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NEWS
September 19, 2014 | BY MORGAN ZALOT and DANA DiFILIPPO, Daily News Staff Writerszalotm@phillynews.com, 215-854-5928
HER LIFE WAS short, but little Nicoletta Rose had an impact on many. An outpouring of support continued Thursday for the baby girl who died Monday after being delivered by emergency C-section after her mother was struck by a stray bullet that later killed her. As of Thursday night, an online donation fund set up by a family friend had raised nearly $6,000 - surpassing its initial $2,000 goal - to help cover funeral expenses for Nicoletta and...
BUSINESS
September 19, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
An investigation into an unsuccessful investment by the Pennsylvania State Employees' Retirement System (SERS) has "found no evidence of illegality" by Anthony Clark, the system's former chief investment officer, who persuaded the system to pump $250 million into Tiger Management Advisors as the first step in a planned hedge fund strategy. "Whether Clark intentionally misled the board by seeking to conceal Tiger's poor performance is open to question," the investigator, former acting state attorney general Walter Cohen, added in his two-page note to the board summarizing his findings.
NEWS
September 18, 2014 | By Joe Dolinsky, Inquirer Staff Writer
Standing before about 500 3- and 4-year-olds at Franklin Square, the head of Philadelphia's school district made his case for more money for prekindergarten education. "What we know is that if kids have access to high-quality pre-K, then they're already off to a beautiful start," Superintendent William R. Hite Jr. told the children and more than 200 advocates and providers who packed the square. "Quite frankly, it's the difference between reading at a third-grade level and not. That's a big indicator for us for future success of a child.
NEWS
September 18, 2014 | By Andrew Seidman, Inquirer Trenton Bureau
TRENTON - The director of the agency that manages New Jersey's $80 billion pension fund confirmed Tuesday that the state had sold its stake in a fund managed by a venture-capital firm with ties to a prominent Massachusetts Republican, months after the investment drew scrutiny over pay-to-play concerns. The state earlier this month sold its interest, valued at $12.7 million, in General Catalyst Group VI for $14.1 million in cash to Washington University in St. Louis, the Treasury Department said.
NEWS
September 17, 2014 | By Andrew Seidman, Inquirer Trenton Bureau
TRENTON - The state Treasury Department has sold its stake in a venture-capital fund tied to a Massachusetts gubernatorial candidate who contributed to the New Jersey Republican State Committee, Fortune reported on Monday. The State Investment Council's $15 million investment in a fund managed by General Catalyst Partners is the subject of an audit commissioned by the Treasury Department in May. Prompted by a report by the website PandoDaily, the department's chief auditor was asked to determine whether the investment had violated New Jersey's pay-to-play laws, which prohibit the department from investing in a fund whose investment managers have donated to state political parties or committees in the preceding two years.
BUSINESS
September 16, 2014 | By Erin E. Arvedlund, Inquirer Columnist
If you are unhappy with fees charged by active money managers, stop paying them. Low-cost index funds track the stock market, say Mitch Tuchman and Charley Ellis at ReBalance IRA. "There hasn't been a five-year period in over six decades when a 50-50 stock-and-bond portfolio has not shown a positive return," said Tuchman, of Palo Alto, Calif. "If you own markets through indexing, your portfolio always recovers in a correction. There is a way to really win at this game - by playing not to lose.
NEWS
September 15, 2014 | By Thomas Fitzgerald, Inquirer Politics Writer
Gov. Corbett took Pennsylvania voters to school last week in "Statistics Class," a 30-second TV spot, complete with bar graphs, that asserts he has increased state education spending to "its highest level ever. " Democratic challenger Tom Wolf "and his special-interest friends," Corbett says into the camera, "have spent millions trying to mislead you that I cut education spending. " Wolf responded with his sharpest attack ad yet, a compendium of news clippings that say Corbett "took an ax" to schools with a $1 billion cut in education dollars that caused 27,000 layoffs and big jumps in local property taxes.
NEWS
September 14, 2014 | By Chris Hepp, Inquirer Staff Writer
Visit Philadelphia acted properly two years ago when it discovered that its chief financial officer had misappropriated $210,000, the regional marketing agency's attorney said Friday. The publicly funded agency chose not to alert law enforcement to the misuse of funds, but dealt with the matter internally, allowing the CFO, Joyce Levitt, to resign without criminal charges in exchange for restitution. Levitt went on to work for another publicly funded nonprofit. The fund misuse and how Visit Philadelphia handled the matter are now under the scrutiny of the District Attorney's Office.
NEWS
September 12, 2014 | By Maddie Hanna, Inquirer Trenton Bureau
EAST BRUNSWICK, N.J. - They bashed President Obama, praised each other's leadership, and shared a hug on stage. Former Republican presidential nominee Mitt Romney and Gov. Christie, who campaigned for Romney in the run-up to the 2012 election, were together again Wednesday - this time at a fund-raiser for the New Jersey Republican Party that doubled as a 52d birthday celebration for Christie. And this time Christie, the chairman of the Republican Governors Association, is the one publicly mulling a bid for the Republican nomination in 2016 - though he assured attendees Wednesday night that he was focused on his "main job" as governor.
NEWS
September 12, 2014 | By Bonnie L. Cook, Inquirer Staff Writer
Paula Rae Barvin, 57, of Elkins Park, a professional fund-raiser who developed amyotrophic lateral sclerosis two years ago and wrote powerfully about her experience with the disease, died Thursday, Sept. 4, at her home. Born in Houston, Ms. Barvin graduated from Barnard College with a bachelor's degree in history. She had a long career as a fund-raiser for environmental and consumer rights organizations, including New Jersey Citizen Action, New Jersey Environmental Federation, and Pennsylvania Public Interest Coalition.
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