Business Briefs: Cross-Border Liquor Run Bill Passes House, Credibly and Jetpay in Partnership, the Exchange Club Benefits Kerr Park, and ISSC Named Best Stock under $5

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The Pennsylvania Liquor Control Board will increase prices on 450 products by the end of the month unless suppliers reduce their prices. Image via the Allentown Morning Call.

Our briefs are concise reports on what’s happening around Chester County. This Morning:

Bill Legalizing Cross-Border Liquor Purchases Passes Pennsylvania House

Pennsylvania House Lawmakers voted last week to decriminalize the act of bringing wine, beer and liquor across the border into Pennsylvania from other states, the only step agreed upon in the liquor law reform.

Representative John Taylor, who sponsored the bill, said that while arrests for cross-border liquor purchases are rare, they still occasionally happen, sometimes by local police departments.

He talked about the case of Chester County attorney Arthur C. Goldman, who was arrested in 2014 and charged with illegally buying rare wines that could not be bought in the Pennsylvania Wine and Spirits Stores in New Jersey, and then selling them on to a close network of connoisseurs in Pennsylvania.

“You have a law on the books that can technically be very damaging to someone,” said Taylor. “Every blue moon they decide to make an example out of someone and put it in the paper.”

2433759_JetPay_Generic_LargeStrategic Partnership Announced by Credibly and Jetpay

Berwyn based JetPay Payment Services a division of JetPay Corporation, a leading provider of debit and credit card processing services recently entered into partnership with Credibly a tech and data-inspired lending platform, that makes access to capital for small businesses simple and intuitive.

This partnership will provide JetPay’s distribution network with streamlined access to Credibly’s lending platform, ensuring that they can provide more capital for their small business clients across the country.

“JetPay’s objective is to get our customers the payment processing and capital solutions they need while connecting them with partners who can deliver those solutions efficiently,” said Paul Compton, Executive Vice President and National Sales Director for JetPay Payment Services. “The integration of JetPay’s distribution network and Credibly’s customer-centric lending process will enable even more small businesses to obtain the capital they need to thrive.”

The Exchange Club of West Chester delivers $1,500 dollars to the Downingtown-Thorndale Chamber of Commerce.
The Exchange Club of West Chester delivers $1,500 dollars to the Downingtown-Thorndale Chamber of Commerce.

The Exchange Club Makes a Donation to Help the American Flag Project

Kerr Park is one step closer to being able to proudly display an American flag again, thanks to the Exchange Club of West Chester which has donated $1,500 to the Downingtown organization toward the purchase of an American flag to be displayed in Kerr Park.

The Club presented the check at the recently held meeting of the Downingtown-Thorndale Regional Chamber of Commerce. The check went towards the Chamber’s “Help Raise the Flag” fund, proceeds of which are used to purchase new American flags and for the maintenance cost of the flag pole.

With the latest donation, over $12,000 has been raised, allowing the chamber to purchase the new flag and paint the flagpole.

“We are proud to say that the community has stepped up to support our flag fundraising campaign,” said Steve Plaugher, Executive Director of the Downingtown-Thorndale Regional Chamber of Commerce.

ISSC One of the Best Stocks Under $5

While Wall Street showed significant volatility last week, many stocks under $5 seemed immune to the general market turmoil.

In fact, on the list of the top five sub-$5 stocks compiled by InvestorPlace, is Innovative Solutions & Support Inc, the Exton based company that designs, builds and sells flight guidance and display systems for airplane cockpits.

The company reported its Q4 earnings last Wednesday together with results for the full fiscal year. While the results were not great, as ISCC still lost 8 cents per share for the period, there was significant improvement over the same quarter last year when the company lost 12 cents a share.

After the loss of the contract with Delta Airlines last year, Chairman and CEO, Geoffrey Hedrick, commented that this year, the company has begun to recover with increasing sales and success in filling backlogged orders.

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