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13 SEPTEMBER 2012
REGIONSBUSINESS.COM
WEEKLY BRIEFING
BARTRAM GARDENS
New Leader Announced Heralder of the Philadelphia Green urbangreening program and Harvard graduate Maitreyi Roy will become Bartram Garden’s executive director after Louise Turan’s retirement. Ms. Roy enters the new position having also formerly been senior vice president for programs at the Pennsylvania Horticultural Society, with her resume further bolstered by her experience as a landscape architect with the Boston Parks & Recreation Department. Bartram Garden was founded in the 18th century by John Bartram, leading botanist of his era and largely known as the “father of American botany.” AMUSEMENT PARK
Six Flags Touts Improvements Six Flags’ Wild Safari attraction will undergo changes that will rid the ride of its grassland-traversing family cars. Renamed Safari Off Road Adventure, the attraction will feature what has been described as an “open air” vehicle that takes riders on a tour in a fictionalized setting to see 1,200 animals. The original Wild Safari ride will close this fall and renovations will begin in the winter.
DEVELOPMENT
FILM
University City Unveils New Pedestrian Plaza
Old City Hosts Premiere of Philadelphia-Set Movie
The University City District has finished work on a pedestrian plaza located at 42nd Street and Woodland Avenue next to the University of Sciences, an area district officials hope will enliven what has been described as an otherwise “lifeless” area. Designed and constructed by Think Green LLC, a landscape architecture and ecological design firm located in Glenside, Pa., the project is the first of many that Philadelphia has planned to rejuvenate gray, desolate areas of the city. Next on the list: barren spread of asphalt on 48th Street and Baltimore Avenue. Haverford native Sarah Megan Thomas stands with co-star James Van Der Beek on the set of Backwards. (PDC) NFL
Philadelphia is primed to add one more Hollywood film to its list: “Backwards,” which is Philadelphia-filmed and stars James Van Der Beek and Haverford native Sarah Megan Thomas. The movie will have a red carpet premiere at the Ritz East Theatre in Old City on September 21. Moviegoers can pre-order tickets online. The debut will be preceded by an invite-only event held at the Philadelphia Museum of Art on September 20 in celebration of the museum’s use in two scenes of the movie.
Eagles Energy Efforts Lauded Green is more than just the Philadelphia Eagles’ team color, as it turns out. The Natural Resources Defense Council and the Green Sports Alliance listed the Eagles as one of 20 green-energy leaders, announced at a time when the Eagles continue working to retrofit Lincoln Financial
MEDICAL TECHNOLOGY
(R. KENNEDY FOR GPTMC)
Field with energy progressive solar panels, a natural gas generator and wind turbines that will be responsible for all of the stadium’s energy functions. According to the council, the comple-
tion of the NRG Energy, Inc.-managed project will give the team off-field bragging rights for having “the most extensive on-site renewable system of any U.S. sports stadium.”
STOCK MARKET
Pep Boys Revenue Up; Look to Cut Debt Philadelphia-based Pep Boys saw its net income soar to $33 million — 61 cents per share — during the last quarter. Year-over-year, shares have increased by 26 cents with net income figures previously standing at $13.9 million. Meanwhile, the company’s revenue rose to $525.7 million. Hoping to extend its good fortune into the future, Pep Boys has also announced that it will start debt refi-
nancing in the near future, looking to cut debt by $100 million going forward. Further emphasizing the company’s progress, it has hired David Stern as its new finance chief, replacing recent departee Ray Arthur.
Intact Vascular, Inc. Raises $15.5M for Clinical Study Intact Vascular, Inc. has raised $15.5 million for a clinical study to be conducted in Europe testing a blood flow-improving stapling device intended for leg surgery. Intact, located in Wayne, Pa., is a start-up dedicated to advancing medical device technology. The new project will be led by former CEO of Lutonix, Inc., and now Intact Chairman of the Board, Dennis Wahr. “We are thrilled to have the financial backing of blue chip investors such as Quaker Partners and H.I.G. BioVentures,” said CEO Carol Burns in a press statement. “We are also honored that Dr. Dennis Wahr has joined the team. His proven track record with Kathy Crothall’s experience as a successful entrepreneur, highlights a seasoned, experienced team around the table.” Email Brandon Baker with business news tips at bbaker@regionsbusiness.com