April 12, 2016 |
On paper it seemed pretty simple. The state gave a newly created venture capital fund $1.5 million to invest in small minority businesses in Philadelphia. Those businesses would share their profits with the fund and the money could be used to invest in more businesses. But 20 years and several lawsuits later, taxpayers lost on their bet. Of $1.25 million invested in 14 businesses between 2004 and 2006, the city recovered only $225,000. Nine of the businesses paid nothing back.
April 6, 2016 |
Citing the likelihood of another impasse over the next state budget, Moody's Investor Services has affirmed its negative credit rating for the Philadelphia School District. Moody's highlighted the district's recent efforts to stabilize the finances of the city's schools. But the credit opinion released Friday said that the continued "Ba3" rating for the district's debt "reflects the continued uncertainty surrounding" the state budget for the fiscal year that begins July 1 and the potential impact it could have on the district's finances and ability to borrow money.
April 4, 2016 |
A new international study suggests that the cholesterol-lowering drugs called statins may be warranted not only for people at high risk of heart disease, but also for those at intermediate risk. Yet whether doctors will recommend the daily pills for these millions of additional patients remains to be seen. The drugs appeared to reduce the number of cardiovascular "events" - a composite measure of heart attack, strokes, and deaths - but the researchers had to follow an awful lot of people to see the reduction, they reported Saturday in the New England Journal of Medicine.
December 10, 2015 |
If you were at high risk for a deadly, untreatable disease, would you want to know it? Would you want to join a clinical trial? Alzheimer's researchers are hoping that a lot of people are so eager to find a cure that they will answer yes to both those questions. GeneMatch, an ambitious, national effort to recruit people at high genetic risk for Alzheimer's disease, was launched Tuesday by the Banner Alzheimer's Institute in Phoenix and will include a key role for University of Pennsylvania researchers.
January 22, 2015 |
SPECULATION around the Flyers is growing that defenseman Kimmo Timonen may return to the ice, after all, this season. Timonen, 39, who has been on injured reserve this season due to blood clots, has maintained he would rather retire with his skates on than shoes. So far, after days of deliberation, doctors have not yet told him, or the Flyers, that he cannot resume his career. The Flyers have consulted with multiple doctors and experts since CT scans revealed last Friday that one of the multiple blood clots discovered in his body in August has not yet been fully reabsorbed into his system.
November 7, 2013 |
U.S. ATTORNEY General Eric Holder, who was in town to observe Philadelphia's Supervision to Aid Re-entry (STAR) program for ex-offenders, learned two new phrases in federal court yesterday: "boo lovin' " and "hugged up. " When U.S. District Judge L. Felipe Restrepo asked STAR participant Rashaan Bates why he had missed a recent probation meeting, Bates' response was: "I was boo lovin.' " When asked to clarify, Bates said: "I was hugged up," making...
July 31, 2013 |
The Philadelphia region is home to some well-respected municipal-bond-investing experts, among them David Kotok, chief investment officer of Cumberland Advisors in Vineland, N.J., and Tom Kozlik, of Janney Montgomery Scott in Center City. We checked in with them to find out the skinny on investing in munis right now, after Detroit's bankruptcy filing sounded a wake-up call across the market. In recent days, Kotok has been advancing a war of words with the Cassandra of muni bonds, Meredith Whitney, who famously appeared on 60 Minutes in 2010 predicting an avalanche of bankruptcies across American cities.
June 29, 2013 |
Federal officials granted an 18-month extension Thursday to a Doylestown program that has earned national attention for its efforts to keep chronically ill seniors out of the hospital. Health Quality Partners, a nonprofit that arranges for nurses to make periodic visits to the homes of 560 seniors in the suburbs and beyond, had been told in December that its federal funding would run out at the end of this month. But officials at the Centers for Medicare and Medicaid Services have changed course, saying the program deserved more time to show whether it had nailed the central challenge of 21st-century U.S. health care: improving quality while cutting costs.
June 19, 2013 |
Updated preliminary flood maps issued Monday by the Federal Emergency Management Agency drastically reduce the area included in high-risk flood zones in three New Jersey Shore counties and one northern county - a move that has some homeowners sighing in relief. "This is wonderful news. . . . I can breathe a little easier now," said Brigantine resident Laurel Haeser, whose property overlooking a golf course had previously been included in the so-called V zone, or High Risk Velocity.
May 10, 2013 |
Eating fish is good for your heart, but taking fish-oil capsules does not help people at high risk of heart problems who are already taking medicines to prevent them, a large study in Italy found. The work makes clearer who does and does not benefit from taking supplements of the good oils found in fish such as salmon, tuna, and sardines. Previous studies have suggested that fish-oil capsules could lower heart risks in people with heart failure or who have already suffered a heart attack.