker Boston Beer. Last year, Yuengling's shipments rose 16.9% to 2.5 million barrels, where Boston Beer only rose 8% to 2.4 million barrels.

What about the #1 beer in the USA, Bud Light? Well that's made by Anheuser-Busch, which is owned by Belgium based Anheuser-Busch InBev. The #2 beer is Coors Light made by MillerCoors, but that's owned by London based... Read More
 
 
Business
16 Philadelphia Genaurdi's Supermarkets Sold
 
  by: iradiotom - Philadelphia, PA
started: 01/05/12 10:13 am | updated: 01/05/12 10:13 am
 
Giant Foods announced it will pay $106 million for 16 Genuardi's stores in the Philadelphia market. Three other Genuardi's stores will be closed and eight Genuardi's locations are still for sale, parent Safeway Inc. said separately, and the Genuardi's name is apparently on its way out.

The Philadelphia Business Journal reports that the 16 stores being acquired by Giant will bear the Giant name. The deal is expected to close by midyear. With the 16 stores, Giant will have 56... Read More
 
 
Business
A Chance Remains to Save Philadelphia Refinery Jobs
 
  by: iradiotom - Philadelphia, PA
started: 12/22/11 11:03 am | updated: 12/22/11 11:03 am
 
There is still a chance that buyers will be found for the Philadelphia-area refineries that have closed or are being closed by Sunoco and ConocoPhillips, the Philadelphia Inquirer reports.

"Sunoco Inc. [NYSE:SUN] and ConocoPhillips [NYSE: ] are shopping their Delaware River refineries to a small group of potential buyers who might keep them open, saving about a thousand threatened jobs," the Inquirer said. Potential drawbacks to deals include the fact that the plants were made to... Read More
 
 
Business
Philadelphia Franklin Mills Mall Gets a JC Penney Again
 
  by: iradiotom - Philadelphia, PA
started: 12/22/11 10:59 am | updated: 12/22/11 10:59 am
 
J.C. Penney will be returning to the Franklin Mills mall in Philadelphia as a full-line store.

According to the Philadelphia Business Journal, the retailer had planned to close 19 outlet stores, including its Franklin Mills location.

In March, it will open a 100,000-square-foot store in the same space, a mall spokesperson said. It will have an updated design and an assortment of professional-and-lifestyle attire for men, women and children.

J.C.... Read More
 
 
Business
Citizen Bank Branches Closing and Laying Off
 
  by: iradiotom - Philadelphia, PA
started: 12/19/11 7:00 am | updated: 12/19/11 7:00 am
 
Citizens Bank's plans to close nine Philadelphia-area branches and lay off 250 employees has been detailed in a recent filing.

Citizens said it would be consolidating a Broomall location in the Acme Supermarket at 1991 Sproul Road into a branch in the Lawrence Park Shopping Center. It will also be consolidating its Flourtown site from 1461 Bethlehem Pike into a Bethlehem Pike and East Mill Road branch.

In addition, Citizens said it would be closing the following... Read More
 
 
 
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