In The Lead: Carnegie / The Comeback Continues

Hans and Virginia Gruenert wanted to start a theater company when they lived in New York City. That’s where you’d do something like that.

But Off the Wall Theater Co. was destined to be born in Western Pennsylvania when Mr. Gruenert’s work brought the couple here in 2007. And after five years in Washington, Pa., they found a better fit in Carnegie.

Their decision happened to mesh with the borough’s trajectory of late.

The economic doldrums that gripped the region for years didn’t miss Carnegie. Then in 2004, when Chartiers Creek overran the business district as a remnant of Hurricane Ivan, dozens of businesses were damaged and many did not return.

Read more:

http://www.post-gazette.com/in-the-lead-2015/reports/2015/05/14/In-The-Lead-Carnegie-The-comeback-continues

Concern Rises Over Break-Ins In Philly’s Suburbs

Debbie Campolo’s husband came home one day in February to find the front door of their house in Radnor smashed open. The target was clear – her jewelry box sat empty on the bedroom dresser.

“They took everything I had, even the stuff my kids made me,” said Campolo, a physical therapist who lives near Overbrook Golf Club.

Then she talked to three or four neighbors and workout pals who said the same thing had happened to them. And she found out that a few weeks before her break-in, a house three doors down had been hit the same way.

“They come in, pull a pillowcase off of a pillow, and then they dump the contents of a jewelry box right in it,” Campolo said.

Read more at http://www.philly.com/philly/news/20131007_Concern_rises_over_suburban_break-ins.html#hrufsVizGfw2Jb0b.99

Standard & Poor’s Increases Pittsburgh’s Credit Rating To A

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

The credit rating agency Standard & Poor’s has bumped up Pittsburgh’s credit rating three notches to A, a move that could save the city money on future borrowing by improving the city’s credit profile.

The agency cited a number of factors in moving the city’s credit rating up from BBB.  First, it said the city’s resilient economy and “deep and diverse economic base” which allowed the city to fare relatively well during the economic downturn.  It also cited the presence of two state-appointed oversight boards that have kept close tabs on the city’s budget since the state of Pennsylvania declared it financially distressed nearly a decade ago.

S&P analyst Andrew Teras also cited the city’s debt management, increase in reserves and ability to manage long-term liabilities, like pensions.

Read more: http://www.post-gazette.com/stories/business/news/standard-poors-increases-pittsburghs-credit-rating-to-a-693510/#ixzz2XX5qOifp

Reading Taking Aim At The Drug Trade

Editor’s note:  Dear Attorney General Kane.  Please zero in on Pottstown (18 miles from Reading).  It is overrun with drug dealers, Section 8 slumlords and has a very high crime rate.  The police force is overwhelmed.

Reading is one of the portals through which much of Pennsylvania is receiving illegal drugs, and state Attorney General Kathleen Kane has proposed a plan that she says could help stanch the flow.

“The major source of supply into Harrisburg and Lancaster and York is coming from Reading,” Kane said during an interview with the Reading Eagle at her office in Harrisburg.

Nearing the midway point of her first year in elective office, she said she viewed illegal drugs as the top issue for her in Berks County.  Other pressing issues include child sex predators and consumer protection.  Kane previously worked as a Lackawanna County prosecutor and as an attorney.

Supplies of crack, PCP, heroin or marijuana come to Reading from places such as Arizona, Illinois and New York, with the original major source being Mexico, Kane said.  In Reading, the drugs are repackaged into street-sale quantities and sent out to other parts of Pennsylvania.

Read more:  http://readingeagle.com/article.aspx?id=485005

Berks-Area Malls And Strips Find Challenges Of Economic Downturn Linger

There is no question that retail businesses have been suffering for the past two years as a result of a weak economy.

Economists predict only slight improvement in 2012. So what does that mean for our local malls and shopping centers?

Shopping Centers Today, a leading publication in the industry, reported in January that shopping center vacancies in the United States averaged 11 percent in the fourth quarter of 2011. That figure was up from 10.9 percent in the fourth quarter of 2010 and not far from the all-time high of 11.1 percent reached in the fourth quarter of 2007.

Read more: http://businessweekly.readingeagle.com/?p=1899