From the Philadelphia Business Journal

Big banks say their legal costs are tumbling, and that bodes well for companies in Philadelphia
Friday May 18th, 2018 09:08:15 PM Jeff Jeffrey
The nation’s largest banks — and public companies, for that matter — are preparing for a timeout from the courtroom following years of being pummeled by shareholder and investor lawsuits in the wake of the Great Recession. And several of the Philadelphia region's largest public companies are among those with the highest legal bills.At the end of 2017, the country's largest banks collectively decreased their estimates for future legal costs to their lowest levels since 2012, and legal experts…
IBC, Rothman sign long-term deal
Friday May 18th, 2018 06:34:32 PM John George
Independence Blue Cross and Rothman Institute have signed a new five-year agreement that makes Rothman the first large independent physician group to join Independence’s facilitated health networks model.The new agreement becomes effective July 1.Based in Center City, Rothman is the region's largest orthopedic medical group. It has surgeons and more than two dozen outpatient care centers throughout the Philadelphia region, including South Jersey.Independence's facilitated health networks…
Two years after emerging from bankruptcy, Please Touch Museum switches up branding
Friday May 18th, 2018 06:22:39 PM Kenneth Hilario
Other cultural stalwarts, the Philadelphia Museum of Arts and Mural Arts Philadelphia, in the last five years adopted their own new visual identities and branding.
New bill would protect Phila. neighborhood groups from lawsuit-happy developers
Friday May 18th, 2018 05:19:15 PM Jake Blumgart
City Councilman Bobby Henon has introduced a bill that would make city funds for insurance available to all registered community groups that hold zoning meetings regarding new development projects in their neighborhoods. A response to a spate of lawsuits that nearly put several of prominent civic associations out of business, the proposed legislation intends to protect neighborhood groups against lawsuits intended to silence their voices as projects go under public review.“These are groups…
Philadelphia Unions soccer club teams up with Fanatics
Friday May 18th, 2018 04:27:59 PM John George
The Philadelphia Union has signed a long-term partnership with Fanatics, a Florida-based sports merchandise company that will manage all of the Major League Soccer team’s retail operations.Financial terms of the deal were not disclosed.Under the agreement, Fanatics will manage in-venue retail operations for the Union and Talen Energy Stadium. Fanatics already operates e-commerce for the club through its partnership with Major League Soccer.Fanatics has already renovated and expanded multiple…
Mother Nature won't stop it: Eagles Autism Challenge to go on rain or shine
Friday May 18th, 2018 04:00:22 PM John George
The Eagles inaugural Autism Challenge, created to supporting innovative autism research and treatment programs, kicks off Friday night and continues with cycling rides and 5K run/walk fund-raising event Saturday.The Eagles said Friday the event will go on rain or shine – but road and weather conditions may alter specific aspects of the 30-mile and 50-mile bike routes. "Due to the impending weather facing the tri-state region, we are closely monitoring the forecast to determine the best-case…
Reports of altered documents again call Wells Fargo risk management into question
Friday May 18th, 2018 03:30:41 PM Caroline Hudson
Wells Fargo & Co. employees added or altered information in documents for corporate customers within wholesale banking without their knowledge, according to a Thursday report from The Wall Street Journal.The WSJ report says the incidents happened in 2017 and earlier this year, as employees were working to meet a June 30 deadline in compliance with a November 2015 consent order handed down by the Office of the Comptroller of the Currency regarding anti-money-laundering controls. This particular…
San Francisco tech firm scoops up another Philadelphia company
Friday May 18th, 2018 02:52:11 PM Michelle Caffrey
Hero Digital, which counts major brands like Sephora and Microsoft as clients, is doubling down on the region — and talent plays a major role.
Campbell Soup Co. CEO Denise Morrison abruptly retires
Friday May 18th, 2018 01:04:08 PM Kenneth Hilario
Denise Morrison, chief executive of Campbell Soup Co., has retired from the position she's had for seven years.Morrison retired as president, CEO and director of the soup company, effective Friday, and she will be replaced by Keith R. McLoughlin, who will act as interim CEO, Campbell announced on Friday morning.Morrison became president and CEO of the Camden, N.J.-based soup company in 2011, the first woman to the lead the company.McLoughlin, 61, has been a Campbell board member since 2016,…
PUC orders PECO gas, PPL electric, 15 more utilities to give customers share of $320M
Friday May 18th, 2018 12:31:52 PM Alison Burdo
Customers of 17 major electric, natural gas, and water and wastewater utilities will see credits on their monthly bills following an order by the Pennsylvania Public Utility Commission to refund more than $320 million to consumers."The refunds to consumers are the result of the substantial decrease in federal corporate tax rates and other tax changes under the Tax Cuts and Jobs Act (TCJA) of 2017, which impacted the tax liability of many utilities," the PUC said Thursday in a news release.The…





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