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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
January 9, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Wall Street, it seems, is capable of doing business with criminals - like JPMorgan Chase & Co. did with scam artist Bernie Madoff. So it is critical to do your own due diligence when giving money to a new manager. JPMorgan agreed Tuesday to pay $2.5 billion in fines to Madoff's victims and regulators for ignoring the red flags related to the $65 billion Ponzi scammer. Despite warnings, JPMorgan continued to invest in Madoff's secretive hedge fund up until just a few months before the criminal mastermind's 2008 arrest.
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BUSINESS
September 18, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
An investigation into an unsuccessful investment by the Pennsylvania State Employees' Retirement System (SERS) has "found no evidence of illegality" by Anthony Clark, the system's former chief investment officer, who persuaded the system to pump $250 million into Tiger Management Advisors as the first step in a planned hedge fund strategy. "Whether Clark intentionally misled the board by seeking to conceal Tiger's poor performance is open to question," the investigator, former acting state attorney general Walter Cohen, added in his two-page note to the board summarizing his findings.
NEWS
September 15, 2014 | By Bonnie L. Cook, Inquirer Staff Writer
A memorial service will be held Saturday, Oct. 11, for Alan Crawford Jr., 88, an investment adviser, conservationist, and civic leader, who died Saturday, Aug. 23, at his home, Little Brook Farm in Devon. The cause of death was respiratory failure. Before retiring in 1986, Mr. Crawford was the managing partner of the Philadelphia office of Brown Brothers Harriman & Co., a private bank headquartered in New York City. He joined the firm in 1957 and was made partner in 1974. Prior to that, he worked at Stroud & Co., an investment company in Philadelphia.
NEWS
September 5, 2014 | By Maddie Hanna, Inquirer Trenton Bureau
MEXICO CITY - Gov. Christie flew south of the border Wednesday to pitch the Garden State to a country that is one of its largest trading partners. But by meeting with diplomatic officials, addressing Mexican business leaders, and delivering a policy speech focused on North American energy markets, Christie also presented himself as a leader on a stage larger than New Jersey. The Republican governor, who is considering a run for president in 2016, launched a three-day trade mission in Mexico that he said was intended to strengthen existing ties between New Jersey and the Latin American country that is its second-largest export partner.
BUSINESS
August 14, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Daniel Kline loves Philadelphia. But he's not putting his fund's millions to work at home. "The city has so many great reasons for people to want to rent and live here," says Kline, who named his real estate investment firm Delancey Street Capital after one of Society Hill's premier residential addresses. "I grew up here, went to [Wharton] here, learned the business from Mitch Morgan here," at Morgan Properties Inc. , the King of Prussia company that used the latest recession as a massive apartment-buying opportunity.
BUSINESS
August 12, 2014 | By Erin E. Arvedlund, Inquirer Columnist
In general, "free lunch" investment presentations can be risky. Many are geared to push products, like annuities, that may not be suitable for retail investors. Here are some alternatives for educating ourselves on investing. BetterInvesting's Philadelphia chapter is open to the public and free to attend. The next meeting is Sept. 13 at the Montgomery County-Norristown Public Library in Norristown. The club's purpose is to educate members and invest club assets in common stock for the financial benefit of the partners.
BUSINESS
July 31, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
California-based Macerich Co., which owns 55 U.S. shopping centers including the Deptford Mall, will invest $106.8 million in a joint venture to redevelop the Gallery at Market East and offer "accessible luxury retailing" there, Pennsylvania Real Estate Investment Trust, owner of the 1.4 million-square-foot Center City shopping complex, said Tuesday. Century 21, a New York fashion chain, is remodeling space in the former Strawbridge & Clothier flagship store at the east end of the Gallery at Eighth and Market Streets, with an October opening planned that PREIT has said will help anchor the mall's renovation.
BUSINESS
July 22, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Looking for some sleazy beach reading? Here's a tale of a whole family ripping off investors: Bernie Madoff and his sons are back in the news. More precisely, surviving son Andrew Madoff and deceased son Mark Madoff's estate have been sued, yet again, by a court-appointed trustee for over $150 million. They are accused of stealing directly from accounts of their clients, faking trades, deleting incriminating e-mails, and taking fake "loans" from the family business. I've long argued that Bernie Madoff's crime was too complicated to do alone, and earlier this year, five of his former employees were found guilty of helping him - they now face prison sentences.
BUSINESS
July 8, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Inflation is making a comeback - although the Federal Reserve doesn't think so - prompting us to determine how we might hedge against it, or benefit from rising prices. Witness higher prices everywhere: at the grocery for meat and coffee, at the gasoline pump, rents, even health care. Invest in companies that benefit from rising prices, such as exchange-traded funds Market Vectors Agribusiness ETF (MOO) that correspond to the price and yield of the Market Vectors Global Agribusiness Index.
BUSINESS
May 31, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
The underfunded Pennsylvania Public School Employees Retirement System has deleted contracts with "alternative investment" funds - that invest billions of dollars in teachers' retirement money - from the website of the state's Treasury Department . The decision to no longer make the contracts available for public scrutiny was confirmed Thursday by Evelyn Tatkovski , a spokeswoman for PSERS. I had asked PSERS about claims by Susan Webber , the New York financial consultant who runs the caustic website NakedCapitalism.com , that the posted documents had created a "Snowden moment.
NEWS
May 30, 2014 | By Andrew Seidman, Inquirer Trenton Bureau
The New Jersey Treasury Department's chief auditor is reviewing whether it violated the state's pay-to-play restrictions when it invested $15 million with a venture-capital firm tied to a Massachusetts gubernatorial candidate who had donated to the New Jersey Republican State Committee months earlier. The review was disclosed as New Jersey's State Investment Council met Wednesday to consider new "alternative investments" for the state's $76.76 billion pension fund. Charles Baker, an executive-in-residence at General Catalyst Partners, who is vying for the GOP nomination in Massachusetts' governor's race, contributed $10,000 to the New Jersey GOP in May 2011.
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