Region's Business 9 May 2013

WHY PHILLY TECH WEEK MATTERS NEW LOOK AT CIRA CENTRE SOUTH

REMEMBERING CHAMBER EXECUTIVE MAHONEY

REGION’S BUSINESS

PHILADELPHIA EDITION

A JOURNAL OF BUSINESS AND POLITICS

IN CITY, LIKE NATION, WOMEN FIGHT FOR SEAT

AT THE TABLE

Powerful female Philadelphians aren’t looking to make history; they just want the same chances given to their male counterparts

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9 MAY 2013

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CONTENTS

18 28

Councilwoman: City’s Corporate World Can Do Better

25

YEAR OF THE INNOVATOR

14

Economy League Deputy Director: Why Philly Tech Week Matters

26

15

Seven Things All Entrepreneurs Should Know

Finding A Future For Fast Food Pioneer

17

1DocWay Wins Wharton Contest

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9 MAY 2013

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WEEKLY BRIEFING

Study: City’s Green Space Leads To Decreased Crime Chamber VP Mahoney Dies IN MEMORIAM

MEDIA

Comcast Moving NBC Sports, Jobs To Connecticut Comcast-owned NBC Sports is moving out of 30 Rockefeller Plaza in Manhattan and into Stamford, Conn., and it will be taking 120 jobs out of Philadelphia with it, according to a report in The Philadelphia Inquirer.

Comcast SportsNet Philadelphia will continue to operate out of the Wells Fargo Center, according to the report.

Connecticut tax credits have lured television production crews to New England, including ESPN and its 3,800 employees based in Bristol.

A total of 500 jobs will reportedly move to the new office from Pennsylvania, New York and Stamford.

Two Temple University researchers recently conducted a study of Philadelphia census tracts to determine the relationship between the amount of vegetation and crime in the tracts studied.

Mary K. Wolfe and Jeremy Mennis of Temple’s geography and urban studies department found that, after controlling for socioeconomic indicators, those census tracts with more greenery had less crime than those with less.

There is a caveat, however: A neighborhood rife with overUrban vegetation is very susceptible to the “broken window theory” as well. grown empty lots, it appears, will That is, poorly maintained patches indeed prove a crime magnet, while of greenery, instead of inviting eyes to one with well-kept green space will the street, signal a lack of social con- discourage crime.

This was originally published at trol in the area and thus fail to deter PhiladelphiaRealEstate.com. crime.

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Longtime Greater Philadelphia Chamber of Commerce executive Joseph W. Mahoney, Jr. passed away last week.

Mr. Mahoney joined the chamber in 1990. He served as executive vice president and oversaw the chamber’s public policy activities at the federal, state and city levels as well as outreach to governments in the surrounding counties.

“The passing of Joe Mahoney is a tremendous loss to the city and region,” Greater Philadelphia Chamber of Commerce President and CEO Rob Wonderling said. “He loved Philadelphia and will be greatly missed by all who had the honor to know him.”

9 MAY 2013

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PHARMACEUTICAL

Teva To Close Plant In 2017

WEEKLY BRIEFING

Report: SEPTA Needs $452M More

BY THE NUMBERS

26,000

With net income down 26.7 percent for the first quarter of this year, Teva Pharmaceutical Industries Ltd. said that it would close its West Rockhill, Pa., manufacturing plant in 2017.

About 40 of the 450 people working there were notified in April that they would lose their jobs.

Jobs supported by SEPTA

$3.21B

SEPTA’s economic output

AltheRx Names Chief Executive AltheRx Pharmaceuticals, a privatelyheld clinical development company in Exton, Pa., recently announced a restructuring that includes a $15 million financing, the appointment of Jim Bennethum as chief executive officer and the appointment of a new Board of Directors.

Effective immediately, Mr. Bennethum joins AltheRx as CEO from Becker Ventures, LLC where he served as an executive vice president. He has previously spent more than 20 years in senior leadership roles at Johnson Controls, Inc. HEALTH CARE

CHOP Building New Care Center in King of Prussia The Children’s Hospital of Philadelphia in planning to open a 115,000-squarefoot Specialty Care Center in a new development on North Gulph Road in King of Prussia.

CHOP will break ground this summer on the center, which will replace an existing one located on nearby Mall Boulevard. The new space, located in the Village at Valley Forge, will provide an additional 45,000 square feet, with the ability to expand up to a total of 195,000 square feet, to allow for future growth.

Construction will begin this summer and be completed in early 2015.

5

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T

he Southeastern Pennsylvania Transportation Authority is having its highest ridership levels in 23 years, yet is still confronting a “serious funding shortfall,” according to a new report from the Economy League of Greater Philadelphia and Econsult.

“As the legislature considers transportation funding proposals, the information in this report provides context and comparisons to other systems that demonstrate SEPTA’s importance to our region,” said Economy League Executive Director Steve Wray.

Among the report’s findings: SEPTA needs about $452 million in additional annual capital to work off its backlog over a period of 20 years.

62%

“Over the long-term, SEPTA will not be able to afford its current levels of service at State’s transit funding that status quo capital funding levels,” the report goes to SEPTA said. “Without an infusion of additional resources, the system will begin to shrink.”

SEPTA’s backlog of capital is estimated to grow from $4.7 billion to $8.5 billion by 2032.

Difference between SEPTA’s “If unaddressed, this means that 40 2013 budget and the percent of the system would ultimately be budgets of its peers eliminated; $100 million of savings in the short-run will cost $400 million of investments.

“Under this scenario, a mass migration from transit oriented communities — the Boston’s MBTA’s 2013 City and inner ring suburbs — would fuel capital budget another round of regional decentralization,” the report stated.

Lorenzo Pizzeria Reopens The iconic Lorenzo and Sons Pizza in South Philadelphia officially reopened its doors last week, 10 months after a massive fire forced its owners to close shop.

Half of the proceeds from Friday’s two-hour grand reopening party will go to support Philabundance, owner Giuseppe Pullizi said.

Lorenzo’s is open until 3 a.m. most nights and until 4 a.m. on Fridays and Saturdays.

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Union Tests Rat-Mobile IBEW Local 98 is taking the rat-mobile for a spin.

The minivan, designed to look like a crawling rat, comes complete with speakers in the ears and a tail.

Local 98 will continue to use the infamous inflatable rat for protests, according to CBS Philly.

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9 MAY 2013

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WEEKLY BRIEFING

DEVELOPMENT

Temple Drops Boathouse Plan

Council Honors Local Leaders The Arts and Business Council of Greater Philadelphia awarded the following individuals and organizations in a celebration Wednesday evening: G. Fred DiBona, Jr. Individual Leadership Award CAROLE HAAS GRAVAGNO

Temple University is no longer pursuing plans for a new boathouse near the Strawberry Mansion bridge on the Schuylkill River in order to study other options, the Associated Press reported.

Critics argued that Temple should have offered to create new green space in the city. The school’s East Park Canoe House has been closed since 2008, leaving rowers in tents, according to the report.

PNC Arts Alive Award for Innovation in Honor of Peggy Amsterdam PEOPLE’S LIGHT & THEATRE COMPANY Business & Arts Partnership Award: Large Business with an Arts and Cultural Organization PNC & THE BARNES FOUNDATION

Anne d’Harnoncourt Award for Artistic Excellence CLAES OLDENBURG Business & Arts Partnership Award: Small Business with an Arts and Cultural Organization GLOBE DEVELOPMENT GROUP & PHILADELPHIA SCULPTORS

Business Volunteers for the Arts Volunteer of the Year Award MARY ROSENBERGER Founder and CMO, Amare Inc.

PHILADELPHIA

Bike Share Deal Getting In Gear

Philadelphia Volunteer Lawyers for the Arts Volunteer of the Year Award KEITH JOSEPH, ESQ. Associate, Ballard Spahr, LLP

Creative Economy Award for Distinction in For-Profit Creative Field SHOOTERSINC

MAURA MCKENNA, ESQ. Solutions Consultant, LexisNexis

Business On Board Volunteer Leader of the Year Award MELISSA BLANTON, ESQ. Partner, Schnader Harrison Segal & Lewis LLP

Technology Connectors Volunteer of the Year Award JOHN TIGH Principal, The North Highland Company

Mayor Michael Nutter and Deputy Mayor for Transportation and Utilities Rina Cutler recently tested potential bike share vendors at the Academy of Natural Sciences for a city bike share program slated to begin next year, the Philadelphia Real Estate Blog reported.

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9 MAY 2013

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WEEKLY BRIEFING

EDUCATION

INNOVATION

NYC, Philadelphia Schools Face Off In Green Challenge

Fellowship Program Venture For America Coming to Philadelphia

Online grocer FreshDirect recently announced the inaugural launch of its Green Angel Fund Challenge, an urban agriculture focused competition between the Sustainability Workshop School in Philadelphia and the John V. Lindsay Wildcat Charter School in the Bronx.

The schools will each be guided by farmer mentors and compete to develop the nation’s most innovative hydroponic garden (based on yield and eco-friendly design), as part of a broader mission to solve inner-city food and farming issues — with the chance to win $10,000 along the way.

The Green Angel Fund is one of the first seed funds specifically focused on launching student-developed green ventures, according to a Fresh Direct press release.

Venture for America, a national nonprofit fellowship program that sends top recent college grads to startups, is coming to Philadelphia.

VFA recruits, selects, and trains young people who they think are high potential/ future company founders, places them to work at startups in cities investing in entrepreneurship, and supports them during their two-year fellowship.

VFA’s mission is to train the best and brightest to contribute to job growth and new enterprise creation.

Currently, there are 40 fellows working in startups across five cities.

This year, the program hopes to have 70 additional fellows.

Venture For America will be expanding to three more cities, including Philadelphia, this year.

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EDUCATION

Corbett Names Teacher of the Year Finalists Governor Tom Corbett and Secretary of Education Ron Tomalis recently named the 12 finalists for Pennsylvania’s 2014 Teacher of the Year award.

Four teachers from the Greater Philadelphia area were among the finalists.

Tracey Fritch Rose Tree Media School District Lori Gallagher Hatboro-Horsham School District Anthony Grisillo Rose Tree Media School District Nicole Miletto Hatboro-Horham School District

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9 MAY 2013

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WEEKLY BRIEFING EXECUTIVE BOOKSHELF

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Feed Wrangler With the end of Google Reader approaching, FeedWrangler has set itself apart from other RSS readers.

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9 MAY 2013

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POLITICS

Better Disclosure Laws Needed For Lobbyists, Lawmakers’ Gifts

Eric Boehm is bureau chief for PA Independent, a project of the Franklin Center for Government and Public Integrity

CONTRIBUTE Send comments, letters and essays to feedback@ regionsbusiness.com.

Opinions expressed by guest writers do not necessarily reflect those of Region’s Business.

HARRISBURG — A fancy French pen and an ornate Turkish robe are gifts.

Luxury box seats to watch the Philadelphia Flyers might not be.

That’s one in a series of fundamental flaws in how Pennsylvania state law requires the reporting of gifts, free travel and other “I’ll get the bill” arrangements between public officials and lobbyists. It seems as good a time as any to point out why those laws need to be rewritten, after the annual May 1 deadline for elected officials to disclose their gifts from 2012.

In case you’re wondering, Gov. Tom Corbett claimed about $18,500 in travel, lodging and hospitality during 2012 — mostly for conferences and a trade mission to France and Germany last summer.

The governor also disclosed about $500 worth of gifts, including a $250 fountain pen he received while on that trip to France.

Various Republican organizations picked up the tab for Gov. Corbett’s trips to Washington, Las Vegas and Tampa, Fla., for the Republican National Convention during 2012.

According to the Associated Press, the Legislature reported more than $43,000 worth of gifts and travel during 2012. But none of the legislative leaders reported receiving any such gifts.

But with Pennsylvania’s Swiss cheese reporting laws, it’s really impossible to know how much money was spent last year trying to peddle influence with the top guns in Harrisburg.

Under state law, public officials must disclose gifts valued at $250 or higher, but gifts from family and friends are exempted from disclosure altogether — which makes me wonder how wide the definition of “friends” can be stretched, when necessary.

And while the disclosure laws for lawmakers are pretty bad, the lobbyist disclosure requirements are even worse.

State law dictates that lobbyists only have to disclose specific lawmakers’ names if the lobbyist spends more than $650 per year.

Another glaring loophole is the exemption for “entertainment.”

In theory, this provision of the law assumes that tickets to see the Pittsburgh Steelers or the

11

PENNSYLVANIA

Revenues Up, But Not Enough

BY ERIC BOEHM

Pennsylvania Ballet are somehow not “gifts” in the same sense that a $250 French-made fountain pen is a gift.

I don’t know about you, but if I got to spend an evening in a Citizens’ Bank Park luxury box watching the Phillies on someone else’s tab, I’d consider that a gift.

In practice, the loophole means there probably are thousands of dollars in “entertainment expenses” that neither lobbyists nor lawmakers have to report each year.

Of course the state law also says that no official, lawmaker or candidate for office can accept a gift from anyone if that gift is intended to influence their actions.

With Pennsylvania politicians having such an unblemished ethical record, I’m sure that never happens.

But if you’re one of those people who just can’t trust a politician, then there are a couple of state senators who have an idea for you.

As part of a package of government reform bills, state Sens. John Eichelberger, R-Blair, and Michael Stack, D-Philadelphia, have proposed requiring lawmakers and executive officials to report all gifts, even those that fall below the current $250 threshold.

“The public deserves a little more information about how people spend their time and how much money is being spent on that individual as they do their business here in the Legislature,” Sen. Eichelberger said when the bills were introduced in March.

That’s a good place to start, but I wouldn’t hold your breath.

HARRISBURG — Pennsylvania has an extra $67 million in the bank with two months to go in the fiscal year.

But that won’t make the budget process any easier.

That’s because the budget proposal put forward by Gov. Tom Corbett in February assumed the state would have about $230 million in extra cash at the end of the fiscal year June 30.

The governor planned to use that extra money to plug some of the gaping holes in next year’s budget, mostly the result of $500 million in additional pension costs expected during the 2013-14 budget year.

So even though the state is ahead, it is also behind. Make sense?

After the official figures for April were released last week, administration officials backed off the higher revenue estimate.

“It’s pretty clear that we won’t end the fiscal year with that extra $232 million,” said Elizabeth Brassell, spokeswoman for the Department of Revenue. “It’s unlikely that we will experience any significant gains in the next two months.”

March and April are the key months for tax revenue from corporate and personal income taxes, respectively, she said.

But unexpected weakness in sales tax revenues have dragged down total collections for the year, she added.

In raw dollars, the governor’s budget anticipates about $28.8 billion in revenue this year, which includes that extra $232 million.

The Independent Fiscal Office, the state equivalent of the federal Congressional Budget Office, issued its own projections last week.

The IFO expects the state to collect $28.58 billion this year, which is almost exactly in line with the administration’s original projection, before it was revised upward in February.

If the IFO projection is correct, it leaves Pennsylvania about $222 million short of what is necessary to balance next year’s budget as the governor pitched it.

This article was originally published by Pennsylvania Independent at PaIndependent.com.

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9 MAY 2013

POLITICAL COMMENTARY

REGIONSBUSINESS.COM

Council Approves Plan To Advertise on City Property

Timothy Holwick is a freelance writer covering Philadelphia government.

Find more coverage at citycouncilmatters.com.

CONTRIBUTE Send comments, letters and essays to feedback@ regionsbusiness.com.

Opinions expressed by guest writers do not necessarily reflect those of Region’s Business.

On May 2, 2013, Philadelphia City Council approved a bill that outlines a plan for allowing advertising on municipal property.

The bill passed by a vote of 15-0, with Councilwoman Marian Tasco being absent, and Councilman Bill Green abstaining. The bill was co-sponsored by Council President Darrell Clarke and Councilman Bobby Henon.

Council President Clarke encouraged passage of the bill in large part due to the creative revenue opportunities creating by private proposals for advertising on municipal property.

It is difficult to estimate how much revenue the advertising could generate for the city, but most broad figures are in the tens of millions.

The bill points out that New York, Chicago, Dallas, San Francisco, Boston, and St. Louis are all presently generating millions of dollars from the implementation of municipal advertising programs.

In order for a company to place its adver-

tising on municipal property, the company must submit a proposal to an appointed committee who will review the proposal for its impact on the area around the property, and whether or not the message of the advertisement is something Philadelphia government would be comfortable with spreading.

The bill states that “with proper oversight and control, a coordinated municipal property advertising program can significantly improve the appearance, quality, and coordination of street amenities.”

Targeted street amenities include bus shelters, information kiosks, trash receptacles and public restrooms.

The bill points out that the City owns hundreds of properties with facades attractive to advertisers.

Furthermore, the plan may allow for private sponsorship of public facilities. The renaming of the Pattison subway stop by AT&T comes to mind as a recent example of this sort of revenue generation through sponsorship.

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Revenue is not the only sought-after benefit of the municipal advertising program.

If a company wishes to use any sort of digital advertising, the City of Philadelphia must be given access to the data portrayed on the sign.

Through a digital sign network, the City could commandeer a digital sign to help spread important announcements or information in the event of an emergency.

The bill also provides for brightness controls on digital advertising.

Council’s approval is only the first step in the creation of a municipal advertising program. Mayor Michael Nutter appears to support the bill and has stated that his Administration is working on a Request for Proposals so that a committee can begin evaluating potential advertisements for city vehicles, such as trash trucks.

Philadelphia residents can only hope the ads remain tasteful, but it is hard to deny any creative ideas that generate money for a City pinching every penny.

9 MAY 2013

POLITICAL COMMENTARY

REGIONSBUSINESS.COM

13

Legal Industry Will Prosper From Competition

Charlie Gerow is CEO of Quantum Communications, a Harrisburg-based public relations and issue advocacy firm.

CONTRIBUTE Send comments, letters and essays to feedback@ regionsbusiness.com.

Opinions expressed by guest writers do not necessarily reflect those of Region’s Business.

Lawyers have never enjoyed an exceptional approval rating in the court of popular opinion.

Shakespeare thought killing them should be the first order of business. Jokes about the profession are more prevalent than for virtually any other group.

So it was not surprising to see the cover of one of the country’s leading business magazines, Bloomberg’s Business Week, lead with the teasing “What do you call 176,00 lawyers at the bottom of the ocean?”

The punch-line, buried inside the publication, wasn’t so funny. “The future” was the answer.

The article detailed the demise of Washington litigation giant, Howery, where the bankruptcy trustee overseeing the firm’s dissolve wrote that they had slid “from boom to bankruptcy in less than 3 years.”

The article largely mirrors a recently released book, “The Lawyer Bubble: A Profession in Crisis.”

Written by Steven Harper a former partner at another legal powerhouse, Kirkland & Ellis, it chronicles the rise and fall of “Big Law.” It also details the “crisis” facing law schools today: Applications cut nearly in half in the past decade, first year

enrollment plummeting and a scarcity of jobs at the other end coupled with rapidly rising tuitions that create massive law school debt to pay off.

Somehow it comes as a great shock that the legal profession is a business, driven by the same bottom line realities as any other.

The large law firms that are pivotal to the economic life of any urban center and to the nation are a relatively new phenomena.

Forty years ago corporate consolidation and the dramatic escalation of government regulation and red tape made law firm growth inevitable.

Globalization, technology and explosions in housing, energy, health care and financial services spurred the demand for high-end legal services.

At the same time, the Watergate hearings and their aftermath made law schools more popularly attractive.

Increasingly high salaries commanded by those entering the workforce, especially from elite schools or with Law Review credentials, made law school the preferred post graduate track for many of the brightest and best.

No doubt there is serious stress among the largest law firms. Philadelphia has seen some of its mightiest — Wolf Block — fall.

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Around the country others have also gone the way of all flesh, most notably Dewey & LeBoeuf, a New York mega-firm of more than 1,000 attorneys with offices scattered around the globe, that went belly up in 2012.

But the vast majority of super-firms remain and are figuring out ways to prosper.

Salaries and partner shares aren’t always what they used to be. Clients are shopping more and more on price.

The days of legal business built solely on longstanding relationships has been replaced by a highly competitive environment.

Thousands of high-end lawyers are practicing in highly specialized niches.

As regulatory nightmares like DoddFrank, ObamaCare and the Internal Revenue Code continue to abound so does the demand for exceptionally skilled attorneys who can navigate their way through the complexity of congressional legislation or assist their clients in finding the legal keys to regulatory locks.

That’s what business is all about.

It’s why the “Big Law” firms that remain are daily figuring out new ways to prosper.

Competition ultimately produces better service/counsel at better prices and more value for the customer/client.

And competition is the driving force in the legal world today. That’s why so many large firms have proven themselves resilient and resurgent.

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9 MAY 2013

2013: YEAR OF THE INNOVATOR

REGIONSBUSINESS.COM

Why Philly Tech Week Matters

Josh Sevin is deputy director of the Economy League of Greater Philadelphia.

Steadily, but almost quietly, Philadelphia has become a hotspot for entrepreneurs.

The combination of great ideas, available capital and a welcoming environment have set the stage to make 2013 a breakout year for innovation and new businesses.

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The web: RegionsBusiness.com Facebook: Facebook.com/regionsbusiness Twitter: @RegionsBusiness Sponsored by

CONTRIBUTE Send comments, letters and essays to feedback@ regionsbusiness.com.

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How to sum up Philly Tech Week?

Not an easy thing to do given that this 10-day celebration of technology and innovation in Philadelphia took a quantum leap in its third year, attracting more than 18,000 participants.

The 110-plus events that took place across the city and region from April 19 through 28 ranged from thought-provoking to problem-solving to downright whimsical.

I counted at least 30 panel discussions on topics spanning social entrepreneurship, technology transfer, digital inclusion, women in technology, and more. There were hackathons aplenty, with NASA staging an international space apps challenge, a news hackathon, and the fifth edition of Philly Startup Weekend.

There was just outright fun with two nights of Pong on the Cira Centre, fighting robots, and a closing party at the Navy Yard that sold out with 800plus attendees. So Philly Tech Week — relentlessly and spiritedly organized by the folks at Technical.ly Philly — has evolved into a many-splendored thing and built a solid audience.

But what does it do for our region? I’d wager three big and important things: 1) It establishes and strengthens a sense of community Perhaps the most obvious, but all of these events bring together the broad diversity of individuals driving tech enterprises and initiatives in our region.

The result is hyper-charged community- and relationship-building within a sector that relies heavily upon both for creativity, innovation, and support.

Ample opportunities to meet and connect with the people powering our maturing tech ecosystem — college students, wannabe and established entrepreneurs, technologists, VCs, researchers — exist both within and across events.

2) It helps define exactly what Philly’s tech sector is about For a region that would benefit from more in-depth understanding of its strategic growth sectors beyond “eds and meds,” the roster of events itself brings into focus which tech sub-sectors or issues generate the most heat and attract talent in Philadelphia — whether it’s the growth of mobile app firms, strengths in health care IT, or efforts to

close the digital divide.

3) It helps change the perceptions about what Greater Philadelphia’s tech sector is and can be — both within and outside of our region Current energy around building and promoting Philly as a tech and entrepreneurship hub may rival that of the actual entrepreneurs building businesses here.

Mayor Nutter chose Philly Tech Week to take a delegation to New York City to promote our tech and entrepreneurship scene, and Select Greater Philadelphia organized a tour for foreign journalists to spur coverage and help shape understanding and perceptions abroad.

Those “retail” efforts to sell Philly’s tech story were complemented by the launch of two new video series that aim to do the same — a set of 60-second pitch videos by area entrepreneurs posted at Philly In Focus and the Developing Philly web series about the rise of Philadelphia’s innovation community.

Philly Tech Week ends up directly advancing two of the priority strategies identified in the World Class Business Growth GPS as crucial to spurring long-run job growth and wealth creation in our region — strengthening our entrepreneurial networks and marketing existing success stories.

There are a lot of ways to waste money on feel-good festivals and solid grounds for questioning their return on investment, but this one is both on to and helping to build something in Greater Philadelphia.

Of course, for the folks at Technical. ly Philly, telling our region’s evolving tech and innovation story is a year-long affair. I look forward to seeing how much further we’ve come by the time PTW 2014 comes around.

9 MAY 2013

2013: YEAR OF THE INNOVATOR

REGIONSBUSINESS.COM

15

Seven Things All Entrepreneurs Should Know

Robert D. Smith is the author of “20,000 Days And Counting: A Crash Course for Mastering Your Life Right Now.” More information is available at therobertd.com

CONTRIBUTE Send comments, letters and essays to feedback@ regionsbusiness.com.

Opinions expressed by guest writers do not necessarily reflect those of Region’s Business.

Warning: This article is not for the faint of heart.

1. This job is rough, tough, and most likely not for you.

The vast majority of people I talk to who want to become an entrepreneur are 100 percent certain they can leave their job, create something out of nothing, and be financially self-reliant within a short time. I, however, am 100 percent certain they cannot. If you think you are an entrepreneur, most likely you are not.

In 90 days, most of you will be out of business…and 90 days is a stretch. The odds are absolutely stacked against you. If I were a betting man, I would bet that your first attempt would fail. Quickly.

None of this is to say you should not believe in yourself if you want to be an entrepreneur. You should. You must. But believing in yourself without some sort of concept of reality is foolish, and it’s the trap most new entrepreneurs fall into.

Most of the time, people are not in a mental state where they can face rejection and start eating “no’s” for breakfast like I describe in 20,000 Days and Counting right away. If you start out eating 30 “no’s” a day unintentionally, you will get sick! And trust me, there will be a plethora of “no’s” in the beginning.

2. Don’t be foolish — test your idea.

One of the biggest reasons so many new entrepreneurs fail is because they have an idea they think will work, so they jump into it without actually knowing whether it will work or not.

Test your idea on a small scale before implementing it on a large scale. For example, if you’re an author (and yes, authors absolutely are entrepreneurs), you should always write a book proposal before investing the months or years it might take you to write the manuscript.

See if there is outside interest and the perception of value before you risk your life’s savings. If there is no interest or perception of value you can find…that might be a clue. So many people think they have “THE” idea, when in reality they only have a “so what?” idea.

3. Start by financing your business yourself.

The startup industry is booming right now. There’s so much venture capital out there that everyone thinks their idea is worthy of hundreds of thousands in angel investor dollars.

Everyone seems to think they have a

Google- or Facebook-level idea, but what they don’t think about is the fact that those were not overnight successes.

Watch the Facebook movie. They were busting their butts for years! They had already proven their value by the time the cash was rolling in the door.

Don’t wait on outside dollars. Finance it yourself. Remember that you are NOT short money; you ARE only short one idea — so find that one idea to make more money now. Today is critical.

4. You should not quit your day job right away.

This is the most obvious way to finance your entrepreneurship. What it takes to be an entrepreneur does not take full time immediately. The beauty of entrepreneurship is that you can test it while still having a full time job.

When I started managing Andy Andrews over 30 years ago, I backed myself up with three part-time jobs.

Oh, and if you think you don’t have the time to work a full-time job (or several part-time jobs) and work on your entrepreneurial dream, then you haven’t read Jon Acuff ’s Quitter. Buy it, right now.

IF YOU WALK AROUND CASUALLY SIPPING A CUP OF COFFEE EVERY MORNING, YOU ARE NOT AN ENTREPRENEUR. A TRUE ENTREPRENEUR IS RUNNING SO FAST, THEY PROBABLY HAVE FORGOTTEN TO EAT BREAKFAST AND TAKE A SHOWER.’ 5. There is only one number that matters.

When you launch a new business, especially if it’s online, you’re going to be pouring over all sorts of analytics, charts, spreadsheets, etc.

These numbers will seem important, but they’re not. There’s only one number any new entrepreneur needs to dedicate any amount of worry to — this number MUST have a dollar sign in front of it.

How much money are you making? Are you impressing your banker? If not, you are either doing something wrong or you’re missing a critical piece of the puzzle. Focus

all your effort into finding cash NOW. 6. Never assume anything about anyone.

The biggest mistake I’ve made as an entrepreneur is that I once thought other people knew what they were doing.

I assumed that if they had the degree or the company that says they knew how to do something…that they actually knew how to do something.

The majority of people you are going to need to help you out, whether it’s website creation, copywriting, branding, or anything else, will say they know what they’re doing, but it’s the minority who actually can deliver on that promise.

Finding an accountant who can count, a graphic designer who can do graphics, and a web person who can make websites is so much more difficult than it sounds.

The harsh reality is that there is no right answer. When you start, trial and error are your two biggest tests. The only semireliable quality you can go on is whether the person you are hiring has the “people” quality. Do they leave you with a good impression? Do they know how to communicate?

Can they write an email without sounding like a fool? If you can answer “yes” to those questions, that’s a start.

7. You need to go to bed crying and wake up vomiting.

If this is going to work, everything in your being has to be so intense that these two functions become regular. You have to be so passionate that it feels like your hair is on fire 24/7. If you walk around casually sipping a cup of coffee every morning, you are not an entrepreneur. A true entrepreneur is running so fast they probably have forgotten to eat breakfast and take a shower. It is impossible to be an entrepreneur and stand around the water cooler with a cup of coffee.

It will not happen.

Some of this post may have discouraged a few of you. If so — good! The world needs less passionless entrepreneurs. However, if you made it through…and you STILL possess a desire to make whatever your venture is work… then I hate to say it, but you should definitely go for it.

Jump right in, but do it with a sense of reality. Keep these seven things in mind, work, work, and then work some more… and you just might make it.

Never lose sight, however, of what makes every business successful — people.

You are now officially in the people business. Congratulations!

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9 MAY 2013

2013: YEAR OF THE INNOVATOR

REGIONSBUSINESS.COM

Saunter Team Launches Site DIARY OF A STARTUP

Saunter founder Adam Kearney is at last able to relish in the soft launch of his event-listings site for the arts, which can now be viewed at www.artsaunter. com.

Region’s Business caught up with Mr. Kearney to discuss Saunter’s “MVP” and his entrepreneurial — and philosophical — affinity to translating ideas into substantive products.

In his words: tudying philosophy in college, I was exposed to many individuals who valued ideas over action.

This always annoyed me. To have any value, one must think and act. You cannot tend to just one or the other.

If you tend only to thought, your idea will remain in a solipsistic state. If you tend only to action, your ideas will be without meaning, purpose or principals. You must think, act and then repeat.

This translates well over to the startup world. To help me develop my idea, I reached out to hundreds of individuals involved in the art world to get their feedback. I immediately put my idea out there in its raw form to have a small community help shape it.

S

Now with a grand idea outlined, we have stepped back to the beginning to focus on what our minimum viable product (MVP) is. With our MVP established — music and visual art event listings accompanied with reviews of the artists — we knew it was time to take our first step of action.

A few weeks ago, we had a soft launch for the first iteration of Saunter.

Already being the most comprehensive event-listing site for both music and visual art in Philadelphia, our first users are quite happy.

In fact, 54 percent of our users are returning on a regular basis (quite a high percentage for an MVP).

We are now beginning to develop our second iteration — more on that next time.

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CAPITAL SEEKERS

Business: Green Monkey Dev Founders: Dmitry Sumaroka, Aran Ploshansky, Leonid Sklyut Contact: inquiries@ greenmonkeydev.com

BY BRANDON BAKER Twenty-something Green Monkey Dev founders Dmitry Sumaroka, Aran Ploshansky and Leonid Sklyut are determined to find success — but not if it means taking barking orders.

“It’d be more ideal to be selfemployed and feel like we’re doing exactly what we want to do. And what Dima and I want to do is develop mobile applications and Web applications,” said Mr. Sklyut, who, along with Mr. Sumaroka, is a soon-to-graduate student at Rutgers.

The trio gave birth to Green Monkey Dev (the name has no real story behind it) in February

2012. Typical of today’s youthlaunched startups, the three work largely improvisationally — in homes and coffee shops — though the company lists Voorhees, N.J. as its home base.

The three met as students and instantly knew they wanted to create a company from the ground up. Mr. Sumaroka said he had networked through a role with Artisan Mobile, Inc., and drew from his student-worker experiences to build a client base.

The company is currently working on an ecommerce site and is negotiating work with international customers — at the moment, one in Moldova.

Green Monkey Dev launched its website in April, and will begin a “viral social media” beta service starting in September.

The amount of money the company seeks to fundraise remains unspecified, but its founders have their scopes aimed at First Round Capital.

9 MAY 2013

2013: YEAR OF THE INNOVATOR

REGIONSBUSINESS.COM

17

1DocWay Wins Wharton Business Plan Competition Student team 1DocWay won the $3,000 Grand Prize of the inaugural Wharton Social Venture Business Plan Competition.

The prize was awarded at the Social Venture Final Round in April after finalists delivered pitches before a judging panel of experts in entrepreneurship, venture capital, technology, and social impact.

1DocWay is an online platform that helps hospitals expand psychiatry inpatient and outpatient revenue by connecting to underserved and rural patient populations.

Its HIPAA-compliant video chat platform transforms any room with a webcam and internet connection into a doctor’s office helping patients access psychiatrists quickly and easily.

Rural, elderly, and other underserved patients can schedule

appointments online, building hospitals’ referral base and reducing the high cost of co-morbidity — or incidence of both chronic physical and mental illnesses.

In the past year 1DocWay has implemented more than 2,000 doctor-patient sessions. In addition, 1DocWay has received recognition as a Wharton Venture Initiation Program selection, and as a winner of Independence Blue Cross’ IBX Game Changers Challenge and the Wharton Venture Award.

The Wharton Social Venture Business Plan Competition, held for the first time this year, was open to both individuals and teams with high-impact, sustainable business ideas that address a pressing global social issue.

The other finalists were: — Energize the Chain: Using cell phone towers to power refrig-

eration of vaccines in developing countries.

— Toilets for People: Building private, affordable, sustainable, and safe toilets for the 2.6 billion people suffering from inadequate sanitation in the developing world, particularly in flood-prone areas.

— The Social Loan Company (SoLo): Developing a next generation credit-scoring algorithm to unlock access to finance for the 2.5 billion unbanked people around the world.

— Social Enrichment Partnership Card: Designing a discount card to help economically disadvantaged individuals and families afford a variety of products and services.

— Bridging Communities Fund: Managing a student-led microloan program that empowers West Philadelphia entrepreneurs and small business owners.

1DocWay cofounder Samir Malik speaks at a 2012 conference.

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9 MAY 2013

REGIONSBUSINESS.COM

HEAD OF THE

TABLE

The numbers in Philadelphia reflect the national trend: Women are the minority in—or absent from—top roles in the biggest companies. But local powerful women don’t want to make history; they just want an equal chance at success.

STORY BY KAREN FRATTI | ILLUSTRATION BY DON LEE

T

here is no shortage of messages for women in the workforce these days. The media has exploded in the past year with tales of Yahoo!’s Marissa Mayer and parental leave, Anne-Marie Slaughter scrapping the notion of being able to have ‘it all’ in The Atlantic, and Facebook’s Sheryl Sandberg’s message of leaning in at the conference table.

Even as—very small—numbers of women take their seats on boards and in the C-suite, feminism has become a dirty word. It’s a term that even Ms. Mayer associates with women with a “chip on their shoulders.”

While old stereotypes of the militant female activist seem to be working against the very women they wanted to empower, the fact remains that only 4.2 percent of Fortune 500 and 1000 companies have female CEOs or board members.

In the Philadelphia region, the numbers are just as discouraging if you’re looking for diversity.

According to the Forum of Executive Women, a Philadelphia-based organization dedicated to raising awareness about the importance of diversity in the business world, only 94 women held board seats out of 828 in regional companies and only seven were led by women of color.

It’s not any better in the executive suite: Women hold only 66 of 609 top executive positions, and there are 68 companies in the region that have no female executives at all.

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BY THE NUMBERS

4.2%

Fortune 500 and 1000 companies with female CEOs or board members

94/828

Women who hold board seats out of regional companies

7/828

Women of color who held board seats out of regional companies

66/609

Women who hold top executive positions out of regional companies

68

Regional companies with no female executives

Gina Rubel, founder and president of Furia Rubel, a public relations firm based in Doylestown, echoes the refrain of many women, and men, in the corporate world.

She groans, “I’m so tired of hearing ‘the first’ woman, African American, the first anything. It’s 2013, why are we still here?”

No one has a very good answer. But it appears to have something to do with changing the culture of companies, nonprofits, and firms individually. In both their attitudes and their actions, Philly’s female executives can be proud of taking part in changing the dialogue, even if it is at a slower pace than most would like.

Ms. Rubel, born and bred in the city, has a very South Philly sort of attitude about juggling her career and family.

“We live in this culture where everyone’s supposed to be networking. It’s a challenge if you’re a working mother,” she said. “You’re supposed to be out networking from 7 a.m. until 6 p.m. at night. Well, good luck with that.

“I don’t do breakfast events unless I’m there for some other, useful reason. But

I’M SO TIRED OF HEARING ‘THE FIRST’ WOMAN, AFRICAN AMERICAN, THE FIRST ANYTHING. IT’S 2013; WHY ARE WE STILL HERE?’ — GINA RUBEL, FOUNDER AND PRESIDENT, FURIA RUBEL

I’m the boss now, I don’t have to answer to anyone. You hit forty something and you think ‘OK, I’ve arrived, now what?’ And you get less interested in what the world thinks and more interested in what you can really accomplish, whether that’s raising your children the way you want or doing great work for your clients.

“I don’t feel guilty about missing those breakfast events, but I do feel frustrated that we live in a culture that still does not value family over business.”

There’s also the fact that at the very top and at the very bottom, it’s sometimes just not possible to skip the event.

Jill Bronson, a regional partner in charge of Drinker Biddle in Philadelphia, gets excited when she starts talking about her schedule, one that could drive even the toughest person into the ground.

“Of course there’s a career-life balance, but the reason for that is because [my work] is really exciting work,” she said. “A transaction can consume your days, and when we finish, the client goes home. But we move right onto the next one. There’s

74%

Employees of non-profit employees in southeastern Pennsylvania who are women

56%

Executives of non-profits in SEPA who are women

$89,534

Average salary of a female non-profit director in SEPA

$118,652

Average salary of a male non-profit director in SEPA

20 a clear struggle there, but I would not want to give that part up.

“For me to say, ‘I can leave every day at 4 p.m.,’ that might work in certain jobs, but in my job that’s not really possible.

The more responsibility you have, the harder it is to have certain, simple rules about schedules.”

It’s all about being flexible, and if there has been one dramatic change in organizations over the past decade, it’s that employers and employees are finally talking about how to make it work.

Ms. Bronson sees it in law firms.

“There is now a lot of conversation among working parents talking about how they’re dealing with child care or [other issues], and those conversations weren’t taking place 10 years ago,” she said. “It starts even when you’re interviewing at a firm now.”

But it’s not institutional just yet.

“We’re smaller, so we don’t have set policies like at Google or Yahoo! It’s done more on an individual basis, by clearing it with department heads,” she said. “We don’t want to lose [someone’s] knowledge and skills, so there’s much more flexibility in one-off situations.

The flip side is that we’re glued to our Blackberries.”

There’s something to be said for that Blackberry. It’s no wonder that as our culture has become more mobile — from our tablet to the general consensus among the corporate class that younger employees tend to jump ship more often when a company can’t meet their needs — that businesses are exploring policies for career-life balance, for both genders.

“Women need to be treated as equals to men,” said Ms. Rubel. “But men also need to start feeling just as comfortable as women asking to leave early to go to a parent-teacher conference, or whatever it is.”

Joan Block, co-founder and executive director of the Hepatitis B Foundation, based in the region, has never spent time in the corporate world but is enthusiastic about the non-profit sector, where she sees more women moving to the top.

“I haven’t done any studies, but I think that’s because the non-profit sector is more aligned with women’s traditional assets and values,” she said. “The nonprofit world, or any organization focused on funding, is all about collaboration, relationship building, and telling a compelling story. We sell stories, not a product or a service.”

Network Now founder Jamie Broderick would agree.

9 MAY 2013

REGIONSBUSINESS.COM

“I think women take relationships more seriously and communicate better. They’re better ‘true networkers,’” she said.

Women dominate the non-profit sector, but they’re still not winning the equality battle.

In southeastern Pennsylvania, 74 percent of total non-profit employees are women and 56 percent hold executive positions, according to a study done by the Bayer Center in 2011.

And yet, those directors still earn less than their male counterparts, earning an average of $89,534 annually compared with the $118,652 annually for males.

The numbers never align with the anecdotes about female success.

For now, there’s no easy solution. The trick, judging by the mission of organizations like the Female Executive Board, the 30% Coalition, or Vision 2020, is getting women into the C-suite, and then eventually onto boards.

Jeane Coyle was recently named the first female CEO of First Federal Bank of Bucks County in Bristol.

“Our board had eight members, and one was female for the formal selection process. For the informal selection process, they called on my peers.

And only one in the four of them was female,” she explained of the hiring process. “So just stop and think about that.

“Men were making the decision. Even at this point in the corporate world, you’re often still in the position where men are making the decision.”

It takes a generation, according to Tara Weiner, managing partner of Deloitte’s Philadelphia office.

“The dialogue needs to focus on getting women into the C-suites, so it gets them in the pool to get on boards. It’s important we have diversity in thought to represent the shareholders, the employees,

WE’RE SMALL ER, SO WE DO N’T HAVE SET POLICIES LIK E AT GOOGLE O R YAHOO! IT’S DONE MORE O N AN INDIVIDUAL B ASIS, BY CLEARING IT WITH DEPARTMENT HEADS. WE DON’T WA NT TO LOSE [SOMEONE’S KNOWLEDGE AND SKILLS, SO THERE’S MUCH MORE F LEXIBILITY IN ONE-OFF S ITUATIONS. T HE FLIP SIDE THAT WE’RE IS GLUED TO OU R BLACKBERR —JILL BRON IES. SON, REGION AL PA RTNER, DRIN KER

BIDDLE

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9 MAY 2013

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even the vendors,” she said. “It brings more perspective and removes the blind spots.”

Ms. Coyle is inspired by the changes in the past decade, even though she sees how slow the struggle moves.

“We spend a lot of time talking about how women can support each other, but we need to put the focus on getting [women] out there in the running for these positions,” she said. “I feel very positive right now, but if I go back even 25 years when I was younger and looking ahead of me, men couldn’t relate to professional women.

“But now they all have daughters who are professionals and they can identify with the fact that females are doing more, and rising to higher levels, and they were open [to considering a female for the CEO position].

They have to be able to visualize you in the job.

“I hope the board makeup will be different in five, eight years, and then the people making the decisions will look different.”

Ms. Weiner has seen some companies look to a European model, where there are diversity quotas for boards.

“I am beginning to see term limits and age limits on boards. Another tangible step is an awareness when you’re looking to fill an executive position,” she said.

“Looking at profiles of skills and attributes — it may take a little longer, and the person may be a little less traditional that the person they’re replacing, but you need to make sure you get the right person.

“It’s slower, but it gets done. To get diversity into board roles, it takes a whole generation.”

One thing is clear, though. Diversity on boards and in the C-suite makes a more balanced company.

“No question, from my personal experience, that men and women think differently. Their life experiences and perspectives are different and we bring a different approach,” said Ms. Weiner. “I don’t think any one gender alone leads better, but some of the things I saw [when working on a gender diverse project]: It was game changing.”

She continued: “Most high-performing organizations accommodate and facilitate a balance. You don’t want people to leave the company because it doesn’t fit their life at a particular moment.”

Ms. Coyle is looking forward to taking on her role, and she’s already thinking about diversity.

“I don’t pursue gender, but I am huge on diversity.

Diversity of thought — people who come from different backgrounds. The more heads in the room, the better.

And that helps women, too,” she said.

“I applaud younger leaders challenging the status quo and challenging everybody,” said Ms. Weiner. “It shows that women want it passionately and know how to act on achieving it....but we’re not there yet. No one likes where we are.”

She concluded: “To succeed in the 21st century, you need a 21st century talent pool. Companies that aren’t focused on diversity are short circuiting themselves.”

It’s not just about equality, but about being agile and adapting with the times. That’s business 101.

Karen Fratti is a freelance writer living in New York City.

TO SUCCEED IN THE 21ST CENTURY, YOU NEED A 21ST CENTURY TALENT POOL. — JEANE COYLE, FIRST FEDERAL BANK CEO

22

9 MAY 2013

FINE ESTATES PREVIEW

REGIONSBUSINESS.COM

Breathtaking Views in Chester County This home was taken off the market through the winter months, but now it is back.

This is the most pristine, amazing and incredible view in all of Chester County, according to its listing. Lose yourself in the serenity of your front porch as you gaze at the horses and enjoy panoramic views of Marsh Creek Lake.

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In addition to five bedrooms and a threecar attached garage, the main home boasts a newly renovated kitchen with custom cabinetry, whole house generator and finished basement with theatre room.

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For more details, call Erica Lundmark of Prudential Fox & Roach at (484) 875-2600

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9 MAY 2013

REGIONSBUSINESS.COM

REAL ESTATE

Report: Abatement Revived Construction Market

BY SANDY SMITH Is Philadelphia’s 10-year tax abatement program a shot in the arm for the local real estate market or a giveaway to builders and buyers who really don’t need it?

Economist Kevin Gillen, who previously came to the first conclusion in a study of the tax abatement, has revisited the subject and reached pretty much the same conclusion again in a report funded by the Building Industry Association of Philadelphia and the Greater Philadelphia Association of Realtors.

According to his analysis, the tax abatement sparked a dramatic reversal of fortune in the city’s housing construction market, both in absolute terms and relative to its suburbs.

New construction surged 263 percent in the city after the

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abatement was expanded in 2000 to cover new construction and improvements in the city.

After a recession-related dip from 2000 to 2002, construction surged again, climbing 417 percent from 2002 to 2004; during the same time period, construction rose only 1.7 percent in the suburbs. And the benefits continued to flow after the 2008 housing market collapse. Since then, housing starts rose 64 percent in the city while falling 8.2 percent in the suburbs.

Another noteworthy finding is that not all of the benefits of the abatement have flowed to the better-off. According to Mr. Gillen, the single largest owner of tax-abated properties is the Philadelphia Housing Authority, with 531 such properties.

Including the PHA, five of the 15 biggest owners of tax-abated

$3.65 M (6005156)

$965,000 (5962964)

properties specialize in affordable housing, with 786 properties among them.

Still, that number represents only five percent of all tax-abated properties citywide — and the great bulk of the tax-abated construction is concentrated within a two-mile radius of City Hall.

While Mr. Gillen argues that a spatial analysis that adjusts for the higher density of everything in Center City would show that abated properties are actually more evenly spread across the city, these two stats taken together still raise issues of equity — and those issues have caught the eye of some on City Council, most notably Councilman W. Wilson Goode, Jr., who has proposed legislation seeking to curtail the abatement program.

The abatement is necessary, he said, because of the mismatch

5 beds | 6 full, 3 partial baths Timeless & Elegant describe this true estate in prestigious Gwynedd Valley. Built by the builder, for the builder, the residence is sited on over 1.5 acres and offers over 11,000 sf of living space. This home was designed for those with the most discriminating taste and an appreciation for fine living.

5 beds | 5 full, 1 partial baths Meticulously maintained, solid built, Philomeno & Salamone estate home offers nearly 6,000 sq.ft. of living space on 3/4 acres w/3 bay garage. Conveniently located on a private cul de sac in desirable Blue Bell,this home was designed to entertain with its’ custom finishes t/o including newly renovated gourmet kitchen.

936 N Penn Oak Rd, Lower Gwynedd, PA

(215) 641-2727 (office) (267) 419-1454 (direct)

(215) 850-1305 (cell) (215) 999-5817 (fax)

417%

between the city’s high construction costs and its low income levels and house prices.

Increase in new construction in The city’s strong union tradi- Philadelphia from 2002 to 2004 tions help keep construction costs higher than they might otherwise be, and builders’ efforts to rein in costs by using the most cost-effective labor, be it union or Increase in new construction non-union, have caused friction in the suburbs from at a number of construction sites.

2002 to 2004 As tax abatements have also produced an upward bump in house prices, the abatements are in effect subsidies to the builders.

Are they the best way to Increase in new construction address the mismatch between in Philadelphia after 2008 the cost of building a house and what buyers can afford to pay for one? We have our doubts too, but at least the issue is being discussed once again.

Decrease in new This article was originally construction in the suburbs published at PhiladelphiaRfrom 2002 to 2004 ealEstate.com.

1204 Hunt Seat Dr, Lower Gwynedd, PA

Nicole Miller-Desantis

BY THE NUMBERS

1.7% 64%

8.2%

$1.125 M (6196317)

$948,500 (6196308)

5 beds | 3 full, 1 partial baths Tastefully decorated colonial in desirable Polo Club Estates in the heart of Gwynedd Valley. Sited on over an acre, this well positioned, brightly lit home has improvements throughout. Hardwood flooring, custom paint, newly renovated powder & mud rooms along with numerous other finishes that highlight this beautifully maintained home.

4 beds | 3 full, 2 partial baths Sited on a nearly 1 acre wooded lot in popular Penn Oak, this pretty stone colonial boasts nearly 7,000 sq. ft. of living space w/ its full, finished, walk-out basement. This home offers a bright, open floor plan with access to the outdoors from nearly every room. Kitchen w/ Breakfast Room is welcoming and provides access to large, rear deck for easy entertaining.

Blue Bell Office 686 Dekalb Pike Blue Bell, PA 19422

9 MAY 2013

REGIONSBUSINESS.COM

REAL ESTATE

25

Renderings Released For Grove at Cira Centre South

BY MATT STRINGER

The renderings for the Grove at Cira Centre South have been released by Erdy McHenry Architects, the firm that is designing the building for Brandywine Realty Trust in conjunction with architect Cesar Pelli, the Cira Centre’s master planner and the lead architect for the original Cira Centre.

The renderings say all that needs to be said about the project, which is nothing short of elegant.

When completed, the 850-bed tower will offer a one-to-one bed-to-bathroom ratio and feature a rooftop swimming pool, media lounge and a 24-hour fitness center.

Residents will also have access to a full concierge level providing hotel-like amenities throughout the day, including coffee service, a library technology center and first-floor retail.

Brandywine first thought about shifting gears from an office tower for the site to market-rate housing in the mid2000s. Then, after the market-rate residential and commercial real estate market collapsed in the wake of Lehman Brothers’ failure in 2008, it switched to student housing, which did not suffer the same setbacks the rest of the market experienced.

Ample common areas, including numerous study lounges, will be designed to accommodate social and academic interaction. To foster a sense of community and promote resident engagement, the property will regularly host a variety of activities.

A highly trained, professional staff — including a general manager, leasing manager, community assistants and a courtesy officer for security purposes — will serve residents.

Through a partnership agreement with

Brandywine, Campus Crest Communities will act as property manager of the completed 30-story tower.

Brandywine will offer tenants parking at the much-maligned 11-story parking garage behind the Grove at 31st and Chestnut streets. It will cover the garage (and try to silence some critics of the garage’s design) with a green roof and a one-acre public space that will serve as an anchor between the Grove at Cira Centre South and the Walnut Tower at Cira Centre South.

Mr. Pelli will also design the Walnut Tower, a mixed-use office, retail, and residential tower at 30th and Walnut streets scheduled to begin construction in 2014 as the last phase of the Cira Centre South project.

This is the second student housing project involving Campus Crest in University City. The company is also responsible for Chestnut Square on the Drexel University campus, which will be completed later this year.

This article was originally published by the Philadelphia Real Estate Blog at PhiladelphiaRealEstate.com.

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9 MAY 2013

REGIONSBUSINESS.COM

REAL ESTATE

Buildings Then & Now: Finding a Future for Fast Food Pioneer

The former Dewey’s Famous location at 208 S. 13th St., most recently home to the Letto Deli.

Firefighters put out hot spots after a 1969 fire that damaged the 13th Street Dewey’s.

SANDY SMITH

BY SANDY SMITH

T

he restaurant categories now known as “fast food” and “quick-serve” actually have a long and even distinguished pedigree in a number of American cities, where local entrepreneurs found a need for small eateries where patrons could dine on simple, inexpensive fare served quickly.

Some, like Washington’s J.W. Marriott, built empires on the foundation of their early fast-food eateries — the global hospitality giant got its start with a chain of DC restaurants called Hot Shoppes.

Others, like Philadelphian Dewey Yesner, were not as fortunate; their fastfood fortunes faded in the face of competition from better-funded chains and franchisors.

But even their legacy lingers on in the spaces that housed them.

If you walk around Center City, you may notice an occasional storefront that features wood paneling or trim and some form of trapezoidal signage, such as this now-vacant building at 13th and Chancellor streets in the Midtown Village-Gayborhood section of Washington Square West.

These all once housed locations of Dewey’s Famous, Philly’s homegrown fast-food chain and late-night hangout.

Founded in 1940, Dewey’s began as a simple lunch counter serving burgers, hot dogs and malted milkshakes. The chain expanded rapidly after World War II; at its peak, there were 18 Dewey’s Famous restaurants scattered around Center City.

Dewey’s adopted a distinctive treatment for its restaurants in the mid1950s, most of which were storefronts in existing buildings; the 208 S. 13th St. location, built around 1958, was one of the few freestanding Dewey’s outlets opened in the decade.

What hamburgers were to White Castle, malted milk was to Dewey’s — the foundation of its business. Although hamburgers and hot dogs were on the menu from the start, early stores prominently advertised malted milk with ice cream for 10 cents, and the chain’s early advertising referred to the outlets as “Dewey’s Famous Malted Milk Stores — No Better Food at Any Price.”

While the stores and their menus both expanded in size, the slogan remained a Dewey’s trademark until the very end, when the Dewey’s at 15th and Locust

BOB SKIBA

streets closed in the mid-1980s.

According to historian Bob Skiba, the “Gayborhood Guru,” the 13th and Chancellor location was one of two that attracted significant gay patronage, located as it was close to the center of the city’s sub rosa gay nightlife.

The other, at 219 S. 17th St. (also at Chancellor, near Rittenhouse Square), was the site of one of the earliest gayrights protests — a series of lunch-counter sit-ins in 1965 to protest its policy of refusing service to homosexuals and anyone else who looked non-conformist.

The protests succeeded in overturning the policy. This location is now the allnight diner Little Pete’s.

A fire severely damaged the 13th Street store in 1969, but it was rebuilt and soon had its old clientele back. What fire could not do, competition from spreading fastfood chains did: this Dewey’s succumbed in the late 1970s.

After its demise Lester Ketters and his partner Larry reopened it as The Ranch.

In 1981, they renamed their place The New Pirate Ship, an homage to a nearby gay bar, then renamed it Captain’s Quarters later that year.

They sold the restaurant the following year to Egyptian owners who converted

it to a Middle Eastern restaurant named The Pyramids.

After The Pyramids closed, the building housed a couple of forgettable eateries. Its most recent occupant was a Korean family who opened the Letto Deli in the late 1990s. After the building’s owner hiked the rent, the Letto Deli closed in 2009.

Since then, the building has stood vacant. Superstar chef Jose Garces announced in 2010 plans to add it to his expanding restaurant portfolio as a German eatery called Frohman’s Wursthaus.

Two years later, he abandoned those plans, citing overextension.

Though it has sat empty for three years, the building does not look much the worse for wear and is in good structural condition inside and out. On the inside, its basement has been completely cleaned out and its floor supports restored.

Fameco Real Estate is currently shopping the structure around several potential restaurant tenants; none have yet indicated firm interest in the space and offers are still being entertained.

This article was originally published by the Philadelphia Real Estate blog at PhiladelphiaRealEstate.com.

28

9 MAY 2013

REGIONSBUSINESS.COM

OPINION

City’s Corporate World Can Do Better 11%

Board seats at the top 100 public companies in the region occupied by women

41%

Boards in Philadelphia with no women

series of recommendations including a bill introduced by my office in Philadelphia City Council on March 14 that will require any company seeking to do business with the city to disclose female participation levels.

O

Blondell Reynolds Brown is a Philadelphia Councilwoman At-Large.

CONTRIBUTE Send comments, letters and essays to feedback@ regionsbusiness.com.

Opinions expressed by guest writers do not necessarily reflect those of Region’s Business.

ne year ago, March 7, 2012, I was disturbed and perturbed.

I had just read a report authored by Pat Coulter, President and CEO of the Urban League of Philadelphia, about the shockingly low level of female participation on executive boards; an “assault on women’s rights” was coming from Washington D.C. and state houses across the nation; and a certain radio “entertainer” had just thought it appropriate to call a Georgetown law student a vulgar name when she testified in favor of mandatory insurance coverage for contraception.

To add insult to injury, this perfect storm of unacceptable news was hitting its peak during Women’s History Month. I had quite frankly had enough.

As a result, I called for hearings to investigate how to increase the number of women on executive boards. What resulted was a year long process that included significant research, collaboration with stakeholders from across Philadelphia and two public City Council hearings.

On March 14, 2013, I submitted to my colleagues the official report: “Women on Corporate Boards: We Can Do Better.”

The findings are shocking even to those of us who have lived and breathed this issue for years.

Key Findings: Women equal 46.6 percent of the workforce nationally Women equal 11 percent of board seats in the top 100 public companies in the region Women of color equal less than 1 percent of board seats in the region Forty-one percent of boards in Philadelphia have zero women In 1976, women occupied approximately five percent of Fortune 500 board seats In 2011, the number had grown to 16 percent If we continue “progressing” at the current rate, my 16-year-old daughter will be 75 years old before we see as many women as men sitting around executive board room tables. That is a statistic that we simply cannot continue to accept.

As a result of the report, we issued a series of recommendations that will move the needle on this issue.

At the end of the report, we detailed a

Other recommendations include: Encouraging businesses to sign an agreement, committing to using their best efforts to increase the number of women in executive positions and on corporate boards Search firms should be encouraged to include pools of qualified women on their slates for executive officer and board positions Business organizations and women advocacy organizations should join forces to create more networking opportunities that bring together leaders of the female business community and executives/nominating chairs of larger corporations Somewhere in a Philadelphia elementary school right now is a young girl who will be a future Philadelphia mayor.

I intend to do everything within my reach, from where I sit, to ensure that she is not having the same conversation decades from now.

Increasing the number of women on executive boards and in senior leadership positions translates into equal paychecks for men and women who perform identical tasks.

The mission continues…

29

9 MAY 2013

REGIONSBUSINESS.COM

OPINION COMMENTARY FROM ACROSS THE WEB

Broad Street Run Shows Resilience After Boston

No Access, No Money In Sandy’s Aftermath

The 34th annual 10-mile run, sponsored by Independence Blue Cross, took place in the shadow of Boston, but it largely avoided being shadowed by it. The tenor was of “a resilience and a resolve,” as Mayor Nutter put it. Apart from a moment of silence before the start of the race, the tributes to Boston were more celebratory than somber, from the red socks worn by many runners to the colorful messages of brotherly love for a sister city.

With so many projects underway, now would be the ideal time for the state to address a critical issue long overdue: public access. It’s time to make sure the taxpayers who foot the bill for beach improvements have access to those expensive strips of sand they’re saving.

Unfortunately, a state Senate committee just declined to insert language explicitly requiring public beach access into a bill that would establish requirements for a “shore protection project” priority list. Members of the Senate Environment and Energy Committee said they didn’t want any impediments to efforts to restore the shore.

PHILADELPHIA INQUIRER EDITORIAL, 7 MAY, 2013

Long Past Time For Sun To Shine on PSU, Temple Collectively, the [state-related] universities received $514.9 million in the 2012-13 state budget, an amount that is set to remain unchanged in the fiscal year that begins July 1. That amounts to between 7 percent and 15 percent of their budgets. More than a halfbillion dollars in taxpayer funding should be reason enough to place the universities under the umbrella of the law and hold them to the same standard as any other public agency.

Ladle on top the systemic institutional failures that allowed a convicted child molester to roam free in Happy Valley for years and that should seal the deal.

PATRIOT-NEWS EDITORIAL, 1 MAY 2013

Not-So-Wonderful Life For Gov. Tom Corbett “So let me summarize,” the senior angel said. “Corbett is under fire from people who care about education, from people who are appalled at his attitudes about joblessness and other social problems and pretty much everyone else except the corporate fat cats who give him money. I think you can see why it’s imperative that we descend to Earth and help him understand that his life has been of real worth. Clarence, are you ready to convince Tom Corbett that he has had a wonderful life?”

“Actually, sir, I don’t think I am. The world would be better off if he hadn’t been around, or at least if he had avoided public office. The man is a menace.”

The Rally for the Troops has officially begun. @GovernorCorbett is about to take the stage. @PAGOP

MICHELE S. BYERS ON PHILLYBURBS.COM, 7 MAY, 2013

School Police Program Costly, But Worth Price It seems to us a depressing sign of the times when a school district begins to consider paying as much as a half million dollars to fund a program to put police officers in its schools, from elementary to high school. But that is what we have come to in the reality that is modern day America. ...Whereas in the 1960s and 1970s, even into the 1980s, the idea that a uniformed officer would be in a school would be more for public relations of the “Officer Friendly” variety, now we are forced to consider that a police presence in our institutions of learning are necessary to protect the lives and safety of those students, teachers, administrators and staff inside. So we do not believe that we can weigh in against the idea being floated in the Avon Grove School District that an annual expense of $400,000 is a “nice but not necessary” wish dreamed up by the administration. To ignore the fact that there are public dangers in our community and to do nothing to try to guard against them would be the height of folly in our current climate of violence.

BILL WHITE ON MCALL.COM, 3 MAY 2013

REGION’S BUSINESS A JOURNAL OF BUSINESS AND POLITICS © COPYRIGHT 2013 INDEPENDENCE MEDIA 350 SENTRY PARKWAY, BLDG. 630, SUITE 100C BLUE BELL, PA 19422 610.572.7112 | WWW.REGIONSBUSINESS.COM

@AshleyJHahn

@AxisPhilly

Mayor Nutter and Deputy Mayor Cutler checked out bike share demo at Rittenhouse Sq

Do “anything.” Do “something.” Plead folks along 2100 block of Bellmore Ave. where 8 lots sit vacant for 30 years.

30 APRIL 2013

30 APRIL 2013

@AButkovitz Just found out I’ve been endorsed by University City’s 27th Ward - makes 68 out of 69 Wards supporting my campaign. I’m honored and humbled!

3 MAY 2013

@BrettMandel Oh yeah! MT “@hollylynn106: Oh yeaah, we’re voting for Brett Mandel, Democrat for City Controller, May 21st ” 30 APRIL 2013

@MeredithShiner My dad always says: everything you need to know about a man you can learn on a golf course.

6 MAY 2013

@MelissaMDaniels Gov. Corbett signed a proclamation commemorating May as Motorcycle Safety Awareness Month - PA has 850K+ licensed motorcyclists. #pagovt

DAILY LOCAL EDITORIAL,

6 MAY 2013

1 MAY, 2013

EDITORIAL BOARD CEO and President James D. McDonald Editorial Director Karl Smith Associate Editor Terrence Casey

HOW TO CONTRIBUTE To contribute, send comments, letters and essays to feedback@regionsbusiness.com. Opinions expressed by guest writers do not necessarily reflect those of Region’s Business. We reserve the right to edit all submissions for content, style and length.

30

9 MAY 2013

REGIONSBUSINESS.COM

BY THE NUMBERS

KENTUCKYDERBY.COM

1789

First horse race course laid out in Lexington, Ky.

1875 Churchill Downs officially opens

1902

Churchill Downs is profitable for the first time

1952

The Kentucky Derby is televised nationally for the first time

16.5M

People who watched the televised broadcast in 2010

60%

2.3 trillion

SMS text messages sent in 2011

2.19 trillion

SMS text messages sent in 2012

19

Text messages sent per person daily in 2012

Moms who said that raising daughters is more stressful than raising sons

46%

Moms who said their husbands/ partners cause more stress than their children do

60%

Moms who said lack of time to do everything is the biggest cause of stress

3

Number of children that causes the most amount of stress for moms, according to a TodayMoms.com poll

72%

Moms who stress about how stressed they are

90%

Moms who stress about staying fit and attractive

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