Regions Business Oct 31

CONSTRUCTION EXCELLENCE AWARDS Q&A: STEPHEN STARR EVENTS PRESIDENT

Are you running your business like a monster?

Learn more at peco.com/SmartIdeas.

REGION’S BUSINESS

PHILADELPHIA EDITION

A JOURNAL OF BUSINESS AND POLITICS

HOW RESEARCH REVS UP REVENUE IN PHILADELPHIA Universities are doing more than just attracting the top students and faculty — they’re providing a needed economic boost which is fueling Philly’s local economy.

FAULTY WEBSITE JUST THE TIP OF OBAMACARE ICEBERG RITTENHOUSE SQUARE RESTORATION: MORE TO COME

31 OCTOBER 2013

ability

Noh-uh-bil-i-tee

Reference checks. Credit reports.

our Landlord Cooperation Program for residential landlords and our Program for commercial landlords.

Together these programs keep property

Visit: Email: Click:

31 OCTOBER 2013

REGIONSBUSINESS.COM

CONTENTS

3

“The only thing you know for sure is that if you do nothing, then nothing will happen. Nothing will change.”

— bill watkins

NOW HIRING Contact: Info@precisionrg.com

21 Rev Up Revenue: How Universities

Are Fueling The Local Economy

19 Fox Chase Focuses On 4 10 24 27

Business-Client Innovation

Weekly Briefing Political Commentary

25

1317-19 South Broad Street Philadelphia ,PA

Rittenhouse Square Restoration

Fine Estates Q&A: Simon Powles, President of Starr Events

Independence Media Corp.

350 Sentry Parkway, Building 630, Suite 100C Blue Bell, Pa. 19422 Email: feedback@regionsbusiness.com Advertising: advertising@regionsbusiness.com Online: regionsbusiness.com Facebook: /RegionsBusiness Twitter: @RegionsBusiness Subscription & Advertising Information:

PRESIDENT AND PUBLISHER James D. McDonald PHILADELPHIA EDITOR Rich Coleman BUSINESS EDITOR Michelle Boyles CONTRIBUTORS Brandon Baker, Eric Boehm, Charlie Gerow, Don Lee, Christopher Wink, Sandy Smith, Scott Staruch, Tim Holwick, Judy Curlee PROOFREADER Denise Gerstenfield ADVERTISING DIRECTOR Larry Smallacombe DIRECTOR OF BUSINESS DEVELOPMENT Deirdre Affel

Copyright 2013 Independence Media Corp. All rights reserved. Use of material within without express permission of publisher is prohibited.

Region’s Business is published weekly on Thursdays and online at www.regionsbusiness.com.

The published makes no representations or warranties regarding the advertising appearing in its pages or its websites.

417 Baltimore Pike Springfield PA

405 Keystone Blvd Pottstown Borough Montgomery Co., PA

1429 Walnut Street, Suite 1200 Philadelphia, PA 19102 866-Walnut 4 www.precisionrg.com

4

31 OCTOBER 2013

REGIONSBUSINESS.COM

DEALBOOK

BUSINESS

DuPont Splits, Spins Off Chemicals As part of ongoing restructuring efforts, Wilmington-based DuPont announced the spin-off of its performance chemicals segment last week.

The unit generated around $7 billion in 2012 revenue, but pricing for the pigment it makes plunged in the second quarter, sending the stream down by 56%.

Looking towards the future, the company will focus on three divisions of products addressing global population growth in the agriculture, bio-industrial and advanced materials sectors. The 200-year-old company joins a host of conglomerates that are cutting costs and focusing on their most profitable endeavors.

Hub Airport City Mayors Support Airline Merger

Along with the mayors of Chicago, Phoenix, Charlotte and several other major metropolitan cities, Philadelphia Mayor Michael Nutter implored Attorney General Eric Holder to reconsider the Justice Department’s lawsuit to block the proposed merger of American Airlines and US Airways.

In a letter dated October 23, 2013,

Doing what counts for your business.

At Susquehanna Bank, we’re doing what counts to offer competitive financial products and services, local decision-making and outstanding customer service to build lasting relationships — with people like you. Susquehanna combines the strengths of a community bank with those of a diverse financial services company. Thanks to our regional structure, we have local leaders with lending authority and teams who are committed to providing personalized service. Plus, we have the resources to provide funding ranging from small business loans to complex financing packages.

Call 800.311.3182 or stop in to talk about what we can do for you.

Doing what counts™. susquehanna.net | Member FDIC

the group asserts that combining the companies will benefit consumers and their communities.

A hub airport, they wrote, is only as good as the route network it supports and merging the companies would create a broader network than either carrier could build on its own.

INVESTING

SEC Proposes Rule Changes

The Securities and Exchange Commission last week proposed rules that would make investing in startup companies easier. Investing was previously limited to Accredited Investors, individuals making more than $200,000 annually and/ or had a net worth over $1 million.

Removing that restriction would open up investment opportunities to nonaccredited investors and allow entrepreneurs access to other sources of revenue.

“I was running my business like a monster without even realizing it.”

Bad energy habits are bad for business.

Let PECO Smart Ideas for Your Business help you save energy and improve your bottom line.

Learn more at peco.com/SmartIdeas.

PECO. We put our energy into helping you save energy and money.

©PECO Energy Company, 2013

57-13-102046_PECO_Monster_10x11.5_4C_r1.indd 1

www.peco.com

10/1/13 11:22 AM

6

31 OCTOBER 2013

REGIONSBUSINESS.COM

WEEKLY BRIEFING

FINANCE

Philly Invests Venture Capital According to a joint report issues by Ernst & Young LLP and the Greater Philadelphia Alliance for Capital and Technologies (PACT), more than $1B has been invested in Greater Philadelphia companies over the past 18 months.

Nationally, the number of venture deals in 2012 declined 3% and dollars invested declined 18%. Since 2008, the region has seen 10 IPOs and 162 acquisitions for a total disclosed value of $7.5B. The groups say analysis of five and a half years of data shows $4.1B of investment across multiple sectors.

President & CEO of the Ben Franklin Technology Partners of Southeastern PA, RoseAnn B. Rosenthal, said in a statement, “The results of this report are a further impetus for entrepreneurs to choose the Greater Philadelphia region to launch and grow their enterprise.”

GAMING

Pennsylvania Winery Association Goes Mobile

Mt. Nittany Winery

PHL Local Supports Responsible Gaming

FLICKR.COM/JMD41280

Oenophile’s will have an easier time navigating their way through the state’s wineries and trails, thanks to a new mobile-friendly website introduced last week by the Pennsylvania Winery Association. Compatible with smartphones, tablets and desktop computers, the site’s GPS positioning allows winelovers to locate nearby wineries, plot a trip through the countryside and learn

about upcoming events in the area.

The move is part of the state trade association’s month-long focus and new marketing initiative for the growing Pennsylvania wine industry.

The plan also includes a new winecolored logo that will begin appearing at wine festivals, fairs, tasting rooms and elsewhere across the state over the coming months.

PHL Local Gaming presented the Philadelphiabased Council on Compulsive Gambling of Pennsylvania (CCGP) a check for nearly $4,000 last week, an amount equal to $5 per Facebook page like since the company announced its contribution program in September, 2013. The program will run through November 24 with the company promising to continue donating, up to $10,000.

CCPG is a nonprofit organization with a mission to educate and disseminate information on compulsive gambling and to facilitate referrals.

Quantum Communications Welcomes Kevin Harley - former Director of Communications and Press Secretary to the Governor Kevin Sunday - former spokesperson to the PA Department of Environmental Protection

WE'RE EXPANDING OUR TALENT TO BETTER HELP OUR CLIENTS WIN 717.213.4955

Facebook.com/QuantumComms

@QuantumComms

www.marcumllp.com

As a national ďŹ rm, we have never lost sight of our loyalty and commitment to the community in our backyard. With our deep expertise and diverse skill-set, we are able to provide the local business community with a variety of services to help them achieve success.

Discover the

Dierence

International Member of Leading Edge Alliance

ASSURANCE

I

TAX

I

ADVISORY

8

31 OCTOBER 2013

REGIONSBUSINESS.COM

WEEKLY BRIEFING

EDUCATION

Gov. Releases School District Funds HARRISBURG — Governer Tom Corbett released $45 million of funding to the School District of Philadelphia last week. The funds had been approved by the state legislature, but were held up in a battle with the city’s teachers’ union.

Officials say the money will allow the district to rehire some 400 staff and continue to provide music and athletics programs through the remainder of the school year.

CITY COUNCIL

Council Approves Tax Lien Sale City council voted last Thursday to approve a measure authorizing the sale of tax liens on properties delinquent on millions of dollars in city taxes to third parties.

This move could potentially generate millions of dollars in new revenues for the city General Fund and School District as well.

By a 15-2 vote, Council approved the bill to sell city tax liens placed on property owners delinquent on their taxes.

Councilwomen Jannie Blackwell and Maria Quinones Sanchez voted against the bill.

Allen Domb, of the Greater Philadelphia Association of Realtors, offered a statement prior to the vote strongly in favor of the measure.

BANKING

Wells Fargo Sets Record For SB Loans For the fifth straight year, Wells Fargo & Company is America’s top SBA lender in dollar volume, approving a record $1.47 billion in SBA 7(a) loans for small businesses in federal fiscal year 2013 (Oct. 1, 2012 – Sept. 30, 2013).

The company increased its dollar volume of SBA 7(a) loans by 18.3 percent from a year ago.

Philadelphia School Crisis Not A Question Of Choice

BY MARY C. TILOTSON Charter schools and tax-credit scholarships aren’t responsible for the crisis in Philadelphia public schools, said Priya Abraham, senior policy analyst at the Commonwealth Foundation, despite claims of some public school proponents.

“Philadelphia city schools do have a crisis, but it’s a crisis of failure. They have for many, many years been violent and failing,” she said. “There are thousands of assaults each year on students and staff. At the same time, 20 to 30 percent of students can read or do math at grade level.”

“They’re violent and failing. This is the real longstanding crisis,” she said.

That’s in addition to the financial crisis. This year, 40 schools closed and the ones still open have seen severe cuts. At least one death has been blamed on the cuts: a 12-year-old girl with asthma may have survived had a nurse still been employed at the school, the girl’s father claimed.

A Mo o d y ’s Investor Service report released earlier this month called charter schools out for contributing to the failure of traditional public school districts in Philadelphia and other cities.

Charter schools can pull students and revenues away from districts faster than the districts can reduce their costs, Moody’s said.

“As some of these districts trim costs to balance out declining revenues, cuts in programs and services will further drive students to seek alternative institutions, including charter schools,” Moody’s said in a news release.

The National Alliance for Public Charter Schools released a statement responding to the report.

“What Moody’s may consider ‘bad’ for a small handful of school districts may not be bad for children. Public money should be used to ensure all children can attend a high quality public school and if, in delivering on that commitment, some poor performing schools or school districts lose students and revenue because they are no longer serving as many students, that is ultimately better for the families and the taxpayers in those com-

munities,” said Nina Rees, president and CEO, in the statement.

Requests to attend charter schools has “skyrocketed” this year, said Otto Banks, executive director of the REACH Foundation.

“When these schools close, parents are going to panic: Where am I going to send my child, what am I going to do? How is that going to look? Is my kid going to have to get on a train? There are several different fears that must be addressed,” he said. “There’s always going to be the accessibility issue: How far is my school away from where I live. If something happens to my child am I going to be able to get there in a timely manner?”

“With the Philadelphia district, I’m sure many of the issues they have with time will be resolved, but until then, we want to make sure parents have freedom and options,” he said.

The district’s financial problems stem from “years and years of mismanagement,” Abraham said.

Since 1987, auditors have warned the district of impending financial problems, PA Independent reports.

Abraham pointed specifically to the generous health and fringe benefits teachers receive, including a legal services fund providing teachers with personal matters like making wills or buying homes. Further, she said, severance pay can be in the millions.

“Parents, understandably, are desperate to get their kids in better schools. That is a lot of the reason for the rising popularity of charter schools, because at the very least, they’re safe,” she said.

This means declining enrollment in district schools.

“When you have declining enrollment, you just don’t need as many staff or as many resources, but the district has failed to adjust to that,” she said.

The crisis has come to a head this year, and the district asked teachers to take a pay cut. That sparked a heated budget negotiation, and teachers are now working under the expired contract as negotiations continue, said George Jackson, spokesman for the Philadelphia Federation of Teachers.

This article was originally published in Pennsylvania Independent at PAIndependent.com.

31 OCTOBER 2013

REGIONSBUSINESS.COM

WEEKLY BRIEFING EXECUTIVE BOOKSHELF

WHO TO FOLLOW

@JudyWeDu Judy Weightman, contributor to Generocity, BroadStReview with expertise on education issues. Also, highly entertaining social commentary.

RT @FAFSA: Want to get a head start on FAFSA? Apply for a PIN! If you’re a dependent student, your parents will need one too: http://1.usa.gov/16AZhX9 RT @newskag: fate of the #phillyeducation art collection? unclear. its sale is off the table for now.

Today’s story...

Small Change, Big Gains: Reflections Of An Energy Entreprenuer If you’re at all interested in the intersection of energy policy and business, or ever asked, “How can we build a stronger, more sustainable energy portfolio?” then this book is for you.

In Small Change, Big Gains, author and veteran energy executive, Thomas Stoner, answers that question and others by taking an innovative look at our global energy supply as if it were a single portfolio of assets.

Mr. Stoner demonstrates how we can transform our current social, economic, and political structures to build a more sustainable energy future.

MUST-HAVE APP

Picture Pay Mobile Customers Bank has introduced a newly enhanced mobile app, CB Access, featuring an innovative package of convenient and free mobile services — including the Picture Pay mobile bill payment solution developed

by Malauzai Softwares.

Customers will also be able to use the app to deposit checks remotely, transfer money, sign up for text banking alerts and share their banking experience via social media.

Customers Bank is currently one of only a handful of banks in the Philadelphia region, to make mobile bill payment available to its banking customers.

Pointing you to what’s possible.

Smart solutions. Dynamic resources.

Fox Chase Bank goes beyond banking. We offer you innovative, customized ideas that address of your company’s challenges and then provide the resources to see them through. We bring business solutions not just banking solutions. And we bring them with the attentive service you deserve. Well-versed. Well-funded. Fox Chase Bank can help you grow. To get started stop by your local branch or call 866-369-2427. ©2013 Fox Chase Bank. All rights reserved.

9

RESTAURANT ROUNDUP

CVS to Take the Place of Iconic Lucy’s Hat Shop 2013 will mark the final year of business for Old City staple nightspot, Lucy’s Hat Shop, originally opened in 1998 at 247 Market St, Foobooz reports.

Alterra Property Group plans to demolish the building and bring an apartment/shopping complex to the corner, including a CVS. Alterra completed a major Old City renovation on the 100 block of Chestnut Street in 2012.

Alterra principal Leo Addimando said to Foobooz that he expects to close on all properties involved in the coming weeks.

10

31 OCTOBER 2013

POLITICAL COMMENTARY

REGIONSBUSINESS.COM

Council Committee Votes In Favor Of Land Bank

Timothy Holwick is a freelance writer covering Philadelphia government.

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

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

After a hearing on the morning of Monday, October 28, 2013, the Philadelphia Committee on Public Property voted in favor of the creation of a Philadelphia Land Bank.

The legislation would still face a full vote before all of City Council, but the 6-1 victory in committee was a good indicator of success.

The land bank was proposed back in April via legislation introduced at a weekly council meeting. The issue of vacant land has become popular as it often represents urban blight, delinquent taxes and an opportunity to provide more revenue to a city on a budget.

If the land bank is actually created, Philadelphia would be one of the larger cities in the country featuring such an institution.

Land banks are public authorities which manage public land by acting as the legal and financial clearinghouse for the transfers and development of such land.

Financial efficiency in the management of vacant or blighted property is the main goal of a land bank.

As stated in the April bill proposing the land bank, “a municipal land bank would

ensure clear, transparent, and efficient operations by serving as a single entity to acquire, hold and dispose of vacant property with the participation and approval of City Council.”

Testimony at the hearing on Monday advocated both for and against the land bank. Many of those against the land bank pointed to relative failures in Cleveland, Ohio and Flint, Michigan.

Currently, vacant properties can be obtained in multiple ways, such as sheriff sales, foreclosures, or transactions with private owners. The land bank would streamline operations to an extent, but that depends greatly on the steps in the process, which may include approval

by Council for each individual transaction.

Opponents of the current structure point out that not much efficiency would be gained if there was too much red tape.

Proponents of the creation of the land bank often took an approach that stated that anything would be better than the current system. Even if it meant just having to approach one accessible outlet to inquire about vacant property, it would be

an improvement over the tangled mess of favors and legalese that plague the current system.

Councilwoman Maria Quiñones-Sánchez, who sponsored the bill, hopes that it will pass but encourages any amendments and ideas that might improve the process. She is already fighting to minimize the involvement of Council in the sale process, which many have said adds an unnecessary step in the process of transferring property.

Her district, which covers much of North Philadelphia, has its fair share of vacant properties so it is clear why this issue is important to her.

The hearing and discussion of amendments represents a truly collaborative approach to building a system that works.

Whether or not that system ends up being successful will be born out in time, but for now everyone seems to agree that moving vacant property into the hands of someone who wants to use it for good is certainly beneficial to the city.

For more news on City Council, read Tim Holwick’s blog at RegionsBusiness. com/bloggers.

JOIN THE GREATER PHILADELPHIA CHAMBER OF COMMERCE TODAY

SAVE YOUR COMPANY MONEY AND

BE THE HERO OF YOUR OFFICE! SAVE ON OFFICE SUPPLIES, SHIPPING, MEETING SPACE, AND MORE

GPCC.COM SAVE MONEY

NETWORK

215-259-5868 MARKET YOUR BUSINESS

31 OCTOBER 2013

POLITICAL COMMENTARY

REGIONSBUSINESS.COM

11

Time To Shut The ‘Right-To-Know’ Loophole

Eric Boehm is a reporter for Watchdog.org and can be reached at EBoehm@ Watchdog.org. Follow @PAIndependent on Twitter for more.

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

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

This is not the first time I’ve written on this topic, but it will hopefully be the last.

Hopefully, sometime in the next few weeks our esteemed lawmakers in Harrisburg will find their spines and do something that should have been done a long time ago — shut the gaping blind spot in the state right-to-know law that prevents the public from finding out how four major state universities are using their tax dollars. After a hearing on the subject last week, the state Senate could be poised to move a bill closing that loophole before the scheduled end of the fall session on Dec. 11.

When the state overhauled its open records law a decade ago, it required that nearly all taxpayer-funded departments, agencies and programs respond to right-to-know requests seeking information about spending, personnel and other official matters.

But the four so-called “state related universities” were left out of the law, supposedly because they had concerns about donor information being made public via the right-to-know process.

Those four schools — Penn State, Pittsburgh, Temple and Lincoln universities — merely have to provide an annual list of their 25 highest-paid

employees and can otherwise ignore any and all right-to-know requests delivered to their door.

In the wake of the Jerry Sandusky sex scandal at Penn State, lawmakers promised things would change. They said the schools would no longer receive state funding unless they agreed to submit to the open records law.

Since then, more than $1 billion have been appropriated to the four schools, over two budget cycles, while the loophole has remained open. And the school presidents seem to mock the lawmakers for their unwillingness to make changes.

Last week, at a Senate Education Committee hearing on the proposal to close the right-toknow loophole, attorneys for the four schools practically bent-over-backwards trying to make excuses for why they should not have to comply with the state law. Being required to show how much all professors, administrators, coaches and other university personnel are paid could create animosity, said one.

Never mind that taxpayers can find the salary for any other state employee, from the janitor in the state Capitol to the governor. It’s hard to imagine why the salary for English professors

VERSATILE SECURE LOCAL NearCloud ® – Your data center next door.

To learn more about private dedicated cloud hosting, visit www.nearcloud.com.

Philadelphia U New York

www.PickITS.com U 215.886.7166

(or, say, highly paid football coaches) have to be kept secret.

The schools already are transparent enough because they release graduation rates and are willing to support a proposal making their campus police departments subject to the right-toknow process, said another.

As if the taxpayers have no right to know how the rest of the $517 million they are spending on the four schools is used.

The money from the state is not a big enough percentage of their total budgets — it ranges from about 7 percent to about 15 percent, depending on the school — for them to count as “state agencies,” said another. As if the state’s biggest institutions of higher learning are simply entitled to that $517 million investment by the state taxpayers, with no strings attached.

Former Auditor General Jack Wagner and Auditor General Eugene DePasquale both have placed changing the school’s open records status at the top of their recommendations for improvements in the wake of the Sandusky scandal. Hopefully soon, very soon, the General Assembly will get the message and shine some light where it is sorely needed.

12

31 OCTOBER 2013

POLITICAL COMMENTARY

REGIONSBUSINESS.COM

Paid Or Unpaid, Internships Are Invaluable

An educated workforce is essential to compete in the global marketplace.

According to a global report by the education firm Pearson, the United States places an unacceptable 17th in the developed world for education.

In Philadelphia, the school district crisis is on the front page. Mayor Nutter and the Greater Philadelphia Chamber of Commerce have announced education initiatives and emphasize Rick Grimaldi and Lori a focus on new partnerships between education Armstrong Halber are and business. partners in the law firm of One such potentially beneficial relationship Fisher & Phillips LLP. Follow — the unpaid internship which provides expethem on twitter rience, networking opportunities, and resume @LoriRickHRLaw. benefits — is under attack.

According to the National Association of Colleges and Employers (NACE), nearly 48 percent CONTRIBUTE of 2013 graduates have had at least one unpaid internship. Furthermore, unpaid interns were Send comments, letters offered full-time positions 38 percent of the and essays to feedback@ time. regionsbusiness.com.

Notwithstanding with the value of such proOpinions expressed by guest grams, a federal judge in New York City ruled writers do not necessarily this past summer that Fox Searchlight studios reflect those of Region’s

had broken New York and federal minimum wage laws by failing to pay two interns who had worked on the set of its Oscar-winning flick “Black Swan.”

Thereafter, unpaid interns filed lawsuits under the Fair Labor Standards Act (FLSA) for failure to pay wages against Conde Nast Publications, Warner Music Group, NBC Universal, Viacom, Sony, and Donna Karan.

Such actions can result in significant exposure for companies. For example, if 40 interns worked 35 hours per week for eight weeks, then an employer would be liable for back wages totaling $487,200, plus attorney’s fees or liquidated damages that could elevate an employer’s total liability to well over $750,000.

To avoid such exposure, one company, Charlie Rose, Inc., agreed to pay 189 interns up to $250,000. Many companies, including Conde Nast, which publishes such magazines as Vogue, The New Yorker, and Golf Digest, announced that they are ending their internship program in 2014.

Whether paid or unpaid, the intern model is

Business.

FULL SERVICE ADVERTISING AGENCY s Strategic Planning s Media Buying

s Web Development s Creative Design

s Marketing Consulting 255 Great Valley Parkway, Suite 150 Malvern, PA 19355

219 Cuthbert Street, Suite 500 Philadelphia, PA 19106

p: 610.644.8637 s f: 610.540.6433

StreamCompanies.com

an example of the type of partnership the U.S. should foster between education and business.

Two such successful examples can be found here in Philadelphia.

The cornerstone of Cristo Rey Philadelphia High School’s education is its Work-Study Program. Students work five days per month — in teams of four students for each job — in sponsor corporations. This allows them to complete their academic studies on schedule, gain invaluable work experience, and subsidize approximately 60 percent of the cost of their education.

At the college level, Drexel University’s cooperative education program enables students to balance classroom theory with practical, handson experience prior to graduation. Students alternate six months of classroom study with six months of full-time employment through University-approved employers.

In a post-industrial, college-educated labor market, more positions require on-the-job experience even for entry-level vacancies.

Internships provide an essential bridge between education and the labor force.

31 OCTOBER 2013

LEGISLATIVE UPDATE

REGIONSBUSINESS.COM

13

Gov. Corbett Pushes For Transportation Funding

BY SCOTT STARUCH Both the Pennsylvania House and Senate will reconvene in Harrisburg on November 12.

Transportation funding legislation continues to dominate the policy spotlight. At a press conference on Wednesday, Oct. 23, Governor Corbett reiterated the need to address Pennsylvania’s transportation needs.

“The legislature can fix this and now is the time to do it. Our citizens deserve better than crumbling concrete. Our citizens deserve a transit system that is working. Now the General Assembly has that opportunity to fix it. A ‘yes’ vote for transportation is a vote that will ensure safety for our 1.5 million children riding 31,000 school buses every day to school in Pennsylvania, riding across roads and bridges that need to be repaired. Four thousand bridges, 10,000 miles of road that need to be repaired. We can ensure the flow of commerce so that our industries and businesses can continue to operate. And, this bill will create jobs,” said Governor Corbett.

The governor’s comments followed a press conference by Speaker of the House Sam Smith on Tuesday, Oct. 22. Speaker Smith said all four caucuses continue to negotiate transportation funding legislation, but stressed his desire to include prevailing wage reform.

Look for more transportation news from the governor following his October 30 news conference in Pittsburgh. The House Calendar for Tuesday, November 12, includes Senate Bill 1 (the Senate transportation funding bill passed in June).

On the health care front, last week Governor Corbett signed Senate Bill 379 into law. Known as the “Apology Rule,” the legislation establishes that “benevolent gestures” made by health care providers and assisted living residences, their officers, employees and agents to a patient or resident, or their representative, will be inadmissible as evidence of liability in certain circumstances.

Governor Corbett said, “Today we are taking another step forward in our mission to increase healthcare quality and affordability for all Pennsylvanians … I thank

Senator Vance and Representative Gillespie for their advocacy for a compassionate cause as well as for their collaboration on reducing the financial burdens that can drain individuals, families and our healthcare system.”

On Monday, Hospital and Healthsystem Association of Pennsylvania (HAP) president and CEO Andy Carter spoke at the monthly Pennsylvania Press Club in Harrisburg.

Carter described patients as “responsible partners” and said hospitals know “that we have to completely re-think the relationship between patient and surgeon.”

Lastly, registered voters are reminded to vote in the Nov. 5 Municipal Election. Ballots will include the question of retaining two justices on the Supreme Court of Pennsylvania, the question of retaining two judges of the state Superior Court, the election of a new member to the state Superior Court, and judicial candidates for County Courts of Common Pleas, county row officer candidates and other important offices.

For information on where to vote, visit www.

VotesPA.com.

Where other lenders have come and gone .....

SINGER FINANCIAL CORP.

a second generation Private lender stands the test of time

REAL ESTATE SECURED COMMERCIAL and BUSINESS LOANS

$ Millions Available for lending now!

Interest Rates As Low As 12% - Loans Up To $1M and 50% LTV - PA, NJ and DE Direct Portfolio Lender - Fast Closing (5 -7 Business Days) - Brokers Protected (Earn 3-5 pts.)

Singer Financial Corp.

A Private Financial Institution

1708 Locust Street | Philadelphia, PA 19103 P: (215) 893-9722 F: (215) 893-9725 Email : paul@singerfinancial.com

14

31 OCTOBER 2013

POLITICAL COMMENTARY

REGIONSBUSINESS.COM

Faulty Website Just The Tip Of Obamacare Iceberg

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.

The Internet, with more than a trillion web pages and exponentially more data, can be a complex place to navigate. That’s why some of the most successful tech firms have made their fortunes by allowing businesses and users to interface easily with the web. When you use Google, you get a stripped down webpage with the company’s name, a search bar and very little else.

At the heart of Google’s business model is rolling out products and services utilizing “minimum viability” — that is, just enough features to get it to market. The idea is to not waste resources upfront and grow market share and retain customers by adding more bells and whistles later.

Now, it’s no secret President Obama is cozy with the technocratic elite of Silicon Valley. Deeppocketed donors there plopped down record sums of money into his campaign coffers in both 2008 and 2012. That’s another story for another day. What is the story in nearly every newspaper, magazine and newscast in the country this week is the incredible debacle of the roll-out of the Obamacare website.

It’s abundantly clear to even the most casual observer that this monstrosity of a webpage, which cost more than $1 billion and three years to develop, was not developed as “minimally viable.”

The genesis of the site is a 10,000-plus page bill, the so-called Affordable Healthcare Act. It is now estimated that the regulations required to implement the act will span hundreds of thousands of pages. Simplicity was never a core feature

of Obamacare or its website.

The debut of the site has been an abject failure, with users unable to log on and complete the enrollment necessary to avoid being taxed for not having insurance. Obamacare’s architects spun a web of tax exemptions, loopholes and subsidies so complex that even the most adroit policy wonk would struggle to navigate; hence the need for a site to allow the average person to purchase health insurance.

But the site doesn’t work. Hundreds of thousands of users have seen error screens when they log on. For the “lucky” few who are even presented with the opportunity to enter reams of personal, medical and financial data needed to enroll, the site has repeatedly crashed. It’s also frustrated users by repeatedly asking for information that was already tediously entered. Users are also finding they cannot get accurate cost estimates for their plans. Legitimate concerns linger about the system’s ability to provide sufficient data security.

The Centers for Medicare and Medicaid Services, a division of the Department of Health and Human Services, is responsible for managing the development of the website by private contractors. One contractor testified the department knew the system was prone to crashes and had not been adequately tested, despite several years and incredible sums of money. One of the lingering questions is why no-bid contracts went to a Canadian-based firm whose executive vice president is a former Princeton classmate of Michelle

“The Intelligent Choice” Business and Public Policy Intersect Every Week In Print Go To RegionsBusiness.com To Subscribe

REGION’S BUSINESS A JOURNAL OF BUSINESS & POLITICS

Obama.

Sen. Max Baucus, a Democrat from Montana and one of Obamacare’s architects, candidly admitted earlier this year that implementation of Obamacare has been “a train wreck.” How much of that had to do with the Senator, as well as fellow members of his caucus Jay Rockefeller of West Virginia, Carl Levin of Michigan and Tim Johnson of South Dakota, deciding not to seek reelection next year is known to them alone. But 16 other Senate Democrats will face voters next year, many of them in swing or even “red” states. Many of them are running away from Obamacare as fast as they can.

Democrat Senators from Arkansas, North Carolina, Louisiana and West Virginia are calling for at least delaying the individual mandate as President Obama did unilaterally with the employer mandate. Leading the charge to delay implementation has been one recipient of a good Pennsylvania education, New Hampshire Senator Jeanne Shaheen.

Delaying the mandate has been characterized as “kicking the can down the road.” The biggest problem is that a one year delay doesn’t kick it far enough.

To derail the inevitable will require delays much longer than a year. But a series of delays while more and more citizens and businesses discover what was actually tucked into that massive bill might do the trick.

Ultimately the demise of Obamacare may be the market that it finds so contemptible.

TICKETS ON SALE NOW !

Inaugural MARCUM

I N N O V A T O R of the Year AWA R DS Celebrating Advancements in Technology, Healthcare/ Biotech, Business Management and Energy Honoring companies that have positively impacted Philadelphia’s economy with their latest ground-breaking innovations On Thursday, November 14, 2013 6:00 PM - 9:00 PM Franklin Institute | 222 North 20th Street | Philadelphia, PA 19103 Tickets are on sale for $40 each. Seating is limited.

Please visit www.marcumllp.com/innovator.

Make sure not to miss the premier networking event of the year!

We hope to see you there!

Discover the Dierence www.marcumllp.com/innovator International Member of Leading Edge Alliance Sponsored by

ASSURANCE

I

TAX

I

ADVISORY

10 OCTOBER 2013

REGIONSBUSINESS.COM

16

2013: YEAR OF THE INNOVATOR

31 OCTOBER 2013

REGIONSBUSINESS.COM

MobileLeads Makes Networking A Snap For Events Industry Pros

Manish Gorawala, founder of MobileLeads. (CCPAblog.org)

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.

To Learn More ...

For more information on sponsorship opportunities or to suggest story ideas, call our main office at 610-940-1656.

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

Business: MobileLeads Founder: Manish Gorawala Contact: info@myleadssite.com

BY BRANDON BAKER Manish Gorawala wants sales and marketing teams to set fire to their rolodexes.

MobileLeads is Mr. Gorawala’s brainchild, thought up in late 2011 when it occurred to him that he faced far more challenges than necessary while networking at events. In short, business cards weren’t cutting it, and the mind-numbing process of exchanging information and quickly capturing that into a meaningful “lead” was far more timeconsuming than it needed to be.

So, he created a five-pronged, cloud-based mobile platform that aggregates contact information by event, even going as far as to use near-field communication to submit data into the one-stopshop app by tapping together mobile phones and tablets. The app is mostly targeted toward those in the events industry — event organizers, exhibitors, public relations firms and more.

“The real problem is [not] having the ability to access this information anywhere, at any time,” Mr. Gorawala said. “Additionally, it’s important to not

just have access, but be able to take action and do the conversion from the moment you connect with someone, to work that prospect into a customer or grow them into a new opportunity.”

The idea, he said, is to allow sales and marketing teams to “shake more hands” and “make more deals.” It’s a time-saver first and foremost.

MobileLeads, which is available on all major platforms, first launched in 2012 using a business model that had its 170 initial users pay a one-time fee.

Since then, it’s evolved to a $7.99 per month subscription model, with the first 30 days of use free of charge. Currently, Mr. Gorawala said, MobileLeads has 1,700 unique users.

“We’re very confident with the kind of feedback we’ve gotten from the marketplace — it’s just been huge,” Mr. Gorawala said. “In the next year, we’re also confident we’ll have at least 2,000-plus paid users, and we’ll then make a big push for sales and marketing — we haven’t even started our advertising yet.”

MobileLeads employs eight people and is based out of both Lansdale, Pa., as well as Center City co-working space Benjamin’s Desk.

It currently seeks investors who are knowledgeable in the events industry.

Thought leader. Trusted advisor. Innovation partner.

We work with our clients in Pennsylvania and around the globe implementing technology that simplifies business and delivers results.

Here in the Commonwealth, we process more than a billion dollars of payments and disbursements each year. We help state agencies and counties transform their IT operations. We field constituent phone calls, help cities manage their parking programs, deliver government benefits to individuals via convenient payment cards, and much more. Do you want to break new ground? Control costs?

Enhance service? Let’s do it together.

www.xerox.com/businessservices

©2013 Xerox Corporation. All Rights Reserved. Xerox® and Xerox and Design® are trademarks of Xerox Corporation in the United States and/or other countries.

18

31 OCTOBER 2013

2013: YEAR OF THE INNOVATOR

REGIONSBUSINESS.COM

DIARY OF A STARTUP

Valuable Entreprenurial Lessons Learned AboutOne founder Joanne Lang shares a recent experience at a Society of Professional Women event held at The Union League. Here, her rundown of events and a synopsis of advice she shelled out to businesswomen attendees.

In her words: This summer one of my mentors, David Sorin, a local entrepreneurial attorney, introduced me to the Mainline Society of Professional Women. SPW’s website says it perfectly when it outlines its No. 1 objective: to dramatically increase women’s participation in leadership positions in legislature, boardrooms, executive offices and not-for-profits. It was an incredible honor when they asked me to speak on a panel this month.

The sold-out event welcomed 215 women and men to “The Power of the Purse, Pitching and Profiting” panel at The Union League.

The Liberty Ballroom of the Union League in the heart of Philadelphia is lovely. While we enjoyed breakfast, the program got underway, and it was a joy to see Tracey Welson-Rossman — who is a friend — presented with a check from Wells Fargo to help her support her nonprofit, Tech Girlz. I am a mentor within this organization, and I cannot say enough about how important it is for us to help younger girls and women in the tech community in Philadelphia.

Peggy Leimkuhler, COO at Firstrust, introduced the panel. Joining me were Linda Ann Galante, who is partner at Stradley Ronon as well as a Golden Seeds Fund investor in AboutOne (yay!) and Karen Griffith Gryga, who is the executive director of Dreamit Ventures as well as an AboutOne champion.

Moderating the panel was the brilliant Gloria Rabinowitz, who is not only a Golden Seeds investor (yay! again), but she was also my mentor when I was an Alliance of Women Entrepreneurs Fellow.

Eileen Connolly-Robbins, who is the founder of SPW, and our moderator Gloria shared some stats to get the panel started: Only 12 percent of angel investors are women.

Only four percent of venture capital is awarded to women.

Our panel also discussed women in corporations and the challenges some women face in a corporate environment. We shared recommendations for women who have business ideas but are not ready to give up

corporate employment and gave tips on not only looking for investors but dealing with investor objections. We all had many lessons learned to share when it came to the “to patent or not to patent” idea questions!

My favorite question from the event is something I think every local entrepreneur thinks about: What can Philadelphia do, as a city, to help entrepreneurs? Here is what I suggested: 1) Buy from us! Give entrepreneurs a chance with pilot programs. If you are a CMO, a head of human resources, or a head of innovation, take the time to meet with entrepreneurs — like myself — to see if you can do business with us. Generally speaking, we are hungry to do a good job. You will find that we can save you time, money and even drive more business if given the chance.

If Philadelphia corporations don’t provide more of this kind of support the startups will move to cities where the infrastructure supports them. Sadly, this appears to be happening in the Philly Startup Leaders community.

2) If an entrepreneur pitches to you and you are not interested, give a quick “no.”

It was a wonderful morning spent with people who are really invested in bringing positive change to the entrepreneur landscape of Philadelphia. I’d love to know what more you think Philadelphia can do to encourage startups and entrepreneurs.

Contact me at joanne@aboutone.com.

Leadership Exchange Asks Tough Questions

BY CHRISTOPHER WINK Say someone gives you $500 toward your new business.

What would you do? What if you were given $50,000 instead?

What about $5 million?

When Wayne Williams gives this challenge to participants in the Goldman Sachs 10,000 Small Businesses Program at the Community College of Philadelphia, “they often get less creative the more money you offer them.”

Constraint makes us more innovative, which is exactly what you need to be when you’re starting a small business, he said, but too many people use constraint as an excuse to never try to build a business around that idea they had. The Philadelphia region, like much of the country, is silly with post-recession startup fever, but the gold rush is benefiting residents unevenly.

As part of a national pilot program from the philanthropic arm of Goldman Sachs, CCP and Williams are trying to make it easier for Philadelphians not yet bitten by the entrepreneurial bug, including mid-career professionals and those underemployed or in low-income or lesser educated communities.

Williams spoke about early progress of the program on a panel about entrepreneurship’s impact on the region’s future as part of the annual Greater Philadelphia Leadership Exchange program from the Economy League held Friday at WHYY in Old City.

To widen the net of those positively impacted by the region’s innovation entrepreneurship boom, we need to embrace that path and the failure that can come with it, added Lucinda Duncalfe, the serial entrepreneur currently working on Real Food Works.

“If your high school kid wants to work for a startup, right now you’d probably say, ‘no way,” she said to a crowd of more than 120. “We need to change your mind to want to say ‘yes.”

Some of this is already happening, said Campus Philly Executive Director Deborah Diamond from the audience, during a Q&A period. She pointed to a recent College Entrepreneurs event that she said did two big things for the 100 or so young people in attendance: showed the accessibility to leadership in Philadelphia and conveyed that there is an off-campus community worth being a part of.

But let’s not convince everyone to start their own thing, as entrepreneurship takes a special kind of person, said Duncalfe: passion, drive, commitment, responsibility and an understanding that, as a boss, the work day never ends.

“You don’t make any money at this unless you’re really lucky at the end,” she said.

“But with more good businesses, there are more jobs, more opportunities. Everyone can benefit from more creativity, but not everyone should be doing this.”

The exchange was a two-day event that featured discussions and speakers on the future of the region’s economy, including a keynote by Drexel president John Fry. This article was originally published in Technically Philly at Technical.ly/Philly. Christopher Wink served as moderator for the panel discussion during the Leadership Exchange.

2013: YEAR OF THE INNOVATOR

31 OCTOBER 2013

REGIONSBUSINESS.COM

19

Fox Chase Focuses On Business-Client Innovations

BY BRANDON BAKER Chief Risk Officer and Chief Payments Officer Kerry Lynch insists that Hatboro, Pa., based Fox Chase Bank boasts a unique thumbprint from every other billion-dollar-plus bank grazing the reaches of Greater Philadelphia.

In demonstration of this, Mr. Lynch took the time to highlight three all-new, cash-management innovations the regional bank is putting out to bolster its strength as a business-friendly bank.

First on this list is a cash-reading electronic safe service meant to replace standard steel safes that restaurants and convenience stores keep on-hand to store and count money.

“We install an electronic safe at each convenience store location, and throughout the day employees make deposits into that safe — larger bills, not pennies — and that safe transmits, through a wireless cell phone signal, all of the day’s activity,” Mr. Lynch said. “Bottom line is the cash is used much faster, so the owner has use of the cash next-day, even though it’s still sitting in the store. It also reduces the time [and risk] of employees counting cash and taking deposits to the bank.”

Innovation No. 2 on the list: an in-office check scanner intended for businesses issuing lower volumes of payments. “[Companies] can automate processing of payments without having to outsource the whole thing to the bank. … The company scans the check through the machine, and the remittance document [typically] included with the check when mailed is electronically deposited through checks and their images,” Mr. Lynch said. “[This is] instead of having some poor person sit with paper remittance documents in front of a computer, typing in John Doe’s account number and the amount he paid a month.”

To neatly tie the package, Fox Chase is offering what it has dubbed “Automated Check Verification” – a process that, to Mr. Lynch’s knowledge, no other bank in the region currently offers.

The idea, he said, is to have customers who print their own checks encrypt a barcode on to a check containing essential payment information, which is used to compare information from the issuer of the check to the check that’s actually being presented to a bank teller — it’s a means of preventing check fraud.

“It’s a brand-new version of what’s traditionally been known as ‘positive pay,’” Mr. Lynch said. “This totally streamlines [that manual process] — if the check is bogus or altered, it’s automatically detected and not charged to the account.”

The company first switched gears to become a business-client-oriented institution circa 2005 when a new management team arrived to change the bank’s more-than-a-century-old status quo — all in an attempt to improve profitability, Mr. Lynch admitted. For the past six years, the compounded annual growth rate of Fox Chase Bank’s commercial lending portfolio rests at 41 percent.

Fox Chase Bank stretches from Atlantic to Chester counties, managing 11 locations and employing 150 people.

REGISTER NOW

NOVEMBER 1, 2013

PENNSYLVANIA CONVENTION CENTER PRESENTING SPONSOR

UNVEILING THREE EXCEPTIONAL WOMEN KEYNOTERS TO

COMMEMORATE OUR 10TH ANNIVERSARY!

STAY TUNED FOR EXCITING SPEAKER ADDITIONS

THIS IS JUST THE START OF 100+ TO COME!

GLENDA

SALLIE KRAWCHECK

ALBRIGHT

host & star, Judge Hatchett, bestselling author

one of the most respected voices on Wall Street

America’s first woman Secretary of State and bestselling author

HATCHETT

MADELEINE

GO ONLINE AND SEE OUR

AMAZING SPEAKERS PACONFERENCEFORWOMEN.ORG

21

31 OCTOBER 2013

REGIONSBUSINESS.COM

RESEARCH REVS UP REVENUE: How Universities Are Fueling The Local Economy One of Philadelphia’s claims to fame is the many world-class educational institutions that call the city home. But they do more than just attract students and faculty — they’re providing a needed economic boost.

STORY BY JUDY CURLEE ILLUSTRATION BY DON LEE When Philadelphia was founded, its proximity to natural resources guaranteed its economic vitality.

Fortunately, as manufacturing has declined, a system that fosters innovation and promotes the development, transfer, and commercialization of technology has invigorated the city’s economy.

Fifty years ago, five “eds and meds,” joined forces to establish just such a system. The University City Science Center is the first urban research park in the country, and its preeminence is evident as it is the lead example featured in “Driving Regional Innovation and Growth,” a report issued by the Association of University Research Parks (AURP) this past September.

The Science Center supplies a network of scientific discovery, innovation and entrepreneurship to its 31

shareholders — universities, colleges, and research institutions.

As its mission statement says, “Our goal is to inspire a community of knowledge, spark the spirit of enterprise, and help expand and strengthen the Philadelphia region’s technology sector.” The Science Center provides lab and office space for start-up, growing, and established companies, offers business incubation, support services and programming for entrepreneurs and startups, all for the purpose of moving technology out of the lab and into the marketplace.

Two of its most useful tools are QED and the Port Business Incubator, both run by Dr. Christopher Laing.

QED, a multi-institutional fund to support academic researchers developing early-stage life science and digi-

tal health technologies with high commercial potential, works by getting insiders to advance critical business advice and capital.

The second piece is the Port Business Incubator, which leases office and lab space. The Science Center manages over one million square feet, providing optimal office and lab space for its shareholders.

To quantify its impact, consider that 40,000 jobs are generated by graduate and resident organizations of the Science Center. And the annual regional economic output is a whopping $9.4 billion.

The AURP report identifies eight strategies that universities and research institutions use to identify, incubate, and retain startups: 1) build partnerships

22

31 OCTOBER 2013

REGIONSBUSINESS.COM

A team works in a University City Science Center lab

2) offer access to laboratories 3) offer internships and co-ops, as well as post-doctoral hiring 4) set up university technology transfer and commercialization offices 5) build university core user facilities that are open to industry 6) offer university educational courses to industry 7) build pilot plants or demo labs 8) set up workforce advanced technology training facilities.

Three major universities offer examples of how tech transfer and commercialization work.

University of Pennsylvania

Penn established its Center for Technology Transfer, (CTT) staffed by scientists, attorneys, and business people experienced in finding research, to move research from bench to market.

CTT has achieved remarkable numbers since 2006. It has obtained 262 patents, generated 1,637 invention disclosures, and completed 322 commercialization agreements. It also formed agreements with 31 startups. Its parent institution, the University of Pennsylvania, is the second largest private employer in the commonwealth, with 31,000 employees and an annual payroll of $2.3 billion.

As an aside, Penn’s medical research

results in societal as well as economic benefit. Susan Phillips, Senior Vice President and Secretary of the Board at Penn Medicine, notes the range of medical research that has led to lifesaving therapies: a new gene therapy to treat chronic lymphocytic leukemia, at least three tests to detect Alzheimer’s disease, and a photodynamic therapy that treats Mesothelioma, a deadly cancer.

Drexel University

As did Penn, Drexel University institutionalized its tech transfer and commercialization efforts. Drexel founded its Charles D. Close School of Entrepreneurship, where innovation can be structured and shepherded through the commercialization process. Keith Orris, Senior Vice President for Corporate Relations and Economic Development, and Deb Crawford, Senior Vice Provost of Research, oversee commercialization.

Seven years ago, the Coulter Translational Research Project began a $20 million endowment funding medical device research with potential to quickly be commercialized. Drexel offers open calls to seek ideas from faculty. It provides internal funds to move technology to market. Additionally, it forges industry partnerships for R&D. “Private industry seeks to de-risk tech-

nology,” says Crawford, “which is why proof-of-concept is needed.”

In some cases, individual sponsors or licensers will work hand-in-hand with university researchers. Many industries, including big pharma, are in transition, and need the right size research and development. Thus, they need a consistent research platform.

The benefits are obvious for industry, but what about universities such as Drexel? It is mutually symbiotic, as Drexel undergraduate and graduate students are exposed to real-life problems and gain experience finding solutions.

The university also qualifies for state and federal research funding, and builds a revenue stream.

As Orris sees it, the Philadelphia ecosystem of Drexel, Temple, the University of the Sciences, and the other universities provide richness. Get as many innovators, ideas, and capital together in one place, and then this research activity becomes a catalyst for economic growth. Drexel has always been advancing applied knowledge. In Orris’s words, “Applied knowledge innovation has always been part of Drexel’s DNA.”

Temple University

Temple University plays an important role as well in the city’s tech transfer suc-

cess. Its designated division is the Office for Technology Development and Commercialization, which orchestrates the university-wide program for innovation and commercialization.

“Through the advancement of the university research enterprise, we ensure our place as a nexus of discovery, education, translational research, and service, dedicated to improving quality of life,” says Stephen G. Nappi, Director of the Office for Technology Development and Commercialization.

The university-wide mandate to innovate has resulted in the most efficient tech transfer in Pennsylvania. “Temple ranks second behind University of Pennsylvania in the state for amount of revenue received and first in the state for the ratio of the university’s commercialization income to research expenditures,” Mr. Nappi said. Temple leverages its research in a highly efficient and beneficial manner.

Technology development and commercialization benefits Temple in two ways. First, there is external research funding. Each full-time faculty member brings in an average of $100,000 a year. And the research funding in FY 2012-2013 was $145.2 million, plus an additional $43.4 million from Fox Chase, to total $188.6 million. Second,

23

31 OCTOBER 2013

REGIONSBUSINESS.COM

Success Stories From Drexel And Temple Drexel:

Belly Band is wearable technology developed and commercialized at Drexel University. Its inventor, Professor Genevieve Deon, uses digital knitting equipment at the lab to produce this garment that allows women with at-risk pregnancies to maintain normal activity.

The monitoring that the physician receives is knitted into the fabric.

Professor Deon traveled to Japan and worked out a $1 million licensing agreement with Shima Seiki, increasing funding to Drexel’s Expressive and Creative Interactive Technologies Center (ExCITe). Digital knitting is akin to 3-D printing, Professor Deon said, and offers untold practical applications.

Temple:

Onconova is a local biopharmaceutical company licensing a cancer therapeutic developed at Temple’s Fels Institute for Cancer Research and Molecular Biology. Another successful agreement is Save the World, Inc.’s licensing of crude oil pipeline technology developed by physics professor Rungjia Tao. Finally, Diffregen LLC provides a case study on how the Office of Tech-

there are the licensing agreements. Here Temple has achieved notable success, generating $11.5 million dollars in FY 2012-2013 from 23 agreements, a 360 percent increase from the preceding year.

One example is a licensing agreement between the university and a Texas-based start-up, Enviro Hydro Clean LLC. The process uses nanotechnology to clean fracking wastewater. Another example is a two-year grant from the National Institute for Biomedical Imaging and Engineering in the amount of $418,000 which is shared by Professor Omar Fisher for biomedical imaging.

In addition to the University City Science Center, these three key resources offer strategic and logistical support: 1) BioStrategy Partners provides significant help to startups in pharma from industry experts. A non-profit, its programs are focused to get translational life sciences research and technology transfer and target technical risk reduction, commercial considerations, and market intelligence. Its programs BioStrategy Partners offers business advice, provides networking and gets investments.

2) Philadelphia’s Department of Commerce has a designated office, Entrepreneurial Investment, which promotes the city. There, Rebecca Kriss Lopez works with entrepreneurs and high-growth startup companies to help them understand the benefits of locating and staying in Philadelphia. With incentives such as the Job Creation Tax Credit, Jump Start Philly, and Keystone Innovation Zones, Kriss Lopez markets the city as a hub for startups. She administers the Startup PHL Call for Ideas program, which awards small grants to local organizations to support the growth of Philadelphia’s entrepreneurial ecosystem.

3) Philadelphia Industrial Development Corporation (PIDC), a public/private partnership, helps with financing and real estate for startups. In terms of financing, it administers Start PHL, which uses $3 million matched by FirstRound Capital to fund $6 million, under the direction of Josh Kopelman, a leading entrepreneur, to perform due diligence, develop a business plan, and help innovators in the early stages.

PIDC also made a loan of $500,000 to the Science Center’s QED program. Thirdly, it sponsors a Call for Ideas, which offers small grants to non-profits and for-profits to further the entrepreneurial ecosystem, as Anne Nevins explains. One condition for funding is that the startup commits to staying in Philadelphia for 18 to 24 months, sufficient time for a company’s human capital investment to compel most companies to stay put.

Equally useful is PIDC’s real estate know-how. PIDC manages the Navy Yard and

nology Development and Commercialization works. Temple’s second best performing licensing agreement is significant in how it benefited from University City Science Center partnership.

A Temple startup, Diffregen LLC, has been awarded a small business innovation research (SBIR) Phase 1 research grant from the National Cancer Institute to advance Angiocidin, a university-created therapeutic to treat acute myeloid leukemia to the doorstep of human clinical trials.

Temple researcher and emeritus neuroscience professor George Tuszynski received the patent in 2008 and received a $100,000 proofof-concept grant from the Science Center’s QED program, which seeks to move technology from laboratory to marketplace. That added to the $289,000 SBIR grant will allow Diffregen to begin making Angiocidin with a contract manufacturer.

Temple’s association with the Science Center played a role in getting the SBIR grant, in part because the Center provided the startup with legitimate office and lab space. Temple leases the space from the Center’s Port Business Incubator.

it also helped with the planning of the Innovation District of the Lower Schuylkill Master Plan for startups. One portion of that area, the South Bank, is owned by Penn.

South Bank is being developed to house startups as they move to production, having outgrown the original space.

So how does all this tech transfer and commercialization add to the city’s bottom line? Philadelphia benefits from its universities, colleges, and research universities directly and indirectly. By forging strong bonds between the City and its higher education sector, Philadelphia provides its citizens with benefits including tax revenue, in-kind contributions, and infrastructure. According to Econsult’s report dated October 17, 2013, the Philadelphia Model generates $641 million every year in in-kind contributions. This number includes $119 million of scholarships to city residents and over $422 million in public safety and other services (including financial and resource supports for Philadelphia schools) that would have had to been paid for by the City and its taxpayers.

In terms of taxes, Philadelphia relies far more heavily on wage and business taxes than a city such as Boston. Philadelphia’s tax structure taxes wages and businesses, and the Higher Ed collectively the largest employers in the city. Just from annual wage taxes, the Higher Eds create and provide jobs that generate $211 million a year in revenue. Unlike the Boston model, in which real estate tax represents 91 percent of all local tax revenues, property taxes in Philadelphia comprise only 29 percent of local tax revenues.

Which is more profitable? As the Econsult report explains in detail, the PILOT (payments in lieu of taxes) used in Boston can work against itself. If a municipality increases the PILOT commitment of an institution, it might then reduce its community commitments, i.e. cutting staff, limiting new building, and scaling back in general. Finally, there is the multiplier effect, by which Philadelphia indirectly benefits as dollars work their way through the city economy, and the enhanced reputation of Philadelphia as a technology hub.

In “The Boom Towns and Ghost Towns of the New Economy,” an October 2013 article in The Atlantic, Richard Florida concludes, “Knowledge, it turns out, is what allows metros to generate good high-wage jobs. Across America’s metro regions, high-wage jobs are closely related to key markers, such as the share of the workforce in professions, technical, and creative jobs, and the levels of innovation and venturecapital investment.”

Philadelphia, whose civic symbol is the prolific inventor Ben Franklin, has the critical mass of innovators, ideas, and capital to become such a boom town, fueled by its academic research and funded by strategic investment.

24

31 OCTOBER 2013

REGIONSBUSINESS.COM

FINE ESTATES

$1.6M Washington Square Double Carriage Home This three-bedroom, two-bathroom is a one of a kind double carriage house with two-car garage parking located at 13th and Irving Streets in Washington Square West.

The first floor is presently being used as a photo studio with open space, half bath, and a washer/dryer.

The second floor is open loft space with living room, dining room with high ceiling, exposed beams, exposed brick and hardwood floors. There is a bedroom with full bath and study on this floor.

The third floor has two bedrooms and a full bath that leads out to large deck. This deck could be expanded which would offer incredible outdoor space.

This property, which goes back to Latimer Street, is a very unique property with endless possibilities!

With convenient proximity to the Walnut-Locust subway station, traveling in the city or to the suburbs is effortless.

For more information, please contact Margaret Szumski at (215) 922-4200

31 OCTOBER 2013

REGIONSBUSINESS.COM

REAL ESTATE

25

Restoration Off Rittenhouse Square, More To Come

BY SANDY SMITH An historic but slightly down-at-heels 19th-century building near Rittenhouse Square is being restored to good health, with six new residences and commercial space on the first floor to follow.

The four-story structure at 126 S. 16th Street is currently undergoing exterior restoration work. Licenses and Inspections issued an alteration permit in February for masonry restoration work on the building’s three exposed sides; as the structure is historically certified, the Philadelphia Historical Commission was required to approve masonry samples prior to the start of work. An amended permit issued in April expanded the scope of the restoration work to include replacement of the capstone, again under Historical Commission supervision.

This month, L&I issued a use change permit to allow the creation of six residential units on the upper floors of the building.

The street floor will remain retail space. The site is zoned C5 (multi-story office), which makes the apartments a nonconforming use, but one that is increasingly common in the Rittenhouse Row area.

Longtime condominium specialist Allan Domb purchased the building in December 2012 for $1.5 million, according to records on file at the Office of Property Assessment. The building and land are assessed at $588,000 for 2014 and its exterior condition was rated as “below average.” That will presumably no longer be the case once this work is complete. (The OPA cautions that sale price data in its records may reflect properties in addition to the property listed.)

Joseph Dugan Inc. is the contractor for the masonry restoration work. Fishtank PHL LLC is listed as the applicant for the use change permit.

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

WOODBURY Beautiful, 6 BR, 4 Full & 2 half bath home w/4 car garage & in-ground pool. Historical mansion, with many original details throughout, including hardwood floor-ing, custom moldings & grand staircase. Plenty of closets in this home. Newer kitchen, roof, AC(2nd & 3rd floors) . Full, partially finished basement with half bath and huge storage area. Wrap around porch & screened porch. Close to all major highways & Philadelphia. .....

MEDFORD/WOODSFIELD Gary Gardner built estate home w/5 BRs, 5 full & 3 half baths & 3 a car garage on 2.3 acres of professionally landscaped property. 10’ ceilings, 7 gas FPs, Corel “smart house” system & Audio system t/o. Custom kitchen w/ commercial grade appliances & butler’s pantry. 2 Story Family Room w/ wall of windows. Pool & cabana house. Finished lower level w/bar, gaming area & theater. Perfect home for entertaining. ….

CHERRY HILL/VOKEN TRACT Gorgeous brick home with 5BR, 5 full baths & 2 powder rooms. Joanne Hudson designed kitchen w/prof appliances, 2 granite islands & Breakfast area.

1st Floor Master Suite & Master Bath w/radiant heat floors. FR w/custom wet bar & pass-thru FP to 2nd TV room. 1st Floor Study w/built-ins. Finished, walkout lower level w/Media Room, Family Room, 5th BR w/full bath. Stone & HW floors. 5 zone heat/AC, 3 car heated gar.

MOORESTOWN Stunning French Traditional home completely renovated in 1999. 4 BR, 4 full baths & 2 half baths. 1st Floor Master Suite & Master Bath w/radiant heat marble floors.

Great Room w/gas fireplace. Joanne Hudson designed Kitchen w/ professional appliances. Heated inground pool & Cabana house w/ professional appls & granite. 3 car garage on private drive. 4 zone heat/ AC & fin. lower level w/entertaining & storage rooms. ….Realistically priced at $1,999,000

The World According to Josh, Nicole and Steven….

EXPERIENCE Aunt Anne EXPERIENCE, COMMITMENT, PASSION & KNOWLEDGE Give Our Aunt Anne A Call Today 856-795-4709

ANNE E. KOONS The #1 Agent of the Cherry Hill Home Marketing Center 2012 NJAR Circle of Excellence PLATINUM Award 2012 akoons@comcast.net

www.annekoons.com 142

direct 856-795-4709 office 856-428-8000 ext 1401 Route 70 E., Cherry Hill, N.J. 08034

ACCREDITED LUXURY HOME SPECIALIST LICENSED IN NJ & PA

26

31 OCTOBER 2013

REGIONSBUSINESS.COM

GBCA Construction Excellence Award Winners The 16th Annual Construction Excellence Awards recognizes excellence in construction, safety and diversity. The award reception was held Wednesday, October 30.

Winners include: — L.F. Driscoll Co. and Liberty Property/ Synterra: Best Commercial Project Over $10 Million for Five Crescent Drive at the Navy Yard — Clemens Construction and Community Legal Services: Best Commercial Project Under $10 Million for Community Legal Services Offices — T.N. Ward Company and Spectrum Health Services: Best Design Build Project for Haddington Health Center — Shoemaker Construction Co. and Philadelphia Housing Authority: Best Green Building Project for Norris Apartments — Haverstick-Borthwick Company and St. Peter’s Episcopal Church: Best Historic Preservation Project for St. Peter’s Episcopal Church — L.F. Driscoll Co. and The Barnes Foundation: Best Industrial/Institutional Project Over $10 Million for The Barnes Foundation.

Community Legal Services Offices

Norris Apartments

The Barnes Foundation

St. Peter’s Episcopal Church

Haddington Health Center

Pew Charitable Trusts (Excellence in Craftsmanship)

Q&A

31 OCTOBER 2013

REGIONSBUSINESS.COM

27

SIMON POWLES: Stephen Starr Events President Simon Powles (left, with Corporate Executive Chef Martin Heierling at the launch event of their new commissary kitchen on North Broad St.) knows what it takes to throw a good party. And when you have Stephen Starr’s restaurants at your disposal, it’s safe to say that party is going to be done right. Region’s Business talked with Mr. Powles about how the busy Fall/Winter season is treating Starr Events and what separates the company from the rest of the pack.

What’s the elevator pitch for Starr Events?

We are a special events caterer and a full service food service provider for cultural institutions and high level business environments. We bring to all areas real restaurant-quality food and an overall experience very much like the restaurants that we operate.

Does the catering/events side work closely with the Starr Restaurants side of the business?

Correct, we feature menu items from several of our signature concepts, so its important we really know the direction and the concept and vision for each of those restaurants, and the food that they serve. Because if we’re serving the edamame dumplings, which are one of the signature dishes in our Buddakan New York restaurant, they are prepared and served at the same level that you would get if you were sitting at a table for two in our restaurants.

What’s a typical day like for you?

I would say that 75 percent of my time is spent actually being with people, be it our team and our people that are on the front lines serving our guests.

I generally try to get out to events. I spend a lot of my time interacting with our clients at cultural institutions. We consider ourselves a very high-touch company

A STAR AT STARR EVENTS where we’re very integrated into what our clients’ needs are, what their goals and objectives are, and we work very closely to stay in touch with them, even at the very senior levelto make sure that each and every day we’re really striving in perfection in what we do for them. In 99 percent of the cases, the food, catering… it’s a secondary thing for our greater goal of what our clients are trying to achieve.

An auto company doing a product launch of a new car may throw a big party, but the evening is about the new car and what they’re launching, so what we provide is a component of the overall experience of that evening, so at every point we’re representing what our client is trying to achieve and we’ll do it. We’re not this corporation where people are sitting behind desks... we really manage it from the front lines.

What’s keeping Starr Events busy in Philadelphia?

Spring and fall season are the two biggest times of the year. The Philadelphia Museum of Art just opened their newest special exhibition, Léger, so we’ve been working heavily with them on cross promotion.

If you go to Parc restaurant you’ll see we have a Léger dessert that’s on the menu, you’ll’ see, when you get your check, information about the Léger exhibit. We’ll have a specialty cocktail that is themed around the exhibit, too, so we’re working really hard on all of that.

StarrEvents.com

28

31 OCTOBER 2013

REGIONSBUSINESS.COM

OPINION

Controller Must Know What Keeps People Coming Back

Alan Butkovitz is a candidate for Philadelphia City Controller. He can be reached at (267) 9085761 or by email at Alan@ AlanButkovitz.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.

Philadelphia is a city where people can break-in and establish their professional career.

From young professionals graduating from the premier universities we house, or transplants coming from other parts of the country seeking new opportunities, our city has increasingly become home to professionals of all types.

Our diverse economy includes many robust sectors, and in recent years we have done better at attracting job creators.

That being said, our city has a long and well documented history of getting in its own way, thereby preventing businesses from headquartering or relocating here.

As a father of two, and now grandfather of one, I know the importance of having secure jobs available to job seekers. Throughout my 23 years of public service, I have often fought against policies that will harm job creation and have encouraged a more sensible, business friendly approach by government.

While I do not believe that we should allow corporate interests to dominate the political discussion, it is important that we recognize and respect the important role business plays in our city and act responsibly to attract them.

Recently, there have been proposals that would hinder job creation. Back in 2010, bill 100635 was brought to City Council that would have resulted in a dramatic overhaul of the city’s business tax structure and the quadrupling of the gross receipts tax.

If implemented, the proposal would have threatened at least 75,000 existing jobs and would have created an uncertain environment for businesses looking to relocate to our city.

I testified before Council and spoke out against this bill, highlighting the potentially devastating consequences it would have for the construction, hotel, wholesale trade, and restaurant industries. I am proud to say that this bill was defeated, and many of these industries have thrived as a result.

In 2012, the Water Department called for a 28.5 percent rate hike for the following three years. From 2009-2012, consumers saw their water usage rates increase by 18 percent.

These increases were not only harmful to individuals, but also businesses within our city who were already reeling from an increase in storm water usage fees.

In July 2011, my office conducted an analysis of non-residential customer water accounts that indicated some 500 to 1,000 businesses would be greatly affected by these increases, many of which were located in

Keystone Opportunity Zones (KOZ).

Businesses located in these zones help the overall business climate by directly stabilizing depressed areas and require specific attention by policy makers.

One commercial property owner we spoke with, who operated a large shopping mall in the Northeast section of the city, faced a 900 percent increase that meant hundreds of thousands of dollars in

THERE ARE LIMITS PLACED ON MY OFFICE BY THE CITY CHARTER AND ENTRENCHED POWERS THAT OPPOSE OUR EFFORTS, BUT I HAVE NOT ALLOWED THOSE LIMITATIONS TO HINDER MY ABILITY TO AFFECT POSITIVE CHANGE IN GOVERNMENT.’ additional fees.

Another was facing an annual rate increase that was set to spike from $396 to $23,808.

While major corporations may be able to absorb these increased costs, mid-sized and small businesses faced a potentially crippling financial problem. Again I testified before Council, explaining that increasing storm water charges by exorbitant amounts would send a message that the city was not fulfilling commitments it made to businesses when they lured them to provide jobs here.

I successfully argued for a moratorium on the new rates and for modifications to the proposed rates, and following my testimony a bill establishing an independent rate making Board passed through Council.

We still vigorously oppose the city’s cost allocation, which is confiscatory on 500 specific businesses.

I have also successfully argued for a re-interpretation of the city’s revenue rules regarding hedge fund managers, making the case that the city should not tax all the dollars that are under a hedge fund’s management simply because the hedge fund is

located in the city of Philadelphia.

This practice prevented hedge fund management companies from headquartering here, restricting the local growth of this industry.

As a result of this change, at least one hedge fund manager has been able to relocate their offices from New Jersey to Philadelphia, bringing with them new job opportunities.

As part of our efforts to spur local job growth, our office has partnered with major Philadelphia anchor institutions, including Drexel University, to develop a plan that uses demand from these institutions to create local manufacturing jobs.

Although the manufacturing industry has suffered over the last 50 years, it is critical that we find a way to breathe new life into it and return our city to its place as a major manufacturing hub.

While many of my battles with city government are more publicly reported, such as my recent clash with Licenses and Inspections (L&I) over demolition practices, my approach and focus on all matters remains the same: We need competent, capable leaders who are committed to serving Philadelphia’s families.

Part of serving those families means providing a standard of living that does not include the fear of collapsing buildings, and providing parents and their children with a business climate that allows companies to provide job opportunities that provide security and stability.

As we move forward into the 21st century, it is critical that we responsibly balance the interests of the business community with those of families and residents.

During my time as Philadelphia Controller, I have fought every day to ensure that our city is a more attractive place to raise a family.

There are limits placed on my office by the city charter and entrenched powers that oppose our efforts, but I have not allowed those limitations to hinder my ability to affect positive change in government.

I am seeking a third term so that I can continue to increase our audits to root out fraud, waste, and abuse in city government, and build on the over $800 million in savings and efficiencies we’ve recommended in the last eight years.

This Tuesday, I am asking for your vote to continue this work.

31 OCTOBER 2013

REGIONSBUSINESS.COM

OPINION COMMENTARY AROUND THE WEB

Polls Paint A Dark Picture For Healthcare Law OK ... so we all know the storyline: The launch of Healthcare.gov, the Obama administration’s web portal for its healthcare reform initiative, has pretty much been an unmitigated disaster.

With the dawning of every news day comes a story about some problem or other with the web page or some previously unseen wrinkle in the law.

But after nearly a month of bad headlines, what do the voters think? As you might expect, after two or three weeks of merciless press, the picture is pretty dire.

From an Oct. 21 CBS News Poll: “From what you’ve heard or read, do you approve or disapprove of the health care law that was enacted in 2010?” The poll sampled 1,007 adults nationwide, with a margin of error of plus or minus 3 percent.

By a margin of 51-43 percent, voters said they somewhat or strongly disapproved of the new law. Just 6 percent were undecided.

From the same poll, asked if the law “goes too far in changing the U.S. health care system, not far enough, or is it about right,” voters said, 43-22 percent, that it went too far, compared to not far enough. Twentynine percent ruled the change just right.

From a CNN/ORC poll, conducted from Oct. 18-20. The poll had a margin of error of plus or minus 3.5 percent: Asked if they generally favored or opposed the legislation, voters responded 56-41 percent that they generally opposed it, compared to 3 percent who were unsure.

Meanwhile, in The Washington Post, Medicare boss Marilyn Tavenner has apologized to lawmakers for the botched rollout::

29

TWITTER REACTS

publicly Tuesday for the troubled launch of a Web site that is supposed to allow millions of uninsured Americans to buy coverage, but she said the problems are “fixable” and pledged that the site would soon work as promised.”

First Official Septa App Comes For iPhone Users

JOHN L. MICEK, PENNLIVE.COM 29 OCTOBER 2013

Congress Lags Public On Marijuana Legalization A Gallup poll released this week showing that 58 percent of Americans support legalizing marijuana should send a clear message to Congress.

It is time to talk seriously about decriminalizing marijuana on a federal level and leaving the regulation of pot to the states. The federal government already is leaning this way on a smaller scale, agreeing to stand down in the face of pot legalization in Washington and Colorado.

The legalization movement was often regarded as made up of libertarian crackpots. That a majority of Americans now say pot should be legal shows how much attitudes have changed.

Support for legalization was highest among the young, with 67 percent of those between 18 to 29 favoring legalization. But what’s surprising is support among Americans 65 and older, at 45 percent, has increased 14 percent since 2011.

The Denver Post opposed Amendment 64 mainly because of the conflict with federal law. But we have long supported the concept of legalizing marijuana nationwide and putting an end to the massive squandering of resources on prosecuting and punishing people for possessing and using marijuana. It appears many others now agree.

DIGITAL FIRST MEDIA

Septa announced this week the launch of the official SEPTA App for iPhone, which offers users real-time travel updates and other related information.

SEPTA’s in-house IT professionals developed the app for iPhone, and will continue working on improvements and enhancements for future versions.

The SEPTA App is free, and is now available for download from Apple’s App Store. The Authority is also in the process of developing an official SEPTA App for Android smart-phone users. The launch of the official SEPTA App for Android is expected in the coming months, according to the statement.

The SEPTA App for iPhone brings many of the travel resources already available on SEPTA’s Website, www. septa.org, into one convenient mobile tool. This includes popular online features such as Next To Arrive, TrainView and TransitView.

@vismajor @SEPTA Just downloaded your new official app. It’s great!! Thanks a bunch! :) 29 OCTOBER 2013

@cheffernan23

© COPYRIGHT 2013 INDEPENDENCE MEDIA 350 SENTRY PARKWAY, BLDG. 630, SUITE 100C BLUE BELL, PA 19422 (610) 572-7112 | WWW.REGIONSBUSINESS.COM

A technological feat for @SEPTA, no doubt, for them to finally release their app. Now, get rid of those tokens - that’s so 1950s #philly 29 OCTOBER 2013

29 OCTOBER 2013

@BourneFresh

@becswitz Heavens to Betsy. This septa app is everything I’ve been looking for since I came to this city.

29 OCTOBER 2013

27 OCTOBER 2013

A JOURNAL OF BUSINESS AND POLITICS

@RA_ARAUZ

SEPTA has an app. #welcometo2013

“The federal official who oversees new health-insurance exchanges apologized

REGION’S BUSINESS

Schedules for all modes of travel are available with the app, as are latest travel updates and alerts are also available through the System Status feature, which provides the latest service information for all SEPTA trains, buses and trolleys.

There is also a new travel tool available on the App — Find Nearest Location.

This utilizes GPS to provide customers with the closest SEPTA services, such as stations and transit routes.

A variety of other resources, such as fares, schedules and customer service contact information, are also available on the app, according to the statement.

Septa also announced additional Xfinity WiFi hot spots throughout the transit system.

To locate Xfinity hot spots available at SEPTA stations and throughout the city, download the Xfinity WiFi app or visit www.xfinity.com/wifi.

CONTENT PARTNERS

The SEPTA app... Just another reason I won’t complain about Philly Public transportation...

29 OCTOBER 2013

30

31 OCTOBER 2013

REGIONSBUSINESS.COM

BY THE NUMBERS

14

Number of universities in the PA state school system

120,000

Students currently enrolled in a state school

6%

Average increase in state school tuition vs. 2012

11%

Non-elderly women in Pennsylvania without healthcare, according to “The State of Women in America” report released this month

7.25 per 1,000

PA’s infant mortality rate, 12th highest in the country

2,400

Amount enrollment has decreased in the past year

$412,800,000

Funding provided to the state school system in 2013

$2,200,000,000 State school system annual operating budget

FLICKR.COM/SOCOLUNISTISA

FLICKR.COM/FAKOMAN

40,000

Average number of concussions among high school football players annually, according to a recent study from the University of Wisconsin-Madison and the Medical College of Wisconsin

10 per 100,000

8.6%

Number of study participants who sustained a footballrelated consussion during the season-long study period

1332

Maternal mortality rate in PA

<1%

High school football players participated in a recent study examining the effectiveness of helmets in preventing concussion rates FLICKR.COM/MELANIE NESTERUK

Change in rate of concussions among high school football players since 2008, regardless of helmet type

C Pennsylvania’s overall grade on the state of women’s healthcare

FIRST FRIDAY BIRTHDAY BASH FRIDAY, NOVEMBER 1 4 Calling all November Birthdaysâ&#x20AC;¦ One date randomly selected every hour.

Win free slot play or match play if your birthday is picked!

THIS WEEKEND AT 360

$25,000 NOVEMBER TO REMEMBER GIVEAWAY

FRIDAY, NOVEMBER 1 5 )( .&+(21 (3 -(

$ !

4

$ ! 5 *0+. %-' /,*2 (&*1*.- 0*& !%-'(01,*&(

Earn entries November 1 & 2 for your chance to win. Grand Prize $10,000 CASH!

Visit parxcasino.com/calendar for full listing.

BIG PLAY GIVEAWAY

GOBBLERâ&#x20AC;&#x2122;S GOLD TUESDAYS

New Members: Sign up for an Xclub card for your chance to win up to $500 free slot play when the Birds score on Game Day!

! $ $ ! 5 4 One winner every 30 minutes spins the Parx Prize Wheel for up to $1,000 free slot play!

# 7

PARX CASINO IS PROUD TO SUPPORT VETERANS! MONDAY, NOVEMBER 11 Veterans receive $10 free slot play PLUS a complimentary sandwich & soft drink!*

MANAGEMENT RESERVES THE RIGHT TO CHANGE OR CANCEL THESE PROMOTIONS AT ANY TIME. MUST BE PRESENT TO WIN. VISIT XCLUB FOR ADDITIONAL DETAILS, RULES & REGULATIONS. *MUST SHOW VETERANS ID CARD AT XCLUB TO REDEEM. GAMBLING PROBLEM? CALL 1.800.GAMBLER

The Ayer: Four bedroom, 5.5 bathroom residence with excellent entertaining space, an open Bulthaup kitchen, lavish master suite and 270 degree city views which include expansive Washington Square vistas. 4476 square feet. $3,995,000.

Independence Place: Two penthouses combined to create a bi-level penthouse with a wraparound balcony and panoramic river and city views, generous entertaining space, custom kitchen and lavish master suite. 4403 square feet. $1,800,000.

The Dorchester: Three bedroom, 3 bathroom home with treetop views of Rittenhouse Square, wonderful entertaining space, an eat-in-kitchen and 2 balconies overlooking The Square. 2714 square feet. $1,375,000.

East Side,West Side, We’re All Around TheTown

Parc Rittenhouse: Two bedroom (converted to a 1 bedroom with den), 2 bathroom with wonderful southern views and natural light, an open floor plan and luxurious master suite.

1079 square feet. $885,000.

220 West Washington Square: Entire floor residence overlooking Washington Square with 3 bedrooms and 3 baths, a chef's kitchen and grand entertaining space. 3720 square feet. $1,995,000.

AllanDombRealEstate 1845 Walnut Street, Philadelphia 215.545.1500 allandomb.com domb@allandomb.com

The Bank Building:Brand new 2 bedroom plus den, 2.5 bathroom condominium with barrel ceilings and exposed brick, open gourmet kitchen, magnificent bathrooms and wonderful city views and natural light. 2025 sf. $1,100,000.

The Warwick: Pristine 3 bedroom plus den, 3.5 bathroom condominium with panoramic city views, an open floor plan with designer kitchen, marble bathrooms and hardwood floors throughout. 2421 square feet. $1,250,000.

The Barclay: Beautifully appointed 3 bedroom, 3 bathroom condominium with 270 degree city views on a high floor, wonderfully restored original details with modern features, and new custom kitchen. 1900 square feet. $1,549,000.

PHILADELPHIA’S LARGEST SELLING CONDOMINIUM REALTOR ® WE COOPERATE WITH ALL REALTORS®

andrew.hennig@everbank.com 13ERM0318. NMLS ID: 399805 © 2013 EverBank. All rights reserved