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Investment

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BUSINESS
October 27, 2012 | By Mike Armstrong, Inquirer Staff Writer
The Nutter administration is expected to announce Friday two initiatives, including a seed-capital fund aimed at supporting the city's growing entrepreneurial community. Through the Philadelphia Industrial Development Corp., the city intends to invest up to $3 million in a new "Startup PHL Seed Fund," which would be managed by an outside professional investment firm. That money would need to be matched by private investors at least dollar for dollar, according to a request for proposals that the city intends to issue.
NEWS
December 19, 1992
To paraphrase Groucho, "Say the secret word and win . . . millions and millions of dollars. Double, triple, quadruple your money - even more. That not-so-secret word, in the transition to Clintonomics, is investment. Which is a sanitized way for Democrats to talk about (shhh!) spending, often by government or by private concerns with incentives from government. Put out some money now, reap big dividends later. At the two-day economic conference this week, various special pleaders told the president-elect what they believe the country should spend - ahem, invest in. Infrastructure, job creation, education, training, high-speed rail.
NEWS
February 11, 1990 | By Al Haas, Inquirer Automotive Writer
The average new-car buyer spends $15,395 on his or her purchase. That's a real investment. Most people only make one bigger one: when they buy a home. Obviously, most people will want that new-car investment to retain as much value as possible. They will want it to be as long-lived, trouble-free and pleasurable as possible. As economically as possible. Here are some recommmendations on how to protect that costly investment - and how not to waste your money in the process. CHECK RE-SALE VALUE.
NEWS
June 21, 1995 | By Connie Langland, INQUIRER STAFF WRITER
The ins and outs of money management preoccupied the Chester County Commissioners at their meeting yesterday. Commissioners Joseph Kenna and Andrew Dinniman agreed the county should act quickly next week to invest the proceeds of a $22.5 million loan from the Delaware Valley Regional Finance Authority. Over time, the funds will be used to finance several major projects in the county, including open-space programs, a public-safety communications system and property reassessment, according to Mark Rupsis, director of administrative services.
NEWS
September 27, 2010
TetraLogic Pharmaceuticals, a privately held Malvern company that develops small-molecule drugs to treat cancer, announced today that it has received an investment of $5 million from Pfizer Ventures. The money brings to $37 million that investors have raised to finance the company since August. The fund will be used for the clinical development a drug that mimics naturally occurring proteins that help promote cell death.    - Christopher K. Hepp
NEWS
October 13, 2010
Discovery Laboratories Inc., Warrington, said today that it will get a $500,000 investment from PharmaBio Development Inc. as Discovery continues development of treatments for respiratory diseases. PharmaBio already owned 5.6 million Discovery shares. It agreed to purchase about 2.4 million additional shares of common stock and warrants for about 1.2 million shares, Discovery said. If it exercises the warrants, PharmaBio would own about 4 percent of outstanding shares. PharmaBio is the former strategic investing subsidiary of clinical research organization Quintiles Transnational Corp.
NEWS
February 11, 1988 | By Dominic Sama, Inquirer Staff Writer
The Radnor Township commissioners have asked for more information on a state-backed investment trust before investing township funds. The commissioners Monday night tabled a resolution that would have authorized the finance director to invest in the Pennsylvania Local Government Investment Trust (PLGIT), whose rates are sometimes higher than those of a commercial bank. Despite assurances from Commissioner George M. Aman 3d that the trust "is safer than banks," Commissioner Clinton A. Stuntebeck moved that the resolution be tabled for further discussion.
NEWS
March 9, 1995 | By Andy Wallace, INQUIRER STAFF WRITER
Ralph Allen Sturdivant Sr., 47, of Cedarbrook, , founder and co-owner of a prominent North Philadelphia investment firm, died Friday while scuba diving on vacation with his wife in the Grand Cayman Islands. Mr. Sturdivant was born in Pilesgrove, N.J., and educated in Baltimore public schools. He received a bachelor's degree in chemistry from Morgan State University. He also studied at the University of Pennsylvania's Wharton School. After two years in the Army, where he attained the rank of first lieutenant, Mr. Sturdivant worked for U.S. Steel and then for Merrill Lynch, where he was an account executive.
NEWS
November 11, 2002
Westward ho! That could be the latest rallying cry for housing in Philadelphia thanks to Citizens Bank's new program in and around University City. The news couldn't be more welcome. Not only will the effort build upon the University of Pennsylvania's success in redeveloping that area, it could encourage other lenders to invest in neighborhoods with the potential to go from high-risk to highly desirable. Citizens will make available $28.5 million in grants and low-interest loans for small businesses, and for residents and community groups to buy properties and do renovations.
BUSINESS
February 20, 2016 | By Jacob Adelman, Staff Writer
Iron Hill Brewery & Restaurant is teaming with a Greenwich, Conn.-based private-equity firm to expand the brewpub's regional footprint, making it the latest Philadelphia-area food and beverage chain to get a boost from a deep-pocketed benefactor with a broad geographic scope. Iron Hill received the investment from A&M Capital Opportunities to support the Wilmington-based chain's expansion into new Mid-Atlantic markets, the companies said in a statement Thursday. The investment from AMCO puts Iron Hill on a footing with La Colombe Torrefaction Inc. coffee roasters and Honeygrow fast-casual eateries in tapping private investment to take a locally developed concept to broader markets.
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NEWS
July 20, 2016 | By Olivia Exstrum, Staff Writer
Michael Donatucci was known as a man for others, a value, instilled in him through his Jesuit education, that shone through to everyone he met. "Anybody that ever met him always said he was such a gentleman," said his father, Ronald, Philadelphia's longtime register of wills. "I was blessed to know him for 31 years. " Mr. Donatucci, chief investment officer of the city's Pension Fund, took his own life Friday night, July 15. He would have turned 31 on Tuesday. He was found dead in his home by his fiancee, Meghan Klein, whom he met about 10 years ago in Margate, N.J., where the Donatucci family has a summer home.
NEWS
July 13, 2016
By Lex O. McMillan III I suspect that just about everyone has had the annoying experience of hearing someone hold forth on a subject with unshakable confidence but giving voice to pure bunk. In the heated atmosphere of our current political races, this experience is probably even more common. One of the most annoying that has been making the rounds for quite some time is the recurring refrain of a "student debt crisis. " I am probably imagining the frequency given my work as a college president, but it seems that almost daily, I read or hear someone invoke this phrase as if it were as uncontested as the sun rising in the east.
BUSINESS
July 12, 2016 | By Erin E. Arvedlund, Staff Writer
In the midst of the market uncertainty over Brexit, it's not just gold that's shining as an investment alternative these days. Silver is outperforming, as well. As gold has surged to its highest since March 2014 in recent weeks, silver is hovering around $19 an ounce, up roughly 10 percent since voters in Britain opted to leave the European Union. After hitting nearly $40 an ounce in 2011 and then crashing down to $11, silver recently broke above its January 2015 highs, a key price level.
BUSINESS
July 7, 2016 | By Joseph N. DiStefano, Staff Writer
Turner Investments plans to merge its investment-advisory platform with that of Michael Kennedy 's Radnor-based Veracen L.P ., in a proposal to use the shrunken Berwyn-based mutual-fund group founded by stock-picker Robert E. Turner to build a larger, more automated investment-management firm, according to privately circulated documents obtained by the Inquirer. If the deal goes through as planned later this month, Turner will also seek to raise $12.5 million from private investors to fund rapid expansion, according to an "investor presentation" dated June 30 and shown to potential investors.
BUSINESS
July 7, 2016 | By Linda Loyd, STAFF WRITER
Drug maker Merck said that it will acquire a controlling interest in Vallée S.A., a private producer of animal health products in Brazil. Under the terms, Merck's animal health business in Madison, N.J. will acquire 93 percent of Vallée for $400 million, based on current exchange rates. The agreement is subject to regulatory review. Under the deal, Vallée's portfolio of more than 100 products including parasiticides, anti-infectives and vaccines for livestock, horses, and companion animals, will be combined with Merck's animal-health division.
BUSINESS
June 28, 2016 | By Erin E. Arvedlund, Staff Writer
The British changed the course of history and voted to exit the European Union. Here in the United States, we'll feel that shift in our portfolios, as stocks, bonds, and other assets become more volatile. Gold and other precious metals, on the other hand, were rising sharply as a momentous week came to a close, as were U.S. Treasuries - all considered safe havens. "The long-lasting effects of this volatility will depend on how major central banks decide to reassure markets and the next steps the British Parliament, various political parties in the U.K., and the rest of Europe take to address the departure," Brandywine Global in Philadelphia, a division of Legg Mason, wrote in a note to clients Friday.
NEWS
June 15, 2016
By Darrell L. Clarke, Bobby Henon, Blondell Reynolds Brown, and Bill Greenlee On Thursday, City Council will pass a progressive budget that makes historic investments in our children, public spaces, and long-term economic vitality, and demonstrates that cities can rise above the political paralysis gripping state capitals and Washington. We commend Mayor Kenney and his staff for a bold first budget and for a collaborative and productive process. Communication with Council was key to building consensus and producing a final budget that is fiscally responsible and equitable.
BUSINESS
June 14, 2016 | By Erin E. Arvedlund, Staff Writer
We're living in a world of single-digit returns. That was the main takeaway from endowment and foundation investment managers at an institutional investor roundtable Thursday in Boston, where most of the top colleges and universities decried the stock market's current low level of returns. The market has run up so much since the Great Recession, there seems to be little room to run further. "I would be tickled to get 3 percent" real returns annually - meaning after inflation - in the current market environment, said John Alexander, chief investment officer of the Clemson University Foundation, who oversees the school's endowment.
BUSINESS
June 11, 2016 | By Jacob Adelman, STAFF WRITER
Bryn Mawr-based investment firm Pembroke Hobson L.L.C. has acquired the Stone Manor Corporate Center at 2600 and 2700 Kelly Rd. in Warrington for $19.8 million, according to commercial real estate services firm JLL, which helped broker the deal. Pembroke Hobson purchased the 121,500-square-foot property, which is at 100 percent occupancy, from Hartford, Conn.-based Cornerstone Real Estate Advisers, JLL said in a release on Thursday. jadelman@phillynews.com 215-854-2615 @jacobadelman  
SPORTS
May 24, 2016 | By Paul Domowitch, Daily News Columnist
WHILE MUCH HAS been made of the money that the Eagles are spending on the quarterback position this year, the fact of the matter is that the $22.35 million in 2016 salary-cap space that will be occupied by Sam Bradford ($12.5M), Chase Daniel ($5M) and Carson Wentz ($4.8M) is just the 11th-highest cap total for the position in the league. Given Bradford's solid play the second half of last season and Daniel's photographic knowledge of Doug Pederson's offense and Wentz's sky's-the-limit potential, you can make a decent argument that $22.35 million is a bargain.
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