Archive for the ‘Business’ Category

Klarman Warns Investors to Be Cautious

March 7, 2017 in Business | Comments (0)

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Seth Klarman, Baupost Group Owner. Courtesy of Wikimedia Commons.

A private letter written two weeks by Seth A. Klarman to his Baupost Group investors has become one of the most popular reading items on Wall Street in recent memory.

This is not that big of a surprise considering that Klarman, called by The Economist magazine as “The Oracle of Boston,” is most likely the most successful and influential investor that you probably never heard of.

Well known in Wall Street circles, Klarman tends to keep a low profile outside the rarefied environment of finance. One of the few hedge fund managers to earn the praise of Warren Buffet, Klarman declared in his letter the need to come down from the unreasonably high expectations President Donald Trump’s promises has buoyed the investment community with.

Describing the stock market’s response to the election of Trump as a collection of “perilously high valuations.”

“Exuberant investors have focused on the potential benefits of stimulative tax cuts, while mostly ignoring the risks from America-first protectionism and the erection of new trade barriers,” he wrote.

“President Trump may be able to temporarily hold off the sweep of automation and globalization by cajoling companies to keep jobs at home, but bolstering inefficient and uncompetitive enterprises is likely to only temporarily stave off market forces,” he continued. “While they might be popular, the reason the U.S. long ago abandoned protectionist trade policies is because they not only don’t work, they actually leave society worse off.”

Specifically, Klarman fears that investors have become blinded by all the Trump pro-growth policies without giving much thought to the full consequences of such policies. Klarman is nervous about Trump’s stimulus activities actually proving to be “quite inflationary, which would shock investors.”

He is also worried about the expanding national debt that Klarman thinks will undermine long term growth of the economy.

“The Trump tax cuts could drive government deficits considerably higher,” Mr. Klarman wrote. “The large 2001 Bush tax cuts, for example, fueled income inequality while triggering huge federal budget deficits. Rising interest rates alone would balloon the federal deficit, because interest payments on the massive outstanding government debt would skyrocket from today’s artificially low levels.”

Stabilis Capital and TRB Advisors: Working Together

February 9, 2017 in Business | Comments (0)

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TRB Advisors has been the largest investor to Stabilis Capital of New York funds since its establishment.  For example, the Stabilis Fund IV, launched in 2015, received the majority of its investment from that firm, headed by Timothy Barakett, who acts as Stabilis Capital’s non-executive Chairman.

Barakett has so far been “impressed” with the performance of Stabilis Capital and believes the privately-held investment management firm has “an exciting investment pipeline.”  Stabilis’ focus is on asset-oriented distressed debt as well as other distinct situations, mainly in America.

Looking at the firm’s asset under management, since its launch six years ago, Stabilis has successfully raised more than $1.2 billion via different investments.  In addition, it has built up secure relationships with investors such as Barakett, which has resulted in the development of a “deep and scalable capital base.”


Country-Wide Insurance Now Offers Mobile App Accident Help

October 6, 2016 in Business | Comments (0)

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Country-Wide now offers a mobile app to its customers to help smooth the claims process.

Country-Wide now offers a mobile app to its customers to help smooth the claims process.

Anyone who has ever been in a car accident, even the most minor, knows that it is a scary experience. It is normal for our first response to be “Am I and my loved ones OK, physically?” Once you have established that health-wise everything is fine, now it’s time to get down to the nitty-gritty of getting the help you need. But if you are like most people, it is probably hard to think about all the details of what you need to do once you have established that you are physically OK.

Insurance companies know this, and several have come up with an answer that streamlines the process that a car accident sets in motion: a mobile app designed to make the moments immediately following a car accident as stress-free as possible.

Large insurance companies such as Geico, AllState and State Farm offer their customers mobile apps, but did you know that smaller underwriters are also developing and making available mobile apps for their customers as well?

One example is Country-Wide Insurance. This family owned and operated insurance company was incorporated in New York State in December, 1963. It is licensed to write all types of property and casualty insurance, but has a special focus on lower limit private passenger and commercial automobile insurance. They also limit their reach to downstate New York, and offers competitive rates to loyal customers through their neighborhood representatives.

Now Country-Wide is joining insurance companies, big and small, to offer their customers an app for their smartphones which will help smooth the process of getting through a car accident. The app guides users through the necessary steps which must be taken after a car accident, such as collecting all the information required to file a claim; getting whatever emergency responders are needed on the scene as soon as possible; finding the closest towing service; and/or calling for roadside assistance.

The mobile app also helps with tips to remain calm; knows automatically the date, time and location of the accident; produces a detailed accident report, including photos and contact information; easily sends your report to any email address; and has within it answers to the most frequently asked claim-related questions.

It goes without saying that car accidents are extremely unpleasant affairs at their best, and should be avoided to the extent humanly possible. But it’s nice to know that if such an inconvenient and troublesome event were to take place, there is a small precaution you can take which can make a big difference. There is no question that it is a good idea to be prepared with such an app already downloaded on your phone in the hope that you will never have to use it- but if you do need it, you’ll be glad it was there for you.

New York City: Capital of Capitalism

February 3, 2016 in Business | Comments (0)

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Business in booming in NYC

Business is booming in NYC

Not yet convinced that New York is amazing? What if you were to learn that there are more fast-growing companies lurking in the Big Apple than in any other US city? New York City is home to 204 of 2014 Inc 5000’s best businesses.

You can check out all 204 on your own, but here we will just mention three. Prepare to be thrilled.

1.    Centric Digital was founded in 2009 and ranks 34 with an incredible 6,898 percentage three-year growth rate. CD has 140 employees, and this is what one co-founder, Jason Albanese says was his ‘lightbulb moment.’ “We saw a gap in business services: Traditional large companies that are not in the business of digital were not getting the services they need to become more digital.”

2.    Adore me ranks 49 with three-year revenue growth of an astounding 5,505 percent. Founded by Morgan Hermand-Waiche in 2010, her light bulb moment went like this: “The birthday of my girlfriend was coming up, and I wanted to buy her some lingerie, and I couldn’t find something as nice as I wanted in my budget.”

3.    Tough Mudder was founded in 2009 by Will Dean while he was attending Harvard Business School. This event company has had three-year revenue growth of a very solid 4,737 percent. The company offers: extreme runs through inventive–and curse-inducing—obstacles. Dean began with $8,000 when he graduated Harvard, marketing his first even on Facebook, which inspired 4,500 people to sign up. “We set goals way outside of what we logically can accomplish, and then break all our existing systems to get it done,” says Vice President of branding Alex Patterson.

Brooklyn Flea Winter Wonderland

January 4, 2016 in Business | Comments (0)

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brooklyn-839636_640Just because its winter does not mean there are no flea markets open for your shopping pleasure.

At Industry City enjoy the Winter Flea and Smorgasburg, open every weekend. The market moves indoors all winter in a 50,000 square-foot space in Industry City at 241 37th Street in Williamsburg. You will find over 100 sellers with furniture, housewares, vintage clothing, antiques, jewelry, art, and crafts. Forty vendors have their yummies cooked and packaged foods on sale. Open from 10am to 6pm Saturdays and Sundays.

In Crown Heights head on over to Berg’n at 899 Bergen Street. This is not quite a flea market, but more of a beer and food hall. You will become acquainted with over a dozen taps, 50+bottles and cans, plus food from such beloved vendors as Ed & Bev’s, Lumpia Shack, Mighty Quinn’s BBQ and Samesa. Enjoy Happy Hour Tuesdays through Fridays from 4pm to 7pm. You can even get a private dining room for that special event.

What, you have something to contribute to this great selling adventure. Beginning in April 2016 the ninth season of Brooklyn Flea commences, and you can be part of it. There is an emphasis this year on finding great designers and makers of fashion/clothing, housewares/interiors, functional pieces, and much more. Want to get involved? Go to Brooklyn Flea or contact

Marc Lasry: Co-Founder of New York-Based Avenue Capital Group

November 13, 2015 in Business | Comments (0)

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Marc Lasry

Marc Lasry

Marc Lasry is the co-founder and chief executive officer of New York-based Avenue Capital Group. A self-made billionaire, Lasry emigrated to the U.S. with his family from Morocco when he was seven years old.

He received a B.A. in history from Clark University, and later a J.D. from New York Law School. After graduating, Lasry served as co-director of the Bankruptcy and Corporate Reorganization Department at Cowen & Company. He also served as Director of the Private Debt Department at Smith Vasiliou Management Company.

In 1989, Lasry founded Amroc Investments, a distressed debt brokerage, with his sister Sonia Gardner. The siblings founded Avenue Capital Group in 1995, with an initial investment of $7 million.


Blue Apron Delivers Right to Your Door

September 4, 2014 in Business | Comments (0)

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Blue Apron delivers fresh ingredients, pre-measured, right to your door.

Blue Apron delivers fresh ingredients, pre-measured, right to your door.

This is one of the best ideas I’ve heard of in a long time: purchasing exactly what you need, no more and no less, for a particular meal that you want to make at home. A new online company, which is based right here in New York, called Blue Apron, delivers fresh ingredients right to your door.

For a very reasonable $10 per person per meal, Blue Apron plans your menu, shops for your ingredients, measures out the quantities that you need, and then delivers it all. Then all you do is cook, relax, and enjoy your meal.

Patrons learn new, delectable recipes, and get to eat fresh and healthy meals made exactly the way you like. Each meal takes about 35 minutes to prepare, contain about 500-700 calories per serving, and come with easy to follow, easy to look at, recipe cards.

Customers sign-up online for a weekly subscription which can make as little as three meals per week for then number of people you specify. Meals are recommended each week based on what you like to eat, and no matter which plan chosen, there is no commitment. It is possible to skip any week as long as Blue Apron knows by the weekly deadline for the coming week.

Although based in New York, they are ready to deliver to customers in many places all over the country. Check out their web site: Blue Apron.

Hell’s Kitchen Flea Market: Shop ‘til You Drop

April 5, 2014 in Business | Comments (0)


hkfmbagWho can visit New York and not want to explore some of the best shopping found anywhere in the world? And where is the “best of the best?” The famous names come easily, such as Fifth Avenue, the Lower East Side’s garment district, the Upper West Side for antiques. But what do you know about one of the “World’s Top Ten Shopping Streets” according to National Geographic? That is, of course, the Flea Market in Hell’s Kitchen.

Every Saturday and Sunday from 9am to 5pm, all year long, excited shoppers converge on one of New York’s most fun places to go, the HKFM. The West 25th Street Market is an amazing place to find great bargains; the best antiques anywhere in town will be for sale in The Garage; and for furniture, there is nowhere else that can match the Hell’s Kitchen Flea Market.

Come and see for yourself. 112 Wst 25th Street between 6th and 7th Avenues. For more information contact 800.780.7330

NYC’s Trust Services Appoints New Senior Vice President

November 28, 2012 in Business | Comments (0)

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Investment and banking sectors have seen moderate growth over the last two quarters. In response, banks have been boosting their management teams in an effort to regain lost momentum.

Paula Laliberte, veteran trust administrator at City National Bank, recently joined Trust Services. She will take on the roles of senior vice president and regional trust manager in New York City.

Working to ensure optimal utilization of the bank’s capabilities, Laliberte will be working with NY hedge fund and private equity professionals, high-net-worth families, entrepreneurs and professional service firms. City National specializes in credit, private wealth management, treasury and cash management, foreign trust solutions and more.

Laliberte will report to Trust Services manager Mike Dowling in Los Angeles.
He explained:

“Especially with looming changes in the tax laws, Paula brings the expertise to find trust and estate planning solutions for our clients. She will work with your attorney or accountant to help craft a custom plan to serve your needs and protect your assets.”