NoMad Hotel heads back to the auction block

first_img Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Commercial Real EstateforeclosuresHotel Market Email Address* Ron Burkle and Andrew Zobler with The NoMad New York. (Google Maps, Getty)The owners of the NoMad Hotel — who shelled out big bucks a few years ago to avoid foreclosure at the 11th hour — have their backs up the wall once again.Billionaire investor Ron Burkle and hotelier Andrew Zobler are facing a foreclosure on their equity in the trendy hotel at 1170 Broadway, according to a notice for the UCC foreclosure auction.Lenders Ohana Real Estate Investors and Ellington Management Group, which hold $102.5 million in mezzanine debt on the hotel, have scheduled the auction for June 30.Zobler’s Sydell Group and Ellington Management declined to comment. Representatives for Burkle’s Yucaipa Companies and Ohana Real Estate could not be immediately reached for comment.The NoMad management reportedly told staff in March that it planned to shut the hotel for renovations beginning April 2.ADVERTISEMENTThis is the second time that Burkle and Zobler have faced foreclosure on the property, which they control via a ground lease.In 2019, lender Colony Capital filed to foreclose on its equity interest in the hotel. Burkle and Zobler put aside their ongoing feud to save the hotel, with Burkle’s Yucaipa Companies agreeing to buy back the $40 million mezzanine debt from Colony Capital.JLL is handling marketing for the UCC foreclosure.Contact Rich Bockmann Full Name*center_img Tags Share via Shortlink Message*last_img read more

Utah State Football Is Finalizing Deal To Hire Blake Anderson As New Head Coach

first_imgDecember 10, 2020 /Sports News – Local Utah State Football Is Finalizing Deal To Hire Blake Anderson As New Head Coach Tags: Arkansas State Footbal/Blake Anderson/USU Football Written by FacebookTwitterLinkedInEmailLOGAN, Utah-Utah State football is finalizing a deal to hire former Arkansas State head coach Blake Anderson to head the Aggies’ program per numerous reports Thursday.News: Blake Anderson is Utah State’s pick to become the Aggies’ next head coach. The two sides met in person earlier this week and a deal is being finalized currently. Original plan was to have Anderson coach at A State through Saturday before the IW game was cancelled— Steven N. Godfrey Jr. (@38Godfrey) December 10, 2020Arkansas State vice chancellor for intercollegiate athletics Terry Mohajir announced Anderson had resigned from the Red Wolves’ program “to accept the same position at another FBS program.”Anderson, who has been 51-37 (.579) at the Red Wolves’ program during his seven years at Jonesboro, Ark., led Arkansas State to Sun Belt titles in 2015 and 2016.Arkansas State concludes this season with a record of 4-7 after Saturday’s game against Incarnate Word of NCAA FCS was canceled.Anderson has served as an assistant at North Carolina, Southern Miss, Louisiana-Lafayette and New Mexico.At those places, Anderson has been an offensive coordinator, quarterbacks coach and receiver coach.Anderson also played quarterback and receiver at Sam Houston State of NCAA FCS and Baylor. Brad Jameslast_img read more

Appeals Court Upholds Decision To Block Anthem Bid For Cigna

first_imgAppeals Court Upholds Decision To Block Anthem Bid For CignaIL for www.theindianalawyer.comA federal appeals court on Friday left in place a decision blocking Indianapolis-based Anthem Inc.’s bid to buy rival health insurer Cigna Corp, saying that a bigger company is not better for consumers.The 2-1 decision upholds a federal judge’s ruling in February that said the proposed $48 billion acquisition would reduce competition in the concentrated insurance market.Anthem argued the merger would save $2.4 billion in medical costs and lead to lower consumer premiums. But the Justice Department said Anthem had no real plan to reach those savings. The government sued last summer to block the deal amid concerns over its effect on prices and consumer choices.The ruling from the U.S. Court of Appeals for the District of Columbia Circuit likely dooms the merger effort that lasted nearly two years. Even Cigna has soured on the deal, filing a separate lawsuit seeking a $1.85 billion termination fee from Anthem and billions more in damages that include the amount Cigna shareholders would have received if the merger hadn’t failed.Consumer groups had opposed the merger, saying it would have a negative impact on consumers and lead to fewer choices. Industry experts suggested any consumer impact from the deal would take years to materialize and could lead to savings in some areas but higher costs elsewhere.Anthem had promoted the merger as a way to help the companies negotiate better prices with pharmaceutical companies, hospitals and doctor groups. They also said it would help cut expenses and add more customers.Writing for the majority, Judge Judith Rogers said the lower court was correct to halt the merger “based on Anthem’s failure to show the kind of extraordinary efficiencies necessary to offset the conceded anticompetitive effect of the merger” in 14 states.Rogers also said the merger would have a “substantial anticompetitive effect” in the Richmond, Virginia, large-group employer market.In dissent, Judge Brett Kavanaugh said a merger would allow the larger company to negotiate lower provider rates and mean cost-savings for consumers. He said he would send the case back to the lower court for further deliberations.Earlier this year, a federal judge also blocked a separate health insurer combination: Aetna’s roughly $34 billion acquisition of Medicare Advantage provider Humana Inc.FacebookTwitterCopy LinkEmailSharelast_img read more

Local Triathlete Wins Gold at Special Olympics World Games

first_imgNoah Dellas and Lisa Rumer are celebrating Sunday afternoon at the Special Olympics World Games in Los Angeles.Dellas, a 17-year-old from Cape May Court House, won a gold medal in the triathlon — a first-time event at the World Games.Lisa Rumer interviewed by ESPN about coaching the first USA triathlon team at the Special Olympics World Games.Rumer, a local triathlete and program supervisor at the Ocean City Aquatics and Fitness Center, helped lobby to add the sport to the Special Olympics, and she brings home a world title as coach of the first USA team.Dellas was first out of the water and never looked back in the event, which was held at Alamitos Beach in Long Beach, Calif. The triathlon included a half-mile swim, a 12-mile bike ride and a 5-kilometer (3.1 miles) run.After the event, Rumer said Dellas, a strong swimmer, had planned to lead from the start. She said he was extremely excited about the victory, and handling multiple interviews with poise.Rumer brought four competitors, all from New Jersey, to the World Games.The team also included: Courtney Dreyfus, 18, of Scotch Plains, Union County; Ben Heitmeyer, 25, of Iselin, Middlesex County; and Amy Noctor, 27, of Washington Township, Warren County. She said all performed well in the event.Heitmeyer took 12th place among the men, and Noctor and Dreyfus were silver and bronze medalists for women.Rumer helped bring a spotlight to the sport and to the local athletes with interviews on ESPN, which filmed a montage in Ocean City, where the team trained. The segment is expected to air on ESPN or ESPN2 (local Comcast Channel 29/30 or 850/851) at 7 p.m. Monday (July 27).Read more: Lisa Rumer to Bring Local Triathletes to World Stage.See video of ESPN interview with triathlon team coach Lisa RumerFollow images and updates on the triathlon team on FacebookCheck complete results of Sunday’s triathlonMore than 7,000 athletes and 3,000 coaches from 170 countries are competing in the World Games. The triathlon is just one of 25 sports in the nine-day competition.Rumer, 50, was a track and cross-country star at Ocean City High School, where she graduated in 1983. She started volunteering with special-needs athletes not long after she first came to the Aquatics and Fitness Center 23 years ago.Dellas, a student in the Cape May County Technical School District, said in a recent interview that he hopes to attend Rutgers University, where he wants to study architecture and agriculture, as well as join the swim team.Dellas, Rumer and the triathlon team will remain in Los Angeles through the conclusion of the Games on Sunday. The triathletes were invited to compete in individual events included in the triathlon. Dellas will compete in a one-mile open-water swim.One of the highlights of the Games for him, Rumer said, was meeting his idol, Michael Phelps.Noah Dellas (bottom left) poses with Olympic swimmer Michael Phelps and others at the Special Olympics World Games. Noah Dellas celebrates with Lisa Rumer after his victory in the first-ever triathlon competition at the Special Olympic World Games on Sunday in Los Angeles.  Credit: Special Olympics USAlast_img read more

Starbucks and Arla in coffee drink partnership

first_imgStarbucks has teamed up with dairy company Arla Foods to launch two new coffee drinks in the UK.Starbucks Discoveries chilled coffees and Starbucks Doubleshot Espresso & Milk are ready-to-drink coffee ranges, which will be available in all Starbucks outlets from May.Arla Foods signed a licensing agreement with Starbucks earlier this year, which will see them manufacture, distribute and market the coffee chain’s premium chilled coffee drinks.The Discoveries range comprises three varieties: Seattle Latte, Aztlàn Mocha Latte (chocolate flavour) and Qandi Latte (caramel flavour). Both ranges will be made using Fairtrade certified coffee beans and sugar, and will be produced at Arla Food’s subsidiary Cocio Chokolademælk in Denmark.The drinks will also be available in retail outlets from April.“We believe there is a real opportunity to transform the ready-to-drink coffee market with this range,” said Arla’s commercial director, Simon Stevens. “Until now there hasn’t been a big brand to drive the category forward but we are confident that, with a global brand as established and trusted as Starbucks, we can achieve this.”last_img read more

Matisyahu Joins Twiddle On Night Two Of Brooklyn Bowl Run [Audio/Video/Gallery]

first_imgLast night, Twiddle played the second show their four-night Halloween run at Brooklyn Bowls. The run will see the Vermont quartet play three shows at Brooklyn Bowl in Williamsburg, before they head to the west coast to finish with a bang on Halloween night at Brooklyn Bowl Las Vegas.After welcoming Brandon “Taz” Niederauer for night one (watch here), the band continued the sit-in trend by bringing in the famed Matisyahu during the second set. Matisyahu and Twiddle guitarist Mihali Savoulidis recently released a single called “Storm Tossed,” and the two played the song for the Brooklyn Bowl crowd. Watch fan-shot videos of Matisyahu’s sit-in below, courtesy of YouTube user Josh: Matiysahu would stay on stage for a cover of Bob Marley’s “Exodus.” Guitarist Aaron Dugan of Matisyahu’s band also joined in on the Marley cover. The band would close the set with “Cabbage Face” and end the night with their classic “Mamunes The Faun.”Thanks to taperchris, you can stream the full audio below!Check out a gallery from the show courtesy of photographer Andrew Scott Blackstein, and check out the full setlist below via PT.Setlist: Twiddle at the Brooklyn Bowl, Brooklyn, NY – 10/28/16Set 1: Second Wind, Polluted Beauty, Brick Of Barley, JamflowmanSet 2: Gatsby The Great, Storm Tossed*, Exodus*^, Cabbage FaceEncore: Mamunes The FaunNotes: *: with Matisyahu; ^: with Keith Allen (The Mantras) on guitarTwiddle At Brooklyn Bowl, Night 2 Load remaining imageslast_img read more

Keys to a good life

first_imgHow do you lead a good life? That seemingly simple question has preoccupied and perplexed mankind for centuries.For author and historian Jill Lepore, one key to fulfillment involves poring over old manuscripts and dusty correspondence and emerging with a compelling, enlightening story to share.“As a reader, I find no explanation more satisfying than a historical explanation, especially if it’s completely cluttered, overwhelmingly cluttered, with evidence,” said Lepore, Harvard’s David Woods Kemper ’41 Professor of American History and a staff writer for The New Yorker, via email. “I love trying to find that kind of explanation in the archives, and then writing an essay, or giving a lecture, that offers that explanation in the form of a story.”She wrote, speaking more broadly, that her life goals include “to do good, quietly, and to hold beauty dear.” Lepore was one of three Harvard scholars who offered their insights into what personal fulfillment means, in advance of their participation in a discussion Tuesday in London called “The Examined Life.”Harvard President Drew Faust welcomed alumni to Guildhall, the historic town hall in England’s capital, to share her vision for Harvard’s future and to introduce the day’s discussion. The Harvard Alumni Association and the Harvard Club of the United Kingdom sponsored the event, the first in a series titled “Your Harvard” that will take place throughout The Harvard Campaign.In the discussions, Harvard faculty members will probe challenges facing society and innovative solutions to them. Other “Your Harvard” events will take place in Los Angeles on March 8 and in New York City on May 14.It’s a common refrain that money can’t buy you happiness. But according to Harvard Business School’s Michael Norton, if you spend it correctly, it actually can.For the past several years, Norton, associate professor of business administration and Marvin Bower Fellow at Harvard Business School, has explored how the ways that people spend their money can correlate to their level of happiness. His work is chronicled in last year’s book “Happy Money: The Science of Smarter Spending,” co-authored with Elizabeth Dunn, associate professor in the psychology department at the University of British Columbia.Simply put, the pair found there were emotional dividends in paying it forward. After studying people’s spending habits across a range of countries and income levels, Norton and Dunn concluded that when a person spends money on someone else — whether by a donation to a good cause, or just taking a friend to lunch — that person is generally happier.“When you buy things for yourself, it’s not bad for your happiness; it just isn’t good. It doesn’t do much for you. Or even if it does, it wears off really quickly,” said Norton. “But when we give to other people … it turns out it does make us happier.”To keep that happy feeling, people should think about giving regularly, said Norton, instead of giving in a “responsive way,” such as when a colleague asks to be sponsored in a race.“We really encourage people to think instead regularly [about] how much of your money you are spending on ridiculous things for yourself, and how much of your money are you spending to help other people.”Since starting his research, Norton has taken his own advice. He signed up with a charity that sends him monthly email reminders that it’s time to give to a public school project of his choice. To get that happy feeling, he said, all he has to do is turn his head. Posted on the wall of his office is a handwritten note from a young student thanking him for a recent donation that helped the class purchase science equipment.“You really know that your money is having an impact … it’s incredible.”Lepore’s 2012 book “The Mansion of Happiness: A History of Life and Death,” uses a historical lens to explore big, existential questions like, how does life begin? What does it mean? What happens when you’re dead? But it was actually while writing her most recent work, a portrait of Benjamin Franklin’s sister called “Book of Ages: The Life and Opinions of Jane Franklin,” that she learned “the most about the shape of life from writing history.”“What I learned, I didn’t see until I was nearly done writing. And it’s that I wrote for my mother,” said Lepore, who penned an essay for The New Yorker titled “The Prodigal Daughter” about her mother, who died last year.The essay is “about how the best in us is, in the end, a monument to the people we love.”For people worried that the world’s religions seem increasingly associated with violence, corruption, and intolerance, Harvard Divinity School Dean David Hempton offered words of hope. In an email, the third speaker at the London session acknowledged that while religion, for a variety of complex reasons, can be a source of “inflaming division,” it can also be a source of solace, hope, and goodness.“All of the world’s great religious traditions have resources within them for promoting peace, goodness, and human flourishing,” said Hempton, “for example, the almost generic emphasis on the Golden Rule for loving neighbors as ourselves.”For Hempton, the good life involves concern for the well-being and flourishing of others, empathy, social justice, and “a disciplined (and informed) commitment to try to make the world a better place.”“In the words of Arnold Toynbee, ‘Love is what gives life its meaning and purpose,’” wrote Hempton. “How that works out in the promotion of human flourishing is, of course, complicated and can give rise to honest disagreement over ways and means. But posing the questions and seeking answers are vital.”last_img read more

Weekend Pick: Ocoee Fest Beer, Music and River Festival

first_imgIt is one of the great outdoor ironies that the end of summer usually marks the beginning or the best of the kayaking season. This is a sport dedicated to water after all, and once Labor Day weekend comes and goes, the days get shorter and the temperatures drop. Getting on the water during the down slope of summer probably doesn’t appeal to everyone, but hardcore paddlers love the changing season because it marks the beginning of the major dam releases on some of the best rivers in the South and mid-Atlantic. These releases are a big deal, and draw paddlers from across the region, the nation, and the world to the banks of the river to test their skills against the rivers. Since the people will always come, river festivals have popped up around the release dates to organize the paddlers and add a bit of revelry and spectacle to the scene – as if paddlers need an excuse to revel. This weekend, one such festival is taking place on the shores of the Ocoee River in Tennesee, but the Ocoee Fest is not just about paddling, it’s also about music, good times, and beer – lots of it.The long Labor Day Weekend is usually reserved for kicking back with a friends and family, celebrating the last gasps of summer, and possibly, maybe getting off your lazy butt at least once to ride a bike or get on the river. Well, at Ocoee Fest, you can do all of this and more. This year’s Ocoee Fest is highlighted by the first ever Ocoee Fest Home Brew Competition. Home brewers will come from across the Southeast to compete for the honor of being the tastiest brew on the river. Along with the home brew, Red Brick Brewing, Sam Adams, Sierra Nevada and more will be on hand at the festival with their suds in tow. The festival will be capped on Sunday by the Beer Olympics with events like Beer Pong, Corn Hole, and Beersbie (whatever that is).As for recreation, the festival is being held on the grounds of Adventures Unlimited in Ocoee, Tennesseee, ground zero for rafting, kayaking, hiking and biking in the area. Plus, paddlers have a reputation for partying hard, especially when they all get together, so that may be all the recreation you need. Plus, there will be music from local and regional bands throughout the weekend from Shark Week, The Whistle Pigs, Matt Woods, and more.Rock Creek will also be on hand selling gear at discounts, and I’m sure giving away some swag as well. Tickets are a scant $20 for two days, including camping, which is the Labor Day deal of the century. So pack up the boat, tent, and bike, and head for Ocoee this weekend.View Larger Maplast_img read more

Does your credit union board represent your members and your future?

first_imgAs the financial services industry becomes more competitive and credit unions continue to face regulatory and economic pressures, having effective board leadership is essential to surviving the challenges that lie ahead. However, according to a CUNA White Paper, “Effective Credit Union Board Succession Planning,” most credit unions do not have a reliable system (or inclination) for attracting the next generation of board members.Having directors who are not fully engaged or who do not represent the interests of all stakeholders can negatively impact a credit union’s ability to make prudent business decisions and meet its strategic objectives. What’s more, if directors don’t possess the basic knowledge required to understand the institution’s financial and accounting practices, or neglect to complete their fiduciary responsibilities, the consequences could result in potential regulatory action, or in the worst cases, cause the institution to fail.Setting the stage for successful board succession planningMaintaining a roster of board members that can lead your credit union for the long-term doesn’t happen organically. It takes planning by existing internal and external leadership, as well as a commitment to staying agile in constantly changing regulatory, business, economic and technology environments.Following are steps you can take to create and maintain effective board leadership:Set board diversity goals to better serve member demographicsFor credit unions that were originally chartered as a Select Employee Group (SEG), board membership was fully representative of that segment. However, in many cases, as new member groups were added, board leadership continued to recruit similar candidates – (friends, members of the same civic organizations, clubs, churches, etc.) to preserve their circle.Take a look at your board membership. Does it accurately reflect your membership demographic today or does it look more like the profile of 20 or 30 years ago? If current director selection practices are merely perpetuating more of the same, it is time to identify what the board should look like, along with the skills and expertise it will need going forward to successfully thrive in an ever-changing marketplace.Cast a wide recruiting netDiversifying board membership requires widening the search beyond the traditional means of recruiting new candidates with the same profile as existing directors. But your efforts will pay off. Not only will more diversity interject new, forward-thinking perspectives to leadership discussions, it can also increase membership from demographic groups that didn’t see a place for themselves in your institution, based on the previous leadership profile.Institutionalize a board succession planning processIf you don’t make succession planning an on-going board objective, it will most likely get passed over by other seemingly more pressing needs. By sticking to a plan that specifies policies regarding board member diversity guidelines, industry/financial knowledge, community involvement requirements and term limits, you can define across-the-board expectations and spend more time dealing with issues regarding the institution’s long-term success.Implement director self-evaluationsWhile it is difficult for board members to evaluate their peers, overlooking poor performance, a lack of commitment or minimal participation in meetings does not serve the best interest of the organization or its members. Setting expectations for board involvement – along with performance standards and a strict peer review process – are keys to maintaining a strong organization.Require continuing education for all board members.While there are currently no requirements for earning professional education credits, Board members should have the knowledge necessary to make informed decisions on the credit union’s behalf. This includes the ability to read and understand a balance sheet, along with current knowledge of technology and compliance issues, such as Regulation E and the Bank Secrecy Act that could have regulatory implications for the institution. The pros and cons of term limitsWhile instituting mandatory retirement age and term limits are sure ways to add new members to the board roster on a scheduled basis, doing so can be problematic for a number of reasons. A board member who is very knowledgeable and involved at age 78 can be much more valuable to the institution than a member in his or her 40s who doesn’t have the expertise or commitment to serve in the same capacity. Likewise, while setting term limits is seen as a way to ensure that board members are objective and independent from institutional leadership, it doesn’t take into account the talent and commitment that can be lost when certain members are forced to step down.Strong board leadership paves the way for a solid futureFinding and maintaining a strong board is an on-going leadership challenge that requires credit union CEOS and board chairmen to work together to understand the needs of their membership community, identify leadership potential in their midst and ensure that sitting board members are providing value to the institution. In today’s rapidly changing environment, staying the course isn’t an option for a credit union that intends to be in the game for the long term. 18SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Keith Hughey Keith joined JMFA in 2012, with more than 35 years of consulting and managerial experience. Until founding his own practice, J. Keith Hughey Company in 2008, he was a principal … Web: www.JMFA.com Detailslast_img read more

The power to fight card fraud sits in the palm of your members’ hands

first_img 22SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Fraud is becoming more and more common. In fact, according to a report released recently by the Ponemon Institute, 43 percent of companies have experienced a data breach, a figure that represents a 10 percent year-over-year increase.While the growing U.S. adoption of EMV security technology will likely reduce card fraud over time, in the near term industry experts are finding that just the opposite is occurring.“Card fraud is on the rise, and credit unions and their members need to remain vigilant,” said Bill Freer, Risk Manager for CO-OP Financial Services.Freer notes that many believe card fraud is increasing today because fraudsters are accelerating their efforts to capture magnetic stripe data before EMV technology replaces the mag stripe for good.“However, even when that day comes, consumers should remain on alert,” he said. “The fact is that the way fraud is carried out is quickly changing today, and consumers need to both understand this paradigm and take the right steps to protect themselves going forward.” continue reading »last_img read more