Joseph N DiStefano
@phillyjoed.bsky.social
JoeD@Inquirer.com
I write about money and people
mostly for the Philadelphia Inquirer
https://www.inquirer.com/author/distefano_joseph_n/
+OFS
I write about money and people
mostly for the Philadelphia Inquirer
https://www.inquirer.com/author/distefano_joseph_n/
+OFS
How did Louisiana native Mike Lloyd, a Saints fan, end up owning + running IMC, one of the mid-Atlantic's biggest general construction contractors? He had Ivy League, Big Law, Wall Street cred. Also, he married the boss's daughter. My story: www.inquirer.com/business/imc...
This Harvard-trained, ex-Uber lawyer is the boss at one of Philly’s biggest builders
Mike Lloyd is building apartments and labs, but he's still "bullish on offices."
www.inquirer.com
February 12, 2026 at 12:59 PM
How did Louisiana native Mike Lloyd, a Saints fan, end up owning + running IMC, one of the mid-Atlantic's biggest general construction contractors? He had Ivy League, Big Law, Wall Street cred. Also, he married the boss's daughter. My story: www.inquirer.com/business/imc...
Metal politics: Pa. plant world's largest preps tungsten for missiles, aircraft, smartphones. Cheap China mines controlled supply. USA limits pushed price to record. So plant's Euro owner, w USA aid, now buys from reopened mines in Korea, Rwanda. My story: www.inquirer.com/business/glo...
Pa. plant that helps make smartphones and bullets finds new suppliers in China trade war
Global Tungsten & Powders is looking to Korea and Rwanda to provide tungsten, a metal that's also essential to helicopters and medical devices.
www.inquirer.com
February 12, 2026 at 12:38 PM
Metal politics: Pa. plant world's largest preps tungsten for missiles, aircraft, smartphones. Cheap China mines controlled supply. USA limits pushed price to record. So plant's Euro owner, w USA aid, now buys from reopened mines in Korea, Rwanda. My story: www.inquirer.com/business/glo...
Big Water: AmWater #$AWK takeover of Essential / Aqua #$WTRG for-profit water, sewer, gas utilities wins big shareholder vote, tho a few balk at millions for departing CEO. Will state PUCs approve, too? My latest: www.inquirer.com/business/ame...
Shareholders approve merger of American Water and Essential Utilities, which serve Pa. and N.J.
American Water's combination with smaller Essential Utilities will create the first private water and sewer utility that's roughly as big as a major power company.
www.inquirer.com
February 11, 2026 at 9:00 PM
Big Water: AmWater #$AWK takeover of Essential / Aqua #$WTRG for-profit water, sewer, gas utilities wins big shareholder vote, tho a few balk at millions for departing CEO. Will state PUCs approve, too? My latest: www.inquirer.com/business/ame...
Delivery service Gopuff tracks SuperBowl XL snacks: Ferrero's Nerds Gummy Clusters and KinderBueno ads quadrupled traffic; but limes🇲🇽beat everything - with zero ads. My latest: www.inquirer.com/business/gop...
For Gopuff, Super Monday is the national holiday
Limes and Italy's Ferrero chocolates were big winners from this year's NFL home fan spending.
www.inquirer.com
February 10, 2026 at 1:29 PM
Delivery service Gopuff tracks SuperBowl XL snacks: Ferrero's Nerds Gummy Clusters and KinderBueno ads quadrupled traffic; but limes🇲🇽beat everything - with zero ads. My latest: www.inquirer.com/business/gop...
At @Vanguard_Group , an outsourcing reversal; and, some bosses are H-1b immigrants. My latest: www.inquirer.com/business/van...
These outsourced Vanguard workers are getting their jobs back
Hundreds of Infosys workers are returning to Malvern-based Vanguard Group, which sent them to the contractor in 2020.
www.inquirer.com
February 10, 2026 at 1:20 PM
At @Vanguard_Group , an outsourcing reversal; and, some bosses are H-1b immigrants. My latest: www.inquirer.com/business/van...
He's not a banker or a software engineer. How did Mike Petrakis use hotel capital, credit unions and bank deals to turn PowerPay into a $5 billion, 225-worker, PA-based fintech lender? www.inquirer.com/business/pow...
Philly native Mike Petrakis built PowerPay, a fintech company for people who think banks are too slow
This loan salesman began by funding home improvement companies and wants to sell more insurance.
www.inquirer.com
February 9, 2026 at 1:54 PM
He's not a banker or a software engineer. How did Mike Petrakis use hotel capital, credit unions and bank deals to turn PowerPay into a $5 billion, 225-worker, PA-based fintech lender? www.inquirer.com/business/pow...
Reposted by Joseph N DiStefano
Exhibit of this ecosystem: Many local news pieces on ICE detention centers are referencing stories broken by the Post and Bloomberg.
One more comment on the Post debacle: this hurts journalism broadly. Good journalists will go do something else. The rest will be fighting for fewer jobs and everyone will earn less. Fewer people will take up the career. The damage done is to the ecosystem, as well as the paper.
February 5, 2026 at 12:49 PM
Exhibit of this ecosystem: Many local news pieces on ICE detention centers are referencing stories broken by the Post and Bloomberg.
Reposted by Joseph N DiStefano
Reminder that the Parker admin chose to allow this tax hike for small businesses rather than trying to defend against a lawsuit challenging the BIRT exemption. But the people most to blame for rising taxes for Philly small businesses are the PA Republicans who refuse to change the uniformity clause.
How Philly small businesses are coping with a 'tax cut' that is forcing tens of thousands to pay the city's unusual revenue and income taxes for the first time www.inquirer.com/business/bir...
Philly small businesses face a big tax headache as an exemption ends
Even with extensive city guidance, “it becomes a logistical nightmare” for small taxpayers, who may have to hire professionals to figure out what they owe and exemptions that can reduce the total.
www.inquirer.com
February 2, 2026 at 1:46 PM
Reminder that the Parker admin chose to allow this tax hike for small businesses rather than trying to defend against a lawsuit challenging the BIRT exemption. But the people most to blame for rising taxes for Philly small businesses are the PA Republicans who refuse to change the uniformity clause.
Problem: Surge in data center construction is driving up electric power costs, writes
Inquirer's Frank Kummer
inquirer.com/business/tec...
Gov Shapiro: We'll speed up PA data center approvals - if you add your own power plants, per Erin McCarthy www.inquirer.com/politics/pen...
From inquirer.com
Inquirer's Frank Kummer
inquirer.com/business/tec...
Gov Shapiro: We'll speed up PA data center approvals - if you add your own power plants, per Erin McCarthy www.inquirer.com/politics/pen...
From inquirer.com
Gov. Josh Shapiro says he’ll prevent data center developers from ‘saddling’ Pennsylvanians with higher energy costs
Pennsylvania and New Jersey lawmakers have other ideas on how to keep residents from subsidizing power-hungry data centers, proposed across the region from East Vincent Township to Vineland.
www.inquirer.com
February 4, 2026 at 12:38 PM
Problem: Surge in data center construction is driving up electric power costs, writes
Inquirer's Frank Kummer
inquirer.com/business/tec...
Gov Shapiro: We'll speed up PA data center approvals - if you add your own power plants, per Erin McCarthy www.inquirer.com/politics/pen...
From inquirer.com
Inquirer's Frank Kummer
inquirer.com/business/tec...
Gov Shapiro: We'll speed up PA data center approvals - if you add your own power plants, per Erin McCarthy www.inquirer.com/politics/pen...
From inquirer.com
Reposted by Joseph N DiStefano
I started my 2025 filing today and, yeah, this BIRT change is a HUGE local tax hike on Schedule Cs in Philly.
I owe double what I paid last year, after making less money. Plus, it ends up being even more than that substantively because you have to pre-pay all of 2026.
I owe double what I paid last year, after making less money. Plus, it ends up being even more than that substantively because you have to pre-pay all of 2026.
How Philly small businesses are coping with a 'tax cut' that is forcing tens of thousands to pay the city's unusual revenue and income taxes for the first time www.inquirer.com/business/bir...
Philly small businesses face a big tax headache as an exemption ends
Even with extensive city guidance, “it becomes a logistical nightmare” for small taxpayers, who may have to hire professionals to figure out what they owe and exemptions that can reduce the total.
www.inquirer.com
January 29, 2026 at 11:27 PM
I started my 2025 filing today and, yeah, this BIRT change is a HUGE local tax hike on Schedule Cs in Philly.
I owe double what I paid last year, after making less money. Plus, it ends up being even more than that substantively because you have to pre-pay all of 2026.
I owe double what I paid last year, after making less money. Plus, it ends up being even more than that substantively because you have to pre-pay all of 2026.
Reposted by Joseph N DiStefano
'Destabilizing and difficult': How a Pa. helicopter factory is coping with shifting payments from the U.S. military. My story: www.inquirer.com/business/leo...
How Philly helicopter makers cope with uncertainty at today’s Pentagon
"Incredibly destabilizing" changes in payments keep the manufacturer on edge, while managers scramble to prevent worker layoffs.
www.inquirer.com
January 28, 2026 at 1:32 PM
'Destabilizing and difficult': How a Pa. helicopter factory is coping with shifting payments from the U.S. military. My story: www.inquirer.com/business/leo...
'Destabilizing and difficult': How a Pa. helicopter factory is coping with shifting payments from the U.S. military. My story: www.inquirer.com/business/leo...
How Philly helicopter makers cope with uncertainty at today’s Pentagon
"Incredibly destabilizing" changes in payments keep the manufacturer on edge, while managers scramble to prevent worker layoffs.
www.inquirer.com
January 28, 2026 at 1:32 PM
'Destabilizing and difficult': How a Pa. helicopter factory is coping with shifting payments from the U.S. military. My story: www.inquirer.com/business/leo...
As Daedalus, founded by ex-Trump officials who transport immigration deportees, seeks lease at Wilmington DE airport @FlyILG, activists push NJ and DE governors to say No; DRBA authority fears losing U.S. funding, writes Brianna Hill @Spotlight302: spotlightdelaware.org/2026/01/27/w...
Wilmington Airport authority to consider lease with new company linked to ICE
The government authority that oversees the Wilmington Airport may lease space at the Delaware facility to a little-known company, called Daedalus Aviation Corp., that reportedly struck a contract rece...
spotlightdelaware.org
January 27, 2026 at 3:06 PM
As Daedalus, founded by ex-Trump officials who transport immigration deportees, seeks lease at Wilmington DE airport @FlyILG, activists push NJ and DE governors to say No; DRBA authority fears losing U.S. funding, writes Brianna Hill @Spotlight302: spotlightdelaware.org/2026/01/27/w...
Analyst: This planned private water/sewer merger is good for buyer @AWK - but target @WTRG shareholders should vote NO on Feb. 10. Deal would end a 100+ year rivalry between two Phila area companies. My story: www.inquirer.com/business/ame...
Why this big water-and-sewer merger doesn’t impress investors, so far
American Water and Aqua have had a tough time privatizing water and sewer systems. Now they plan to merge. The vote is Feb. 10.
www.inquirer.com
January 27, 2026 at 12:32 PM
Analyst: This planned private water/sewer merger is good for buyer @AWK - but target @WTRG shareholders should vote NO on Feb. 10. Deal would end a 100+ year rivalry between two Phila area companies. My story: www.inquirer.com/business/ame...
Record business profits, workers cutting costs: an update on middle America, q&a w/ @CitizensBank ceo Bruce Van Saun www.inquirer.com/business/cit...
Citizens Bank CEO talks about record business profits, data centers, and Phillies’ prospects
Citizens Bank has boosted profits by targeting more-affluent Americans and their businesses, while shutting some branches.
www.inquirer.com
January 26, 2026 at 2:44 PM
Record business profits, workers cutting costs: an update on middle America, q&a w/ @CitizensBank ceo Bruce Van Saun www.inquirer.com/business/cit...
Fallcatcher: Fugitive recovery fraudster Henry Ford, who spent 5 years on the run in Asia, Africa, Latin America, sentenced for fooling Pa. investors, SEC. My story: www.inquirer.com/business/hen...
Fallcatcher scammer has been sentenced to 5+ years
Henry Ford, also known as Cleothus “Lefty” Jackson, fooled 60 investors into paying $5 million for an anti-addiction system called Fallcatcher that he didn't build.
www.inquirer.com
January 23, 2026 at 5:30 PM
Fallcatcher: Fugitive recovery fraudster Henry Ford, who spent 5 years on the run in Asia, Africa, Latin America, sentenced for fooling Pa. investors, SEC. My story: www.inquirer.com/business/hen...
'Everyone has shifted to private credit,' which just makes stuff up. For example: www.inquirer.com/business/pri...
What’s a billion-dollar loan really worth? For private credit funds, it depends on who’s counting
Private credit funds lend to businesses but aren’t bound by rules that govern banks. They've raised trillions, but valuations are opaque.
www.inquirer.com
January 21, 2026 at 12:58 PM
'Everyone has shifted to private credit,' which just makes stuff up. For example: www.inquirer.com/business/pri...
Reposted by Joseph N DiStefano
Probably one of the worst decisions made by this administration to date. And a huge chunk of the revenue will just go to enforce the BIRT onto microscopically small businesses. If you're not going to even try to fight uniformity clause then you don't care about the economic future of the city
January 20, 2026 at 2:28 PM
Probably one of the worst decisions made by this administration to date. And a huge chunk of the revenue will just go to enforce the BIRT onto microscopically small businesses. If you're not going to even try to fight uniformity clause then you don't care about the economic future of the city
Will smartphones split the Amish? For both sides, 'I am the bad boy,' says a Plain computer network maker. My story: www.inquirer.com/business/all...
This Plain businessman started a computer service for the Amish. Does it do too much, or not enough?
For 21 years, Allen Hoover has offered text-based business technology out of Lancaster County for Plain believers. "It has not made me a popular person."
www.inquirer.com
January 20, 2026 at 12:15 PM
Will smartphones split the Amish? For both sides, 'I am the bad boy,' says a Plain computer network maker. My story: www.inquirer.com/business/all...
How Philly small businesses are coping with a 'tax cut' that is forcing tens of thousands to pay the city's unusual revenue and income taxes for the first time www.inquirer.com/business/bir...
Philly small businesses face a big tax headache as an exemption ends
Even with extensive city guidance, “it becomes a logistical nightmare” for small taxpayers, who may have to hire professionals to figure out what they owe and exemptions that can reduce the total.
www.inquirer.com
January 20, 2026 at 12:13 PM
How Philly small businesses are coping with a 'tax cut' that is forcing tens of thousands to pay the city's unusual revenue and income taxes for the first time www.inquirer.com/business/bir...
U.S. funds will train @PhillyShipyard workers. My story: www.inquirer.com/business/shi...
This $8M federal college grant will train Hanwha shipyard workers
The program will quadruple its apprenticeship training programs from around 120 workers a year to around 500. Apprentices could earn around $30 a hour.
www.inquirer.com
January 20, 2026 at 12:13 PM
U.S. funds will train @PhillyShipyard workers. My story: www.inquirer.com/business/shi...
Reposted by Joseph N DiStefano
The Trump administration laid out a plan intended to compel tech companies to effectively fund the construction of new power plants as a way to tame surging consumer utility bills while aiding the development of data centers
Trump Pushes for Emergency Power Auction to Fuel AI Boom
The Trump administration and several states laid out a plan intended to compel technology companies to effectively fund the construction of new power plants as a way to tame surging consumer utility bills while aiding the development of data centers.
bloom.bg
January 16, 2026 at 9:30 PM
The Trump administration laid out a plan intended to compel tech companies to effectively fund the construction of new power plants as a way to tame surging consumer utility bills while aiding the development of data centers
Governors and Trump agree: time to force PJM power network to make new data plants, not current consumers, pay for new power
President Trump and US Northeast governors will direct the nation’s largest grid operator to hold an emergency power auction putting technology giants on the hook to pay for the construction of a fleet of new plants
Trump to Direct Key US Grid Operator to Hold Emergency Auction
President Donald Trump and US Northeast governors will direct the nation’s largest grid operator to hold an emergency power auction that would force technology giants to pay for the construction of a fleet of new plants.
bloom.bg
January 16, 2026 at 4:37 AM
Governors and Trump agree: time to force PJM power network to make new data plants, not current consumers, pay for new power
Despite @elonmusk's "Dexit" campaign, "Delaware experienced a sharp increase in corporate incorporations in 2025, both absolutely and relative to other states," reports @harvardcorpgov H/t Lauren Pringle corpgov.law.harvard.edu/2026/01/15/a.... See also www.inquirer.com/business/elo...
An Update on DExit, from the Corporate Census
An update on DExit, from the Corporate Census Despite fears that Delaware’s recent judicial and legislative turmoil would trigger a corporate ...
corpgov.law.harvard.edu
January 15, 2026 at 3:46 PM
Despite @elonmusk's "Dexit" campaign, "Delaware experienced a sharp increase in corporate incorporations in 2025, both absolutely and relative to other states," reports @harvardcorpgov H/t Lauren Pringle corpgov.law.harvard.edu/2026/01/15/a.... See also www.inquirer.com/business/elo...