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.
June 14, 2016 |
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.
June 11, 2016 |
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. email@example.com 215-854-2615 @jacobadelman
May 24, 2016 |
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.
May 23, 2016
Trump's tax history vs. his rhetoric. A4. Trump's investment in race: $43 million. A4. In coal country, scant support for Clinton. A5.
May 20, 2016 |
DOUG O'NEILL was anything but an instant success in horse racing, winning only 22 races in his first 10 years as a trainer. He began to win more in the 2000s, but one horse really changed everything. Lava Man was 35-1 in his first start on June 19, 2003. He was entered to be claimed for $12,500 at the Stockton (Calif.) Fair. There were no takers. The horse finished fourth. In the horse's 13th race, O'Neill claimed Lava Man for $50,000. Thirty-four races later, the horse had won more than $5 million for O'Neill's owners, including an incredible 2007 with wins in the three biggest stakes for older horses in California, the Santa Anita Handicap, the Hollywood Gold Cup and the Pacific Classic.
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.