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BUSINESS
April 19, 2016 | By Jacob Adelman, Staff Writer
Former tennis pro Andre Agassi's charter-school investment fund is poised to turn a $1 million profit when it sells a North Philadelphia classroom building this week to the charter operator that has leased it for five years. The sale to KIPP Philadelphia Charter School is one of the first by Agassi's partnership with the California-based financier Bobby Turner since they set out in 2011 to deliver attractive returns to investors with a country-spanning portfolio of charter-school properties.
NEWS
April 18, 2016 | By Maria Panaritis, Staff Writer
Things should have been easy after Lower Merion Township announced plans a decade ago for a redevelopment of downtown Ardmore, a Main Line town with its own Amtrak and SEPTA train stop. The township picked a private developer. He planned to spend millions to rebuild a puny, aging train station and surround it with a multistory complex of luxury residences, parking, and shops. The state agreed to kick in up to $15 million. But what transpired instead is a big-money saga now before the Pennsylvania Supreme Court that focuses on a highly political grant pool controlled by the governor and state lawmakers.
NEWS
April 17, 2016 | By Susan Snyder, Staff Writer
Dickinson College is preparing to launch a major fund-raising campaign, but its current president, Nancy A. Roseman, won't be raising the funds. Roseman, who arrived at Dickinson in 2013 as the first female leader in the college's long history, said she would resign, effective June 30. "It's an eight-year marathon," Roseman, 57, said of the upcoming campaign. "You have to have a consuming appetite to take that on. I just recognize in myself that I didn't have the appetite for that eight-year marathon.
NEWS
April 16, 2016 | By Kathy Boccella and Angela Couloumbis, STAFF WRITERS
When the Centennial School District embarked on a $140 million building spree in the mid-2000s, with three new elementary schools and major high school renovations, officials failed to account for just one thing. They didn't expect that state government would keep finding ways to renege, or at least stall, on its promise to help districts pay down construction debts through its aid program known as PlanCon. That looked to be the case again this year, when the belatedly approved state budget didn't include money to make the expected PlanCon payments.
NEWS
April 15, 2016 | By Linda Loyd, STAFF WRITER
The Senate bill to reauthorize and fund programs of the Federal Aviation Administration includes a requirement that aircraft manufactures install secondary cockpit barriers on all new U.S. passenger airplanes. The measure, introduced by U.S. Sens. Robert Casey (D., Pa.) and Pat Toomey (R., Pa.), is part of the FAA Reauthorization Act being debated in the Senate this week. After the September 2001 terrorist attacks, Congress required commercial aircraft cockpit doors be reinforced.
NEWS
April 14, 2016 | By Martha Woodall, Staff Writer
CAPA's annual musical is in financial trouble. Again. The Music Man opens Wednesday night at CAPA - Philadelphia's High School for Creative and Performing Arts - on South Broad Street, but the home and school association is scrambling to cover the $60,000 production costs. "It's a dilemma we face every year," principal Joanne Beaver said Tuesday as students were preparing for a full dress rehearsal in the school's 350-seat auditorium. "It's not the typical high school musical," said Beaver, who is in her second year at the helm of the performing-arts magnet.
BUSINESS
April 8, 2016 | By Diane Mastrull, Inquirer Staff Writer
Following a successful drive in 2014 to fund the start of her Wild Mantle line of winter hooded scarves, Main Line entrepreneur Avi Loren Fox is launching another Kickstarter campaign Thursday to support a new line of hooded covers for warm weather. Fox, 29, a Narberth native who is Wild Mantle's CEO and designer, is looking to raise $44,000 to release a summer collection. She raised $39,827 in 2014 from 300 backers. The current campaign will kick off at 4:44 p.m. Thursday. "44 is my lucky number," Fox explained in an email.
NEWS
April 8, 2016 | By Jill Castellano, STAFF WRITER
The Kenney Administration has announced plans to use a $2.5 million federal grant to make Philadelphia's deathtrap less dangerous. Mayor Kenney announced Wednesday that members of the public can attend a series of forums to tell the city how the accident-prone and traffic-heavy Roosevelt Boulevard could be improved. The U.S. Department of Transportation TIGER grant awarded in 2014, coupled with another $2.5 million in state and local contributions, will fund four series of forums over the next three years which will lead to recommendations for the boulevard by February 2019.
BUSINESS
April 6, 2016 | By Bob Fernandez, Staff Writer
Former Comcast Corp. CFO Michael Angelakis, now running a $4 billion Comcast-backed investment fund, made his first big bet Monday with a $250 million investment in battered online-deals site Groupon. Angelakis will join the Groupon board as part of the transaction, Groupon said. Angelakis, Comcast's former chief financial officer and vice chairman, launched Atairos earlier this year, with offices in New York and Bryn Mawr. Comcast has agreed to fund Atairos with $4 billion. Atairos will be purchasing $250 million in senior notes that are due in 2022 and can initially be converted into Groupon shares at $5.40 a share, Groupon said Monday.
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