Photo courtesy Egalet
That Egalet Corporation is in the Philadelphia area is due to one man: Robert Radie.
Well, kind of. Radie joined Egalet’s board in March of 2012 as the first U.S.-based employee, having worked in the Philadelphia area since 1991. (Originally a New Englander, he’s from here now.) He successfully led several drug companies that were later acquired, including the Pfizer’s purchase of Vicuron Pharmaceuticals for $1.9 billion.
When he joined Egalet, the company was still based in Europe. It had been founded in Værløse, Denmark in 1995. But after Radie joined, the company eventually moved its headquarters to Wayne.
“One of the attractive aspects of this area is access to talent,” Radie tells Philadelphia magazine. “And you know because of the proximity to larger pharmaceutical companies in the general area from the Philadelphia area into New Jersey… I think also the local advocacy group Pennsylvania Bio is a very active group that is a proponent for the biotech and health services health services industries. So there’s just a lot that that makes this area the right place for a company like Eaglet.”
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Rob Wonderling. Image via Twitter.
It’s been a week since Comcast threatened the city with a lawsuit against the pay equity bill. And since the issue became public, Rob Wonderling, president and CEO of the Greater Philadelphia Chamber of Commerce, and David L. Cohen, Comcast’s senior executive vice president, have claimed that scores of businesses have approached them in agreement that the bill would be harmful to businesses.
In an op-ed Wonderling published last week in the Philadelphia Business Journal, he wrote: “The business coalition opposing this Ordinance is broad and includes both large and small employers, for profit and not for profit.” Read more »
Parkway Corporation’s proposed development at Broad and Spring Garden would add offices to the residence-retail mix found in other North Broad projects currently underway. | Rendering © BLT Architects
Along with Eric Blumenfeld, Parkway Corporation has become one of the most important developers along the North Broad Street corridor. And like Blumenfeld, Parkway sees the street as having untapped potential as an all-day live/work/play environment. (The folks at Parkway should know: the company headquarters is at Broad and Race streets.)
What’s different about Parkway’s latest development proposal is that it seeks to combine all three of those elements into a single package at a convenient location.
“It’s my dream to build significant office space there, to get some jobs into that neighborhood,” said Parkway CEO Robert Zuritsky. “The retail and residential are a slam dunk, but [North Broad] is also an important commercial district.” Read more »
Photo via Wikimedia Commons.
The tale of one of the country’s most scandal-ridden companies is finally coming to an end. Clothier American Apparel, which has touted a “made in the USA, sweatshop free” ethos for the last 20 years or so, recently announced that it will shut down all 110 of its stores.
After filing for bankruptcy twice since 2015, the company — once considered an American manufacturing success story — sold its brand for $88 million in a bankruptcy auction last week to Canada’s Gildan Activewear, which manufactures branded basics like T-shirts, socks, and underwear.
Though the company hasn’t announced exactly when the stores will close, store representatives at four Philadelphia regional locations — Center City, King of Prussia, University City, and Cherry Hill — speculated that the stores will shut down sometime between February and April, though they had not yet been briefed internally about layoffs or store closings. Read more »
Builders of commercial and industrial projects, including apartment buildings, can run into costly surprises if they don’t check out the condition of the land they’re building on – and what’s under it. That’s where geotechnical engineers come in. | Photo: GZA
The Leaning Tower of Pisa is the most famous example of what happens when builders fail to do due diligence on the land beneath their buildings and the things that may lie beneath it.
Unfortunately, back in the 1100s, there wasn’t really anyone around who knew enough about such things to advise the tower’s builders on how to avoid potential problems.
Today, there are experts who can offer that advice. They’re known as “geotechnical engineers.”
Ernie Hanna is one. He’s the principal in the Philadelphia office of GZA, a Massachusetts-based engineering and construction management firm with two other offices in this area; the Center City Philadelphia office is its newest. Read more »
Five Below CEO Joel Anderson, who oversees the company’s 523 stores | Photograph by Christopher Leaman
Twenty minutes to go until a brand-new Five Below is scheduled to open its doors, and the line is already 30 people deep.
It’s a cold Friday morning at the beginning of November, and on the drive to the Roosevelt Boulevard shopping center where this grand opening is scheduled, I have a pretty clear picture of what the store is going to look like. I’ve been to a handful of these stores in the past few weeks, and I know the new one will be rectangular and fluorescent and packed with merchandise, like the chamber of one of those claw-machine games at the bowling alley. Read more »
In early December, City Council unanimously approved a pay equity bill sponsored by Councilman Bill Greenlee that would prevent employers from asking prospective employees what they’ve earned in the past.
The bill’s objective is to curb discrimination during the hiring process, particularly for women and minorities. The bill cites women in Pennsylvania as earning 79 cents for every dollar a man makes, with women of color being paid even less. And herein lies the heart of the bill: An employer’s reliance on an applicant’s wage history to determine future payment may perpetuate discrimination. Read more »
The Macy’s at Plymouth Meeting Mall. Image via Google Street View.
By the time Macy’s broke the news that four of its Philly-area stores will close their doors this spring, the Pennsylvania Real Estate Investment Trust, which owns two of the four malls affected, had long begun the search for new tenants. Read more »
The future home of I. Goldberg at 718 Chestnut St. | Photo: Sandy Smith
Nana Goldberg, owner of the legendary I. Goldberg Army-Navy store, knew her days at 13th and Chestnut might be numbered back in 2015 as a wave of retail redevelopment worked its way eastward from Broad Street. But she wasn’t prepared to absorb a fourfold rent increase her landlord proposed to implement at the end of her lease this coming September.
Fortunately for her and for legions of I. Goldberg fans, she won’t have to, nor will she have to close the store. Her search for new digs has come to a successful end with the signing of a lease for 718 Chestnut Street. Read more »
The first phase of the massive East Market project includes office, residential and retail space. It’s the presence of the residents that’s driving office growth along the corridor. | Rendering © BLT Architects
Amid the numbers contained in JLL’s latest quarterly report on the Philadelphia office market were some moves that signal that life along Market Street East is about to get more interesting. In fact, it might even lead to the ultimate transformation of the entire length of Center City’s principal thoroughfare into an 18-hour live/work/play environment, if not a 24-hour one.
Two of the big ones were Five Below’s announcement that it will move its headquarters into the Lits Building at 701 Market and Pulver’s later announcement that it will build a speculative office and retail tower at 1301 Market. Coming as both do on the heels of the massive East Market office/residential/retail project, they signal growing interest among office tenants in the eastern stretch of Market.
There’s a good reason for this, said Lauren Gilchrist, vice president and director of research at JLL. Read more »