Monthly Archives: January 2016

US Money Reserve Wonders why the Penny is Still in Use

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Philip Diehl, the president of US Money Reserve, gave his opinion on the continued circulation the penny to PR Newswire on January 26.

While some people may enjoy picking up spare change it can not be denied that the value of the penny has gone down significantly over the years. If a person was to take the time to bend over and scoop one of these coins off the ground today they would be getting paid less for their time than working at a minimum wage job. What makes these infinitesimally small valued coins seem like an even worse idea is the fact that they cost much more to produce than they are worth. In fact, production of pennies costs American taxpayers $105 million each year.

Those who wish to keep the penny in circulation likely have their own best interests in mind as the largest proponents are members of zinc lobbies and those who assist in the production of the coin. One of their most popular arguments is stating that if the penny were no longer in use then companies would be forced to raise prices on consumer goods. In turn this would result in inflation. In a completely cash-based economy this statement may have been true, however in today’s world over three quarters of transactions take place thanks to technology and cash is rarely used. This could allow prices to remain the same when paying with cards. Furthermore, Diehl asserts that many companies would likely round their prices down a couple of pennies in order to try and gain a competitive advantage.

Others still propose that if the penny is to be taken out of circulation, why not the nickel which costs 9.4 cents to produce. The counter argument here is that the nickel could still be reformatted in order to cost less and eventually become profitable, but the penny is already made of 97.5 percent zinc making this impossible.

The US Money Reserve prides itself on expert knowledge and guide while giving superior customer service. These qualities help to make the process of purchasing precious metals as easy as possible. The US Money Reserve is the largest distributor of United States issued gold, silver, and platinum coins. Get coupons for US Money Reserve on RetailMeNot.

Recap of George Soros Comments on Recent News Events

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Russia has banned two foundations operated by billionaire financier George Soros from operating in the country. In an official press release, as reported on Fortune, the government found that the foundations were operating against the foundations of the Russian Federation’s constitutional system and posed dangers to the security of the state.
The Russian government is so interested in destroying Soros’ message in Russia that many reports indicate that his books are being pulled from northern Russian college libraries and burned or shredded. The Russian government, however, denies that this is occurring.
George Soros has been prolific writing about the 2008 market crash. He is the author of two books on the market crash. Those books are The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What it Means. In this book, Soros explains that the 2008 crash was the worse one since 1930. He is also the author of The Crash of 2008 and What it Means where he explains that the world now has a global market where everything is interdependent.
Meanwhile, in statements in Sri Lanka, Soros says that he believes the current economic situation could be as bad as the market crash of 2008. As reported on Bloomberg, Soros says that the major problem stems from China’s move to a consumption and services market and away from an investment and manufacturing market.
In order to try to cope with the problems in China, authorities with the People’s Bank of China dropped interest rates to record lows. The government has also pumped billions of dollars into the economy. Despite these efforts, manufacturing remains sluggish in China.
He also says that the recent Greece-born European money crisis was worse than 2008. He believes that Chancellor Merkel holds the keys to keeping the European Union together, although he feels that there is a 50 percent chance that the union will collapse because of the Syrian refugee problem.
The market seems to agree with Soros’ gloomy predictions. The Chicago Board Options Exchange Volatility Index that traders use to measure fear in the market has risen sharply since January 1. The Nikkei Stock Average Volatility Index used to measure volatility in Japanese stocks has risen even more sharply. Even the Merrill Lynch Index of United States Treasury bills has risen since the beginning of the year.

Coriant Company appoints Shaygan Kheradpir as the new company’s CEO

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Coriant is a recognized company dealing with vast networking solutions that embrace great innovation in the current fast growing and changing market. In the Coriant’s edge-to-core transport solutions, operators have managed to improve network resources utilization, reducing confusion in the operations and bringing up services that generate revenue in the highly demanding business and consumer applications.

Over the years, Coriant has been ranked among the leading network operators existent in over 100 countries. It has in return drawn the attention of many customers. These include, cloud and data center operators, large enterprises, mobile and fixed line service providers, utility companies, government agencies, cable MSOs, content providers and financial institutions.

The founding of Coriant was based on the merging of Nokia Siemens Networks, Tellabs and Sycamore Networks. The solutions offered by the company has in return helped many in realization of end-user service revenue.

Shaygan Kheradpir was appointed the new Chief Executive Officer of Coriant. This was following his executive experience having worked in telecom and technology industries for the past 28 years. Shaygan was born in London but grew up in Iran after which he moved to the United States for his education. He studied at Cornell University where he acquired his PhD, masters and bachelors in electrical engineering.

Shaygan got his first job at GTE Corporation working on network routing, management and control. He afterwards took up the role of the Chief Information Officer still at GTE Corporation. Later on he became the president of Verizon’s e-business division, which was formed by the merging of GTE and Bell Atlantic. Shaygan really helped in diversifying telecommunication services in the company bringing in great automation of the operations.

Kheradpir has also served as the Chief Operating Officer at Barclays bank after which he later on became the CEO at Juniper Networks in 2014. Following his experience in these telecom, technology and financial industries, he was appointed the new CEO at Coriant. Prior to his new role, Shaygan worked closely with the senior management team at Coriant and he was a very active member.

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The Work and Profile of Helane Morrison: Compliance Officer

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The SEC has said it doesn’t feel that anything has changed in terms of how they view compliance officers at money firms, but certain groups don’t agree. They feel at risk and are preparing for further enforcement going forward for 2016. 

To elaborate, in 2015 the SEC charged BLK (BlackRock Advisers LLC) compliance officers with not disclosing an outside business interest of the firm’s portfolio manager to the investors and board of directors. There were also no policies in place to address the activities of the employees responsible for these activities. BlackRock ended up settling and paid a penalty totaling $12 million. The CCO (Chief Compliance Officer) had to pay $60,000.

In June of 2015, the SEC received over $35,000 from SFX Financial Advisory Management Enterprises Inc. The charge was that the compliance officer did not implement policies that were designed to prevent the mishandling of assets under ownership of the client. The charges also stated that there were no annual reviews conducted.

The issue is that the SEC is holding compliance officers responsible for issues that may not have been necessarily foreseeable. The SEC disagrees with this position, however. This hindsight liability poses risks to CCO’s who want to do their best to keep the best interests of the law and of their firms in mind.

Certain people, like Todd Cipperman, think that major investors could end up suing their CCO in the wake of the current SEC actions. When these officials of the SEC claim that a Chief Compliance Officer’s job is to protect the investors, then it means that the CCO needs to uphold that responsibility. They must also balance the law. It will be interesting to see how things turn out in 2016 if the SEC completes its work on a new program.

Helane L. Morrison is General Counsel and Managing Director, as well as Chief Compliance Officer at Hall Capital. Morrison put forth strong efforts to promote fairness and compliance previously as well in her role in the SEC from 1999 to 2007. She represented the legal interests of the SEC in San Francisco.

Practicing law previously allowed her to build her strong experience in commerce. She investigated corporations, using her public and private industry experience. In addition, she is a member of The Regional Parks Foundation board.

Manhattan Condo Prices Close at Record Highs

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Despite a fall soft spot, square foot prices in Manhattan reached an all-time record high closing the year at $1,606. Those prices rose from a 2014 median close of $1,429 at the end of 2014 and a close of $1,408 on September 30, 2015. Driving the prices upward are the availability of new luxury condos that are being released to the market for the first time. Some of these new units include 111 West 57TH Street, One Seaport and Jardim.

Buyers are still willing to spend their money, but at a slower rate than in previous years so many Manhattan condominiums are staying on the market longer than in previous years. This is particularly true of older units.

The amount of square footage that a unit contains is still a major driving force for how quickly the unit will sell, according to The Aggregate released by prestigious TOWN Residential. The quickest selling units were those that contained three bedrooms. These units sold for an average of $4,421,300, a 15 percent increase in 2015 over the previous year. Meanwhile, two bedroom units sold for an average of $2,056,865 and one bedroom units selling for an average of $1,080,000.

Across NYC real estate, buyers can find a variety of condominiums for sale. In fact, there are 7,963 units for sale including townhouses, condos and coops. Not surprisingly, the largest number of condos are available for sale in Manhattan where 4,326 units are for sale.

Buyers find a variety of options available. The largest group, 2,100 units, are priced under $2 million dollars. Buyers looking to spend between up to $5 million can add an additional 1,132 units to their possibilities. The smallest group of available units are priced over $10 million with 493 choices available.

TOWN Residential has quickly risen to the top of the luxury real estate market since the company’s formation in 2010. Under the leadership of Andrew Heiberger and Joseph Sitt.

Bruce Levenson Changing Foundation of Philantropy At University of Maryland

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The Center for Philanthropy and Nonprofit Leadership at the University of Maryland was started three years ago with a grant for startup money donated by Bruce and Karen Levenson. More donations totaling $5.6 million soon followed, all from the Levensons, said a press release from PR Newswire. Innovative courses and programs are offered by the Center. This includes several classes per semester that pay out $10,000 gifts to worthy nonprofits. A program just completed by the Center sent twelve graduate students to India to work at three nongovernmental organizations. One focused on the disabled, one focused on wildlife preservation, and the last was a youth outreach program. For the fourth year in a row, the Center has sponsored the Do Good Challenge. Thousands of students at the University of Maryland will compete in a challenge to make the greatest social impact on their favorite causes. Winners receive $20,000 in prize money to further their causes. Karen Levenson, an alumnus of University of Maryland, calls it leveraged philanthropy at its best. She also feels that the Center has the potential to make a profound impact in terms of worthy causes. Bruce Levenson of UCG feels that the Center has a dual purpose. First students are being taught the skills needed to work in the nonprofit sector. At the same time, the Center ensures that graduates of the University of Maryland will be informed philanthropists when they graduate.

Whether It’s For Dating Or Socializing, Join The Skout Network

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Lauren O’Reilly is someone who works with OkCupid, and her suggestions are very helpful for anyone who’s looking to date online. Those who date online will have a higher success rate if they take some of the advice that she and other dating experts have given in a Washington Post article. Some of the advice includes suggestions on posting a full-body selfie, how many times a person should be written before finally deciding to meet, and it’s very important to start a good conversation. Those that take the advice when dating online are more likely to be successful, especially if they go to the Skout network.

Everyone has a story to tell that’s about how they met someone that they are currently with, whether they met the person through friends or family members or if they met them online. Many people are meeting each other online these days, and more people are dating online than ever before. Over 50% of people date online nowadays, which means that online dating has taken over as the most popular form of dating. Since online dating has become so popular, networks like Skout have become more valuable to those who date.

Those who want to start to find a date on the Skout network have an easy task because all they have to do is create a profile. A person’s profile should tell the world a few things about themselves as well as have some photos for everyone to look at. Profiles that don’t contain a photo are less likely to be visited again, especially if the person continues on for a long period of time and doesn’t add a photo. Those looking for a date or friends on Skout want to see pictures of the people they are talking to, so a picture is necessary.

Looking for different profiles is a great way to determine if someone would be a great friend or date on the Skout network. Many people even send each other greetings back and forth on the Skout network, which can be done by purchasing Skout points. Skout points are purchased by using a debit or credit card online, and then the points are stored away in the user’s account. Whenever the person feels the need to send a greeting or any other type of gift to a Skout member, then they can use their Skout points to purchase these features.

Skout points are not only good for purchasing things to give to others on the Skout network, but the Skout points are also a good way to pay for the Skout Travel feature, which allows a person to travel virtually to many foreign destinations on the Skout network. Skout Travel is also a good way to seek out future getaways, especially if a person is curious about other countries that they have never visited before.