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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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BUSINESS
July 22, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Looking for some sleazy beach reading? Here's a tale of a whole family ripping off investors: Bernie Madoff and his sons are back in the news. More precisely, surviving son Andrew Madoff and deceased son Mark Madoff's estate have been sued, yet again, by a court-appointed trustee for over $150 million. They are accused of stealing directly from accounts of their clients, faking trades, deleting incriminating e-mails, and taking fake "loans" from the family business. I've long argued that Bernie Madoff's crime was too complicated to do alone, and earlier this year, five of his former employees were found guilty of helping him - they now face prison sentences.
BUSINESS
July 8, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Inflation is making a comeback - although the Federal Reserve doesn't think so - prompting us to determine how we might hedge against it, or benefit from rising prices. Witness higher prices everywhere: at the grocery for meat and coffee, at the gasoline pump, rents, even health care. Invest in companies that benefit from rising prices, such as exchange-traded funds Market Vectors Agribusiness ETF (MOO) that correspond to the price and yield of the Market Vectors Global Agribusiness Index.
BUSINESS
May 31, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
The underfunded Pennsylvania Public School Employees Retirement System has deleted contracts with "alternative investment" funds - that invest billions of dollars in teachers' retirement money - from the website of the state's Treasury Department . The decision to no longer make the contracts available for public scrutiny was confirmed Thursday by Evelyn Tatkovski , a spokeswoman for PSERS. I had asked PSERS about claims by Susan Webber , the New York financial consultant who runs the caustic website NakedCapitalism.com , that the posted documents had created a "Snowden moment.
NEWS
May 30, 2014 | By Andrew Seidman, Inquirer Trenton Bureau
The New Jersey Treasury Department's chief auditor is reviewing whether it violated the state's pay-to-play restrictions when it invested $15 million with a venture-capital firm tied to a Massachusetts gubernatorial candidate who had donated to the New Jersey Republican State Committee months earlier. The review was disclosed as New Jersey's State Investment Council met Wednesday to consider new "alternative investments" for the state's $76.76 billion pension fund. Charles Baker, an executive-in-residence at General Catalyst Partners, who is vying for the GOP nomination in Massachusetts' governor's race, contributed $10,000 to the New Jersey GOP in May 2011.
BUSINESS
May 27, 2014 | By Erin E. Arvedlund, Inquirer Columnist
FormDs.com helps keep tabs on growing businesses, hedge funds, and private-equity firms. One shop we noticed on its radar is Hirtle, Callaghan & Co., the West Conshohocken investment advisory firm that pioneered the "outsourced chief investment officer. " Hirtle Callaghan supervises $24 billion for families, endowments, foundations, pension funds, and health-care organizations. Rather than pick stocks, it picks portfolio managers and allocates capital. Jonathan J. Hirtle, cofounder and chief executive officer, confirmed that his shop has a number of new vehicles, such as Hirtle Callaghan Special Opportunities SPC Closed-End Segregated Portfolio.
NEWS
May 22, 2014 | By Kevin Riordan, Inquirer Columnist
A chance encounter in the aisles of his supermarket led ShopRite owner David Zallie to donate $25,000 to the Lawnside Education Foundation. Zallie already had been introduced to foundation president Sandra Strothers when they "bumped into each other while she was shopping during the holidays," he said. "We said, 'Let's make it a point to meet.' " They did. The result - celebrated during a ceremony Tuesday at the Lawnside Public School - fulfills the private, nonprofit foundation's inaugural fund-raising goal of $50,000.
BUSINESS
May 12, 2014 | By Christine Bahls, For The Inquirer
With tongue halfway in cheek, those of us who expect to work until we die have this consolation: no need to sort through the many "financial products" aimed at helping us cover our needs to the very end. But for those of us who plan to retire and have a nest egg stashed away, what's the best way to use it - and not lose it - to augment a pension or Social Security? For risk-averse people five to 15 years away from retirement, many financial experts say, the closest thing to a strategy largely immune to the ups and downs of the stock market is to put a chunk of that nest egg into something called a fixed index annuity.
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.
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