September 25, 2015 |
TRENTON - New Jersey's pension-fund investments posted an annual return of 4.16 percent in the fiscal year that ended June 30, following years of mostly sustained double-digit returns, state officials said Wednesday. Nevertheless, according to Treasury Department data, the unaudited investment returns beat the state's benchmark, a composite of various indexes, which yielded 2.93 percent. The pension system for nearly 800,000 active and retired public workers had about $79 billion in assets at the end of the fiscal year.
September 19, 2015 |
For a penthouse, the top of One Liberty Place hasn't seen much action. First, it was a Cigna corporate cafeteria. Then, it sat vacant. Soon, though, the space - and, more important, the views - will be accessible to anyone willing to pay $19 a ticket. The One Liberty Observation Deck , to open in November, represents an investment "north of $10 million," said general manager Evan Evans. He expects it to attract half a million visitors per year. To his employer, the French company Montparnasse 56, it was an obvious choice.
September 18, 2015
ADISCUSSION going on right now is vital to the retirement money you've worked so hard to save. The Labor Department, directed by the Obama administration, is proposing that more advisers, when giving retirement investment advice, put their clients' best interest first. You're probably thinking what I thought after learning about this. Wait, these advisers aren't already required to recommend investment products that are in my best interest? Turns out, not all of them. The difference between who is required to follow that standard and who isn't comes down to language.
September 4, 2015 |
Communications Workers of America officials contend that Verizon has failed to fund the upkeep of its copper phone lines that still serve eight million customers and called Wednesday for Pennsylvania regulators to investigate. The CWA also sent letters to regulators in Delaware and Virginia, seeking investigations. The union is expected to eventually send one to New Jersey regulators. The union criticism comes as Verizon and the CWA are locked in thorny contract negotiations that include issues related to Verizon's commitment to its hybrid network of copper and high-speed fiber-optic lines, or FiOS.
August 14, 2015 |
Taking a bigger stake in a fast-growing new digital media company, Comcast Corp.-owned NBCUniversal will invest $200 million into Vox Media, whose brands include SB Nation, Polygon, The Verge, Eater, Racked, Curbed, and Re/code. In 2014, The Verge published a scathing multi-part series on Comcast's woeful customer service. "Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences," NBCUniversal CEO Steve Burke said in a statement. Comcast previously owned a 14 percent stake in Vox through its ventures arm. Even with the new investment, Comcast will still own a minority stake in Vox Media, an industry observer said.
August 10, 2015 |
Philadelphia has long wanted a direct flight to the Asia Pacific region. A survey of business travelers here in 2012 found the top desired international business destinations were Tokyo, Shanghai, Beijing and Mumbai, India. Philadelphia already has a lot of international service to Europe, Mexico, the Caribbean, and the Middle East. But attracting a nonstop flight to China, Japan, Hong Kong, or Korea has proven difficult. "We are the largest metropolitan area in the United States without direct nonstop service tothe Asia Pacific," Philadelphia International Airport CEO Mark Gale saidin a recent interview.
July 20, 2015
A photo caption Sunday erred in describing a program for ex-offenders. It was not a Pay for Success investment, but Philadelphia officials are studying whether such investments can fund a similar program here. In an article Sunday about black ballerinas, Misty Copeland's father was described as being white. He is biracial.
June 19, 2015
ISSUE | WORKFORCE Partnership worth investment re-up Pennsylvania is known nationally for connecting workforce training to the needs of key industries, creating workers with the capabilities needed for high productivity, healthy profits, and good wages. The state's Industry Partnership program has even helped shape a new federal workforce law that will be implemented shortly. Through the simple step of bringing businesses together to identify common personnel challenges and opportunities, more than 100,000 workers have been up-skilled since 2005.
June 19, 2015 |
National Institutes of Health director Francis Collins reminded biotech executives Wednesday in Philadelphia that the big money they hope to make from drugs, medical devices, and other health care technology often starts with the taxpayers. "NIH is the largest supporter of biomedical research in the world," Collins told a packed conference room at the BIO International 2015 at the Pennsylvania Convention Center. He then cautioned them about the political and economic realities of America.
June 8, 2015 |
Now that the May election is over, City Council members have stopped campaigning and gotten serious about filling the hole in the School District's budget, right? Actually, no, they haven't. Compared with the need, the paltry $70 million that Council would generate by tepidly hiking three taxes is a joke. Superintendent William R. Hite Jr. has made it very clear that the schools need at least $85 million just to maintain the terrible status quo, which means a continuation of crowded classrooms with too few counselors, librarians, and nurses.