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NEWS
March 8, 2013 | BY JAN RANSOM, Daily News Staff Writer ransomj@phillynews.com, 215-854-5218
CITY COUNCIL President Darrell Clarke will introduce a package of bills Thursday aimed at getting publicly owned, vacant and tax-delinquent properties back into the city's tax coffers. Clarke hopes the measures will help ease the tax burden by generating additional dollars so Council can keep the tax rate low as the city moves to a new property-tax system based on market values, the Actual Value Initiative. There are 40,000 vacant properties in the city, a quarter of them city-owned.
BUSINESS
March 6, 2013 | By Linda Loyd, Inquirer Staff Writer
Shares of Delta Air Lines rose 5 percent after the carrier said Monday that it expected a second-quarter profit of $75 million to $100 million at its oil refinery in Trainer. Delta also said the current quarter would be the airline's first profitable March quarter since 2000. "Running an oil refinery, much like running an airline, is not for the faint of heart," Delta president Edward Bastian told a JPMorgan conference. He said operational issues kept the refinery at 75 percent capacity in January and February.
SPORTS
March 6, 2013 | By Nick Carroll, Inquirer Staff Writer
After practice, Eagles defensive tackle Ronnie Cameron often sits hunched over in his locker with his laptop. Often, one or two of his teammates will ask him what he is doing. Many use their time after workouts to hang out with their families or play video games. Cameron, 6-foot-2, 295 pounds, started a website. Cameron was acquired as a free agent by the Eagles in December and joined the practice squad. He was originally signed in April as an undrafted free agent by the Chicago Bears.
NEWS
February 28, 2013
Net income rose 53 percent in the fourth quarter for Globus Medical Inc., an Audubon maker of spinal implants, while sales increased by 14 percent. Globus, which went public in August, earned $20.8 million, or 22 cents per share, on sales of $100.5 million for the three months ended Dec. 31. For the fourth quarter of 2011, the medical device company reported net income of $13.6 million, or 15 cents per share, on sales of $88.0 million. The company announced its results after the stock market had closed Wednesday.
NEWS
February 28, 2013
Q: Might a company that rakes in a lot of money still be a bad investment? - L.D., Worcester, Mass.   A: It's possible. Remember that the money a company takes in (its revenue, or sales) is its top line. Before you get to its bottom line of profits, you have to take out expenses, such as salaries, supplies and taxes. It's critical to know how much (if anything) the company keeps as profit, and whether important numbers, such as sales and profits, are increasing. Arch Coal, for example, has had average annual revenue growth of more than 12 percent over the last five years, and growth has accelerated.
BUSINESS
February 27, 2013
CDI Corp., the Philadelphia-based staffing company, reported Tuesday that 2012 revenues grew 4.3 percent to $1.105 billion, up from $1.06 billion in 2011. Net income was $19.1 million, up from $14.8 million, or 97 cents per diluted share, up from 77 cents. Revenues in each CDI specialties improved with staffing increases in oil, gas, chemicals, aerospace, industrial and high tech placements in engineering and other kinds of job contracts. Management Recruiters International, a franchised division of head-hunting agencies, saw increases in staffing revenues, but decreases in royalties and franchise fees.
NEWS
February 25, 2013 | By Angela Couloumbis, Inquirer Harrisburg Bureau
HARRISBURG - The Corbett administration's imperiled deal with a British firm to run the Pennsylvania Lottery will remain alive - at least for three more weeks. Administration officials announced Friday that Camelot Global Services had agreed to extend through March 18 its bid to manage the lottery. The extension was necessary because state Attorney General Kathleen Kane, whose office reviews all state contracts, last week ruled that the lottery deal violated the state constitution.
NEWS
February 25, 2013
THOSE WITH ONLY a few dollars to invest at a time are not out of luck with the stock market. Dividend-reinvestment plans (DRIPs) can help you invest sums such as $20 or $50. DRIPs let you buy shares of a company's stock directly from it, bypassing brokers (and broker commissions). Hundreds of major corporations offer DRIPs. With traditional DRIPs, you must own at least one share of a company's stock before you enroll in your own name. So if you're not already a shareholder, you'll have to buy at least one share through a broker, paying the commission.
BUSINESS
February 23, 2013 | By Mike Armstrong, Inquirer Columnist
Just because Sunoco Inc. is gone as an independent company doesn't mean that the screen has gone dark on how its gas-station and convenience-store business is doing. Energy Transfer Partners L.P. is the Dallas company that bought Sunoco for $4.9 billion last October. The energy pipeline and storage company broke out its lines of business in the latest earnings report. ETP's retail marketing division consists entirely of the 4,988 locations where Sunoco gasoline is sold.
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