Category Archives: Business Partnerships

Bruce Levenson Bring Lawsuit Against Insurance Company

According to an AJC.com article on September 14, 2016, the Atlanta Hawks Basketball and Entertainment LLC, file a lawsuit against AIG, a New Hampshire Insurance Company for breach of contract. This lawsuit was placed against the insurance company by former ownership group (AHBE), including Bruce Levenson, the controlling partner at the time.

So, what is breach of contract? A breach of contract is a binding agreement in which the agreement in which the parties have agreed too, are not honored. The lawsuit claims that the Insurance Company did not honor

This AHBE group brought the civil action lawsuit on September 13, stating that they were insured by the insurance company for certain losses that were related to employment practices, which included such acts as “Wrongful Termination” and “Workplace Torts”. On April 2, 2015 claims were submitted by Danny Ferry, the former general manager of the Atlanta Hawks, for issues that was believed to be covered by the insurance contract. AIG is refusing payment.

AHBE group and Forbes billionaire Bruce Levenson are asking AIG for compensation for the initial loss, 50% additional payment beyond the initial loss, and payment of their attorney’s costs and fees.

Since this claim was brought forth by the former owners of the Atlanta Hawks, the current owners would make no comment on the matter.

Bruce Levenson is a philanthropist, businessman and former controlling partner of the Atlanta Hawks Basketball and Entertainment LLC. As a philanthropist he was the founding donor of the United States Holocaust Memorial Museum in Washington DC, as well as, funding other various causes for the Jewish community.

In a report by benzinga.com, since conception he has been a supporter for the Seed Foundation, a boarding school program for disadvantaged students in the DC, Maryland and Miami area.

 

Why a Coworking Space in Manhattan is the Way to Enter a New Market

 

Many companies are moving into shared office spaces as a way of expanding into new markets. Shared office spaces such as the ones offered by Workville, one of the leaders in the shared office space workspace, provide notable advantages over leasing new facilities which can significantly harm and limit a business.

When a company expands into a new market they often make assumptions about the needed size and scope of their business in the new market. Projecting the future revenue and costs in the new market can be challenging and based on factors that can be influenced by numerous outside forces such as customer reaction to a new option, a competitor’s reaction to the entry of a new competitor into a market, and even the impact of taxes and other regulatory factors. While these business uncertainties are part of life, a company entering into a new market may not want to make a long term commitment. Many office space lessors may require long-term lease commitments that are both expensive to terminate and to build out and improve. A New York shared office space like the ones offered by Workville can allow a business to avoid that long term commitment to an office space and can take a wait and see approach to the market before making a long term commitment.

 

In addition, businesses are always expanding and shrinking and may not be sure what their future space requirements will be. A long term office lease will provide a certain sized space for the business but will potentially limit their growth or require a costly move in the future. Shared office spaces like Workville are much more flexible in their approach to tenants and often allow them to take on additional space as needed and available and quickly ramp up if the business opportunities are present.

 

Furnishing a office space can be expensive and challenging, particularly for companies expanding into foreign markets. A shared office space like Workville lets management concentrate on the business and not on finding phone and internet providers and all the other distractions of moving into new office space. Shared office spaces are easy solutions for businesses who are looking to simplify their business model and let their staff members run and grow their business.

Diversant Satisfies the Needs of Perspective Employers and Vets

In 1994, John Goullet founded Info Technologies, serving in the position of their CEO. By 2010, he merged his technology company with Diversant, created by Gene Waddy in 2005. The two merged companies became Diversant LLC. Goullet began his IT career as a consultant. The 54-year-old changed to the staffing department in 1994. By 1999, Info Technologies had grown into a $30 million company. Info Technologies was honored by Inc. Magazine as one of the top 500 fastest growing companies. John Goullet was a student at Ursinus College, class of 1983 where he graduated with a degree in information technology. At Diversant LLC, Goullet serves as their principal and chairman.

Diversant LLC has a small and personal staff, headed by Gene C Waddy. Diversant LLC is the largest African American owned information technology solutions company. This company is located in Red Bank, New Jersey.

Jim Yoshimura is the company’s CEO. He brings 30 years of IT experience to Diversant LLC. The company works with such services that include banking, insurance,energy, manufacturers, healthcare providers, and more. Diversant works very hard to make sure all of the Fortune 500 have the right IT staff for their companies. Diversant has a pool of qualified people just waiting to work for a Fortune 500 company. Companies looking to hire qualified personnel can hire directly . Divertsant does all the work because managers and recruiters work to line up senior and middle management level workers. Diversant has a direct line with industry contacts and professional agencies.

Diversant works with veterans who are retiring from the service and looking forward to finding work in civilian employment. Diversant has a STAR program designed to help retrain veterans. The veterans must have a BS or BA from an acredited college. They must have some experience with Micrsoft programs and willing to learn IT skills. Finally, veterans must have an honorable status. One veteran said that he was trying to get into an IT program for 10 years, and John found that Diversant was the only place that could get him employed in an entry level IT position.

Additional Information can be found below.

http://hackronym.com/john-goullet-building-the-future/

http://www.bloomberg.com/research/stocks/private/person.asp?personId=5974389&privcapId=88571678

Anthony Marsala Key In Madison Street Capital

 

Anthony Marsala, Chief Operating Officer and Co-founder of Madison Street Capial, LLC, has been chosen by the National Association of Certified Valuators and Analysts (NACVA) and the Consultants’ Training Institute (CTI) as part of the 2015 40 Under Forty program.

As stated in the article, “Madison Street Capital’s Anthony Marsala recognized by The National Association of Certified Valuators and Analysis” from the Chicago Tribune, the NACVA selected the nominees under the age of 40 that have outstanding advances in financial forensics, expert witness testimony, litigation consulting, business valuation, mergers and acquisitions and similar professions.

The NACVA and CTI states that this 40 Under Forty program is a chance for the best of the best to shine as experts and leaders in specific subject matters. Marsala was one of the 40 people selected from over 125 qualified nominations by the Executive Staff of NACVA and CTI.

Marsala’s specialty is in business valuation, corporate finance and M&A. In the past 13 years of working in this industry, Marsala has had a variety of positions, including performing and reviewing many valuation and transactional ventures. These ventures have been in a multitude of business industry areas with a variety of company sizes focusing primarily on middle market companies and early stage ventures.

Marsalas graduated from Loyola University in Chicago, with studies in both finance as well as Information System. He also has a Masters in Strategy obtained from Said Business School from the University of Oxford. In addition to his impressive education he is a member of the NACVA and the American Society of Appraisers (ASA).

Madison Street Capital is an investment banking firm that works internationally offering financial advisory services, M&A expertise, financial opinions and valuation services to both public and privately held businesses. Due to the vast array of services Madison Street Capital offeres, it is no wonder that Anthony Marsala has proven himself to be an exemplary businessmen making extraordinary advances in the industry.

These shining stars of the 40 Under Forty will be featured in a series of press releases, profiles in The Value Examiner, NACVA’s Association News, QuickReadingBuzz Blog and through other sources.

The Genius of Brad Reifler

In many instances, the term genius is used when perhaps it does not apply. However, for people with an intimate knowledge of the financial industry, they agree the word genius definitely applies to Brad Reifler. Having established himself as one of the world’s most successful investors and entrepreneurs for more than three decades, his keen attention to detail and unmatched ability to analyze facts and figures has led to him starting various companies and succeeding with each and every one.

Beginning with Reifler Trading Company in the early 1980s, Brad made it clear from the beginning that he was something special. Using a unique combination of institutional research, information dissemination, and global advisory services, Brad grew the company into one of the world’s largest futures operations companies. In fact, by the time he chose to sell the company in 2000, RTC was considered one of the biggest and most influential futures companies in the industry.

While incredibly successful at RTC, it was his next company Pali Capital that put the world on notice that Brad was here to stay. At Pali, he perfected his use of the strategies used at RTC and also incorporated new ones such as derivative structures and in-depth credit analysis to develop strategic planning that took Pali to new heights. Believing strongly that these strategies were the keys to success for himself, his sales team, and investors, Brad put his theories into practice and produced stunning results. When he ended his wildly successful run as the company’s CEO after 13 years, his company and its investors had reaped the benefits of more than $1 billion in commission income. As he continues to look toward the future as CEO of Forefront Capital Management, Brad realizes it is hard work and determination that keeps a company on top.

Shaquille O’Neal and Boraie Development Hosting “Believe in Newark” Tourney

 

NJ.com reports that basketball giant (both literally and figuratively) Shaquille O’Neal is returning to his native Newark, New Jersey to co-host a basketball tournament that is scheduled to take place right in front of City Hall. Along with Newark Mayor Ras Baraka, the 7’ 2” retired sports star will oversee the games. Both male and female high school players are eligible to register. Preliminary games were held at the JFK Recreation Center. O’Neal himself began his illustrious career on a Newark high school basketball team.

Newark was a really rough place when O’Neal was growing up here in the 70s. That is why his parents did everything in their power to keep him off the streets. They enrolled him in the local Boys and Girls Club. Although he left to pursue his fantastic basketball career, he has maintained a presence in Newark. Throughout the years he has put millions into its economy via various investments. Back in 2012, he partnered with real estate developer, the New Brunswick-based Boraie Development, to resurrect an old, run down theater in his beloved city.

That was only the beginning. Before it played out, a sport’s legend partnering on a real estate project was considered risky. Other stars have done it in the past and have ended up having to file bankruptcy. However, that has always been because the stars partnered with companies that didn’t really have what it takes. Boraie Development definitely has what it takes and O’Neal found that out from the first project. The theater turned out perfectly and has proven to be an enormous success. Since its opening, attendance at the venue has doubled every year.

Shaq and the real estate juggernaut continue to run Newark development projects together. The partnership has worked extremely well for both. It wasn’t long before the partnership began garnering quite a bit of public attention. This is not unusual especially considering O’Neal’s enormous fame and wealth. Because of his already enormous wealth, he is not really doing this for the money. His primary aim is to help his native home. That being said, O’Neal has also partnered with Boraie on real estate ventures in other cities.

He has several other business ventures but still remains a part of the planning process with Boraie. The vastly experienced and knowledgeable Boraie then handles all of the details of the operation.