PPG Profit Soars 64 Percent In Third Quarter

Acquisitions remain a focus for PPG Industries Inc., which has $3 billion in cash that it can spend to increase performance, CEO Charles E. Bunch said Thursday when the company reported a 64 percent jump in third-quarter profit.

“We have a very active acquisition pipeline,” Bunch said. “Including the pending acquisition of Comex, we will likely spend at or above the top end of our previously announced range of $3 billion to $4 billion of cash in 2014 and 2015 on acquisitions and share repurchases.”

PPG’s latest deal is the purchase of Consorcio Comex S.A. de C.V., a leading paint company in Mexico, for $2.3 billion. The deal announced June 30 is expected to be completed by Dec. 31.

Read more: http://triblive.com/business/headlines/6972135-74/sales-improved-percent#ixzz3GPZ9k5QG
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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

Campbell’s CEO Vows Commitment To Camden

Logo of Campbell’s Soup Company (Photo credit: Wikipedia)

When it comes to keynote speakers, the International Economic Development Council’s choice of Denise Morrison Tuesday was inspired.

There are few Fortune 500 CEOs as uniquely qualified to speak about bolstering a ‘ backyard as Morrison, who is now two years into a tour of duty as head of Campbell Soup Co.

As Campbell’s CEO, she has remained committed to keeping the retail food giant squarely in the corner of its struggling hometown.

“I believe in the future of Camden,” she told a packed IEDC conference at the Philadelphia Marriott, “and so does Campbell.”

Read more at http://www.philly.com/philly/business/20131009_Campbell_s_CEO_vows_commitment_to_Camden.html#DmlPC4oGU644ehpE.99

Dollar General, Like Its Shoppers, Weathers Tough Times

Four years ago, Jacqueline Horne lost her job as a business agent for a union and became a regular shopper at the Dollar General store in Pennsauken.

On a recent visit, the 46-year-old mother of two, who now works part time at a Wal-Mart store, bought cleanser for 50 cents, candy for $1, press-on nails for $1 (she said she can’t afford to get her nails done), and spices for $2.25, the most expensive item in her cart.

“Actually, it turns out to be cheaper,” Horne said of items at the Dollar General at 3400 Haddonfield Rd., on the border of Pennsauken and Cherry Hill. “When you’re on a budget in this economy, you watch everything.

“They really do have everything you need.”

Read more: http://www.mcall.com/news/nationworld/mc-dollar-general-stores-tough-times-20130926,0,3690723.story