Chemours Company reported a loss in the fourth quarter and 2023, due to the impact of legal settlements.
Fourth auarter 2023 results
Net Sales of $1.4 billion, up 2% year-over-year
Net Loss attributable to Chemours of $18 million, or a loss of $0.12 per diluted share
Adjusted Net Income, which primarily excludes $62 million ($89 million pre-tax) in litigation settlement charges, was...
The Chemours Company announced the Audit Committee of the Board of Directors has completed its internal review that led to the replacement of its CEO and two other executives.
Chemours is based in Wilmington and has a research center in Newark.
The final report reflected preliminary findings that were released earlier.
The internal review determined that payments of up to approximately $100...
As the shock began to wear off from the collapse of Baltimore's Francis Scott Key bridge, speculation turned the impact on East Coast ports.
Much of the Port of Baltimore will be closed to ships for an extended period after a cargo ship apparently lost propulsion and crashed into the bridge early Tuesday morning. Sadly, several maintenance workers...
House Democrats released the following after the measure moved out of committee, following strong opposition from the Delaware Healthcare Association, a trade association that represents the state's hospitals.
DOVER – On Wednesday, the House Administration Committee released legislation aimed at managing the alarming rise of healthcare costs by establishing greater oversight of hospitals.
Sponsored by House Speaker Valerie Longhurst, House Bill 350...
i.g. Burton Auto Group acquired of CF Schwartz Toyota in Dover. It comes after the acquisition of a long-time Newark Jeep, Chrysler, Ram dealership.
The dealership is now known as i.g. Burton Toyota of Dover.
Terms were not disclosed. Toyota dealerships are highly prized due to the wide range of vehicles produced by the world's largest automaker and come...
Delaware Auditor of Accounts Lydia E. York issued a special report on the Delaware Unemployment Compensation Fund (DUCF) that found "significant deficiencies in internal accounting controls."
The report summarizes the findings of a months-long inquiry by auditors at the Department of Labor Division of Unemployment Insurance.
These issues contributed to what the office termed as an "unprecedented disclaimer of opinion."
“This report...
Work is underway on a water main project on Route 40 in Bear.
Artesian Water Co. stated that the 10-month-long project is now underway.
The project comes in conjunction with a highway widening project in the same area of Route 40, slated to begin in early 2025.
Artesian’s contractor, Austin & Bednash Construction, Inc., will work Monday through Friday, weather-permitting....
By Jacob Owens
This story was produced by Spotlight Delaware, a community-powered, collaborative, nonprofit newsroom covering the First State. Learn more at spotlightdelaware.org
Why should Delaware care?The proposal to institute a health care cost review board would be a major change in regulation for the state’s hospital system at a time when the cost of care is rising, effectively putting political...
Delmarva Chicken Association (DCA), the Alliance for the Chesapeake Bay, and the Nanticoke Watershed Alliance are partnering with chicken growers in a $2 million cost-share program to accelerate the adoption of chicken farming best management practices in Delaware and elsewhere in Delmarva.
The three-year effort, which began accepting chicken farmers' applications for cost-share support this spring, is backed by a...
Ponzo named to Executive Leadership Council
Sam Ponzo, vice president and general manager of DuPont Industrial Solutions, has been inducted as a member of The Executive Leadership Council (ELC).
The ELC is a global organization, comprised of current and former Black CEOs, board members and other senior executives, that works to open channels of opportunity for the development of Black...
Delaware’s seasonally adjusted unemployment rate in February 2024 dipped to 4%, down from 4.1% in January 2024, the Delaware Department of Labor reported.
Revised figures from the Labor Department also reported that the annual jobless rate fell to 4%.
The report also included annual revisions in employment statistics as payroll data replaced estimates.
Delaware's unemployment rate is now closer to matching...
AAA reported that Delaware gas prices have remained steady during the past week.
While domestic gas demand has been lackluster, rising crude oil futures pushed pump prices higher, AAA reported.
Delaware's pump price is now more than 20 cents lower than the national average. Delaware has one of the nation's lowest gas taxes, but that has not always been reflected...
Aetna Hook & Ladder Company was dispatched to a fire late Sunday night in the Acme store at 100 Grove Lane in Newark, the redeveloped College Square shopping center. An airboat was sent to the scene to clear out smoke inside the building.
The initial call to the New Castle County 911 Center around 10:45 p.m. reported the...
The Delaware law firm of Morris James has leased more than 40,000 square feet in the high-rise building at the Avenue North development near Wilmington.
The Philadelphia Business Journal first reported the transaction. The publication indicated that the law firm is vacating Class A space in downtown Wilmington as the high-rise moves toward full occupancy.
In February, Morris James...
Donna Fecondo, 63, was sentenced to nearly four years in federal prison for tax crimes related to her ownership of a mushroom farm and processing operation about a mile north of the Delaware line.
Fecondo, of Garnet Valley, PA, pleaded guilty in 2022 for failing to remit payroll taxes to the IRS.
Fecondo was the president and sole owner...
The Chemours Company named Denise Dignam, current Interim Chief Executive Officer, to the positions of President, Chief Executive Officer, and a member of the Board of Directors, effective immediately.
She succeeds Mark Newman, who had earlier been placed on leave while an investigation into company finances took place. The probe has led to delays in issuing the fourth quarter and...
Yvonne Deadwyler was appointed President of the New Castle County Chamber of Commerce, effective March 18.
According to a release, the Board of Directors made this decision in consultation with Chamber Chairwoman Pam Scott.
"The Board of Directors is delighted that Yvonne Deadwyler has been selected as the next President of the New Castle County Chamber of Commerce. She brings...
This story was produced by Spotlight Delaware, a community-powered, collaborative, nonprofit newsroom covering the First State. Learn more at spotlightdelaware.org
By José Ignacio Castañeda Perez
The Delaware Hispanic Chamber of Commerce launched last week in Wilmington with over 200 Hispanic businesses already on board.
The chamber will bolster Hispanic businesses in the state by providing business owners and entrepreneurs with Spanish-language resources to grow and...
Legislation has been introduced in the Delaware General Assembly that aims to protect banks and other businesses that provide financial services to marijuana cultivators, distributors, and retailers who operate within Delaware's legal cannabis systems.
According to sponsors, House Bill 355 clarifies that these financial services are legal under Delaware state law and aims to reassure financial service providers...
Luminance will acquire two solar sites from ECA Solar, a renewable energy developer and producer.
The plants, with a combined capacity of more than 10 megawatts, are in Delmarva Power's service territory in Kent and Sussex counties. Luminace is part of Brookfield Renewables, a Canadian company that also manages investments.
The facilities are expected to provide solar energy to...