March 29, 2013 |
THE PHILLIES have the fifth-highest value among Major League Baseball franchises, according to Forbes magazine, which estimates their worth at $893 million. Forbes estimated the New York Yankees have the highest value for the 16th straight year at $2.3 billion, up from last year's $1.85 billion. It also reported that the average for an MLB team increased by 23 percent in the last year to $744 million. The Los Angeles Dodgers are second at $1.62 billion, nearly $400 million below the price paid for the team last May when a group headed by Mark Walter, Stan Kasten and Magic Johnson bought the franchise from Frank McCourt.
March 14, 2013 |
Over the last dozen years, Philadelphia has lost so many billionaires - 10 names in all - it no longer has sole bragging rights in Pennsylvania. Judging from Forbes' latest list of the world's wealthiest people, the Pittsburgh and Philly areas are now tied with three residents apiece with 10-figure fortunes. If not for newcomer Michael Rubin , e-commerce whiz and 76ers part-owner, Pittsburgh would have been first - just as it is in Super Bowls (six to zip). Although more than a dozen billionaires either grew up in the Philadelphia area (like newly listed Valley Forge-born designer Tory Burch , investor/philanthropist Ronald Perelman , apparel-and-entertainment tycoon/philanthropist Sidney Kimmel , and ex-Eagles owner Norman Braman )
March 6, 2013 |
THE ANNUAL Forbes magazine billionaire list is out, and this year Philadelphia can boast just one billionaire owner - the Sixers' Joshua Harris. Harris, who lives in New York but graduated from Penn's Wharton School, saw his estimated wealth rise to $2.1 billion, ranking his fortune at No. 243 in the United States, 704 in the world. Harris, cofounder and managing director of investment firm Apollo Global Management, "saw his fortune increase $600 million in the past year as shares of Apollo, which went public in 2011, rose to new highs," according to Forbes . Eagles owner Jeffrey Lurie fell off the list this year, with last summer's divorce the obvious explanation.
March 6, 2013 |
The annual Forbes billionaire list is out, and this year Philadelphia can boast just one billionaire owner - the Sixers' Joshua Harris. Harris, who lives in New York but graduated from Penn's Wharton School, saw his estimated wealth rise to $2.1 billion, ranking his fortune at No. 243 in the United States, 704 in the world. Harris, cofounder and managing director of investment firm Apollo Global Management, "saw his fortune increase $600 million in the past year as shares of Apollo, which went public in 2011, rose to new highs," according to Forbes.
February 6, 2013 |
DON'T BE SURPRISED if Michael Vick sends thank you cards to Lance Armstrong and Manti Te'o. Last year, Vick was tied for No. 1 with Tiger Woods on Forbes' 10 most disliked athletes in America list. This year, Armstrong and Te'o are deadlocked in the top spot. Armstrong has been vilified since admitting he used performance-enhancing substances after years of denying it. Te'o expected sympathy, but got none, after claiming he was the victim of a hoax involving an alleged online girlfriend and her alleged death.
January 24, 2013 |
The New York Knicks have surpassed the Los Angeles Lakers as the most valuable team in the NBA, according to Forbes' annual study. Boosted by renovations to Madison Square Garden, the Knicks' value increased 41 percent to $1.1 billion. The Lakers were second at $1 billion. The report, released Wednesday, estimated the average NBA team's value at $509 million, a 30 percent increase from last year. The Chicago Bulls, Boston Celtics, and Dallas Mavericks round out the top five.
December 27, 2012 |
WHEN SHOPPING for gifts this holiday season, buyers want value. One would think that's what Hollywood producers want also, but they always seem drawn by the big star and the big summer tentpole with the $200 million budget. But with so few stars consistently bankable - even Tom Cruise hasn't lured audiences lately - Forbes magazine has come out with a list of the stars who provide the best value. It isn't very helpful, however, because aside from the woman at the top of list, Natalie Portman , the others are young actors in huge, blockbuster franchises.
December 15, 2012 |
Forbes has compiled a list of "America's 20 Dirtiest Cities" and there's the Philadelphia metropolitan area, ranked No. 3, behind Fresno and Bakersfield, two California areas with fewer than a million residents apiece. But don't think "Philthadelphia," with trash-strewn streets or vacant lots - or foul-mouthed sports fans. Pollution is Forbes' main focus. Air and water quality. As with most such lists, the accuracy can be questioned. Last year, when Philly finished first, the list was dubbed "Most Toxic," prompting the likes of fairwarning.com to suggest, "Americans seeking healthy cities to call home should avoid Philadelphia like a toxic waste dump.
December 11, 2012
Saul P. Steinberg, 73, the former corporate raider and chairman of Reliance Group Holdings, died Friday in his sleep at his home in Manhattan, the New York Times reported. No cause was given. That same day, his mother, Anne, who once sued her son for nonpayment of a $4.7 million debt, died in her sleep in Palm Beach, Fla., according to the Times. Her age and the cause weren't given. Mr. Steinberg once controlled Reliance Group, a New York-based property and casualty insurer. The firm, listing $12.6 billion in assets and $12.9 billion in debts, filed for bankruptcy protection in 2001 after higher-than-expected workers' compensation costs and other claims.
November 29, 2012 |
THE COP WHO pulled over Riley Sheahan probably had a pretty good idea the Detroit Red Wings prospect was hammered before he even thought of pulling out a breathalyzer. Sitting behind the wheel, was Sheahan, wearing a purple Teletubbies costume. You remember that colorful character, don't you? Cute little fella named Tinky Winky. We can only hope that the costume was Halloween-related as the incident happened on Oct. 29. According to a police report obtained by Mlive.com, Sheahan was arrested while driving the wrong way in Grand Rapids, Mich.