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Vanguard Group

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BUSINESS
July 20, 1995 | By David I. Turner, INQUIRER STAFF WRITER
The Vanguard Group has quietly started a network that will allow small investors to trade mutual funds from nine of its competitors and to have all those holdings listed on their Vanguard statements. Other companies, including Fidelity Investments and Charles Schwab & Co., have offered such programs for several years, and Vanguard last week began introducing its version in response to requests from customers of its brokerage service, said John J. Brennan, president of the Malvern- headquartered company.
NEWS
June 6, 1991 | By Dominic Sama, Inquirer Staff Writer
Vanguard Group Inc. unveiled its plans for a 213-acre office campus complex before the Tredyffrin Township supervisors Monday night and received a generally favorable response. The supervisors heard more than two hours of testimony during a public hearing on the proposed office complex in the western part of the township near Cedar Hollow and Matthews Roads, south of Route 202 and east of the National Rolling Mills Inc. The financial-services company's plan will be on tonight's agenda of the Township Planning Commission.
BUSINESS
December 24, 1987 | By Jennifer Lin, Inquirer Staff Writer
Liberty All-Star Equity Fund, a closed-end investment company, yesterday said its trustees had unanimously rejected sweeping changes suggested by John C. Bogle, a Liberty shareholder and chairman of the Vanguard Group of Investment Cos. of Valley Forge. In a statement, the board said Bogle's proposals were "inconsistent with the fundamental premises on which All-Star was structured . . . and were not in the best interests of the fund's shareholders. " In unsolicited proposals, Bogle asked that the fund's shareholders vote on converting the company to an open-end fund.
NEWS
January 7, 2011 | By Walter F. Naedele, Inquirer Staff Writer
After the recent death of John T. Jackson, Vanguard Group in Malvern wrote to its employees about his significance to the firm. "Mr. Jackson joined the Wellington Management board in 1971. "After the Wellington Management board fired Jack Bogle as chief executive in 1974, Mr. Jackson was one of the independent directors of the Wellington mutual funds who voted to create a management company that would be owned by the funds and headed by Mr. Bogle. "That management company . . . is Vanguard, which began operations on May 1, 1975.
NEWS
August 31, 2000 | By Nancy Petersen, INQUIRER STAFF WRITER
Cited for its hot economy, low unemployment and innovative approaches to public / private partnerships, Chester County has been named community of the year by the state Chamber of Business and Industry. "What has happened in Chester County is significant for the business climate, especially the whole way the public and private sectors have worked together to bring about a positive climate for change," said Lew Ebert, vice president of marketing for the state chamber. Commissioner Colin Hanna said the award validates what most people already know.
NEWS
August 9, 2000 | By Brian Woodward, INQUIRER SUBURBAN STAFF
In the view south from the windows of State Sen. Jim Gerlach's office sit a scattering of sleepy shops and open green fields. But these days, Gerlach's sights are focused beyond those fields, down Black Horse Hill to the townships of Uwchlan and Upper Uwchlan. It is there, he says, that the first substantial application of two recently passed land-use laws will be put to the test. The legislation, known as Senate Bill 300 and House Bill 14, was signed into law June 22. Gerlach, a Republican who represents the 44th District, introduced the Senate bill and has spent much of his 10 year career in state politics working on pushing it through the state legislature, he said.
BUSINESS
May 11, 1999 | By Miriam Hill, INQUIRER STAFF WRITER
Coming soon to your television or personal computer screen: Vanguard employees to help you make financial decisions. The Vanguard Group's managing director for information technology, Bob DiStefano, said he envisions a future in which shareholders get help by clicking on a remote control or a mouse to talk directly to a Vanguard employee about how to save for retirement, a child's education, or any other financial goal. Adding that kind of service will take several years, he said, but the idea shows how tightly the mutual fund giant in Malvern is embracing technology as a strategy to offer new services at low cost.
BUSINESS
December 10, 2004 | By Todd Mason INQUIRER STAFF WRITER
Vanguard Group introduced a new mutual fund yesterday to be managed by one of its hottest outside investment firms. The manager, Primecap Management Co., quietly introduced three funds of its own last month, although Vanguard had closed two Primecap funds to new investors in March. Vanguard routinely closes hot funds to avoid hobbling managers with a flood of cash that cannot be invested wisely. (Yesterday, the fund family closed the $5.3 billion Vanguard Energy fund to new investors.
BUSINESS
September 28, 2004 | By Todd Mason INQUIRER STAFF WRITER
Fidelity Investments isn't shy about naming Vanguard Group as the target of its recent price cuts. The Boston fund family slashed fees last month on its index mutual funds, underpricing Vanguard's flagship Standard & Poor's 500 index fund by 40 percent. "We have a lot of customers who overlap with a large mutual-fund complex located near you," Jeff Carney, president of Fidelity Personal Investments, said in an interview. Vanguard, now the nation's biggest company for long-term mutual funds, is based in Malvern.
NEWS
February 7, 2001 | By Brian Woodward, INQUIRER SUBURBAN STAFF
As the Vanguard Group proceeds with its plans to build a corporate campus, it has come across a mystery shrouded in mud. Burrowed beneath frozen wetlands on the 246-acre property known as the Happy Days Farm, there may - or may not - be endangered bog turtles. The U.S. Fish and Wildlife Service and the Pennsylvania Fish and Boat Commission aren't taking any chances. The two agencies have required Vanguard to ensure that the species, which has been decimated by development and collectors in the last 20 years, is nowhere to be found on the property.
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ARTICLES BY DATE
BUSINESS
November 23, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
David Danon tried to warn Vanguard Group it was illegally underpaying its income taxes while he was a tax lawyer for the company from 2008 to 2013 and was punished in return, according to an affidavit filed in his whistleblower lawsuit last week. Danon, of Wayne, contends that after trying to "silence" him, Vanguard fired him "in retaliation for my persistent vocal questioning. " He said he sued only after Vanguard officials refused to act on what he termed "clear violations of law. " Danon said Vanguard, based in Malvern and holding $3 trillion in assets, was "intentionally engaged in unlawful conduct," in court papers meant to answer Vanguard's efforts to discredit him and stop his complaint from advancing in New York Superior Court.
BUSINESS
November 10, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Vanguard Group has grown so large, it can throw its weight around in any boardroom in America. "We own about 5 percent of every publicly traded [U.S.] company," sometimes more, chief executive F. William McNabb told a conference at the University of Delaware's John L. Weinberg Center for Corporate Governance on Oct. 30. McNabb said he has had to educate corporate managers who think Vanguard's funds of stocks, copied from indexes such as the S&P 500, are mere "passive" investors.
BUSINESS
November 2, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Vanguard Group , the Malvern mutual fund giant, wants a New York court to throw out a tax-fraud lawsuit that challenges the company's legal structure. It alleges that David Danon , the ex-Vanguard lawyer who filed the complaint, violated basic rules of corporate lawyer behavior by accusing his former bosses. Vanguard's memo, made public after New York Supreme Court Justice Joan A. Madden declined Vanguard's requests to keep case documents secret, argues that Danon "grossly betrayed" the $3 trillion-asset company, violated confidentiality requirements, and broke state legal ethics rules when he "stole hundreds of privileged and confidential documents" related to Vanguard tax practices.
BUSINESS
October 20, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
The lengthy bull market has helped boost Vanguard Group investors' assets by $1 trillion since the end of 2011. New revenues from the fees investors pay have also been growing. Malvern-based Vanguard now manages $2.7 trillion in U.S. investments, up from $1.6 trillion in 2011. Rising stock values, plus Vanguard's growth at the expense of its rivals - it now controls 18 percent of U.S. mutual fund assets, up from 13 percent before the recession - has generated more than $1 billion in additional annual fees over the last three years.
BUSINESS
September 17, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
John Bogle , founder of Vanguard Group , the $3 trillion-asset, Malvern-based leader of the mutual fund industry, is due in Washington on Tuesday to lecture the Senate Finance Committee on what ought to be done to prevent retired Americans from ending up in their kids' closets and garages or public shelters, now that most big companies no longer offer guaranteed pensions. Some of Bogle's suggestions: Save Social Security by delaying retirement until age 69; boost benefits based on inflation, not wage increases; impose the Social Security tax to higher wages; and limit payouts to rich retirees.
BUSINESS
February 17, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
For a view of the "jobless recovery" - there are still fewer Americans employed today than in 2008, despite rising business profits and share prices - take a look at what has changed at Vanguard Group's Chester County campus. And what hasn't. Vanguard assets have tripled, to nearly $3 trillion, since the stock market bottomed out five years ago. Its popular index portfolios, targeted-date retirement funds, and other products now account for nearly one-fifth of the U.S. mutual fund industry.
BUSINESS
November 6, 2013 | By Joseph N. DiStefano, Inquirer Staff Writer
A lot has changed since Mayfair rowhouse native Robert F. Auwaerter, then a young Wharton School (and Father Judge High) graduate, left a failing Chicago bank 32 years ago to join Vanguard Group's new bond-investment business. As Auwaerter, 58, plans to retire in the spring as head of the Fixed Income Group, his operation ranks among the industry's giants, with $750 billion in fixed-income assets and a staff of 120. Auwaerter has been "the backbone" of Vanguard bonds his whole career, chief executive Bill McNabb said in a statement.
BUSINESS
July 1, 2013 | By Harold Brubaker, Inquirer Staff Writer
Nearly 20 years ago, the Vanguard Group started opening campuses in other parts of the country, first in Arizona in 1994 and then in North Carolina three years later. The plan was to keep doing that until employees of the Malvern mutual-fund giant were spread over five or six states, but the company hit a wall when it tried to pick a fourth site. "We couldn't come up with a region that had the kind of education center that Philadelphia has, that would offer us the kind of talent that we have been able to get from Philadelphia, so we really decided to double down," Vanguard's president and chief executive, F. William McNabb, said last week.
BUSINESS
January 22, 2013
Moorestown Friends School has appointed three new school committee members: Peter Baily, head of school at Oakwood Friends School in Poughkeepsie, N.Y.; Stefanie Cohen, former president of Congregation M'kor Shalom in Cherry Hill; and Patricia Ann Metzer, a tax lawyer with Vacovec, Mayotte & Singer in Cambridge, Mass.   Arthritis Foundation, Eastern Pennsylvania Chapter , named Mary Pat Kessler to its board. She is vice president at Willis Human Capital Practice.
BUSINESS
September 11, 2012 | By Joseph N. DiStefano, Inquirer Staff Writer
Coldwell Banker Elite Realtors shut its network of South Jersey offices Monday, idling nearly 100 agents plus their support staff. The Elite agency "discontinued operations" at its Mullica Hill headquarters and residential real estate offices in Burlington, Camden, and Gloucester Counties, confirmed David Siroty , spokesman for Coldwell Banker Real Estate L.L.C in Parsippany, N.J., which licenses the Coldwell Banker name and network to local operators....
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