Stop panicking about Pennsylvania pensions, says Randy Albright, Gov. Wolf's budget secretary. Yes, the state's history of overpromising and underfunding, so veteran public workers (and elected officials) can collect nearly their old take-home pay as retirees, has dug taxpayers into a hole.
When newly developed software works - when clients start buying it - the talk gets big fast: "We are changing the way code is built," says Chris Gali, cofounder of Enterprise Cloudworks, from the conference room past the pool table in his high-rise offices at 1818 Market St.
When Janney Montgomery Scott, the largest investment bank and brokerage based in Philadelphia, moved across Market Street to new offices in 2011, Pennsylvania offered the firm $11.5 million in grants. State officials justified the gifts with the expectation that this would keep 550 high-paid Janney jobs in the city, and the hope that it would add more.
The Internal Revenue Service and the Securities and Exchange Commission are still reviewing allegations that Vanguard Group Inc.'s unusual business structure operates in violation of federal tax law, according to attorneys for former Vanguard tax lawyer David Danon, who brought the allegations to the agencies' attention in 2013.
When Starnes Walker was a newly minted physicist and Navy electronic-weapons veteran in the 1970s, his job at Phillips Petroleum Corp. included finding ways to replace human oil-refinery operators, who once hand-checked miles of pipes, with digitally networked monitors and switches.