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Liberty Bell's closing boosts visits to city's lesser-known historic sites

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JAD SLEIMAN & VALERIE RUSS, Daily News Staff Writers sleimaj@phillynews.com, 215-854-5938 Posted: Thursday, October 10, 2013, 12:16 AM

ANNE McLaughlin, director of tourism at Old City's Christ Church, spent years handing out Beyond the Liberty Bell pamphlets to encourage visitors to see Philly's less-famous historic sites.

Thanks to the government shutdown, they no longer have a choice.

"We've had a lot of people coming up and thanking us for staying open, being very grateful," McLaughlin said between greeting German tourists.

Visitors from abroad, school groups and long-haul charters routinely plan trips to the city well in advance. Flights confirmed and time off reserved, they're still coming to Philly to glimpse American history, just not necessarily at 6th and Market.

"They're useless now," he said while visiting Elfreth's Alley, the nation's oldest residential street.

More than a dozen hours of air travel got him close enough to the bell to snap a pic from the street.

A Historic Philadelphia news release notes that Independence Mall typically sees about 10,000 visitors a day this time of year. Tourism officials don't have solid numbers, but many of the museums and landmarks surrounding the mall have noted a modest uptick in visitors as the shutdown enters Day 10.

The National Museum of American Jewish History, on Independence Mall, is effectively operating for tips to welcome those rejected at the Liberty Bell.

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Liberty Bell's closing boosts visits to city's lesser-known historic sites

Liberty Mutual Insurance Schedules Third Quarter 2013 Earnings Release

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BOSTON--(BUSINESS WIRE)--

Liberty Mutual Holding Company Inc., the parent corporation of the Liberty Mutual Insurance group of entities (the Company), is scheduled to release its third quarter 2013 financial results on October 30, 2013. The Company will not be hosting a conference call.

The earnings release, financial results and other supplemental information will be available on the website http://www.libertymutual.com/investors.

Going forward, the Company expects to host conference calls in conjunction with the quarterly earnings releases on a semi-annual basis. Calls will be scheduled for the second and fourth quarters. The earnings release, financial results and other supplemental information will continue to be published quarterly and will be available on the website. The next conference call to be held will be for the release of the 2013 fourth quarter results in early 2014.

The Company may, from time to time, make material information regarding the Company available to the public via the website http://www.libertymutual.com/investors (or any successor site). Any such information disseminated to the public via such website shall be deemed to have been furnished to the holders of any of the Companys outstanding securities.

For further information, please contact Alison Erbig, Vice President and Director, Investor Relations, at 6175746655 or email investor_relations@libertymutual.com.

About Liberty Mutual Insurance

"Helping people live safer, more secure lives" since 1912, Bostonbased Liberty Mutual Insurance is a diversified global insurer and the third largest property and casualty insurer in the U.S. based on 2012 direct premiums written as reported by the National Association of Insurance Commissioners.

Liberty Mutual Insurance also ranks 81st on the Fortune 100 list of largest corporations in the U.S. based on 2012 revenue. As of December 31, 2012, Liberty Mutual Insurance had $120.1 billion in consolidated assets, $101.5 billion in consolidated liabilities, and $36.9 billion in annual consolidated revenue.

Liberty Mutual Insurance offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, property, commercial automobile, general liability, global specialty, group disability, reinsurance and surety. Liberty Mutual Insurance (www.libertymutualinsurance.com) employs over 50,000 people in approximately 900 offices throughout the world.

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Liberty Mutual Insurance Schedules Third Quarter 2013 Earnings Release

Liberty Closes Cabot Fund Buyout

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Liberty Property Trust (LRY) sealed the buyout of the operating partnership of Cabot Industrial Value Fund III for around $1.475 billion. The acquisition enhanced the companys industrial portfolio with 23 million square feet and 177 properties in 24 new and existing Liberty Property markets.

Of the total Cabot Portfolio, roughly 58% of it is situated in 14 of Liberty Propertys existing industrial markets and the rest of the portfolio is positioned in 10 new markets, in which the company does not have a presence. As of May 31, the Cabot Portfolio was 93.3% leased to 436 tenants.

Liberty Property financed the deal with proceeds of $834.1 million reaped through common equity offering of 24.15 million shares, $450 million senior notes offering and $230 million in mortgage debt assumption.

This high-end acquisition is expected to significantly boost Liberty Propertys top-line growth going forward. The buyout will not only strengthen Liberty Propertys industrial portfolio, it will also expand the companys footprint in three of the top five industrial markets of the U.S.

In particular, the acquisition will deepen its reach in existing Liberty industrial markets, including Chicago, South Florida, Houston, New Jersey, Maryland and Central Pennsylvania. Moreover, it will offer the company the opportunity to expand its platform in new markets including Atlanta, Dallas/Fort Worth and Southern California. Moreover, recently Liberty Property disclosed the leasing of 7.5 million square feet in its industrial portfolio in third-quarter 2013. With this, the company recorded the highest quarterly leasing volume, since its inception in 1972.

We are encouraged with Liberty Propertys noteworthy achievement in industrial portfolio acquisition and leasing. As a matter of fact, the U.S. industrial market is benefiting from the healthy demand for such properties with the net absorption rate improving and vacancy rates declining. Hence, with the high-end tenant base, Liberty Property is well poised to ride on the growth trajectory and enjoy a steady rise in rental revenue, going forward.

This Pa.-based real estate investment trust (:REIT) - Liberty Property - currently has a Zacks Rank #3 (Hold). Better performing REITs that are worth a look include CubeSmart (CUBE), Parkway Properties Inc. (PKY) and Sotherly Hotels Inc. (SOHO), all of them carrying a Zacks Rank #1 (Strong Buy).

Zacks Investment Research

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Liberty Closes Cabot Fund Buyout

Events honoring Hilliard and Bednarik spotlight Liberty's sports legacy

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Two Liberty High sports icons. Two different sports. Two very different generations.

But make no mistake, while they are two very different people, Chuck Bednarik and Darrun Hilliard featured the same work ethic and desire to succeed.

That's why a plaque of Bednarik was dedicated inside Memorial Gym on Friday afternoon and why, maybe, Hilliard will have the same honor one day.

Both men took center stage last week.

Hilliard was featured on Wednesday night as part of a special Villanova night at the SteelStacks sponsored by the Christmas City Classic, the high school basketball tournament held in honor of the late George Yasso and Todd Rothrock.

Hilliard, who is coming off a big sophomore season with the Wildcats, is looking forward to two more years filled with promise on the Main Line.

Two days later, Bednarik took a bow as Liberty honored him in two separate ceremonies culminating with the unveiling of a new statue at Bethlehem Area School District Stadium.

Current Liberty student-athletes enjoyed the Bednarik festivities and would have loved the question-and-answer session with Hilliard. The Hurricanes boys basketball team saw both events.

Hopefully they got more out of it than just a night out or time out of the classroom. Hopefully, the idea that hard work can lead to success resonated.

"You try to get that message across to kids and these two very special events brought it home," Liberty basketball coach Chad Landis said. "Bethlehem has changed a lot over the years, but a lot of those underlying principles are all over the place around here."

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Events honoring Hilliard and Bednarik spotlight Liberty's sports legacy

Liberty tax district poised to take leap in revenues

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LIBERTY TWP.

A special tax district initiated by Liberty Twp., Middletown and Mason seven years ago is poised to draw even bigger numbers once a major retail project kicks off later this year.

Since going into effect in October 2006, the joint economic development district or JEDD I has earned $4.29 million, of which $3.37 million has gone to Liberty Twp, according to the most recent township data.

With local governments expected to fund a much greater share of infrastructure projects due to lack of available funds at the state and federal levels, the JEDD is certainly important for Liberty Twp., said Caroline McKinney, the townships economic development director.

Its another tool in the toolbox as it relates to economic development and balancing our community between residential and commercial aspects, she said.

Revenues come from a 1.5 percent tax on workers, property owners and business owners in the 685-acre district, which started off with 624 employees at the end of 2006 and increased to 2,431 by 202, a nearly 290 percent increase.

Net revenues are allocated to Liberty Twp. (83 percent), Mason (15 percent) and Middletown (2 percent), according to Kristen Bitonte, the townships administrator. Middletown receives a 5 percent service fee on gross revenues for their administration of the income tax, she said.

Helping boost collection totals have been the ebb and flow of workers responsible for retail and medical construction projects small and large, including the $83 million Cincinnati Childrens Liberty Campus and the $50 million Liberty Interchange.

District revenues are poised to receive another boost when construction starts at Liberty Center, a more than $300 million, 1.1 million-square-foot mixed-used center to be built at the intersection of Ohio 129, Interstate 75 and Liberty Way. Revenues will receive a further boost from construction of a $160 million expansion to Cincinnati Childrens Liberty Campus.

The thousands of employees expected to be added to staff both projects will contribute millions of dollars in the coming decades to fund area infrastructure and road improvements, promoting and sustaining commercial development in the process.

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Liberty tax district poised to take leap in revenues


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