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BUSINESS
May 5, 2016 | By Joseph N. DiStefano, Staff Writer
Private-equity investors, excited by the growth and merger prospects in security, are combining the nation's largest security-guard services into a single, giant company. In the merger, announced Tuesday, AlliedBarton Security Services, the Conshohocken company that employs 60,000 contract security guards nationwide, plans to merge with Universal Services of America, a Santa Ana, Calif., rival with 80,000 workers (including janitors and security guards), later this year. The combined AlliedUniversal will have sales of $4.5 billion a year.
BUSINESS
February 11, 2006 | By Todd Mason INQUIRER STAFF WRITER
Investors who sued the federal government in 1993 for breaking its promises in its seizure of Meritor Savings Bank won a judgment yesterday of $371.7 million, but it could be several more years before they see the money. U.S. Claims Court Judge Loren A. Smith wrote that Meritor investors have strong arguments to receive an additional $402 million, but said he would leave that question to an appeal of his award. Justice Department spokesman Charles Miller said the government was still reviewing the decision, and hasn't decided how to respond.
NEWS
August 5, 2011 | By Andrew Maykuth, INQUIRER STAFF WRITER
Many financial advisors have the same advice for nervous investors unhinged by the stock market's wild mood swings in recent days: Take a deep breath. Come in off the ledge. Don't panic. "The worst thing somebody can do is to sell into a panic," said Alexander F. Cabot, an analyst for the Wiley Group, a Conshohocken wealth advisory firm. Thursday's 500-point Dow plunge, followed by Friday's whipsaw ride between positive and negative territory, might induce the risk-averse to head for the exits.
NEWS
January 27, 1989 | By David Johnston, Inquirer Staff Writer
After months of uncertainty about the future of the money-losing Claridge Hotel & Casino, it appeared yesterday that buyers with sufficiently deep pockets and a willingness to risk what's in them will buy the gambling hall. Al Luciani, who as a state assistant attorney general drafted the New Jersey Casino Control Act, said he and four investors have an exclusive agreement, good for the next two weeks, to negotiate for the purchase of the Claridge. Luciani said he is confident a definitive agreement can be negotiated "in a few days.
NEWS
December 20, 2012
WHEN INVESTING, it's smart to seek out companies with competitive advantages. But you can develop your own competitive advantage over other investors by reading. Here are two highly regarded classics for your own bookshelf or for holiday-gift-giving consideration: *  One Up on Wall Street by Peter Lynch (Simon & Schuster, $16). Arguably the most engaging investment book ever written. If you've never read it, stop everything and pick up a copy. It could change your life. Advocating buying great companies for the long term, Lynch believes that "any normal person using the customary 3 percent of the brain can pick stocks just as well, if not better than the average Wall Street analyst.
NEWS
June 24, 2008 | By Troy Graham INQUIRER STAFF WRITER
A Haddon Heights man pleaded guilty in federal court in Camden yesterday to scamming millions from investors who believed his company had a government defense contract to ship military equipment overseas. Instead, prosecutors said, Glyn Richards was operating a classic Ponzi scheme, in which investors were promised quick returns on their money. Richards told people who invested in his Audubon company, All Freight Logistics, that they would receive a 44 percent return within a few months, according to court records.
REAL_ESTATE
January 17, 1988 | By Charles V. Zehren, Inquirer Staff Writer
Real estate investors are increasingly ignoring Groucho Marx's dictum that it's not worth joining any club that would have you as a member. In fact, interest in real estate investing clubs is on the rise, leaders of area groups said last week. The clubs have been around for years, hitting peak popularity in the early to mid-1980s, when disciples of such real estate gurus as Albert Lowry and Robert Allen regularly gathered to worship before the no-money-down altar. But the flock has dwindled over the last two years, as the prophets fell from financial grace amid much bad press, said Richard R. Hamilton, president of the Indiana Real Estate Club and director of properties for Mark O. Haroldsen Inc. of Salt Lake City, which advises clubs all over the country.
NEWS
October 17, 1989 | By Janet L. Fix and Glenn Burkins, Inquirer Staff Writers Inquirer staff writer Barbara Demick contributed to this article
Whether wary of making the wrong move or weary of market uncertainty, small investors seemed to sit tight yesterday and wait out what some had feared would be the Black Monday of 1989. It was a shrewd move. History did not repeat itself. Rather than dropping 508 points as it had on Oct. 19, 1987, the Dow Jones industrial average, after taking an early-morning plunge, rose 88.12 points by the time the bell ended trading in the stock market. Retail brokers had feared that a nasty nose dive yesterday and memories of the market's erratic behavior in the year after the 1987 crash would destroy any chance they had of wooing small investors back to the market.
NEWS
December 4, 2000
Today, fewer than half of the 60 million employees with long-term investment accounts have held them 10 or more years. Over the next decade, another 30 million will reach that level. Seen in that light, the 2000 election was a mere breaker to a looming tidal wave of investor sentiment.. . . Compared to participants in work-based plans, portfolio owners with individual stocks develop a capitalist ideology rapidly. [The Zogby poll] found that this cohort, after one to five years, is already 43 percent Republican (vs. 34 percent Democrat)
NEWS
February 11, 1999 | By S. Joseph Hagenmayer, INQUIRER SUBURBAN STAFF
Morton Mitosky, 91, a Philadelphia lawyer known for his ability to pick financially successful Broadway shows for himself and other investors, died Friday at Cabrini Hospital Hospice in Manhattan of complications from a 1997 stroke. He had lived in Ventnor, N.J., for nearly 30 years and also had a residence in Manhattan. As a lawyer, he maintained offices in Philadelphia and New York for many years. Mr. Mitosky remained active in theater investments, as well as several Hollywood projects, until his stroke.
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ARTICLES BY DATE
BUSINESS
May 16, 2016 | By Erin E. Arvedlund, Staff Writer
Will robo-advisers fully replace human financial advisers, because they're cheaper and more efficient? No way. And those who think so misunderstand what financial advisers do. "My clients pay me for advice, a holistic financial and retirement plan," as well as referrals to experts in trust and estate planning, said Michael Kitces, who runs a financial planning firm and follows the robo-adviser field. He's a huge fan of robos, which offer automated portfolio management, as well as automatic saving and investing and cutting-edge adviser software.
BUSINESS
May 13, 2016 | By Erin Arvedlund, Staff Writer
On Monday, a new type of crowdfunding will become legal, and the public can begin buying shares or debt in private companies. But will Philadelphia start-ups and local entrepreneurs raise big money through crowdfunding? If this past week's Angel Capital Association convention is any indication, probably not right away. Sebastian Gomez Abero of the Securities and Exchange Commission's Office of Small Business Policy addressed the angel-investor crowd Wednesday, and as one of the authors of regulation for crowdfunding, sought to clarify for investors and issuing entrepreneurs the rules on this new type of financing.
BUSINESS
May 5, 2016 | By Joseph N. DiStefano, Staff Writer
Private-equity investors, excited by the growth and merger prospects in security, are combining the nation's largest security-guard services into a single, giant company. In the merger, announced Tuesday, AlliedBarton Security Services, the Conshohocken company that employs 60,000 contract security guards nationwide, plans to merge with Universal Services of America, a Santa Ana, Calif., rival with 80,000 workers (including janitors and security guards), later this year. The combined AlliedUniversal will have sales of $4.5 billion a year.
NEWS
May 4, 2016 | By Jacob Adelman, STAFF WRITER
Philadelphia-based Hersha Hospitality Trust has closed on the sale of seven New York City hotels to a joint venture between itself and Cindat Capital Management Ltd. of China in a deal that values the properties at $571.4 million. The hotels encompass 1,087 guest rooms and include Holiday Inn Express, Candlewood Suites and Hampton Inn properties around Times Square and other parts of Manhattan, Hersha said in a release Monday. The transaction grants Cindat, backed by investors including China Cinda Asset Management Co. and Taikang Life Insurance, a 70 percent ownership stake in the properties, with Hersha retaining a 30 percent equity interest.
NEWS
March 19, 2016 | By Jacob Adelman, STAFF WRITER
The New Orleans-based developer that is helping to renovate the Liberty Title building at 101 N. Broad St. into a 179-room hotel has received a $50 million investment from Almanac Realty Investors of New York. HRI Properties L.L.C. said in a statement on Thursday that the new investment followed a previous $150 million commitment from Almanac that has already been spent on projects. HRI is working with Realen Properties of Berwyn to convert the 1920s Liberty Title building into a hotel under Starwood Hotels & Resorts' Aloft banner, with completion expected in spring 2017.
BUSINESS
March 10, 2016 | By Linda Loyd, Staff Writer
Two hedge funds with a combined 7.1 percent stake in United Airlines want to shake up the airline's board of directors, adding six of their own candidates, including former Continental Airlines CEO Gordon M. Bethune. PAR Capital Management and Altimeter Capital Management, which are both based in Boston, went public Tuesday with their slate, led by Bethune to become board chairman. The move came one day after United on Monday named three new independent directors, and pledged to name a fourth soon, after "heated discussions with PAR and Altimeter that apparently ended in a stalemate," Vicki Bryan, credit analyst at research firm Gimme Credit, said in a client note.
BUSINESS
March 1, 2016
CenterSquare Investment Management focuses on "real assets" such as real estate and infrastructure (think utilities, telecommunications towers, and airports). This $8.2 billion firm is a quiet giant with headquarters in Plymouth Meeting. It runs money mostly for institutions, but there are ways to invest with CenterSquare through listed mutual funds. For instance, CenterSquare is contracted to run the Dreyfus Global Infrastructure Fund and the Dreyfus Global Real Estate Securities Fund.
BUSINESS
February 22, 2016 | By Erin Arvedlund, Staff Writer
In choosing a money manager, one key issue comes down to this: Would you rather have a human or a computer run your money? Last year, many investors voted for the computer, pulling money from "active" money managers who tried to pick individual stocks but failed to beat the market. Instead, investors piled money into "passive" funds that follow a benchmark, such as the S&P 500 index. Or they used "robo-advisers" - strict computer investing models or exchange-traded funds that track a specific group of shares.
BUSINESS
February 21, 2016
When they want to raise money for public projects without boosting taxes up front, states and local governments rely on investors who want steady, tax-protected income. They sell them municipal bonds. Low rates haven't worn out investors' patience: The 3 percent that muni-bond indexes returned last year beat the big U.S. stock indexes. "The benefit of tax exemption in a relatively high-tax environment" also makes munis popular, says Alan Schankel , managing director and municipal strategist at Janney Montgomery Scott in Philadelphia.
NEWS
February 16, 2016
ISSUE | INVESTING Nest egg protection As difficult as it is for families to ensure a secure future in these tough times, the last thing you should have to worry about is whether your financial adviser is looking to increase his or her profits at your expense. A loophole in federal law allows financial advisers to do just that, and some have recommended investments carrying higher fees, riskier features, and lower returns to further their gains. This loophole has cost Americans at least $17 billion per year, as much as 25 pertcent of retirement income, or five years' worth of savings.
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