DIRS.INFO The most relevant business & tech news

☆ Inflation is coming down. Here's what that means for your annual pay raise
▼ + stars: | 2022-11-25 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +7 min

Once you pay people more, it's hard to claw that back even when inflation starts to come back down. Inflation and annual pay are not in a one-to-one relationship. That became clear to many workers last year when their annual merit increases in salary and wages were not anywhere near the four-decade highs for inflation. But Reilly said that to date, the numbers are "solidly at 4%" for both executive and rank-and-file pay increases. Pearl Meyer research indicates that merit increases are a lagging indicator relative to inflation and costs.

☆ Is the Fed 'going rogue'? Calls heat up to back off quest for 2% inflation
▼ + stars: | 2022-11-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

For at least a decade, the Federal Reserve's position that a 2% inflation rate is where the economy best functions has been taken as gospel. 'Going rogue' "As far as 2% is concerned, I think it's stupid," said Jim Paulsen, chief investment officer at Leuthold Group. Paulsen and Sternlicht aren't the only critics of Fed policy. Achieving a steady 2% inflation rate, however, has proven elusive for the Fed. 'The gold standard' for policy But Fed Chairman Jerome Powell and most of his colleagues have rebuffed calls to raise the goal.

☆ Inflation is coming down hard and faster than expected, says Barry Sternlicht
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation is coming down hard and faster than expected, says Barry SternlichtBarry Sternlicht, CEO of Starwood Capital, joins CNBC's 'Squawk Box' to discuss his forecast for inflation, the strong U.S. labor market, and more.

☆ Starwood's Barry Sternlicht says what the Fed is doing to the economy is 'suicide'
▼ + stars: | 2022-11-17 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +1 min

The Federal Reserve's moves in 2022 to aggressively raise interest rates to cool down inflation will inflict greater harm to the economy than expected, according to Barry Sternlicht, chairman and CEO of Starwood Capital Group. The impact of the Fed's rate hikes won't hit right away, he said. Instead, companies will pull back their budgets for 2023 as they worry about economic recession and consumer weakness. "It's going to slow the economy, it cannot do anything other than that," he said. The U.S. Treasury may have to start buying its own assets, doing its own kind of quantitative easing while the Fed is increasing interest rates and trying to slow the economy, he said.

☆ Major Miami Beach Real-Estate Projects Nixed by Voters
▼ + stars: | 2022-11-14 | by ( Deborah Acosta | ) www.wsj.com time to read: 1 min

Miami Beach voters in a series of referendums last week derailed three major real-estate projects from top U.S. developers, reflecting a budding backlash against certain new development plans for the city. Property developer Stephen Ross , Related Cos. chairman and owner of the Miami Dolphins, had been planning to replace the historic Deauville Beach Resort on Collins Avenue with a new hotel and development. Starwood Capital Management , led by Chief Executive Barry Sternlicht , and Miami developer Don Peebles Jr. have also been preparing to build new office towers near the ocean.

☆ Inside ex-Goldman Sachs banker Gregg Lemkau's big bet on himself
▼ + stars: | 2022-10-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Gregg Lemkau (center) led MSD Partners, the investment firm financed by Michael Dell (right) to a merger with merchant bank BDT & Company, founded by Byron Trott (left). Gregg Lemkau seemingly had it all, which is why many were surprised at his decision to end his 28-year tenure at Goldman Sachs to run MSD Partners, Michael Dell's investment firm, in late 2020. Nearly two years later, Lemkau has silenced any doubters by orchestrating a merger between MSD and merchant bank BDT & Company. Lemkau will serve as co-CEO with BDT founder and CEO Byron Trott of the new firm, which will target rich families and founders. Click here to read more about Gregg Lemkau's ascension at Goldman Sachs and his decision to leave.

☆ Even Barry Sternlicht is getting hammered by rising rates. A recent deal his $6 billion firm backed out of shows how.
▼ + stars: | 2022-10-26 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +7 min

The scuttled deal shows how rising rates have hit Starwood CEO Barry Sternlicht's bottom line. It has canceled its plans to purchase the Stamford, Connecticut, mortgage originator Luxury Mortgage Corp., according to a person with direct knowledge of the deal. The situation with Luxury Mortgage, however, shows how rising rates have also affected Starwood's bottom line. A budding partnership was upended by rising ratesIn recent years, Starwood has become one of Luxury Mortgage's biggest customers. Luxury Mortgage's business has also been strained in recent months.

☆ Jerome Powell and the Fed's 'band of lunatics' are getting inflation all wrong and their actions will break trust in capitalism, billionaire investor Barry Sternlicht says
▼ + stars: | 2022-10-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Powell as his "band of lunatics" have gotten inflation all wrong, Barry Sternlicht told Fortune. He criticized the Fed's delayed response on inflation and for reacting to lagging indicators. Its actions could result in a policy error that breaks trust in capitalism, he warned in the interview. I think they're just wrong," he said, slamming the Fed's inflation response an interview with Fortune on Friday. "You're going to have social unrest ... And it's just because of Jay Powell and his band of lunatics," he added.

☆ Dow soars 400 points as US stocks add to last week's rally ahead of top tech earnings
▼ + stars: | 2022-10-24 | by ( Brian Evans | ) www.businessinsider.com time to read: +1 min

US stocks closed higher yet again after ending last week with strong gains. The Dow Jones Industrial added a further 400 points, leading Monday's rally. Investors were also eyeing earnings reports from several big tech firms later this week. The Dow Jones Industrial Average led the latest gains with a jump of more than 400 points. This week, earnings could be a major stock market catalyst, as investors await quarterly reports from tech giants like Alphabet, Apple, Meta and Microsoft.

☆ An often-overlooked economic measure is signaling serious trouble ahead
▼ + stars: | 2022-10-20 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

However, Fed officials are stressing that they're far from finished when it comes to raising rates. "When this basket is signaling the weakness that it's showing, what the Fed typically does is not raise rates. But in this case, it's not only raising rates aggressively, but with a commitment to continue raising rates aggressively." In addition to the typical headline metrics such as the consumer price index and the Fed's preferred personal consumption expenditures price index, the Cleveland Fed's "sticky price" CPI rose 8.5% on an annualized basis in September, up from 7.7% in August. The measure looks at items such as rent, the price of food away from home and recreation costs.

☆ The Fed is draining the stock market and even the 'healthy fish' will die, billionaire investor Barry Sternlicht says
▼ + stars: | 2022-10-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed's scramble to hike rates and lower liquidity is draining the stock market, Barry Sternlicht warned. "So you thought the healthy fish would survive and the sick fish would die. But the Fed is draining the entire pond, so everyone's going to die." … So you thought the healthy fish would survive and the sick fish would die. But the Fed is draining the entire pond, so everyone's going to die," he said.

☆ Prices are set to fall for homes, cars, and furniture. It's a sign the Fed may not need to risk a recession that punishes job seekers.
▼ + stars: | 2022-09-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some economists say that means the Federal Reserve doesn't need to squash jobs to cool inflation. Cooling prices might provide less reason for the Federal Reserve to continue its bold campaign to raise interest rates and slow the economy. It did just that on Wednesday, increasing interest rates by another 0.75% to make borrowing more expensive and squash demand. "Will raising interest rates lead to more oil, lower prices of oil, more food, lower prices of food?" "The real worry in my mind is," he added, "will they increase interest rates too high, too fast, too far?"

☆ Walmart's secretive fintech ONE is the new disruptor in consumer banking, and the retailer has nabbed talent from Wall Street mainstays like Goldman Sachs.
▼ + stars: | 2022-09-20 | by ( Aaron Weinman | ) www.businessinsider.com time to read: +5 min

In January last year, the retailer said it was pursuing a partnership with venture-capital firm Ribbit Capital, which backed Robinhood. The next month, Walmart lured Omer Ismail and David Stark, two executives from Goldman Sachs' Marcus, over to work on a fintech initiative. Insider's Ann Gehan, Carter Johnson, and Ben Tobin have identified the key people shaping this effort at its fintech called ONE. Done deals :Acrisure, a fintech company that operates an insurance broker and real-estate services company, has acquired B2Z Insurance. Aditxt, a biotech company developing tech around monitoring the immune system, raised $20 million after selling 3.33 million shares on Nasdaq.

☆ A married couple with a 47-unit real estate portfolio worth $19 million share the top 4 books that got them started on the path to building wealth
▼ + stars: | 2022-09-18 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Today, Kenny Simpson and Krystle Moore have amassed a $19 million, 47-unit real estate portfolio. They share their four top book recommendations to help aspiring real estate investors. These cover wealth building, money-saving tax strategies, negotiating, and deal making. Before Kenny Simpson and Krystle Moore met in late 2008, both had previously harbored separate real estate investing ambitions. "If you're thinking about getting into real estate, you need to read 'Rich Dad Poor Dad.'"

☆ 55 Of The Most Serious Tennis Players In Finance
▼ + stars: | 2014-08-31 | by ( Julia La Roche | ) www.businessinsider.com time to read: +1 min

Getty ImagesThe competitive nature of playing a sport has helped a lot of folks succeed on Wall Street. Wall Street is littered with top tennis players. That's because many of the tennis players on Wall Street know each other very well and feel comfortable doing business together. What's more, a bunch of the younger players met their employers on the court, and certain firms just love tennis players in general. In short, the tennis court is great place for networking in general.

Search resuls for: "Barry Sternlicht"

15 mentions found