Daily Archives: October 20, 2011
Corbett Signs Legislation To Allow Harrisburg Financial Takeover
Pennsylvania Governor Tom Corbett has signed legislation that will allow a state takeover of Harrisburg’s financial affairs. The capital of Pennsylvania is drowning in debt from a failed retrofit of the city’s incinerator. Harrisburg is over $300 million in debt.
Harrisburg was accepted into the Act 47 Program for financially distressed municipalities but City Council failed to authorize the recommendations made by the Act 47 team. Neither was the city able to come up their own plan to emerge from certain bankruptcy.
Disgusted with the inability of city leadership to move forward, Pennsylvania State Senator Jeff Piccola introduced legistion to allow the Commonwealth of Pennsylvania to take control of Harrisburg’s finances. This legislation was signed by the governor this morning.
Manufacturing Activity In Metropolitan Philadelphia Rebounding
WASHINGTON (AP) — Manufacturing grew in the Philadelphia region in October after contracting for two straight months, a sign factories are recovering after a sluggish summer.
An index of regional manufacturing activity jumped to 8.7 from -17.5 in September, the Federal Reserve Bank of Philadelphia said Thursday. It marked the best reading in six months. A positive reading suggests growth…
Read the rest of the article here: http://www.thereporteronline.com/articles/2011/10/20/business/doc4ea07ba7e65ca412945682.txt
Deposed Lybian Despot, Moammar Kadafi Reported Killed
REPORTING FROM BEIRUT — Libya’s provisional prime minister, Mahmoud Jibril, said Thursday that ousted leader Moammar Kadafi has been killed.
“We have been waiting for this moment for a long time,” Jibril told a news conference in the capital, Tripoli, according to the Associated Press. “Moammar Kadafi has been killed.”…
Read the entire article: http://latimesblogs.latimes.com/world_now/2011/10/libya-prime-minister-says-moammar-kadafi-is-dead.html