July 4, 2015 |
Gov. Christie has blasted President Obama's economic record and won praise from some in the GOP for vowing to boost annual GDP growth to 4 percent, about double the current rate. The Republican governor, who announced his candidacy for the presidency Tuesday, is widely seen as a gifted political communicator and retail politician. But he may not be the best messenger for GOP economic policy, given New Jersey's lackluster economic performance since he took office in 2010. Although the state economy has shown signs of life in recent months, economists aren't sure the growth can be sustained, and it all may be too late for Christie, anyway.
June 6, 2015 |
Edwin Rothman of Elkins Park, former director of the Pennsylvania Economy League in Philadelphia, died Thursday, May 28, of heart failure at Abington Memorial Hospital. He had been ill for a short time. His family declined to release his age. As director of the Economy League's Eastern Division from 1972 to 1983, and research director before that, Dr. Rothman was an influential civic leader in Philadelphia. He had joined the nonprofit group in 1955 and wrote numerous reports that influenced government policy.
May 19, 2015 |
If America's economic rebound continues, and small public companies keep growing, there's a way to express that in your portfolio. It's a popular exchange-traded fund that tracks the small-cap segment of the stock market: the iShares Russell 2000 Growth Index Fund (symbol: IWO). Wall Street institutions use IWO, as do smaller investors like Kevin Tierney of KJT Investments, who manages about $25 million in client assets. The iShares Russell 2000 Growth Index ETF tracks small-cap growth stocks, and seeks to mimic the performance of the index.
April 30, 2015 |
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.
April 1, 2015 |
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.
February 7, 2015 |
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.
January 31, 2015 |
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.
December 18, 2014 |
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.
December 16, 2014 |
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.
December 14, 2014 |
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.