MIKE ARMSTRONG: Coming up, Campbell ’s Soup has a sweet third quarter; we’ll tell you why chocolate has been better than soup. And George Washington froze there, now tourists may be gambling there. We’ll tell you more. Think everyone in the world is using email? One Philadelphia company is betting against it.  Philadelphia Business Today starts now.

 

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MIKE ARMSTRONG:    It was a sweet third quarter for Campbell ’s Soup. The reason? The sale of its Godiva Chocolate business. Two months ago Campbell ’s sold Godiva to a Turkish company for $850 million. So Campbell ’s Soup was able to report $532 million in net income for the third quarter. It made $217 million for the same period in 2007.

 

There are slots at race tracks in Chester and Ben Salem, and two huge casinos are planned for Philadelphia ’s waterfront. Guess where the next slot machines may be? Valley Forge . That’s right, the same place where George Washington and the Continental Army froze back in 1777. A group of investors wants to put up to 500 slot machines at the Valley Forge Convention Center . It’s a $100 million project and its investors include Ira Lubert, who manages various private equity and real estate funds. Tomorrow, the state gaming board will hold a public hearing on the proposal in King of Prussia .

 

There is big money in paper. Philadelphia-based CSS Industries makes gift wrap, gift bags, greeting cards, and lots of other seasonal products. Now it’s buying a Colorado stationary designer called Iota. Iota products are sold through1600 book stores, art shops, and other specialty retailers. CSS is betting people still want to put pen to paper, and in this case its high end paper. No terms of the deal were announced. The publicly held CSS has more than half a billion dollars in annual sales.

 

 

That’s it for today. At the Inquirer, I’m Mike Armstrong for Philadelphia Business Today.

 

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