Leaving Town

Ikon Down-sizes

Name Changes

Stock News


Corrections or additions?

This article was published in U.S. 1 Newspaper on November 24,

1999. All rights reserved.

Management Moves: RCN and PFS

RCN Corporation (RCNC), 105 Carnegie Center,


08540. David C. McCourt, CEO. 609-734-3700; fax, 609-734-7551.


Eileen Gabriel has been named chief information officer of this


company. Formerly vice president of information systems at Toys R

Us, she will be in charge of developing RCN’s Convergent Billing and

Operational Support project (C-BOSS) to support RCN’s bundled service

offerings — local and long distance phone, cable television, and

Internet services.

"One of my key challenges is to build a knowledgeable and

dedicated staff," she says.

Princeton Financial Systems, 600 College Road East,

Suite 2400, Princeton 08540. James C. Russell, CEO. 609-987-2400;

fax, 609-987-9320. Home page: http://www.pfs.com.

James C. Russo, 52, is the new chief executive officer, succeeding

William Mayhall. He retains his post as president. A graduate of Pace,

he had had vice president jobs at Shaw Data Services and Continental

Insurance before joining Princeton Financial in 1992. PFS is an


subsidiary of State Street Corporation and a provider of portfolio

accounting and management systems for institutional investors.

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Leaving Town

i-on Technologies Inc., 3131 Princeton Pike. Jon

Neal, president. 609-620-0095; fax, 609-620-0096. Home page:


After one year on Princeton Pike, this Microsoft solution provider

has moved to 100 Round Hill Drive, Freehold 07728; 732-303-1173.

Information Paradigms Inc., 101 College Road East,

Princeton 08540. William T. Grimm, president. 609-514-1000; fax,


Home page: http://www.infoparadigm.com.

This management consulting and systems development for financial


industry has had a liquidation sale for its office equipment,


to the landlord. Of the 11,000 feet that the firm vacated, First


Services took 7,600 feet on the third floor, and VLSI/Philips


is temporarily in part of the 9,000 square foot space on the first


Tyndale Plains-Hunter, 17K Princess Road,


08648. Murray H. Reich, president. 609-912-1050; fax, 609-912-1055.

Murray Reich has sold the 26-year-old polymer company to CT


a three-year-old division of CardioTech International based in Woburn

Massachusetts (781-933-4772,


The sale was made in July and the four-person company has started

packing. "We will slowly move the company up here," says John

Hudson, director of operations of the acquiring firm, which is traded

as CTE on the American Stock Exchange. It manufactures hydrophobic

biomaterials that do not absorb water. "We purchased TPH because

they make a hydrophylic or water-loving polymer, and we thought the

two companies would be synergistic," says Hudson.

Reich, the president, will remain in Princeton as a consultant (U.S.

1, January 7, 1998). TPH sells polyether polyurethanes to Helene


Thermosilk series. It also sells products to Kendall, a division of

Tyco, for wound care dressings. CT International supplies Chronoflex,

an access port for delivering pharmaceuticals, to CP Bard. It has

22 employees evenly divided between Massachusetts and the United


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Ikon Down-sizes

Jeff Miller, the account manager, Andy Thornton, and two other


of a legal document service moved from Princeton Executive Campus

and were absorbed by Ikon’s Philadelphia office. This branch of the

$5.6 billion company, one of 125 in the document services division,

provides all kinds of legal document services, such as litigation

copy, data storage, and trial exhibits.

Nevertheless, the parent company, Ikon Office Solutions, remains at

Princeton Executive Campus. James Forese is president and CEO of Ikon

Office Solutions, which employs 250 people in Malvern, Pennsylvania,

and 40,000 employees in 1,000 locations worldwide.

Founded in 1965 by Tink (Tinkham) Veale as a specialty manufacturing

company called Alco Standard Corporation, this firm went public the

same year. It moved into various fields — chemicals, healthcare,

and wine and spirits, and by 1997 it had sold off or spun off all

companies but two. Its paper distribution firm, Unisource Worldwide,

was sold to Georgia Pacific. Meanwhile, Alco bought a couple hundred

office machine distribution companies and changed its name to Ikon

Office Solutions, trading on the New York Stock Exchange as IKN. Now

the parent company offers office equipment and facilities management

plus computer networking, and the subsidiary does document services.

"The difference between an Ikon and a Xerox is that Ikon partners

with a lot of different vendors," says a spokesperson, who claims

Ikon is second only to Xerox in sales for office machines and is the

number one distributor of Canon products in the United States. It

is also an authorized vendor for Ricoh, Oce, and Muratec.

Ikon Document Services (IKN), 1760 Market Street,

Suite 800, Philadelphia PA 19103, 215-557-7070; fax, 215-557-8067.

Jim Bocchino, managing partner.

Ikon Office Solutions (IKN), 4301 Route 1 South,

Princeton Executive Campus Suite 125, Monmouth Junction 08852.



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Name Changes

The Regional Planning Partnership, 870 Mapleton

Road, Princeton 08540. Dianne Brake, president. 609-452-1717; fax,

609-452-2321. Http://www.princetonol.com/groups/msm.

Formerly the MSM Regional Council, the non-profit planning and


group made its name change official. The MSM had stood for Middlesex,

Somerset, and Mercer, the three counties on which the organization’s

efforts continue to be focussed.

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Stock News

Trintech (TTPA), 5 Independence Way, Princeton

08540. Kevin McGuire, operating manager. 609-720-9000; fax,


Home page: http://www.trintech.com.

Trintech made history by being the first Ireland-based company to

compete an initial public offering on two stock exchanges on one day,

September 24. It is trading on the Nasdaq as TTPA and on the


in Germany as TTP. The sale of 5.8 million shares at $11.55 raised

$63 million. This Princeton office does software development for


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James Carlton Bennett III, 32, on November 9. He worked

at Covance Inc.

Dina M. Giovannini, 37, on November 17. She was a


analyst with Merrill Lynch in Plainsboro.

Bernadette B. Berrien Marcellious 79, on November 18.

She had been a receptionist at Princeton University Press.

Douglas W. Gunn, 59, on November 18. He had worked at

Princeton Plasma Physics Laboratory.

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