July 20, 2016 |
Michael Donatucci was known as a man for others, a value, instilled in him through his Jesuit education, that shone through to everyone he met. "Anybody that ever met him always said he was such a gentleman," said his father, Ronald, Philadelphia's longtime register of wills. "I was blessed to know him for 31 years. " Mr. Donatucci, chief investment officer of the city's Pension Fund, took his own life Friday night, July 15. He would have turned 31 on Tuesday. He was found dead in his home by his fiancee, Meghan Klein, whom he met about 10 years ago in Margate, N.J., where the Donatucci family has a summer home.
July 13, 2016
By Lex O. McMillan III I suspect that just about everyone has had the annoying experience of hearing someone hold forth on a subject with unshakable confidence but giving voice to pure bunk. In the heated atmosphere of our current political races, this experience is probably even more common. One of the most annoying that has been making the rounds for quite some time is the recurring refrain of a "student debt crisis. " I am probably imagining the frequency given my work as a college president, but it seems that almost daily, I read or hear someone invoke this phrase as if it were as uncontested as the sun rising in the east.
July 12, 2016 |
In the midst of the market uncertainty over Brexit, it's not just gold that's shining as an investment alternative these days. Silver is outperforming, as well. As gold has surged to its highest since March 2014 in recent weeks, silver is hovering around $19 an ounce, up roughly 10 percent since voters in Britain opted to leave the European Union. After hitting nearly $40 an ounce in 2011 and then crashing down to $11, silver recently broke above its January 2015 highs, a key price level.
July 7, 2016 |
Turner Investments plans to merge its investment-advisory platform with that of Michael Kennedy 's Radnor-based Veracen L.P ., in a proposal to use the shrunken Berwyn-based mutual-fund group founded by stock-picker Robert E. Turner to build a larger, more automated investment-management firm, according to privately circulated documents obtained by the Inquirer. If the deal goes through as planned later this month, Turner will also seek to raise $12.5 million from private investors to fund rapid expansion, according to an "investor presentation" dated June 30 and shown to potential investors.
July 7, 2016 |
Drug maker Merck said that it will acquire a controlling interest in Vallée S.A., a private producer of animal health products in Brazil. Under the terms, Merck's animal health business in Madison, N.J. will acquire 93 percent of Vallée for $400 million, based on current exchange rates. The agreement is subject to regulatory review. Under the deal, Vallée's portfolio of more than 100 products including parasiticides, anti-infectives and vaccines for livestock, horses, and companion animals, will be combined with Merck's animal-health division.
June 28, 2016 |
The British changed the course of history and voted to exit the European Union. Here in the United States, we'll feel that shift in our portfolios, as stocks, bonds, and other assets become more volatile. Gold and other precious metals, on the other hand, were rising sharply as a momentous week came to a close, as were U.S. Treasuries - all considered safe havens. "The long-lasting effects of this volatility will depend on how major central banks decide to reassure markets and the next steps the British Parliament, various political parties in the U.K., and the rest of Europe take to address the departure," Brandywine Global in Philadelphia, a division of Legg Mason, wrote in a note to clients Friday.
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. firstname.lastname@example.org 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.