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.
November 13, 2014 |
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.
October 30, 2014 |
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.
October 26, 2014 |
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.
October 24, 2014 |
While education funding worries in Philadelphia and across the state have gotten more headlines, Pennsylvania's overall economic performance may have more impact on the coming election. Most Pennsylvanians understand that the long-term future of the state hinges on its ability to produce a well-educated workforce and attract and retain companies that require growing numbers of highly skilled employees. But even as parents protest education funding policies that shortchange their children, leaving them poorly prepared for tomorrow's jobs, they can't help but also worry about today's stagnant wages and wish they had better employment alternatives.
October 19, 2014 |
In 2008, the Atlantic City Marathon celebrated its 50th anniversary. It had been the third-longest continually run marathon in the United States and a fixture on the Jersey Shore race scene. But in 2009, that continuity was threatened when organizers announced they would no longer put on the race. While runners scrambled to find alternative events so that their training wouldn't be wasted, the Milton and Betty Katz JCC in Margate met with the volunteer group that had been putting on the race and asked if there was any way the JCC could help.
September 22, 2014 |
ATLANTIC CITY - In retail, it's a numbers game, so whenever Rachel Lewis heard or read that another casino was closing here, she'd get knots in her stomach. The thought racing through her mind: Fewer casinos means fewer hotels, which equates to fewer tourists at her stores. "Every Shore town under and above Atlantic City relies on tourism," said Lewis, 24, district manager at Making Waves, an upscale women's apparel chain only at the Shore, with four shops within a two-hour drive of Atlantic City - in Stone Harbor, Ocean City, Long Beach Island, and one in Cape May that is open year-round.
August 29, 2014 |
New Jersey's largest utility says the $8.1 billion it is spending over 10 years on transmission projects is powering more than the electrical grid - it's putting a lot of juice into the state's economy. Public Service Electric & Gas Co. released Wednesday a Rutgers University economic report it commissioned that estimates the utility's power-transmission projects are creating an average of 6,000 jobs a year over a decade. The 12-page report by the Edward J. Bloustein School of Planning and Public Policy at Rutgers was released at a rally at an electrical workers' union hall in North Brunswick that seemed aimed at building political and public support for more energy infrastructure projects.
August 27, 2014 |
JOSE DAVID ORTEGA of Camden liked to work with his hands. In July, Ortega and two other men, all three of them day laborers, were razing a defunct Blockbuster in Cherry Hill. A wall collapsed on Ortega, killing him, said his mom, Odily Castro. When she buried her son a week later, she said, the expense was shouldered entirely by the family. That's because Ortega, 40, a father of two, was an undocumented immigrant brought to the U.S. in the '80s by his mother, who was granted political asylum after fleeing the Contras in Nicaragua.