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Investment

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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
January 30, 2016 | By Bob Fernandez, STAFF WRITER
Comcast Ventures, the venture capital arm of the cable giant, has invested in Wilmington's College Ave Student Loans. The College Ave Student Loans start-up operates an online marketplace to connect college students with loans for college. Comcast Ventures, part of Comcast Corp., was the largest investor in a $20-million financing round that includes Fenway Summer Ventures, DW Partners and former Sallie Mae CEO Albert L. Lord. College Ave Student Student Loans launched in 2014 and originated its first college loan in January 2015.
BUSINESS
January 29, 2016 | By Jacob Adelman, Staff Writer
An investment group has purchased the site of the failed Walter D. Palmer Leadership Learning Partners Charter School near Northern Liberties, with plans for the parcel that could include housing and retail use. American Investment Partners acquired the 1.5-acre parcel at 910 N. Sixth St. on Jan. 15, according to Andrew Yaffe, the group's president. He would not say how much the group paid. The transaction, about a year after the Palmer school abandoned the property, comes amid a flurry of real estate activity in the West Poplar neighborhood, just west of heavily redeveloped Northern Liberties.
NEWS
January 21, 2016
OFTEN WHEN PEOPLE ask me a personal-finance question, they feel embarrassed. They start with, "I know this is a stupid question. but ... " I'd be lying if I said I'm not alarmed when people ask about financial matters so basic that to not know is frightening. One woman, who was putting money into her 401(k), said she wasn't investing and wanted to know how she could start. She had no idea she was already investing in various funds within her workplace retirement account. She thought investing only meant buying individual stocks.
BUSINESS
January 18, 2016 | By Harold Brubaker, Staff Writer
When King of Prussia developer Brian O'Neill convinced a New York private equity firm to back his fledgling Recovery Centers of America, he capitalized on one key trend: The long stigmatized field of addiction treatment has become one of health care's hottest investment sectors. Federal changes boosting access to care for alcoholics and drug addicts as well as people with mental illness, and growing attention to deaths from prescription painkillers and heroin, are luring investors to buy into addiction treatment.
BUSINESS
January 14, 2016 | By Harold Brubaker, STAFF WRITER
Tmunity Therapeutics Inc., a Philadelphia company founded last year to build on research at the University of Pennsylvania's Center for Cellular Immunotherapies, said it received a $10 million investment from Penn Medicine and Lilly Asia Ventures, an affiliate of drugmaker Eli Lilly & Co. Gene therapy pioneer Carl June, who has led Penn's immunotherapy trials for more than two decades, cofounded Tmunity, which is working on therapies that enable...
BUSINESS
January 13, 2016 | By Erin Arvedlund, Staff Writer
Everyone and her dog is buying tickets for Wednesday night's Powerball drawing, whose jackpot is approaching $1.6 billion. But how to handle the winnings? Lump sum or annuity? Take the annuity and pull down a cool $50.5 million a year before taxes. (That's $1.5 billion divided by 30 years, plus interest, currently 1 percent in a savings account). Take the lump-sum cash award and receive an estimated $868 million before taxes. The obvious next question: how to invest the winnings?
NEWS
January 6, 2016
John Angelo, 74, who cofounded Angelo, Gordon & Co. and presided 27 years over the New York investment firm's growth to $26 billion in assets under management, died Friday from cancer, according to an email statement from Michael Gordon, the firm's other cofounder. "John was one of the most forward-looking people I have known, and a driving force in achieving success for our clients and for us," Gordon said. "We will all miss him. " Mr. Angelo, the firm's chief executive officer, started the company with Gordon after an 18-year career with L.F. Rothschild & Co. in which he specialized in convertible securities, options, futures and distressed securities, according to a biography on the firm's website.
SPORTS
December 20, 2015 | By Aaron Carter, Staff Writer
Crystal Palace of the English Premier League announced Friday that it has signed a deal with investors Josh Harris and David Blitzer, co-managing partners of the 76ers. According to the agreement, chairman Steve Parish will join Harris and Blitzer in a general partnership structure. Last week, Forbes Magazine reported that Harris and Blitzer would become major investors in the London-based soccer team. Forbes reported that the purchase would help them "get to know the market" in London because their goal was to put an expansion NFL team there, according to a source.
BUSINESS
November 18, 2015 | By Bob Fernadez, Inquirer Staff Writer
Comcast Corp. invested into virtual reality startup firm NextVR Inc., based in Laguna Beach, Calif. The company develops live-action virtual reality technology to enhance TV viewing. Comcast is one of several investors - among them, Time Warner, Hollywood executive Peter Gruber and the Madison Square Garden Co. - in this round of financing that raised $30.5 million. Terms of Comcast's investment were not disclosed. Comcast Ventures, a Comcast-owned venture fund with offices in Silicon Valley, Philadelphia and New York, made the investment.
BUSINESS
November 13, 2015 | By Jacob Adelman, Inquirer Staff Writer
Backers of a plan to transform unused rail lines north of Center City into an elevated park say it will draw private investment to blighted areas. That may already be happening at 990 Spring Garden, which sits near a stretch of the planned Viaduct Rail Park that runs through a rundown industrial district along Callowhill Street east of Broad. Owners of the 88-year-old building, now mostly home to city offices, are turning it into loft-style suites to attract creatively minded companies and technology firms.
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