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Philadelphia Media Network CEO Greg Osberg stepped down, although he will continue as an advisor for a while. Although Osberg described it as a move he had planned to make once the ownership change was completed, this New York Times report suggested he may have been pressured out ahead of schedule. The Philly Fed manufacturing index took a rather dramatic downward plunge into negative territory in May. Includes comments by Wharton prof Kevin Werbach. and Enterprise Cloud followers.

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