February 10, 2016
By Jim Lardner and Michael Kink Presidential candidates from Bernie Sanders to Donald Trump have condemned their tax-dodging. Investors have deplored their outlandish fees and poor returns. Showtime has made one of them the arch-villain of its new series Billions . Hedge-fund managers are finally getting the scrutiny they deserve for a range of shadowy practices that cannibalize the real economy and aggravate the problem of extreme and growing economic inequality. In theory, hedge funds are a way for wealthy and sophisticated investors to place high-risk bets in search of above-market returns.
February 5, 2016
GOV. WOLF was in Philadelphia on Thursday to tout his plan to provide an additional $200 million in subsidies to basic education, plus another $60 million in state money for pre-K for all children - a goal he shares with Mayor Kenney. Of course, we all know the problem with using these numbers. There is no guarantee the state Legislature will approve any of this new spending. In fact, the odds are against it. Forget about next year. The Legislature failed to approve the governor's call for an extra $360 million in additional funds for basic education this year.
January 15, 2016 |
The U.S. economy expanded across most of the country in the last six weeks as the job market showed strength that is failing to stoke broad wage pressures, a Federal Reserve survey showed. The central bank's Beige Book economic survey, which is based on reports from late November to early January by regional Fed banks, showed that two of the 12 Fed districts posted "moderate" growth and seven described the expansion as "modest. " Boston contacts were described as "upbeat," while the New York and Kansas City Fed districts reported "essentially flat" economic activity.
January 11, 2016 |
The nation's payrolls increased by 292,000 jobs in December, eight years after the beginning of the 2007 recession that crippled America's economy. The unemployment rate remained at 5 percent for the third month in a row, the U.S. Labor Department reported Friday. Not surprisingly, Labor Secretary Thomas E. Perez, who will be visiting a manufacturing plant in Philadelphia next week, liked the report. "What we see from the data, the job train sped into the new year. We have to make sure every worker has a seat on the train," Perez said in a phone interview.
December 29, 2015 |
A new study of Camden's food landscape identifies plenty of ways in which city leaders, local politicians, and large corporations can use access to food as a way to grow the city's economy. As several large corporations plan to move into Camden, the study recommends that the city find ways to tap into the growing daytime workforce, which could mean opening new restaurants as well as supporting and promoting existing ones. Anchor institutions, such as the city's universities and hospitals, could consider developing nutrition and voucher programs for residents and partnerships with local nonprofits.
October 21, 2015 |
TRENTON - State Senate President Stephen Sweeney on Monday announced a Democratic proposal to ramp up state investment in such things as early-childhood education and transportation to spur economic growth and create opportunities for "everyday New Jerseyans. " The Christie administration "has wasted the last six years on its policy of deinvestment, resulting in rising poverty and lost opportunity," Sweeney (D., Gloucester) said at a Statehouse news conference, where he was joined by other Senate Democrats.
October 1, 2015
ISSUE | U.S. GOVERNMENT Avert a shutdown I came to Congress because I wanted to work to keep our country and economy moving forward. That is why I will not use the threat of a government shutdown to fight political battles. Anything that keeps Americans out of work, threatens to delay benefits for our veterans, and weakens our economy is not a valuable negotiating tool. In 2013, as a Chester County commissioner, I was frustrated that the federal government unnecessarily shut down for 16 days.
September 28, 2015 |
HAMMONTON, N.J. - When Robert and Leyda Torres needed to relocate their country home decor shop, they wanted to move to a charming downtown with a population to support their enterprise. For about a year they had operated out of the Amish Marketplace in Vineland, a nearby Cumberland County town where the Torreses live. But that co-op-type food and retail market was set to close over the summer, so the Torreses found a narrow storefront on Bellevue Avenue here and opened Country Clutter about five months ago. "We really feel supported here by the community and by the town fathers," said Robert "Bobby" Torres, 39. ". . . It's like they really want us to succeed, so there is this unified spirit about the place that we felt as soon as we came over here and looked around for a location.
September 16, 2015 |
Pennsylvania's five nuclear power plants contribute about $2.4 billion to the state's economy, and the industry supports 15,600 direct and indirect jobs, according to a study commissioned by the advocacy group Nuclear Matters. The state's greenhouse gas emissions would be about 52 million tons greater if fossil-fuel plants replaced the carbon-free reactors, according to a report released Monday by The Brattle Group, a global consulting firm. The state report is part of a broader campaign by Nuclear Matters to build support for retaining the nation's atomic plants, which produce about 19 percent of America's electricity.