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☆ Meet the brightest investors and dealmakers under 35 from firms like Blackstone and Bridgewater navigating today's choppy markets.
▼ + stars: | 2022-09-29 | by ( Aaron Weinman | ) www.businessinsider.com time to read: +5 min

After months of interviews and countless rounds of fact checking, meet 25 best-in-class investors, traders, and dealmakers under the age of 35, from firms like JPMorgan, BlackRock, and Apollo, among others. Here is the latest crop of rising stars — Wall Streeters under the age of 35 who are pushing their teams to the top. The end result celebrates people from all walks of life who are infusing new ideas at the biggest firms. He works across the firm's funds TPG Capital and TPG Growth, and also covers TPG's impact-oriented initiative called The Rise Fund. HBCUvc's operating chief reviews hundreds of applications for the program that offers paid internships at VC firms.

☆ The rising stars of Wall Street: Meet 25 outstanding young investors, traders, and dealmakers at firms like Blackstone, JPMorgan, and Bridgewater
▼ + stars: | 2022-09-28 | by ( Alex Morrell | Alyson Velati | Asia Martin | ) www.businessinsider.com time to read: +2 min

Akash Pradhan, 33, TPGTPGWhen Akash Pradhan needs to clear his head, the 6'1" principal at TPG heads to the basketball court. The San Francisco Warriors fan's love of sports led him to his first job with The Raine Group. As an analyst at Raine, the company exposed Pradhan to M&A advisory and private-equity investing. Over the past five years, Pradhan has been involved in or helped lead deals that total roughly $3 billion in invested capital. "I'm proud to have changed people's thought processes and perspectives on a particular industry we ended up investing in."

☆ Goldman Sachs: Newly-unredacted document alleges dozens of incidents of ‘sexual assault and harassment’ at firm, lawsuit says
▼ + stars: | 2022-09-24 | by ( Laura Ly | ) edition.cnn.com time to read: +3 min

CNN —A newly-unredacted document alleging an “uncorrected culture of sexual assault and harassment” at investment bank Goldman Sachs states that at least 75 incidents of alleged sexual assault and harassment were reported between 2000 and 2011. The document is part of an ongoing gender discrimination lawsuit against the investment bank that dates back to 2010. Richard Perry/The New York Times/ReduxThe lawsuit, originally filed on behalf of former Goldman Sachs employees Cristina Chen-Oster, Allison Gamba, Shanna Orlich, and Mary de Luis, became a class-action lawsuit in 2018. Goldman Sachs said in a statement Friday that the allegations do not “reflect reality” and that many of the claims are “two decades old and have been presented selectively, inaccurately and are incomplete. ““Discrimination, harassment and mistreatment in any form are unacceptable at Goldman Sachs, and when identified, swift action, including termination, is taken.

She likened the climate contributing to the couple's decision to leave Texas to "death by a thousand paper cuts." The business risks to recruiting is especially high for oil companies, already unpopular with graduates of engineering programs, said Jonas Kron, chief advocacy officer at Trillium Asset Management. Texas Governor Greg Abbott has acknowledged the state is losing workers, but does not regret the departures. Oil companies contribute to politicians who advocate for free trade, tax and energy policies through political action committees (PACs). Dawn Seiffert, 52, and her husband, an oil company employee, returned to Texas in 2012 and planned to stay.

☆ How 'The Goldbergs' addressed Jeff Garlin's exit in the season premiere
▼ + stars: | 2022-09-21 | by ( Sandra Gonzalez | ) edition.cnn.com time to read: +1 min

(CNN) Saying goodbye is never easy, but the Goldberg family is doing the best they can in the new season of "The Goldbergs." The show wasted no time addressing the exit of Jeff Garlin from the sitcom, mentioning in the opening moments of Wednesday's season premiere that patriarch Murray had passed away "just a few months ago" and went on to show the family still processing their grief. Adam and Barry worked through some of their feelings in a "Field of Dreams"-inspired plot. The process forces Beverly to confront Murray's absence and her inability to go through some of his remaining belongings. She ultimately decides it's time to do so, clearing a closet full of his clothes and getting rid of his old chair.

☆ Josh Harris co-founded Apollo, but his ownership of the 76ers and Devils was a distraction and a 'source of tension' for former employees.
▼ + stars: | 2022-09-21 | by ( Aaron Weinman | ) www.businessinsider.com time to read: +6 min

He stepped away from day-to-day activities at Apollo Global Management — the private-equity firm he co-founded — in May last year. Josh Harris upset Apollo insiders with the amount of time he spent on personal investments. During meetings for Apollo matters, Harris would sometimes take phone calls unrelated to the company, one person told Insider. Harris would also use Apollo employees to help on personal investments. People who worked on Harris' personal investments became "untouchable" within the organization.

☆ Why Apple, Google and Microsoft are spending more time on TikTok
▼ + stars: | 2022-09-21 | by ( Mikaela Cohen | ) www.cnbc.com time to read: +7 min

ReutersThe explosion of TikTok's popularity has pushed the app into the biggest technology companies' focus. Google, Apple and Microsoft all have TikTok accounts, with over 8.5 million likes between the three. While Apple has more than 1.3 million fans on the platform, Google and Microsoft have 403,000 and 143,000, respectively. Big tech companies are finding success on TikTok by not only creating personable content, but by creating content that follows trends already on TikTok — often related to corporate humor and professional advice. While more users are flocking to TikTok, Easter said big tech firms could miss out if they don't invest in content creation.

☆ How Josh Harris, the owner of the 76ers and Devils, upset Apollo insiders with the time he spent on personal investments
▼ + stars: | 2022-09-20 | by ( Casey Sullivan | Hayley Cuccinello | ) www.businessinsider.com time to read: +16 min

One former Apollo executive couldn't wrap his mind around how the firm got investors onboard with Harris' personal activities. One advisor to Harris' family office said there would be an internal conversation every year to ensure the proper expense allocations. Several former Apollo employees, however, said other Apollo executives were concerned about Harris' use of firm resources. Few if any sources Insider spoke with expected much to change in how private-equity executives managed their personal investments. The lawyer said that the documents often state that a firm's executives will dedicate "as much time as reasonably necessary" to managing their investments.

☆ A South Carolina mom who never pays for toothpaste or toilet paper shares the free app everyone should have to save money
▼ + stars: | 2022-09-15 | by ( Mary Beth Gahan | ) www.businessinsider.com time to read: +4 min

Hayley Bennett runs @that_coupon_chick, an Instagram page focused on coupons and deals, and recommends Ibotta as her favorite app. Everything was expensive and I was trying to find a way to save as much money as I could. I thought I was just going to use coupons here and there, save a little bit of money. Then I realized just how much this could really impact people and how much money you really could save. There's one app I recommend getting right awayI use a multitude of apps, but if anyone was going to get just one app, get Ibotta.

☆ SoftBank's View just narrowly escaped running out of money. Here's how it went from investor darling to one of the worst SPAC deals ever.
▼ + stars: | 2022-08-08 | by ( Hayley Cuccinello | Aaron Weinman | ) www.businessinsider.com time to read: +1 min

The California glassmaker announced on October 27 that it raised $200 million in convertible senior notes due in 2027. View has struggled since going public less than two years ago via SPAC, and was nearly delisted by the New York Stock Exchange for failing to file numerous financial statements. For those looking from the outside, View's troubles came on suddenly, but insiders said the company burned cash and struggled with product failures for years. Insider spoke with 27 former employees and two current employees across View's finance, sales, marketing, factory-operations, engineering, recruiting, and IT departments. "He's always been able to pull a rabbit out of a hat when it comes to procuring more money for the company," one banker familiar with View said.

☆ A SpaceX civilian astronaut who flew in orbit for 3 days joins rival company Blue Origin as an engineer
▼ + stars: | 2022-07-19 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Civilian astronaut Chris Sembroski said he's joined Blue Origin, Jeff Bezos' rocket manufacturer. SpaceX and Blue Origin are big competitors in the commercial space industry. "I am thrilled to be a part of our expansion out to the rest of the universe – AND to announce I have joined Blue Origin! Elon Musk's SpaceX and Bezos' Blue Origin are known for their rivalry given that the two billionaires have butted heads for over 15 years. Last year, Blue Origin sued NASA over the agency's decision to award a moon-landing contract to SpaceX.

☆ Dega Nalayeh is a Somalian refugee-turned-banker to the uber-rich. Here is how she built her $6.7 billion book of entertainment and sports clients.
▼ + stars: | 2022-07-07 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

She joined Bank of America in 1998 and is now a top private banker with $6.7 billion in client assets. Nalayeh told Insider how she built her book while raising a toddler as a single mom. Today, Nalayeh is a top advisor in the private bank with $6.7 billion in client assets as of December 2022, the bank said. The Los Angeles banker told Insider how she amassed her clientele of entertainment and tech millionaires. In 2000, she moved to the private bank in a customer service role, supporting private bankers with wire transfers, for instance.

☆ The wealthy are buying yachts and jets in record numbers, and they're doing it without having to put much cash down. Here is how it works.
▼ + stars: | 2022-01-19 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +7 min

The wealthy have been buying up yachts and jets without having to put much cash down. Borrowing against yachts or jets at the point of purchase — or shortly after — means customers can put up little to no cash to close the deals. Depending on the desirability of the asset, banks extend loans from half to nearly 100% of its value. Another benefit of lending against yachts and jets is that clients can still enjoy them during the loan. At Bank of America, 80% of its yacht-backed loans are for existing private bank clients, according to Verbit.

☆ Wealthy parents are taking out cheap loans to buy their adult children homes and save on taxes. Here's how it works and why it's feeding the all-cash bidding frenzy.
▼ + stars: | 2021-10-13 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

For wealthy parents, these loans are a way to pass on their wealth to their children at a low cost. Every week for the past 14 months, the wealth advisor Aaron Bell has had to help his affluent clients buy houses. With interest rates on loans as low as 2%, clients can save money by taking out loans they don't need, rather than liquidating their stock and incurring hefty capital-gains taxes. Parents pledging their investment accounts with their child as the borrower is a tax-efficient way to pass along assets before death. These lines are also secured by the value of the property, which means that as it appreciates, the adult child's dependence on their parents' assets decreases.

It costs more than $1 million to open a McDonald's or Wendy's franchise. Meanwhile, it costs $10,000 to open a Chick-fil-A franchise. For example, you must have at least $500,000 in liquid assets to open a McDonald's and $750,000 to open a Taco Bell. And, while the typical Chick-fil-A franchise can exceed $8 million in sales, franchise owners must pay 50% of their net profits to the chain. Following the name of each restaurant chain is the average total startup costs to open one restaurant in the US.

☆ Bed Bath & Beyond, Party City, JCPenney, and more: The biggest retail bankruptcies of the past 15 years
▼ + stars: | 2019-12-23 | by ( Hayley Peterson | ) www.businessinsider.com time to read: +1 min

Top editors give you the stories you want — delivered right to your inbox each weekday. Loading Something is loading. The bankruptcies spanned a broad spectrum of retailers, including RadioShack, American Apparel, Borders, Blockbuster, and Sears. Many of these bankruptcies resulted in mass store closings that have helped send hundreds of shopping malls into years-long downward spirals, from which some malls never recovered. Here are some of the biggest bankruptcies of the past decade.

☆ What the sole heiress to the In-N-Out empire and one of the US's youngest billionaires' life is really like
▼ + stars: | 2019-02-01 | by ( Rachel Askinasi | Hayley Peterson | ) www.businessinsider.com time to read: 1 min

The reason? "We want to do what we do best, and that's serve some good burgers to our customers," she told "CBS This Morning." "It's not about us here — it's about this," she said, pointing to the restaurant behind her. Source: "CBS This Morning"

☆ Here's what it costs to open a McDonald's restaurant
▼ + stars: | 2016-08-04 | by ( Hayley Peterson | Nancy Luna | ) www.businessinsider.com time to read: +4 min

McDonald's restaurants posted average domestic sales of $4 million in 2021, according to the chain's franchise disclosure report for 2022. Initial investment costs for running a McDonald's range from $1.4 million and $2.5 million — including a $45,000 franchise fee. Total costs to launch a franchised Chick-fil-A restaurant range from $219,055 to $2,912,697, according to the chain's 2022 franchise disclosure report. Chick-fil-A restaurants, which are only open six days a week, average more than $8 million in sales annually among non-mall locations. But by mid-December 2022, McDonald's had grown to 13,666 US restaurants, according to preliminary store count data obtained from market research firm Datassential.

☆ The Rise And Fall Of The Crumbs cupcake empire
▼ + stars: | 2014-06-05 | by ( Hayley Peterson | Alex Bitter | ) www.businessinsider.com time to read: +1 min

Crumbs Bake Shop popularized fancy cupcakes in the early 2000s before the brand floundered in the 2010s. But Crumbs' founders returned to the brand last year and are rebuilding it with a new strategy. From the first store in New York City to their delivery-savvy reboot, here's the full story of Crumbs. The husband-and-wife team who opened the first Crumbs store in Manhattan grew their business to dozens of locations in an effort to become America's local bakery. Here's the complete story of Crumbs:

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