philadelphia daily record

PhiladelphiaDaily Record

Vol. III No. 30 (400) Keeping You Posted With The Politics Of Philadelphia February 21, 2012

Getting To Know You!

JOINING Congressman Chaka Fattah Commissioner at introductory meeting with his new con-

stituents in Lower Merion Township were Township Commissioner Cheryl Gelber, State Rep. Pam

DeLissio and Commissioner Liz Rogan; as he answers questions. Fattah spoke about education issues,

economic investment, and cutbacks in state budget. Other picture page 5. Photo: Bonnie Squires

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T h e P h i l a d e l p h i aP u b l i c R e c o r d

C a l e n d a rFeb. 23- State Rep. James

Roebuck celebrates Birth-

day Party at Warmdaddy’s,

1400 S. Columbus Blvd.,

5:30-8 p.m. Jazz, food.

Friend: $125. Sponsor

$250. Benefactor: $500.

RSVP (215) 382-1268.

Feb. 24- Sen. VIncent

Hughes hosts Veterans

Benefits Seminar, pre-

sented by Richard M. Gor-

don III, 10 a.m. to 1 p.m.

at Park Av. Banquet Hall,

4952 Parkside. RSVP 215-

879-7777.

Feb. 25- Mothers in Charge

holds Flapjack Fundraiser

at Applebee’s, 9141 Roo-

sevelt Blvd., 8-10 a.m.

Donation $10, $5 for kids

under 11. For info (215)

228-1718.

Feb. 26- St. Patrick’s Day

Parade in Phila. Fundraiser

at Insulators’ Ha., 2014

Hornig Rd., 3-7 p.m. Beer,

wine, soda and buffet.

Music and Celtic Flame

Irish Dancers. $35. Con-

tact Mary Frances Fogg

(267) 228-0418, Kathy

Fanning or Joe Fox at St.

Patrick’s Day Observance

Ass’n, www.philadelphi-

astpatsparade.com.

Feb. 26- Congressman Bob

Brady Bunch Winter Party

at Finnigan’s Wake, 3rd &

Spring Garden Sts., 3-7

p.m. Tickets $35. For info,

reservations Tom Johnson

(215-423-9027).

Feb. 26- Fundraiser for

State Rep candidate Numa

St. Louis at Nina Ahmad’s

house, 405 E. Gowen Ave.,

3:30-5:30 p.m. Contribu-

tion levels $50-$500. Mail

checks payable to Numa &

Friends for a New Direc-

tion at 5322 N. Carlisle

St., Phila., PA 19141.

RSVP (215) 621-8957 or

[email protected].

Feb. 27- Philadelphia Tea

Party Patriots-South

Philadelphia Chapter-in-

vites all to har Publisher

Jim Foster of Germantown

Courier. For info Bartf-

barfa Dahdah Anderson,

609-634-4584.

Mar. 1- State Representa-

tives Kevin and Brendan

Boyle kick off reelection

campaigns at The Hop

Angel, 7980 Oxford Ave.,

5:30-7:30 p.m. Buffet,

open bar and 50/50 raffle

$30 per person. RSVP

(276) 988-6257 or send

checks payable to Friends

of Kevin Boyle, 8035

Burholme Ave., Phila., PA

19111.

THE PHILADELPHIA DAILY RECORD

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On Friday, US Sen. Pat Toomey

(R-Pa.) and Chuck Schumer (D-

N.Y.) applauded the House Fi-

nancial Services Committee’s

strong bipartisan support for

their plan to make it easier for

growing firms to access the pub-

lic markets so they can expand

and create jobs. The proposal,

also co-sponsored in the Senate

by Sens. Mark Warner (D-Va.),

Mike Crapo (R-Ida.) and Tom

Carper (D-Del.), passed a major

legislative hurdle the night be-

fore, being voted out of the

House Financial Services Com-

mittee on a strong, bipartisan

vote, 54-1. The House version of

the Senators’ bill, the Reopening

American Capital Markets to

Emerging Growth Companies

Act of 2011, has 51 co-sponsors.

The Senators’ initial-public-of-

fering bill would make it easier

for small and medium-sized

companies to raise capital

through public markets. Studies

show more than 90% of job

growth occurs after companies

go public, but fewer small and

medium-sized companies are

taking this step in recent years,

often citing the administrative

and compliance burdens as the

main obstacles to going public.

The Schumer-Toomey bill would

reduce the hurdles of an IPO of-

fering by phasing in many of the

costliest obligations over time

while maintaining key investor

protections.

Schumer said, “During difficult

economic times, it is critical that

we give growing businesses, in-

novators, inventors and entrepre-

neurs the room to breathe,

flourish and create jobs, the vast

majority of which occurs after

companies go public.

“I am heartened by the bipartisan

support this job-creating legisla-

tion,” Toomey said. “In this

struggling economy, Congress

should do everything it can to

make it easier for small busi-

nesses to grow and create new

jobs. This legislation will make

it easier for firms to go public

and in turn, create many more

jobs. This legislation offers a bi-

partisan path for Congress to

help get our economy moving

again.”

“The IPO Task Force estimates

that the average cost for a com-

pany to go public is $2.5 million,

and the annual cost to stay pub-

lic is $1.5 million,” said

Crapo.“This bipartisan legisla-

tion would help reduce these

costs and open the IPO process

to a greater number of private

companies, making it easier for

young companies to access the

public markets and capital they

need to create jobs.”

In a recent survey conducted by

Nasdaq and the National Venture

Capital Association, 86% of

CEOs cited “accounting and

compliance costs” and 80% cited

“regulatory risks” as key con-

cerns about going public. With

companies taking longer than

ever to go public – on average

9.4 years, compared to fewer

than five years in the 1980s –

rapid expansion and job growth

is being delayed, and the Sena-

tors’ legislation aims to acceler-

ate the expansion and job growth

made possible by accessing pub-

lic markets.

The Schumer-Toomey bill would

establish a new category of is-

suers, called emerging-growth

companies, that have less than

$1 billion in annual revenues at

the time they register with the

US Securities & Exchange Com-

mission and less than $700 mil-

lion in publicly traded shares

after the IPO. The legislation

creates a transitional on-ramp

status for these companies to en-

courage them to go public. The

on-ramp period would last as

many as five years, or until a

company reaches $1 billion in

annual revenue or $700 million

in publicly-traded shares. Full

compliance with certain obliga-

tions would be phased in during

that period.

Toomey’s Bill WillEase Small-Biz Credit



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Casey: Stop CounterfeitCancer DrugCasey Calls on FDA to Help PA

Hospitals Deal With Outbreak of

Counterfeit Cancer Drug

US Sen. Bob Casey (D-Pa.) called

on the Food & Drug Administra-

tion to work with Pennsylvania

hospitals and healthcare providers

to ensure patients in the state are

not receiving a counterfeit cancer

drug that has flooded the US mar-

ket.

This week it was revealed the can-

cer drug Avastin has been counter-

feited and distributed throughout

the US. The drug’s counterfeit ver-

sion is missing an active ingredient

that helps patients fight the dis-

ease. Currently the FDA does not

know how far the drug, which is

used to treat cancers of the colon,

lung, kidney and brain, has been

distributed.



“The idea that a counterfeit cancer

drug could enter the US market is

shocking and unacceptable,” the

Senator said. “The FDA needs to

step up right away and work with

Pennsylvania’s hospitals and

healthcare providers to ensure sick

patients aren’t taking this counter-

feit drug. Furthermore, the FDA,

the pharmaceutical industry, drug

distributors, and other stakehold-

ers need to work with Congress to

pass legislation to create a nation-

wide tracking system so this never

happens again.”

Pennsylvania’s hospitals and

healthcare providers treat millions

of patients every year – many of

them for cancer. The possibility

these patients could be receiving a

counterfeit drug is a call to action

for the FDA to step up and help

Pennsylvanians deal with this out-

break.

Patients taking Avastin who have

questions about the safety of their

drug should contact their health

providers.

Fattah Meets NewLower Merion Voters

CONGRESSMAN CHAKA FATTAH will become the elected official in Washington to represent Lower

Merion after November election, but he decided to come out and meet his new constituents early on.

Civic associations hosted Fattah and about 100 of his new constituents at Merion Tribute House Thurs-

day night, where Fattah discussed issues and answered questions. Seen here welcoming Congressman

are, from left, State Rep. Tim Briggs; Karen Ayt, president of Gladwyne Civic Association; Fattah; and

LM Commissioner Brian Gordon. Photo: Bonnie Squires



Kitchen Leads OfficialsIn Food-Stamp ProtestState Sen. Shirley Kitchen (D-N. Phila.)

called Gov. Tom Corbett’s 2012-13 state

budget proposal and his administration’s

plans to reinstate an asset test on Sup-

plemental Nutrition Assistance Plan re-

cipients an assault on working-class

families and the state’s most-vulnerable

citizens.

Kitchen, along with local elected offi-

cials, social-services organizations and

community leaders, gathered Friday at

the Philadelphia Recovery Community

Center to point out the drastic impacts

the Corbett administration’s plans would

have on the public.

“The Corbett Administration has once

again announced a state budget plan that

proposes misguided cuts to important

programs and services,” Kitchen said.

The Governor’s budget calls for $400

million in education cuts, from pre-

kindergarten to college. Under his pro-

posal, public school systems would see

$100 million in cuts; state-related col-

leges would see a 30% decrease in fund-

ing and state colleges would see a 20%

cut.

“Our school districts are in financial dis-

tress. Philadelphia has been laying off

teachers, nurses, librarians and security

officers. They can’t take any more

pain,” Kitchen said. “Additionally, our

state-related and state colleges are sup-

posed to be institutions where families

can afford to send their children to re-

ceive a quality affordable education. But

under the Governor’s plan, a diploma

will be placed even farther out of reach

for too many people.”

The Dept. of Welfare would see $631

million in cuts to crucial human-ser-

vices programs if the Governor has his

way, Kitchen said.

“The Corbett Administration’s priorities

are an assault on the middle class and

the state’s most vulnerable citizens,”

Kitchen said. “If Gov. Corbett wants to

close the state’s deficit, he should focus

instead on closing Pennsylvania’s cor-

porate tax loopholes, which are allowing

major wealthy companies to play the

system and avoid paying taxes.”

In addition to the proposed state budget

cuts, last month the Corbett Administra-

tion announced an asset test on food-

stamp recipients.

Under the administration’s plan, any

SNAP recipient under the age of 60 who

has more than $5,500 in savings and as-

sets, including cash, stocks, bonds and

money in checking and savings ac-

counts, would no longer qualify. Indi-

viduals who are over 60 or disabled who

have $9,000 in savings and assets would

no longer qualify.

“An asset test is demoralizing to fami-

lies who are already on the brink,”

Kitchen said. “Most states have abol-

ished asset tests, including Pennsylvania

in 2008. To reinstate it at a time when so

many people are still out of work and

suffering would only move this state

backwards.”



Hughes Cries For SwiftMove On Foreclosures

In reaction to a report released by RealtyTrac

on Thursday indicating that foreclosures in

Pennsylvania have risen 24% since January

2011, State Sen. Vincent Hughes (D-W.

Phila.) said immediate aid is needed to assist

homeowners in danger of losing their homes

to foreclosure.

“This is a crisis,” Hughes said. “Too many

families are losing their homes due to circum-

stances beyond their control. Without proven

programs, like HEMAP, I fear the cycle will

continue.”

Earlier this week, the Senator joined with his

Senate Democratic colleagues to call on

Pennsylvania Attorney General Linda Kelly

to use funds from a $25 billion settlement to

stave off foreclosures by reinstating HEMAP.

Pennsylvania is set to receive a significant

amount of funding from a national settlement

with the nation’s five-largest mortgage ser-

vicers as a result of an investigation of mort-

gage and foreclosure abuses by state

attorneys general and bank regulators. Under

the agreement, Pennsylvania will receive

$266 million with a direct payment of $69

million to the Attorney General’s office.

Over the years, the Homeowners Emergency

Mortgage Assistance Program has assisted

over 46,000 families throughout Pennsylva-

nia; 85% of the homeowners who have re-

ceived HEMAP loans remained in their

homes long-term.

“This proven track record of success shows

that Pennsylvania would be much worse off if

HEMAP had never existed,” Hughes said.

“We must reinvest in this valuable program

and keep families in their homes and commu-

nities intact.”

HEMAP was forced to close on Jul. 1, 2011

after its funding was cut. Before its closure,

HEMAP received annual funding of between

$10 and $11 million for many years. HEMAP

was not funded in Gov. Tom Corbett’s 2012-

13 budget proposal.

“With his budget proposal, Gov. Corbett has

done a great disservice to Pennsylvania’s

lower- and middle-income families. He is not

planning to fund the mortgage-assistance pro-

gram and is proposing cuts to other critical

programs and services these individuals have

come to depend upon, especially in times of

economic distress,” Hughes said. “These

families cannot tolerate more cuts. We must

make them our priority.”

“Without HEMAP, more empty houses will

join an already-depressed housing market,”

Hughes said. “There is a clear need for assis-

tance. We need to use these settlement dollars

for what they are intended – to help home-

owners keep their homes and stabilize com-

munities.

“It is imperative this critical program be rein-

stated using these funds. I plan to continue

working with my Senate Democratic col-

leagues to push for the reinstatement of

HEMAP using these settlement dollars, as

well as a permanent, long-term funding

stream for this valuable program.”



Comcast Signs DealsWith 4 Minority NetsComcast Corp., one of the world’s

leading media, entertainment and

communications companies, today

announced it has selected four new

minority-owned independent net-

works to be broadly distributed on

Comcast Cable systems between

April 2012 and January 2014.

After a thorough evaluation of

more than 100 proposals, Comcast

selected four networks ― two of

which are majority African-Ameri-

can owned and two that are major-

ity American Hispanic owned and

operated and programmed in Eng-

lish.

“We are thrilled to work with such

talented individuals to launch these

new networks that will bring excit-

ing and fresh content to con-

sumers,” said David L. Cohen,

executive VP, Comcast Corp.

“Comcast is committed to deliver-

ing programming that reflects the

interests of our customers, and we

look forward to integrating these

great networks into our rich pro-

gramming line-up.”

In the African American category

are Aspire and REVOLT.

Spearheaded by Entrepreneur and

NBA Hall of Famer Earvin

“Magic” Johnson, in partner-

ship with GMC TV, Aspire is

dedicated to delivering enlight-

ening, entertaining and positive

programming to African-

Americans families, including

movies, documentaries, short

films, music, comedy, visual

and performing arts, and faith

and inspirational programs. As-

pire will celebrate the suc-

cesses, achievements and

accomplishments of the

African American community

and create new opportunities

for the next generation of

African American visionaries.

The network will launch by

summer 2012.

Proposed by superstar and entre-

preneur Sean “Diddy” Combs

and MTV veteran Andy

Schuon, REVOLT is designed

to have programming inspired

by music and pop culture, in-

cluding music videos, live per-

formances, music news, and

interviews and will incorporate

social media interaction for

music artists and fans. The net-

work has entered into an agree-

ment to launch in 2013.

In the Hispanic category are El

Rey and BabyFirst Americas.

Proposed by legendary Hollywood

director Robert Rodriguez and

FactoryMade Ventures execu-

tives John Fogelman and

Cristina Patwa, El Rey will be

an action-packed, general en-

tertainment network in English

for Latino and general audi-

ences that includes a mix of re-

ality, scripted and animated

series, movies, documentaries,

news, music, comedy, and

sports programming. The El

Rey network will include pro-

gramming that features His-

panic producers, celebrities

and public figures. The net-


ment to launch by January

2014.

BabyFirst Americas is designed

for infants, very young chil-

dren, and their parents, and

emphasizes the importance of

early development of verbal,

math and motor skills. The net-


ment to launch by April 2012.

“We are thrilled to partner with

Comcast and commend them

for recognizing the importance

of quality education for young

children,” remarked Constan-

tino “Said” Schwarz, CEO and

Chairman BabyFirst Americas.

Comcast made a series of volun-

tary public-interest commitments

in connection with the NBCUni-

versal transaction, one of which is

to launch 10 new independently

owned and operated networks over

the next eight years. Of the 10 net-

works, four will be majority



African American owned, two will

be majority American Latino

owned, two will be operated by

American Latino programmers,

and two will provide additional in-

dependent programming. Ulti-

mately, each of the 10 networks

will be added on select Comcast

systems as part of the digital basic

tier of service.

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