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NEWS
April 9, 2015 | BY MENSAH M. DEAN, Daily News Staff Writer deanm@phillynews.com, 215-854-4172
MEMBERS OF Philadelphia's arts community were singing, dancing and even playing the violin at City Hall yesterday - but they weren't celebrating. Instead, they were trying to bring attention to the fact that Mayor Nutter's budget proposal for the fiscal year beginning July 1 contains a 40 percent reduction to the budget of the Philadelphia Cultural Fund. The fund, a nonprofit corporation established by the city in 1991 to award city-funded grants to art organizations, is in line to receive $1.84 million for fiscal year 2016, or $1.3 million less than it received in the current-year budget of $3.14 million.
BUSINESS
April 8, 2015 | By Harold Brubaker, Inquirer Staff Writer
Independence Health Group Inc., the nonprofit holding company for Independence Blue Cross and other businesses affiliated with the Philadelphia region's largest health insurer, on Monday reported a decline in annual net income for the third year in a row. The drop, to $69.18 million last year from $142.64 million in 2013, came despite a 19 percent gain in revenue, to $13.2 billion, and the addition of two million members to Independence's operations...
BUSINESS
April 7, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
One of the nation's biggest retail landlords says it has turned the page on last year's troubles and is ready to grow again. Five months after its stock lost more than half its value in a financial-reporting scandal, American Realty Capital Properties (Nasdaq: ARCP), one of many firms set up by Jenkintown scrap-metal heir-turned-property mogul Nicholas Schorsch, still controls impressive assets: nearly 5,000 Lowe's building-supply stores, Red Lobster restaurants, CVS pharmacies, Citizens Bank branches, and others, totaling over 100 million square feet.
NEWS
April 3, 2015 | By Walter F. Naedele, Inquirer Staff Writer
Beverly Robinson Anderson, 88, of Cherry Hill, a former leader of an African American women's organization in South Jersey, died Friday, March 27, of cancer at her home. In 1984, Mrs. Anderson was president of Theta Pi Omega, a chapter covering Burlington, Camden, and Gloucester Counties for Alpha Kappa Alpha, the sorority of African American women. She had been a member for 70 years. Born in Jackson, Miss., Mrs. Anderson earned a bachelor's degree cum laude in dramatic arts at Dillard University in New Orleans in 1947 and, after settling in South Jersey, a master's degree in communications at William Paterson University in Wayne in 1972.
NEWS
April 3, 2015 | By Frank Fitzpatrick, Inquirer Staff Writer
Maybe now we know why, despite an offseason rife with speculation, the Phillies haven't yet traded Cole Hamels. After all, it took five Arizona State grad students using two computer models and countless statistical metrics more than 60 hours over five days to devise what a panel of baseball experts judged the best possible deal for the Phillies ace. Their winning proposal, selected from among all those formulated by 21 teams of collegians, had...
NEWS
April 3, 2015 | By Stephan Salisbury, Inquirer Staff Writer
After 18 years performing at the tiny but storied Adrienne Theater on Sansom Street, InterAct Theatre Company will be picking up its props and sets and leading a group of four other theatrical organizations to a new, multistage home being carved out of the old Drake hotel ballroom behind the Kimmel Center. The move, scheduled to be announced Thursday, represents something of a sea change in the city's performing arts landscape, bringing smaller producing theater companies into closer proximity to the Avenue of the Arts.
BUSINESS
April 2, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
Shares of Citizens Financial Group , the $128 billion Rhode Island-based company that owns Citizens Bank of Pennsylvania and naming rights to the Phillies' stadium, are up 13 percent since an initial public offering on the New York Stock Exchange in September. That beats the KBW Index of big-bank stocks, which has been flat during the same period, as low interest rates have squeezed bank profits. Citizens sold more shares last week, raising more than $3 billion for its past owner, Royal Bank of Scotland , which plans to sell its remaining stock by next year.
NEWS
March 27, 2015 | By Kathy Boccella, Inquirer Staff Writer
In a dispute over its right to host an Israeli-Palestinian program, Swarthmore College's Hillel has broken with the global Jewish-student organization and changed its name. The schism is symptomatic of increasing tensions between local chapters and Hillel, which has attempted to stop them from hosting events that involve speakers or groups deemed to be anti-Israel. Speakers who appeared Tuesday and Wednesday at the Delaware County school included Ira Grupper, Mark Levy, Larry Rubin, and Dorothy Zellner, veterans of the Student Nonviolent Coordinating Committee formed in 1960 during the civil rights movement who are now involved in Palestinian solidarity activities.
NEWS
March 26, 2015 | BY MORGAN ZALOT, Daily News Staff Writer zalotm@phillynews.com, 215-854-5928
AN ONGOING BATTLE over a Philadelphia suburb's ordinance regulating guns in parks could wind up in court, after a pro-gun group last week filed a lawsuit against Lower Merion Township, calling its regulation an "egregious and direct violation" of state law. Firearm Owners Against Crime, a political-action committee; its president, Kim Stolfer; and Joseph Abramson, an FOAC member and gun owner who lives in Lower Merion, are plaintiffs in the suit,...
NEWS
March 24, 2015 | Chris Hepp, Inquirer Staff Writer
Joel Greenberg once donated $1 million to a struggling after-school music program in West Philadelphia, having read about it in the newspaper. The Main Line financial trader didn't bother to return a reporter's call asking why he did so. Greenberg is like that, those who know him say - passionate in his desire to help others, particularly children, and uninterested in self-promotion. "He does not want to be front and center," said Ina B. Lipman, executive director of the Children's Scholarship Fund, another cause that has benefited from Greenberg's largesse.
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