September 19, 2014 |
An investigation into an unsuccessful investment by the Pennsylvania State Employees' Retirement System (SERS) has "found no evidence of illegality" by Anthony Clark, the system's former chief investment officer, who persuaded the system to pump $250 million into Tiger Management Advisors as the first step in a planned hedge fund strategy. "Whether Clark intentionally misled the board by seeking to conceal Tiger's poor performance is open to question," the investigator, former acting state attorney general Walter Cohen, added in his two-page note to the board summarizing his findings.
September 18, 2014
T ESS MICHAELS, 20, of University City, is a social entrepreneur and a Penn senior pursuing a dual degree in management and life sciences. The Philly native is the founder and CEO of Soceana, a startup that launched in January with tech-enabled platforms to generate social good. Q: How'd you come up with the idea for Soceana? A: I volunteered a lot in high school and saw a need for a unique approach. At Wharton, I found that the corporate space was an effective way to bridge volunteerism with philanthropy.
September 17, 2014 |
I WON'T exaggerate and claim that if the Union beats Seattle tonight at PPL Park and captures the Lamar Hunt U.S. Open Cup, it will be as big as if it makes the playoffs and wins the MLS championship. The MLS Cup is the ultimate goal of professional soccer in the United States. It is this sport's equivalent of winning the Super Bowl, World Series, Stanley Cup or NBA Finals. In comparison, winning the Open Cup would be like winning the . . . well, there is no real equivalent in any other U.S. professional sport.
September 16, 2014 |
If you are unhappy with fees charged by active money managers, stop paying them. Low-cost index funds track the stock market, say Mitch Tuchman and Charley Ellis at ReBalance IRA. "There hasn't been a five-year period in over six decades when a 50-50 stock-and-bond portfolio has not shown a positive return," said Tuchman, of Palo Alto, Calif. "If you own markets through indexing, your portfolio always recovers in a correction. There is a way to really win at this game - by playing not to lose.
September 10, 2014 |
It's the stuff of reality television: a Battle of the Port Titans. Two prominent marine-terminal operators with big stakes in the Delaware River each want to manage and control some of the 200 acres known as Southport, at the eastern end of the Navy Yard, south of the Walt Whitman Bridge. Vying for the millions of dollars in business opportunities that could result: John Brown Jr., president of Penn Warehousing and Distribution Inc., a paper-import company that operates from Piers 38 and 40 and 78 and 80, who also runs Murphy Marine Services at the Port of Wilmington; and the Holt family, whose companies operate the Packer Avenue Marine Terminal and Gloucester Terminals L.L.C.
September 4, 2014 |
The Philadelphia event that Joseph F. Callan loved most was one he didn't organize: Since he was a child, he had participated in the Froggy Carr Mummers. "He said once a year he did not want to plan an event but wanted to walk in the parade," colleague Jim Marino remembered. Mr. Callan, special-events manager for Fairmount Park, died on Wednesday, Aug. 27, at age 60. He was born in Philadelphia, attended Sacred Heart Grade School followed by St. John Neumann High School, from which he graduated in 1972.
September 2, 2014
Sue Aistrop has been promoted to director of community services and RSVP/Philadelphia at Klein JCC in Northeast Philadelphia. She had been hunger-relief volunteer coordinator. AIM Academy , Conshohocken, has named Allison Enslein head of the Lower School and Edward Gallagher head of the Middle School. Enslein formerly was head of school at the Center School in Abington; Gallagher was assistant Upper School dean at Girard College. YMCA of Burlington and Camden Counties , Mount Laurel, has named Dana Collins vice president-operations and Valeria Galarza vice president-strategic expansion.
September 1, 2014 |
This Labor Day weekend, let's consider that excellent and endangered worker benefit, the guaranteed retirement pension. Let's look at the New Jersey state pension system , which more than 750,000 schoolteachers, troopers, and other public servants are counting on to keep them comfortable through their golden decades. The problem with this happy arrangement is that the politicians who promised - and who also collect - state pensions haven't set aside money to pay them all. New Jersey's pension funds have about $80 billion to pay at least $120 billion in future checks.
August 29, 2014 |
LAST MONTH, it was Ryan Howard who was upset when his name was missing from the Phillies' starting lineup for three straight games. Two weeks ago, it was Kyle Kendrick, ticked that he was given what he thought was an early hook in San Francisco. In spring training, Jimmy Rollins and Ryne Sandberg had to speak after the manager gave the franchise shortstop an oddly timed break from regular playing time in the middle of March. Over the weekend, rookie righthander David Buchanan and struggling leftfielder Domonic Brown both made subtle criticisms of their manager (only to take them back a day later)
August 29, 2014 |
Thomas Poole, 55, of Moorestown, sports fields manager for Moorestown Township for 27 years and a former assistant chief of its volunteer fire department, died of pneumonia Sunday, Aug. 24, at Virtua Voorhees hospital. Mr. Poole grew up in Cherry Hill and graduated in 1977 from Cherry Hill High School East. Though the school did not have a hockey team, Mr. Poole "was an ice hockey player for years and years," his wife, Patricia, said. "He really enjoyed that" - even though in later years, she said, "it was old guys getting together at 4 o'clock in the morning," the only hour when a hockey rink would have time available.