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Police Athletic League nets $3.5 million gift from Sixers' owner

Thursday August 27th, 2015 07:51:00 PM John George
Philadelphia 76ers owners Josh Harris announced Thursday his family foundation is donating $3.5 million to the Police Athletic League.The gift is the largest ever received by the 68-year-old nonprofit organization.PAL serves more than 15,000 boys and girls ages 6 to 18 at 18 centers staffed by Philadelphia police officers in some of the city’s highest-crime and lowest-income neighborhoods.Date set for Joe Frazier statue unveilingThe Harris Family Foundation grant, to be disbursed over five…

Date set for Center City Wawa opening

Thursday August 27th, 2015 06:58:39 PM Kenneth Hilario
Click here for full coverage of the papal visit from the Philadelphia Business JournalIt looks like Wawa does have Pope Francis fever. The convenience store will be opening its Center City flagship just in time for Pope Francis' visit, two months ahead of schedule.Wawa will be opening its Avenue of the Arts location tentatively on Sept. 18, a few days before the World Meeting of Families event starts on Sept. 22, according to officials with the locally based convenience store chain.SEPTA…

Local county council to towns: Apply for $2M in state storm funds

Thursday August 27th, 2015 06:54:36 PM Dan Norton
After several Delaware County towns were affected by a severe windstorm in June, the county's council chairman Mario Civera is encouraging municipalities to apply for state funding.Towns are eligible to receive half of the $2.67 million cost incurred from the storm.The windstorm was 15 minutes long, the winds were 70 mph and it was a straight storm,” Civera told the Daily Times News. “The county of Delaware had severe damage."Comcast loses $400M over failed Time Warner acquisitionThere…

Bank cuts 280 positions in Center City

Thursday August 27th, 2015 06:50:32 PM Jeff Blumenthal
The Bank of New York Mellon will eliminate 280 positions at its 701 Market Street offices, according to a Worker Adjustment and Retraining Notification Act (WARN) notice filed with state officials.BNY Mellon said the WARN notice, effective Oct. 9, is part of a plan to "rationalize our utilization of available office space across the company."The company said it some of the employees affected will be relocated to BNY Mellon offices in King of Prussia and Wilmington, Del.The bank began notifying…

SEPTA 'disappointed' in sale of special papal train passes

Thursday August 27th, 2015 06:48:11 PM Alison Burdo
Click here for full coverage of the papal visit from the Philadelphia Business JournalSEPTA officials revealed their disappointment in the sales of the special Regional Rail papal passes Thursday, when they explained the distance pilgrims will walk from SEPTA stations to the edge of the Francis Festival Grounds is no more than a mile, although they should be prepared for a longer trek to get to Logan Square and the Benjamin Franklin Parkway.SEPTA General Manager Joseph Casey said Regional Rail…

Fatal shooting of Chester County courthouse attacker justified: Investigators

Thursday August 27th, 2015 06:05:09 PM Alison Burdo
Investigators called the deadly shooting of the White House fence jumpe r, who wielded a knife inside the Chester County Justice Center Tuesday, was an appropriate response.Thirty-four-year-old Curtis Smith, who made national headlines earlier this year for scaling a White House fence, attempting to slash a Deputy Sheriff with a knife in the lobby of the courthouse, sending the Justice Center into lockdown.A second Deputy Sheriff fired three shots with his service weapon, striking Smith twice…

Comcast loses $400M over failed Time Warner acquisition

Thursday August 27th, 2015 05:55:36 PM Dan Norton
Comcast Corp. (NASDAQ: CMCSA) reported it lost over $400 million in expenses during its failed acquisition of Time Warner Cable (NYSE: TWC), according to a filing with the Securities and Exchange Commission.Although the $400 million is a baffling amount of lost cash to many businesses, one expert said it was a standard calculated risk."It’s such a big company so $400 million will sound like a lot," said David Becher, an associate professor of finance at Drexel University. "It's still shareholder…

Date set for Joe Frazier statue unveiling

Thursday August 27th, 2015 05:20:09 PM John George
A 12-foot bronze statue honoring Philadelphia boxing legend Joe Frazier will be unveiled outside the Xfinity Live! complex during a free public ceremony on Sept. 12.Statue artist Stephen Layne recreated Frazier in mid-punch, depicting the moment after Frazier landed the punch that knocked down Muhammad Ali in the 15th round of their fight on March 8, 1971, at Madison Square Garden.Frazier was the first fighter to defeat Ali. Frazier, who won the 1964 Olympic gold medal in Tokyo, had a professional…

How Temple plans to save $39M through partnership

Thursday August 27th, 2015 04:28:59 PM John George
Temple University Health System and GE Healthcare have formed what they are describing as a “first-of-its-kind” collaboration aimed at providing radiologic imaging services more efficiently and at a lower cost.The goal of the seven-year collaboration is to produce $39 million in operational savings by using new technology, which will enable the health system to modernize its radiological imaging equipment, and industry best practices.BB&T: We will compete for middle market lendingThe partnership…

Another local drug developer joins the life sciences IPO frenzy

Thursday August 27th, 2015 03:55:12 PM John George
Yet another life sciences company with ties to the Philadelphia region is set to go public.Nabriva Therapeutics, which is based in Vienna, Austria, and has its U.S. headquarters in King of Prussia, has filed plans with the Securities and Exchange Commission for a initial public stock offering.The filing does not yet include details on how many shares the company plans to sell, or the price range for the proposed offering.BB&T reacts: We will compete for middle market lendingSo far in 2015,…


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