Business
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Hatfield-based K’NEX put up for sale by PNC
The manufacturer of the iconic Lincoln Logs and Tinkertoy is up for bid, according to an announcement from PNC Financial Services Group. The public sale of Hatboro-based K’Nex Industries will be Monday, according to the announcement, with the opening bid set at $21 million, writes Patty Tascarella in the Philadelphia Business Journal. [uam_ad id=”54865″] The…
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Could retail branch of JPMorgan Chase be headed for Philadelphia?
There’s nothing official and nothing written in stone, but there were strong hints that JPMorgan Chase is looking at the City of Brotherly Love as a location for a retail branch. The largest U.S. bank announced that it plans to spend $20 billion over the next five years to raise employee wages, increase its small…
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Montco Leaders: Lynne Williams, Philadelphia Area Great Careers Group
By Katie Kohler “Something magical happens when you hit 500,” Lynne Williams says when she hears a LinkedIn is approaching the milestone mark. Williams, right, understands the power of the business and employment social networking service. For close to twenty-five years, she has written cover letters, resumes, value proposition letters and LinkedIn profiles as Chief Wow Office of Around the…
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Malvern Federal to Host Week-Long Meet & Mingle
Sponsored post Malvern Federal’s financial centers will host a week-long Meet & Mingle – from Monday, Jan. 22 to Saturday, Jan. 27 – with refreshments provided to introduce the managers of each location. In a dynamic industry like financial services, staff turnover is not uncommon. However, Malvern Federal knows that means it has to work…
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Comcast makes home automation tech available to all Xfinity customers
In a major move in the home automation space, Comcast is launching a connected home platform to all of its Xfinity customers for no additional cost. The Philadelphia-based media giant announced the news at CES in Las Vegas on Wednesday, saying that it will allow more than 15 millions customers to be able to connect Internet of Things, or…
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Comcast prices set to increase — again
New year, new price hikes. Once again customers of Philadelphia-based Comcast are facing bigger bills for cable and internet service as the media giant rose both its base prices and add-on fees in 2018. An Associated Press report puts the average Comcast customer increase at 2.2 percent this year, with the largest raises coming to subscribers with the popular…
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Montco acquisition leads Herbein & Co. to largest regional firm status
Reading-based accounting firm Herbein & Co. has pushed farther into the Philadelphia market by acquiring Gable Peritz Mishkin (GPM), a firm with locations in Spring House, Pa. and Marlton, N.J. The deal adds five partners, 24 total employees and about $5 million in annual revenue to Herbein & Co, which had 20 partners, 175 employees…
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LodeStar Firearms hopes to develop new smart gun by next year
“My first brush with a gun accident was when I was living in Texas, maybe 15 years ago,” said Gareth Glaser, 65. “One of my colleagues who worked for me was at a barbeque with her 10-year-old. And Texas, it’s got a culture of, I wouldn’t say the Wild West, but gun ownership is fairly…
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WSFS Bank bucking tax-reform trend
Banks are still figuring out how to use the financial windfall coming from the passage of tax reform bill signed into law last month. Most have included enhanced compensation packages for employees, either through one-time bonuses or salary increases. One notable exception is WSFS Financial Corp. (NASDAQ:WSFS), which took several actions including: writing down a deferred tax…
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Bryn Mawr Bank launches multicultural initiative
Bryn Mawr Bank Corporation, parent of The Bryn Mawr Trust Company, recently announced the appointment of Miguel Alban as Vice President of their multicultural banking initiative. Effective January 2, 2018, Mr. Alban will report directly to Anthony Poluch, the bank’s CRA Officer, under the leadership of Joe Keefer, Executive Vice President. “The Delaware Valley is a diverse…
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Prediction: Amazon will buy Target
Amazon.com Inc.’s shakeup of the retail landscape may not be over, according to one well-known technology analyst. The Internet giant will acquire Target Corp., Loup Venture co-founder Gene Munster wrote in a report highlighting eight predictions for the technology industry in 2018. Amazon made waves in retailing last year with its $13.7 billion purchase of…
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Prosecutors seeking $491M from Main Line lender
How much should a racketeering conviction cost a man who for years flouted state laws and preyed upon cash-strapped Americans to build one of the nation’s largest illegal payday-lending empires? More than $491 million, if the government has its way. That’s the sum federal prosecutors in Philadelphia hope to recoup next month from Charles M. Hallinan, the so-called…
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Blue Bell financial planner describes retirement as ‘lifestyle change’
My college roommate, Molly, recently invited me to a mini reunion to mark the 50th anniversary of our high school graduation. Inevitably, the conversation turned to retirement: who was thinking about it, who had done it, how it was working out, writes Janet Bodner for nasdaq.com. One classmate, Marie, had retired as a school psychologist.…
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National Spotlight: Bitcoin continues downward spiral
Bitcoin plunged by more than $2,500 Friday to extend its four-day slide to 31 percent as the frenzy surrounding digital currencies faced one of its biggest tests yet. The world’s largest cryptocurrency sank below $13,000 as this week’s selloff entered a fourth day with increasing momentum. Other cryptocurrencies also tumbled, with bitcoin cash crashing 35…
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Vanguard Group breaks ground at new Malvern location
The Vanguard Group broke ground Monday on an office building situated on the 87-acre Malvern plot acquired five years ago from Pfizer. The 240,000-square-foot, four-story building will accommodate up to 1,600 employees, which Vanguard calls crew, and will offer 300 collaborative working spaces. It will be constructed next to two existing Vanguard buildings on the same plot and…
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King of Prussia- based MedRisk now in the hands of Carlyle Group
Carlyle Group, whose investments range from oil refineries to nursing homes, says it has agreed to buy out Boston-based health-care investor TA Associates as majority owner of MedRisk, a King of Prussia-based maker of workers’ compensation software. MedRisk founder Shelley Boyce, chief executive Mike Ryan, and other managers will stay in place and continue to…
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Bryn Mawr Bank completes $138.5M purchase of Narberth-based Royal Bank
Bryn Mawr Bank Corp. closed its acquisition of Royal Bancshares of Pa. Friday and named Royal CEO Kevin Tylus to the newly created position of president of bank subsidiary Bryn Mawr Trust Co. The all-stock transaction was originally priced at just below $128 million when announced in January. But upon closing, it was valued at $138.5…
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Nearly everything you need to know about Bitcoin
Bitcoin, the privatized digital currency, regained much of its value after plunging 20 percent, climbing back to nearly $10,500 by mid-afternoon a couple of weeks ago, and topping $11,000 again last week. The cryptocurrency’s rocketing ride shows no sign of slowing. And opinions about the Bitcoin phenomenon vary as wildly as its price, writes Sam Wood…
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