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Restructuring

NEWS
April 23, 2012 | By Kristen A. Graham, INQUIRER STAFF WRITER
The Philadelphia School District will massively restructure itself in the coming months, fundamentally altering the way it is organized and run - and possibly closing 40 low-performing, underused schools next year and shifting many more students to charters. The district faces a $218 million shortfall for the coming school year, more than previously stated and subject to rise if Mayor Nutter's proposed city tax plan does not materialize or if a recent charter school ruling is not altered.
NEWS
April 8, 2012 | By Bill Reed, Inquirer Staff Writer
Five thousand students are in the middle of an educational tug-of-war in one of the largest and most affluent school districts in Pennsylvania. More is more, administrators and school board members say. An additional 10 minutes a day spent on each core subject, such as math, science and social studies, will help middle-school students learn better, they insist. More is less, parents and teachers counter. Students will lose one period a day of art, music, gym, and other "special" classes.
NEWS
February 23, 2012 | By Kristen A. Graham, Inquirer Staff Writer
The William Penn Foundation is donating $1.5 million to help restructure the Philadelphia School District, and officials said Wednesday they thought the move could bring more funds from the philanthropic and nonprofit sectors. The money would go directly to pay for what is regarded as a much-needed management consultant, William Penn president Jeremy Nowak said Wednesday. Nowak also said the foundation would help the School Reform Commission identify other private funders to help turn the district around.
SPORTS
February 22, 2012 | BY LES BOWEN, bowenl@phillynews.com
CULLEN JENKINS knew his $7.5 million cap number for 2012 might be a problem. In the end, Jenkins was more interested in not having to uproot his family again, and in helping the Eagles be more competitive in the free-agent market, than he was in making every penny he might have been able to squeeze out of his situation. Jenkins, 31, was an honest, solid, reliable performer for the 2011 Eagles, and he remained in that mode yesterday, when the team announced he had agreed to restructure his contract, originally announced as a 5-year deal last August.
NEWS
February 21, 2012 | By Jeff McLane, INQUIRER STAFF WRITER
Cullen Jenkins took a pay cut and was happy to talk about it. The Eagles "restructured" the defensive tackle's contract and released the information through a news release. Typically, that does not happen. But the team's announcement and Jenkins' willingness to talk with reporters during a conference call Tuesday reflected the collegial nature of negotiations, because neither side wanted a parting of the ways. But with Jenkins slated to earn $7.5 million in total salary for the coming season - all of which would have counted against the Eagles' salary cap number - there was the possibility the team could have released the 31-year old. It was unclear whether the Eagles were willing to cut Jenkins - one of the few "Dream Team" free-agent signings from last summer to live up to expectations and one who became a locker-room leader - but he said he knew at the end of the season that his contract would have to be reworked if he wanted to return.
BUSINESS
October 20, 2011 | By Mike Armstrong, Inquirer Staff Writer
With its business in Europe struggling, Philadelphia-based Checkpoint Systems Inc. announced plans to expand a restructuring program to cut expenses and jobs. The maker of antitheft tags and devices for retail chains said its latest restructuring would affect 1,000 existing employees, or 17 percent of its global workforce, compared with a similar effort launched in 2009 that eliminated 204 positions. It was unclear how many of those cuts may fall on its small Center City headquarters or at its Thorofare operations, where about 250 are engaged in research and development, accounting, human resources, and other functions.
BUSINESS
July 27, 2011 | By David Sell, Inquirer Staff Writer
GlaxoSmithKline chief executive officer Andrew Witty said Tuesday that the pharmaceutical industry would contract in coming years and that the survivors would be the companies that solved the "equation" of how to squeeze the most profit from every pound or dollar spent on research and development. Financial markets are the driver of the change. "The market is signaling that it wants less - in total - spent on R&D, so the total amount of R&D will come down," Witty said from the London Stock Exchange during a conference call with reporters after the release of second-quarter earnings.
SPORTS
July 5, 2011
The Flyers will apparently have to restructure the five-year, $9 million contract they gave to free-agent forward Max Talbot on Friday. According to TSN, the Flyers violated the Collective Bargaining Agreement by reducing Talbot's salary by more than 50 percent between the third and fourth years - from $2.25 million to $1 million. Barry Hanrahan, the Flyers' assistant general manager, downplayed the matter and said no fine was forthcoming. "We haven't heard from the league," he said in a text message on Monday.
NEWS
May 24, 2011 | By Mark Fazlollah and Jennifer Lin, Inquirer Staff Writers
Philadelphia Housing Authority chief Michael P. Kelly says he expects to quickly enact a "fundamental restructuring" of the agency's nonprofit tenant organization to restore public confidence after allegations of misused funds. The organization - Tenant Support Services Inc. - is led by Asia Coney, who earns $108,000 a year, while living in public housing. Kelly said PHA would decide by June 30 whether to renew its $1.4 million contract with the tenant group for the third and final year.
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