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Knight Ridder Tribune Business News By Kenneth R. BlankenshipThe purpose of every concern is to be a growth body corporate and the industrial news all around you provides a step-by-step manual based on the experiences of your peers. The resources available at the Knight Ridder Tribune results in the widest possible range of news stories across many industries and dozens of geographical locations.
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City ordinance will be amended to protect gay people Ever since the idea for amending the Jacksonville anti-discrimination ordinance to include gay people came up a couple of weeks ago, people have been wondering why Mayor Alvin Brown has declined to address the issue head on, which seems to be his style on just about any topic you can name.
We argue in Friday?s Jacksonville Business Journal editorial that when all is said and done, it really won?t matter what the Mayor says on this issue. Chances are, the ordinance will be amended by the City...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=hjm5D5dg2qg:lXE0xTBWe6I:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=hjm5D5dg2qg:lXE0xTBWe6I:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=hjm5D5dg2qg:lXE0xTBWe6I:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=hjm5D5dg2qg:lXE0xTBWe6I:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=hjm5D5dg2qg:lXE0xTBWe6I:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=hjm5D5dg2qg:lXE0xTBWe6I:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=qj6IDK7rITs" border="0"></img></a>
</div>Wells Fargo No. 1 SBA 7(a) lender in Florida<img src='http://assets.bizjournals.com/jacksonville/images/BOL-Wells-Fargo*100.jpg?v=2'>Wells Fargo was the No. 1 Small Business Administration 7(a) lender in 12 states ? including Florida ? for the first six months of federal fiscal year 2012.
SBA 7(a) loans are given to qualifying businesses in a wide range of industries that generally have average revenue of less than $20 million and 500 or fewer employees.
The other states in which the San Francisco-based bank (NYSE: WFC) led in 7(a) lending included Alaska, Arizona, California, Colorado, Minnesota, North Carolina, Nevada,...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=zhLlsUG-XA0:UNJvNvLvxsg:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=zhLlsUG-XA0:UNJvNvLvxsg:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=zhLlsUG-XA0:UNJvNvLvxsg:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=zhLlsUG-XA0:UNJvNvLvxsg:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=zhLlsUG-XA0:UNJvNvLvxsg:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=zhLlsUG-XA0:UNJvNvLvxsg:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=qj6IDK7rITs" border="0"></img></a>
</div>Ideas abound to fix Downtown, but which are gaining traction?<img src='http://assets.bizjournals.com/jacksonville/blog/SkylinefromRiversidecarousel550*100.jpg?v=1'>Of all the issues Downtown revitalization faces, a shortage of ideas isn?t one of them.
Sidewalk cafes. The transformation of a blighted corner into a boutique hotel and urban chic apartments. A new convention center.
Then there are the ideas Mayor Alvin Brown has put out there in recent weeks: The private investor fund for revitalization projects and putting out a request for proposals to take inventory of vacant properties.
In tomorrow?s print edition, we take a closer look at the ideas...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=YVKeHRzWkec:nm5y40y3jHw:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=YVKeHRzWkec:nm5y40y3jHw:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=YVKeHRzWkec:nm5y40y3jHw:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=YVKeHRzWkec:nm5y40y3jHw:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=YVKeHRzWkec:nm5y40y3jHw:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=YVKeHRzWkec:nm5y40y3jHw:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=qj6IDK7rITs" border="0"></img></a>
</div>JPMorgan Chase trading loss to increase by at least $1 billion<img src='http://assets.bizjournals.com/sanjose/news/4-jp%20morgan%20chase%20logo*100.jpg?v=1'>The $2 billion loss from a JPMorgan Chase & Co. investment office is could increase by at least 50 percent, the New York Times reports.
CEO Jamie Dimon announced the loss last week, and said they could double within the next few quarters, the NYT reported.
The FBI has launched a preliminary investigation into the bank.
JPMorgan Chase & Co. (NYSE: JPM) is the thirty-ninth-largest bank in Northeast Florida, with $12 million in local deposits and 1 branch.<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=ZuTWudmTAic:mvcAY9buOHU:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=ZuTWudmTAic:mvcAY9buOHU:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=ZuTWudmTAic:mvcAY9buOHU:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=ZuTWudmTAic:mvcAY9buOHU:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=ZuTWudmTAic:mvcAY9buOHU:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=ZuTWudmTAic:mvcAY9buOHU:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=qj6IDK7rITs" border="0"></img></a>
</div>Southwest slows fleet growth, ups dividend<img src='http://assets.bizjournals.com/stlouis/Southwest_Boeing_737_Promo*100.jpg?v=1'>Southwest Airlines announced Wednesday that it plans to slow down its fleet growth as part of its plan to hit profit targets, the Dallas Business Journal reports.
?The delivery deferrals will reduce our capital spending roughly $1 billion, in total, for 2012 through 2014, supporting our desire to strengthen our free cash flow in an uncertain economic and fuel cost environment,? said Gary Kelly, Southwest?s president, chairman and CEO, at Wednesday?s annual shareholder meeting.
The aircraft...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=RJhh3w6Zo9I:75G3r0hOiLA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=RJhh3w6Zo9I:75G3r0hOiLA:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=RJhh3w6Zo9I:75G3r0hOiLA:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=RJhh3w6Zo9I:75G3r0hOiLA:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=RJhh3w6Zo9I:75G3r0hOiLA:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=RJhh3w6Zo9I:75G3r0hOiLA:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=qj6IDK7rITs" border="0"></img></a>
</div>Wells Fargo customers in Florida to get $7 fee<img src='http://assets.bizjournals.com/jacksonville/images/BOL-Wells-Fargo*100.jpg?v=2'>Wells Fargo customers in Florida with Essential Checking accounts will be charged a $7 monthly fee starting in September unless they keep a $1,500 minimum daily balance or have $500 a month directly deposited, the Sun Sentinel reports.
The fee will go to $5 if customers are willing to get online instead of paper statements.
Wells Fargo (NYSE: WFC) is the third-largest bank in Northeast Florida with 62 offices, $6.1 billion in area deposits and a market share of 13.22 percent.<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=YquN07iKV0Y:WFrBJACfkQ8:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=YquN07iKV0Y:WFrBJACfkQ8:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=YquN07iKV0Y:WFrBJACfkQ8:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=YquN07iKV0Y:WFrBJACfkQ8:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=YquN07iKV0Y:WFrBJACfkQ8:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=YquN07iKV0Y:WFrBJACfkQ8:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=qj6IDK7rITs" border="0"></img></a>
</div>Wells Fargo asks for reversal of $203M overdraft damages<img src='http://assets.bizjournals.com/jacksonville/images/BOL-Wells-Fargo*100.jpg?v=2'>Wells Fargo & Co. is seeking a reversal of a judgment that orders it to pay California customers $203 million for manipulating debit-card transactions to boost overdraft fees, Bloomberg reports.
Wells Fargo (NYSE:WFC) asked a federal appeals court to throw out the judgment, saying the lawsuit claims are preempted by federal banking law.
The suit came after customers alleged the bank changed its treatment of debit-card transactions and cash withdrawals in 1999 to boost overdraft fees.
Wells Fargo...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=pJ7wt2JPgr0:FcOpMDbvgl4:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=pJ7wt2JPgr0:FcOpMDbvgl4:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=pJ7wt2JPgr0:FcOpMDbvgl4:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=pJ7wt2JPgr0:FcOpMDbvgl4:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=pJ7wt2JPgr0:FcOpMDbvgl4:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=pJ7wt2JPgr0:FcOpMDbvgl4:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=qj6IDK7rITs" border="0"></img></a>
</div>Bank of America sheds branches<img src='http://assets.bizjournals.com/austin/news/BankofAmerica%20icon*100.jpg?v=1'>In an effort to shave costs, Bank of America Corp. closed 154 banking centers and 631 ATMs in the first quarter, the Phoenix Business Journal reports, citing a securities filing from the Charlotte-based banking giant.
BofA (NYSE:BAC) said the number of online banking customers increased by 374,000 and mobile customers by 2.7 million during the first quarter, reflecting customers? changing preferences.
BofA sold 15 branches in Maine last month. The Charlotte Business Journal at that time reported...<div class="feedflare">
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</div>Judge keeps Hostess Brands' union contacts intact<img src='http://assets.bizjournals.com/denver/news/HostessTwinkiesWeb*100.JPG?v=2'>A U.S. Bankruptcy Judge has told Irving-based Hostess Brands Inc. that its labor contracts with the International Brotherhood of Teamsters union will stay in place.
The company had sought to throw out its agreement as it struggles with its second Chapter 11 bankruptcy reorganization it the past couple years.
?We told our Hostess members all along that we would vigorously oppose the imposition of unjust working conditions since Hostess first filed bankruptcy, and we have done just that,? Teamsters...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=2vL_1RCOJzg:KbzSi3X3wHA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=2vL_1RCOJzg:KbzSi3X3wHA:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=2vL_1RCOJzg:KbzSi3X3wHA:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=2vL_1RCOJzg:KbzSi3X3wHA:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?i=2vL_1RCOJzg:KbzSi3X3wHA:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_jacksonville?a=2vL_1RCOJzg:KbzSi3X3wHA:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_jacksonville?d=qj6IDK7rITs" border="0"></img></a>
</div>Stein Mart reports first quarter earnings<img src='http://assets.bizjournals.com/jacksonville/Stein-Mart-550*100.jpg?v=1'>Stein Mart (Nasdaq: SMRT)
Sales: $303.4 million, flat from $303.5 million a year earlierNet income: $11.8 million, down from $15.9 million a year earlierEarnings per share: 27 cents per diluted share, down from 35 cents a year earlier
?It is very important for us to reinforce the value of our merchandise at their regular prices,? said Jay Stein, interim CEO. ?We have made substantial progress on this initiative during the first quarter with only a minimal impact to our comparable store sales....<div class="feedflare">
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Judge: American Airlines can cut workers' pay, benefits ahead of union vote
<img src='http://assets.bizjournals.com/tampabay/news/AmericanAirlines_TPAEvents*100.jpg?v=1'>American Airlines can cut wages and benefits of some employees who are considering joining a union, Bloomberg reports. U.S. Bankruptcy Judge Sean Lane denied a request from passenger service agents for an order prohibiting American from changing employment terms just ahead of their vote on joining a union.
American's parent company, Fort Worth, Texas-based AMR Corp. is seeking $1.25 billion in annual labor savings for the airline as it moves through Chapter 11 bankruptcy.
AMR (PK:AAMRQ) proposed...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_charlotte?a=JOgTuMRbokA:XlAM0eYGI54:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_charlotte?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_charlotte?a=JOgTuMRbokA:XlAM0eYGI54:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_charlotte?i=JOgTuMRbokA:XlAM0eYGI54:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_charlotte?a=JOgTuMRbokA:XlAM0eYGI54:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_charlotte?i=JOgTuMRbokA:XlAM0eYGI54:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_charlotte?a=JOgTuMRbokA:XlAM0eYGI54:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_charlotte?d=qj6IDK7rITs" border="0"></img></a>
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CEO tells energy professionals EPRI is hiring in Charlotte
The Electric Power Research Institute is hiring about 30 people ? largely engineers and technicians ? this year as it starts a five-year expansion plan in Charlotte's University Research Park, says EPRI Chief Executive Michael Howard.
Howard was the featured speaker Wednesday at the the Young Professionals in Energy. The meeting was sponsored by the Charlotte office of McGuireWoods ? which has more than 80 lawyers in in its energy practice across 11 states. The meeting was held in the law...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_charlotte?a=AfOARlpg0fk:zqKIHFD3s6o:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_charlotte?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_charlotte?a=AfOARlpg0fk:zqKIHFD3s6o:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_charlotte?i=AfOARlpg0fk:zqKIHFD3s6o:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_charlotte?a=AfOARlpg0fk:zqKIHFD3s6o:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_charlotte?i=AfOARlpg0fk:zqKIHFD3s6o:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_charlotte?a=AfOARlpg0fk:zqKIHFD3s6o:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_charlotte?d=qj6IDK7rITs" border="0"></img></a>
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McKesson expands at Four Resource Square
McKesson Corp., a health-care services and information-technology company, has expanded at Four Resource Square, a five-story office building in Charlotte's University Research Park.
McKesson previously occupied 58,696 square feet, and its new lease expands the company's space to 75,057 square feet. The company moved into the building on David Taylor Drive in 1999.
Four Resource Square totals 151,849 square feet and sits on more than 9 acres. The development's vacancy rate is 24%. The asking rental...<div class="feedflare">
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Warren Buffett buying Media General newspapers
<img src='http://assets.bizjournals.com/charlotte/warren%20buffett%201%20315*100.jpg?v=1'>Warren Buffett is buying the majority of Media General's newspapers, including the Concord Independent Tribune, the Statesville Record & Landmark, the Mooresville Tribune, the Hickory Daily Record and the Lake Norman Navigator, all located in the Charlotte region.
Media General Inc. (NYSE: MEG) announced Thursday that it has signed agreements with BH Media Group, a subsidiary of Buffett's Berkshire Hathaway Inc., for the purchase of 63 daily and weekly newspapers and new financing. Most of the...<div class="feedflare">
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Charlotte company Zander Guinn Millan wins design contract for Democratic National Convention credentials
<img src='http://assets.bizjournals.com/charlotte/blog/queen_city_agenda/DNC%20SteveKerrigan%20ZanderGuinnMillan%20315*100.jpg?v=1'>Democratic National Convention organizers tapped Zander Guinn Millan Inc. of Charlotte to design the official credentials for the September event here.
Democratic National Convention Committee made the announcement at a 2 p.m. press conference today, touting ZGM as a woman-owned company.
Melanie Guinn-Buchanan ? the ?G? in ZGM ? attended and noted that her boutique firm was predominately led by women. Indeed, ZGM?s own web site promotes its six top executives, of which four are women.
That...<div class="feedflare">
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Horizon Lines adds 400 refrigerated containers for Hawaii shipping
<img src='http://assets.bizjournals.com/tampabay/news/ShippingContainers_ACBJ-Stock-Art-109-0-268-268*100.jpg?v=1'>Horizon Lines Inc. is adding 400 refrigerated containers to its shipping business in Hawaii.
The containers, designed to keep perishables fresh, are now in Tacoma, Wash. They include several features that Horizon (OTCQB:HRZL) has added, including enhanced insulation, stronger floors and greater durability. The containers also have added security features to detect unauthorized access.
?Shippers of perishables require the latest equipment to ensure they deliver the freshest quality products to...<div class="feedflare">
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Housing starts up 2.6% in April
<img src='http://assets.bizjournals.com/dallas/homeconstruction*100.jpg?v=1'>Homebuilders nationwide were busier in April, breaking ground for new homes at a 717,000 annual rate. Starts rose 2.6 percent from a revised March level of 699,000, which was stronger than the previously reported 654,000 pace, according to data released by the U.S. Department of Commerce.
Permits to begin new homes fell to a 715,000 annual pace in April, pulling back 7 percent from a pace of 769,000 permits in March, which was the fastest since September 2008. Permits in March also were revised...<div class="feedflare">
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Fifth Third maps out NASCAR debut
<img src='http://assets.bizjournals.com/charlotte/blog/queen_city_agenda/FifthThirdCar%20racing%20NASCARHallofFame%20315*100.jpg?v=1'>Fifth Third Bank seems to be getting the hang of this Carolinas thing. On Monday, the bank became a NASCAR sponsor with a four-race agreement to place its logo on the hood of the car driven by current Daytona 500 champ Matt Kenseth.
But the real driver behind the deal seems to be geography of another kind: where the bank does business. Roush Fenway Racing, owner of Kenseth?s car, has struggled to land corporate backers in recent months, a sign of how much harder it has become for race teams to...<div class="feedflare">
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Charlotte Knights' ballpark pitch in extra innings
<img src='http://assets.bizjournals.com/charlotte/print-edition/Knights%20site%20315*100.jpg?v=1'>Tinkering continues on a request from the Charlotte Knights for $8.5 million in city money to help pay for a new stadium uptown. Charlotte Center City Partners president Michael Smith, who began working to bring baseball uptown in 2005, remains confident City Council will approve the proposal next month.
?We continue to evaluate the concerns of City Council because this is so close and it?s such a great project,? Smith told me after making a presentation to United Way backers this week. Recent...<div class="feedflare">
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Duke Energy proposes rate-cut pilot for large customers
<img src='http://assets.bizjournals.com/charlotte/Duke%20Energy%20HQ%202%20315*100.jpg?v=2'>Duke Energy Carolinas proposes spending about $13 million in shareholder money on a one-year pilot program to offer a 6 percent rate cut to large commercial and manufacturing customers in North Carolina.
The program's aim is to help business customers that are having trouble in the current economy. But it also might also keep large customers from buying power from other sources.
If the one-year pilot is successful and demonstrates benefits for the state and for Duke?s customers beyond those that...<div class="feedflare">
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PJM plans $2B in grid upgrades
PJM Interconnection said Thursday that its board of directors has approved more than 130 upgrades worth nearly $2 billion to the transmission grid it manages.
The Valley Forge, Pa.-based grid operator and power wholesaler said the upgrades are necessary because of plans by generation companies on its grid to retire nearly 14,000 megawatts of generation capacity between May 2012 and the end of 2015. The capacity being retired consists mostly of older, coal-burning power plants, which are dirty and...<div class="feedflare">
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Firm trying to fight off GlaxoSmithKline takeover
<img src='http://assets.bizjournals.com/washington/news/2010/11/16/Human-Genome-Sciences-HQ_web*100.jpg?v=1'>Human Genome Sciences Inc, which has rejected a hostile $13-per-share offer from GlaxoSmithKline, has adopted a short-term stockholder rights plan to fend off such unwanted attention.
Rockville, Md.-based Human Genome (NASDAQ:HGSI) said in a statement announcing the plan that it had declared a dividend of one share purchase right for each share of the company's common stock held of record at the close of business on May 29.
Human Genome said that the rights plan was "intended to allow the company...<div class="feedflare">
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The Barnes Foundation?s new home: Slideshow
<img src='http://assets.bizjournals.com/philadelphia/blog/peter-van-allen/1%20barnes%20and%20skyline*100.jpg?v=1'>The Barnes Foundation?s new site in Philadelphia will open this weekend.
After a 10-year process that included legal wrangling and the raising of $200 million, the Barnes moved its art collection from suburban Merion, Pa., to a brand new, 93,000-square-foot building on the Ben Franklin Parkway.
The collection includes works by Matisse, Picasso, van Gogh, Cezanne, Renoir, Prendergast, Monet and other masters.
It will open to the public on Saturday.
On Wednesday, officials unveiled the new site...<div class="feedflare">
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Comcast raising customers' Internet data limit
Comcast Corp. said Thursday it will raise its data transmission limit on residential Internet customers from 250 gigabytes per month.
The Philadelphia-based telecommunications, media and entertainment giant said in a post on its blog that it will test two approaches, both of which will allow customers to send and receive at least 300 GB of data per month.
One approach will give customers of its three cheapest Internet service plans a cap of 300 GB and give customers of more expensive plans higher...<div class="feedflare">
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Foreclosure filings up in Phila. region, down nationally: RealtyTrac
<img src='http://assets.bizjournals.com/denver/THINKSTOCKForeclosureForecloseCar315*100.jpg?v=1'>Foreclosure filings declined nationally in April but rose locally, according to RealtyTrac, the California company that tracks the data.
RealtyTrac said foreclosure filings ? default notices, scheduled auctions and bank repossessions ? were reported on 188,780 U.S. properties in April, the lowest monthly total since July 2007.
April foreclosure activity decreased 5 percent from the previous month and was down 14 percent from April 2011. One in every 698 U.S. housing units had a foreclosure...<div class="feedflare">
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IBC Foundation donates money to PCOM center in Phila.
The Philadelphia College of Osteopathic Medicine Healthcare Center, Lancaster Avenue division, received a $50,000 grant from the Independence Blue Cross Foundation to implement a patient-centered medical home to improve primary-care services to residents in what the medical school described as an ?underserved and at-risk? West Philadelphia community.
A patient-centered medical home is a team-based model of care led by a personal physician who provides continuous and coordinated care throughout...<div class="feedflare">
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Auxilium says new patent further protects its Testim testosterone gel
The U.S. Patent and Trademark office issued another patent for Testim Thursday to Auxilium Inc. and FCB.
Auxilium, a testosterone gel, is marketed by Auxilium (NASDAQ:AUXL) under a license from FCB of Mahwah, N.J.
The patent, which the companies said claims certain pharmaceutical compositions comprising testosterone, is expected to expire in April 2023.
?We are very pleased that, in addition to the nine previously issued patents covering methods using Testim, the franchise is now further protected...<div class="feedflare">
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Atlas Resource to buy Barnett Shale reserves, raises guidance
Atlas Resource Partners LP said Thursday it has agreed to acquire 250 billion cubic feet equivalent of natural-gas reserves in the Barnett Shale formation in Texas for $184 million in limited partner units.
The Philadelphia-based partnership struck the agreement with Titan Operating LLC, a privately held company based in Fort Worth, Texas.
Atlas Resource (NYSE:ARP) said the deal has been approved by its board of directors and will be effective as of Jan. 1, 2012. It expects the deal to close in...<div class="feedflare">
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Peco announces tree pruning locations in Delco
Peco Energy Co. said Thursday it will spend $1.4 million pruning trees along 300 miles of aerial electric lines in Philadelphia and Delaware County.
The Philadelphia-based electric-and-gas utility said the pruning will begin at the end of May and continue through early September. A list of the Delaware County communities that will see the pruning is here.
The subsidiary of Chicago-based Exelon Corp. (NYSE:EXC) will spend $28 million on its vegetation management program this year.<div class="feedflare">
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Philadelphia's 30 MVPs of the past 30 years: Slideshow
<img src='http://assets.bizjournals.com/philadelphia/news/30%20MVP%20Banner%20fixed-0-549-1496-1193*100.jpg?v=1'>In June, the Philadelphia Business Journal celebrates 30 years of coverage and connections, and we?re sharing the love with special recognition for the individuals and organizations who have made extraordinary contributions to the region over the past generation.
With input from readers and editorial staff, we came up with a list of 30 people, companies and organizations that we believe have had major, lasting significance and deserve to be called Philadelphia?s Most Valuable Players (to see...<div class="feedflare">
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