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Tue, September 23, 2008 01:31:04 PMFrom:
Philly.com: Inquirer Business Update
Subject:
Inquirer Business Update: Oskar Huber files for bankruptcy
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Philadelphia Business Today
Top Story
Oskar Huber Fine Furniture Inc., of Southampton, Bucks County, filed for Chapter 11 bankruptcy protection, saying that sales have fallen 40 percent to 50 percent in recent months.
BUSINESS BLOGS
Earlier this month, a departing director at Encorium Group Inc. offered a rare glimpse inside the boardroom when directors and the CEO don’t see eye to eye.
Christopher F. Meshginpoosh resigned from the board of the publicly traded clinical research organization as of Sept. 5. He did so in a letter to then-CEO Kai Lindevall. In the letter, filed with the Securities and Exchange Commission, Meshginpoosh cited as the primary reason for his resignation “a growing lack of confidence in your ability to provide information necessary for me to effectively represent the shareholders.”
Baltimore developer Cordish & Co., picked by Comcast-Spectacor to build stores and a hotel at the Spectrum site in South Philly, starts talks with New Jersey casino regulators to take over Atlantic City's Tropicana hotel-casino complex.
Today's Inquirer
NEW YORK - Volatility swept the financial markets again yesterday as investors grew nervous about an amorphous government plan to buy $700 billion in banks' mortgage debt. Stocks fell sharply, taking the Dow Jones industrials down more than 370 points, while investors sought safety in hard assets such as gold and oil.
NEW YORK - Oil prices briefly spiked more than $25 a barrel during trading yesterday - the biggest one-day price jump ever - as anxiety over the government's $700 billion bailout plan, a weak dollar, and an expiring crude contract ignited a dramatic rally.
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