2 city law firms may merge into largest in state

Article Abstract:

Blank, Rome, Comisky & McCauley and Cozen & O'Conner, two law offices based in Philadelphia, announced that they are engaged in merger negotiations. If the proposed merger is concluded, the merged entity will have a staff of 590 attorneys. This would make it the largest law firm in Philadelphia as well as in the state of Pennsylvania. Officials from both firms said that there would be no immediate layoffs because of the planned merger. Blank Rome primarily handles business practices, labor law, and bankruptcies. Cozen & O'Conner handles litigation in the insurance and commercial fields.

Strategy & planning, Attorneys, Offices of Lawyers, Lawyers, Blank, Rome, Comisky and McCauley L.L.P., Cozen and O'Connor

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New loan option for smaller firms

Article Abstract:

Penn SE Mezzanine Fund has been created by the Ben Franklin Technology Center and five area banks to provide funds to ambitious companies which could not obtain financing from banks because of limited collateral. The fund has already raised $7 million. Penn SE will offer more highly leveraged loans than the ones offered by banks. Its loans, however, will be between $100,000 and $750,000. The fund is being managed from the King of Prussia offices of Mezzanine Capital Management of Southeastern Pennsylvania.

Comment:

Has been created by the Ben Franklin Technology Center and five area banks to provide funds to ambitious companies

Open-End Investment Funds, Money Market Invest Funds, Mutual fund industry, Money market funds, Article, Penn SE Mezzanine Fund

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A food distributor's move is a neighborhood's win

Article Abstract:

Food distributor, Asia Food's Inc. (Philadelphia, PA) has relocated it's company to a new building. The new site was formerly an oil and antifreeze recycling facility before the city bought and cleaned up the contaminated area and soil, selling the land to Asia Foods. The deal was facilitated by the Philadelphia Empowerment Zone, which works at developing neighborhoods in the city. The new building almost triples their office and freezer space of the old building which was falling apart.

Groceries & Rel Prods Whsle, Grocery and Related Product Wholesalers, Groceries and Related Products, Asia Foods Inc

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