May 13, 2014 |
Herb Hauls grew up far from environmental nirvana, in an asphalt-heavy North Philadelphia neighborhood where buses and cars junked up the air and blades of grass were few. He earned a degree in electrical engineering at Drexel University, working first at Peco Energy Co. and then for the Navy in ship acquisitions, overseeing vessels' electric plants and control systems. He cleared six figures last year, he said. Now, he's mowing lawns for a living. This is not an act of desperation.
April 7, 2014 |
CHICAGO - It was Ryne Sandberg's first chance to have an umpire's call reversed, but the Phillies manager declined. With runners at first and second and one out in the top of the fourth inning, catcher Wil Nieves hit a grounder at Mike Olt that was a tailor-made double play for the Chicago Cubs third baseman. He fielded it cleanly, moved toward the bag at third, and threw over to first for the final out of the inning. Chicago left the field. The Phillies took the field. Cliff Lee started warming up. And then Sandberg emerged from the visitors' dugout for a conversation with third-base umpire Hal Gibson, who assured the manager that Olt had pushed off the bag to start the double play.
April 6, 2014 |
Philadelphia will lose more than 600 jobs when homegrown Destination Maternity Corp. leaves its headquarters at Fifth and Spring Garden Streets for South Jersey. But unlike other gloomy portraits of corporations defecting to the suburbs, this one may have a silver lining for the city. Diverse proposals are emerging to buy the retailer's headquarters and distribution complex, a colossal parcel of nearly eight acres in an industrial-zoned enclave that has changed little as neighboring Old City and Northern Liberties grew into upscale residential communities over the last two decades.
April 1, 2014 |
If you're a fan of buying low and selling high, then some (but not all) markets outside the U.S. might represent value for your portfolio. We interviewed Mebane Faber (his first name is Scottish, pronounced "meb-bin"), a portfolio manager running about $350 million in assets. His firm recently launched a new exchange-traded fund called the Cambria Global Value ETF (GVAL). This fund invests in roughly 100 stocks in the world's most undervalued markets, and Faber says those are - brace yourselves - Greece, Russia, Hungary, Ireland, Spain, Czech Republic, Italy, and Portugal.
March 25, 2014
IF YOU are a business in Pennsylvania, you can live in a tax paradise without having to move to the Cayman Islands. In some cases, you just have to move across town. In 1998, in order to stimulate job growth, the Legislature created a device called Keystone Opportunity Zones - areas where businesses could move and pay virtually no state and local business taxes for 15 years. Philadelphia has a number of KOZs - the Cira Centre and the Naval Yard, to name just two - where businesses have clustered.
March 23, 2014 |
VOORHEES Last year's passage of the Economic Opportunity Act rejiggered the formula to give South Jersey access to grants and tax incentives to lure businesses and investors - development carrots that the more heavily populated northern end of the state previously held claim to. Six months after the measure became law, many say the ripple effect is already being felt regionally. Among them are officials in Camden County and those as far south as Cumberland and Salem Counties who gathered Friday in Voorhees.
March 21, 2014 |
Under Pennsylvania's Keystone Opportunity Zone Program, 617 businesses received city tax credits worth $384.7 million from 1999 through 2012, according to a report released Wednesday by Philadelphia City Controller Alan Butkovitz. But 424 of those firms were partnerships or limited liability companies that had no employees paying wage taxes - the main short-term payoff for Philadelphia under the KOZ program, which virtually eliminates state and local business taxes for companies that move into underdeveloped, desolate areas.
March 16, 2014 |
Campus Philly was created in 2000 amid hand-wringing over the Philadelphia region's bumper crop of college graduates leaving the area, diplomas packed in their suitcases. Then, the organization's job was to sell the city to students in the hope that they would stay. With the city's popularity growing among young people, that sale has been made, said Deborah Diamond, the organization's president. Now, she said, the 392,491 students enrolled in 101 area colleges are asking, "How can I stay here?
March 14, 2014 |
JARVIS VARNADO, like a lot of players on the 76ers roster, is a man of few words. But when approached by reporters to talk about signing a new contract with the team, the reserved big man couldn't help but break out into a huge smile. Varnado said Tuesday's deal will keep him here this season and then two non-guaranteed seasons after that. "This is a great opportunity for me to stick my name in this league and coach is giving me an opportunity to play so I just have to take advantage of it," Varnado said yesterday.
February 21, 2014 |
IT'S YOUR last chance, America. Surely that's what NHL commissioner Gary Bettman implied this week and again yesterday morning on NBC. Four years from now, should the United States Olympic hockey team square off against Canada in a medal-deciding game, you will need to be a fan of college hockey or junior hockey to recognize any of the names. Or to care. So this is it. High noon today here, 9 p.m. Sochi time. A team of America's best NHL players against a team of Canada's best NHL players meeting in a knockout game for the second Olympics in a row, the third time in four Games.