Hillary Clinton vs. Uber and the Sharing Economy

hillary clinton free library

(Photo by HughE Dillon)

Hillary Clinton has put Uber, Airbnb and the sharing economy in her crosshairs as she runs for president.

In a speech laying out her economic agenda on Monday, Clinton acknowledged that “many Americans are making extra money renting out a spare room,” or even “driving their own car.” But, she cautioned that it’s “raising hard questions about workplace protections and what a good job will look like in the future.” Read more »

MAP: Where Income Inequality Is the Worst in Philly

We’re starting to wonder why the Occupy movement didn’t start in Philadelphia.

For the umpteenth time in the last few years, a study has just come out showing that the Philly region is one of most unequal areas in the country. The Urban Institute looked at income and educational inequality in the nation’s largest “commuting zones” — which are similar to metropolitan areas — and found that Philadelphia had the second-highest degree of disparity in 2010. Read more »

NJ’s Economic Growth Near Worst; PA Just Average

GDP chartNew data from the U.S. Bureau of Economic Analysis finds that New Jersey had poor economic growth in 2014. Compared to other states, New Jersey ranked 46th, with its gross domestic product growing just 0.4 percent over the course of the year.

Pennsylvania saw about average growth with a 1.8 percent uptick, while Delaware was at 1.2 percent. Read more »

Port Plan: 8,100 New Jobs are Possible

The City Controller's Officer argues that 8,100 jobs are possible at Southport.

The City Controller’s Officer argues that 8,100 jobs are possible at Southport.

What should we do with Southport? The 239-acre parcel at the east end of the Philadelphia Navy Yard has been the topic of much debate over the years. Now that a plan is in place to deepen the Delaware River from 40 to 45 feet — allowing larger cargo ships to pass through — it’s high time to get the space in order.

In the latest re-development plan, the Philadelphia Regional Port Authority has received 16 proposals for development and is reviewing the plans.

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Bank Execs Indicted For Allegedly “Hiding” Bad Loans

Two former executives of Wilmington Trust Corp. have been indicted for making false statements to the government in connection with the bank’s handling of bad loans during the economic crisis.

William North, the former chief credit officer, and Kevyn Rakowski, the former controller, are accused of hiding the extent of bad loans on the Wilmington Trust books in October and November of 2009. They were each charged with one count of making false statements to the Securities and Exchange Commission, and three counts of making false statements to the Federal Reserve.

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Philly’s Business Environment Ranks Near Last in New Study

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Shutterstock

Almost every day, some organization releases a report ranking U.S. cities. Best cities for buying a home. Best cities to start a restaurant. Best cities to raise a family.

I’m typically a bit wary of such studies because the methodology can seem sort of random. Remember when Condé Nast Traveler ranked Philly the second-best shopping city in the world — ahead of Milan, Paris and New York? I love Walnut Street as much as the next person, but it’s safe to say that such rankings don’t always ring true.

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1,250 New Manufacturing Jobs if “Eds & Meds” Buy Local, Says Report

City Controller Alan Butkovitz has a new plan to create manufacturing jobs. Photo Credit: Curtis Blessing

Buy local says City Controller Alan Butkovitz. Photo Credit: Curtis Blessing

 

City Controller Alan Butkovitz has an ambitious plan to bolster the city’s manufacturing sector: Get anchor businesses like hospitals and colleges to buy local.

If they did buy medical supplies, refrigeration equipment or office supplies from local firms, it would create 1,250 new manufacturing jobs in the city, according to a new report issued from Butkovitz’s office. It even says that such a plan would generate 4,000 indirect jobs and have a total economic impact of $292 million for Philadelphia.

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Airport Expansion Is Big for Philly Economy

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Shutterstock

Now that a long-awaited settlement between the Philadelphia International Airport and neighboring Tinicum Township is a done deal, it’s an interesting time to examine the potential economic impact of the airport’s expansion plan.

It features an extended runway to accommodate larger planes; a new “automated people mover system;” a consolidated rental car area to cut down on traffic; and a redesign to Terminals B and C (which I know from personal experience can get very busy).

Airport officials have been saying for quite some time that the economic impact of PHL would grow from $14.4 billion annually to $26.4 billion in 2025. CEO Mark Gale says he plans to release updated figures in the future.

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Philadelphia Economic Growth Among Worst Worldwide

Photo credit: Daniel Ge via Flickr.

Photo credit: Daniel Ge via Flickr.

The Philadelphia metro area was ranked 250th for economic growth from 2013 to 2014 in a survey by the Brookings Institution of the world’s 300 biggest metropolitan economies.

Ouch. That’s in the bottom 20 percent.

The report also says our region has not recovered from the recession, determined by the fact that our GDP per capita and employment were lower in 2014 than in 2007. Only 60 other metros in the world have failed to recover in either indicator.

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