June 30, 2016 |
S&P Global Ratings downgraded Ursinus College's credit rating by one notch, to 'BBB+' from 'A-', citing the Collegeville institution's plans to take on $23 million in additional debt this fall to build a facility for interdisciplinary academic programs. Ursinus had $42.5 million in debt at the end of fiscal 2015. The additional debt means that the college will no longer meet S&P's criteria for the higher rating, S&P said. The New York ratings agency also mentioned "weakened demand" and "continual enrollment uncertainty" in its downgrade, though it said the outlook was stable.
May 8, 2016
A federal judge in Trenton on Friday sentenced a 34-year-old Philadelphia woman to 40 months in federal prison for her role in a massive credit-card fraud scheme, prosecutor said. Vernina Adams, 34, pleaded guilty before U.S. District Judge Anne E. Thompson to one count of conspiracy to commit bank fraud. She was charged in 2013, and since then 18 others have pleaded guilty in connection with the conspiracy to fabricate more than 7,000 false identities and obtain tens of thousands of credit cards.
May 4, 2016 |
Anyone brazen enough to rob a police credit union branch should know his image will soon be in the hands of scores of law enforcement officials. And that's exactly what's happened after a heist Saturday afternoon at the Police and Fire Federal Credit Union at 7145 Frankford Ave. in Philadelphia's Mayfair section. The FBI is asking for help finding the man, who handed over a demand note and robbed the branch on Saturday. Surveillance images distributed Monday showed the 35- to 40-year-old white male suspect wearing a blue hat, green shirt and khaki pants.
May 4, 2016
ISSUE | FILM TAX CREDIT Pa. break pays off The Commonwealth Foundation's Nathan Benefield was wrong to call for the end of the Pennsylvania film tax credit ("Time to end Pa.'s corporate-welfare handouts," April 26). He claimed that the returns on economic development programs don't justify the expense, and he cited industry studies that counted only direct tax payments to states from productions. In fact, an array of state and local taxes are paid by cast and crew, hospitality and municipal workers, and businesses that invest in and serve the film industry.
May 4, 2016 |
Former Philadelphia Police Commissioner Charles H. Ramsey believed police recruits should have at least two years of college under their belts before their boots hit the streets. "I think we do a disservice to young people by having them go through school thinking that they can get good-paying jobs without at least looking at some level of college work," Ramsey said last year, defending his policy of requiring recruits to have earned 60 college credit hours or served two years in the military.
April 28, 2016 |
A South Jersey police officer is being credited with preventing two people from committing suicide when he stopped to check out a suspicious vehicle during a routine patrol. Bellmawr police said Patrolman Jared Walton spotted the vehicle in an unusual location in a business parking lot about 1:45 a.m. Monday. The officer saw two people inside the vehicle, which had the motor running, windows up, and a hose attached to the exhaust pipe, with the other end running into the vehicle.
April 20, 2016 |
Atlantic City Electric announced Monday that its customers will receive a $113.16 credit on their bills in the next month, a one-time bonus for the completion of the merger between Exelon Corp. and Pepco Holdings Inc., the parent company of Atlantic City Electric. The credit will be automatically applied to each household with an active account. It is part of a $430 million package of benefits Exelon is paying to customers and communities of Pepco's utilities in New Jersey, Delaware, Maryland and the District of Columbia.
April 8, 2016 |
ONE OF THE first requests I received as mayor of Philadelphia came as a bit of a surprise: Help empower Philadelphia residents to benefit from the more than $100 million in federal earned income tax credit (EITC) they have earned, yet stands to go unclaimed this tax season. I realize that every year, because of the lack of filing or incomplete filing, some Americans miss out on tax refunds or credits they might deserve. But the fact that Philadelphia residents alone could account for over $100 million of unclaimed EITC funds stood out to me as a huge issue that needs fixing . . . and one that can be corrected quickly!
April 7, 2016 |
Update 1:45 p.m.: The Federal Bureau of Investigation has opened a case looking into the failure of six local credit unions in Bensalem – all of which were headed by the same chief executive, a woman by the name of Joni Brown, according to law enforcement sources. Local FBI officials wouldn't confirm or deny the existence of an investigation, and whether the offices had been shut down. Ms. Brown couldn't be reached for comment at the main number for all six credit unions.
March 24, 2016 |
Moody's Investors Service upgraded the University of Pennsylvania's credit rating by one notch to its second highest level. The New York ratings agency, in a report published Monday, cited the West Philadelphia institution's growing wealth relative to peers, expected successful integration of Lancaster General Hospital into its health system, and limited borrowing plans. The new rating is Aa1, up from Aa2. Penn, which employed 37,149 in Philadelphia last fall, making it the city's largest private employer by far, has had steady gains in operating margins and what Moody's called "superior donor support with $322 million in gift revenue" in the year ended June 30. Among Penn's other strengths is net tuition per student of $37,465, a measure of cash paid after financial aid. That ranked close to the top of all U.S. universities, Moody's said, and was driven by professional programs in business, medicine, law, nursing, and education.