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Recent News Articles
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Local Economy
March 3, 2009
Philadelphia Mayor to Discuss Results of Citizen Budget Workshops on WHYY-FM
This will be the first time Philadelphia Mayor Michael Nutter will publicly comment on the results from the citizen budget workshops. The results show most residents are in favor of increasing the amusement tax and even the much hated wage-tax.
March 3, 2009
Mayor Nutter Surprised and Concerned by Citizens Call for Wage Tax Hike
Philadelphia Mayor Michael Nutter spoke this morning on WHYY’s Radio Times said he was surprised by the widespread support in the citizen budget workshops for boosting the city’s wage tax.
March 2, 2009
Philadelphia Mayor to Discuss Results of Citizen Budget Workshops on WHYY-FM
Philadelphia Mayor Michael Nutter is scheduled to appear on Radio Times with Marty Moss-Coane on Tuesday, March 3. @ 10 a.m.. He is expected to give his reaction to the 4 public budget forums held by The Penn Project for Civic Engagement and WHYY.
February 27, 2009
Elmer Smith: Time to dive right in to save those pools
To date the Splash and Summer fund has only raised $300,000 to keep City pools open this summer. The goal was to reach $1.2 million by March 6, 2009.
February 27, 2009
Annette John-Hall: Kitchen debate over city funds
Mayor Nutter visited Helen Divers' kitchen to have an intimate chat on the budget with Helen's
neighbors.
February 27, 2009
City tax assessment plan delayed again
The BRT says they are almost done reassessing 570,000 City properties.
February 27, 2009
Budget pinch costs jobs at D.A.'s office
The D.A.'s office had to rescind 12 offers to future lawyers this week.
February 27, 2009
Early opposition to Art Museum price increases from City Council
The Philadelphia Museum of Art is struggling to make ends meet. The museum wants to raise admission prices which is subject to city approval. But some members of City Council, are reluctant to immediately embrace the idea. WHYY's Tom MacDonald reports.
February 27, 2009
1,800 mayors for a day, 53 distinctive city budgets
About 1,800 Philadelphians took part in the four Tight Times, Tough Choices workshops. Check out also the reports and photos posted on It’s Our City by independent bloggers whom we invited to cover the events. Check out also the breakout group reports, results, video testimonies and “wailing wall” statements gathered at these events.
February 26, 2009
No. 1 Philadelphia issue: Jobs
In a recent poll the lack of jobs was the number one problem Philadelphian's where facing.
February 25, 2009
Museum of Art cutting its staff
With endowments down by $90 million the Art Museum is forced to eliminate 30 positions, have senior staff take 5 to 10% paycut's and possibly raise the price of admission by $4.
February 25, 2009
Outside counsel blows legal budget
The Law Department is one of the two departments that overspent their budgets this year. They where off by $5 million due to hiring outside counsel for legal matters.
February 25, 2009
Workshops complete, Nutter continues work on 2010 budget
The four community budget workshops are over, but work on the city budget continues.
February 25, 2009
Budget Workshops Didn’t Give Citizens Enough Time
The last citizen budget workshop is completed. It's a consensus that citizens in all four workshops found balancing the budget a daunting task and not one group was able to complete the budget.
February 24, 2009
Local Foreclosure Diversion Program Gains Nat'l Attention
An innovative pilot program that helps Philadelphia homeowners avoid foreclosure is drawing national interest.
February 24, 2009
Pool donations are lagging
With only 11 days left of the Splash and Summer Fund the city is less than halfway in meeting it's financial goal of $600,000 to keep 30 pools opened 3 days a week.
February 23, 2009
City Budget: Short-term fixes, long-term troubles
So far the budget is focused on two options cutting services and raising revenues through taxes and fees. But it' not focusing on the rising costs of healthcare, pensions and prison funding.
February 23, 2009
Budget workshops a Nutter-free zones
Mayor Nutter has been absent from the budget workshops because he wasn't invited. They wanted the groups to focus on talking to each other as opposed to the Mayor.
February 23, 2009
Dave Davies: Public-input hearings, bless 'em, won't solve city's budget puzzle
To date none of the workshops groups have been able to balance the budget. If anything it's been a lesson to citizens about the challenges The City of Philadelphia faces.
February 23, 2009
City Given Deadline To Close Budget Gap
Philadelphia was given 45 days to fix it's $47 million deficit.
February 23, 2009
Annette John-Hall: At youth forum, mayor gets an earful
Philadelphia Youth Commission hosted it's first forum on the budget crisis and voiced their concerns to Mayor Nutter.
February 20, 2009
Nutter not ready to look to unions for city savings
City unions are not being discussed at the community workshops. Mayor Nutter is focusing on what the City of Philadelphia can control.
February 19, 2009
Video Testimonials from Budget Workshop 2 Online
Listen to the citizens videos from the last two "Tough Time Tough Choices" Workshops.
February 19, 2009
Obama foreclosure plan draws inspiration from Philadelphia
President Obama models his home foreclosure plan after Mayor Nutter's Philadelphia's Mortgage Foreclosure Protection Program.
February 19, 2009
Trash Fee A Taxing Dilemma Should City Charge For Certain Services?
Article questions whether we should be charged fees for city services.
February 18, 2009
Ask the Mayor
KYW city hall bureau chief Mike Dunn asks Mayor Michael Nutter questions from KYW listeners regarding stop, question and frisk, police department cuts, and the possibility of fees for trash pickup.
February 18, 2009
Trash fee - an idea city can't refuse?
The Street Department proposes charging residents $5 a week for trash pickup that would help to generate $85 million to $105 million annually.
February 18, 2009
Mayor Nutter Receives Trash Fee Proposal
The proposal was formally presented to Mayor Nutter yesterday - charging residents $5 a week for trash pick up would pay 100% of the current trash collection operation. Or they can reduce the frequency of trash collection to two or three times a month.
Regional Economy
March 2, 2009
Rendell wants 'Walking Around Money' to take a seat
In Rendell's proposed 2010 budget he is zeroing out grant money. Of the $36.5 million he had budgeted from last year he has only used $2.4 million.
February 27, 2009
Boost In Jobless Pay For PA
Pa. residents will be getting a $25 raise in their unemployment checks.
February 26, 2009
Rendell cuts now too deep for GOP
State lawmakers are upset by proposed budget cuts for agriculture and parks conservation.
February 26, 2009
Pennsylvania ranks third in January job losses due to mass layoffs
Almost 30,000 Pennsylvania's lost their jobs in January.
February 25, 2009
Art, history may suffer under Pa. budget proposal
Gov Rendell's new budget starting July 1 could trim $4 million in grants for museums and historical societies and trim 10% to funds to larger institutions.
February 24, 2009
Pa. Governor Defers Possible Help for Bankrupt Philadelphia Newspapers
Gov Rendell is going to wait and see about bailing out Philadelphia's two major daily newspapers.
February 24, 2009
Pa. to seek U.S. loan for unemployment fund
With unemployment claims raising in Pennsylvania and contributions through payroll taxes decreasing it has caused the unemployment compensation fund to plummet by $400 million in six weeks.
February 23, 2009
Rendell appoints new stimulus tsar: himself
Gov. Rendell is focusing his efforts over the next two years on ensuring that the federal economic stimulus money is spent wisely in Pennsylvania.
National Economy
March 3, 2009
Corzine 'may very well turn to' unpaid furloughs for state workers
To close the $7 billion shortfall New Jersey is facing Gov. Corzine is considering raising income taxes on New Jersey's wealthiest residents, imposing 12 day furloughs and a wage freeze for state workers, and increases in the cigarette, wine and liquor taxes .
March 3, 2009
Big sell-off sends Dow below 7,000
The Dow Jones industrial average plummeted below 7,000 at the opening bell and kept sinking all day, finishing at 6,763.29 - a loss of nearly 300 points.
March 2, 2009
Bad Economy Causes Two Queens, NY Hospitals To Close Doors, Lay Off 2,500 Employees
Two hospitals in Queens have closed due to the bad economy laying off 2,500 employees.
March 2, 2009
COIN-OP AND VLTs: As Economy Worsens, States And Operators Seek Video Poker Expansion
Some state governments are considering changing legal restrictions on gambling, regarding everything from casino games to operator-run video poker.
March 2, 2009
Calif. jobless hits double digits
Crumbling housing and consumer sectors propel unemployment rate to 10.1%, the highest in 25 years.
March 2, 2009
Consumer spending up, ending slide
Consumer spending rose 0.6% in the month of January.
February 27, 2009
Jobless Angry at Possibility of No Benefits
Governors in 9 Southern states are considering rejecting millions of dollars in federal stimulus money that would help their unemployed residents. Governors fear it will raise state taxes after the money runs out.
February 26, 2009
Labor Department: New Jobless Claims Reach 667,000
The number of American's receiving unemployment benefits topped 5.1 million.
February 26, 2009
Durable Goods Orders Drop for Sixth Consecutive Month
Companies are cutting back on spending causing the demand for durable goods to fall for the past six months.
February 26, 2009
With Downturn, Calls to Florida Help Line Grow
The City of Miami is experiencing a rise in calls for financial help from it's citizens.
February 26, 2009
In Arkansas and elsewhere, economy stable
Midwestern states missed the housing boom, but now they aren't as effect by the current economic crisis.
February 25, 2009
Bailed out? Don't get caught having a good time
A Chicago bank who received money from the TARP bailout got caught doing business the old way by hosting an annual golf tournament followed by lavish parties.
February 24, 2009
State seeks more furlough days
The Governor of Oregon wants unions to take 26 unpaid furlough days spread over the next three years.
February 24, 2009
Obama tells mayors Texas could lose out if Gov. Perry rejects stimulus funds
The Governor of Texas may not accept stimulus dollars fearing it will cost taxpayers more money after the funding dollars run out.
February 23, 2009
Spend! Cut! Obama's budget dilemma
On Thursday, President Obama will unveil his 2010 budget request to Congress.
February 23, 2009
Economists see deeper pain, followed by gain
Economic forecasters are saying that the recession will deepen the first half of 2009 and start to turnaround in later half of the year and be followed by a solid recovery in 2010.
February 20, 2009
Some states to use stimulus to forestall layoffs
Despite a decline in tax revenues, many states aren’t laying off employees as fast as the private sector. Some states intend to use part of the federal stimulus to keep employees on their payrolls.
February 20, 2009
With crisis as catalyst, gov's push big changes
State government is using the current fiscal crisis as an opportunity to consolidate agencies, streamline processes and cut out layers of local government.
February 19, 2009
California resolves budget standoff
California was able to pass a budget this morning adverting laying off 10,000 employees.
February 19, 2009
627K new jobless claims; continuing claims near 5M
number of laid-off workers receiving unemployment benefits has jumped to an all-time high near 5 million while new jobless claims remain well above 600,000.
February 18, 2009
Corzine proposes more cuts in budget
With New Jersey's budget shortfall of $1.46 billion workers may have to take two unpaid furloughs days one in May and one in June.
Global Economy
March 3, 2009
Spanish jobless total rises again
There are 3.5 million Spaniards out of work the highest unemployment rate in the EU.
March 3, 2009
China warns of unemployment risk
The biggest challenge facing China is not slowing growth but unemployment, which could trigger social unrest.
March 2, 2009
Ukraine Teeters as Citizens Blame Banks and Government
Steel plants and factories are laying off, long lines are forming at banks. Ukraine's economy is in trouble.
March 2, 2009
Growing Economic Crisis Threatens the Idea of One Europe
The leaders of the European Union gathered Sunday in Brussels in an emergency summit meeting that seemed to highlight the very worries it was designed to calm: that the world economic crisis has unleashed forces threatening to split Europe into rival camps.
March 2, 2009
Indian economy in sharp slowdown
The sharp slowdown in both China and India, which have been among the world's fastest-growing economies, will have a significant impact on the world economy, with the major industrial countries already mired in recession.
February 27, 2009
Eastern Europe banks get bail-out
Eastern European banks are being bailed out with $31 billion.
February 25, 2009
Japan exports drop 46% in January
Exports from Japan have dropped by 45.7%. Demand for Japanese cars dropped by 69%.
February 25, 2009
South Africa sees economy shrink
South Africa's economy has shrunk for the first time in ten years. As demand for diamonds, platinum and gold fell.
February 24, 2009
European industrial output slumps
The ailing economy has caused drops in demand for machinery and electronic equipment by 22.3% from last year.
February 24, 2009
As It Falters, Eastern Europe Raises Risks
Eastern Europe maybe on the verge of a financial bust after embracing American-style capitalism.
February 23, 2009
Global downturn: In graphics
A graphical depiction of the tumultuous times on record in the global financial markets.
February 23, 2009
Slump hits China multinationals
Nearly 70% of multinational companies in China plan to cut recruitment this year, and more than a quarter have laid off staff already.
February 20, 2009
Home repossessions rise to 40,000
The number of homes repossessed in the UK has risen by 54% last year. The government is looking into initiatives to keep people in their homes.
February 18, 2009
Swift, steep downturn crisscrosses globe
Most Western developed economies are seeing a deep downturn killing hopes of a quick recovery.