No Price Tag For Weekend Festivites

It's hard to argue with Mayor Michael Nutter's assertion that this weekend's big music festival featuring Jay-Z and Pearl Jam will raise Philadelphia's profile. These are big names that will draw a massive audience and create a buzz across the Twittersphere and blogosphere.

And, sure, he is probably correct when he says "We believe that we have the capacity, the infrastructure and the knowledge to be able to do this, and do it well."

However, there are a lot of vague references (the concert will provide "short-, medium- and long-term benefits.") but not a lot of details. When it comes to the expense to the city, we're told that officials have a general idea and that festival organizers will bear part of the burden. Real numbers won't be available until later in September.

Why aren't more specifics available and why isn't Mr. Nutter being held accountable for providing those details? This could be a great plus for Philadelphia, but it could end up being a big financial loss, too.

Our Aug. 30 Edition Is Out

After the rush of getting our first print edition out last week, I was worried about an emotional let down for this week's edition.

There was no such letdown and this week's edition looks really strong.

There are two exceptional pieces to dig into, the second half of our "Visions Of A World-class Philadelphia" series and a look at Penn State attempting to rehab its image. Both feature great insight.

Useful column for C-level executives by social media strategist Dave McGurgan, a glimpse at one of the most innovative charities in the region and an inside look at a condo with a view of Washington Square. We also look at the governor's slipping poll numbers, Philadelphia's shrinking middle class and some significant business deals. All in a week's work.

Hope you enjoy!

A Step Toward Better Schools, Private Schools ... or Both?

The Philadelphia Schools Partnership Thursday announced that it has raised almost $52 million, putting the two-year-old nonprofit more than halfway to its goal of $100 million.

Mayor Michael Nutter applauded the milestone and the foundation's website includes this:

“The Maguire Foundation has been supporting education reform in a number of ways over the years, but broad-scale improvement in the city has been elusive,” said James J. Maguire, founder of Philadelphia Insurance Cos. and The Maguire Foundation, and a board member of PSP. “We have elected to make this big investment in the Great Schools Fund because we see a real opportunity, through collective action, to achieve citywide improvement.”

Of course, not everyone is cheering.

Over at The City Paper they've connected a bunch of dots and come to this conclusion: "What readers might not glean from press reports is that PSP is an integral part of a broad and well-funded campaign to privatize public education in Philadelphia."

Check out their site for the details.

Our First Print Edition Is Available

Until today, Region's Business has existed only as a Web presence, and a modest one at that. That's changed.

The first edition of our weekly news magazine we'll be in subscribers' hands and in select single-copy outlets today. To say we're excited would be a massive understatement.

The headline for our cover story says it all: Visions Of A World-Class Philadelphia. We wanted to assess the region's viability as a world-class spot. Writer Elissa Vallano interviewed a slew of key people - Ed Rendell, police commissioner Ramsey, Meryl Levitz, SEPTA's Joe Casey and more - for the first of two parts and the mood was uniform. Across the board, these leaders recognize the significant challenges (crime, struggling schools, labor issues), but believe the Philadelphia region is well-situated to ascend to the nation's elite.

There's more - lots more, too. We have a great look at the economic impact of the 2013 U.S. Open coming to the Merion Golf Club. The numbers are staggering, especially the amount of rent houses along the course will be able to demand the week of the tournament.

LinkedIn expert Donna Serdula shows executives how to ignoring that platform could hurt their image and their brand.

In politics, we dive into the stories of Montgomery County rising star Mike Gerber suddenly and quietly leaving Harrisburg at an inopportune time and the latest chapter in the sad, sad story of Bill DeWeese, whose bid to run for re-election while in prison is over.

There's more, lots more, in our first edition. Want a complimentary copy? Just drop an e-mail and we'll send one out. And stay tuned for next week's edition, which will include the second half of our "Visions Of A World-Class Philadelphia" and, if the early drafts are any indication, a wealth of other must-read material.

Why Can't the National Constitution Center Keep a CEO?

The Philadelphia Business Journal reported that National Constitution Center CEO David Eisner is resigning after three years on the job. That's news, of course, but here's the line that really sticks out (emphasis mine):

Eisner is the center’s third CEO since it opened at a cost of $137 million in July 2003...

Wouldn't one think that if you're passion lies in running an exhibit or museum focusing on history that being CEO of the National Constitution Center would be a destination position, not a transition position? Shouldn't we expect to attract a high profile star to this spot and, likewise, expect them to make this a place to make their name?

Bottom line is, that's a lot of turnover.

Compared to Chicago, Philly Looking Calm

Philadelphia is on track to register the most homicides since the 262 in a bloody 2007, including Saturday's tragic shooting death of an off-duty city police officer. Stories of other violent crimes seem to lead evening newscasts on a regular basis.

Look west, though, for a little perspective. Over the weekend in Chicago - that's just over the weekend as in Friday night to Sunday - six people were killed and 19 were wounded in shootings in the city.

A lot of cities, including Philadelphia, are seeing population growth for the first time in decades. Violence like this, however, can only serve to stem the tide. When looking for solutions, the typical responses involve gun control or more spending on police resources, but are either a real option in today's political climate?

Mixed Messages on Entrepreneurs & VC

Two stories, two messages yesterday. Still trying to find where they intersect.

On one hand, we have a piece from the Philadelphia Business Journal where Peter Key writes about a shakeup at Novotorium, a Bucks County business incubator.

The story states that Novotorium co-founder and general manager Mike Krupit will move on and the operation "will concentrate on developing companies in the wellness and healthy-lifestyle space, as well as companies that complement those types of businesses."

Big deal? Probably not, but there's a trouble quote from Krupit. Read the story to see the whole thing (it's worth the click), but the first line sets it up: "“The Philadelphia region is a pretty challenging startup environment."

Challenging is not the adjective we want attached to the Philadelphia startup community.

But take heart, someone seems to think that Krupit may not have an accurate picture. Because over at Philly.com, Joseph N. DiStefano posted a piece announcing a venture capital firm is moving from the suburbs into the city.

We're not talking nickels and dimes, either. The piece points out that First Round Capital is "the third-busiest venture-capital firm in the United States." And it's moving from the Main Line to 4040 Locust St., according to the article.

So is the glass half-empty or half-full? Seems like the latter, but only time will tell.