April 24, 2012 |
Resolving the most quarrelsome aspect of its bankruptcy, the Philadelphia Orchestra Association has settled with the national musicians' pension fund that had threatened expensive and time-consuming litigation over the orchestra's withdrawal from the fund. The American Federation of Musicians and Employers' Pension Fund (AFM-EPF), which had filed a $35 million claim in the case, will drop all its legal challenges in exchange for $1.75 million from the orchestra. The development allows the orchestra to approach bankruptcy Judge Eric L. Frank with an uncontested reorganization plan, which means - if the orchestra can wrap up talks with the Kimmel Center over a new lease - that it could be out of bankruptcy within 90 days.
August 2, 2007 |
Some were veteran customers, some were tourists or conventioneers, and some just wanted to be there on the day Rick Olivieri cooked his last steak sandwich at Reading Terminal Market. But that day wasn't yesterday and probably won't be today. The stalemate between Olivieri and management of Reading Terminal Market remained yesterday with Olivieri doing a booming first day of business without a lease, and market officials letting him be while starting the legal eviction process and waiting for the next move in Olivieri's lawsuit against them.
September 16, 2008 |
The voice of experience Yankees catcher Jorge Posada said yesterday that Joba Chamberlain should stay in the New York bullpen for the foreseeable future to avoid the kind of injury that has sidelined Posada for a month this season. Posada, recovering from season-ending surgery to repair his right shoulder, made the comments on the Yankees Entertainment & Sports Network. "Leave him in the bullpen," Posada told interviewers. "You're going to lose him because he's going to get hurt.
October 23, 1996 |
The rent shot up from $1 to $57,600 a year. The district residents started asking questions. "Who's accountable for representing [the interests of] the taxpayers of Bristol Township?" Larry Raffle, school board treasurer, asked at a board meeting Monday as he questioned the lease expense. He and other residents asked why the district has been shelling out five figures a year since 1990 for 18,000 square feet of storage space in the basement of the old Delhaas High School. The Bristol Township School District closed the high school in 1981, shortly after district enrollment started to plummet.
June 27, 1995 |
Two days after winning the Stanley Cup, the New Jersey Devils took another legal step to break their lease and clear the way for a possible move, perhaps to Nashville, Tenn., after the 1996-97 season. However, even though the Devils yesterday notified the New Jersey Sports and Exposition Authority of their intent to end their franchise agreement in two years, that doesn't necessarily mean the team will be leaving. Devils president and general manager Lou Lamoriello said the team is continuing to negotiate with the sports authority on a new lease.
October 27, 1995 |
Philadelphia taxpayers stand to benefit in a big way from the glut in empty Center City office space. And even bigger savings might be on the way in a few years. The Rendell administration has a deal to cut its rent by 80 percent at the old INA building, 16th and Arch, in a three-year extension of its lease. The deal could be a prelude to an even bigger one expected next spring - when the city hopes to buy or lease a Center City building to consolidate its rental space, which now costs taxpayers more than $21 million a year.
January 26, 1994 |
The Philadelphia Housing Authority has proposed a new lease for its 80,000 tenants that would require security deposits and fees for late payment of rent while enabling the authority to evict tenants convicted of drug dealing, weapons offenses and other criminal activity. John F. White Jr., PHA's executive director, told the authority board at its regular monthly meeting yesterday that he hoped to have the document ready for a final board vote in April. "Assuming all goes well, it will represent the first time in a very long time that we have an enforceable lease," White said.
September 5, 1993 |
Crushed under stacks of files and crammed into cubbyholes, county court employees have run out of office space. To give them more elbow room, the county commissioners overcame their reservations about landlord Vahan H. Gureghian and voted unanimously Thursday to renew a lease on the Benson Building. Several departments, including the 66-employee, badly cramped Domestic Relations Office, will move there. The lease will cost the county $1.7 million over the next seven years, on a building appraised at about $800,000 in 1985.
September 8, 1986 |
The Narberth Post Office is about to receive an eviction notice, appropriately enough, in the mail. "They're going to get a letter telling them they're in default of the lease, and to get out," Peter Stevens, a sales representative for the Coldwell Banker real estate firm, said Friday. On Aug. 31, the Postal Service's lease on the building, at 144 N. Narberth Ave., expired. The post office has been searching for months to find a building with 8,000 square feet. The present building has half that amount of space.
May 28, 1990 |
Kraft Dairy Group has signed a lease for 70,000 square feet for a headquarters office at Seven Penn Center, the former IBM Building at 17th and Market Streets. The group, which makes Sealtest and Breakstone products, signed a 10-year lease valued at $13 million. Kraft plans to move to the building, recently renovated by MSK Associates, from 1880 JFK Blvd. this fall. The new lease makes Seven Penn Center 92 percent leased, said the Binswanger Co. which manages and leases the building.