Short takes on business in the Philadelphia region, from The Inquirer's Business Desk. For more, go to http://go.philly.com/phillyinc.
Alesco Financial Inc., a firm that invests in real estate securities, paid its outside managers Cohen & Co. more than $48 million in fees in the first quarter, according to a filing with the Securities and Exchange Commission. The firm was founded by Cohen & Co. last year. It's not uncommon for specialty real estate trusts such as Alesco to operate under this sort of arrangement. Both Alesco and Cohen are based in Philadelphia.
- Jonathan Berr
Seeking a say
Lockheed Martin Corp. shareholders rejected a shareholder proposal that future proxy statements list the name and corporate title of executives earning more than $500,000 base pay annually - the vote was 315.3 million shares against; 23.9 million shares in favor. Shareholders also rejected, but by a narrower margin, a proposal that shareholders be allowed to cast an advisory vote on the board's compensation committee report. The vote was 184.3 million shares against; 137.2 million in favor. The voting late last week was reported to the Securities and Exchange Commission on a form 8-K.
- Henry J. Holcomb
Unisys Corp., which last week said it would cut 950 jobs on top of the 5,600 cuts already announced, received an accolade - for recruiting - earlier in April. ERE Media Inc., a publisher of online forums and newsletters about recruiting, named Unisys staffer Brian Krueger as the finalist for recruiter of the year. Krueger was bested only by recruiter Achuthan Nair of Wipro Technologies, a Bangalore, India, company that helps U.S. companies handle their business and technology needs abroad. Unisys, like other companies, has outsourced much of its work to India and other lower-cost locations.
- Jane M. Von Bergen