May 17, 2016
Securities trades recently reported to the Securities and Exchange Commission by officers, directors and principal shareholders of corporations based or having sizable employment in the Philadelphia area. Titles are as reported to the SEC. American Water Works Co. Inc. Walter J. Lynch , chief operating officer, sold 37,995 shares at $74.33 to $74.50 on May 9 to May 10, and now directly holds 179,528 shares. Ametek Inc. James R. Malone , director, sold 6,363 shares at $46.76 on May 10, and now directly holds 4,900 shares.
May 5, 2016 |
Prospect Medical Holdings Inc.'s deal to buy Crozer-Keystone Health System calls for the California company to change virtually nothing about the operations of the financially beleaguered Delaware County system for five years. What happens after that is a big worry for nurses, community activists, and public officials who testified at a hearing Wednesday on the sale of the tax-exempt Crozer, which traces its roots to the 1893 founding of Chester Hospital, to Prospect. Mitchell Lew, president of Prospect, which is based in Los Angeles and has 14 hospitals in California, Texas, Rhode Island, and New Jersey, offered assurance that the company would be committed to the community.
April 28, 2016
By Kathy Fisher A well-funded ad campaign should not dictate the fate of policy that will improve our children's future. If you live in Philadelphia, you've most likely seen the American Beverage Association's "grocery tax" commercials. These misleading spots, replicated in major and neighborhood newspapers alike, claim that families' supermarket bills will rise astronomically should Mayor Kenney's proposed tax on sugar-sweetened beverages go into effect. The simple facts are: The tax is on sugar-sweetened beverages only, not other grocery items, and people of all income levels can choose to cut back on their consumption by choosing other beverages.
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 4, 2016
Kevin R. Johnson is president and CEO of the Philadelphia Opportunities Industrialization Center When it comes to addressing Philadelphia's persistently high poverty rate, what many people fail to understand is that creating jobs is simply not enough. There must be educational investment in the very neighborhoods struggling the most. In a city where an estimated two-thirds of its residents read at an eighth-grade level, or below, we must build creative pathways to employment.
April 1, 2016 |
Samuel Williams Parke Jr., 77, formerly of Phoenixville, an investment manager in Philadelphia for a quarter century, died Thursday, March 24, of cancer at his retirement home in Tiburon, Calif. Born to Samuel W. and Sarah E. Parke in Philadelphia, he graduated from Germantown Friends School in 1956 and Dartmouth College in 1960. Mr. Parke married Marily Clapham in 1975. The couple lived in Wyndmoor and Ambler. She died in 1994. In 2003, Mr. Parke married Marilyn M. Johnston, and the two lived in Phoenixville before moving to Tiburon.
March 29, 2016 |
Polls prior to the March 8 Michigan primary were showing Hillary Clinton with a double-digit lead over Bernie Sanders. However, as we now know, Sanders eked out a win over Clinton in the state. Professionals in the survey research community are fully aware of the challenges facing public opinion polling in general, and preelection polling in particular. It is no longer simply a matter of selecting a sample of respondents that is representative of the population and contacting them.
March 28, 2016 |
Brenda D. Gavin, 67, of Philadelphia, a nationally known venture capitalist and a business leader in Philadelphia, died Thursday, March 17, of a stroke at Pennsylvania Hospital. In life, Dr. Gavin nurtured many new life-science companies and mentored numerous colleagues; in death, she became a gift-of-life donor for four patients in need of transplant organs. One of the earliest women to become schooled and active in health-sciences venture capital investing, Dr. Gavin knew how to connect the right scientists and physicians to start successful new companies, her family said.
March 8, 2016 |
Regulators are waging a new campaign to educate us about investing - before we invest. On Wednesday, the Securities and Exchange Commission's regional office here plans a seminar at the Free Library of Philadelphia's Parkway Central branch, 1901 Vine St. Attorneys from the SEC will educate seniors - and anyone else - who want to learn to avoid investment scams and recognize the red flags. Hosted by SEC attorney Cindy Hoekstra, the seminar is the first of two this month. The second one, "Choosing the Right Investment Adviser," is set for March 30, also at the library's Parkway Central branch.
March 1, 2016
CenterSquare Investment Management focuses on "real assets" such as real estate and infrastructure (think utilities, telecommunications towers, and airports). This $8.2 billion firm is a quiet giant with headquarters in Plymouth Meeting. It runs money mostly for institutions, but there are ways to invest with CenterSquare through listed mutual funds. For instance, CenterSquare is contracted to run the Dreyfus Global Infrastructure Fund and the Dreyfus Global Real Estate Securities Fund.