Latest Pennsylvania business


Democrats say Wolf's budget proposal will be ambitious

HARRISBURG, Pa. (AP) — More details of Governor Tom Wolf's impending budget proposal are emerging.

Top Democratic lawmakers say they expect Wolf's proposal to be ambitious. Democratic Senators Jay Costa and Vincent Hughes say the governor's proposal must be considered as a whole, rather than as pieces.

Wolf hasn't released many details, but Democrats expect he will seek to balance a big deficit along with increases in education funding and significant cuts in school property taxes.

They also expect Wolf to seek to expand subsidies for rent or property taxes for the elderly and disabled, reimburse school districts for charter school costs, and demand accountability from school districts that receive money for property tax cuts.

Wolf has already said that he would seek corporate tax cuts and higher taxes on natural gas drilling.


Official: Wolf budget includes big increase for Penn State

HARRISBURG, Pa. (AP) — Penn State is in line for a substantial increase in funding under Governor Tom Wolf's budget plan.

An administration official with knowledge of the governor's first budget tells The Associated Press that Wolf will propose a $49.6 million increase for Penn State.

That's about 23 percent more than the $214 million Penn State is getting from the state this year. The official spoke on condition of anonymity because the administration did not want spending proposals discussed publicly until today's budget address.

The increase would be the first substantial boost for the university since it took a hit of more than $60 million four years ago in then-Governor Tom Corbett's first budget.

The Centre Daily Times first reported the planned increase.


Philadelphia Fed selects U of Delaware president as new CEO

PHILADELPHIA (AP) — The president of Delaware's largest university is stepping down to take the helm at the Federal Reserve Bank of Philadelphia.

University of Delaware President Patrick Harker tells students and faculty in a letter yesterday that he plans to resign this summer and become the president and CEO of the Philadelphia Fed.

Harker has been Delaware's president for the past eight years.

Harker previously served as the dean of the Wharton School of the University of Pennsylvania.

Harker says he has mixed emotions about the move. He calls it an "honor and privilege" to have been president.

Harker replaces Charles Plosser, who retired on Sunday. He takes over at the Philadelphia Fed on July 1st.


Parent company of Mohegan Sun casinos appoints new president

UNCASVILLE, Conn. (AP) — The parent company of the Mohegan Sun casinos in Connecticut and Pennsylvania has elevated a key official to president.

The Mohegan Tribal Gaming Authority announced yesterday that Robert Soper, president and CEO of the Connecticut casino, will succeed Mitchell Grossinger Etess, effective March 30th.

Ray Pineault has been appointed president and general manager of the Mohegan Sun in Uncasville, Connecticut, and Thomas Burke was appointed to the new post of chief operating officer of the authority. He's acting president of Mohegan Gaming Advisors, the authority's management consultant firm.

Etess, who joined Mohegan Sun about 20 years ago as senior vice president of marketing, announced in November his retirement as chief executive officer.

He says Soper's experience as general manager of the Connecticut and Pennsylvania sites made him the natural choice for president.


Regional southwestern Pennsylvania bank now called cfsbank

CHARLEROI, Pa. (AP) — A regional southwestern Pennsylvania bank has changed its name from Charleroi Federal Savings Bank to cfsbank.

The (Washington) Observer-Reporter reports the name change took effect yesterday.

President and Chief Executive Officer Neil Bassi says the name change better reflects the bank's growing regional presence.

Founded 79 years ago in Charleroi (SHAHR'-luh-roy), Washington County, the bank now has eight other branches, with others in Butler, Fayette and Westmoreland counties.

The bank has about $500 million in assets.


Comcast to sponsor Carl Edwards in 4 races this season

PHILADELPHIA (AP) — Comcast will sponsor Carl Edwards in four races this season, beginning this weekend at Las Vegas Motor Speedway.

Comcast Business will be the primary paint scheme on the Number 19 Toyota. It marks the first major NASCAR sponsorship for Comcast's business services unit that provides data, Internet, TV and phone services.

Edwards will also have the Comcast Business scheme at Bristol Motor Speedway next month, New Hampshire in September and Martinsville in November.

Comcast this year joined NASCAR as entitlement sponsor of the second-tier series, now known as the Xfinity Series. Comcast is also NASCAR's official entertainment provider.