May 30, 1997 |
MGM Grand Inc.'s proposal to build a $750 million casino in a blighted area along the northern Boardwalk - already delayed by the refusal of some landowners to sell their properties to MGM - has hit another obstacle. MGM's development partner, Forest City Ratner Cos., of Brooklyn, has been notified that it is in default of an agreement that calls for construction of a shopping/recreational complex next to the proposed casino site. The Atlantic City Housing Authority and Urban Redevelopment Agency, owners of the 19 1/2-acre property where MGM and Forest City want to build, issued the default notice Tuesday.
July 18, 2003 |
A Bucks County medical-equipment leasing company said yesterday that a lender had rescinded a notice of default on a bond issue, and that it had hired BDO Seidman L.L.P. as its outside auditor. The moves by DVI Inc. resolved two issues in the company's accounting pickle, but failed to persuade Standard & Poor's Rating Service to take the Jamison-based company off its watch list for possible downgrades. Shares of DVI rose 14 cents, or 3.3 percent, to $4.37 yesterday on the New York Stock Exchange.
February 19, 1986 |
The city has notified developer Ernest A. Edwards Jr. that he may be found in default of a $6.74 million contract for rebuilding 61 rowhouses destroyed in the May 13 MOVE confrontation unless he increases the size of the work crews on the project. City Housing Director Julia O. Robinson confirmed last night that the city on Friday issued a default notice to Edwards after officials determined that work crews at the rebuilding site were insufficient to meet the March 31 completion date set in the contract.
February 24, 1986 |
Ernest A. Edwards Jr., the beleaguered rebuilder of the homes destroyed in the MOVE fire, is making plans to start a weekly newspaper for a primarily black audience in Philadelphia, he said yesterday. Edwards declined to discuss specific details of the proposed Sunday newspaper, saying he would hold a news conference in about three weeks to unveil the project. "It would be the best black newspaper in the country, if it turns out," said Chuck Stone, a Daily News columnist and a friend of Edwards' who has talked with him about the proposed newspaper.
March 26, 1986
A melancholy sequel to the MOVE tragedy of May 13 is the continuing inability of the Goode administration to get replacement homes completed. The original target date of Christmas is long gone. The houses won't be finished by Easter either. Maybe the job will be done by the Fourth of July but, the way things have been going, that's hardly a sure bet. Mayor Goode has responded to the latest delay, however, in what appears to be an appropriate manner. As announced yesterday by his city solicitor, Handsel B. Minyard, a default notice issued by the city is a preliminary step to calling a $6.2 million performance bond if that becomes necessary to assure that construction work, suspended Monday, is resumed promptly and carried on to completion.
July 28, 2014 |
I thought I would weigh in one more time on "zombie" houses, subject of an article I wrote for the July 6 Inquirer's news pages. According to RealtyTrac, the real estate search engine, in the Philadelphia region there are 6,101 of these so-called zombies - houses on which the foreclosure process was begun but never completed, yet they were vacated by the homeowners early on. RealtyTrac defines the region as the city; the four suburban Pennsylvania...
July 17, 2003 |
A Bucks County medical-equipment leasing firm said yesterday that it had been notified it was in default on a bond agreement as a dispute with its outside auditor snowballs. Shares of the company, DVI Inc., of Jamison, fell 47 cents, or 10 percent, to $4.23 yesterday on the New York Stock Exchange. A year ago, the stock was trading above $16. Deloitte & Touche L.L.P. resigned June 2 as auditor for DVI after a clash over whether the accounting firm had finished its review of DVI's latest quarterly financial results.
March 28, 1986 |
Representatives of the Urban Local Development Corp. and the general contractor yesterday signed an amended contract for $8.55 million to complete the rebuilding of the rowhouses destroyed in the May 13 MOVE fire. The board of the ULDC - a subsidiary of the Philadelphia Citywide Development Corp., which actually contracted for the construction - approved the contract, which includes an increase of $1.65 million over the original contract, according to Harry Blackburn, attorney for G&V General Contractors Inc., of Norfolk, Va. The agreement requires approval from G&V's bonding company, Fidelity & Deposit Co. of Maryland, but Blackburn said his client already had received oral assurances that it would be accepted.
April 5, 2013 |
Nicholas Papanier, 57, owner of PrimoHoagies Franchising Inc., was in federal court in Camden two weeks ago, pleading guilty to tax evasion stemming from taxes he owed on hoagie shop operators' cash payments to him for salami, ham, and other deli ingredients. This week, his company was back in Camden's federal courthouse, having filed a lawsuit against one of its shop operators. The suit, filed Tuesday, says Jay Venito of Mount Laurel agreed in January 2011 to run a PrimoHoagie store on Route 38 in Lumberton.