November 18, 1986 |
Freeholder Joseph J. Milano agreed yesterday to call off his six-week-old feud with the Camden County sewerage authority and cast the deciding vote for the expansion of the regional sewer system. Milano, a maverick Democrat who joined with the three Republican freeholders in stalling a $39 million loan for the Camden County Municipal Utilities Authority (CCMUA), decided to switch his position after a late afternoon meeting with authority officials Herman B. Engelbert and Moses Jackson.
November 5, 1989 |
The Yardley Borough Council will hold a public hearing before deciding whether to guarantee a $1.8 million loan to pay for the recent expansion of a waste-water treatment plant. In a unanimous 7-0 vote, the council declined the Morrisville Sewer Authority's "push to make a hasty decision" Wednesday night and scheduled a public hearing instead. The council did vote to advertise an ordinance to guarantee the loan. "Just because we have voted to advertise the proposed ordinance does not guarantee that we will pass it. But it does provide us with some time to make sense of all of this," council President Susan Taylor said.
January 24, 1986 |
Ronald Rubin is more than a year behind in interest payments on $18 million he borrowed from eight local banks to renovate the Bellevue Stratford, the Daily News has learned. But it is not clear whether Rubin's difficulties forced his announcement Tuesday that the hotel would close Feb. 2. Rubin is general partner of Rubin Associates, which owns 51 percent of the hotel. Judith Morse, Rubin's sister and a spokeswoman for Rubin Associates, said the hotel was closed because it was losing money.
June 21, 1995 |
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.
February 26, 2013 |
A North Jersey mobster, who admitted to participating in the affairs of Philadelphia's La Cosa Nostra, was sentenced today to a 55 month term in federal prison. Louis "Big Lou" Fazzini, 45, pleaded guilty in October to a racketeering conspiracy charge linked to a mob-controlled gambling and loan-sharking operation. A self-described "made" member of the mob, Fazzini, of Caldwell, operated a sports bookmaking business and ran a social club in northern New Jersey where illegal gambling on card and dice games occurred regularly.
June 14, 2013
A 37-year-old South Jersey man pleaded guilty Thursday to loan sharking on behalf of the Philadelphia mob, federal prosecutors said. Robert Ranieri, of Glendora, admitted that he conspired with Philadelphia mobster Anthony Staino and others to make a usurious loan to an undercover FBI agent and then threatened violence to collect on the loan, according to federal prosecutors. Ranieri's sentencing hearing is scheduled for Sept. 25 and he faces a maximum 40 years in prison. - Robert Moran
June 1, 2010
The Pennsylvania Industrial Development Authority approved a $1.5 million, 15-year loan at 3.75 percent to Liberty Coating Co. L.L.C., a Morrisville company that applies anti-corrosion coatings to pipes used by the natural gas, oil, petrochemical, and water and wastewater industries. - Harold Brubaker
April 23, 2012 |
A three-year, $66.2 million construction loan has been arranged through Wells Fargo Bank for Pearl Properties' Granary luxury multifamily project at 20th and Callowhill Streets in Philadelphia. The loan was arranged by the New Jersey office of commercial real estate adviser HFF Inc., which announced the financing. When completed in 2013, the Granary will have 227 one- and two-bedroom apartments averaging 842 square feet each, 20,654 square feet of ground-level retail space and underground parking.
June 19, 2013
BAD NEWS for Pennsylvania: The payday-lending industry, which we warned early this spring was making a return to the halls of Harrisburg, trying to gain entry into the state and thus the bank accounts of residents, is making progress. Predatory loans - characterized by high fees and interest rates, as well as a tendency for lenders to ensure repayment by gaining access to a borrower's bank account, rather than considering his ability to repay - are not currently allowed in Pennsylvania.
October 25, 1994 |
The cavalry has arrived. National Media Corp., the financially troubled producer of infomercials, is getting a $5 million loan from venture capitalist Warren V. Musser. Musser's Safeguard Scientifics, a Wayne capital-investment company, will extend the five-year loan to National Media, which lost $8.7 million in its latest fiscal year. About $3.1 million will be used to pay off an existing loan and the rest will be working capital, National Media said. The loan comes less than two months after National Media's hiring of president Mark P. Hershhorn and the resignation of chairman John Turchi, who was succeeded by a board member, Brian McAdams.