Spanish builder ACS makes a $3.5bn stock bid for German rival Hochtief

Posted On Sep 4 2021 by

first_img whatsapp Spanish builder ACS makes a $3.5bn stock bid for German rival Hochtief Share Thursday 16 September 2010 8:45 pm KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ whatsapp SPANISH builder ACS plans a lowball bid for German counterpart Hochtief in a move aimed at securing funds to reduce debt and buy a bigger stake in power group Iberdrola.ACS, which already owns 29.9 per cent of the largest German building company Hochtief, announced plans for the nil-premium offer yesterdfay.ACS is bound by German takeover law to make an offer for the whole company once it has crossed the 30 per cent threshold. With a low bid, ACS expects rejection, but will then be allowed to increase its stake incrementally without paying a premium.ACS confirmed that a stake of just over 50 per cent is its target. Analysts said that would allow it to consolidate the cashflows of Leighton Holdings, which make up 82 per cent of Hochtief’s first-half pre-tax profit, into its balance sheet.“Hochtief’s main charm is Leighton Holdings and this is definitely also appealing to ACS, and other companies for that matter,” analyst Heino Ruland of Ruland Research said. ACS, is headed Florentino Perez. Tags: NULLlast_img read more


3 reasons I won’t be investing in buy-to-let property in 2021

Posted On Jul 5 2021 by

first_img Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Simply click below to discover how you can take advantage of this. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Buy-to-let is a popular way of generating a second income stream. I’ve never been keen on the buy-to-let model of investing, but for many it’s an exciting venture. And that dream is alive and well this year thanks to the stamp duty holiday created from the coronavirus crisis. This has spurred a mini property boom with both buy-to-let landlords and residential buyers. However, according to the Halifax, which is Britain’s biggest mortgage lender, the increase in average property prices now far outweighs any stamp duty holiday savings.While I understand the structure of the buy-to-let property market, I much prefer investing in shares. I find it fascinating, plus it’s fairly simple and I can start with little capital. Here are three reasons I won’t be investing in buy-to-let property in 2021.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…A housing market crash could be imminentThe property sector looks dicey to me, with so many people losing their jobs and businesses closing down. In fact, there’s a good chance house prices could crash in 2021 in some parts of the country, and that could make the stock market crash look tame. That’s because the stamp duty holiday created a surge in buying activity, pushing house prices up.In fact, UK house prices are at an all-time high in some areas. It’s not just the stamp duty holiday, though. People seeking to escape the confines of their lives for something new have also exacerbated this trend. Idyllic rural areas are seeing an upturn in demand and in house prices, in some places as people migrate.Unfortunately, this might not be sustainable without government support, so there is a chance a housing price correction could happen.Investing in buy-to-let requires a large lump sumThere’s no getting away from it, I need a large lump sum to get started in buy-to-let property investing. It’s a reason so many people struggle to get on the property ladder in the first place, let alone afford to buy a second property.The stock market doesn’t require huge sums of money to get started. With a Stocks and Shares ISA I can begin with as little as £25 a month. The more money I can invest, the quicker I’ll achieve financial freedom, but the barrier to entry is low. Therefore, the sooner I start, the sooner I’ll build my wealth. I like a buy-and-hold approach to stock market investing because it’s a great way to build a stake in high-quality businesses gradually. With careful monitoring and research, I can build a stocks portfolio that brings me a nice regular income.The stock market is much less hassleThe vaccine rollout gives us hope of a return to normality. With it, companies can get back on track. Brexit still looms large, but it will soon be done and we can begin rebuilding the economy again. Buying and selling shares is easy when sticking with high-liquidity markets such as the FTSE 100 and FTSE 250. If I want to sell shares in a company, I can do it straight away, whereas if I want to sell a property it could take months. There are also very high fees, maintenance and property management woes to contend with in the buy-to-let game. Share-dealing fees are tiny in comparison, and I can do it all without ever leaving my home. “This Stock Could Be Like Buying Amazon in 1997” Image source: Getty Images Enter Your Email Address Our 6 ‘Best Buys Now’ Sharescenter_img Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. See all posts by Kirsteen Mackay Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! 3 reasons I won’t be investing in buy-to-let property in 2021 I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Kirsteen Mackay | Sunday, 13th December, 2020 last_img read more


DEC launches Liberia appeal

Posted On Jun 16 2021 by

first_img AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 12 August 2003 | News DEC launches Liberia appeal Tagged with: Digital Giving/Philanthropy  28 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis The Disasters Emergency Committee (DEC) has launched an emergency appeal for its 11 charity members working in Liberia.The charities involved in the Liberia Crisis Appeal are Actionaid, British Red Cross, Cafod, Care International UK, Christian Aid, Concern, Merlin, Oxfam, Save the Children, Tearfund and World Vision. The appeal runs from 12 August to 12 September 2003.The DEC is encouraging Web site owners to place a banner advert promoting the appeal on their Web sites and link to the DEC site. In return the umbrella body will report back to participating Web site owners with details of how much the appeal has raised,as well as reminding them to take down the banner. Oddly, there is only one banner and, at 360 x 60 pixels, that is not in a standard size. Advertisement About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more


Sunday Times Rich List published in book form for first time

Posted On Jun 16 2021 by

first_img Howard Lake | 21 November 2005 | News About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Tagged with: Prospect research  21 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis The Sunday Times Rich List 2005-2006 costs £195, although the publishers are offering reductions on this fee via other publications.The book is listed in the UK Fundraising Bookshop.center_img After 15 years’ publication, the Sunday Times Rich List is appearing in book form for the first time, and in an expanded format, listing 5,000 of Britain’s wealthiest individuals.A&C Black, publishers of Who’s Who, have published The Sunday Times Rich List 2005-2006, offering 4,000 more individual profiles than the annual newspaper feature. Compiled as usual by Dr Philip Beresford, the book covers the wealthiest people and families in the UK and Ireland, based on identifiable wealth, whether land, property, art, race horses, or significant shares in publicly quoted companies. Subjects are profiled and their contact details included.In addition the book features analysis and graphs such as wealthiest regions of the UK, male/female wealth split, top 50 Lottery winners, wealthiest by sector such as music or property, and the 20 fastest growing fortunes. Advertisement AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Sunday Times Rich List published in book form for first timelast_img read more


Delgado Warns of Potential Concerns in Housing Market

Posted On May 31 2021 by

first_img Ed Delgado Housing Bubble UT Austin 2017-09-29 Brianna Gilpin Ed Delgado, President and CEO of the Five Star Institute, delivered the keynote presentation at the 51st Annual William W. Gibson, Jr. Mortgage Lending Institute hosted at the University of Texas at Austin School of Law on Thursday. The two-day conference is focused providing professionals with continuing education in financial services legal practice on topics such as developments from the Texas legislature, foreclosure best practices, mortgage loan modifications, and issues for lenders to avoid.Delgado’s presentation, titled “U.S. Housing Market Trends: An Insider’s Perspective,” focused on providing insight into the root causes of the housing crisis and recognizing the market indicators which could lead to the creation and bursting of another bubble.“The patterns we see today in the housing market include some troubling signs,” said Delgado.Several metropolitan statistical areas are showing home price appreciation in the double digits and housing inventory is extremely tight, troubling for the market to be sure. But it’s unlikely that a housing downturn would be felt on the same level as the crisis of the previous decade. Delgado argued that the safeguards that have been put in place (the installation of the CFPB and tighter credit controls for example) in the wake of the crisis coupled with the virtual disappearance of subprime lending at any appreciable level make it more likely that that there will be microbursts of bubbles in areas where the market is overheating, not the nationwide meltdown that brought the nation to the brink of financial collapse.“At its core, the financial crisis of the previous decade was fueled by greed and unchecked market exuberance but a different atmosphere and attitude towards lending exists in the mortgage industry today,” Delgado said. “Now the market faces a threat of a different kind. Recognizing the current indicators that could spell trouble is vital to ensuring policies are put in place that protect homeowners.” Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Related Articles Previous: Ocwen Financial Corp Comments on 15 State Resolutions Next: Three Ways to Ensure Effective Repair Management September 29, 2017 1,589 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days agocenter_img About Author: Brianna Gilpin Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] in Daily Dose, Featured, Headlines, Market Studies, News Delgado Warns of Potential Concerns in Housing Market The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Home / Daily Dose / Delgado Warns of Potential Concerns in Housing Market Sign up for DS News Daily Tagged with: Ed Delgado Housing Bubble UT Austin Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more


LTC told works are imminent on Kirkstown and Circular Roads

Posted On May 27 2021 by

first_img WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Letterkenny Town Council has been briefed on its roads programme for the year, with long awaited surfacing on the Kirkstown Road due to start within the coming weeksMeanwhile, members have been told that €30,000 has been made available for safety works on the Circular Road.Cllr Gerry Mac Monagle says that when other funding is factored in, the amount being spent is double that………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/02/gerry830.mp3[/podcast] By News Highland – February 15, 2011 News Google+ WhatsApp Google+ Facebook Previous articleDonegal benefitting from new cross border health programmeNext articleSoccer – Fanad Utd Awarded A Licence News Highland Twitter LTC told works are imminent on Kirkstown and Circular Roadscenter_img Pinterest Three factors driving Donegal housing market – Robinson Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly Facebook Twitter RELATED ARTICLESMORE FROM AUTHOR Almost 10,000 appointments cancelled in Saolta Hospital Group this week Calls for maternity restrictions to be lifted at LUH Pinterestlast_img read more


County Council settles with revenue after defaulting on taxes

Posted On May 27 2021 by

first_img Google+ Twitter Guidelines for reopening of hospitality sector published Almost 10,000 appointments cancelled in Saolta Hospital Group this week Pinterest WhatsApp RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH It’s emerged that Donegal County Council has reached an €800,000 settlement with the revenue commissioners after a PAYE and PRSI audit in 2008 found a number of irregularities in allowances paid to staff.Briefing members on the settlement, the county manager said the irregularities arose because of a national change in the way allowances were calculated, and measures are being put in place to ensure it doesn’t happen again.The irregularities arose in the area of site supervision and fixed travel allowances for certain outdoor staff, along with related subsistence allowances. County Manager Michael Mc Loone says the problem arose when what had previously been a standard allowance was changed to a requirement that specific transactions be identified and claimed for.The new rates were agreed nationally, but had to be changed later based on revenue interpretation.A total of just under €800,000 was paid by the council, including €250,000 in interest and penalties. Mr Mc Loone told the council that procedures have been put in place to reduce the liklihood of this happening again, including upgrading of the council’s financial management system and a full review of how allowances are calculated and paid. Three factors driving Donegal housing market – Robinson News Facebookcenter_img Pinterest County Council settles with revenue after defaulting on taxes Previous articleMark McShane’s family react to increase in attackers sentencesNext articleBloody Sunday families want Saville report date News Highland Twitter Google+ LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp Facebook By News Highland – February 23, 2010 Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more


Big hearts

Posted On May 24 2021 by

first_img Remember America’s heroes on Memorial Day Ken and Mindy sat down with their two young daughters, Ariel and Julianna, who were seven and five years old at the time, and talked with them about being a foster family. The girls were all for it.But for Ariel, it was conditional.“I had to be the oldest,” she said with a smile. “I already had a brother and a sister and I liked having children to play with.”Mindy was operating a home day care with seven to eight children so a house full of children was the norm for the Williams’ children. Latest Stories Email the author Big hearts Pike County Sheriff’s Office offering community child ID kits “We both wanted a large family, and I had been thinking about us being foster parents for a long time,” Mindy Williams said. “Ken said, yes, when he was ready.”The couple had three children before Ken “was ready.”“We thought being foster parents was what we could do to contribute to society,” he said. “It was something that we could do to help those less fortunate.” By Jaine Treadwell By The Penny Hoarder Published 12:00 am Tuesday, September 15, 2009 Book Nook to reopen Around the WebMd: Do This Immediately if You Have Acid Reflux (Watch Now)Healthy LifestyleIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthRemember Them? I’m Sure Their New Net Worth Will Leave You SpeechlessbradofoThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel Troy falls to No. 13 Clemson You Might Like Vaccine clinic coming Local school children will have the opportunity to get protect themselves from the H1N1 flu next month. Pike County Schools… read more So, when foster children came into their home, the Williams’ children welcomed them and the transition was a rather easy one.“But it was hard to say goodbye when they left,” Ariel said.Ten foster children were part of the Williams family for a while. Four “adoptable” children are now “our children.”Victor, age six “almost seven,” came into the family when he was four years old. Janae was adopted at 12 months.The Williams later had an opportunity to adopt Victor’s half brother, Ethan, and, about a year later, Janae’s half sister, Marissa.“Ethan and Marissa came to us from the hospital,” Mindy said.Marissa, like her sister, is medically fragile.“Marissa was a two-pound preemie,” Mindy said. “She has a lung disorder, eye issues, asthma, food allergies and she has a G-tube. She has many medical problems but she is a happy, wonderful little girl. And, she is ours.”Janae has congenital heart disease and is possibly facing surgery. She came to the Williams family from multiple homes.“She didn’t talk for a while but once she started, she hasn’t stopped,” Mindy said, laughing.All of the adopted children came to the Williams family with physical issues and/or developmental delays. All were drug exposed.Ken refers to his wife as Super Mom and she has the tools necessary to be just that.She was a pediatric nurse prior to becoming a stay-at-home mom. She is familiar with the children’s medical conditions and with the required and necessary health care the children needed.The couple’s son, Eric, age seven, has autism so they already had experience with speech and occupational therapists and other specialized needs of the newest members of their family.All of the children are home schooled and Mindy said that is the best educational option for the children.“Victor and Ethan could not handle being in a classroom with 24 other children,” she said. “Our children learn from each other and with each other. Sometimes, when I’m reading to the older children, the younger ones come and want to listen.”Doctors’ appointments come often so school sometimes takes place in the car. No opportunity for learning escapes Ken and Mindy Williams.“Sometimes it gets crazy,” Ken said. “But it’s fun. We have a good time together but sometimes Mindy and I have to stay up later than we’d like just to get some quiet time, to read or check our e-mail.”He laughingly said there are a few times when they wonder if they haven’t bitten off more than they can chew. But those thoughts are quickly wiped away by the smile of a little dimpled boy or a little girl with bright red hair who have life the best it can be because a nurse had an idea and her husband said, I’m ready.” Penny Hoarder Issues “Urgent” Alert: 6 Companies Are… Ken Williams didn’t have a point of reference for the life he’s now leading.When he was growing up in Troy, all the families he knew had two to three children, so he never imagined that he would be the father of seven.But then neither did he think he would marry a girl with a heart as good as gold and all the instincts of a mother hen. Sponsored Content Print Article Plans underway for historic Pike County celebration Skiplast_img read more


The Covid churn: Inside resi brokerages’ recruiting games

Posted On May 12 2021 by

first_imgClockwise from top left: Scott Durkin, president and COO of Douglas Elliman; Bess Freedman, CEO of Brown Harris Stevens; Adam Mahfouda, founder and CEO of Oxford Property Group; Rory Golod, Tri-State president of Compass; Pam Liebman, CEO of the Corcoran Group; David Walker, CEO of TriplemintIt’s a long-held tenet of the business that agents switch firms when times are bad — and few years in recent memory have been worse than 2020. “When the market is super strong… agents don’t really move,” said Scott Durkin, president and chief operating officer of Douglas Elliman. “That’s a natural evolution of the business.” Now, a volatile market has sent brokers running, some from the business altogether. Nearly 4,000 agents terminated their licenses between January and December, a 9 percent drop from 63,835, according to Corofy, a data firm which tracks agent movement. Manhattan lost 2,372 agents, while Brooklyn, the Bronx, Queens and Staten Island lost a combined 1,562.“The number of agents today is the most important metric,” said Eddy Boccara, Corofy’s founder. “I really consider the agents to be the consumer of the brokerage.” The drop in headcount is understandable: Many agents saw their income virtually dry up overnight when the pandemic hit. And though the national housing market is roaring, New York City is struggling with an oversupply of high-end condominiums, banks tightening lending standards and buyers’ preferences for more space and private outdoor areas. All told, Manhattan sales fell 46 percent year over year in the third quarter of 2020; in Brooklyn and Queens, deal volume fell 43 and 40.5 percent, respectively. “It’s a time of enormous dislocation,” said Frederick Peters, CEO of Warburg Realty. “For a great many real estate agents, I think it’s really created a lot of fear.” The climate hasn’t stopped brokerages, many of which had to make cuts in the early days of the pandemic, from recruiting. Brokerages always want to grow market share by adding more “consumers,” as Boccara put it, but the landscape has become more challenging with more competition, slower sales and fewer agents. Though firms may not have the financial resources to offer big signing bonuses, many have placed an increased focus on rolling out tools to boost productivity, both for existing agents and to lure in new ones.Read moreCompass went on hiring spree as BHS, Halstead made cutsThe big brokerage squeezeSelling the city: TRD’s 2019 brokerage rankings The Corcoran Group launched a new customer relationship management system in lockdown and an entirely virtual training center for agents in March. As of early December, the firm had run more than 900 classes on business development, digital marketing and wellness, among others. It is also working on getting a program ready to pay agents their commissions as soon as deals close. Brown Harris Stevens began rolling out two lending products in December that will front staging costs for sellers and offer bridge loans up to $25 million to buyers at the behest of agents. “We’re doing it solely because agents have said it’s important,” said Matt Leone, BHS’ head of business development. “I think everything we do is a recruiting and retention tool. … I call it doing your job.”Meanwhile, Compass is gearing up for its initial public offering, which could mean windfall for the agents who took advantage of its stock options. Earlier this month, Robert Reffkin, the firm’s founder and CEO, encouraged that line of thinking in a recent internal memo to agents. “We will be able to invest more in building towards the Compass Northstar: Anything an agent needs, Compass provides,” Reffkin wrote.Coming and goingEven at the best of times, many brokerages view recruiting as a numbers game, where the highest agent headcount reaps the largest gross revenues for the company. But when business is bad, the need for more agents is even more acute.“The industry knows that, really, one out of 10 agents is going to make it and really be profitable for the company,” Corofy’s Boccara said. The game is harder now than ever before: There are fewer agents across the board, and those left know they’re in demand. “The agents themselves are starting to realize that they’re a commodity in hot demand,” Boccara said. “Everybody wants to talk to them.” Compass is the recruiting game’s biggest player. The brokerage hired 249 agents away from its rivals between May and November — more than any of its competitors, according to an analysis by Corofy. “Compass really owns a really, really important market share of hiring,” said Boccara, referring to the strategy of recruiting agents to gain market share. Rory Golod, Tri-State president of Compass, pushed back, however, saying that firms allowing growth to be driven by headcount was leading the industry “astray.” “Great organizations are built by being thoughtful and selective,” he said. “We have never thought about our company in terms of the number of agents. … We don’t set targets based on the number of agents.”The firm was far from alone when it came to bringing on new talent from competitors. Corcoran made 120 new hires, followed by eXp, which drew 92 agents. Douglas Elliman snapped up 58 agents from its rivals, while Oxford Property Group picked up 53.“We are very aggressive,” said Pam Liebman, CEO and president of Corcoran. “We did not stop.” She did note, however, that the firm had limited recruitment to agents who’d been in touch with the firm before and previously expressed interest out of a desire to be “sensitive” during the pandemic. Overall, Compass netted 97 agents between May and November — meaning that the firm gained more agents than it lost. eXp Realty, RE/MAX Edge, Nest Seekers International and Triplemint reported similar gains. Still, Compass churned, or lost, an average of 39 agents per month. Among the city’s other biggest brokerages, Elliman and Corcoran saw an average monthly churn of 54 and 53 agents between May and November, while BHS churn was 9.5.(Compass disputed Corofy’s results, stating that its churn was just under 2.5 agents per month because the firm only counts “principal agents” not their team members internally.) At BHS, the firm has upped its marketing budgets and is pouring resources into a new CRM system that recently launched, according to CEO Bess Freedman.“We’re just going to be a little bit more flexible than usual taking into account the pandemic,” she said referring to costs agents incur.  “We’re sensitive to the agents that have had a really tough time this year.” Merger maniaFor the last few years, consolidation has swept the brokerage industry, and the recent volatility hasn’t changed that pattern. Last year, Compass acquired Stribling & Associates, and in January of this year Bond New York snapped up rental brokerage Caliber Associates, while Citi Habitats merged into Corcoran. BHS and Halstead’s merger in June was the largest of 2020. The two firms, sister companies under Terra Holdings, now have a combined roughly 2,500 agents. However, the process did result in the departure of 38 “underperforming agents,” according to Freedman and Richard Grossman, president of Halstead.Freedman said the pandemic was the “catalyst” for the deal. She said Terra had discussed merging the firms for years, but the idea became an “ideal” option as the city locked down last spring. “If we didn’t have the pandemic, I don’t know that we would have done it at such a quick speed,” she said. “Maybe we would have at some point.”Oxford Property Group absorbed Kian Realty and Spire Group, which meant adding about 280 agents to the firm over the course of the year. The firm’s founder and CEO Adam Mahfouda said that Oxford’s growth insulated the firm from the pain of a market where transaction volume has sunk. “As a company we’re not feeling the toll,” he said. “But a lot of our agents are feeling that.”   In a similar vein, Elegran acquired Anchor Associates earlier this fall, bringing on 20 new people. Celebrity broker Ryan Serhant took an even more extreme approach, launching a new firm altogether in September. He began hiring immediately, despite the fact that a lot of his existing business will continue to be handled by his team at Nest Seekers. “I’m not building this for today. I’m building this for 2030, and 2040, and beyond,” Serhant said in an October interview. “The age old way of getting a desk and you have to drive all your own business and it’s the brokerage’s brand first and your brand second … it will not last, it cannot last.”Serhant’s firm and Triplemint both scooped up agents and staff who had been let go when many firms were forced to make deep cuts earlier in the year. Triplemint CEO David Walker called cutting support staff and agent services “the wrong strategy” back in June, just as agents were allowed to show homes for the first time in three months. “This is the time to invest in your agents because the market is going to rebound,” he said at the time. Fast-forward six months, Triplemint said its headcount has increased by about 20 percent since last December. Walker said he stands by the firm’s “targeted and specific” strategy.“Value to buyers and sellers stands out even more in a challenging market,” he said in December. “It’s the extreme opposite of when the market is roaring, and you can hire your friend who’s done two deals and has their license on the side.”Breaking outFor agents themselves, a different calculus comes into play when deciding whether to stay or go.The pandemic has led some agents, concerned about health and safety, to retire, according to Barbara Fox at Fox Residential. “I think a few of them just don’t want to deal with everything,” she said, noting that there is a real fear among agents showing homes and meeting with clients despite there being no vaccine. “I don’t know anyone who isn’t afraid,” Fox said. “I’ve never been so looking forward to getting a shot.” Meanwhile, others decided this was the time to leave the sheltered wing of major teams. Two agents who had been on the Serhant Team for seven years, Ivy Kramp and Jenna Amicucci-DeChristopher, decided to move to Compass in late June where they founded a four-person team, which includes another Serhant Team alum Vanessa Beretta. The brokers, who say they closed $222 million in total sales between 2018 and 2019, said they parted with Serhant on good terms and the decision didn’t have anything to do with his new firm. “We wish him the best of luck,” said Amicucci-DeChristopher. “Just for us we wanted to go in a little bit of a different direction.” Kramp said the in-house resources at Compass for new development was a big factor in their move.On the other end of the spectrum, Kayla Lee, who handled sales at new development buildings for Modern Spaces for the past five years before jumping to Serhant’s new firm, said the decision was born out of a lull between projects and wanting a new challenge. “I thought this would take me to a new level,” she said.The Peters Breese team at Elliman splintered off from the Eklund-Gomes Team in May, noting that making a move as the market was frozen afforded them additional time to reorganize and communicate with clients. “We have the time to do it now,” as Breese put it. Aaron Seawood, a Brooklyn-based broker and a founding member of Compass’ sports and entertainment division, agreed. He moved to Triplemint in June for the opportunity to “have a seat at the table” as the firm expanded into Brooklyn.“When you’re able to be still, you’re really able to be self aware,” Seawood said in June about deciding to make the jump amid so much volatility. “You have a little more time to think about what’s important to you.Contact Erin Hudson Share via Shortlink Email Address* TagsBrown Harris StevenscompassCorcoran GroupDouglas EllimanNest Seekers InternationalOxford Property GroupResidential BrokerageResidential Real Estatecenter_img Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name* Message*last_img read more


Ken Garff Family Contributes Generous Donation To Rice-Eccles Stadium Expansion

Posted On May 8 2021 by

first_img Written by FacebookTwitterLinkedInEmailSALT LAKE CITY-As confirmed in a report by KUTV 2 News of Salt Lake City, the University of Utah announced the Ken Garff family has given the university the largest donation it has received in the history of its athletic department. The university also confirmed over 5,000 seats will be added to the stadium, boosting Rice-Eccles Stadium’s capacity from 45,087 to 51,444. A news release Saturday revealed the Garffs’ donation will assist in funding constrcution for the Ken Garff Performance Zone in the south end zone. The remaining $45 million is to be generated through new revenue sources associated with the project, per the news release. Brad James The Salt Lake City-based Ken Garff Family of car dealerships has donated $17.5 million for the renovation and expansion of Rice-Eccles Stadium as confirmed during a press conference prior to the annual Red-White football game, which was won by the Red team 21-14.center_img This is the most prominent gift in the midst of an $80 million project for the stadium. University president Ruth V. Watkins and director of athletics Mark Harlan each spoke glowingly of the Garff Family’s generous contribution, as did head football coach Kyle Whittingham. Tags: Ken Garff/Ken Garff Performance Zone/KUTV 2 News/Kyle Whittingham/Mark Harlan/Red-White Football game/Rice-Eccles Stadium/Ruth V. Watkins/Salt Lake City Presently, donors to the university have pledged $32 million of the $35 million sought in philanthropic gifts. April 13, 2019 /Sports News – Local Ken Garff Family Contributes Generous Donation To Rice-Eccles Stadium Expansionlast_img read more