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☆ Ann Lurie, Nurse Who Became a Prominent Philanthropist, Is Dead at 79
▼ + stars: | 2024-06-29 | by ( Alex Williams | ) www.nytimes.com time to read: +1 min

Ann Lurie, a self-described hippie who went on to become one of Chicago’s most celebrated philanthropists, in one instance giving more than $100 million to a hospital where she had once worked as a pediatric nurse, died on Monday. Her death was announced in a statement by Northwestern University, to which Ms. Lurie, a trustee, had donated more than $60 million. An only child raised in Miami by a single mother, Ms. Lurie protested the Vietnam War while in college and planned to join the Peace Corps after she graduated. In interviews, she said she chafed at the trappings of wealth even after marrying Robert H. Lurie. Mr. Lurie held stakes in the Chicago Bulls and the Chicago White Sox.

Persons: Ann Lurie, Lurie, Robert H, Mr, Sam Zell Organizations: Northwestern University, Peace Corps, Equity Group Investments, University of Michigan, The Chicago Tribune, Los Angeles Times, Chicago Cubs, Chicago Bulls, Chicago White Sox Locations: Miami, Vietnam

The Tesla (TSLA.O) CEO told advertisers who have fled his social media platform X over antisemitic content to "Go fuck yourself!" Several business communications analysts said they couldn't remember a similar case of an executive publicly cursing at their customers. Musk, Tesla and X did not respond to requests for comment. Musk apologized for it and then cursed and dismissed the concerns of the advertisers fleeing the platform. Cappelli said Musk wishes to see himself as a rock star, not a business leader who needs to take account of many constituencies.

Persons: Elon Musk, Porte, Gonzalo Fuentes, It's, Andy Challenger, Challenger, Michael O'Leary, Jim Hagedorn, Sam Zell, Musk, Yehuda Baruch, Baruch, Peter Cappelli, Cappelli, Ross Kerber, Lisa Shumaker Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Ryanair, Boeing, Scotts Miracle, University of Southampton, University of Pennsylvania's Wharton School, Thomson Locations: Paris, France

☆ The Pumpkin Spice Latte Will Outlive Us All
▼ + stars: | 2023-09-25 | by ( Ella Quittner | ) www.nytimes.com time to read: 1 min

On a nearly 90-degree September morning, Verena Adelsberger held her first pumpkin spice latte in a downtown Manhattan Starbucks. It wasn’t just her first of the season. Ms. Adelsberger, 25, who was visiting the United States from Zell am See, Austria, was moved to try the pumpkin spice latte, often called the P.S.L., after seeing it celebrated online for years. She took a sip of it, which she ordered as a Frappuccino, and grinned. “It’s very sweet.”She rated it a seven out of 10, and then she left to catch the ferry to an equally classic piece of American culture: the Statue of Liberty.

Persons: Verena Adelsberger, Adelsberger, “ Locations: Manhattan, United States, Zell, Austria, of

☆ A new class of executives on Wall Street is gaining a ton of power
▼ + stars: | 2023-05-19 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

I still need questions for a future mailbag. As Wall Street grapples with how to deploy AI, the executives overseeing the tech are rising in prominence. Bianca mapped out the 12 executives leading AI strategy at Bank of America, Citigroup, Goldman Sachs, JPMorgan, Morgan Stanley, and Wells Fargo. Meet the 12 executives leading the AI strategy at the biggest US banks. The bank run on Silicon Valley Bank, which was helped along by social media, has bank executives reconsidering their online presence, Reuters reports.

☆ Legendary Real-Estate Investor Sam Zell Dies
▼ + stars: | 2023-05-18 | by ( Colin Kellaher | ) www.wsj.com time to read: 1 min

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☆ Billionaire real estate investor Sam Zell dies at 81
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: 1 min

May 18 (Reuters) - Billionaire real estate investor Sam Zell has died at the age of 81, according to a statement from Equity Residential (EQR.N), the real estate investment trust (REIT) he chaired. Known for his bet on distressed assets and for popularizing the REIT structure in the 1990s, Zell founded the company that was a precursor to Equity Residential and took it public in 1993. He also invested in manufacturing, travel, retail, healthcare and energy businesses, Equity Residential said. He had a net worth of $5.2 billion, according to Forbes. Reporting by Niket Nishant in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

☆ Sam Zell, Legendary Real-Estate Investor, Dies at 81
▼ + stars: | 2023-05-18 | by ( Tali Arbel | Peter Grant | ) www.wsj.com time to read: 1 min

Sam Zell — the legendary, outspoken real-estate tycoon and self-made billionaire who founded a property empire — has died, his company announced on Thursday. Zell was 81. This story is developing. Please check back for updates.

☆ Sam Zell, billionaire real estate investor, dead at 81
▼ + stars: | 2023-05-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

Equity Residential, the company he founded decades ago, did not provide a cause of death but described Zell as an “iconic figure in real estate and throughout the corporate world.”Among his wide-ranging portfolio of investments were distressed assets in real estate and in media, including an ultimately disastrous bet on the Tribune Company. Zell had a personal net worth of $5.9 billion, according to the Bloomberg Billionaires Index. Zell had a penchant for scooping up cheap real estate and selling it later at a profit, a strategy he outlined in a 1978 article titled “The Grave Dancer,” which became his nickname in the industry. But Zell’s impressive track record of successful bets was marred by a brief, unsuccessful foray into media in 2007 when he orchestrated the $8.2 billion leveraged buyout of Tribune Company. In 2018, during the rise of the #MeToo movement, Zell sparked outrage by making a lewd comment about hiring women.

☆ Sam Zell, billionaire real estate investor, dies
▼ + stars: | 2023-05-18 | by ( ) www.cnbc.com time to read: +4 min

He had a golden touch with real estate, and got his start managing apartment buildings as a college student. His father was a wholesale jeweler who dabbled successfully in real estate investment and the stock market. His first successes in real estate came while he was a student at the University of Michigan. After the savings and loan crisis of the 1980s, Zell went on a buying spree of real estate properties. He also encouraged institutional investors to pool their money for commercial real estate in the early '90s when it was on the outs.

☆ Sam Zell, billionaire real estate investor, dies at 81
▼ + stars: | 2023-05-18 | by ( Niket Nishant | ) www.reuters.com time to read: +2 min

[1/3] Sam Zell, Chairman of Equity Group Investments, speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2017. Born in 1941 to Polish parents who escaped to the United States during the German invasion of Poland, Zell took a deep interest in real estate very early on. Besides real estate, his firm also invested in manufacturing, travel, retail, healthcare and energy businesses. Zell played a key role in popularizing the structure of real estate investment trusts (REITs) that involved leasing and collecting rent on properties and distributing profit to investors as dividend in the 1990s. It was later sold to asset management giant Blackstone Inc (BX.N) for $39 billion in one of the largest real estate deals ever.

☆ Sam Zell, 81, Tycoon Whose Big Newspaper Venture Went Bust, Dies
▼ + stars: | 2023-05-18 | by ( Robert D. Mcfadden | ) www.nytimes.com time to read: +2 min

Nevertheless, in 2007, the Blackstone Group bought Mr. Zell’s firm — then known as Equity Office Properties Trust — for $39 billion. A Deal Comes With DebtLike many newspapers, the Tribune properties were hemorrhaging advertising revenues and readers to the internet. The company had been on the auction block for months when Mr. Zell — insisting that his interests were purely economic, not editorial — offered $34 a share in a complex transaction to take the company private under an employee stock-ownership plan. In that highly leveraged buyout, the debt was to be paid off almost entirely by cash generated by the company’s continuing operations. The new corporation was exempt from federal income taxes, and the debt was reduced by the sale of Newsday, the Cubs and Wrigley Field.

☆ Jamie Dimon's 'tone deaf' return to office mandate is getting pushback from JPMorgan staffers, who are complaining about being stuck on Zoom calls even while in the office: Reuters
▼ + stars: | 2023-04-28 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

JPMorgan is now mandating all managing directors work from the office five days a week. But that rubbed some workers the wrong way, who vented on an internal messaging system, per Reuters. They griped about being stuck in virtual meetings despite being in the office, long commutes, and family responsibilities. In the same video, Clarke even lauded one employee's work ethic who he said "sold their family dog" to improve work performance. Read the JPMorgan return to office memo in full here.

☆ Remote work is 'bullshit,' says real-estate billionaire Sam Zell, to cheers from fellow execs who profit from offices
▼ + stars: | 2023-04-23 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

Sam Zell said at a conference last week that remote work is "a bunch of bullshit." Office doomers abound, but real estate professionals t hink they just don't get it. Sam Zell, the notorious "Grave Dancer" of commercial real estate known for his salty tongue, is always happy to have a platform. He was in a cheeky mood, at least when the conversation turned to today's third-rail of commercial real estate: office properties abandoned by remote workers. The trend and dire outlook had real estate giant Brookfield defaulting on a loan tied to offices this month for the second time this year.

☆ I think the Fed screwed up, says billionaire investor Sam Zell
▼ + stars: | 2023-02-15 | 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 EmailI think the Fed screwed up, says billionaire investor Sam ZellSam Zell, Equity Group Investments founder and chairman, joins 'Closing Bell' to discuss whether a recession is on the horizon, the Federal Reserve’s move to combat inflation and more.

☆ Watch CNBC's full interview with Equity Group Investments' Sam Zell
▼ + stars: | 2023-02-15 | 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 EmailWatch CNBC's full interview with Equity Group Investments' Sam ZellSam Zell, Equity Group Investments founder and chairman, joins 'Closing Bell' to discuss whether a recession is on the horizon, the Federal Reserve’s move to combat inflation, and more.

☆ Billionaire real estate investor Sam Zell says don't take too much comfort in declining mortgage costs, and the Fed will keep hiking rates close to 6%
▼ + stars: | 2022-12-09 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

The Fed will need to rate interest rates closer to 6% to meaningfully ease inflationary pressures, said legendary property investor Sam Zell. A "shocking event" was mortgage rates more than doubling this year, the billionaire told Fox Business. The average 30-year fixed mortgage rate hit a 21-year high of 7.16% in late October, according to the Mortgage Bankers Association. "In a very, very short period of time … less than 90 days, mortgage rates doubled. I wouldn't take too much comfort from the fact that mortgage rates have come down."

☆ Brace for a stagflationary crisis that the Fed and other policymakers will be powerless to prevent, Nouriel Roubini warns
▼ + stars: | 2022-12-06 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The 'Dr Doom' economist warned that 'the mother of all stagflationary debt crises' is coming. "The mother of all stagflationary debt crises can be postponed, not avoided," Roubini wrote in a Project Syndicate op-ed published Friday. But it's no longer possible for the Fed and other policymakers to support those debt-laden entities by slashing interest rates, as inflation remains close to multidecade highs in most developed markets. Read more: Brace for the Fed to steer the US into recession, Nouriel Roubini has warned. Here's where 'Dr Doom', Sam Zell, and 3 other top experts think the economy will suffer.

☆ Live Results: Democrat Raphael Warnock and Republican Herschel Walker face off in the Georgia Senate runoff
▼ + stars: | 2022-12-06 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

Raphael Warnock and Herschel Walker are fighting to the finish in Georgia's Senate runoff. Warnock is seeking a full 6-year term, while Walker hopes to knock off the incumbent Democrat. Both parties see the Senate runoff as a proving ground in advance of the 2024 presidential election. Before Warnock and Ossoff won their races last year, a Democrat hadn't won a US Senate seat in Georgia since Zell Miller in 2000. Walker has raised $58.3 million, spent $48.5 million, and has $9.8 million left to spend, as of November 16.

☆ Markets are blindly expecting the best – but inflation might not cool to the Fed's 2% target until late 2024, says Federated Hermes' top stock-picker
▼ + stars: | 2022-11-24 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

It's too optimistic to think interest rate rises are done, says Federated Hermes' chief strategist. "The market is whistling past the graveyard and expecting the best thing to happen," Phil Orlando said. It could take until the end of 2024 for inflation to fall to the Fed's 2% target, he added. "Right now the market is whistling past the graveyard and expecting the best things to happen," he told Yahoo Finance on Wednesday. The Consumer Price Index rose by a lower-than-expected 7.7% last month, offering markets the strongest sign yet that inflation is starting to fall.

☆ The S&P 500 could plunge another 16% and won't bottom until the Fed starts to cut interest rates, UBS says
▼ + stars: | 2022-11-08 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The S&P 500 will fall to 3,200 points before it hits a low in Q2 next year, UBS has forecast. US stocks won't recover until the Federal Reserve starts cutting interest rates, the bank said. "The speed of that pivot will drive every asset class next year," UBS strategists said Monday. The S&P 500 would have to fall 15.9% from its Monday close at 3,806 to reach that low level. Expectations of a Fed pivot could lift the S&P 500 to 3,900 points — a 2.4% gain from its close Monday – by the end of 2023, according to UBS.

☆ Billionaire investor Sam Zell: We will likely have a recession
▼ + stars: | 2022-11-03 | 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 EmailBillionaire investor Sam Zell: We will likely have a recessionSam Zell, Equity Group Investments founder and chairman, joins CNBC's 'Squawk Box' to weigh in on the Federal Reserve's move to combat inflation and breaks down his investment strategies amid high inflation.

☆ US stocks continue to fall as investors digest hawkish Fed outlook while jobs report looms
▼ + stars: | 2022-11-03 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

US stocks extended losses Thursday as investors remained worried over a hawkish Fed. Investors are also looking ahead to the Labor Department's monthly payroll report coming out early Friday. "Indicating that the Fed expects to extend its horizon for continuing to raise interest rates, Powell warns that the long slog will continue," said David Donabedian, chief investment officer at CIBC Private Wealth. "Powell threw a wet blanket on investors hoping that the Fed would transition to the final phase of the tightening process. " The world could face the worst financial crisis since World War II as hyperinflation looms, hedge fund Elliott Management said.

☆ Watch CNBC's full interview with real estate billionaire Sam Zell on interest rates, inflation and more
▼ + stars: | 2022-11-03 | 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 EmailWatch CNBC's full interview with real estate billionaire Sam Zell on interest rates, inflation and moreSam Zell, Equity Group Investments founder and chairman, joins CNBC's 'Squawk Box' to weigh in on the Federal Reserve's move to combat inflation and breaks down his investment strategies amid high inflation. Zell also breaks down his outlook for the U.S. economy and explains why he believes the U.S. will likely face a recession. "The concept of transitory inflation is pretty awful," Zell tells CNBC. "We over-flooded the society with capital."

☆ IPO market has unraveled this year
▼ + stars: | 2022-11-01 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But there’s another beast, albeit a mythical one, that has been pretty much absent from the stock market all year: Unicorns. According to data from IPO research firm Renaissance Capital, that was the slowest October for the IPO market since 2011. Many hope to do so instead in 2023 if the broader market improves. With that in mind, other unicorns could go public in 2023 if the IPO window opens up again. Crypto king FTX, sports merchandise leader Fanatics, Fortnite owner Epic Games and mobile bank app Chime are among the top 2023 IPO candidates, according to Wall Street analysts.

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