Joseph N DiStefano
@phillyjoed.bsky.social
JoeD@Inquirer.com I write about money and people mostly for the Philadelphia Inquirer https://www.inquirer.com/author/distefano_joseph_n/ +OFS
CEO-Chairman at Philly-based mine and military drone systems maker $EXYN is Out after credit card investigation. My story: www.inquirer.com/business/exy...
CEO of robot tech company Exyn is out after unauthorized credit card spending
Exyn Technologies CEO Brandon Torres Declet resigned after an investigation found $287,000 in personal expenses.
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Contractors pivot to Trump priorities: As college, healthcare, housing projects slow, these builders + bankers hope AI data centers, Pentagon build-up will keep construction going. My story: www.inquirer.com/real-estate/...
As Philly-area construction has slowed, builders are shifting to data centers and military projects
Philly bankers and builders are seeing a switch this year away from "eds and meds" and apartment construction toward heavy industry.
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Ex- Philadelphia Fed, UDel presidentm Wharton dean Patrick Harker back @Wharton warning on US and global financial risk, and what not to worry about so much: www.inquirer.com/business/pat...
Ex-Philly Fed chair is back at Wharton and on a quest to save the world financial system
"I’m where the vast majority of Americans are: They’re sick of ideology. It gets us nowhere," Patrick Harker says. "We are a pragmatic people. Let’s do reasonable stuff."
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Hanwha Philly Shipyard owner offers to buy money-losing Austal Alabama shipyard, nuclear-submarine fabricator, and California ship-repair for over $1 billion, after pulling out of NJ deal. My latest: www.inquirer.com/business/han...
Philly shipyard owner Hanwha is shifting its investment focus to the South and West
Hanwha, which wants to expand in the United States, tried to buy facilities in Paulsboro, N.J., but couldn't reach a deal with Holt Logistics.
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QVC's new hedge-fund owners name a post-John Malone board with retail/tech muscle, bring back ex-CEO John George as caretaker boss, and chart a future for the faded Pa.-based TV shopping giant. My story: www.inquirer.com/business/qvc...
QVC brings in old boss and digital-minded board members as it comes out of bankruptcy
West Chester-based QVC cut its debt and shed its CEO in reorganization.
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Remote-shopping pioneer QVC's new hedge-fund masters replace media-billionaire John Malone's board with digital execs, and brings back an old CEO, for now: www.inquirer.com/business/qvc...
QVC brings in old boss and digital-minded board members as it comes out of bankruptcy
West Chester-based QVC cut its debt and shed its CEO in reorganization.
inquirer.com
Custom Mobile Food Equipment has grown a hot dog cart factory on the edge of the Jersey Pine Barrens into a provider of hand-built mobile steel kitchens to Disney, Carnival Cruise and many more, over three generations. Now coping with tariffs. My story: www.inquirer.com/business/cus...
Meet the South Jersey business making food carts for Jersey Shore vendors and Disney World
For Custom Mobile’s hand-made stainless-steel food wagons and trucks, competition is cheap foreign carts and Wawa.
inquirer.com
Hanwha vs Holt: How New Jersey lost a shipyard. My latest: www.inquirer.com/business/han...
Hanwha vs. Holt: How New Jersey lost a shipyard
Hanwha is now looking in southern states for a place to invest a chunk of the $5 billion it has pledged for U.S. shipbuilding.
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@PhillyShipyard vs @PhillyPortHolt : How New Jersey lost a shipyard. My latest: www.inquirer.com/business/han...
Hanwha vs. Holt: How New Jersey lost a shipyard
Hanwha is now looking in southern states for a place to invest a chunk of the $5 billion it has pledged for U.S. shipbuilding.
inquirer.com
Philly area construction slowdown? Jake Blumgart has been chronicling project delays and cancellations. Post Bros. has faced a dozen lawsuits from contractors who say they are owed, we review the suits, and the cofounder's response www.inquirer.com/real-estate/...
Philly developer Post Brothers faces contractor lawsuits and a union campaign
The Post Brothers face 12 lawsuits from a variety of union-affiliated contractors over their Broad and Washington project.
inquirer.com
Made-in-USA ships need Asian parts. My story about Hanwha Philly Shipyard's brand-new shipload of China and Korea built content for Jones Act container ships: www.inquirer.com/business/han...
Hanwha is importing parts for made-in-America ships
American-made ships at the Philly Shipyard are built with Chinese fuel tanks and Korean steel.
inquirer.com
Both Wawa + Swiss Farms started Delco, Pa, '60s. Now Wood family-run Wawa has 1,000 USA stores, most w/gas; Swiss Farm, after failed PE + chain growth plans, just 10 drive-ups. New owner Arsh Pola to add gas at 25+ new Philly area stores, he tells me: www.inquirer.com/business/swi...
Like rival Wawa, Delco’s Swiss Farms plans to add gas pumps under its latest owner
Arsh Pola, who owns gas stations, plans steady, incremental, gas-fueled growth for drive-up Swiss Farm Stores.
inquirer.com
Both @Wawa + @SwissFarms started Delco, Pa, '60s. Now Wood family-run Wawa has 1,000 USA stores, most w/gas; Swiss Farm, after failed PE + chain growth plans, just 10 drive-ups. New owner Arsh Pola to add gas at 25+ new Philly area stores, he tells me: www.inquirer.com/business/swi...
Like rival Wawa, Delco’s Swiss Farms plans to add gas pumps under its latest owner
Arsh Pola, who owns gas stations, plans steady, incremental, gas-fueled growth for drive-up Swiss Farm Stores.
inquirer.com
Mushroom wars: As U.S. production plunges + farms shut in anti-immigrant labor crisis, family-owned Pa. growers cheer @CommerceGov finding: PE-backed Canada growers dumped fungi below cost. Higher prices could be next. My story: www.inquirer.com/business/ken...
Pa. mushroom growers are divided over cheap, grocery-store fungi
Canadians are claiming more mushroom sales as Kennett Square growers grapple with labor concerns.
inquirer.com
This Philadelphia suburb just cancelled Citizens Bank for funding private prisons that handle U.S. immigration deportees + have been the focus of human rights complaints: inquirer.com/news/chelten... Even though Citizens Bank says it doesn't fund them anymore: www.inquirer.com/business/cit...
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USA will keep making NSMV training/emergency ships at Hanwha Philly Shipyard, and Columbia Navy nuclear submarine modules at General Dynamics' Philly contractor Rhoads, Sen. McCormick says. I parse details: www.inquirer.com/business/shi...
U.S. pledges to buy more Philly-made ships and nuclear sub parts
Hanwha's multipurpose ships and Rhoads' nuclear submarine modules will anchor waterfront investment, say Sen. Dave McCormick and JPMorgan CEO Jamie Dimon.
inquirer.com
Attalon: This PE-owned death-ray maker for the US Army has relocated to Philly, plans $30M suburban factory. My story: www.inquirer.com/business/att...
Army laser weapon maker plans 100 hires at a new $30 million Bucks County factory
The defense technology company Attalon plans to hire in engineering, technical, and management jobs in Trevose.
inquirer.com
Robot dogs! Norristown, Pa. maker's flying and marching robots get new USAF Air Force deal. My story: www.inquirer.com/business/asy...
Pa. robot maker wins Air Force deal for DroneDogs and other automated inspectors
The goal of the robot system is to improve the speed and reliability of plane checks by Air Force maintenance crews, the company says.
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Delta Air Lines: As oil prices soared, Pa. refinery leak and fire boosted jet fuel 5 cents a gallon; production there still 25% below target; expects fuel has peaked at $3.93/2q and is headed lower in 3q. My story: www.inquirer.com/business/del...
Delta Air Lines customers are paying more after the recent leak and fire at its Delco refinery
Delta’s fuel costs averaged $3.93 a gallon — the highest ever, the company says — in the three months ending June 30. That’s up from $2.25 a gallon a year earlier.
inquirer.com
Delta Air Lines: As oil prices soared, Pa. refinery leak and fire boosted jet fuel 5 cents a gallon; production there still 25% below target; expects fuel has peaked at $3.93/2q and is headed lower in 3q. My story: www.inquirer.com/business/del...
Delta Air Lines customers are paying more after the recent leak and fire at its Delco refinery
Delta’s fuel costs averaged $3.93 a gallon — the highest ever, the company says — in the three months ending June 30. That’s up from $2.25 a gallon a year earlier.
inquirer.com
I’ve always said that *well-regulated* sports gambling should be legal, and one of those regulations should be that active athletes (and bryce certainly isn’t the first, though this crosses a new line) cannot touch this stuff with a 39 1/2 foot pole
Bradford Pearson@bradfordpearson.bsky.social · 2mo agoI truly don’t see how this country can go on if we don’t ban online sports betting. This story is stomach-turning.
Public education and better rules and enforcement are desperately needed. Aging lithium ion batteries are dangerous. Dispose of them properly— no, not in the garbage!
Joseph N DiStefano @phillyjoed.bsky.social · 2mo agoAmerica’s scrapyards are burning with lithium-ion battery fires from discarded tools and appliances. Recyclers have a solution, manufacturers are blocking it, and metal is piling up. My story: www.inquirer.com/business/scr...
America’s scrapyards are burning with lithium-ion battery fires from discarded tools and appliances. Recyclers have a solution, manufacturers are blocking it, and metal is piling up. My story: www.inquirer.com/business/scr...
Exploding lithium-ion batteries are blamed for fires in area junkyards and drop in port traffic
Scrap iron, one of the Philadelphia area's biggest exports, is plagued by battery fires, yard operators say.
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China securities regulators, or their trader friends, used inside information to rip off Susquehanna SIG for $71 million, Pa. billionaire trader and China investor Jeff Yass' firm says in a federal lawsuit: www.inquirer.com/business/jef...
How unknown Chinese ‘insider traders’ cost Jeff Yass’ firm more than $70 million
Susquehanna Investment Group won an injunction against a "John Doe" gang.
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Still relevant, 215 years after Thomas Jefferson killed it: As First Bank of the United States museum opens in Philly, U.S. Supreme Court's Roberts cites its independence in refusing Trump's Fed firing; Thomas protests 'short-lived' precedent. My story: From inquirer.com
Inquirer.com: Philadelphia local news, sports, jobs, cars, homes
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No sale: FMC lands a $400MM investment from Belgium's Tessenderlo, boss Pierre Brondeau's board ends 'strategic process.' My story: www.inquirer.com/business/fmc...
With a new $400M investor, FMC says it can remain independent and boost pesticide sales
FMC had lost value as sales growth slowed worldwide and a key insecticide patent expired.
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Still relevant 215 years after shutdown: As First Bank of the United States museum opens in Philly, US Supreme Court Chief Justice Roberts cites its independence in refusing Trump's Fed firing; Justice Thomas protests 'short-lived' precedent. My story: www.inquirer.com/business/fed...
Philadelphia’s First Bank cited in Supreme Court ruling limiting Trump’s power
The court's ruling confirms the Federal Reserve's vital independence — by one vote, says Glenmede's Michael Reynolds.
inquirer.com
After leak and fire knock Delta Air's Monroe refinery offline, we gotta ask: Could wartime profits pushed back maintenance, sparking accidents? And, how long til this Pa. refinery is back up - could airlines run short of fuel? www.inquirer.com/business/ref...
U.S. refinery accidents, including in Pa., raise questions about cost impact as fuel demand rises
Delaware County's Monroe Energy refinery and three other U.S. plants have experienced unplanned shutdowns as fuel companies cope with shifting supply and demand.
inquirer.com
Triple revenues, or one big sale? Incyte CEO Bill Meury, who's sold a string of biotechs for billions, says his job at the $5B/year DE-based is growing cancer, blood, immune treatments. He tells me how: www.inquirer.com/business/inc...
Incyte is built to grow, says the company’s CEO, who sold previous biotechs for billions
Bill Meury says his company now has blood, cancer, and immune treatments to replace sales from its top-selling drug, Jakafi, when its patent expires.
inquirer.com
