Philadelphia Mayor Michael Nutter, whose municipality has the lowest credit rating of the five most-populous U.S. cities, will address investors at a conference financed by underwriters and closed to the public and the press.
Hurricane Irene killed at least 18 people from Puerto Rico to Connecticut, caused an estimated $3 billion in damage and cut electric power to more than 4 million homes and businesses across the eastern U.S.
Hurricane Irene killed at least 40 people as it moved from the Caribbean through New England, left an estimated $2.6 billion in damage and cut power to almost 8 million homes and businesses along the U.S. East Coast.
Philadelphia and its school district have lost a combined $331 million on interest-rate derivatives known as swaps, and the city stands to lose $244 million more, the Pennsylvania Budget and Policy Center said in a report.
Former officers and directors of First Centennial Bank were sued for negligence by the Federal Deposit Insurance Corp., which said it had to pay $163 million to depositors after the bank failed in January 2009.
Los Angeles police evicted protesters camped in hundreds of tents around City Hall, ending almost two months of occupation and detaining about 300 people, while a similar operation in Philadelphia led to 52 arrests.