PHILADELPHIA – A report from the Fels Institute of Government at the University of Pennsylvania details the ways reclamation and redevelopment of vacant property have improved residents’ quality of life in eastern North Philadelphia. The report, “Neighborhood Stabilization and Safety in East North Philadelphia,” highlights how comprehensive strategic investment by local community developers and public agencies correlates with improvements in safety, rising incomes and an attraction of new working households.
David Skeel of the Law School comments on state bankruptcy.
Susan Wachter of the Wharton School comments on the effects of lender renegotiations in commercial real estate.
Vitek Tracz is a risk-taker. He put his money into open-access publishing when free Internet journals seemed like a long shot. "Everybody promised me that open access would not succeed," recalls the scientific publisher. "They said I would go bankrupt. I thought there was a very high chance of that, myself. But it now turns out to be significantly profitable." Two years ago he sold his BioMed Central publications—there are now about 200 of them—to Berlin-based Springer for an undisclosed sum, thought to be in the region of $50-million.