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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.
BUSINESS
November 11, 2013 | By Joseph N. DiStefano, Inquirer Staff Writer
The companies headed by Nicholas Schorsch have bought more than $10 billion worth of hotels, clinics, stores, apartments, stockbrokerages, and investment funds across the United States, doubling their collective size. And that's just so far this year. "This is not growth for growth's sake," the fast-moving, solidly built Schorsch, 52, insisted in a conference call with investors Thursday. Rather, he said, "it is an all-out effort to gain competitive advantage" by growing so big that the group can buy and sell assets more cheaply.
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.
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BUSINESS
April 22, 2014 | By Erin E. Arvedlund, Inquirer Columnist
BetterInvesting Philadelphia, the local chapter of the national investment-education club, is hosting a daylong seminar Saturday in Willow Grove. You can learn how to invest in a way that doesn't involve a sales pitch or a too-aggressive broker. Just bring your brain and 20 bucks. It's called Philadelphia Area Spring Investors Day, and it's a great way to learn about investing while not betting your entire net worth. BetterInvesting chapter members contribute an amount each month toward the club's assets, which are used to buy stocks for the club's portfolio.
SPORTS
April 7, 2014 | By Tim Gilbert, For The Inquirer
STATE COLLEGE, Pa. - James Franklin expressed confidence in his first Penn State team's development after its 11th spring practice on Saturday. With the Blue-White Game scheduled for Saturday, there are several positions up for grabs. "The guys have done a great job investing, coming in and watching film," Franklin said to a small gathering of reporters in the Lasch Football Building's weight room. "I don't look at the big picture - it's just wake up every single morning and maximize that day. And I think our guys have been doing that.
BUSINESS
April 5, 2014 | By Jane M. Von Bergen, Inquirer Staff Writer
Tables were packed so tightly at the Radisson Plaza-Warwick Hotel for the Greater Philadelphia Chamber of Commerce's construction investment breakfast Thursday that a loose bull would have wreaked real havoc. But the bullish vibe among the 200 officials from construction companies, government agencies, trade unions, and engineering, architectural and law firms in the ballroom was clearly evident. "There's a lot more smiling," said panelist Stephen P. Mullin, president of Econsult Solutions, an economic-analysis firm in Philadelphia.
BUSINESS
March 27, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
When the dot.com boom crashed in 2001 and the easy money dried up, Guyana native Jonathan Brassington and two colleagues quit their venture capital-backed Philadelphia firm and set up their own small company: LiquidHub. They designed it to be self-funding - with cash from clients, not bets from investors - and went to work upgrading Internet services for some of the region's biggest companies. Today, LiquidHub is big enough, profitable enough, and growing fast enough to welcome investment from around the world.
BUSINESS
March 26, 2014 | By David Sell, Inquirer Staff Writer
Pharmaceuticals wholesaler AmerisourceBergen resumed its expansion into foreign markets Monday, saying it will invest about $100 million for a minority stake in a leading distributor in Brazil, Profarma Distribuidora de Produtos Farmacêuticos S.A. AmerisourceBergen, headquartered in Valley Forge, is the second largest distributor of prescription medicine in the United States, as measured by revenue. Brazil is the world's fifth most populous country, with about 200 million people, so there is opportunity, but also immense challenges.
BUSINESS
March 14, 2014 | By Erin E. Arvedlund, Inquirer Columnist
If you are a municipal-bond investor, we have two news flashes for you. First, we found a local money manager who recently purchased some Puerto Rican muni bonds, despite the island's debt downgrade to junk-bond rating some weeks ago. For investors with a high risk tolerance, Puerto Rico debt yielding about 8 percent tax-free has drawn some sophisticated buyers. Second, a new study out of S&P Dow Jones confirms that Wall Street is getting one over on us when it comes to municipal bonds: If you try to buy individual munis yourself, you are getting hosed on the price.
BUSINESS
February 27, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Money managers stayed away from investing in Europe and other foreign markets after the financial crises there in 2008 and 2011. But at least one changed his mind - and it's working in his favor. Steven Krawick, president and chief investment officer of West Chester Capital Advisors, a unit of AmeriServe (symbol: ASRV) in the fall of 2013 began adding European and Japanese equities to client portfolios. (With variations, typically his clients hold 60 percent stocks and 40 percent bonds.)
ENTERTAINMENT
February 20, 2014 | BY JONATHAN TAKIFF, Daily News Staff Writer takiffj@phillynews.com, 215-854-5960
HEY, "Wake Up Everybody. " Sony Music Entertainment is about to put another major push behind the classic "Sound of Philadelphia. " And the timing couldn't be better, as the architects of our lush soul, pop, jazz and disco-fueled mega-music machine - Kenny Gamble and Leon Huff - gear up for their 50th anniversary as a production team this year. Sony has just announced a deal to market and distribute all the recordings made for Gamble and Huff's Philadelphia International Records post-1975, after PIR broke away from the (now Sony owned)
BUSINESS
February 5, 2014 | By Harold Brubaker, Inquirer Staff Writer
Independence Blue Cross said Monday that it would invest up to $50 million in health-related venture funds and individual start-up companies that could help the region's largest health insurer improve quality and reduce the cost of health care. The time frame for the investments by the Strategic Innovation Portfolio has not been determined, but IBC chief executive Daniel J. Hilferty estimated that it would be five to seven years. The investment fund is a new element in a multipronged effort - now consolidated in what is called the IBC Center for Health Care Innovation - to turn the Philadelphia region into what Hilferty called "the national magnet" for companies developing technologies that could improve health care.
BUSINESS
January 24, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Directors of Pennsylvania's $27 billion State Employees' Retirement System (SERS), meeting in a closed-door session in Harrisburg, agreed Wednesday to hire the Philadelphia law firm Obermayer Rebmann Maxwell & Hippel L.L.P. to investigate questions raised by an unnamed SERS employee last spring that led to the early retirement of chief investment officer Anthony Clark. Lawyers for Gov. Corbett's administration spent April to December reviewing allegations by the unnamed employee that Clark spent time trading investments for himself while on the job, and that he had not reported on schedule losses at a hedge fund he had recommended to invest $250 million in state money.
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