Archive for the ‘General Business News’ Category

Greater Reading Chamber of Commerce & Industry recognizes Rising Stars

October 8, 2011 Leave a comment

The Greater Reading Chamber of Commerce & Industry honored its Rising Stars, young professionals who excel in their careers and give back to their communities, at a “Meet the Stars Under the Stars” reception Thursday night at the Reading Public Museum Planetarium.

The Rising Stars are Lenin Agudo, Hamid Chaudhry, Aaron Costenbader, Kristi Gage-Linderman, Michele L. Richards and Ruthann J. Woll.

via Reading Eagle –  Greater Reading Chamber of Commerce & Industry recognizes Rising Stars

Categories: General Business News

Two ex-Berkshire Bank Branches to Close

October 1, 2011 Leave a comment

Customers Bank, which finalized its acquisition of Berkshire Bancorp Inc. on Sept. 17, said Friday that two of the five former Berkshire Bank branches will be closed by year’s end.

The offices are at 555 Penn Ave., West Reading, and 2493 Bernville Road, Bern Township.

Jay S. Sidhu, chairman and chief executive of Customers Bank, based in Wyomissing, said the branches, which Berkshire bought from Fleetwood Bank in 2007, were unprofitable for both of those banks.

Sidhu said accounts held at those branches and their employees, whose number he could not provide, will be consolidated into other branch locations.

via Berks business log: Two ex-Berkshire Bank branches to close.

ServiceMark to merge into UGI Utilities

October 1, 2011 Leave a comment

Beginning Saturday, ServiceMark will merge into UGI Utilities Inc., both of Green Hills.

“The consolidation in the Reading area was because of the continued downturn in the economy and because of the significant downturn in the new home construction market,” said Joseph J. Swope, communications manager for UGI Utilities Inc.

Both companies are subsidiaries of UGI Corp., Valley Forge.

via Reading Eagle – ServiceMark to merge into UGI Utilities

Categories: General Business News

EnerSys To Launch Joint Venture In Germany

October 1, 2011 Leave a comment

EnerSys Inc., the Bern Township battery maker, announced Wednesday that it has entered into a definitive agreement to launch a joint venture in Germany to produce large-format lithium-ion battery cells.

“We have a controlling, majority interest in the joint venture,” said Richard W. Zuidema, executive vice president at EnerSys.

via Reading Eagle – EnerSys joins battery pact in Germany.

Categories: General Business News

Do Happier Employees Give Companies Better Returns?

September 18, 2011 Leave a comment

Corporations listed in Fortune’s “100 Best Companies to Work For in America” had equity returns that were 3.5% per year higher than those of their peers, indicating that employee satisfaction correlates positively with shareholder returns, says Alex Edmans of the Wharton School.

via Do happier employees give companies better returns? – Barking up the wrong tree.

Does ending prices in “.99” really fool anyone?

September 18, 2011 Leave a comment
Categories: General Business News

Narrow Fabric of Wyomissing to Close

September 10, 2011 Leave a comment

Narrow Fabric Industries Corp. announced today that it will close its West Reading plant effective immediately, laying off more than 100 employees.

Charles Miller, president of the company, confirmed that the 111-year-old maker of elastic and nonelastric fabric and trim for the hosiery, lingerie and medical industries would close.

via Reading Eagle – Narrow Fabric to close; more than 100 will lose jobs

Categories: General Business News

Hamburg Industries Shuts Down

September 9, 2011 Leave a comment

The assets of Hamburg Industries Inc., manufacturer of brooms, brushes and mops, have been purchased by Nexstep Commercial Products, Springfield, Ohio, for an undisclosed price, and its 16 workers have been laid off.

Hamburg Industries President and Chief Executive Officer Richard E. Stiller said Thursday that his impending retirement, the inability to sell the company as a whole and foreign competition forced him to sell off the assets.

via Reading Eagle – Hamburg Industries Inc. shuts down

Categories: General Business News

Two Unexpected Ways To Increase Productivity

September 8, 2011 Leave a comment

Two studies reported on Barking Up The Wrong Tree:

Can a web break make you more productive?

The answer is yes.


How much of office gossip is true?

If left unguarded, the grapevine can become an organization’s worst enemy, but when it is managed properly it can significantly increase the productivity and job satisfaction of employees.

The grapevine’s communication does not really concentrate on gossip regarding individuals; about 80% of it pertains to business-related politics. It is also interesting to note that 70-90% of a message’s details are usually correct.

Categories: General Business News

Merger Approved For Berks Co. Bank

September 7, 2011 Leave a comment

Customers Bank announced that shareholders approved the formation of Customers Bancorp Inc., its new bank holding company, and approved the merger with Berkshire Bancorp Inc. at a special meeting Tuesday in Crowne Plaza Reading, Wyomissing. The merger brings the bank, led by Berks County banker Jay S. Sidhu, up to $2 billion in assets.

via Reading Eagle – Local banks’ merger approved