Latest Bulletin. 04.22.15Final - Delaware Business Daily digital

First State Manufacturing
owners win national SBA
award. 6
April 22, 2015
Third Year, 15th Issue
30 pages
Business Bulletin essay
This week
Delaware jobless
rate falls to 4.6
percent. 6
A quick trip to
DiFebo’s new place
in Rehoboth Beach.
Solar City opens
second location
near Newark. 14
A swift or extended final act
for the DuPont we once knew?
By Doug Rainey
ne of the buzz words you hear these
days is “storytelling,” the modern-day
equivalent to sitting around the campfire.
The goal is to tell compelling tales that will grip the
imagination and tug at one’s emotions.
In the digital era, the campfire is online, but at
times extends to the legacy media as it grasps the
need to connect with readers. We saw an example
of this over the weekend as DuPont and Trian Partners, a Wall Street investment group headed by
Nelson Peltz, wage a battle for locally based Du-
A solid performance by CEO Ellen Kullman has not
been enough to keep the barbarians from the gate.
Continued on next page
(Photo from DuPont video)
Trian tale more than a story of heroes and villains
From previous page
Pont Co. stockholders in a vote that many see as too
close to call. Trian wants to add four of its nominees
to the board. The measure is opposed by DuPont
management, which has its own slate, held the door
open to one nominee as long as Peltz was not included.
Both Trian and DuPont took out full-page newspaper ads over the weekend, clearly aimed at employees and retirees who own stock in DuPont. This is in
addition to an online campaign by both entities that
comes complete with videos.
Kullman’s heroic tale
The News Journal followed up the ad barrage with
a story that painted a picture of a DuPont CEO
Ellen Kullman as a heroic, tough-minded Wilmingtonian attempting to keep the Wall Street barbarians (Peltz and Trian) from storming the gate. More
on that later. The barbarian term was popularized by
the name of a book describing actions of investment
cowboys, like Peltz, in the battle over food and tobacco giant RJR Nabisco.
The favorable view of Kullman is widely shared
among friends and associates of the CEO.
Nelson Peltz has worked to
portray himself as a reasonable sort who simply wants
to restore DuPont to its former glory.
The Tower Hill School grad was portrayed as having a common touch, driving a rusty pickup truck
when helping out with the family business. The online version of the piece had the look of an historical
novel, complete with chapters.
The author of much of the tale is long-time reporter Maureen Milford. For decades, Milford has
written about the company from the perspective of
a Wilmingtonian from a DuPont background who
is fascinated by the vast wealth of the family and its
once-pervasive influence over daily life in the state.
Still, anyone from vice president on down will take
a phone call from Kullman. After all, DuPont still has
thousands on its Delaware payroll. The symbolism
remains powerful.
Waning influence, presence in Delaware
The previously mentioned gate is symbolized by
DuPont research facilities in Delaware that company
partisans claim will be shuttered. Among those outside DuPont, the company may be better symbolized
by the Hotel duPont and the DuPont Country Club
the home of many weddings, banquets and other
events that become etched in our memories.
Looming in the background is the decision to move
the company headquarters to its Chestnut Run site, a
move that clearly symbolizes the break with the past.
DuPont spin-off Chemours, will move from Chestnut Run to the downtown office space, at least in the
short term.
A company or a mutual fund?
The story connected with Delawareans who relish
Meanwhile. the landmark hotel, according to
that gentler time. Over the years, the influence of
DuPont and family members, who owned everything some published accounts and scattered evidence
such as the recent sale of nearby parking, is up for
from the News Journal to a controlling interest in
General Motors, has been diminished in the state.
Continued on next page
DuPont warns Peltz’s plan could seriously weaken company
aware with scarcely a whimper from government officials grateful to get crumbs
from the table. Kullman has also shown more patience in this area than many
For his part, Peltz has worked to portray himself as a reasonable sort who simply wants to restore DuPont to its former glory by cutting corporate overhead and CEOS, acquiring Danish food ingredients company Danisco in a lengthy process
Continued on next page
selling off businesses.
From previous page
Based on a previous Peltz ventures, his team is not at all skilled at turning
around chemical companies based on past buying forays, Fortune magazine reported. One investment actually ended up in bankruptcy court.
The problem is that private investment strategies often end up loading up a
company with debt that makes it vulnerable when the next downturn comes
along. DuPont claims Peltz’s strategy would greatly weaken the company’s solid
Kullman - a member of a well-known family in Delaware small business circles - clearly has Wilmington roots that tug at her sleeve.
But don’t be fooled. She clearly understands the way the system works. DuPont, like many mature corporations, operates like a mutual fund, constantly
looking at its investments and figuring out ways to improve returns and attract
young, talented staff to carry out management’s vision.
Company rolled through deep recession
During her tenure, DuPont sailed through the economic downturn. It shed
mature businesses and now derives much of its sales from newer technologies
and processes.
Other than research facilities, those investments are largely made outside Del-
Shareholders with ties to company may face Hobsen’s choice
holder pressure, end up selling off many of their busi- erage and Frito-Lay snack food business, with Peltz
nesses with the core holdings eventually acquired by demanding the two be spun off.
that might have led other executives to walk away.
some multi-national giant. My mythical vote (I do
Sadly, high stock market prices, antitrust issues and not own any shares) would be with DuPont manage- Peltz ended up calling a truce, with Pepsico adding
ment, based on the solid performance of Kullman
a member of his board slate.
perhaps the battle with Trian, have not led to any
and a lack of evidence that Peltz and Trian bring anyother large deals.
thing of value to the party.
Pepsico was able to avoid the issue of adding Peltz
to the board, a non-negotiable demand in the TrianThose factors and the skill of the company in opAt the same time, DuPont’s local shareholders may DuPont battle. Peltz serves on the board of a competerating worldwide have kept DuPont’s stock price
not automatically side with the company slate, bar- ing food company.
healthy. Peltz disagrees claiming his plans, boosted
ring fears that Peltz might raid pensions programs
the price.
Continued on next page
should he gain more influence over DuPont.
From previous page
Management deserves yes vote, but...
Peltz argues that a mix of businesses, ranging from
solar power products to Pioneer seeds, is unwieldy
and leads to excessive overhead that could be slashed
through further spin-offs and sales.
Decades of restructuring have led to more retirees
than active employees and there is a reservoir of resentment over actions that sent many to the sidelines
over the past two decades.
A slow or speedy finale?
In the case of Chemours, it was decided, perhaps
Some, see Kullman as a figurehead presiding over
with a push from Peltz, that a mature chemical busithe demise of the company and some commenting
nesses and the liabilities that come along for the
on social media posts have taken note of her gender.
ride, could be spun off in a separate company.
Wall Streeters also do not like the cyclical nature
of the chemical business, even though some DuPont
holdings enjoy big market shares.
Typically, such spin-offs, facing their own share-
That sexist undercurrent has been alleged in the
Trian strategy.
A previous target of Trian was the Pepsico, a company headed by a female CEO. Pepsico owns a bev-
AZ lung cancer drug shows promise
AstraZeneca is reporting that early research indicates orally once a day. Antoine Yver, head of oncology,
that an experimental drug can lengthen the lives of
Global Medicines Development, AstraZeneca, said:
those with a type of lung cancer by a year.
“We are committed to developing novel medicines
that address the significant unmet need in lung cancer
Data presented at European Lung Cancer Congress by focusing on the genetic drivers underlying the
2015 shows delay in disease progression by more than disease. We are on track for a regulatory submission
a year for a drug now known as AZD9291.
of AZD9291 in the US in the second quarter of this
year. Our extensive clinical researchprogram is also
Sixty-three were part of a study. The drug is taken
investigating the potential of AZD9291 in earlier
disease and in combination with other pipeline
Gender issues lurk in background
From previous page
Against that background, local shareholders with
employment or other ties to the company could see
the vote as a Hobson’s choice. It may come down
to a speedy end to the DuPont we once knew from
We could also see a more drawn out process under
management that is no longer willing to fight for
symbols of the past like the hotel, country club and
Wilmington headquarters.
In other words, both Trian and DuPont were wise to
take out those ads.
Editor’s note: The author has covered corporate takeover
battles, of and on, for 30 years.
5th Annual W.L. Gore Lecture Series in Management Science
of Service Quality
Thursday, April 23
University of Delaware
CFA, Gore Recital Hall
3:00 p.m.
A. “Parsu”
Professor, and Department
Chair, Marketing at the
University of Miami School of
Business Administration
A. Parasuraman is considered one of the
most influential figures in the field of
services marketing and service quality.
Open to the public
Register on line:
Sponsored by an
from the Gore family.
First State Manufacturing owners
win national small business honor
irst State
owned by Eli and
Sher Valenzuela, have
been named the SBA
National Champion in
the 8(a) graduate category.
owners honored by President
Obama at the White House.
First State, which is based in
Milford, has grown from one
employee to nearly 100 since its
founding in 1998.
“First State Manufacturing
First State provides
is a great example of how hard
upholstering and
work and persistence can take a
insulating services to the
business from a single employee
U.S. military and many
Eli and Sher Valenzuela (SBA photo)
with a single sewing machine
commercial entities.
in their garage… to one of
According to the SBA,
the top businesses in Delaware and the country. The
the company has saved the US taxpayer millions
American Dream is still alive as evidenced by Eli
of dollars by providing on time delivery of services
at prices well below the previous cost. The company and Sher Valenzuela,” said SBA Delaware District
also provides a form of body armor to the military in Director, John Fleming
Sher Valenzuela said, “What a great honor to be
selected as the Nation’s Top 8(a) Graduate by the
They are only the second national champion in
SBA. We have been very fortunate to work with
Delaware history. The other national winners were
Bobby Pancake and Steve Wheat owners of the local such tremendous team members as employees, and
have benefitted from the many SBA programs that
Buffalo Wild Wings franchise for Entrepreneurial
have served to support our hard work and bring our
Pancake and Wheat were among the small business
Continued on next page
Sallie Mae, vendor moving all
customer service jobs onshore
Sallie Mae has moved all customer service for its
$9.7 billion private education loan portfolio to the
United States. The decision is not expected to result
in additional customer service jobs in Delaware.
Sallie Mae is headquartered near Newark.
“Customers want – and are entitled to – simple,
straightforward and accurate information and
counseling. Our goal is to provide that on each
and every call. This decision is an important and
necessary step to take our customer service to the
next level.”
The decision is part of the company’s $5 million
In addition to its own customer service operation
investment in enhancing customer service, according
to a release.
at company headquarters, Sallie Mae contracts with
Telepeformance, a customer experience management
company, for servicing support. Sallie Mae’s decision
“As a consumer banking business, we are focused
to locate its private education loan customer service
on the success of our customers and that means
in the United States will add about 250 jobs at
providing a first-rate customer experience,” said
Teleperformance facilities in Abilene, Texas and
Raymond J. Quinlan, CEO.
Hobart, Ind. The job move is not expected to affect
local employment numbers at Sallie Mae, which
employs about 680 here, a spokesman stated.
Valenzuelas 8(a) winner
From previous page
dreams to fruition while serving our family, state, and
The 8(a) Business Development Program is a
program for small disadvantaged businesses. The 8(a)
Program offers a broad scope of assistance to firms
that are owned and controlled at least 51 percent by
socially and economically disadvantaged individuals.
“Teleperformance is proud we have been selected
to provide high-quality customer service in both
Texas and Indiana for Sallie Mae. This client places
the utmost importance on a great experience for
their customers,” said Paulo César Salles Vasques,
CEO, Teleperformance Group. “Based on Sallie
Mae’s mission, we are also really excited in helping
students fulfill their education and reach their full
individual potential.”
Located in New Castle, DE | 302.262.9905
Jobless rate in Delaware
declines to 4.6 percent
The seasonally adjusted jobless rate in March was
4.6 percent, down from 4.8 percent in February.
That added up to 21,000 unemployed Delawareans
in March 2015 compared to 26,700 in March 2014.
The Business Bulletin offers numerous
opportunities for advertising messages and
sponsorships for its business-to-business
audience at highly affordable rates.
The nation’s unemployment rate was 5.5 percent
in March 2015, unchanged from February 2015. In
March 2014, the U.S. unemployment rate was 6.6
percent, while Delaware’s rate was 6 percent.
In March 2015, seasonally adjusted non farm
employment was 444,500, up from 442,600 in
February 2015. Since March 2014, Delaware’s total
nonfarm jobs have increased by 8,900, an increase
of 2.1 percent. Nationally, jobs during that period
increased 2.3 percent.
The monthly report took note of the issue of pay
not keeping up with employment growth.
he Delaware
Bulletin is an
electronic business
journal published in
a digital format each
Wednesday by Bird
Street Media, LLC,
Newark, Del.
(Graphs courtesy of the Delaware Department of Labor)
he unemployment rate for Delaware in
March fell to 4.6 percent from 4.8 percent
in January, the state Labor Department
reported last week.
The report suggested that any analysis focus on
long-term payroll figures, rather than the sampling
process that also takes place and ends up on
employment reports.
According to the labor department, “wages coming
from payroll data increased by 0.6 percent in 2013,
and by 2.3 percent in 2014 .
Continued on next page
For further information on advertising and
sponsorships, e-mail Michael Klezaras at
[email protected]
The Business Bulletin and the companion website are
proud members of Local Independent News
Publishers (LION).
Report: Payroll reports indicate wage gains
higher than first indicated in sampling data
From previous page
However, average earnings from the survey fell by
1 percent in 2013 and by another 0.7 percent in
2014, while they jumped up by 5.3 percent for the
first two months of 2015.” The report continued:
“The divergence is greater going further back – from
2007 to 2014 total wages are up by 12.7 percent,
while the survey – based earnings are down by 5.3
percent. This is one of the two largest divergences in
the nation, probably due to small sample size
The state analysis did not calculate the effect of the
cost of living, Inflation, while low, would have wiped
out much of the income gains cited in a payroll
The issue of work pay has been used by politicians
and public policy groups on both ends of the
political spectrum in claiming the failure of Obama
administration policies, and/or the income gap
between wealthy CEOs and lower level employees.
The broad services category posted the strongest
performance. However, manufacturing and
construction remained largely unchanged from a
year ago.
A quick trip to newly opened DiFebo’s in Rehoboth Beach
The popular outdoor dining area remains.
We opted for an early dinner, shortly after
DiFebo’s opened.
decision to make a quick trip to Rehoboth
on a beautiful day led us to walk through a
part of the handsome residential area in the
beach town.
We were the first diners to arrive for the day
at the friendly, fully staffed restaurant.
On our way back to the beach, we stumbled across
DiFebo’s, the new restaurant at the former of longtime Italian dining spot, Adriatico.
DiFebo’s has been operating in Bethany Beach for
a quarter of a century under the ownership of a well
known family of Delaware restaurateurs. In northern Delaware, a relative owns the Wilmington staple
Feby’s Fishery.
In Bethany, DiFebo’s is open for breakfast, lunch and dinner. On the day of
our visit to Rehbooth, DiFebo’s was only open for dinner, with lunch coming
later this month.
Based on recent stories on the new dining spot, co-owner Lisa DiFebo, Osias,
had been planning to expand to Rehoboth, an area with its larger year-around
population that is keeping more businesses open year around. The former Adriatico dining rooms have undergone an impressive makeover with a light, airy
décor that reflects its setting near the beach.
DiFebro’s is bringing more traditional Italian cuisine to a Rehoboth dining scene that
can be a bit on the foofoo side.
The restaurant prides itself on the family recipe for its red sauce and freshly made ravioli.
The signature dish of ravioli, We were not to be disappointed. The ravioli
red sauce and a meatball.
with red sauce and meatball ($16) came in a
couple of steps above many similar offerings
elsewhere in the state. The portion, while large, was filling, but not pack it up
and take it home size.
The second selection was the daily special, crab ravioli with a fresh spinach and
Parmesan cream sauce. At $26, it was on the pricey side, but worth every penny,
The ravioli were generously stuffed with crab meat and the sauce was memorable.
Continued on next page
Drip Cafe food truck & Restaurant Week
From previous page
the city itself. It also comes during a period of foodie
events that include the Meals on Wheels benefit and
the Mid-Atlantic Food + Wine Festival.
This year, Restaurant Week was expanded to include the west side of the city. The event had previously been limited to downtown and the riverfront.
Sixteen restaurants are participating
Restaurant weeks present a challenge and opportunity for dining spots. Meeting the price points is not
easy and picky diners who are not happy with service
or food quickly turned to Yelp or other online sites
The quality of food and friendliness of DiFebo’s will
to air their views. On the plus side, the week offers a
be tested by the summer rush and the foodie tastes of
change to make first-time diners into regulars.
many visitors. The menu and daily special should be
sufficient for the more adventurous and a nice refuge
Birthday, food truck for Drip Cafe
for those hoping for more traditional fare.
Restaurant Week runs through Friday
Wilmington’s Restaurant Week quietly kicked off
this week and runs through this Friday. The annual
event follows the format standard format of $15
two-course meals at lunch and $35 for two-course
Restaurant Week has kept a relatively low profile
over the years, since it is limited to dining spots in
Hockessin’s Drip Cafe is celebrating its second
birthday. During its brief existence, the coffee, breakfast and lunch spot has gained a devoted following with its attention to detail and some interesting
menu items at a reasonable price.
Now, Drip Cafe is joining the growing ranks of
food trucks in the area, with a “Brunch” truck.
The truck is expected to visit employment sites and
events where attendees are now looking for food
trucks. - Doug Rainey
The following stories in recorded
the most visits during Mach.
1. Hunters Den, Sussex restaurant site
2. Ton and a half of sulfur dioxide released
at refinery
3. 3 Beaver Valley Road office building
sells for nearly $62 million
4. WDEL goes on air at KISS FM slot
5. Business people: April 15, 2015
6. Sears to retire as president of
Community Foundation
7. Jobless rate drops to 4.6 percent
8. DuPont issues another letter in proxy
battle as report surfaces about hotel being
up for sale
9. Christiana Mall area moves into the fast
10. Whiting Turner selected as contractor
for $250 million Milford health campus
earth day
SolarCity opens second Delaware location in Glasgow
Click here for photo gallery
whether paying the upfront costs or going with a
supplier, like Solar City, makes the most sense. Solar
City now has about 90 employees in Delaware, with
plans to add another 50 positions The hirings are
good news for Delaware, which saw the closing last
year of the Motech plant near the 9,000-square-foot
space now occupied by Solar City.
On hand were local government officials and Gov.
Jack Markell. The ribbon cutting ceremony was
conducted by the New Castle County Chamber
of Commerce. SolarCity opened its first Delaware
operations center in Seaford about a year ago. Solar
City has about 70 centers. Click here for previous
Business Daily stories on Solar City and solar power
in the state.
A pioneer in solar energy, Delaware was the home
of AstroPower, a company founded by a University
of Delaware researcher. Assets of that company
were later sold to GE, which then sold the Pencader
operations to Taiwan-based Motech. Motech kept a
headquarters operation in New Castle.
olarCity, last week, cut the ribbon at its second
Delaware operations center in the Pencader
Corporate Center in the Glasgow area south of
The Newark center’s regional operations manager is
Jim Kelley. Kelley has worked in the solar installation
business in the state for a number of years.
Markell told those on hand that he is pleased with
the expansion of SolarCity, a company that offers
Long-time Delaware solar system installer Jim Kelley heads
the Newark-area office.
a way for homeowners to add solar power without
major up front costs.
The governor noted that he paid far more when
he had solar panels installed in his home. In return
for the reduced installation cost, SolarCity shares
a portion of the business or home owner’s revenue
from solar power when it is fed into the electric grid.
Consumers and businesses are advised to check out
The solar manufacturing industry has seen sharp
reductions in the cost of cells that has led to charges
of “dumping” Chinese-made solar cells sold in the
U.S., as well as plant closings.
On the plus side, the lower costs have made solar
power increasingly competitive.
earth day
Lewes ferry terminal now has car charging station
elaware River and Bay Authority officials
announced that the two electric vehicle
charging stations at the Lewes Terminal of
the Cape May – Lewes Ferry are now available.
The DRBA received the stations through a
collaborative research program agreement between
the University of Delaware and the Delaware
Department of Natural Resources and Environmental
Control. The Program, “Charging-Up Delaware” is
designed to promote a network of charging stations
located in the public parking lot near the passenger
to facilitate long-distance trips with electric vehicles
terminal building, are available during the Cape Mayin the state.
Lewes Ferry’s business hours. The DRBA maintenance
department installed both the charging stations as
“The charging stations are really convenient and
well as the terminal signage directing electric vehicle
easy to use,” said Laura Trethewey of Rehoboth
owners to their location. The stations are available at
Beach, the first customer to use the charging station. no charge, on a first-come, first-served basis.
“It’s a great service for both locals and Ferry customers
who are looking for a place to recharge their electric
The Charging-Up Delaware program is designed
to encourage the adoption of electric vehicles by
removing an obstacle to the adoption of electric cars:
The faster-charging Level 2 stations, which are
“range anxiety.” Potential buyers may hesitate to
purchase the vehicles for fear that their battery will
run out of charge beyond the range of a charging
station. Based on studies by UD and other EV
research institutions, placing charging stations at
key locations will encourage use of electric vehicles,
whether used to recharge, or simply to lower anxiety
by knowing they are available if needed.
“The ferry is already a tourism magnet, helping
more than a million people a year cross the Bay or
visit its shoreline,” said Heath Gehrke, director of
Ferry Operations. “We are happy our full-service
Lewes Terminal now provides the owners of electric
vehicles with a bayfront haven during their coastal
Delaware visit.”
Despite lower gas prices and the lack of strong
demand when gas prices were higher, sales of electric
cars have increased.
The effective range of electric vehicles has also
Continued on next page
earth day
AAA again offers trees for batteries
From previous page
increased. The range can very from under 100 miles
for the Nissan Leaf ($29,000 to 200 or more for
the luxury Tesla automobile, more than $100,000.
Owners get a $7,500 tax break.
AAA and Wilmington-based AAA Mid-Atlantic
have again partnered with the Arbor Day Foundation
to plant a tree in a National Forest for every battery
that is recycled starting today.
Tesla, which do not use the standard charging
system has a station at the Delaware Welcome Center
on Interstate 95 south of Newark.
The Cape May-Lewes Ferry is owned and operated
by the Delaware River and Bay Authority, a bi-state
governmental agency.
Nature Society honors Tatnall School
The Delaware Nature Society recently presented its
2015 Outstanding Environmental Educator Award
to The Tatnall School for going “above and beyond”
to ensure its students develop a sense of stewardship
for the environment.
Shown in this photo from Tatnall, are, from left to right:
Charlie Tierney, Dr. Peter Bookman, Nancy Flanagan,
Greg Mentzer, Karen Barker, Sharon Kreamer and Dr. Dean
Whenever an AAA member has a new car battery
installed and the old battery recycled, the auto club
will have a tree planted in one of America’s national
forests. Nationally, AAA has recycled more than
10.5 million automotive batteries and continues to
promote the importance of recycling the automotive
part since improperly stored or disposed of car
batteries create environmental hazards.
The auto club first began its mobile battery recycling
efforts in 1997, and this year, AAA anticipates it will
replace and recycle an additional two million batteries
via its roadside battery replacement service.
Delaware Nature Society also recognized Tatnall
for establishing a “Monarch Waystation” native plant
garden, student greenhouses, a vegetable garden and
apiary, as well as its 2.5 miles of trails on campus. On
AAA Mid-Atlantic recycles more than 142,000
hand to receive the award were members of Tatnall’s
batteries a year on average throughout New Jersey,
Noting that Tatnall integrates environmental science environmental science and field studies team, who
accepted a personalized watercolor painting, as well as Pennsylvania, Delaware, Maryland, Virginia, and the
education across its preschool, elementary, middle
$500 worth of programming at any Delaware Nature District of Columbia.
and high school curriculum,
Society site.
DNREC, drug company reach $2.75 million clean-up deal for Sussex site
Mallinckrodt also agreed to pay for any future
NREC and a veterinary drug firm have
unreimbursed oversight costs for DNREC not
signed a nearly $3 million environmental
covered under the cooperative agreement for the
clean-up agreement as part of a longrunning water and soil contamination case at the site. contaminated site, dated September 21, 2012,
between DNREC and the US Environmental
Mallinckrodt Veterinary, Inc. entered into a consent Protection Agency.
decree by order of DNREC Secretary David Small
Mallinckrodt Veterinary, Inc. and Intervet, Inc.
that requires the company to reimburse DNREC
more than $2.75 million for past costs associated with also entered into administrative settlements with
an investigation and contamination cleanup at a site the US Environmental Protection Agency for the
investigation and remediation of the Millsboro site.
near Millsboro.
DNREC continues to review and provide comment
The site was a former poultry vaccine manufacturing on technical documents on site remediation, with
cost supported by a cooperative agreement with EPA.
plant where trichloroethylene, commonly known
as TCE, was used. Click here for background
information on TCE.
The settlement amount is by far the largest in the
history of Delaware’s Hazardous Substance Cleanup
Act (HSCA) program administered by DNREC’s
Site Investigation & Restoration Section. TCE was
commonly used as a solvent
The consent order enables DNREC to recover
all costs from Mallinckrodt and Intervet corporate
entities incurred by the department at the site
through March 31, 2014.
In addition DNREC will be considering Natural
Resource Damage Assessment (NRDA) against the
responsible parties in the future. TCE was used at
the site for the manufacturing of poultry vaccines
between 1952 and August 1999.
Previous owners and/or operators of the source
area property included: Hiram N. Lasher; Delaware
Poultry Laboratories, Inc.; Sterwin Laboratories;
Mallinckrodt Veterinary, Inc., and Schering-Plough
Animal Health Corporation. The poultry vaccine
manufacturing building was demolished in December
1999 and is currently a vacant lot.
Click here to register
May 20,
Capital One,
Proposed federal IRA, 401 (K) rule draws, praise scorn
he U.S. Department of Labor has released
a proposed rule that aims to protect 401(k)
and IRA investors from what it views as
conflicts and excessive fees by financial advisors.
The measure is expected to be opposed by the financial services industry, which has been battling a
number proposals coming out of the Obama Administration.
The issue of fees and conflicts of interest in 401 (K)
and IRA investments has taken on added importance
as defined benefit plans (pensions) go away at most
non-government employers and individuals roll over
their 401 (Ks) to IRAs after leaving jobs
A White House Council of Economic Advisers
analysis found that these conflicts of interest result in
annual losses of about 1 percentage point for affected
investors -or about $17 billion a year.
“Through the development of savings vehicles such
as 401(k)s and IRAs, saving and investing in America
SIFMA, an association representing the securities
Under the proposals, retirement advisers will be
has been democratized. Yet even with all these opindustry, issued the following statement from CEO
required to put their clients’ best interests before their
tions, we still aren’t saving enough. Which is why
Kenneth E. Bentsen, Jr., on the retirement rule .
own profits, according to a Labor Department release.
it’s astonishing that the Labor Department would
“This is a voluminous rule where the fine print mat- contemplate a regulation that would remove retireFinancial services companies in Delaware have piecment choices. Unfortunately for many hard-working
ters. We want to ensure it protects investor choice
Americans, Labor’s proposal, no matter how well-in- es of the 401 (K) and IRA business.
and doesn’t unnecessarily reduce access to education
or raise costs, particularly for low and middle income tentioned, could worsen the retirement crisis we face
One of the largest companies involved in the industoday.”
savers. With so much at stake, we will thoroughly
try, Vanguard, is based in Valley Forge, Pa. and emreview the rule and its impact on investors, and exAARP immediately came to the defense of the pro- ploysh a number of Delawareans. Vanguard has built
press our views in the public comment period, Bentsen stated. Bentsen took a harder line in a viewpoint posed rule and urged members to offer their support its business on index funds and low fees.
during the comment people.
column in USA Today. The following is an excerpt:
Global Debt Registry TransUnion announce collaboration
TransUnion and Wilmingtonbased Global Debt Registry announced a collaboration to market
debt registry services for debt buyers, collectors and financial institutions. TransUnion is best known
for providing credit scores.
GDR’s enables debt owners
to accelerate collections through Parsells
streamlined access to account information.
said Peter Ghiselli, vice president in TransUnion’s
specialized risk business unit. “The ability to team up
with GDR to offer our clients GDR’s tools to manage
account information post charge-off and to support
validation of a given debt is a natural extension to
our core services offered to financial institutions, debt
collectors and consumers. We are excited about our
strategic marketing arrangement with an innovative
pioneer like Global Debt Registry.”
market of debt buyers, collectors and financial institutions to reduce costs and risks, improve transparency
and efficiencies to the debt ownership industry.”
Prior to joining Global Debt Registry Parsells ran
divisions for Citigroup, American Express and Bank
One and its predecessor, First USA. Global Debt Registry was founded in 2005. For more information,
Global Debt Registry noted that the $3.3 trillion
M&T wins business banking awards
market for unsecured consumer debt has no clearinghouse to securely manage supporting account inforM&T Bank has been recognized by Greenwich Asmation and minimize risk from financial institutions sociates with 16 Greenwich Excellence Awards - 13
It also gives businesses the ability to securely validate account ownership information with supporting transferring debt.
national and three regional honors - for providing
documentation and consumer access.
excellent banking products and services to small and
“For debt buyers, collectors or original creditors,
mid-sized companies.
the lack of a transparent digital marketplace has led
GDR uses Debt Lookup, an online consumer acto a steady increase in industry issues, which is incess service providing secure and easy access to acGreenwich Associates surveys small and mid-sized
count-level data and documents supporting claims by creasingly the focus of multiple regulators,” said Mark businesses about their overall satisfaction with their
Pasells, CEO of Global Debt Registry. “TransUnion is bank, the capability of their relationship manager, the
legitimate debt collectors.
the leading provider of information for collections in- bank’s treasury management services and a number of
“TransUnion’s information solutions offer valuable dustry. GDR and TransUnion’s mutual customers will other service categories.
benefit from our collaboration, which offers a broader tools for the growing accounts receivable market,”
Currency adjustments take bite out of DuPont earnings
Kullman says company’s
strategy remains on track
uPont Co. reported lower earnings for the
first quarter, due in part to the currency
impact from a strong dollar.
The board did increase the company dividend, due
to confidence of strong results in this year. The share
price was down about 3 percent on Tuesday, but recovered somewhat in after-hours trading. However,
earnings were slightly above analysts’ estimates.
reduction, even in the midst of challenging currency
and market environments,” said Ellen Kullman, DuPont Chair and CEO. “We expect performance in the
remainder of the year to build on this momentum,
driven by new product sales and benefits from our accelerated operational redesign. We are also announcing our fourth quarterly dividend increase since the
beginning of 2012, reflecting our confidence in the
continued strength of our ongoing, post-spin business
and our ability to advance our record of stable growth
while returning capital to shareholders.”
She continued: “2015 is an important year in our
transformation. The spin-off of Chemours is on track
rency impact, compared to $1.58 per share in the
The earnings were not good news in company efprior year. DuPont also announced that its board of for the middle of this year, and we expect to return to
shareholders substantially all of the approximately $4
forts to elect its slate of board members, rather than
directors approved a second quarter dividend of 49
those of dissident shareholder Nelson Peltz and Trian cents per share, a 4 percent increase over the 47 cents billion of one-time dividend proceeds within 12 to
18 months of the separation, a portion of which will
Fund Management.
paid last quarter.
occur before the end of 2015. Following the separation, DuPont will be fully focused on three highly
Peltz has claimed, the company needs to be split up
This is the fourth increase since the beginning of
attractive strategic focus areas where our science and
and has a corporate structure with overhead costs that 2012. The second quarter dividend of 49 cents per
engineering capabilities can deliver the greatest value
are excessive.
share of common stock is payable on June 12, 2015
for shareholders. We are confident that DuPont will
to stockholders of record at the close of business on
continue its momentum, growing value for shareholdHowever, analysts have said short-term results are
May 15, 2015. ers by leveraging our innovation platform, focusing
unlikely to have much of an impact on the big instiintently on operational efficiency and costs, actively
tutions that own most of the company’s stock.
“DuPont delivered volume and margin improvemanaging our portfolio, and through the disciplined
ments in the majority of our post-spin segments
First quarter 2015 operating earnings of $1.34 per through intense focus on innovation, disciplined exe- return of capital.” share, which includes a $0.25 per share negative cur- cution and ongoing efficiency improvements and cost
Morgan named Wilmington managing partner at Fox Rothschild
Fox Rothschild LLP announced
that Sharon Oras Morgan will
assume the role of office managing
partner for the firm’s Wilmington
In her legal practice, Morgan has counseled clients,
particularly those in the environmental services,
transportation, and manufacturing industries, for
more than two decades on complex environmental
and commercial matters. Her national practice is also
known for its focus on real estate, toxic tort, and trust
and estate litigation.
The office managing partner
is charged with overseeing and
Morgan received her J.D. from Widener University
managing the day-to-day office
School of Law in 1990, her M.B.A. from University
operations in addition to serving
on the firm’s Executive Committee, which sets overall of Delaware in 2004 and her B.A. from Rutgers
University in 1987.
policy for the firm.
Morgan will take over the role of Wilmington office
managing partner from Neal J. Levitsky, who served a
five-year term in the position.
A leader in the firm, Morgan also serves as co-chair
of the Environmental Practice Group and co-chair
of the Business Development Subcommittee of the
Women’s Initiative. She previously served as co-chair
of the Connectivity Subcommittee of the Women’s
Plankinton joins Gawthrop Greenwood
Mary Ann Plankinton has joined the law firm of
Gawthrop Greenwood, PC, as a partner. Licensed
in Delaware and Pennsylvania, she has a multijurisdictional practice focusing both on family law,
including divorce, support, custody, and adoption, as
well as estate planning and estate administration.
She will divide her time between the firm’s long-
standing home in West Chester, PA and its more
recent expansion in Wilmington. “For more than
two decades, Plankinton has helped individuals and
families in Delaware and Pennsylvania during periods
of transition and need,” says Walter Eells, chair of the
Gawthrop Greenwood Management Committee. “As
a trained mediator in family law and estate matters,
she brings a wealth of experience to the services we
offer our clients in the region.”
Plankinton has authored articles on a variety of
topics relating to family and estate law. Appointed by
the Delaware Family Courts as a guardian ad litem,
she volunteers through the Delaware Office of the
Child Advocate to represent children in foster care to
ensure that they have a voice in the court. She also
chairs the Chester County Orphans’ Court mediation
Prior to joining Gawthrop Greenwood, she was a
partner with MacElree Harvey in Kennett Square, PA.
Earth Day, DuPont’s battle and turning on a dime
Last week did not start out with
an essay on DuPont Co. and its
battle with activist investor Trian
partners; nor were there any plans
to have Earth Day focus pages,
or for a quick review of the new
DiFebo’s restaurant in Rehoboth
Doug Rainey
That may be a sign of poor
planning or the ability of this
digital enterprise to pivot and cover a rapidly
changing business community.
The Earth Day focus came after seeing a series
of stories and releases arriving via Email, as well as
routine coverage.
Earth Day also brought up memories of DuPont
Co. I remember a story in People magazine with a
photo of DuPont’s courtly CEO Ed Woolard being
profiled in the magazine as the head of America’s top
It was Woolard, who set into motion the DuPont
we see today, that is now headed by CEO Ellen
Kullman. The pollution title no longer applies, but
the same global and Wall Street forces that led
Woolard to preside over a massive restructuring of the
company remain in place.
Like many readers, I was impressed with Maureen
Milford’s News Journal profile of DuPont CEO Ellen
The piece contained many revelations about
We are clearly at a turning point when it comes to Kullman, who has kept a rather low profile since
energy and its role in the environment. Solar is also
taking the top job at a multinational company
gaining momentum despite lower oil prices. The entry that wears out CEOs with complex businesses,
of SolarCity into northern Delaware is a significant
global travel schedules and the task of dealing with
institutional shareholders .
At the same time, there as a feeling of déjà vu, with
a classic tale of a heroic CEO standing up to the
quick buck artists who would strip the company of its
assets. This story has played itself out many times at
many companies and the ending is rarely the stuff of
With the possible exception of research, she is not
the keeper of the flame for the DuPont we long for.
Kullman is willing to part with many visible local
symbols of the company, the hotel, country club,
Playhouse theater and headquarters in downtown
It is not enough for Peltz and the proxy battle is
shaping up as a referendum on Kullman’s tenure.
It’s also the sort of thing you see when the stock
market is operating at frothy levels and opportunities
by Wall Sreet gunslingers to quickly cash out are
fewer. I wish Kullman well, but as my essay noted, an
era is ending at DuPont, no matter who ends up
calling the shots.
MySherpa on list of top global managed service providers
MySherpa has appeared on Penton Technology’s
eighth-annual MSPmentor 501 Global Edition, a list
and report identifying the world’s top 501 managed
service providers (MSPs). The complete 501 list is
currently available on the MSPmentor. Additional
lists include:
you with high quality information about the
most successful business models, pricing, vertical
markets and other approaches to running your
businesses in 2015 and beyond.”
December 2014 through January 2015. Rankings are
based on Penton Technology’s criteria for MSPs such
as annual recurring revenues, total revenues and more.
- The top ranked MSPs in North America
- The top MSPs in Europe, Middle East and Afric
- The top MSPs in Asia, Australia and New Zealand
This year the top MSPmentor 501 companies
- The top Small Business MSP list comprised of the
top companies in our annual survey with 10 or fewer recorded higher recurring revenues than ever before.
Combined, the total annual recurring revenues for all
of MSPmentor 501 2015 companies reached a record
high of $3.95 billion in 2014, up 26.5% year over
“We are quite pleased to be recognized as one of
the World’s top 501 managed service providers,” said year.
Greg Gurev, head sherpa, MySherpa. “It is great to
receive recognition from our peers which validates the “Thank you to all the companies who participated
in this year’s MSPmentor 501 survey, and
hard work of the Sherpa teams.”
congratulations to the companies that ranked on our
501 list, our regional lists and our Small Business
Each year, MSPmentor gathers information for
list,” said Jessica Davis, editor in chief of MSPmentor
its annual rankings through the participation of
and executive editor at Penton Technology. “Your
managed service providers and IT service providers
in an annual survey. The survey was conducted from participation enables us to continue to provide
MySherpa provides relationship based managed IT
services for businesses in the Greater Philadelphia, PA
and surrounding regions.
Delaware Tech wins technology honor
Delaware Technical Community College ranked
fourth nationwide for excellence in information
technology in the 2014-2015 Digital Community
Colleges Survey. A top-ten ranking reflects a
comprehensive implementation of technology to
support college operations. The survey analyzes
how community colleges use digital and emerging
technologies to improve services for students, faculty
and staff.
Delaware Tech President Mark T. Brainard stated,
Continued on next page
last week. The event, held at the Horn Program in
Entrepreneurship at the University of Delaware, late
this month, will select winners in the start-up idea
From previous page
“This award validates the hard work of the
college’s information technology, web services and
institutional research divisions, as well as that of the
entire Delaware Tech team to provide exceptional
service and enhance student success through the use
of technology.”
The Center for Digital Education is a national
research and advisory institute specializing in K-12
and higher education technology trends, policy
and funding. The Center for Digital Education is a
division of e.Republic, the nation’s only media and
research company focused exclusively on state and
local government education.
“Technology is being used to lower costs and
improve student outcomes,” said Alan Cox, senior
vice president for the Center for Digital Education.
“This year’s survey indicates that community
colleges are making great strides in using data
Tech Forum hears Hen Hatch pitches
to improve decisions, providing professional
development to assist faculty in the use of technology,
and creating robust online and mobile environments
he Technology Forum of Delaware
for their students. Congratulations to this year’s
members last week heard pitches from the
survey winners.”
annual Hen Hatch start-up competition
The five-minute presentations were made by the
following start-ups coming out of the Horn Program.
- JoeBiotics, a company that aims to combine coffee
creamer with probiotics health supplements taken by
many people.
- The Practice Set, a web-based service that would
help college students learn science and math.
- Projected U, a projection service that would offer
campus information before classes.
- GoHappy, a service that aims to help retailers and
other businesses connect with customers in cities.
- Throwback, a device that allows solo baseball
The Technology Forum of Delaware holds monthly
information and networking sessions on the third
Wednesday of the month. Next month’s event, on
May 20, will feature Technology Trends competition
at the Capital One employment site on Delaware
Avenue. For further information, click here. (Photos
by Doug Rainey)
not for profit
Highmark Ks for Kids; another award for Goodwill
Highmark Blue Cross Blue Shield Delaware announced that as part of its annual Ks for Kids program, the company will donate $10 to the Ronald
McDonald House of Delaware for every strikeout
The Ronald McDonald House of Delaware offers
a nurturing environment where families can stay
together and find support.
Arline Docherty,
Goodwill’s Executive Administrative Manager as a
Since its opening in 1991, the house has welfinalist for Admincomed more than 39,800 families. Amenities include istrative Support Person of the Year.
a laundry facility, a library, hot evening meals and
weekly activities including pet therapy.
Hockey event raises $1,400
This is the eighth year that Highmark Delaware has
The annual Hockey for Haxton event raised $1,400
thrown by a Blue Rocks pitcher at Frawley Stadium, partnered with the Wilmington Blue Rocks as part
for Easter Seals to help provide therapy services for
of the Ks for Kids program. Since 2006, $46,000 has people with disabilities in Sussex County.
up to a total of $5,000.
been awarded through Ks for Kids to six different
Hockey for Haxton is an annual indoor tournaorganizations.
“With our annual Ks for Kids program, we at
ment in memory of Amanda Haxton, a member of
Highmark Delaware have the opportunity to support
the Delaware Shore Field Hockey community and a
the community while spotlighting an organization in Small Business Chamber honors Goodwill
former athlete at Cape Henlopen High School and
Delaware that makes a difference in the lives of our
East Stroudsburg University.
children,” said Highmark Delaware President Tim
At their annual awards brunch in Newark recently,
Constantine. “Last year, more than 2,300 families
the Delaware Small Business Chamber (DSBC)
Donations from the event benefit Easter Seals and
were able to stay at the Ronald McDonald House of presented two awards to Goodwill. For the second
the Hockey for Haxton Scholarship fund for outDelaware while their child received medical treatment year in a row, Goodwill of Delaware and Delaware
standing hockey players. For more information, visit:
at a nearby hospital.”
County was named the Small Business Chamber’s
Non-Profit of the Year. The DSBC also recognized
media insider
WDEL move to FM deserved more attention and praise
tion online and on the air. that has the size and quality of its big city counterparts.
he move by WDEL to the FM spectrum
may have been the biggest media story to
date in Delaware.
Delmarva realized that the news media would not
be trumpeting its FM presence and made perhaps the
biggest billboard deal in recent memory to get the
word out as shown by the trio of messages it posted
in a photo on its Facebook page.
But unless you listened to a Delmarva Broadcasting
station or stopped by this website and the Bulletin
electronic business journal you may not have known
about the acquisition of the frequency of KISS.
KISS was an R&B station whose 101.7 frequency
is now used by WDEL. The station had a sizable audience in Wilmington and adjacent areas.
Most in media stayed with the ancient practice of
not mentioning the competition.
That’s too bad. Delmarva’s investment in its flagship news and talk station was a compelling story in
an industry undergoing the same turmoil as its print
Delmarva was at a crossroads as overall AM radio
listenership has declined over the years.
Comings and goings in communications
Rana Fayez, who had been digital editor of the
Delaware Business Times, is now communications
manager for the Delaware State Chamber of Commerce. She takes over for Matt Amis, who is taking
That was due to the need for directional signals that a communications management position at the Rowould not interfere with other stations in a crowded del Foundation, the organization that has been a key
player in public school improvement efforts in Delaregion.
WDEL, despite a strong signal that ran through
much of the state, often did not reach faster growing
areas in Delaware.
Delmarva and WDEL did not have to make the
news and tealk. move. In fact, it might have made
more money sprucing up the KISS format.
Also, Ellen Roberts, a longtime communications
professional, is now Director of Corporate Communications at Sallie Mae.
Instead it we will continue to have a news-based op- kudos (business honors)
Biotech group honors Sen. Coons; Navient wins education award
The Biotechnology Industry
Organization (BIO) named U.S.
Senator Chris Coons (D-Del.)
2015’s Legislator of the Year.
BIO is the world’s largest trade
association representing biotechnology companies, academic institutions, state biotechnology
centers and related organizations Coons
across the United States and in
more than 30 other nations.
“It’s an honor to be recognized by Delaware’s delegation of Biotechnology Industry Organization,”
said Sen. Coons. “It’s especially rewarding to be honored for the work we have done on the STRONG
Patents Act of 2015. This act will help protect innovators in Delaware and across the nation whose
ideas create new jobs, new companies, and even new
industries. We must continue to work hard work to
strengthen and reform America’s patent system to stop
abusive conduct and help job-creating inventors.”
Navient wins education award
Navient, the Wilmington-based loan manageCoons received the award in recognition of his
ment, servicing and asset recovery company, was
“long professional track record protecting the rights
honored with the Innovation in Financial Education
of patent owners,” said BIO President and CEO Jim Award presented by Nasdaq and EverFi. The award
Greenwood, citing both the Senator’s history in the
recognizes significant efforts to improve the financial
private sector and his work as a Senator from Delacapability of young Americans. Twenty-five financial
ware. “We thank Senator Coons for introducing
institutions were honored with this distinction at a
the STRONG Patents Act of 2015, important legisla- ceremony hosted yesterday at Nasdaq’s Marketsite
tion that targets the abusive practices of patent trolls headquarters in New York City.
through carefully calibrated measures that maintain
the overall strength of the U.S. patent system.”
Honorees were selected based on a set of criteria
that included the scale and reach of their financial
education initiatives, the duration of their commitment, and unique employee volunteering activities
that supplement their programs.
“The institutions we’re recognizing here have led
exceptional efforts to rethink how financial education
is taught in our nation’s schools,” said EverFi founder
and CEO Tom Davidson. “Our global competitiveness is dependent on the next generation understanding how the economy works and how to achieve financial security in their lives. We are grateful to the
organizations that are helping pave a brighter future
for students today.”
As young adults are faced with increasingly complex
financial decisions, Navient says it is committed to
providing those whose loans the company manages
with the skills and knowledge needed in order to succeed. Navient has partnered with education technology company EverFi to launch the Navient Path to
Success program that offers online financial education
to customers.
marketing communications
House Industries creates sculpture for Henry Ford museum
he Henry Ford commissioned House
Industries, Hockessin, to develop a threedimensional sculpture for their annual Past
Forward Award.
Presented each year at the Detroit Autorama,
Past Forward is awarded to the builder who most
creatively combines tradition with inventiveness while
exhibiting a highly skilled technique and maintaining
the whimsical “run what you brung” attitude that
defines hot rodding culture. Held every year since
Carlos Alejandro photo
1953, Autorama is one of the longest running indoor
automotive shows in the world.
of sketches with the goal of creating a balanced
lettering lockup that could then be fabricated in three
“The nameplate has always been the common
dimensions. Sheet metal workers then cut out the
thread that connects the past, present and future of
lettering shape, hand formed the deep dimension and
automotive design.” said House Industries co-founder silver soldered the final assembly. At approximately 16
Andy Cruz. “We thought a dimensional chunk
inches wide, five inches tall and four inches deep, the
of polished steel lettering that mirrors custom car
award is compact enough to hoist over a victor’s head
culture’s style, eccentricity and craftsmanship would
but features enough dimensional presence to earn
fit the bill.”
permanent visibility in a garage or trophy case.
House Industries started the project with a series
“House Industries has a unique understanding of
illustrated letterforms and has been a longstanding
ambassador of automotive culture,” Marc Greuther,
chief curator and senior director of historical
resources at The Henry Ford. “We couldn’t think of
better hands than those of House Industries’ artists to
bring the Past Forward Award to life.”
House has focused on car culture in areas of its font
design work.
Ab+c aids Chicago hospital’s recruiting
Ab+c Creative Intelligence, a full-service marketing
communications agency, has partnered with Rush
University Medical Center (Chicago) on its physician
recruitment efforts.
The agency’s assignments include constructing a
physician recruitment website and providing direct
marketing strategy.
Rush boasts a 664-bed academic medical center, a
medical staff of more than 800.
Wealth officers named
Click here for online gallery.
Elzey joins Community
The Delaware Community Foundation welcomed Rebecca C. Elzey as the new development director for central Delaware.
Before joining the DCF, Elzey
worked as the development specialist for the American Red Cross of the Delmarva Peninsula, where she
managed major gifts, drafted successful grant proposals, and coordinated a fund-raising team.
Wilmington Trust officially
opened its new Wealth Advisory office in Cherry Hill, NJ. The Wealth
Advisory team for Southern New
Jersey is led by managing director
Jerry Mauro, and includes Ron
Caputo and Blair Talty as senior Caputo
fiduciary advisors.
Mauro manages a group of specialists in the Greater Philadelphia
region with expertise in planning,
fiduciary services, investments, private banking, and estate settlement.
She previously worked in various development posiMauro and his team work closely
tions for the American Civil Liberties Union of Delawith clients and their advisors to
ware, Tri-State Bird Rescue & Research, Connections
develop financial strategies to help Mauro
Community Support Programs, and the Produce for
clients meet their current needs and
Better Health Foundation.
plan for their long-term objectives.
Elzey graduated from Wilmington University with
a degree in behavioral science. She has been a member of the Brandywine Chapter of the Association of
Fundraising Professionals since 2006 and is a current
board member.
Mauro earned a bachelor’s degree
in business administration from the
University of Richmond. He is a
member of the Philadelphia Estate
Planning Council and the Union
League of Philadelphia.
Caputo is a senior fiduciary advisor. Caputo is responsible for pro- Talty
viding wealth management advice
to high-net-worth individuals and
families, entrepreneurs, business owners, and foundations and endowments throughout Southern New
Jersey. Caputo manages a range of services based on
clients’ unique needs, including investment management, planning, trust administration, and family governance.
Prior to Wilmington Trust, Caputo was a senior
trust advisor with PNC Bank for 22 years. Previously,
he was a trust officer with Burlington County Trust
Company for 14 years.
He has 19 years of experience in the financial servicCaputo received a bachelor’s degree in economics
es industry, specializing in business and health insurand business administration from Bethany College in
ance consulting for middle market companies. Prior
to joining Wilmington Trust in 2001, he spent 20
Continued on next page
years as a senior executive at a Fortune 100 company.
From previous page
West Virginia, and holds a Certification in Trust Financial Services from Cannon Trust School.
Talty provides wealth management advice in
Southern New Jersey to high-net-worth individuals,
families, business owners, and professionals, as well as
foundations and endowments. His areas of proficiency include estate and retirement planning, insurance
planning, investment planning, education planning,
business succession planning, legacy planning, and
philanthropic planning.
son Dietterick to the position of
head chef at Bluecoast Seafood
Grill in Bethany Beach, one of the
hospitality’s group’s eight restaurants in coastal Delaware.
Dietterick started with SoDel
Concepts in 2004 and helped
founder Matt Haley open three
award-winning restaurants before Dietterick
leaving to head up the kitchens in
several other popular Delaware restaurants statewide.
Dietterick started his culinary career at the Back
Before joining Wilmington Trust, Talty was a senior
wealth planner with PNC Bank. Earlier, he practiced Burner in Hockessin, and he worked for restaurant
law in the trusts and estates practice groups at Brown guru Stephen Starr in Philadelphia. He joined SoDel
Concepts after studying at the Culinary Institute of
& Connery, and at Morgan Lewis.
America in Napa, California.
Talty holds a juris doctor from Rutgers School of
He’s been the chef-de-cuisine at Liquid Assets in
Law, and earned a bachelor’s degree in criminal justice
Ocean City, MD, and at Solstice Restaurant at the
from Rutgers University. He is admitted to practice
Atlantic Hotel in Berlin, MD.
law in New Jersey and Pennsylvania.
Dietterick head chief at Bluecoast
Scott Kammerer, president and CEO of SoDel
Concepts, recently announced the promotion of Ja-
He has also worked at Nage in Rehoboth Beach,
which prides itself on pushing the culinary envelope,
and at the Stone Balloon Wine House in Newark.
My Digital Shield names executive chairman
My Digital Shield (MDS), Wilmington, a provider of Security-asa-Service (SECaaS) for small businesses, announced Caleb Sima,
executive chairman and co-founder
of Bluebox Security, as a new adSima
visory board member. With more
than 20 years of experience in the
web security industry, Sima will help expand MDS’
expertise within the security space and accelerate its
growth in the IT channel and SMB markets.
Sima currently serves as the executive chairman and
co-founder of Bluebox Security, a mobile data security company. Prior to co-founding Bluebox Security,
Sima held a number of roles in the IT security industry, including CEO of Armorize Technologies, CTO
for HP’s Application Security Center and Security
Engineer for S1 Corporation.
Other board members include the following security
industry veterans: Robert May from Fortinet, Steve
Padgett from Google, and Eddie Schwartz from
White Ops.
WilmFilm coming to the riverfront tomorrow
he 2015 WilmFilm Festival will open
Thursday at Penn Cinema Riverfront
with three screenings sponsored by four
nonprofits, the Jewish Federation of Delaware,
Wilmington Renaissance Corporation, Barrel of
Makers and Preston’s March for Energy. A reception
featuring beverages from Painted Stave Distilling will
precede the screenings.
The festival’s first offering, at 7:15 p.m., will be
“Maker,” a documentary on the Maker Movement,
sponsored by Wilmington Renaissance Corporation.
The film demonstrates many concepts that will
be incorporated into the Creative District being
planned by Wilmington Renaissance. “Maker” delves
into the ecosystem of design and manufacturing
in the Internet era, exploring the ideas, tools, and
personalities that are driving the movement.
Preston’s March for Energy, a nonprofit that
provides adaptive bicycles for children with
disabilities, is sponsoring the 7:25 p.m. showing of
“Wild,” the chronicle of a woman’s solo 1,100-mile
hike along the Pacific Coast Trail as she seeks solace
from the death of her mother, the dissolution of her
marriage and her previous addiction to heroin
The Jewish Federation of Delaware is sponsoring
Sunday, April 24-26, with multiple screenings of 20
films, including six Academy Award winners and a
collection of “Delaware Shorts” curated by Lewes
filmmaker Rob Waters.
a screening of “Zero Motivation,” a zany, dark and
comedic portrait of a unit of female Israeli soldiers at
a remote desert base biding their time as they count
down the minutes until they can return to civilian
life. The show begins at 7:30 p.m.
Tickets to these three films are available through
the sponsors. For “Maker,” go to the Wilmington
Renaissance Corp. website,
Ticketholders for the three films can attend the
opening reception, which starts at 6:30 p.m. Painted
Stave Distilling, the Smyrna-based maker of craft
vodka, gin, corn whiskey and other spirits, will offer
samples during the reception.
WilmFilm 2015, produced by Barry’s Events, and
presented by the News Journal Media Group and, will continue Friday through
Oscar winners booked for the festival are:
“Birdman,” best picture, best director, best
cinematography and best original screenplay;
“Whiplash,” best supporting actor, best editing
and best sound mixing; “Still Alice,” best actress;
“Boyhood,” best supporting actress; “Citizenfour,”
best documentary; and “Ida,” best foreign language
Other films scheduled include: “Deli Man,”
“Foxcatcher,” “Wild,” “Dear White People,” “The
Trip to Italy,” “Two Days, One Night,” “Jodorowsky’s
Dune,” “Love Is Strange,” “Mr. Turner,” “Only
Lovers Left Alive,” “Keep On Keepin’ On,” “The One
I Love,” “Life Itself,” “Obvious Child” and “Zero
You may purchase tickets for individual films online
at or at the theater on the day of the
showing. Admission to most films is $10.
For more information and a schedule of screenings,
business licenses
Editor’s note: Business licenses are
issued in Delaware as a revenue raising
BEAR, DE 19701-4128
Professional services
BEAR, DE 19701-1614
WILMINGTON, DE 19803-1613
REHOBOTH BCH, DE 19971-1300
DOVER, DE 19901-4948
NEWARK, DE 19702-8321
DAGSBORO, DE 19939-3372
NEWARK, DE 19711-7507
MILFORD, DE 19963-1304
WILMINGTON, DE 19805-5111
WILMINGTON, DE 19805-5323
WILMINGTON, DE 19808-5022
COLUMBUS, OH 43085-2372
NEW CASTLE, DE 19720-2090
SEAFORD, DE 19973-2000
WILMINGTON, DE 19804-1112
MIDDLETOWN, DE 19709-9793
MIDDLETOWN, DE 19709-8733
EAST YORK, PA 17402-2127
SEAFORD, DE 19973-5030
WILMINGTON, DE 19801-3097
MILFORD, DE 19963-1304
HOCKESSIN, DE 19707-2071
MIDDLETOWN, DE 19709-1166
806 W 13TH ST APT C
NEW CASTLE, DE 19720-4942
701 E 4TH ST
WILMINGTON, DE 19801-4801
REHOBOTH BCH, DE 19971-2847
Real Estate
ROBESONIA, PA 19551-8902
WILMINGTON, DE 19806-2206
REHOBOTH BCH, DE 19971-2847
900 N BROAD ST # 155
MIDDLETOWN, DE 19709-1068
NEWARK, DE 19702-5524
Motor Vehicle
701 E 4TH ST
WILMINGTON, DE 19801-4801
WILMINGTON, DE 19804-1112
TOWNSEND, DE 19734-2201
Personal Services
EAST YORK, PA 17402-2127
WILMINGTON, DE 19808-4730