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Funding

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.
NEWS
April 5, 2016 | By Chris Mondics, Staff Writer
When a Philadelphia grand jury slammed Visit Philadelphia in a March 16 report for quietly settling a $200,000 embezzlement and failing to go to prosecutors, the tourism agency claimed it had little choice. Board chairman Manuel Stamatakis said the alleged embezzler, Joyce Levitt, offered through her lawyer to repay what was taken provided that the agency didn't go to the police. Had the agency reported the theft, Levitt likely would have spent all of her money on legal fees, leaving nothing for the agency.
NEWS
March 26, 2016
Federal prosecutors charged a Wilmington man with fraud and conspiracy in connection with contracts his food service company had with the Delaware County Courthouse cafeteria and several charter schools in Philadelphia. U.S. Attorney Charles M. Oberly III said Frank Dolce, 50, filed false federal tax returns for himself and for his company, Primos Food Service, and faces up to 10 years in prison if convicted of a slew of charges. Prosecutors said Dolce did not report cash that he collected from several food-service contracts, using some of that money to help buy a $355,500 boat.
NEWS
March 25, 2016 | By Rita Giordano, Staff Writer
The families of Friends Academy at Westampton have embarked on a crowdfunding campaign to raise $1 million in the hope of saving the Quaker school, which has seen declining enrollment. "What the parents are trying to do is what any parents would do - try to save a school that means a lot to our children," said Joseph Myers, a professor at Delaware County Community College, who has three children in the school. Last month, the parents learned that the school, which goes up to eighth grade, would close when the school year ends June 10. That announcement sent the parents scrambling for a way to maintain the school, which started as an early childhood education program and added kindergarten in 1983.
NEWS
March 23, 2016 | $util.encode.html($!item.byline), $util.encode.html($!item.bycredit)
LONGTIME VILLANOVA football coach Andy Talley, who will be retiring after this season, has been involved with the national bone-marrow donation program since the early 1990s. For the last eight years his "Get in the Game, Save a Life" initiative, run in joint partnership with Be The Match, has registered more than 60,000 new donors from more than 65 schools. And in that time 278 of those registrants have been identified as a patient's perfect match and donated their stem cells or marrow to help save someone's life.
NEWS
March 23, 2016 | By Laura McCrystal, Staff Writer
Lagging in polls and campaign funds in the race for state attorney general, John Morganelli came to Norristown on Monday to criticize Montgomery County Commissioner Josh Shapiro for taking campaign contributions from companies that received lucrative county contracts. Morganelli, top prosecutor in Northampton County for more than two decades, has struggled to gain traction in the statewide Democratic primary against Shapiro and Allegheny County District Attorney Stephen Zappala Jr. Standing on the steps of the Montgomery County Courthouse, Morganelli said Shapiro's acceptance of donations from companies that receive county contracts was hypocritical because Shapiro is campaigning on a promise to restore integrity to the Attorney General's Office.
BUSINESS
March 22, 2016 | By Joseph N. DiStefano, Staff Writer
U.S. investors squeezed by low bond yields and discouraged by the volatile stock market have pumped more than $50 billion into business development companies, or BDCs, in the last 10 years, in hopes of earning more. BDCs typically invest in debt sold by U.S. middle-market companies, including private-equity merger targets, energy-development projects, and mainstream companies that don't qualify for cheap bank loans. For the hope of higher, steadier interest yields, BDC investors often pay high broker fees.
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