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NEWS
February 7, 2011 | By Jane M. Von Bergen, Inquirer Staff Writer
Editor's note: As the economy struggles to find new footing, this occasional series will focus on areas of emerging demand for workers and the forces behind it. By the time developer Michael Pestronk closed on the deal to buy the old Goldtex textiles factory near 12th and Callowhill Streets, vandals had stripped out all the copper pipes and plenty of Philadelphia's graffiti "artists" had signed their names on the walls. With buckled floors, pigeon poop, and missing windows, it was a mess.
NEWS
October 22, 2003 | By Peter A. Brown
I have a close friend, who along with many Democratic dreamers, predicts the economy will sink President Bush's reelection. I disagree, so I offered to make up the difference if his stock account doesn't rise 3 percent in the next six months (triple what banks and bonds are paying), but I would get any return over that amount. He declined. He may be misguided, but he's no idiot. He understands that the economy may not be great, but it is OK and surely getting better - which bodes well for Bush's political future.
NEWS
August 7, 2001
What surplus?
NEWS
March 15, 2008
WE OWE more on our homes than we have equity. We're paying ridiculously high gas prices, along with other higher prices because of these gas prices, yet we are not bringing in any more money. Five states have suspended educational loans, because the money simply isn't there. Health programs are being cut, along with programs in the arts, and others. Forty-three cents of every tax dollar is being spent on the military, with only 20 cents to health care and 12 in response to poverty.
BUSINESS
October 5, 2011 | By Martin Crutsinger, Associated Press
WASHINGTON - Federal Reserve Chairman Ben S. Bernanke said Tuesday that the nation's economy "is close to faltering" and that the central bank was prepared to take further steps to support the recovery. In a day of volatile swings, stocks came off their morning lows after Bernanke implied that the Fed could adopt additional stimulus measures in the coming months. In the early afternoon, share prices trended down again on continuing fears about the economy and Europe's debt problems - but they surged into positive territory in the last 45 minutes of trading on reports that European officials were working on a joint effort to prop up the region's struggling banks.
BUSINESS
June 8, 2011 | By Martin Crutsinger, Associated Press
President Obama and Federal Reserve Chairman Ben S. Bernanke on Tuesday each offered hope for the nation's economy even as they acknowledged its struggles. While Bernanke called the recovery from the recession - especially for the job market - "frustratingly slow," he predicted that the economy would expand later this year. He blamed the recent weakness on high gasoline prices and the effect of the March 11 earthquake in Japan, which has slowed production of cars and other products using parts made in Japan.
NEWS
January 12, 2001 | by Bob Warner, Daily News Staff Writer
While the national economy is slowing down, it still seems to be growing, not shrinking. And growth is likely to pick up in the second half of 2001, according to the president of the Federal Reserve Bank of Philadelphia. "Clearly, the economy has slowed down," Dr. Anthony M. Santomero told reporters yesterday. But, he added, "the data I have seen does not suggest we are in a slowdown with a zero growth rate. . .We're seeing softening the first half of the year. I think we'll see growth in the second half.
BUSINESS
March 25, 1992 | Daily News Staff Report
The Philadelphia economy picked up steam in the fourth quarter last year, according to a study by Grant Thornton, an accounting and management consulting firm. The quarterly Grant Thornton Index of economic indicators rose 1.40 points to 109.5 in the fourth quarter, ended Dec. 31, from 108.1 in the third quarter, ended Sept. 30. The firm said it is the first time in two years that the index for Philadelphia has increased. Growth in non-farm payrolls, construction permits, and factory hours all contributed to the increase, the firm said.
NEWS
January 29, 1988 | By REGINALD STUART, Daily News Staff Writer
Rep. William H. Gray III, D-Pa., chairman of the House Budget Committee, said yesterday that Democrats have a chance to win the White House in November, particularly if the economy goes sour before then. "If the economy is doing very well and foreign policy is doing well, the Republicans will have a leg up," said Gray, who plans to announce his endorsement of a candidate next month. He warned that the economy's "fundamentals," such as the trade deficit, the sagging value of the dollar and a downward trend in consumer spending," are so out of sync" that the chances of a recession are "50-50.
NEWS
September 7, 2008
The hoopla of national political conventions has subsided, and Congress returns to work tomorrow with a weak economy demanding lawmakers' attention. With unemployment and inflation rising, the danger is that Congress instead will get sidetracked by election-year political stunts. Former Republican House Speaker Newt Gingrich, who led a counterproductive government shutdown in the mid-1990s, is at it again. Backed by a well-funded advocacy group that he founded, Gingrich is agitating for another shutdown of the federal government, this time over oil drilling - the subject of his new book.
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NEWS
April 30, 2015 | By Andrew Seidman and Maddie Hanna, Inquirer Trenton Bureau
TRENTON - New Jersey's top elected Democrat on Tuesday accused Gov. Christie of ignoring the state's slow economic recovery, suggesting the governor's presidential ambitions were impeding progress at home. "He needs to be back here with a plan on what we're going to do to fix this place, 'cause you can't fix it when you're not here," Senate President Stephen Sweeney (D., Gloucester) said at a Statehouse news conference late in the day. "You don't fix anything when you can't look anybody in the eye. I get his ambitions, but he's the governor of the state of New Jersey, and enough of the blaming.
NEWS
April 1, 2015 | By Andrew Seidman, Inquirer Trenton Bureau
TRENTON - After once scorning the Legislature's top budget analyst as the "Dr. Kevorkian of the numbers," Gov. Christie is now projecting revenue growth that closely tracks with the nonpartisan aide's estimates. Budget analyst David Rosen's projections of New Jersey's growth have proved more accurate than Christie's, and Wall Street ratings agencies say the Republican governor's overly optimistic numbers have increased pressure on the budget and weakened New Jersey's credit. On Monday, Rosen told lawmakers that Christie's projections for fiscal year 2015 and the next one, which begins July 1, were in line with Office of Legislative Services figures - more so than any other administration's in 21 years.
BUSINESS
February 7, 2015 | By Andrew Maykuth, Inquirer Staff Writer
The $3 billion Mariner East project linking the Marcellus Shale region to the Philadelphia area is expected to generate widespread economic benefits, according to a study released Thursday by the pipeline's builders. The study, by Econsult Solutions Inc., says the project will generate a one-time economic impact of $4.2 billion to Pennsylvania's economy, support more than 30,000 jobs during the two-year construction period, and create about 300 to 400 permanent jobs. Econsult said a "majority" of the economic impact would be in Southeastern Pennsylvania, where the project's builder, Sunoco Logistics Partners L.P., is developing the former Marcus Hook refinery in Delaware County to receive, store, and process the liquid fuels that will be delivered through the cross-state pipeline.
NEWS
January 31, 2015 | By Jonathan Tamari, Inquirer Washington Bureau
A defiant President Obama came to Philadelphia on Thursday to urge Democrats to keep aggressively promoting their beliefs, despite an Election Day drubbing. Embodying that combative outlook, Obama added a swipe at Republicans and Mitt Romney for, in his view, trying to imitate Democrats' concern for the average American. "Even though their policies haven't quite caught up yet, their rhetoric is starting to sound pretty Democratic," Obama said in a speech to House Democrats meeting at the Society Hill Sheraton.
NEWS
December 18, 2014 | By Amy Worden, Inquirer Harrisburg Bureau
HARRISBURG - Three days after the newly elected Senate majority leader opened the door to negotiations on a natural gas drilling tax, industry leaders reiterated their stand that such a tax would harm the state's economy. Additional taxes would have a "crippling effect on jobs" said Stephanie Wissman, executive director of the Associated Petroleum Industries of Pennsylvania. "It threatens to stifle energy production and the jobs that go with it," Wissman said in a conference call with reporters Tuesday.
BUSINESS
December 16, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Stock market corrections usually occur in anticipation of recessions, says one local money manager and investment strategist. We're not there yet, but the present U.S. economy is entering middle age. America's economic expansions "last longer than in the past, now stretching out five to eight years," said Glenmede's president and chief investment officer, Gordon Fowler. "The unemployment rate has dropped, but it's not at a level where you begin to worry. What that tells us is the U.S. economy is still growing, earnings can continue to grow, and hence the stock market can grow," Fowler added.
NEWS
December 14, 2014 | By Kristin E. Holmes, Inquirer Staff Writer
The wooden animals, sanded and painted to resemble the 109-year-old originals they replaced, are waiting for visitors at the end of a restored railroad line in Pottstown. The horses, giraffes, and reindeer on the Derek Scott Saylor Memorial Carousel are part of a merry-go-round meant to be more than an amusement. The attraction - and the similarly restored old train that will drop visitors at its doorstep - are the centerpieces of a downtown revitalization effort for a slumping Montgomery County borough taking steps toward a comeback.
NEWS
November 13, 2014 | By Allison Steele, Inquirer Staff Writer
Newly elected U.S. Rep. Donald Norcross plans to make jobs and the economy his priority, he said Wednesday, including working to extend long-term unemployment benefits. House Republicans did not vote on an extension of benefits this year, but in a call with reporters, Norcross said the measure was essential for residents of New Jersey and other states. "There are many, many people who need that lifeline," he said. Norcross, a Camden County Democrat, last week defeated Republican former Eagles player Garry Cobb for the First Congressional District seat with 57 percent of the vote.
NEWS
October 30, 2014 | By Suzette Parmley, Inquirer Staff Writer
The collapse of New Jersey's hospitality industry, driven by the closure this year of four casinos in Atlantic City, is one reason the state's economy is not faring as well as the nation's, an economist said Tuesday at a business forum. "It's really a tale of two economies - the national economy vs. the state economy," said Joel Naroff of Naroff Economic Advisors Inc. in Bucks County. "If I had to give the state economy a grade, maybe I'd give it a 60 out of 100. It's not doing too well.
NEWS
October 26, 2014 | By Andrew Seidman, Inquirer Trenton Bureau
TRENTON - New Jersey's candidates for a U.S. Senate seat held their only debate Friday, sparring over issues ranging from the Ebola outbreak to the prospect of a casino in North Jersey. U.S. Sen. Cory A. Booker, a Democrat seeking a full six-year term in the Nov. 4 election, sought to portray Republican Jeff Bell as a tea-party extremist who would block progress in Washington. Bell, a former campaign aide to President Ronald Reagan who was the GOP nominee for Senate in 1978, said Booker would work to advance what he described as President Obama's failed economic policies.
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