Business news in brief
In the Region
Susquehanna announces job cuts
In preparation for its acquisition of Tower Bancorp Inc. next month, Susquehanna Bancshares Inc. said 372 positions would be eliminated in Pennsylvania, New Jersey, and Maryland in the combined operations. That figure includes 75 in the Philadelphia region, Susquehanna spokesman Steve Trapnell said, but not all are expected to be unemployed. The Lititz, Pa., bank has "a couple hundred" open positions, Trapnell said, and the goal is for many of the affected employees to apply for those jobs. After the merger, which is expected to close Feb. 17, Susquehanna will employ about 660 in the eight-county Philadelphia area, Trapnell said. - Harold Brubaker
Reich earns Learned Hand award
Abraham C. Reich, cochair of Fox Rothschild L.L.P., was selected to receive the annual Judge Learned Hand award of the American Jewish Committee's Philadelphia/South Jersey chapter. He will receive the award Jan. 25. The award was established in honor of Hand, the senior judge of the U.S. Court of Appeals for the Second Circuit from 1924 to 1951, and according to the AJC is presented to leaders in the legal profession who have distinguished themselves based on commitment to civic activism and the American legal tradition.
- Chris Mondics
'Internet 2go' is going, going . . .
Comcast Corp. is winding down its Internet 2go wireless service, which launched in June 2009 and has about 30,000 customers. The cable company offered the service through Clearwire Corp. as an option for cable and Internet customers. Comcast has a new agreement to cross-market and bundle products with Verizon Wireless. Spokesman Charles Douglas said Comcast is no longer actively selling Internet 2go "but we are absolutely committed to serving existing customers." Internet 2go customers will be told when the service will be phased out, but that won't happen for many months, a Comcast spokesman said. - Bob Fernandez
Ametek acquires Mass. firm
Ametek Inc., of Berwyn, said it acquired the privately held scientific-instrument maker Technical Manufacturing Corp. for an undisclosed sum. Technical Manufacturing, which is based in Peabody, Mass., has estimated annual sales of approximately $30 million. Ametek, which makes electronic instruments and electromechanical devices, said TMC would expand its product offerings in ultraprecision manufacturing. Ametek has annual sales of about $3 billion. - AP
CHS buys two Pa. hospitals
Community Health Systems Inc. announced the acquisition of the 217-bed Moses Taylor Hospital in Scranton and the 25-bed Mid-Valley Hospital in Peckville, Pa. The $152 million deal was approved by a Lackawanna County judge last month. Tennessee-based CHS owns Chestnut Hill Health System in Philadelphia, Pottstown Memorial Medical Center in Montgomery County, and Brandywine, Jennersville, and Phoenixville hospitals in Chester County. CHS said it owned, leased, or operated 133 hospitals in 29 states. - AP
Ballard fills two leadership roles
The Ballard Spahr law firm of Center City said John B. Langel has been named chair of its litigation department and William C. Rhodes will head the public finance group. Ballard's litigation department is composed of more than 200 lawyers, while its public finance group, which represents state and local governments and other entities in bond transactions, is composed of 50 lawyers. - Chris Mondics
Kensey Nash declares dividend
The medical-device maker Kensey Nash Corp., of Exton, said it initiated a 25-cent-per-share quarterly dividend payable to stockholders of record Jan. 31. The dividend will be paid Feb. 29. Shares closed up 3.80 percent, at $19.92, before the announcement. - Reid Kanaley
Aqua America sells Maine operations
Aqua America Inc., of Bryn Mawr, said it completed the sale of its Maine operations to Connecticut Water Service Inc. The Maine company, which serves 16,000 customers through 11 water systems, was sold for $35.8 million in cash plus the assumption of $17.7 million of long-term debt. Aqua America, which has been consolidating operations in states where it has larger concentrations of customers, bought the Maine operations in 1999 and expects to book a gain on the sale in the first quarter of 2012. - Andrew Maykuth
US Airways adds nonstop to Utah
US Airways Group Inc. said it would begin nonstop daily seasonal summer service from Philadelphia to Salt Lake City on May 24. Additionally, on March 25, US Airways will add another daily frequency between Philadelphia and St. Louis; Nashville; Houston; Albany, N.Y.; Bangor, Maine; and Indianapolis. Separately, US Airways announced new daily flights at Washington Reagan National airport, where it acquired some takeoff and landing rights from Delta Air Lines. - Linda Loyd
Elsewhere
Obama may install consumer chief
President Obama and his advisers are debating whether to install Richard Cordray as head of the Consumer Financial Protection Bureau as soon as Wednesday, challenging Republican efforts to block appointments while Congress is away from the Capitol, according to two people familiar with the matter. White House officials recognize that appointing Cordray would probably invite a court battle with congressional Republicans during an election year, said the people, who asked not to be identified because they aren't authorized to speak publicly. - Bloomberg News
French firm buys into U.S. shale gas
Chesapeake Energy Corp. said it started a joint venture with a unit of the French energy company Total SA for oil drilling in Ohio's Utica Shale. Total will pay Olkahoma-based Chesapeake and a smaller partner $2.32 billion in a deal that adds U.S. oil and gas assets that have become a common target of overseas oil companies. - AP
Kodak warned on delisting by NYSE
Eastman Kodak Co. has been warned by the New York Stock Exchange that its stock will be delisted if the price remains below $1 per share for the next six months, the ailing photography company said. The exchange put the company on notice after its shares' average closing price was below $1 for 30 straight trading days. Under NYSE rules, the Rochester, N.Y., company has six months to regain compliance with the minimum share price requirement. Kodak shares fell 2.35 cents, or nearly 4 percent, in extended-hours trading after finishing up a cent at 65 cents during the regular session. - AP