PhillyDeals: In Pa., the roadway ruckus rambles on
The struggle for control of Pennsylvania's key highways, pitting the patronage-rich Pennsylvania Turnpike Commission against the well-funded partnership of Citigroup Inc. and Abertis Infraestructuras S.A., isn't getting any more polite as summer wears on.

The struggle for control of Pennsylvania's key highways, pitting the patronage-rich Pennsylvania Turnpike Commission against the well-funded partnership of
Citigroup Inc.
and
Abertis Infraestructuras S.A.
, isn't getting any more polite as summer wears on.
Here's a recap:
Pennsylvania roads and bridges are falling apart. They're expensive to fix.
Last year, Gov. Rendell tried to put tolls on Interstate 80 way upstate, so trucks running from Chicago to New York could pay to fix our roads.
But people upstate who use I-80 objected.
So Rendell went to Plan B - lease the turnpike to Citigroup and Abertis, and use the rent to fix the roads.
And the turnpike commission objected, since that would leave it without much to do.
Last week, the turnpike commission sent the federal government an updated request for permission to charge tolls on I-80, which would make the rent-a-turnpike plan unnecessary.
If that happens, the commission would get a vast increase in its domain, instead of going away.
Democratic congressmen from Philadelphia to Johnstown support the commission's plan to take over and toll I-80.
In a letter, the congressmen warned the Bush administration not to stand in the way: "Pennsylvania's state leaders should be the primary decision-makers regarding this plan," and "the federal government should not second-guess their decisions."
The congressmen represent districts that are mostly far from I-80. Some of them also represent Delaware River port operators, who would benefit if I-80 is tolled, since that might make Philadelphia more attractive for shippers.
After two extensions, Abertis-Citi has until September to get its lease through the General Assembly and defeat the turnpike commission.
The rhetoric is getting blunt. "There is no need to toll I-80," Abertis-Citigroup said in a statement yesterday. The commission "is addicted to deception," said their adviser, Jim Courtovich. "Pennsylvanians should be suspicious of their promises."
Pa. raids N.J., Del.
State-backed
Ben Franklin Technology Partners
of Southeastern Pennsylvania doles out six-figure investments to a scattering of small Pennsylvania companies every few months in hopes they'll grow.
Sometimes the companies are actually based here. Sometimes they have to be imported.
Spokesman Jaron Rhodes said yesterday that the partnership had lured medical-data-to- mobile-phone transmitter mVisum Inc. from Cedar Brook, N.J., and e-mail-security vendor Nayatek from Newark, Del., to Pennsylvania, in exchange for $250,000 investments.
No word from mVisum head Praveen Dala or Nayatek founder Marc Olson on how many jobs that could someday bring to their Pennsylvania offices - once they've opened.
Holding Boscov's hand
Accountant
Michael J. Hughes
walked
Boscov's Department Store L.L.C.
through its last frantic months of money-raising, and he ended up putting the company's recent struggles, future needs and tentative plans in writing in its Chapter 11 bankruptcy filing in Wilmington on Monday as the family-run chain's executive vice president for capital development.
Hughes joined Boscov's in April from Griffin Financial L.L.C., where he'd been chief operating officer. He previously worked for the Berwind family's industrial investments group, and at Sam McCullough's former Meridian Bancorp.
Griffin is the investment bank that's joined at the hip to Reading law firm Stevens & Lee P.C. Both have a history with Reading-based Boscov's.
Now Hughes will help the firm and its creditors put together the reorganization plan that's supposed to be ready by October.
Things are tough all over
It's not just the poor, the unemployed, chronic late-payers and recession-challenged industries that are having a tough time borrowing money in the current climate.
Morgan Stanley, the big Wall Street investment bank and brokerage, has told some of its wealthy clients they cannot borrow any more against their houses, because home values have dropped and the company won't take the risk, Bloomberg News reported yesterday.
























