Allegheny bankruptcy rings up its own costs

Article Abstract:

Companies representing the bankrupt Allegheny health system and its creditors have so far submitted $13 million in bills. Professionals representing 12 companies have requested that the U.S. Bankruptcy Court in Pittsburgh, PA, approve a total of $13 million in costs and fees so far. Allegheny has a debt of $1.5 billion. The Allegheny case's professional expenses easily surpass the almost $2 million that attorneys and accountants in the liquidation of the Foundation for New Era Philanthropy got for their work. The Allegheny expenses are comparable to those incurred by large corporate bankruptcies around the U.S. in recent years.

Comment:

Companies representing the bankrupt Allegheny health system and its creditors have so far submitted $13 million in bills.

Health Care and Social Assistance, Health Planning, Allegheny Health Services Inc.

Provident Mutual shift to stocks is approved

Article Abstract:

Provident Mutual Insurance Co. has received approval from its shareholders to reorganize into a new corporate structure that would allow it to sell shares to the public. Over 57,400 policyholders voted, mostly through proxies, to approve the plan at the company's headquarters in Berwyn, Pennsylvania. Almost 7,000 voted against the plan and over 22 percent of all proxies were returned. Although Provident has no current intention of issuing stock, the restructuring allows it access to capital markets or the ability to merge with other insurers, said Robert W. Kloss, president and chief executive.

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Provident Mutual Life Insurance Company of Philadelphia

Thoughts are sweet as Asher's moves to a suburban site

Article Abstract:

Asher's Chocolates has relocated its headquarters and factory from Germantown, PA, to Franconia in Montgomery County, PA. The company has already moved about 75% of its operations to the new $10 million facility, where 125 workers have already started their functions. The company hopes to complete the relocation in early 1999. The company's president and CEO David Asher, said that the company may also add 25 employees to the new facility. Asher said that the company will keep a smaller plant in Lewistown, PA and a warehouse in Montgomeryville, PA.

Comment:

Has relocated its headquarters and factory from Germantown, PA, to Franconia in Montgomery County, PA

Chocolate & Choc-Type Confections, Chocolate and Confectionery Manufacturing from Cacao Beans, Chocolate candies, Article, Asher's Chocolates