It’s Personal: How Lundgren Led Macy In Bouncing Back

Macy’s logo (Photo credit: Wikipedia)

As backdrop to the legendary parade, the Macy’s store at New York City’s Herald Square is a star of the show on Thanksgiving. But ask Terry J. Lundgren about Philadelphia, and the Macy’s CEO shares a surprising adoration for a different landmark altogether – the one in Center City that opened a century ago as Wanamakers.

“That is one of the most unique stores in the entire enterprise of Macy’s Inc.,” the chairman, president, and chief executive said as he gushed, largely unprompted, about the Philly stunner that is home to the world’s largest working pipe organ, the kitschy-but-adored Christmas Light Show, and the Dickens Village exhibit.

“It’s the only store in the world that has a pipe organ and that has performances on this organ every single week – and we maintain that. I mean, who would do that?”

Here’s who: A $28 billion company that believes, even amid the growing popularity of Internet shopping, that retailing remains a local game. With this guiding principle and Lundgren’s charisma as change agents, the 800-store chain, now based in Cincinnati, has grabbed a top position only a few years after the department-store sector looked like an endangered species.

Read more at http://www.philly.com/philly/business/20131128_How_Lundgren_led_Macy_in_bouncing_back.html#u2dKLoMavfuplyf4.99

McDonald’s Squeezing Out Heinz Ketchup

English: A bottle of Heinz ketchup (Photo credit: Wikipedia)

McDonald’s is moving to clear Heinz ketchup out of its system.

The restaurateur this week confirmed that it has started the process of moving to other vendors, following the appointment of former Burger King Worldwide CEO Bernardo Hees to run Pittsburgh-based H.J. Heinz Co. Mr. Hees also serves as vice chairman of the board of Miami-based Burger King.

“As a result of recent management changes at Heinz, we have decided to transition our business to other suppliers over time,” according to a statement from Oak Brook, Ill.-based McDonald’s.

The decision appears to put an end to a years-long push by Heinz officials to regain ground with the restaurant giant that operates more than 34,000 locations around the globe, although most American customers buying Big Macs aren’t getting Heinz ketchup with their fries anyway.

Read more: http://www.post-gazette.com/business/2013/10/25/McDonald-s-squeezing-out-Heinz-ketchup-Golden-Arches-dropping-Heinz/stories/201310250056

Hazleton General To Merge With Lehigh Valley Health

English: Lehigh Valley Hospital, Allentown, PA, USA (Photo credit: Wikipedia)

Greater Hazleton Health Alliance plans to merge with Lehigh Valley Health Network, pending approval by state and federal regulatory agencies, the health groups announced Wednesday.

Greater Hazleton Health Alliance has a staff of more than 1,000 people and includes the 150-bed Hazleton General Hospital and the Hazleton Health & Wellness Center, which provides diagnostic testing and rehabilitation.

It also operates a network of physicians and surgeons in 15 offices. LVHN employs more than 12,000 workers and 1,000 beds at three hospitals.   In addition, it operates nine health centers and numerous physician practices throughout the Lehigh Valley region.

Read more:  http://www.mcall.com/news/breaking/mc-lvh-hazleton-merger-20130424,0,1475217.story

PhillyInc: Merger Of Real Estate Firms Tied To Life Sciences May Give West Philadelphia Area A Boost

English: Map of Philadelphia County highlighting West Philadelphia (Photo credit: Wikipedia)

For 50 years, the University City Science Center has been where scientists and start-ups have toiled to build the next generation of Philadelphia-area companies.

But to hear science center president and CEO Stephen S. Tang, what would really help nurture that entrepreneurial soup would be if a big life-sciences company were to put its headquarters or research operations in West Philadelphia.

Given that several of the biggest drug companies locally have already made long-term commitments elsewhere, there is nothing on the horizon presently.  But a merger between two real estate firms that focus on life-sciences properties may aid Tang’s quest.

Late last month, BioMed Realty Trust Inc. said it would acquire Wexford Science & Technology L.L.C. in a $640 million transaction.

Read more: http://www.philly.com/philly/business/columnists/20130408_PhillyInc__Merger_of_real_estate_firms_tied_to_life_sciences_may_give_West_Philadelphia_area_a_boost.html#ixzz2PsybwX00 
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PPG Completes $1.05 Billion Acquisition Of Akzo Nobel Coatings Unit

PPG Place in downtown Pittsburgh, Pennsylvania. (Photo credit: Wikipedia)

PPG Industries said today it completed its $1.05 billion acquisition of Akzo Nobel‘s North American architectural coatings business.

The purchase, the second largest in PPG’s history, strengthens the Pittsburgh company’s paint and coating business, which is anticipated to benefit from a revival of the U.S. housing market.

Read more: http://www.post-gazette.com/stories/business/news/ppg-completes-105-billion-acquisition-of-akzo-nobel-coatings-unit-681682/#ixzz2PGEFDIdD

Confidence On Upswing, Mergers Make Comeback

The mega-merger is back.

For the corporate takeover business, the last half-decade was a fallow period.  Wall Street deal makers and chief executives, brought low by the global financial crisis, lacked the confidence to strike the audacious multibillion-dollar acquisitions that had defined previous market booms.

Cycles, however, turn, and in the opening weeks of 2013, merger activity has suddenly roared back to life.  On Thursday, Berkshire Hathaway, the conglomerate run by Warren E. Buffett, said it had teamed up with Brazilian investors to buy the ketchup maker H. J. Heinz for about $23 billion.  And American Airlines and US Airways agreed to merge in a deal valued at $11 billion.

Those transactions come a week after a planned $24 billion buyout of the computer company Dell by its founder, Michael S. Dell, and private equity backers.  And Liberty Global, the company controlled by the billionaire media magnate John C. Malone, struck a $16 billion deal to buy the British cable business Virgin Media.

Read more:  http://dealbook.nytimes.com/2013/02/14/confidence-on-upswing-mergers-make-comeback/?hp

Service Cuts May Follow Merger Of Airlines

The airline industry took a decisive step toward greater concentration on Thursday with the announcement that American Airlines and US Airways had agreed to merge, forming the nation’s biggest airline.  The merged airline, to be called American, leaves just three major carriers — Delta Air Lines and United Airlines too — able to offer extensive domestic and international service, a sharp contraction over the last decade.

But while airline executives argue that mergers are good for passengers because they bring more service to more destinations, some economists and consumer advocates warn that all this consolidation comes at a price for travelers.

With fewer carriers, passengers have fewer options; fares and fees are now more likely to go up, particularly for flights between midsize cities.  And more cities, especially smaller ones, can expect to see further reductions in service.

“It’s much easier to have tacit collusion with just three airlines,” said George Hoffer, a transportation economist at the University of Richmond.  “It’s not illegal.  But it’s like having a few big people in a small boat. Anyone’s decisions tie you all together.”

Read more:  http://www.nytimes.com/2013/02/15/business/airline-consolidation-may-be-costly-to-travelers.html?pagewanted=1&_r=0&hp