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Related marketing Neiman’s Hudson Yards store as office

first_imgNeiman Marcus at Hudson Yards (Getty, iStock)With Neiman Marcus in bankruptcy, the Related Companies is marketing the department store’s space at the Hudson Yards mall to office tenants.Related and co-developer Oxford Properties are marketing Neiman’s 190,000 square feet and other retail space as office use, according to Business Insider. In total, the developers put 380,000 square feet at the top of the mall — or roughly 40 percent of the shopping complex — on the market.A representative for Related declined to comment to Business Insider and a spokesperson for Oxford did not respond.Read more Neiman Marcus bankruptcy could spell doom for Hudson Yards” Related’s CEO talks Hudson Yards and “complicated” projects Neiman Marcus files for bankruptcy The move is a remarkable change in strategy for Related and Oxford, which once considered the retail component to be the most valuable aspect of their $25 billion Hudson Yards megaproject.The developers spent $80 million building out the store for Neiman, which they used as an anchor to lure other retail tenants. Related and Oxford developed the adjacent office towers and sold some of those spaces off at-cost, figuring they would drive value at the development by filling the office towers with workers who would shop at the mall.But the city’s retail market had suffered in the years since Related and Oxford hashed out plans for the complex, and the coronavirus shut down has made matters worse.Neiman filed for bankruptcy earlier last month. [Business Insider] – Rich Bockmann Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink TagsHudson YardsNeiman MarcusOxford Properties GroupRelated Companieslast_img read more

Gensler expected to put teeth in Reg BI — not overturn it

first_imgInvestor advocates and other experts expect Gary Gensler to strengthen the broker investment advice standard his predecessor put in place rather than redo it when he takes over the Securities and Exchange Commission. 2 It can be strengthened while avoiding such fireworks, Roper said. For instance, the SEC could adopt a principles-based definition of “best interest’ and strengthen conflict-mitigation requirements. “Gary’s pragmatic,” Roper said. “There’s a lot you can accomplish within the framework of Reg BI to make it live up to its ‘best interest’ label.”Knut Rostad, president of the Institute for the Fiduciary Standard, also expects Gensler to bolster Reg BI without killing it. “His changes to Reg BI will make it a reality-based rule rather than a myth-base rule,” Rostad said. Gensler will pursue aggressive enforcement of Reg BI rather than waste political capital scrapping it, said James Lundy, a partner at Faegre Drinker Biddle & Reath. “It makes more sense to utilize resources to enforce Reg BI as opposed to utilizing resources to overturn Reg BI,” said Lundy, a former SEC senior trial counsel in enforcement.The Financial Services Institute, a proponent of Reg BI, also wants to see it remain in place.“The SEC has achieved significant accomplishments in recent years, particularly with Reg BI, which enhances investor protection while preserving investors’ access to their choice of financial products, advice and services,” FSI chief executive Dale Brown said in a statement. “We are committed to working with all commissioners, including Gary Gensler if he is confirmed by the Senate, to build upon its achievements and ensure rulemaking that is effective and workable for all stakeholders.” Although Gensler has gone through the revolving door from Wall Street leader to a Washington regulator, he maintains the confidence of investor advocates through his work to reform swaps markets following the financial crisis while at the CFTC from 2009 to 2014, and his work as chairman of the Maryland Financial Consumer Protection Commission. 3 InvestCloud to acquire Advicent and NaviPlan planning software 1 4 5 House committee poised to advance SECURE 2.0 retirement savings billcenter_img “Gary Gensler worked in the jungle of Goldman and applied what he learned at the CFTC,” Rostad said. “He is going to be able to get regulations through that are going to address the real issues regarding the markets because he has been there and can speak to the industry from his experience in the way other SEC chairs have not been able to do. He’s not there to punch a ticket on his resume. That means independence, and that is huge.”When Gensler went to the CFTC, Wall Street may have anticipated a friend in a high place. But he quickly changed that perception, said Ashley Ebersole, a partner at Bryan Cave Leighton Paisner.“He was not afraid to go after large financial entities, such as banks and investment banks, and punish wrong-doing there,” said Ebersole, a former senior SEC enforcement counsel.Gensler is likely to bring that attitude to the SEC along with a focus on consumer protection that comes from his experience as head of the Maryland commission.“In the Maryland position, he focused on increasing consumer protections, including standards of conduct and care for regulated entities,” Ebersole said. “So you’d expect the SEC to continue its laser focus on consumer protection, including through an aggressive enforcement posture.”Like other Democratic SEC chairmen, Gensler will emphasize enforcement, Lundy said. “We’ll see an aggressive enforcement climate.” The Gates divorce: Lessons for financial advisers President-elect Joe Biden said on Monday he will nominate Gensler to be the next SEC chairman. If he’s confirmed by the Senate, Gensler will give the five-person panel a 3-2 Democratic majority.A former chairman of the Commodities Futures Trading Commission, former Treasury Department official and former Goldman Sachs executive, Gensler has developed a reputation as a tough regulator who also was successful on Wall Street.“We couldn’t have asked for a better selection,” said Barbara Roper, director of investor protection at the Consumer Federation of America. “He brings the insider’s level of expertise about the market combined with an unwavering commitment to investor protection.”Roper and other investor advocates criticized Regulation Best Interest, the broker advice standard that went into force last June, for being too weak to curb broker conflicts. It was the signature rulemaking of former SEC Chairman Jay Clayton, who said it is significantly stronger than the previous broker suitability standard.  Gensler likely will amend Reg BI rather than end it and start over, Roper said. Torching Reg BI would ignite a battle with the financial industry, which mostly supported the measure. House panel unanimously passes SECURE 2.0 Why Tony Robbins, tax shelters and financial advisers don’t mix For reprint and licensing requests for this article, click here,MOST READ Newsletters Subscribe for original insights, commentary and analysis of the issues facing the financial advice community, from the InvestmentNews team.last_img read more

Rahul Gandhi, Congress party’s political NPA

first_imgIt’s highly frustrating to observe that Rahul Gandhi continues to score a ‘self-goal’ on some daily basis. It also goes without saying that his mindless outbursts against PM Narendra Modi, on some daily basis, is badly tarnishing his own image. While he never applies his own mind before regularly pressing his hot favourite ‘Anti-Modi’ button but he also refuses to listen to a few sane voices within his own Congress party. However, his claim that ‘if’ Congress party comes to power, it will throw the Chinese PLA out of India, within ’15 Minutes’ speaks volume about his immature political credentials and it amply proves that he is totally ‘unfit’ for nation’s political arena. Truly speaking, his past track record is too ‘glorious’ to be enumerated here. In fact, he has turned out to be a virtual ‘political NPA’ not only for the Congress but for the entire nation as well. It’s a different matter that some of the Congressmen (read: His Master’s Voice) are still ‘dreaming’ that Rahul Gandhi is the Prime Ministerial ‘stuff’ and that historic day is not quite far off. Needless to say, their such act of ‘hoping against hope’ could be the biggest joke of the 21st century. But, who knows, he may soon have to pack up and leave politics forever if he does not make quick amends in his recalcitrant attitude and learns to behave rationally and realistically in his public life. Mind you, time and tide wait for none. Who knows, the Congress party may soon achieve the dubious distinction of acquiring the status of some ‘regional party’ under the leadership of Rahul Baba?last_img read more

Yeah!! I’m an Over-thinker!!

first_imgHello Everyone,We generally can’t say or define how much a person should think on something still lots of time we state a person as an over-thinker, But on what basis??It’s very often seen that being an over-thinker is taken up as a negative thing or tag but can anyone state why?? Why someone should not over-think on something??If there’s something going on related to the things matter to us that will obviously make us over-think. We might say in front of others that it just doesn’t matter to us & we aren’t thinking about it but deep down, inside a corner of our heart, we keep on thinking of that thing. So what we are actually afraid of?? Of those persons who will state us an over-thinker!! Like, c’mon….If there’s something which matters will bother us & will lead us to over-think & there’s nothing wrong in that.So let’s start accepting ourselves!!Yeah!! I’m an over-thinker!!last_img read more

National Express backs road safety campaign

first_imgNational Express is supporting Highways England’s ‘Don’t be a Space Invader – stay safe, stay back’ road safety campaign to highlight the risks of tailgating.Chris Hardy, Chief Executive Officer of National ExpressA retro ‘Space Invaders’ poster will feature on the rear of 12 of the operator’s coaches, and stickers have been added to bumpers of the remaining 500-plus fleet of vehicles to remind drivers travelling at speed that tailgating is dangerous.One in eight of all road casualties are caused by people who drive too close to the vehicle in front, with more than 100 people killed or seriously injured annually, according to campaign statistics.“As the UK’s largest coach operator, we experience tailgating of our vehicles and fully endorse the message to not be a Space Invader and leave enough room,” says National Express Chief Executive Officer Chris Hardy.last_img read more

Boris Johnson can’t have it both ways, says French Socialist leader

first_img“But the [other countries] need to be very firm,” she added.While a democratic vote was worthy of respect, Guigou said, Britain would be the first victim of its decision to leave the European Union as economic consequences took their toll.“It’s very sad. I hope we can preserve the quality of our bilateral relations,” she said.For the rest of the European Union, she said, it was essential to move ahead quickly with reforms that would inspire new confidence in the project and stave off Euroskepticism.Guigou identified defense, security and jobs as the main areas upon which European nations, led by France and Germany, had to concentrate to give new life to the EU.“All of this is going to require some very serious soul-searching,” she added. Former London Mayor Boris Johnson and other Brexiteers need to get real about what they have done and quickly sign divorce papers with the European Union, a prominent French Socialist MP said Friday.Johnson, who was the “Leave” campaign’s figurehead, said after the Brexit vote there was no need to start negotiating terms of Britain’s withdrawal from the EU, and that his country was “no less European.”“That does not surprise me at all coming from Boris Johnson,” said Elisabeth Guigou, head of the French National Assembly’s committee on foreign affairs. “[Brexit campaigners] are in no rush to deal with the consequences of this vote.” Paris, Berlin and other EU capitals had been engaging in intensive talks over the past few weeks to sketch out the contours of a reform package.“At the end of the day, though, it’s not going to be about a piece of paper. It’s going to be about a demonstration of political strength and will,” Guigou said. Also On POLITICO Boris Johnson can’t have it both ways, says French Socialist leader By Nicholas Vinocur European Parliament to Britain: Don’t let the door hit you as you Leave By Hortense Goulard Symposium Britain’s Out. Now what? By POLITICOlast_img read more

2009 Tour de France: Stage 12 – Sorensen Solo’s for Win, Overall Unchanged

first_imgSaxo Bank’s Nicki Sorensen powered himself to a solo win of today’s Stage 12 of the 2009 Tour de France , the second longest stage of this year’s race at 211.5km.After fast-paced attempts by numerous riders, including Millar (GRM) and Pellizotti (LIQ) King of the Mountains points leader Egoi Martinez successfully broke away at 64km. Accompanied by riders from Saxo Bank and Liquigas, Martinez wanted to rack up small points over the day’s six low-level hills to cement his ownership of the Polka Dot Jersey. Any gains today are just insurance against a performance lapse when the race hits the Alps.A chase group including Andy Schleck and Cadel Evans pushed forward, but was caught by 73km. Almost immediately after the catch, Saxo Bank’s Nicki Sorensen soloed out and bridged the gap to the seven-rider breakaway.In the peloton, none of the sprinter’s teams seemed eager to chase down the break, and only AG2R had motivation to keep the time gap as low as possible since Sorensen was the only long-shot threat to the overall classification. Surprisingly (since he had previously said he wouldn’t contest them), Cavendish attacked for the intermediate sprints during the stage, taking top points for one of the day’s three sprints and increasing his points lead over Hushovd. The difference between the two is only 10 points (200 vs. 190), and the contest will likely be a close one right up to the end.In the break, Pellizotti led Martinez over every points climb, moving himself into second place for the KOM contest, and the break started adding minutes to their time advantage.At 23km to go, Sorensen surged ahead of the break, quickly putting a never-comfortable 15 seconds between him and the break. Calzati (AG2R) followed him but couldn’t stay on his tail. POSRIDERTEAMTIME By the end of the day, Sorensen put a solid 48 seconds on the break and a whopping 5’58” on the peloton. He started the stage 10:36 behind Nocentini, but his herculean solo effort moved him within striking distance of the top 10 general classification.Nocentini remains in Yellow, keeping the Italians happy another day.NOTES: Evans crashed near the end, but was uninjured and will get the same overall finish time as the peloton. Faria Da Costa (GCE) didn’t start today’s stage after tearing ligaments in a crash yesterday.2009 TOUR de FRANCE STAGE 12 TOP 10 6S. CalzatiAGR+48″ 8M. CavendishTHR+5’58” 6A. KlodenAST+54″ 10M. BandieraLAM+5’58” 10V. NibaliLIQ+1′54″ 8C. Vande VeldeGRM+1′24″ 4M. FothenMRM48″ 2A. ContadorAST+6″ 9T. HushovdCTT+5’58” 9A. SchleckSAX+1′49″ 2009 TOUR de FRANCE OVERALL STANDINGS AFTER STAGE 12 POSRIDERTEAMTIME 5B. WigginsGRM+46″ 7R. ParuiolCOF+1’33” 1N. SorensenSAX4h52’24” 1R. NocentiniALM48h27’21″ 3F. PellizottiLIQ+48″ 2L. LefevreBBO+48″ 7T. MartinTHR+1′00″ 4L. LeipheimerAST+39″ 3L. ArmstrongAST+8″ 5E. MartinezEUS+48″last_img read more

Rolf Prima builds ultralight Eos3 road carbon clincher with new U.S. made rim

first_imgRolf Prima says the design is both light and aerodynamic, getting a 32mm deep, 25mm wide profile. They roll on Enduro Zer0 ceramic bearings.“Several years ago we set out to do as much as we could in house and in the USA. In this project we chose one of the hardest things to develop: a tubeless compatible, light weight, rim brake carbon clincher. This required us to think more creatively and develop a new tooling system from the ground up, which was pretty exciting,” said Rolf Prima Senior Engineer, Joel Wilson. “The quality of tooling and innovative tooling design makes it possible to achieve the light weight rim that we were looking for.”Price is TBD, expect them to ship in May 2016. We’ll have more info on these and several other new wheelsets from them at NAHBS this Rolf Prima is on a mission to build their wheels from U.S. parts, going so far as to build their own alloy rim rolling facility. Now, they can add carbon rims to that list, too!Made in the Pacific Northwest near their Eugene, OR, headquarters, the new rim is a tubeless ready, rim brake clincher that was two years in development. It’s laced to their TdF6.0 hubs, which get a “special ballistic coating” and use White Industries’ titanium Freehub body and newer T2 rapid engagement internals.The result is the new Eos3 wheelset. Using just 30 total spokes between the two wheels, they weigh in at a scant 1295g…last_img read more

Blue Flame, Liberty Propane give CVOEO $10,000 for WARMTH

first_imgVermont Business Magazine Blue Flame and Liberty Propane (both AmeriGas companies) has presented the Champlain Valley Office of Economic Opportunity with a check for $10,000 for their WARMTH Program. The check was presented on June 29 to Jan Demers, CVOEO Executive Director, by Bill Rhino, account manager for AmeriGas. The WARMTH program aids local residents in need of funding to help individuals and families heat their homes during times of crisis.According to Bill Rhino, “AmeriGas and its employees are thrilled to be able to provide to our community in this way.”“CVOEO is a fantastic organization doing amazing work – Project WARMTH has helped more than 80,000 families facing heating emergencies in the middle of Vermont’s cold winter,” said Becky Newsome, area sales manager for the AmeriGas companies in New England. “They share our dedication to our community and it’s so nice to be able to make this contribution.”last_img read more

Shawnee Mission Faces: Kevin Roepe, metal detectorist and treasure hunter

first_imgSince he got into metal detecting eight years ago, Kevin Roepe has collected hundreds of knick-knacks, trinkets, precious items and historical artifacts, plus maybe $500 worth of coins. He’s found silver coins, including an 1882 dime featuring the seated Lady Liberty, Civil War era buttons from Union Army uniforms and musket balls from the mid-1800s.He’s done most of his metal detecting on family property near Concordia, Missouri, but also all over the Midwest, especially in the Shawnee Mission area. He sweeps yards for those who ask and finds long-lost items for them, such as wedding rings and other jewelry. Roepe also tries to track down owners of items that have identifiable information. He keeps many of his treasures in a family heirloom: his wife’s great-great-grandmother’s cracker box.Roepe earned his bachelor’s and master’s degrees in civil engineer at the University of Missouri in Columbia and now works in environmental health and safety for Dairy Farmers of America in Kansas City, Kansas. He serves in the U.S. Marine Corps Reserve. Besides metal detecting, he enjoys the outdoors — camping, hunting, fishing — as well as home renovations. He lives in Prairie Village with his wife, Lexi, and their two daughters and two German shorthaired pointer dogs.I was in the Marine Corps, active duty, and stationed at Camp Pendleton in southern California. We were fortunate enough to live on the beach, in base housing. Lexi’s the kind of person who can just lay on the beach and soak in the rays. I have to be doing something. I got bored of just going down to the beach and sitting there, so I thought I’d get a metal detector.So I went and bought one off of Craigslist, just a fairly inexpensive detector at the time and did a lot of beach detecting.We lived in California for another roughly three years, and I upgraded, purchased a new detector and still did primarily beach detecting. So really, all you’re finding there is jewelry and coins and change, nothing of historical context.(Most of the time, his parking fees wouldn’t cover what he found metal detecting that day, his wife joked.)So then, we moved back here. And obviously, with a lot more history as far as Civil War-era type history, I started kind of looking and detecting places that had more history to them.In this area, most of the time, houses that have yards from 1950 and older is where you really start finding good stuff in the ground. Neighbors, friends, the occasional park — although you get a lot of junk at the park, like pop tabs and bottle caps and stuff like that. You find a lot of that in yards, too.A lot of people think, when you ask people to metal detect their yards, people are like, “Oh, you’re going to tear up my yard!” But that’s not the case at all. You literally pop a plug, and you’ve got a pinpointer that’s going to get you right to where it’s at, you retrieve the object, clean it off, put the plug back and you can never even tell something was there. After the first rain, you’ll never know.Well, for a horseshoe or something large, it can detect down two feet. But if it’s that big and it’s iron, I usually don’t bother because it’s usually a hunk of junk.As far as coins go, there’s something about finding a silver coin. Because when it pops out of the ground, you can tell it’s silver right away, it still has a shine to it. It’ll tarnish a little bit, but you always know when you dig up a silver coin.I don’t know, it’s just kind of, for me, again, it’s not about the value of any of the stuff I find. It’s the historical context. And you never know what you’re going to dig up. You find something, you have no idea what it is and then you do a little research to find the history behind it. It’s just pretty cool.For instance, there was the first Civil War-era artifact I ever found. I found it on my cousin’s farm near Concordia. When I moved back to this area, I learned that my uncle — his name’s Tom Gieseke, he’s in Westwood — also has a passion for metal detecting. So we go out together a lot of times and we detect together. He’s been doing it for 40-some odd years. So anyway, we were detecting together out there, and I had a real iffy signal. I thought it might be trash but I decided to dig it anyway, and it was probably a good 10 inches down.When I first found it, I thought it was junk, and it wasn’t until I cleaned it off and could make out the eagle and did a little research and found out: that was a button off of a Union infantry soldier’s uniform. That’s when I was really like, this is pretty cool to uncover something that had been literally in the ground for, at this point, about 150 years. Otherwise, it’d probably be lost. If I didn’t uncover it, it would have just disintegrated at some point and been lost forever.It’s the thrill of the chase. I love finding something, when you first pull it out of the ground, you have no idea what it is because it’s still dirty, encrusted in dirt. Then you clean it off, get it home, do a little research and you find out it’s something from the early 1900s. I’m uncovering history.I’ve got a token that I found that was super crusty. Once I got it home and cleaned it off, it was from the 1904 World’s Fair. It ties back to a real event, a real thing in history and it makes you wonder: who dropped it?last_img read more