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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
September 12, 2012 | By Harold Brubaker, INQUIRER STAFF WRITER
Superior Group Inc., of West Conshohocken, sold two companies, Superior Tube Co. Inc. in Collegeville and Fine Tubes Ltd. in England, to the Watermill Group, a private investment company in Lexington, Mass., the buyer said. The price was not disclosed. The manufacturers' products are used in the energy, aerospace, and medical device industries. Fine Tubes employs around 380 people, according to its website. Watermill did not immediately respond to a request for more details on the Collegeville operation.
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NEWS
October 26, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Starting a business of your own sounds like a do-it-yourself proposition. But entrepreneurs will tell you this secret to success: It takes a village. When Francine Griesing left "Big Law" to start her own firm, she needed some key things: a few clients, a business plan, and some savings in the bank. She had worked at Greenberg Traurig and networked extensively during her time there, serving on professional organizations such as the Philadelphia Bar Association. Today, her firm, Griesing Law, represents Fortune 500 corporations in high-stakes litigation, intellectual property, and employment matters.
NEWS
October 20, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Philadelphia is as cool as Silicon Valley or Manhattan for start-ups and aspiring entrepreneurs. Yes, really. Got an idea? Go for it. "Philly is a great sandbox. You can try, fail, try again, tweak, and you're not under a huge microscope," says venture capitalist Patrick FitzGerald. Just ask Allison Berliner, who earned an M.B.A. from the Wharton School of Business at the University of Pennsylvania. She spent a semester in San Francisco, but came back east to work at Wanderfly, then co-founded a fashion brands-matchmaking website, PopInShop, in Philly.
BUSINESS
October 16, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Are investors rushing in where banks fear to tread? Amid the stock market surge of the last couple of years, buyers of smaller, private U.S. companies worth $10 million to $250 million have borrowed more money to finance deals, while investing less of their own, says Philadelphia investment banker Andy Greenberg . He tracks these deals as a partner in GF Data , a West Conshohocken firm that collects company sales prices and terms from...
NEWS
October 12, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Stock flippers and ratholes: That was the dirty business of true-life Wolf of Wall Street Jordan Belfort, says Gregory Coleman, the FBI special agent who ensnared the notorious criminal. The real story is even better than the movie. And, like every good story, it has lessons for us. Coleman was invited to tell the tale at the recent Economic Crimes Conference at the Philadelphia FBI offices by Assistant Special Agent-in-Charge John Brosnan, formerly of Coleman's old New York squad.
BUSINESS
October 7, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Women save a higher percentage of their paychecks, according to new data from Vanguard, the Malvern mutual fund giant. Number-crunchers such as Jean Young, senior research analyst at the Vanguard Center for Retirement Research, have taken note of this trend. "For as long as we've followed the data, women contribute more to savings, but have lower savings levels," said Young, in part because their paychecks are lower. (You can read more about the gender divide research at Vanguard's web site: http://vanguardinstitutionalblog.com )
NEWS
October 6, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Would you buy your college-aged or adult child a house? It's a growing trend, particularly as the real estate market rebounds. Broker Eric Rehling with Re/Max in Conshohocken says real estate may feel more stable as an investment than the capital markets. "The parents that have the means to do this are nervous the stock market is a bit overvalued, or they have a decent amount of cash in their accounts because of the run-up," Rehling says. Depending on their age and tax bracket, some parents approaching 70½ are required to start withdrawing money from retirement funds.
NEWS
September 28, 2014 | By Claudia Vargas, Inquirer Staff Writer
Fresh off a trip to South Korea, City Councilman David Oh has introduced legislation that would create an agency to oversee international trade missions and attract foreign investment to Philadelphia. "Our city doesn't do international very well," Oh said. "There's no money. You need money to do things. " Oh's plan is to establish a quasi-government agency, outside the direct control of the mayor and with its own funding stream. The International Trade and Investment Authority, as he wants to call it, would be primarily funded through the EB-5 federal program, which links foreign investors with local projects in return for temporary U.S. visas.
NEWS
September 28, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Is your college student living at home this year? You can charge your kid rent, and be paid out of the 529 college-savings plan you set up years ago. Most important: The student must be enrolled at least half-time in school. According to accounting and tax experts, withdrawals from a 529 education fund can be used to cover housing expenses even if students continue living with their parents while attending college. Some experts, such as Rosalind Sutch of Drucker & Scaccetti Certified Public Accountants/Business Advisors in Center City, say it's crucial to be careful about how you account for those expenses out of a 529 plan.
BUSINESS
September 19, 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.
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