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On January 20, 2006 the president of the Hero Scholarship Fund announced that " After carefully comparing revenues over the past several years, including decreases as well as the expense and difficulty in putting on the show, it has been decided to discontinue the show ...." In April, 2006, James J. Binns, a Philadelphia lawyer, founded the Hero Thrill Show, Inc., which assumed production of the Hero Thrill Show and the administration of funds generated by the Hero Thrill Show.
The board of directors is chaired by Binns and is composed of the police and fire commissioners, president of the Fraternal Order of Police, Lodge Number Five, president of the International Association of Firefighters, Local 22 and a number of Philadelphia business leaders.

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