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☆ How Bombardier is cashing in on business elite's love affair with private jet travel
▼ + stars: | 2024-04-12 | by ( Bob Woods | ) www.cnbc.com time to read: +5 min

They immediately established an ambitious, five-year strategic plan to reposition Bombardier, with a focus squarely on its sturdiest leg: the high-flying business jet and ancillary services industry. Deliveries of business and general aviation aircraft last year topped 4,000 for the first time in more than a decade, the General Aviation Manufacturers Association reported in February. Historically, the business jet market has been cyclical, said Noah Poponak, an analyst for Goldman Sachs, "but it's been hyper-cyclical in the past 20 years." Sales of all business jets were healthy leading into 2020 — and then the Covid pandemic hit. Everyone wanted a business jet and was willing to buy whatever was out there, new or used."

Persons: headwinds, Bombardier's, Alain Bellemare, divesting, Éric Martel, Bart Demosky, Demosky, Warren Buffett's Berkshire Hathaway, CFOs, Noah Poponak, Goldman Sachs, Walter Spracklin, Spracklin Organizations: Bombardier, Boeing, Airbus, General Aviation Manufacturers Association, Challenger, Global, Companies, Honeywell, RBC Capital Markets Locations: Montreal, Warren, Covid

☆ Airbnb wants to help renters, and not just homeowners, share their space for cash
▼ + stars: | 2024-04-12 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +4 min

CNN —Airbnb wants more renters, and not just homeowners, to be able to become hosts on its short-term rental platform. New York City, for example, has argued that short-term rental platforms like Airbnb limit available housing supply, leading to overall higher rents, and that they can be disruptive to neighborhoods. “A lot of the early laws that were made limited short-term rental to homeownership,” Theo Yedinsky, the vice president of public policy at Airbnb, told CNN. These renters, however, will still have to get permission from their landlord to host on Airbnb (Airbnb has no involvement in individual lease agreements between property owners and tenants). And many major cities, including New York, are increasingly cracking down and heavily restricting the short-term rental market.

Persons: CNN — Airbnb, ” Theo Yedinsky, Yedinsky, Airbnb, couldn’t, “, ”, Brian Chesky, Joe Gebbia, Glenn Youngkin, ” Yedinsky, Rahul Bhaskar, Bhaskar, ” Bhaskar Organizations: CNN, Gov Locations: New York City, San Francisco, Virginia, New York, India

☆ New York City Is Closer to Getting Its First Soccer Stadium
▼ + stars: | 2024-04-11 | by ( David Waldstein | ) www.nytimes.com time to read: +1 min

The New York City Council voted overwhelmingly on Thursday to approve construction of a 25,000-seat, privately financed soccer stadium at Willets Point in Queens, to house the New York City Football Club. The proposed stadium would be built across Seaver Way from Citi Field, where the New York Mets play. In the first phase of redevelopment, the site would include approximately 1,400 units of “permanently affordable housing,” a hotel and 80,000 square feet of retail space, according to the legislation approved Thursday. It would also include 2.8 acres of publicly accessible open space. Under the proposal, the city would retain the land, which has for decades been known as the “Iron Triangle” for its ramshackle collection of automobile repair facilities, and lease it to the club, similar to agreements with other stadiums in New York.

Organizations: New, New York City Football Club, Citi Field, New York Mets Locations: New York, Queens, Seaver

☆ Can China's Comac break up the Airbus-Boeing duopoly?
▼ + stars: | 2024-04-10 | by ( Nessa Anwar | ) www.cnbc.com time to read: +2 min

China is on a mission to break up the Airbus -Boeing duopoly and it hopes the domestically made Comac C919 will be its first big break into foreign markets. Made by the Commercial Aircraft Corporation of China (Comac), the passenger aircraft has been touted as the "dream of a nation" by Chinese President Xi Jinping. However, there are still several hurdles Comac would need to clear before it could take on the French and American aerospace giants' dominance. "As a customer and operator of China's Comac products, we can get financial support from China's import-export bank, and also central banks," Cham told CNBC in an interview. According to Cham, Comac said it would consider creating aircraft maintenance, repair and overhaul support for its aircraft in Brunei.

Persons: Xi Jinping, Cham, Comac, Adam Cowburn, Cowburn, Brendan Sobie, It's, Brendan Organizations: Airbus, Boeing, Commercial Aircraft Corporation of China, Cham Chi, CNBC, Alton Aviation Consultancy, " Industry, Sobie Aviation, Airlines Locations: China, American, Brunei, Cham, Shanghai

☆ Inside the Fight Over Software That Tells Landlords to Hike Your Rent
▼ + stars: | 2024-04-10 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

Rents soared thanks to a shortage of apartment units, remote workers' desire for more space, and a daunting for-sale market that kept many renters stuck in place. Without RealPage, the plaintiffs argue, landlords would be hesitant to jack up rents; instead, they'd focus on keeping their buildings full. In short, the lawsuits that started with apartment rents could one day change how we pay for everything. By turning over pricing to the algorithm, plaintiffs say, RealPage's clients are encouraged to push rents higher than if they'd left the decisions up to humans. The RealPage cases are about far more than apartment rents.

Persons: RealPage, Kris Mayes, they'll, they'd, —, Zillow, there's, Marie Claire Tran, Leung, Tran, Matt Damon, Maureen Ohlhausen, Bob, Ohlhausen, Ed Rogers, Ballard Spahr, Jeffery Cross, Smith Gambrell Russell, didn't, it'll Organizations: Revenue Management, ProPublica, National Housing Law, FBI, RealPage, Department, Federal Trade Commission, Politico, Washington, Justice Department, FTC Locations: Texas, you've, Phoenix, Tucson, Washington, DC, RealPage, Arizona, Tennessee

☆ Landlords Use a Popular Software Tool to Jack up Apartment, Home Rents
▼ + stars: | 2024-04-10 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

☆ After 2 years of applying for the NYC housing lottery, she finally won her bid. Now she pays $1,000 in rent for her Manhattan apartment.
▼ + stars: | 2024-04-10 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

A millennial woman won the New York City affordable housing lottery after applying for two years. Nkenge Brown, 30, now pays around $1,000 in monthly rent for her one-bedroom Manhattan apartment. AdvertisementNkenge Brown first heard about the New York City housing lottery system four years ago while she was at work. "Someone told me that they won a lottery apartment, and I was like, 'What's that?'" In 2018, the odds of winning the housing lottery were 1 in 592, per the Times.

Persons: Nkenge Brown, she's, —, Brown, " Brown, Nkenge Brown Nkenge Brown, that's, Nkenge, it'll, cafés, Nkenge Brown Brown, she'd, I've, There's Organizations: New, Service, New York City Department of Housing Preservation, Housing Development Corporation, New York Times, Times Locations: New York City, Manhattan, Upper Manhattan, Chelsea, Paris

☆ Spirit Airlines will defer Airbus orders, furlough 260 pilots in race to shore up liquidity
▼ + stars: | 2024-04-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Spirit Airlines said Monday that it will defer deliveries of new Airbus planes and that it plans to furlough about 260 pilots as it tries to boost liquidity. Spirit said it will defer all Airbus planes it has on order that were scheduled to be delivered from the second quarter of 2025 through the end of 2026. The budget airline said the deferrals would boost its liquidity by about $340 million over the next two years. United Airlines pilots' union last month said the company is offering unpaid time off for pilots next month because of late-arriving planes from Boeing . The Air Line Pilots Association, Spirit pilots' union, said Monday it is exploring voluntary measures that could limit the number of pilot furloughs.

Persons: Ted Christie, Christie, Pratt, Spirit, Whitney, Ryan Muller Organizations: Spirit Airlines, Airbus, Pratt & Whitney, JetBlue Airways, Whitney, Association of, United Airlines, Boeing, Air Line Pilots Association, Spirit Locations: Miramar , Florida, City , New Jersey

☆ San Quentin State Prison: Running provides a new lease of life for inmates
▼ + stars: | 2024-04-08 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +8 min

Set up in 2005, San Quentin’s running club meets regularly and is run entirely by volunteer coaches from Marin County’s Tamalpa Running Club, who come from outside the facility to share their expertize and time with aspiring runners in the prison. For the most part, it’s poverty mixed with a lack of opportunity,” Thomas tells CNN Sport. “It hurt me inside because he was more like a mentor to me,” Taylor tells CNN Sport. That helped me in my recovery and transformation in my life,” Taylor, known as “Markelle the Gazelle” because of his athletic prowess, explains. “But there’s two million people in prison,” Thomas adds.

Persons: Rahsaan Thomas wasn’t, Thomas, “, ”, , Johnny Cash, Marin County’s, ” Thomas, you’re, Thomas ’, Christine Yoo, Diana Fitzpatrick, ” Fitzpatrick, Jim Maloney, Maloney, Markelle Taylor, Kevin Rumon, we’re, ” Taylor, Taylor, Gavin Newsom, podcaster Organizations: CNN, San, Prison, CNN Sport, ESPN, Initiative, Black, Federal Bureau of Prisons ., San Quentin Marathon, Boston Marathon, New York City Marathon Locations: San Quentin, Quentin’s, White

☆ 43-year-old started a side hustle in college with $150—now it brings in $200 million a year: It took 'everything that I had'
▼ + stars: | 2024-04-05 | by ( Tom Huddleston Jr. Lauren Shamo | Tom Huddleston Jr. | Lauren Shamo | ) www.cnbc.com time to read: +5 min

By the time he graduated in 2004, Berkowitz signed a lease to open Insomnia's first brick-and-mortar location, near another college campus in Syracuse, New York. Now, with Krispy Kreme looking to sell Insomnia, Berkowitz says he's "grateful for the journey." Seth Berkowitz estimates he spent roughly $150 on baking ingredients to start Insomnia Cookies. "2009 and 2010 [were] some of the hardest years ever at Insomnia Cookies," says Berkowitz, adding: "There wasn't anyone else to do it. 'Insomnia Cookies is a perseverance story'

Persons: Seth Berkowitz, Krispy, " Berkowitz, Berkowitz, he's, Grubhub, Uber, —, Jared Barnett —, Barnett Organizations: CNBC, University of Pennsylvania, Syracuse , New York ., College Park , Locations: Syracuse , New York, Champaign , Illinois, College Park , Maryland, Syracuse, New York, Philadelphia

☆ I could have made $2,100 cashing in on solar eclipse tourism—why I chose not to, from a U.S. retiree in Mazatlán, Mexico
▼ + stars: | 2024-04-04 | by ( Janet Blaser | ) www.cnbc.com time to read: +4 min

She moved away in advance of the April 8 total solar eclipse. The resort town of Mazatlán, Mexico — where I lived from 2006 until last month — is one of the best spots to witness the total solar eclipse on April 8. A chance to make $300 a night for a weekRumors started circulating roughly three years ago about people renting their places for inflated prices during the eclipse week. One local friend's family charged up to four times the regular rates for their 10 vacation rental condos for the eclipse week. They told me they were offered $400 a night for the eclipse week.

Persons: Janet Blaser, Mazatlán, Eric, Jenna Streit, Eric said, Ashley, Williams, I'd, it's, San Antonio Tlayacapan, pang, Lisa Shoop Organizations: Tourism, Centro Historico, Los Muertos Locations: Mazatlán, Mexico, American, Austin , Texas, Sinaloa, Los Angeles, Covid, Airbnb, Los, San Antonio, Guadalajara, San

☆ Inside Y Combinator's 60,000-square-foot, San Francisco college town
▼ + stars: | 2024-04-03 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

The full-blown mania in artificial intelligence is bringing tech workers and startups back to San Francisco. Last June, the startup accelerator moved its headquarters from Mountain View into its new digs at the Pier 70 shipyard. Y Combinator partners record an episode of the Lightcone podcast in a production studio complete with professional cameras and lighting fixtures. Y CombinatorRemoving 'friction'For 17 years, Y Combinator set its base in Mountain View. The new San Francisco outpost was born from a desire to get founders in person again post-pandemic.

Persons: —, Jared Friedman, hasn't, Y Combinator Friedman, Y, Friedman, Carlos Avila Gonzalez, Bart, Lindsay Amos Organizations: Service, Volkswagen, Business, Chase, San, Rail, San Francisco Chronicle, Bay Area, YC Locations: San Francisco, Mountain View, San, bayside, View, Mission Bay, Bay, North Beach

☆ I was a renter. Then I bought my house from my landlord.
▼ + stars: | 2024-04-02 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +10 min

About four years ago, when my landlord bought the property, I was his very first tenant. Before the pandemic, I had been in the market for quite a long time looking to buy a house. When I signed that first rental lease with my landlord in May 2020, I completely pulled myself out of the market. After being bummed about that, a few days later my landlord texted me saying, "Hey, I'm putting this house on the market. He shared with me that he bought his own place and that he was no longer going to be living in that house.

Persons: Dom Guerra, —, There's, Guerra, Selena Tovanche, — I'm, you've, It's Organizations: Service, Ohio Housing Finance Agency Locations: Cleveland, Parma , Ohio

☆ I paid just $135,000 for my house when homes in the area are going for twice that. Here's how.
▼ + stars: | 2024-03-31 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +8 min

The couple paid less than usual for the area by going through a community land trust, or CLT. Community land trusts allow low-income homebuyers to purchase homes at a reduced price in exchange for the trust's retaining ownership of the property's land. Community land trusts were an unfamiliar conceptI learned about community land trusts while driving through a neighborhood. It's a community housing organization that offers homebuyer education and also sells affordable homes through a community land trust program. Our lives are much betterWhen buying a land trust home, not only do you have to qualify for the land trust program, but you also have to qualify for a mortgage at the bank.

Persons: Melisa Gomez, Romo, —, It's, Gomez, we're Organizations: Service, Romo, Land Trust Locations: Duluth , Minnesota, Minnesotans, Duluth, Fayetteville , Arkansas, . Duluth, El Salvador, Mexican

☆ The 4% mortgage rate and other sweet offers from lenders hoping to stave off commercial real estate doom
▼ + stars: | 2024-03-27 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Instead a deal is now being negotiated to trim the size of the property's $240 million mortgage and potentially extend the loan at below-market interest rates in an attempt to revive the property's fortunes. The negotiations show that as hundreds of billions of dollars of commercial real estate debts come due or have already tumbled into default, deals are being arranged behind the scenes to try to stave off financial catastrophe. More borrowers and lenders have sought to buy timeThere is mounting evidence that such negotiations are taking place more widely. There have been concerns that trillions of dollars of upcoming commercial property debt maturities could inflict heavy losses that could weigh on investors and lenders across the property market and even cause systemic issues in the banking sector. The deal is part of a growing number of sales by some lenders to cut down their exposure to commercial real estate.

Persons: Realty, Michael Maturo, we'd, Maturo, Jack Terzi, Terzi, Jamie Woodwell, Stephen Buschbom, Trepp, Alan Todd, David Blumberg, Raymond Boyd, Blumberg, Robert Ivanhoe, Greenberg Traurig, Ivanhoe Organizations: New, Aareal Bank, Business, JTRE Holdings, Mortgage Bankers Association, Treasury Department, Bank of America, 601W Companies, Aon, Aon Center, Federal Reserve Locations: New York, Lower Manhattan, Manhattan, New York City, Chicago

☆ Leaked document shows Amazon expects to save $1.3 billion by slashing office vacancies and terminating leases early
▼ + stars: | 2024-03-27 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

Read previewAmazon expects to save roughly $1.3 billion in coming years by radically reducing office vacancies, according to a person familiar with the matter and an internal document obtained by Business Insider. The company's office-vacancy rate of almost 34% results from slower growth and layoffs, the person familiar told BI. Related storiesIn an email to BI, Brad Glasser, a spokesperson for Amazon, said it's a normal business practice to review the company's real-estate portfolio. AdvertisementThe person familiar with the matter also noted that so-called "hibernations" can help reduce office costs for Amazon. Internally, Amazon is aware of how last year's RTO policy caused confusion and frustration among some employees, people familiar with the plans told BI.

Persons: —, Fitch, Brad Glasser, Glasser, Andy Jassy Organizations: Service, Business, Google, Amazon, Alexa

☆ Mike Lindell's MyPillow is getting evicted from its Minnesota warehouse after the company failed to cough up over $200,000 in unpaid rent
▼ + stars: | 2024-03-27 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

The embattled businessman is now facing eviction for one of his warehouses in Minnesota. Lindell's company owes more than $217,000 in rent to its landlord, per the Star Tribune. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMike Lindell's MyPillow is getting evicted from one of its Minnesota warehouses, the Star Tribune, a local Minnesota newspaper, reported on Tuesday.

Persons: Mike Lindell, —, Mike Lindell's MyPillow, MyPillow, Sara Filo, Filo Organizations: Star Tribune, Service Locations: Minnesota

☆ Forget Nvidia: Here are four stocks one investor is betting on instead
▼ + stars: | 2024-03-26 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +6 min

Instead, the veteran wealth manager is now looking for stocks in growth sectors that look "reasonably valued." He said the pharmaceutical, real estate, energy and financial sectors were on his radar, and named four stocks that stand out. Pfizer Pharmaceutical company Pfizer — well known for its Covid-19 vaccine — is betting on cancer drugs , following its $43 billion acquisition of Seagen last year . Over the last 12 months, shares of Comerica are up around 28%, although they are down 7.5% year-to-date. According to Factset data, analysts' average price target on the stock is $59.45, giving it around 15% potential upside.

Persons: David Dietze, Dietze, —, Schlumberger —, Dietze's, SLB Organizations: Nvidia, Wealth Management, Pfizer Pharmaceutical, Pfizer, CNBC Pro, Schlumberger, Comerica Locations: Seagen, U.S, SLB, Canada

☆ 'We need someone to fix Boeing.' Here's who could replace Calhoun as the troubled plane maker's CEO
▼ + stars: | 2024-03-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Calhoun told CNBC on Monday that the decision to retire was "100%" his own and that he would be involved in finding his successor. "We need someone to fix Boeing," one major airline executive, who wasn't authorized to speak to the media, told CNBC after Boeing announced the management shake-up Monday. "I want somebody who knows how to handle a big, long-cycled business like ours," Calhoun told CNBC in an interview Monday while announcing his departure. Four-year Boeing board member Steve Mollenkopf, an ex-Qualcomm CEO who will take over as independent chairman of the board, will lead the search.

Persons: Dave Calhoun, Max, Larry Kellner, Stan Deal, Calhoun, wasn't, John Plueger, It's, Steve Mollenkopf, Cowen, Cai von Rumohr, here's Organizations: Boeing, Max, Boeing Factory, Monday, CNBC, Air Force One, Alaska Airlines, Air Lease, Airbus, Financial, Qualcomm Locations: Renton , Washington, China

☆ Squatters took over a Beverly Hills mansion worth millions for 5 months
▼ + stars: | 2024-03-26 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

Squatters who took over a Beverly Hills mansion for five months seemed to take the saying literally. The squatters made money off of the home by hosting parties with entrance fees from $500 to $1,500, Curbed reported. According to Curbed, Yamout purchased the home in 2021 from Notre Dame Properties, which is allegedly "controlled" by Uwaydah. AdvertisementYamout took legal action against the squatters, filing an unlawful detainer lawsuit to evict them, Curbed reported. Gargiulo told Curbed that he has no regrets about living in the mansion or the headaches he brought the residents of Beverly Grove Place.

Persons: —, Morgan Gargiulo —, Gargiulo, John A, Woodward IV, LeBron James, Jennifer Lopez, Ben Affleck, Woodward, didn't, he'd, Adel Yamout, Yamout, Damon Dash, Munir Uwaydah, Michael, Harry, Harris, Donald Trump, I've Organizations: Service, Beverly Hills, Beverly, Los Angeles, Row Records, Notre Dame Properties, Uwaydah, Business Locations: Los, Los Angeles, Beverly, Beverly Hills, Beverly Grove, Woodward, California

☆ 'America's greatest gift to Israel'
▼ + stars: | 2024-03-24 | by ( David Kushner | ) www.businessinsider.com time to read: +35 min

As the country's founder and first prime minister, David Ben-Gurion, once declared, "America's greatest gift to Israel was Al Schwimmer." Joining the Haganah, Schwimmer discovered, wasn't as easy as just strolling through the door. "He felt he had to do his part in creating a Jewish state, so this could never happen again," Schwimmer recalled. Rather than melt down the surplus weapons for scrap, Liff told Greenspun to take as much as he wanted — free of charge. In 2001, at the urging of Brian Greenspun, Schwimmer received a presidential pardon from Bill Clinton.

Persons: Danny Schwimmer, They'd, Rina, Al —, David Ben, Gurion, Al Schwimmer, Schwimmer, Bugsy Siegel's, Meyer Lansky, Frank Sinatra, Sinatra, —, Boaz Dvir, Israel —, Danny, Al, I've, Hank Greenspun, Greenspun, Brian, Adolph, Dick Tracy, " Schwimmer, Wing Walker, America, Yehuda Arazi, Arazi, they'd, Schwimmer's, Sam Lewis, Leo Gardner, Milton, Milt, Rubenfeld, Paul Reubens, Herman, Reubens, Bugsy Siegel, Siegel, — Schwimmer, Nathan Liff, Liff, PhotoQuest, Bernarr McFadden, Pat, Ptacek, Rafael Trujillo, Teddy Kollek, Erwin Johnson, Bill Gerson, Gerson, Bud King, Gerson's, Ben, Joel Kimmel, Lewis, Lansky, hadn't, Tommy, Messerschmitts, David, Milt Rubenfeld, Israel, Charlie Winters, Winters, weren't, aren't, America's, Joseph McCarthy, John F, Kennedy, Brian Greenspun, Golda Meir, Bill Clinton Organizations: Israeli Air Force, TWA, Haganah, United Nations, Lockheed Air, Los Angeles Examiner, USC, Getty, US Naval, Schwimmer Aviation, FBI, UN, Customs Service, Palestine . Volunteers, Embassy, Israel, Service Airways, State Department, BI, Pepsi, Zionist, Nazi, Star, American, Avia, Messerschmitt, Pennsylvania State University who's, Las, Sun, Israel Aerospace Industries, IAI, they're, Israeli Locations: Tel Aviv, Israel, Connecticut, Palestine, New York, Copacabana, United States, Hungary, Auschwitz, storages, Arizona, Bridgeport, Rome, Burbank , California, Burbank, Las Vegas, Hawaii, Oahu, Santa Claus, California, Washington, Burbank ., Acapulco, Mexico, it's, Mexico City, Central, South America, Dominican Republic, China, America, Mexican, Panama, Panamanian, Corsica, Oklahoma, Detroit, Suriname, Brazil, Senegal, Casablanca, Sicily, Catania, Europe, Czechoslovakia, Czech, Egypt, Cairo, Los Angeles, American, Gaza, Iran

☆ An Arms Smugger, a Daring Heist, and the Birth of Israel
▼ + stars: | 2024-03-24 | by ( David Kushner | ) www.businessinsider.com time to read: +35 min

Joining the Haganah, Schwimmer discovered, wasn't as easy as just strolling through the door. "He felt he had to do his part in creating a Jewish state, so this could never happen again," Schwimmer recalled. Rather than melt down the surplus weapons for scrap, Liff told Greenspun to take as much as he wanted — free of charge. "It went against the grain to buck the same government we had fought to preserve only a few years before," Hank Greenspun recalled. In 2001, at the urging of Brian Greenspun, Schwimmer received a presidential pardon from Bill Clinton.

☆ Peter G. Angelos, Owner of the Baltimore Orioles, Dies at 94
▼ + stars: | 2024-03-23 | by ( Emmett Lindner | ) www.nytimes.com time to read: 1 min

Peter G. Angelos, the longtime owner of the Baltimore Orioles who built a fortune as a class-action lawyer, died on Saturday. His death was confirmed in a statement from his family that was posted on the team’s social media account, which said that Mr. Angelos had “passed away quietly.” No cause was given, though the statement acknowledged that he had been ill for several years. Mr. Angelos’s death came as his family awaited approval by Major League Baseball owners to sell the team — valued, along with its assets, at $1.725 billion, according to The Baltimore Sun — to David Rubenstein, the president of Inner Harbor Sports. The sale was approved on March 20 by the Maryland Stadium Authority board, which was required under the terms of the team’s lease for ownership to be transferred.

Persons: Peter G, Angelos, Mr, “, Angelos’s, Baltimore Sun —, David Rubenstein Organizations: Baltimore Orioles, Major League Baseball, Baltimore Sun, Inner Harbor Sports, Maryland Stadium Authority

☆ Employees are building 'F-you funds' before quitting their jobs. Here's what it means and how to build one.
▼ + stars: | 2024-03-23 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

Souffrant set out to save enough so they could cover one year's worth of expenses between Woody's salary and her savings. How to build your own 'F you fund' in 2 stepsAnyone can start an "F you fund" like Soufrrant and Shah did to create more options for themselves. Souffrant kept hers in a high-yield savings account. That way, the money was still accessible but earning more interest than it would if it was sitting in a traditional savings account. If your number is $200 per month, have that amount lifted from your checking account and deposited into your "F you account" each month.

Persons: Jamila Souffrant, Souffrant, Nischa Shah, Nischa Shah Nischa Shah, it's, Shah, Woody Organizations: Business, America, Investment

☆ Going once, going twice: How Trump's cash and properties would be garnished and auctioned to pay his NY fraud debt
▼ + stars: | 2024-03-23 | by ( Laura Italiano | ) www.businessinsider.com time to read: +10 min

AG Letitia James plans to go after Trump's cash and property if he doesn't pay his civil fraud debt. Is the ball in Letitia James' court? "The burden is on Letitia James to find Trump's assets" and decide what she wants garnished or auctioned, he said. D'Orazio predicts James would first target the cash that Trump and the Trump Organization keep in New York-registered bank accounts. He would then remit $95 million to the Attorney General's Office, and that would go toward paying Trump's judgment.

Persons: Letitia James, —, padlocks, Donald Trump's, Trump, James, Bernard D'Orazio, D'Orazio, — James, Mark, we're, doesn't, It's, she'll, Arthur Engoron, Jeff Greenberg, — Trump Organizations: Service, Trump, Trump Plaza, New, Social, Trump —, GOP, AP, Trump Organization, Radio City Music Hall, Forbes, New York, Fire Locations: New York, New York City, Manhattan, New, Westchester County, Trump, Americas

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