Business
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Unisys to Settle Future Pension Obligations with $216 Million Lump-Sum Payment
Blue Bell’s Unisys has announced that it is settling with 5,800 former employees over their future pension payments with a lump sum amount of $216 million, writes Rob Kozlowski for Pensions & Investments. The payment is for employees who are vested in the plan but have yet to retire. According to Unisys, the payment will…
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Collegeville Student’s App Finalist in Global Startup Competition
A 17 year old high school student from Collegeville who has created the app MeetHere is a finalist in a global competition of startups, writes Diane Mastrull for Philly.com. Manshu Sharma is a native of India who lives with his parents in Collegeville. He cofounded MeetHere over the summer with three other high school students…
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Baird’s Economic, Stock Market Outlook Shows Careful Optimism for Coming Year
Despite the political uncertainties brought on by November’s presidential election results, 2017 is shaping up to be a positive year for both the economy and the markets, according to Baird’s 2017 Economic & Stock Market Outlook report. The path for sustained growth has already been planted under the current administration, and 2017 will most likely…
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Pennsylvania’s Highest-in-Nation Gas Tax About to Increase … Again
More money from filling gas tanks is about to spill out onto the state’s roads and bridges as the third and final gas tax increase since 2013 goes into effect on Jan. 1. Authorized by Act 89 three years ago, Pennsylvania’s highest-in-the-nation gas tax will go up eight cents per gallon, or 16 percent, according…
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SAP and IKEA Two of 50 Best Workplaces for Diversity Nationwide
Proving that diversity is not just a buzzword for them, both Conshohocken’s IKEA at 23rd and Newtown Square’s SAP America at 41st are on the recently released Fortune Magazine’s list of the 50 best workplaces for diversity, writes Michelle Caffrey for Philadelphia Business Journal. IKEA, with around 15,000 workers in the U.S., reported that 20…
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Republic First Bancorp Elects Vernon W. Hill, Completes $100M Common Stock Offering
Republic First Bancorp, the holding company for Republic First Bank with offices in Abington, Bala Cynwyd, Plymouth Meeting, and Wynnewood, has elected Vernon W. Hill, II as its new Director and Chairman. Hill, who is credited with reinventing Retail Banking, has an impressive resume that includes being the Founder and Chairman of Commerce Bancorp, the…
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Malvern Bancorp Hires New Exec to Work with Nonprofits, Independent Schools
Malvern Bancorp, the parent company of Malvern Federal Savings Bank, has recruited Patricia McLennan to join the organization in January 2017, and serve as Senior Vice President and Director of Community Development, dealing specifically with nonprofits and independent schools. McLennan will be working with the CEO and executive management team in handling and coordinating internal…
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Wynnewood’s Exactor Secures $3.3M in Private Equity Financing
Exactor the tax software company from Wynnewood has managed to secure $3.3 million in funds through private equity financing, writes Michelle Caffrey for Philadelphia Business Journal. The 40-person company, which has been steadily growing since it was founded a decade ago, has created a sales tax suite which provides end-to-end, automated tax solutions for small…
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Conshohocken’s Firstrust Bank to Present 5th Annual Business First Awards
Conshohocken’s Firstrust Bank is gearing up for its fifth Business First Awards which honors local businesses that have a positive impact in the community. Started in 2012, the Business First Awards celebrate companies with exemplary business ideals, and has already awarded over $150,000 to local businesses and charities. The BFA differs from other awards as…
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Conshohocken’s TechWise Group to Gift Local Nonprofits with Cloud Technology
TechWise Group from Conshohocken has announced it is starting a program which will help a regional nonprofit to elevate to cloud technology. Titled “Cloud for a Cause,” the program will have a panel of judges from the region in different industries, which will select from a diverse group of nominees and award the winners with…
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Wisler Pearlstine Unveils New, Cutting-Edge Website
Blue Bell’s Wisler Pearlstine, LLP is pleased to announce the rollout of its new website. Featuring a cutting-edge design, easy navigation, and a simple color palette, the new website accurately portrays the firm’s experienced team, diverse practice areas, and core values. The process to redesign and update the website was a true collaborative effort with…
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Glaxo Moving Bulk of Its Research and Discovery Operations to Montgomery County
GlaxoSmithKline has decided to consolidate its global drug research and discovery operations into two big hubs with one of them in Upper Providence Township, writes Linda Loyd for Philly.com. The company, which already employs 5,000 people in the Philadelphia area, is planning to spend close to $250 million on the construction of four floors of…
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From Sipping a Pint of Guinness in Ardmore to Lucrative Business Concept
Thanks to an idea its founder had while enjoying a pint of beer at his favorite Ardmore pub, West Conshohocken’s TAPP Technologies is planning to revolutionize the beer marketing industry, writes Aswin Mannepalli for Philly.com. Jamie Robinson realized that by placing a sensor in a beer tap, it would be possible for beer manufacturers to…
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Vanguard Expects U.S. Economy Will Continue to Grow at Modest Pace
According to the experts at Vanguard, the U.S. economy continues to grow at a modest pace. In the following video, Chief Economist for the Americas Roger Aliaga-Díaz and Senior Investment Strategist Andrew J. Patterson discuss their expectations for the economy as we head into 2017 and what that means for investors. “We have a lot of…
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Willow Grove Entrepreneur Turns Free Service Software into Thriving Company
Willow Grove’s Michael Kansky has combined his customer service and computer skills to create one of the fasted growing companies in the country, writes Stacy Wescoe for LVB.com. The Ukrainian born founder and CEO of LiveHelpNow started his career in IT where he first noticed the ongoing issues between customers and IT support. “I was…
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Malvern Bancorp Reports 565 Percent Increase in Net Income from This Time Last Year
Malvern Bancorp continues to prosper, as the parent company of Malvern Federal Savings Bank has reported strong operating results for the fourth fiscal quarter ended September 30, 2016. Net income amounted to $7.7 million, or $1.21 per fully diluted common share, for the quarter ended September 30, 2016. That represents an increase of $6.6 million,…
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Montgomery County Leadership: David E. Sparks, Chairman and Founder of First Priority Bank
MONTCO Today speaks with David E. Sparks, Chairman and Founder of First Priority Bank and Chairman and CEO of First Priority Financial Corporation about growing up in Upper Merion when farms, instead of malls and shopping plazas, lined Route 202, playing varsity basketball in high school and then college, running a string of 24 officers’…
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Unisys Reports Strong Cash Flow Growth for Third Quarter
Blue Bell’s Unisys, the global information technology company, has announced strong cash flow growth in its third quarter 2016 report. Operating cash flow grew by $87 million compared to $43 million last year and its adjusted free cash flow for the third quarter grew by $105 million year-on-year. This marks the fourth consecutive quarter of…
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