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NEWS
October 23, 2012 | BY JOHN F. MORRISON, Daily News Staff Writer
LEONARD WARREN Simpkins Jr. would be cooking a meal or riding in his car and the muted trumpet of Miles Davis would be filling the air with jazz. Leonard was a big jazz fan and the late trumpeter was his favorite, although he also dug John Coltrane, Wes Montgomery and Charlie Parker, among others. And he didn't just listen to their music. He had firm opinions about the artists - which ones were the best and why, which ones mediocre - as well as an encyclopedic knowledge of their work.
NEWS
December 14, 2012
DEAR HARRY: I have a good pension plan where I work, and I have been contributing right up to the maximum allowed. The company matches my contributions up to 6 percent of my pay. Today, I saw some guru on TV telling people that any money above what the company will match should go into real estate. He was even going to the point of telling viewers to move to a bigger home with a bigger mortgage. With low interest rates and the threat of inflationary policies in Washington, he insisted that this was a no-brainer.
NEWS
August 25, 1995 | by Jacqueline Love, Daily News Staff Writer Staff writer Earni Young contributed to this story
Want to buy a house? Need advice on what to do now that you're moving for the first time? If so, the answers can be as close as your personal computer. Log on and link up to the LibertyNet, where cyberspace meets real estate. LibertyNet is a regional computer-based network with information about lots of things - community organizations, educational institutions, historic and cultural attractions, local government and business in the Philadelphia region. And real estate.
NEWS
September 5, 2000 | By Kay Raftery, INQUIRER SUBURBAN STAFF
Selling a house can be like losing an old friend. The attachment between home and homeowner can run that deep because of the sense of history and familiarity. And when the owner is an older person and the history spans decades, the loss can be quite painful, real-estate agents say. Jean Brenner of Richboro, who has sold real estate for 23 years, knows this from personal experience. After selling her home of 18 years, she found herself getting weepy all the time. "I was depressed but didn't know why," Brenner said.
NEWS
June 29, 2007 | By Harold Brubaker, INQUIRER STAFF WRITER
In a stunning move linked to a federal investigation, Vernon W. Hill II is leaving Commerce Bancorp Inc., which he founded more than 30 years ago and built into a $47 billion bank that helped change the face of retail banking. The Cherry Hill bank said today that Hill, 61, would immediately depart from its main operating subsidiary and would retire as chairman, president and chief executive of Commerce Bancorp on July 31. Commerce stock climbed on the news, as investors placed bets that the company will be sold.
NEWS
November 12, 1993 | By Mary Blakinger, INQUIRER CORRESPONDENT
Flora K. Rubin cannot stand inertia. That's why she teaches ethics to real-estate agents, sells about $8 million worth of real estate a year, and works on a task force that is proposing revisions in real-estate law. It's also one reason why the Pennsylvania Association of Realtors recently chose Rubin, of Narberth, for its 1993 Outstanding Service Award. "She doesn't recognize the words, 'It can't be done,' " said Rubin's friend and colleague, Carolyn Eagan. It was Eagan, executive vice president of the Main Line Board of Realtors, who submitted Rubin's name to the 26,000-member state association for consideration for the award.
BUSINESS
September 22, 1992 | by Earni Young, Daily News Staff Writer
When the Berlin Wall came tumbling down more than two years ago, followed by the Soviet Union, Binswanger Co. saw a golden opportunity in the rush by American firms to consolidate and relocate their European operations. After a six-month test, the Philadelphia-based firm and Auguste-Thouard of Paris yesterday formally announced the formation of Auguste-Thouard- Binswanger, which will provide international real-estate services. The partnership with France's largest commercial real-estate brokerage is unique, said Frank G. Binswanger 3rd, who has been named a managing director of the new venture.
NEWS
January 21, 1988 | By Chuck McDevitt, Special to The Inquirer
The opening of a new RE/MAX franchise real-estate office at 1001 Baltimore Pike in Springfield has been announced by Michael J. Stefonick, regional director of RE/MAX of Southeastern Pennsylvania. The Springfield office - operating under the name RE/MAX Delco - is the 46th franchise in the Southeastern Pennsylvania regional group. The franchise is owned by Paul V. Kazunas. The 4,500-square-foot office employs seven sales associates. Projections call for the addition of about 15 associates within nine months, according to Kazunas.
REAL_ESTATE
July 17, 1986 | By LEW SICHELMAN, Special to the Daily News
Two years ago Clark Firestone, an old buddy from my high- school days, was like a lot of would-be real-estate investors. He had heard about people who made fortunes in real estate while sheltering a good bit of their incomes, and he wanted to do the same. But he was scared to death. Today, Firestone and nine of his friends and neighbors are in the process of purchasing their 10th property. When the deal goes to settlement in the next few weeks, they'll own about $500,000 worth of real estate between them.
NEWS
March 27, 1987 | By CYNTHIA BURTON, Daily News Staff Writer (Staff writer Gary Thompson also contributed to this report.)
The biggest "if" in Mayor Goode's proposed $1.8 billion budget has real- estate developers and investors coming up with a few "ifs" of their own. Goode's plan to sell two city office buildings - City Hall Annex and the Municipal Services Building - for $65 million and lease them back for $14 million a year is the biggest link in the fiscal chain that would keep taxes and services where they are. But several developers said they'd rather knock...
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REAL_ESTATE
July 26, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
The Counselors of Real Estate is a group of 1,000 individuals, invited to join, who are considered the crème de la crème of the industry. Over the last 26 years, the organization has provided considerable fodder for this column. Today's focuses on the top issues facing residential real estate in 2015-16, as seen by the group. I'm skipping over commercial real estate issues, unless they affect residential or result from housing shifts. First up: demographic shifts, with baby boomers and millennials having the greatest impact.
NEWS
July 24, 2015 | By Jeremy Roebuck, Inquirer Staff Writer
Not even a stint in a Kentucky prison cell could stop serial counterfeiter and forger Kenneth Hampton from engaging in one of Philadelphia's oldest real estate scams, federal prosecutors said. In an indictment unsealed Tuesday, Hampton, 54, was charged with recruiting three family members in a scheme to steal two West Philadelphia rowhouses by filing fraudulent deeds with the city's Department of Records. All told, investigators say, Hampton caused $87,000 in losses and kept potential property buyers tied up in court for months.
BUSINESS
July 9, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
Sellers appear to be having a better time in today's market. So says a national survey by Coldwell Banker Real Estate, which compared responses in late April with the initial recovery years of 2010 to 2013. It found that: The offer the seller accepted recently was based more often on emotion than money. About 25 percent say they sold their homes in less than two weeks. Forty-seven percent received multiple offers this year, compared with 40 percent back in 2010 to 2013.
NEWS
May 20, 2015 | By Walter F. Naedele, Inquirer Staff Writer
Michael J. Lenny, 75, of Cherry Hill, a real estate appraiser there, died of leukemia on Thursday, May 14, at home. Mr. Lenny served as president of the Camden County Board of Realtors in 1979. He graduated from Camden Catholic High School in 1957, and studied business at the University of Miami before serving in the Air Force Reserve, a son, Kevin, said. In 1962, Mr. Lenny joined his father's firm, Lenny Realtors, which appraised, bought, sold, and insured houses. The Fairview firm expanded to Cherry Hill when Mr. Lenny joined his father, Kevin Lenny said.
BUSINESS
May 18, 2015 | By Jane M. Von Bergen, Inquirer Staff Writer
The company that Joseph F. Coradino leads took a lot of heat over the Gallery. Critics lashed out at the Pennsylvania Real Estate Investment Trust, which includes the Center City mall among the dozens it runs nationwide, for shutting stores and cutting merchants off from their livelihoods. Even the promise of a glittering new shopping mall in a tired section of Market Street East didn't seem to turn down the temperature. But the critics didn't understand the whole story, says Coradino, 63, chief executive of PREIT.
BUSINESS
May 18, 2015 | By Harold Brubaker, Inquirer Staff Writer
Brownstein Group and Vault Communications are in similar businesses: advertising and public relations, which means their success depends largely on people - who can set up shop anywhere. Brownstein is in Center City, while Vault is in Plymouth Meeting, and the tax consequences of their locations separate them far more than the 19 miles between their offices. Vault pays a business privilege tax of 0.15 percent and no local net income tax in Plymouth Township. Brownstein's tax bill in Philadelphia includes a 6.45 percent corporate income tax, a 0.1415 percent gross receipts tax, a 1.13 percent use and occupancy tax, and a 2 percent city sales tax. That heavier tax burden, coupled with the Philadelphia wage tax that is nearly four times higher than the average in the suburbs, has long handicapped the city's job growth.
REAL_ESTATE
May 11, 2015 | By Alan J. Heavens, Inquirer Real Estate Writer
It didn't matter when Philadelphia's median home price was $59,000. Back in 1990, the children of longtime owners of rowhouses in the river wards and West Philadelphia walked away from those properties when the last parent passed away. The houses weren't worth the taxes, and no one was interested in them except those who broke the locks and stripped the insides of copper and anything else they thought was worth a buck. Some neighborhoods didn't even have real-estate agents. If someone's son or daughter needed a house and a neighbor had died, the transaction was done off the grid but recorded with the city.
ENTERTAINMENT
May 2, 2015 | By Inga Saffron, Inquirer Architecture Critic
There's nothing fancy about the ensemble of redbrick houses that line the 3600 block of Lancaster Avenue in Powelton Village. Built in the late 1870s, when the avenue linked country farms to city markets, the modest, wood-trimmed buildings housed working people who tended shops on the ground floor. Folks still live upstairs today, and neighborhood businesses - bike store, nail salon, day-care center - still pepper the storefronts below. Such blocks are what make Philadelphia, well, Philadelphia.
BUSINESS
April 27, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
The speedy growth of Nicholas Schorsch 's real estate empire of 4,000 Walmarts, Red Lobsters , and other chain locations stalled last fall, when his publicly traded investment firm, American Realty Capital Properties , admitted falsely inflating profits. Last month, the company restated three years of earnings, acknowledged millions in unreported losses, and replaced top bosses. American Realty's admission - amid what the company said are investigations by federal prosecutors in New York, securities regulators in Massachusetts, and the Securities and Exchange Commission - has given investors ammunition to fix blame for the $3 billion decline in the company's share value since last fall.
BUSINESS
April 24, 2015 | By Jane M. Von Bergen, Inquirer Staff Writer
When was the last time anybody said, "Please raise my taxes"? But that was the message Gerard Sweeney, president and chief executive of Brandywine Realty Trust, one of the region's largest commercial real estate developers, delivered Wednesday at a news conference outside City Hall. "We're prepared to pay more to make our city grow," Sweeney said. The proposal, backed by organized labor and civic and business associations, would change the city's tax structure by increasing the tax rate for commercial real estate above the rate for homes.
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