April 10, 2012 |
Delphi Financial Group Inc., a Wilmington insurance company, announced Monday a $49 million settlement with stockholders who alleged that the pending $2.7 billion sale of the company to Tokio Marine Holdings Inc. had an unfair premium for Delphi founder Robert Rosenkranz. Shareholders approved the sale, announced Dec. 21, last month. It is expected to close by the end of June. Most shareholders, owners of Class A shares, will receive $43.88 per share, plus a $1 per share special dividend.
March 6, 2012
President Obama said Tuesday that homeowners with FHA-insured mortgages endorsed on or before May 31, 2009, who choose to refinance their loans to record low rates would see upfront and annual premiums reduced when they do. Effective for existing FHA loans refinanced starting June 11, the upfront premium will fall from 1 percent to 0.01 percent of the base loan amount, FHA acting commissioner Carol Galante said. The annual premium will decline to 0.55 percent. Last week, Federal housing Administration announced premium increases for new loans, beginning April 1. To take advantage of this streamlined refinancing program, borrowers must be current on their mortgages, she said.
December 25, 1994 |
A NEW CULTURAL REVOLUTION IS TAKING PLACE IN CHINA The mechanical Santa Claus outside Beijing's Yansha Department Store wagged his head and bade the world a merry "Ho, ho, ho. " He had plenty to be cheerful about in the Chinese capital this festive season. "Old Man Christmas," as Santa is known in China, and his reindeer have dashed into millions of Chinese shops and homes. Where Red once stood for Revolution in China, at this time of year it's Red for Rudolph. "Christmas is becoming more important than Spring Festival," said Lao Cuifang, a 32-year-old boutique saleswoman in Shanghai.
July 26, 1987 |
President Reagan said yesterday that a Democratic plan for covering the costs of catastrophic illnesses would "impose a new tax on the elderly and soon threaten to bankrupt" the Medicare system. In his weekly radio address, which was his first response to the bill passed Wednesday night by the House, Reagan criticized the plan for requiring better-off Medicare recipients to pay an additional premium for expanded coverage. He said such a "tax" would mean an increase in marginal tax rates of 25 percent by 1992 for elderly people with incomes between $6,000 and $14,166 a year.
August 29, 1989 |
By enacting the Medicare Catastrophic Coverage Act (CAT) last year, Congress ostentatiously strived to reflect their seemingly conscious exertion of power to legislate just laws, homogenized with human and sincere efforts, by alleviating the awesome intolerable cost of maintaining adequate health care. However, this disguise unravels to expose one of the most vicious, inhumane laws Congress ever passed. The closest comparison to this heinous act was the odious 1986 Tax Reform Act. For starters, CAT does not address long-term custodial nursing home care.
September 21, 1994 |
Think back to the first time you ever noticed the bread you were served in a restaurant. Chances are, it caught your attention because someone at the table remarked, "Have some bread. It's hot. " For decades, temperature was the only factor that distinguished one restaurant's bread from another. But today's bread basket is more likely to hold something haute rather than hot. In many places, the familiar plain white has been replaced by fat, herb- studded breadsticks; grilled homemade pita; multi-grain slices; rolls flecked with raisins or bits of olive; jalapeno corn muffins; or focaccias with assorted toppings.
September 13, 2009 |
In his speech Wednesday, President Obama outlined a set of health-care goals he supports - including a mandate that everyone have health insurance and the addition of a public health-insurance alternative for the uninsured. But there is no single Obama overhaul bill yet. In varying forms, several of his proposals are included in three measures in the works in Congress: the House tri-committee bill; the Senate HELP (Health, Education, Labor, and Pensions) committee bill; and the Senate Finance Committee bill, still in draft form.
January 25, 2003 |
For 50 years, the Philadelphia Trading Post has been a West Philadelphia landmark, buying from and selling to college students, working-class families, and others living in such neighborhoods as Powelton Village and University City. Until her death in April, the driving force behind it was Esther Goodman, who also found time to raise a family that grew up in the business. Her daughter, Gail Arana, still runs the family emporium at 4023-25 Market St. And starting at 8 a.m. today, Goodman's son, Lyle C. Arana, a licensed auctioneer who until now has operated in the Reading-Allentown area, will conduct the first of what he hopes will be monthly or bimonthly auctions.
April 5, 2002 |
PHILADELPHIA'S politicians are now engaged in a long-overdue public debate on the level and structure of city taxes. But the ability to have an open and honest discussion of tax levels is being clouded by the numbers used. The mayor talks about $70 million as the cost to the city of a wage-tax cut, while saying that the cut returns only 50 cents a week to the average citizen. We are supposed to see this as a big loss for the city with little gain for its residents. But Mayor Street exaggerates by comparing one week's benefits to five years of tax losses.
November 25, 1988 |
President-elect George Bush may seek to reduce the federal budget deficit by trimming Medicare costs, the Washington Post reported today. It quoted some unidentified Bush advisers and budget experts as saying the new administration would support substantial cuts of between $3.5 billion and $5 billion for fiscal 1990. The Post quoted the experts as saying any suggested cuts, at least initially, were not likely to involve drastic changes in the $80 billion program. Initial cuts would, more likely, be based on the Reagan administration's budget proposal for fiscal 1990 being prepared for submission to Congress, the newspaper reported.