from MacroScope:

Inventory pile underscores risk Philly Fed could go the Empire State way

August 20, 2015

Obama visits General Electric in Schenectady New York

"Nothing to see here, folks" was the reaction most analysts had to a completely shocking report earlier this week that showed manufacturing business conditions in New York State deteriorated at their fastest pace since the start of the financial crisis.

from Photographers' Blog:

Jesus in Philadelphia

December 22, 2014

Philadelphia, PA

By Mark Makela

For nearly every day the last eight months, Michael Grant, 28, has dressed as Jesus Christ, and walked the streets of Philadelphia to share the Christian gospel by example. With long brown hair, a thick beard, and wearing a white robe and brown vest, he very much resembles the Westernized depiction of Jesus. Soon into this endeavor, he acquired the nickname of “Philly Jesus,” which he has gone by ever since.

from MuniLand:

Can Philadelphia borrow to save its schools?

By Cate Long
August 16, 2013

Philadelphia will borrow $50 million to fund the opening of its school system on September 9th. Reuters reported:

from MuniLand:

Philadelphia should address its basic issues

By Cate Long
April 23, 2013

Philadelphia held its bond investor conference last week. Although the press was not allowed to attend, the city did post the presentations on its website. Philadelphia Inquirer reporter Joe DiStefano neatly summarized the city’s political and fiscal position, which is not as rosy as the presentations make it seem:

from MuniLand:

Muniland has a disclosure problem

By Cate Long
April 16, 2013

There is a glaring gap in regulation - called Regulation Fair Disclosure - when it comes to protecting municipal bond investors. It appears that issuers may be in the habit of giving material nonpublic information to preferred institutional investors, while making retail and non-preferred investors sit out in the cold. Exhibit number one is the treatment of media members who have petitioned to attend the City of Philadelphia bond investor day scheduled for this Thursday. The Philadelphia Inquirer wrote:

from Unstructured Finance:

Tyrone Gilliams fights the law

January 14, 2013

By Matthew Goldstein

It's been a while since we last wrote about the legal struggles of Tyrone Gilliams, the Philadelphia commodities trader/hip-hop promoter/wannabe reality show star/self-styled preacher, whom federal authorities have charged with scamming investors out of $5 million. But the University of Pennslyania graduate is making news again with the scheduled start of his Jan. 22 criminal trial in New York federal court.

from MuniLand:

How American municipalities can learn from Parisian mistakes

By Cate Long
April 25, 2012

Across the nation cash-strapped municipalities are considering the sale of their public-utility systems. These moves are intended to raise cash and rid the municipalities of expensive liabilities such as debt service and pension obligations. But officials considering this approach might do well to look to France and other nations that are rapidly moving in the opposite direction with a "remunicipalization" of their utility systems. In 2010, Paris, in the best known case of remunicipalization, ended contracts with the world's two biggest water service companies, Suez and Veolia, bringing an end to their 100-year private duopoly. The reversal of a century-old practice in Paris was an acceleration of an international movement away from private control. Per

from Photographers' Blog:

World War Z goes to Glasgow

August 25, 2011

By David Moir

The post-apocalyptic horror novel, ‘World War Z’, by Max Brooks, has been adapted into a film starring Brad Pitt and Mireille Enos and directed by Marc Forster. It has started filming in Scotland. The set is mainly on the streets in and around George Square in Glasgow, with its open space and architecture, substituting for Philadelphia.

from MuniLand:

Muni sweeps: Municipal unrest

By Cate Long
May 2, 2011

Mayors take out the pitchforks

William Alden of Huffington Post writes about a "testy" encounter between mayors and federal officials. The federal dollars for municipalities from the American Recovery Act have basically ended and revenues for state and local governments remain weak. We should expect to see more of this.