Nep•o•tism
Noun: the practice among those with power or influence of favouring relatives or friends, especially by giving them jobs.
The People’s United Party were swept into office on a promise that they would put an end to corruption and nepotism. Throughout the entire just under 13 years that the United Democratic Party was in office, the PUP accused the UDP of corruption and nepotism. The pointed to the fact that a few family members of UDP officials were either employed by the government of were appointed to boards or governmental entities. Never one day did they ever question the professionalism or other qualifications of such persons. Now that the PUP is in the driver’s seat, one would have thought that the PUP would be leading by example and would have made such appointments and hires from among the professionals and suitably qualified persons. Not so! With the PUP, nepotism and cronyism is all that has been happening with almost all the hirings and or appointments
Silverstein, Cantor Fitzgerald Buy Massive Life Sciences Development In Philly
Two powerhouses of New York real estate have bought into Philadelphia’s booming life sciences market in a big way.
A joint venture of Silverstein Properties and Cantor Fitzgerald has purchased a majority ownership stake in 3.0 University Place, the forthcoming lab and office hub that was being developed by University Place Associates. Silverstein and UPA will be equal partners in developing the property, UPA said in a press release on Wednesday. Courtesy of University Place Associates A rendering of 3.0 University Place, a life sciences development in University City, Philadelphia.
The Silverstein/Cantor Fitzgerald JV paid $56M for 90% ownership of 3.0 University Place. University Place Associates, which will retain the final 10% piece of ownership, marketed the equity investment opportunity through JLL Capital Markets Managing Director Brett Segal.