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Wolf's budget address causes cheers, sneers from business community

Tuesday March 3rd, 2015 07:53:35 PM Jared Shelly
Gov. Tom Wolf released the details of his 2015-2016 budget at a speech Tuesday in Harrisburg. It offered details about the core issues he discussed during his campaign: Tax the oil-and-gas industry and increase education funding.The governor's plan provides more than $1 billion in new funding and reforms for education, from early childhood to universities. It's part of his plan to invest $2 billion in education over the next four years. He also called on the state legislature to increase the minimum…

CloudMine raises $5 million Series A round

Tuesday March 3rd, 2015 07:13:34 PM Lauren Hertzler
CloudMine, a Center City enterprise mobility company, raised $5 million, with Safeguard Scientifics leading the round. Participating investors include MentorTech Ventures, DreamIt Ventures, DeSimone Group Investments, Ben Franklin Technology Partners, Mid-Atlantic Angel Group and Robin Hood Ventures, among others.CloudMine said it plans to use the new capital to "enrich its product and expand marketing and sales functions."Since its founding in 2011, the tech company has grown to offer a mobile-optimized…

Chester County biopharm firm names new CEO, expands management team

Tuesday March 3rd, 2015 06:30:00 PM John George
PhaseBio Pharmaceuticals has named a new CEO and expanded its leadership team as it looks to advance its new drug candidates under development to treat diabetes and cardiovascular dysfunctions.New CEO Jonathan P. Mow joined the Malvern, Pa., company in late 2012 as chief business officer. Mow, who has more than 20 years of life sciences industry experience, had previously served as vice president for business development at Amylin Pharmaceuticals, a San Diego company acquired three years ago for…

Read Tom Wolf's full budget address

Tuesday March 3rd, 2015 04:47:55 PM Jared Shelly
The following is the entire prepared 2015-16 budget address by Gov. Tom Wolf.He's announcing a four-year commitment to increase education funding by $2 billion while cutting property taxes paid by the average homeowner by 50 percent and reducing the total tax burden on the middle class.He's also announcing a plan to cut the corporate net income tax by 50 percent and make job creation investments through programs like the Made in Pennsylvania manufacturing tax credit.The full speech is below:Lt.…

Health Partners Plans passes 10,000 mark for Medicare members

Tuesday March 3rd, 2015 04:30:04 PM John George
Health Partners Plans has passed the 10,000-member mark in its Medicare plan, one year after its re-entry into the product line.The Philadelphia managed care company, which has focused primarily on the Medicaid market for the past three decades, offered Medicare coverage from the late 1990s into the mid-2000s.It sold its Medicare business — which at the time had 22,000 members — to Elder Health in 2007 because of changes in how the Centers for Medicare and Medicaid Services were reimbursing…

Atlantic City needs leisure visitors that pay to be there, says head of tourism agency

Tuesday March 3rd, 2015 03:59:33 PM Francis Hilario
(This is the second in a series of stories on the reactions of Atlantic City workers and leaders on the city's current state. For more coverage, read our Feb. 27 print cover story, Gambling on Survival.)Jeff Guaracino played the Philadelphia game for a time, including a position as vice president of communications at the Greater Philadelphia Tourism Marketing Corp. (GPTMC), now known as Visit Philadelphia, before heading to the marketing organization Atlantic City Alliance a couple years ago.Guaracino,…

Of goofing up, forgiveness and knowing when to welcome change

Tuesday March 3rd, 2015 02:49:01 PM Karen Friedman
Oops, I goofed. This is a textbook case of what not to do when you're annoyed. It went something like this.One of our vendors sent us an invoice that reflected a price increase. Looking back at the invoices, I noticed that he does this every year, yet his annual sock-it-to-the-customer hikes were far outpacing inflation. So we inquired why.Instead of answering the why question from our chief information officer, he responded about the cost of filing tax returns, reconciliation of Act 32, handling…

WSFS agrees to buy Delco bank for $92M

Tuesday March 3rd, 2015 02:05:34 PM Jeff Blumenthal
Wilmington-based WSFS Financial Corp. continued its growth in Southeastern Pennsylvania Tuesday by announcing plans to acquire Alliance Bancorp Inc. of Pennsylvania for $92 million.Broomall-based Alliance, which has been in operation since 1938, has eight branches predominantly in Delaware County as well as $421 million in assets, $310 million in loans and $345 million in deposits as of December 31.That will double the number of Southeastern Pennsylvania locations for WSFS. After years of having…

5 things to know today (3-3)

Tuesday March 3rd, 2015 01:53:47 PM Jared Shelly
Here's what's happening today:1. Think the FCC's new net neutrality rules put an end to the fight against the Comcast-Time Warner Cable merger? Think again. A coalition with members from DirecTV and Comptel slammed the proposed deal yet again.2. Thad Moore of IntePros Consulting has been watching the IT job market closely — and he argues that it's finally a candidate-driven marketplace where job seekers are in control.3. Scary situation in Montgomery County last night. Trico Metal Products'…

Amazon hiring 800 at N.J. fulfillment center

Tuesday March 3rd, 2015 01:14:12 PM
Amazon is hiring 800 employees at its fulfillment center in Robinsville, N.J. The online retail giant opened the 1.2 million square foot facility eight months ago and already employs more than 1,500 people there.Here's more from"This is exactly what we were hoping when we brought in Amazon," Robbinsville Mayor Dave Fried said on Monday. "They've been a really good provider of jobs for this community and throughout the Mercer County region. They're going to continue to hire. They need…

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