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☆ With Washington Capitals, Wizards move to Virginia, owner Ted Leonsis pursues his vision of a $10 billion sports empire around Washington, D.C.
▼ + stars: | 2023-12-14 | by ( Ian Thomas | ) www.cnbc.com time to read: +8 min

Glenn Youngkin (L) looks on during the announcement of a new sports arena for the Washington Wizards NBA basketball team and Washington Capitals NHL hockey team, on December 13, 2023 Virginia. Win Mcnamee | Getty Images News | Getty ImagesTed Leonsis, the owner of the NBA's Washington Wizards and the NHL's Washington Capitals, has a grand vision for growing a regional sports empire. Glenn Youngkin announced that the Capitals and Wizards have agreed to move to a new arena in Alexandria, Virginia, as part of a $2 billion entertainment complex in 2028. How will they compete with big market teams? "We could have a billion-and-a-half-dollar revenue run rate and a $10 billion to $15 billion trend of valuation," Leonsis said.

Persons: Ted Leonsis, Glenn Youngkin, Win Mcnamee, Leonsis, we'll, aren't, I'm, it's, It's, David Rubenstein, David Blitzer, Blackstone, James Dolan, Stan Kroenke, Kroenke, I've Organizations: Monumental Sports, Entertainment, Virginia Gov, Washington Wizards NBA, Washington Capitals NHL, Getty, Washington Wizards, NHL's Washington Capitals, CNBC, Summit, Washington , D.C, AOL, Capitals, Wizards, Washington Mystics, Capital, D.C, Sports, Mystics, NHL, Baltimore Orioles, Washington Nationals, MLB, Carlyle Group, Bloomberg, Orioles, Red Sox, Fenway Sports Group, Boston Red Sox, Pittsburgh Penguins, Premier League's Liverpool, Philadelphia 76ers, New, New Jersey Devils, Washington, Cleveland Guardians, MSG, Sphere Entertainment, Madison Square Garden Entertainment, New York Knicks, Rangers, MSG Networks, Atlanta Braves Holdings, Liberty Media, Sports & Entertainment, Nuggets, Avalanche, Los Angeles Rams, Premier League's Arsenal FC, Qatar Investment Authority, MSG Sports, NHL's Rangers, NBA's Knicks, Phoenix Suns, NBA, Ottawa Senators, Braves Locations: Virginia, Alexandria , Virginia, Washington ,, Washington, London, Richmond, Delaware, New Jersey, Real Salt Lake, Denver, MLS's Rapids, Colorado, Monumental

☆ Bill Ackman says the US economy faces a real risk of a 'hard landing' if the Fed doesn't cut interest rates soon
▼ + stars: | 2023-11-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Bill Ackman said in a Bloomberg podcast he expects the US Federal Reserve to cut rates soon. He said the US economy risks a sharp downturn if the Fed doesn't cut interest rates soon. AdvertisementBill Ackman expects the US Federal Reserve to cut rates as early as the first quarter of next year. The Fed needs to cut interest rates soon to avoid a sharp downturn in the US economy, the billionaire investor said on Bloomberg's "The David Rubenstein Show: Peer-to-Peer Conversations." The Fed has raised interest rates 11 times since March 2022 in an effort to cool soaring inflation.

Persons: Bill Ackman, —, David Rubenstein, That's, Ackman, Rubenstein, There's Organizations: Bloomberg, US Federal Reserve, Service, Carlyle Group, Deutsche Bank, European Central Bank, UBS Locations: Israel, Swiss

☆ Here's what it would take for the Fed to start slashing interest rates in 2024
▼ + stars: | 2023-11-29 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"In a different cycle, when inflation hadn't spiked so much, I think the Fed would have been cutting rates already. "If the real fed funds rate continues to go higher as I expect it will, then you'd want to offset that through rate cuts. And the amount of rate cuts I think they're going to have to do is a relatively large amount." "I think there's a real risk of a hard landing if the Fed doesn't start cutting rates pretty soon," the head of Pershing Square Capital Management added. However, even some of the historically more dovish Fed officials aren't showing their hands on when they think cuts will come.

Persons: Valerie Plesch, Kathy Jones, Charles Schwab, Christopher Waller, Michelle Bowman, Waller, Bowman, Joseph LaVorgna, Donald Trump, Chris Marangi, Bill Ackman, Ackman, David Rubenstein, Raphael Bostic, Thomas Barkin Organizations: Eccles Federal, Bloomberg, Getty, Federal Reserve, Fed, Nikko Securities America, National Economic Council, CME Group, Stocks, Gabelli, Market, Pershing, Capital Management, Atlanta Federal Reserve, Richmond Locations: Washington , DC, Atlanta

(AP) — It wasn’t all work and no play for President Joe Biden on Friday on this picturesque Massachusetts island. Because of the remarks on hostages, the traditional family lunch happened later than usual. Finally, the Bidens ended up at Nantucket’s annual Christmas tree lighting ceremony, clapping as the town crier led the countdown and the tree was illuminated with colored lights. Leaning against metal barricades and waving banners that said “Free Palestine,” the protesters chanted: “Biden, Biden, you can’t hide. A local official urged the protesters to stop, noting that the community event was not a political one.

Persons: Joe Biden, Biden, it’s, Jill Biden, Ashley, Can’t, “ We’ve, Heather Cox Richardson, “, crier, “ Biden, –, Joe, Jill, Beau, Hunter, they’ve, David Rubenstein Organizations: Biden, Nantucket, of, Nantucket Books, White, Palestine Locations: NANTUCKET, Massachusetts, Gaza, Craftmasters, Nantucket, Palestine

☆ Biden shares pies for Thanksgiving, expresses hope about hostage release
▼ + stars: | 2023-11-23 | by ( Jeff Mason | Thomson Reuters | Jeff Mason Is A White House Correspondent For Reuters. He Has Covered The Presidencies Of Barack Obama | ) www.reuters.com time to read: +2 min

[1/3] U.S. President Joe Biden greets Nantucket Fire Department Chief Cranson alongside First Lady Jill Biden, at the Nantucket Fire Department in Nantucket, Massachusetts, U.S, November 23, 2023. REUTERS/Tom Brenner Acquire Licensing RightsNANTUCKET, Mass., Nov 23 (Reuters) - President Joe Biden delivered pumpkin pies to firefighters on Thursday to celebrate the U.S. Thanksgiving holiday and expressed hope about a pending hostage release in the war between Israel and the Palestinian Islamist group Hamas. Biden, who is vacationing with his family on the Massachusetts island of Nantucket, has spent part of his time here speaking to foreign leaders about the war. Biden has a decades-long family tradition of coming to Nantucket for the Thanksgiving holiday. In earlier remarks on NBC, Biden urged people to focus on solving problems together and stopping rancor in U.S. society.

Persons: Joe Biden, Cranson, Lady Jill Biden, Tom Brenner, Biden, Jill Biden, David Rubenstein, ", Donald Trump, Evan Gershkovich, Paul Whelan, Jeff Mason, Jonathan Oatis Organizations: Nantucket Fire Department, REUTERS, Rights, U.S, Hamas, NBC, Democrat, Republican, Thomson Locations: Nantucket, Nantucket , Massachusetts, U.S, Rights NANTUCKET, Israel, Palestinian, Massachusetts, Qatar, Russia

☆ A Biden Thanksgiving: Sweeping Views of Nantucket Harbor, Calls About Israel
▼ + stars: | 2023-11-22 | by ( Lisa Friedman | ) www.nytimes.com time to read: +1 min

Mr. Biden and Jill Biden, the first lady, arrived on the exclusive island off the coast of Massachusetts late Tuesday for their traditional Thanksgiving week visit. The home of Mr. Rubenstein, a co-founder of the Carlyle Group, a private equity firm, is on 13 acres of beachfront property with sweeping views of Nantucket Harbor. Many locals also pointed out that Mr. Biden has been coming to the island for some 40 years, and that this is his third visit as president. OK, cool,’” said Suzanne Bennett, who manages Nantucket Bookworks, a local bookshop where Mr. Biden has popped in on previous walks in town. Ms. Bennett said she hadn’t done much of anything to prepare for this year’s likely Biden family visit, and described the morning routine as business as usual.

Persons: Biden, Mr, Jill Biden, David Rubenstein, Rubenstein, They’re, ”, Suzanne Bennett, Bennett Organizations: Carlyle Group, Secret Service, White House Locations: blustery, Nantucket, Massachusetts, Nantucket Harbor

☆ Citigroup begins layoffs as part of CEO Jane Fraser’s corporate overhaul
▼ + stars: | 2023-11-15 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Jane Fraser, CEO of Citigroup Inc., during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" at the Economic Club of Washington in Washington, D.C., March 22, 2023. Citigroup will soon begin layoffs in CEO Jane Fraser's corporate overhaul, CNBC has learned. Those impacted will include chiefs of staff, managing directors and some lower-level employees, said the people. She announced five new divisions whose heads report directly to her, resulting in the departure of a handful of senior executives. Fraser is under pressure to improve Citigroup, which has been mired in a stock slump as headcount and expenses have ballooned in recent years.

Persons: Jane Fraser, David Rubenstein, Jane, Fraser, We've Organizations: Citigroup Inc, Economic, of Washington, Washington , D.C, Citigroup, CNBC, Employees, Workers, CNBC PRO Locations: Washington ,

Felipe Villarroel, portfolio manager at TwentyFour Asset Management, said he recently swapped some 10-year Treasuries for higher yielding 30-year Treasuries. At these levels, yields give “a massive cushion in your total returns" to protect against bond prices falling further, he said. Yields on the benchmark 10-year U.S. Treasury were over 4.95% in Asia trade on Thursday, their highest level in more than 16 years, and 30-year yields breached 5% this month for the first time since 2007. An auction of 30-year U.S. Treasuries showed weak demand last week, sending yields higher. "The tightness that (bond yields) are imposing on the economy and markets is rising ... this caps the extra work the Fed needs to do," said Smith.

Persons: Jerome Powell, David Rubenstein, Amanda Andrade, Rhoades, Felipe Villarroel, Treasuries, Matt Smith, Ruffer, Buyers, Leslie Falconio, Ruffer's Smith, Smith, Davide Barbuscia, Michelle Price, Ira Iosebashvili, Nick Zieminski Organizations: Federal, Economic, of Washington, Washington , D.C, REUTERS, Treasuries, TwentyFour Asset Management, Bank of America Global Research, Treasury, UBS Global Wealth Management, BlackRock Investment Institute, Thomson Locations: Washington ,, Asia

☆ Israeli billionaire blasts Harvard leadership and quits board in protest
▼ + stars: | 2023-10-13 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —Israeli billionaire Idan Ofer and his wife Batia are quitting a Harvard executive board in protest of how university leaders have responded to Hamas’ terror attacks on Israel. Idan Ofer has amassed a fortune valued at nearly $20 billion, according to Bloomberg’s billionaire index, where the Israeli ranks No. Instead, the resignation was driven by how Harvard leaders responded to the attacks on Israel, the source said. Idan Ofer is a son of shipping billionaire Sammy Ofer, who was once Israel’s richest man and died in 2011, according to Forbes. President of Harvard University Claudine Gay Brian Snyder/ReutersHarvard did not comment on the resignation and criticism from the Ofers.

Persons: Idan Ofer, Batia, “, Israel, ”, David Rubenstein, Sammy Ofer, Harvard University Claudine Gay Brian Snyder, Claudine Gay, ” Gay, Gay, Harvard “, Bill Ackman, That’s Organizations: New, New York CNN, Harvard, CNN, Harvard’s Kennedy School of Government, Kennedy, Forbes, Israel Corp, Kenon Holdings, Harvard University, Reuters Harvard, University, “ Locations: New York, Israel, Harvard’s

☆ The inflation threat isn't over yet – and the Fed won't ease up in fighting it overnight, the co-chief investor of the world's largest hedge fund says
▼ + stars: | 2023-09-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The inflation threat isn't over and interest rates won't sink overnight, Bridgewater's co-CIO says. Karen Karniol-Tambour sees little reason for rate cuts with a strong economy and sticky inflation. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Indeed, the Fed may realize that inflation isn't fading, and markets are pricing in rate cuts that it's uncomfortable making, Karniol-Tambour said. Even so, bond investors are pricing in a "pretty good number of rate cuts" starting next year, Karniol-Tambour said.

Persons: Bridgewater's, Karen Karniol, Tambour, David Rubenstein, Jerome Powell, Ray Dalio, Nir Bar Dea, CIOs, Greg Jensen, Bob Prince Organizations: Service, Bridgewater Associates, Bloomberg Locations: Wall, Silicon

☆ Citigroup CEO Jane Fraser pushes biggest overhaul in almost two decades
▼ + stars: | 2023-09-13 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +3 min

Citigroup CEO Jane Fraser testifies during a U.S. House Financial Services Committee hearing titled “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks” on Capitol Hill in Washington, U.S., September 21, 2022. The bank is also planning to list its Mexican consumer unit, known as Banamex, after a sale process fell through. Scottish-born Fraser is the first woman to lead a Wall Street bank. She spoke in March about her life and career in a wide-ranging interview with Carlyle Group (CG.O) Co-Founder David Rubenstein. Reporting by Tatiana Bautzer; writing by Michelle Price; editing by Lananh Nguyen and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Jane Fraser, Elizabeth Frantz, Jane Fraser's, we've, Fraser, Michael Corbat's, Sandy Weill, David Rubenstein, Goldman Sachs, Smith Barney, Tatiana Bautzer, Michelle Price, Lananh Nguyen, Josie Kao Organizations: Citigroup, . House Financial, REUTERS, Citi, JPMorgan Chase &, Bank of America, Banks, Carlyle Group, Cambridge University, Harvard Business School, McKinsey, Thomson Locations: Washington , U.S, U.S, New York, Scottish, Mexico

☆ Fed isn't itching to lower interest rates right now, says Carlyle's David Rubenstein
▼ + stars: | 2023-09-12 | 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 EmailFed isn't itching to lower interest rates right now, says Carlyle's David RubensteinDavid Rubenstein, Carlyle Group co-founder, joins 'Squawk on the Street' to discuss his expectations on the Fed rate cuts and his economic outlook.

Persons: Carlyle's David Rubenstein David Rubenstein Organizations: Carlyle Group

☆ Jeremy Grantham warns the AI boom won't stop a recession – and stocks are still likely to crash
▼ + stars: | 2023-09-06 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

The AI boom won't prevent a recession, according to Jeremy Grantham. Stock prices will fall when that economic slump hits, the legendary investor added. "Personally, I think AI is very important," the GMO cofounder said. And we will have a recession running perhaps deep into next year and an accompanying decline in stock prices." AdvertisementAdvertisement"It may start in 2023," Grantham added, in response to a question about when the recession is likely to begin.

Persons: Jeremy Grantham, hasn't, Bloomberg's David Rubenstein, Grantham, Grantham –, he's, We're Organizations: Bloomberg, Service, Grantham Locations: Wall, Silicon, ChatGPT

☆ Jeremy Grantham sounds the alarm on stocks, recession, inflation, and interest rates in a new interview. Here are his 8 best quotes.
▼ + stars: | 2023-09-06 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Jeremy Grantham rang the alarm on inflation, interest rates, markets, and the economy. We're now in an era that will average higher rates than we had for the last 10 years." "I suspect inflation will never be as low as it averaged for the last 10 years, that we have re-entered a period of moderately higher inflation, and therefore moderately higher interest rates." The power of interest rates rising and depressing the real estate market — very negative, slow-moving influence. When we sit here discussing the stock market, we're a little like Emperor Nero fiddling while Rome burns."

Persons: Jeremy Grantham, Grantham, David Rubenstein, We're, —, Nero Organizations: Service, Bloomberg Locations: Wall, Silicon, Grantham

Major League Baseball was the first to open its coffers to private-investment funds in 2019; a slew of other leagues followed, including the National Basketball Association, Major League Soccer and the National Hockey League. A big participant in that is Sixth Street Partners, a $74 billion behemoth, known historically for its direct lending and growth prowess, and has been making big inroads in the sports world in recent years, with several billion dollars' worth of investments. The firm recently co-founded Bay FC, part of the National Women's Soccer League, alongside several retired players, as well as Sheryl Sandberg. Sixth Street also made investments in FC Barcelona's LaLiga TV broadcasting rights and a majority investment in Legends, a sports and entertainment experiences company. In June 2021, Sixth Street led a strategic investment with Michael Dell in the San Antonio Spurs basketball team.

Persons: Carlyle, David Rubenstein, Sheryl Sandberg, Michael Dell, Alan Waxman, what's, it's, Waxman Organizations: Alpha, CNBC, Major League Baseball, National Basketball Association, Major League Soccer, National Hockey League, Sixth Street Partners, Bay FC, National Women's Soccer League, Sixth, FC Barcelona's LaLiga, San Antonio Spurs basketball, Spanish soccer, Real Madrid Locations: U.S, Spanish

☆ Legendary investor Jeremy Grantham sees shades of the dot-com bubble in markets - and predicts stocks will slump and recession will strike
▼ + stars: | 2023-08-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jeremy Grantham compared the post-pandemic boom in stocks to the dot-com bubble. The GMO cofounder doubts AI buzz can offset the impact of higher interest rates and tech woes. The buying frenzy was fueled by rock-bottom interest rates, stimulus checks, federal grants and loans, lockdown boredom, and other factors. The resulting surge in stocks was "in many ways about equal to the 2000 tech bubble," the veteran investor and GMO cofounder added. Grantham added that a recession could still hit this year, and forecasted moderately higher inflation and interest rates in the years to come versus the last decade.

Persons: Jeremy Grantham, Grantham, David Rubenstein, It's Organizations: Service, Bloomberg, Federal Locations: Wall, Silicon

☆ Opinion: The shattering aftermath in Maui
▼ + stars: | 2023-08-13 | by ( Richard Galant | ) edition.cnn.com time to read: +16 min

CNN —The Polynesian demigod Maui was so powerful he could raise islands up from the ocean floor and capture the sun to slow it down. We know Lahaina will be rebuilt, and the government response — city, state and federal — will be a huge part of that. “You can beat the drum of ‘women’s rights’ and defend tooth-and-nail women’s sports, so long as you only do so to denigrate trans women.”For more on the World Cup:Shaista Aziz: This Women’s World Cup has been unlike any other. That’s a great thingAmy Bass: The US loss at the Women’s World Cup sends a clear messageBill Bramhall/Tribune Content AgencyLet’s make a deal? In a country where federal prosecutors overwhelmingly win their cases, Trump’s odds of going to trial and winning both federal cases are slim — and he may face similarly daunting odds in the other cases.

Persons: Bill Weir, Jeff Melichar, ” Clay Jones, Melichar, “, Shaw, Naka Nathaniel, Kaua’i “, ”, ALICE, Lawrence Downes, ” Drew Sheneman, Peter Bergen, Laura Tillman, ” “, David Petraeus, ” Bergen, Tillman, Donald Trump’s, Joe Biden’s, ” Mary Ziegler, ” Ziegler, Roe, Patrick T, Brown, Wade, Kevin McCarthy, Biden, “ Biden, Julian Zelizer, ” Dana Summers, Donald Trump, Podcaster Megyn Kelly, “ I’m, Nicole Hemmer, Megan “ Rapinoe, Kelly, Shaista Aziz, Amy Bass, Bill Bramhall, Will Handelsman, it’s, Trump, William D, Cohan, Puck, David Rubenstein, Scott Galloway, Jill Filipovic, “ Trump, Galloway, pardoning, ” Filipovic, …, Jesus, Kelli Rhee, Rhee, ” Don’t, Drew Sheneman, Agency Brian Elmore, Sen, Elizabeth Warren, Adam Kinzinger, Ukraine Aanchal Saraf, Rebecca H, Oppenheimer’s, Joseph, I’ll, Neil J, Holly Thomas, Sara Stewart, “ Oppenheimer, Christopher, “ Barbie, “ Barbie ”, ” Stewart Organizations: CNN, Coast Guard, Honolulu Civil, ‘, Aloha, New York Times, …, Agency, UN, Republican, GOP, ”, Republicans, Democratic, Federal, FIFA, US, National Soccer Team, New York University, Trump, Arnold Ventures, Ukraine Aanchal, Warner Bros . Locations: Maui, Lahaina, Hawaii, Naka, Hilo, Kaua’i, Afghanistan, Afghanistan’s, Kabul, Ohio, California , Vermont, Michigan, Georgia, Trump, Ukraine

☆ Here's how to invest $100,000 right now, according to billionaire Mike Novogratz
▼ + stars: | 2023-08-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Billionaire Mike Novogratz would put $100,000 in Alibaba stock, silver, gold, ether, and bitcoin. That advice is for young and risk-tolerant investors, he told David Rubenstein on Bloomberg TV. But for more risk-averse investors, Novogratz said they should mainly focus on bonds. I'd be buying silver, gold, bitcoin and ethereum. His preferred assets have made gains year to date, with Alibaba up 12%, gold 7.7%, silver 3.5%, ether 52.5%, and bitcoin 74.4%.

Persons: Mike Novogratz, David Rubenstein, Novogratz, That'd, bitcoin, Larry Fink's, Fundstrat Organizations: Bloomberg, Service, Privacy, Galaxy Digital Locations: Wall, Silicon, Beijing, BlackRock

☆ Bitcoin could hit a new high now that BlackRock's Larry Fink got 'orange-pilled' and became a true believer, billionaire Mike Novogratz says
▼ + stars: | 2023-07-31 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bitcoin could hit a new record high now that Blackrock's Larry Fink is a believer, Mike Novogratz said. "The most important thing that happened this year in bitcoin is Larry Fink," he said on Bloomberg TV. "I think the most important thing that happened this year in bitcoin is Larry Fink," the Galaxy CEO said in an interview on Bloomberg TV with David Rubenstein. This pivoting sentiment could help bitcoin surpass its $69,000 record set in 2021, Novogratz said, further supported by a future cut in interest rates. The token stands out for its use of an eyeball scanner, used to establish unique digital identities per user.

Persons: Bitcoin, Larry Fink, Mike Novogratz, Larry Fink's, David Rubenstein, —, Larry, Fink, bullishly, Novogratz, Fundstrat, OpenAI, Sam Altman, Altman Organizations: Bloomberg, Service, Galaxy, Securities and Exchange Commission Locations: bitcoin, Wall, Silicon, BlackRock

☆ Real estate billionaire Barry Sternlicht says the storm heading for the sector is unavoidable - and recession is coming despite soft landing talk
▼ + stars: | 2023-07-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The billionaire Starwood CEO predicted a coming recession and "Category 5 hurricane" in the real estate sector. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyA storm is headed for the real estate sector, and a recession is coming despite growing talk of a soft landing, according to real estate billionaire Barry Sternlicht. Higher rates and tighter financial conditions spell trouble for the real estate sector in particular. "I like to say there's a hurricane over real estate right now. While labor markets are hot still, inflation is steadily cooling, leading to talk of a Goldilocks scenario in which the Fed can lower inflation without crushing demand or crimping growth.

Persons: Barry Sternlicht, Sternlicht, David Rubenstein Organizations: Starwood, Service, Starwood Capital CEO, Bloomberg Wealth, Board Locations: Wall, Silicon

☆ New Yorkers Got Broken Promises. Developers Got 20 Million Sq. Ft.
▼ + stars: | 2023-07-21 | by ( Urvashi Uberoy | Keith Collins | ) www.nytimes.com time to read: +15 min

These agreements allow developers to build larger towers and earn more revenue in exchange for providing public spaces. “Developers received something that was disproportionately valuable,” said Jerold S. Kayden, a lawyer and professor of urban planning and design at Harvard University and an advocate for keeping privately owned public spaces open to the public. Bonus Building Space The additional space that developers received is often far larger than the public spaces they provided. Here are the 392 buildings with privately owned public spaces. The violations fall under three main categories:Reduced Access In 2021, the plaza at 835 Sixth Avenue was fenced off.

Persons: Jonathan J, Miller, Richard J, Roddewig, ”, Jerold, Kayden, Gale Brewer, ” Ms, Brewer, “, Larry Silverstein, Mr, Silverstein, Melissa Grace, David Rubenstein Organizations: of Buildings, Advisory Services, “, Harvard University, New York’s Department of City Planning, Municipal Art Society of New, The Times, greenwich, madison, Database, New York City Department of City Planning, Department, Environmental, Buildings, Department of, Planning, City, The, of City Planning, Department of City Planning, Wall, Lincoln Center, Times, MANHATTAN BRONX, Yorkers, Real, Board, New, Google Locations: New York City, Central, Municipal Art Society of New York, pennsylvania, greenwich, lincoln, “, Manhattan, MANHATTAN BRONX QUEENS BROOKLYN, New York, AKAM, Brooklyn

☆ Commercial real estate is being battered by a 'hurricane' as higher interest rates bite, billionaire investor Barry Sternlicht says
▼ + stars: | 2023-07-21 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Commercial real estate is in a "Category 5 hurricane" from rate hikes, Barry Sternlicht said. The commercial real estate industry is in a "Category 5 hurricane" from the the Federal Reserve's interest rate hikes, according to billionaire investor Barry Sternlicht. After months of tight monetary policy, the Fed paused its interest-rate hiking cycle in June amid rising fears about the commercial real estate and banking sectors. A combination of higher interest rates, a credit squeeze, and remote work trends are squeezing the commercial real estate industry. Still, he remains optimistic: "When the Fed basically tells you they're done, I think real estate will catch a very firm bid."

Persons: Barry Sternlicht, David Rubenstein, Sternlicht Organizations: Bloomberg, Sternlicht's Starwood Capital Group, Starwood Capital, Fed Locations: Atlanta

☆ David Rubenstein says there's only one solution to US debt: inflation
▼ + stars: | 2023-07-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The US won't cut spending, raise taxes much, seek a bailout, or default on its debt, David Rubenstein said. "We aren't going to cut expenses in the government. We aren't going to go to a bailout with the IMF, that's not realistic. As a solution, Rubenstein encouraged young people to get more involved in leadership positions, whether in politics or the corporate world. "I think that their concerns are not reflected very often in board meetings, corporate boards or foundation boards, nonprofit boards and so forth," he said.

Persons: David Rubenstein, Rubenstein, that's, we're, Carlyle Group's Organizations: Bloomberg, Service, IMF, Federal Reserve Locations: Wall, Silicon

☆ Bill Ackman says it'll be a 'huge loss' if JPMorgan boss Jamie Dimon doesn't run for US president
▼ + stars: | 2023-07-06 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

Billionaire investor Bill Ackman once again urged Jamie Dimon to campaign for US President. It would be a 'huge loss' if the JPMorgan boss didn't run for office, he tweeted. "It is a huge loss for us all if Jamie won't run," Ackman tweeted, alongside a video of the 67-year-old speaking at a conference hosted by The Economic Club of Washington D.C. in 2016. This isn't the first time that Ackman, who is the CEO of the hedge fund Pershing Square, backed Dimon as a potential president. Others including famed investor Warren Buffett, former US president Bill Clinton, and real estate developer Ross Perot Jr. have also praised Dimon's leadership qualities and political skills over the past decade.

Persons: Bill Ackman, Jamie Dimon, didn't, Warren Buffet, Bill Clinton, —, Jamie won't, Ackman, Dimon, Carlyle, David Rubenstein, Warren Buffett, Ross Perot Organizations: US, JPMorgan, Service, Privacy, The Economic, of Washington D.C, Ross Perot Jr, Bloomberg Locations: America

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