September 2, 2016 |
Philadelphia is counting on its recent good fortune with tax revenue continuing for the next five years as a way to fund new labor agreements and rising pension costs. As presented in the latest version of the city's five-year plan - approved by the Pennsylvania Intergovernmental Cooperation Authority on Wednesday - the city is assuming about $20 million more in revenue each year than originally estimated. That, however, won't completely cover the costs of new labor agreements. Officials revised the five-year plan after Mayor Kenney signed a four-year, $170 million contract in July with the city's largest municipal union, AFSCME District Council 33. During Wednesday's PICA board meeting, board members expressed concern over a potential recession within the next five years.
August 19, 2016 |
I'VE ALWAYS enjoyed talking with people, and, as long as I can remember, I wanted to work in the hotel industry. It's been my dream to work with guests at the front desk to make sure they have the best experience possible. As an African-American woman, I knew that lucky breaks weren't going to be handed to me, so I did everything I could to achieve my dreams. I went to school and got my bachelor's degree in hospitality and hotel management in 2000 from the Indiana University of Pennsylvania.
February 9, 2016
There are few signs of an impending recession. So why is everyone using the "R" word? Wall Street's thinking goes like this: Flat returns in the stock market make it harder for the Federal Reserve to raise interest rates, and in turn, the Fed's lack of action concerns investors about U.S. economic expectations. That's the feedback loop, as explained by local strategists and money managers. Guy LeBas, fixed-income strategist at Janney Montgomery Scott in Center City, dove into the details.
February 1, 2016
The stock market slide has been dizzying. Since the start of the year, stock prices have plunged by more than 10 percent, their worst start to any year on record. There is increasingly ominous talk among investors that the troubled stock market is signaling, or may even precipitate, a recession. Ignore the talk. While the stock market decline is disconcerting to watch, as the late economics Nobel laureate Paul Samuelson once quipped, "Wall Street indexes predicted nine out of the last five recessions.
December 28, 2015 |
Mayor Nutter is not one to complain about his job. It is a gig he has loved, maybe never more so than in his last year, which he took on with a mix of nostalgia and joy, rarely focusing, at least publicly, on the end. But on a recent afternoon in his office, still cluttered with papers and not a moving box in sight, Nutter conceded that being "up" for the better part of eight years has been taxing. "Not just awake. Up," he said. "The moment I step out of that car in the morning, I know that people are looking.
December 19, 2015
TRENTON A bill that would require grade school students to get at least 20 minutes of recess a day was approved by the Assembly on Thursday. If it wins full legislative approval, the law would apply to students in kindergarten through fifth grade. If possible, recess would be held outdoors. "In addition to giving children time to recharge during the school day, recess allows students to develop their social skills and get some physical activity," said Assemblyman Joseph A. Lagana (D., Bergen)
December 9, 2015 |
Gaetan Alfano, a name partner in a Center City law firm known nationally for its work in commercial litigation and whistle-blower lawsuits, is scheduled to make his inaugural address as chancellor of the Philadelphia Bar Association on Tuesday amid concern over the group's flat membership and complaints it has lost relevance. Alfano, a member of Pietragallo Gordon Alfano Bosick & Raspanti L.L.P., argued in a recent interview that the association remains critical to the lives of lawyers in Philadelphia, and pointed to initiatives such as efforts to block a proposed sales tax on professional services under consideration in Harrisburg.
November 30, 2015 |
Want to know the deal on recess? Go to the experts. "We can exercise!" said Collette Guerin, one in a gaggle of second graders rocking the playground last week at Zane North Elementary School in Collingswood. "You can use up your energy so you're calmer," chimed in classmate Celia Titcombe. Lilly Stout spoke for all: "It's so fun!" In time, schoolchildren all over New Jersey may join in that chorus. A bipartisan-backed bill recently cleared the state Assembly's Education Committee that would require school districts to provide a daily recess period for students in kindergarten through the fifth grade.
August 4, 2015 |
One in an occasional series Brian Martin, 33, almost gave up on being a bricklayer during the recession. He loved the work but couldn't get any, so he joined the vast army of construction workers rendered jobless by the worst economic downturn since the Great Depression. "I thought about going back to school," said Martin, of Glenolden, taking a break from work at the University of Pennsylvania's newest dormitory, the New College House at Hill Field. Up on the scaffolding, Rocco D'Angelico, 59, said he managed to keep working as a bricklayer during the recession, but now he's looking toward retirement because of "all the aches and pains in my bones.
July 1, 2015 |
In City Council's often-bustling chambers, the curtains are drawn and the lights dimmed to a soft glow. The 17 mahogany desks are cleared, save for a few copies of bills and a soda can left by advocates who favored a soft-drink tax to fund Philadelphia schools - a fight now in the rearview mirror. This room will get little use this summer, as Council takes its annual three-month legislative break. It's among the longest recesses taken by any major city council in the country.