October 20, 2014 |
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.
September 17, 2014 |
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.
February 17, 2014 |
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.
November 6, 2013 |
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.
July 1, 2013 |
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.
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.
September 11, 2012 |
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....
September 2, 2012
Investment vs. Speculation By John C. Bogle John Wiley & Sons. 338 pp. $29.95 Reviewed by Joseph N. DiStefano Sixteen years after he stepped down as chief executive of Vanguard Group to fix his ailing heart, John C. Bogle remains the investment company's ardent cheerleader, a plainspoken advocate of the old virtues of thrift and probity, a blunt critic of financial-industry aggrandizement - and the most effective marketer in the...
June 23, 2012 |
IN THE REGION Delta completes refinery buy Delta Air Lines on Friday finalized its purchase of the ConocoPhillips refinery in Trainer and will begin to bring back about 400 employees who were laid off last year when the plant was idled. A Delta spokesman said that its subsidiary, Monroe Energy L.L.C., will start a turnaround at the Delaware County refinery after the July 4 holiday with the aim of resuming fuel production this fall. The airline paid $180 million for the plant, with the Corbett administration chipping in $30 million on the condition that Monroe maintain 400 employees for five years.
May 31, 2012 |
In one of the biggest middle-income developments planned for Philadelphia in recent memory, Korman Residential, of Trevose, is "proposing to build 722 apartment units" near Philadelphia International Airport, boss John Korman tells me. Rents to start at $1,150/month for one bedroom, $1,400/month for two. There's no formal proposal at the city planning office yet. But you could say this project has been in the works since the 1950s, when the...