Friday, November 20, 2009
Park City mall operator, lenders agree on debt rework
Mall operator General Growth Properties Inc., which filed the largest U.S. real estate bankruptcy case in history earlier this year, said Thursday its lenders have agreed to restructure some $8.9 billion in shopping mall mortgage loans.
Source: Lancaster New Era/(Lancaster) Intelligencer Journal
Harrisburg post office site back on list for courthouse
The General Services Administration is again interested in the Market Street post office site as a location for the proposed new federal courthouse in Harrisburg, sources say Mayor Stephen R. Reed said during a meeting Wednesday of the Historic Harrisburg Association.
Source: The (Harrisburg) Patriot-News
Shippensburg zoning changes would add taverns, arcades
Taverns, tattoo parlors and video arcades would be listed in proposed changes to the Borough of Shippensburg zoning ordinance. The three uses are not currently addressed in the zoning ordinance.
Source: The (Carlisle) Sentinel
Lender sues Calif. firm over missing equipment
A local lender is suing a California-based medical equipment supplier because it claims the company borrowed $3 million to outfit a York County surgical center but never produced the equipment, according to the suit filed last month in the Court of Common Pleas of York County.
Source: Central Penn Business Journal
State unemployment rate unchanged
Pennsylvania's economy improved slightly in October, with the state gaining 10,600 jobs from September, boosting the total jobs count to 5.61 million, the state said Thursday.
Source: Pittsburgh Tribune-Review
Reports suggest economy's slowly rebounding
A spate of reports yesterday from Philadelphia and across the nation pointed to an economy that, finally, is stabilizing and beginning to turn around, though slowly and weakly.
Source: The Philadelphia Inquirer
House panel OKs Fed audit, financial-failure fees
The House Financial Services Committee voted yesterday to assess fees on large financial institutions to cover the costs of failure by their peers. It also moved to require a sweeping congressional audit of the normally secretive Federal Reserve.
Source: The Philadelphia Inquirer
Thursday, November 19, 2009
Harley workers will see tentative contract Friday
An official with the union representing workers at Harley-Davidson's Springettsbury Township operations said the union plans to present a tentative new contract to workers Friday ahead of a vote in early December.
Source: York Daily Record/York Sunday News
Cadbury bid wouldn't be easy for Hershey, analysts say
The Hershey Co. might have concocted a recipe for enlarging its global sales by partnering with Italian candymaker Ferrero SPA to swallow up British confectioner Cadbury. The Hershey Co. confirmed Wednesday that it is "reviewing its options" regarding a Cadbury bid.
Source: The (Harrisburg) Patriot-News
Red Rose Transit backs tolls on I-80
Toll booths on Interstate 80 across northern Pennsylvania — at least a two-hour drive from Lancaster — are important to people in Lancaster, said David Kilmer, executive director of Red Rose Transit Authority.
Source: Lancaster New Era/(Lancaster) Intelligencer Journal
Lebanon-Harrisburg commuter rail possible, study says
Modern Transit Partnership President John Ward presented the results of a preliminary feasibility study to about a dozen local municipal officials and residents at a meeting at the Lebanon HACC campus Wednesday.
Source: Lebanon Daily News
York Wallcoverings looks for the right mix
Motorists passing York Wallcoverings' Linden Avenue factory may be deceived by the building's boring brick exterior, while inside a fantastic operation plays out.
Source: The York Dispatch
FHA-backed lending is a 'train wreck,' Toll says
The Federal Housing Administration, the agency that insures home purchases made with down payments as small as 3.5 percent, may create another lending crisis, Toll Brothers Inc. CEO Robert Toll said. Toll Brothers is largest U.S. luxury homes builder.
Source: Pittsburgh Post-Gazette
Post-mortems reveal obvious risk at banks
In what sounds like an episode of "CSI: Wall Street," dozens of government investigators — the coroners of the financial crisis — are conducting post-mortems on failed lenders across the nation. Their findings paint a striking portrait of management missteps and regulatory lapses.
Source: The New York Times
Wednesday, November 18, 2009
Hershey officials mum on possible joint bid for Cadbury
Just when it looked as if Kraft Foods and its $16.7 billion bid for British candymaker Cadbury might be the only deal in town, published reports have The Hershey Co. in "high-level talks" with Italian chocolate maker Ferrero SPA to possibly craft a joint bid for Cadbury PLC.
Source: The (Harrisburg) Patriot-News
Right-to-work bills reintroduced in Pa. House
A series of bills has been reintroduced in the state House that, if passed and enacted, would make Pennsylvania a right-to-work state. Right-to-work means laws would be on the books that say an employee would not have to join a union to work for a business with a union in place.
Source: York Daily Record/York Sunday News
Special session on Harley possible for Ky. legislature
The governor of Kentucky might call a special session of the legislature there to deal with incentives for Harley-Davidson, said Mandy Lambert, communications director for the Kentucky Cabinet for Economic Development.
Source: York Daily Record/York Sunday News
Harley choice hinges on states, Pa. factory's workers
As Harley-Davidson Inc. weighs whether to move its York County factory to Kentucky, some observers question which is more important: the contract with its work force or economic development deals from Kentucky and Pennsylvania?
Source: Central Penn Business Journal
York Twp. cinema pushes opening back to March
A 13-screen cinema under construction in York Township won't roll out the red carpet until March. But when it is finished, the facility will boast a more expansive suite of entertainment options than previously announced.
Source: The York Dispatch
Pa. milk, pork producers hope worst is over
Carl Shaffer, president of the Pennsylvania Farm Bureau, hopes the worst is over for Pennsylvania farmers. Milk and pork producers have had a lousy 2009, and pending legislation involving so-called CAP-and-Trade regulations, Chesapeake Bay cleanup and immigration reform could produce future headaches for all farmers.
Source: Lebanon Daily News
U.S. wholesale prices show few inflation pressures
Wholesale prices in the United States increased only slightly in October, the Labor Department said Tuesday, easing concerns that inflation might soon emerge as a threat to the economic recovery in a period of extraordinarily low interest rates.
Source: The New York Times
Wall Street on track for record in profits
Ten months ago, President Obama said a time would come for Wall Street to make profits and pay bonuses, but "now's not that time." But it appears that was exactly when Wall Street began to return to profitability.
Source: The New York Times
Gold continues its rise, while Asian stocks gain
Gold hit another all-time high today on worries about future inflation and economic uncertainties, while Asian stocks rebounded as the generally bearish dollar kept riskier assets in demand.
Source: The New York Times
Tuesday, November 17, 2009
Lancaster mayor looks for business backing
Lancaster Mayor Rick Gray on Monday made an impassioned plea to the county's business community for support in mending the city's troubled finances.
Source: Central Penn Business Journal
More layoffs for Pa. state workers
Blaming the tough economy and deep budget cuts, the Rendell administration announced yesterday it would lay off 319 more employees across 10 state agencies, bringing to 769 the total number of government jobs cut over the past year. The lion's share of the latest cuts are in environmental protection and state parks.
Source: The Philadelphia Inquirer
Lancaster mapping company closing
GeoNova Publishing, a mapping company in Flyway Business Park, is closing at the end of the month, idling about 20 remaining employees.
Source: Lancaster New Era/(Lancaster) Intelligencer Journal
York Housing Authority to ask for land swap
The York Housing Authority hopes to present a resolution to the York City Council this week that would allow the swap of Thackston Park and Codorus Homes lands to make way for new housing.
Source: York Daily Record/York Sunday News
Plan to raise Cumberland County hotel tax progresses
A proposal to increase Cumberland County's hotel tax to 3 percent starting in January took a step forward Monday afternoon when county commissioners advertised the plan for public consideration.
Source: The (Harrisburg) Patriot-News
Hanover-area business moves to 'green' space
The old building Conewago Enterprises used as a main office was first built in 1956, and it wasn't very efficient in either the use of energy or space.
Source: The (Hanover) Evening Sun
Satisfaction index a sign of optimism for holidays
Stressed-out consumers want comfort food and comfortable clothes at the right price, and the fact that they're relatively satisfied overall with what they're getting may boost holiday shopping.
Source: Pittsburgh Post-Gazette
FHA not the new subprime, commissioner says
Federal Housing Administration Commissioner David Stevens said that concerns the agency is headed for the same financial trouble that snared Fannie Mae, Freddie Mac and the subprime sector are unwarranted.
Source: Pittsburgh Tribune-Review
Work-related injuries under-reported
Employers and workers routinely under-report work-related injuries and illnesses, calling into question the accuracy of nationwide data that the Occupational Safety and Health Administration compiles each year, the Government Accountability Office said Monday.
Source: The New York Times
Monday, November 16, 2009
Harrisburg-area businesspeople cautiously optimistic
They were the questions heard again and again in the Harrisburg expo hall where dozens of midstate businesses sported their wares last week: "Are things picking up?" "How's business?" "You still doing okay?"
Source: The (Harrisburg) Patriot-News
Appliance chain coming to Hampden Township
The former Circuit City store on the Carlisle Pike in Hampden Township won't be empty much longer. Indianapolis-based appliance and electronics retailer hhgregg has leased the vacant space with plans to open a store there sometime in late spring of 2010.
Source: The (Harrisburg) Patriot-News
Medical office may be built in Manheim Township
A long-vacant gas station at Oregon Pike and Roseville Road might be replaced with a two-story medical office building next year. Ponessa Manual Therapy, now on Crown Avenue, would move to the new structure and rename itself Ponessa Medical Massage.
Source: Lancaster New Era/(Lancaster) Intelligencer Journal
State offers financing programs for entrepreneurs
Despite a weak economy, there are millions of dollars available to help technology and life-sciences companies and start-up businesses. One source of funding is the Pennsylvania Department of Community and Economic Development.
Source: Lebanon Daily News
Little benefit seen, so far, in electronic patient records
The nation is set to begin an ambitious program, backed by $19 billion in government incentives, to accelerate the adoption of computerized patient records in doctors' offices and hospitals, replacing ink and paper.
Source: The New York Times
Retailers want satisfied customers, but don't deliver
Customer satisfaction has become such a scarce commodity in the business world, it's now a selling point at a time when companies are increasingly desperate for shoppers' dollars.
Source: The (Allentown) Morning Call
This Week's Most Read Articles
