Category: Finance News

Bruce Levenson Sues AIG Insurance Over Lack of Settlement.

Bruce Levenson, through AHBE, the former Atlanta Hawks ownership group, has sued AIG insurance company over lack of settlement. In the lawsuit, Bruce stated that their insurance policy covered any losses that would have been incurred in the process of their settlement with the current Hawks ownership group. The lawsuit shows that ABHE had informed the AIG insurance company of the losses they had incurred during the process with the aim of getting compensated. However, the insurance company did not even respond to the settlement claim.

Bruce, through his lawyers wants the court to compel the insurance company to either accept or reject the settlement claim to pave way for the next course of action. According to Time Magazine, the current Hawks ownership group has vowed to keep away from the matter in court as the case is not between the NBA team and the insurance company but between the insurance company and the former Hawks ownership group.

In the lawsuit, AHBE is seeking to be compensated for not only the settlement but also for AIG’s breach of contract. Before the court, Bruce’s lawyers claimed that the time within which the settlement claim should have been settled has expired and therefore their client should be compensated for the time that has passed since.

Bruce Levenson is a businessman and a philanthropist. He was the owner of AHBE which was the Hawks ownership group until the transfer of ownership in 2012. In 1977, Levenson formed a partnership with Ed Peskowitz to start United Communications Group. Bruce was also involved in starting TechTarget and serves in the board of directors of the media company.

As a philanthropist, Levenson has been involved in many charity organizations. One such organization is I Have a Dream Foundation which provides scholarships to children from low income families around the United States.


George Soros Says a Strong Ukraine Means a Stronger Europe

George Soros is almost as well known for his insightful political and economic commentary as he is for his incredibly successful career as an investor. In addition to serving as the Chairman of Soros Fund Management, he is also the founder and current Chairman of the Open Society Foundations. In an article for Project Syndicate, Soros goes to great lengths to explain how the EU could be a strong force in fighting for the continued independence and democratic reform of Ukraine. Essentially, Soros proclaims that by helping Ukraine through this difficult time of political and economic transition, Europe would gain many benefits for itself.

Promising Elections in Ukraine

Soros notes that the 2014 elections in Ukraine are cause for celebration of democratic reforms and a strong commitment to saving the country from Russian aggression. Soros’ take on the elections in Ukraine is one of optimism and opportunity. There seems to be a dedication to maintaining and spreading the democratic reforms in Ukraine that have already been underway. At the same time, George Soros comments that the elections in Europe are showing far less support among the general public for the continued existence of the EU. There seems to be a much more nationalistic sentiment growing that threatens to unwind the momentum that the EU has been able to build over the years. He finds hope in that Ukraine could be a source of unification for EU member countries that would stand together in preventing the further spread of Russian aggression.

Read more:
George Soros – Project Syndicate

George Soros – Business Leader, Philanthropist

The Danger of Russia as a Continued Rival of the EU

Soros thinks that Russia needs to be viewed as still a threat to the existence of the EU and the sovereignty of European countries in general. No matter what the international opinion is of Putin, he remains very popular among many of his own citizens, especially in light of the recent annexation of Crimea. Even though Putin would like to continue aggressive policies for Ukraine, Soros points out that a stable Ukraine would actually be in the best interest of Russia without Putin. If Ukraine could raise its status as a prosperous nation, it could help as a trading partner with Russia and EU member states. Thus, aiding in the protection of Ukraine right now could pay off dividends for Europe in the future. It could also help to cement a mutually beneficial relationship with Russia at the end of Putin’s rule.

Europe Should Consider Political Risk Insurance in Ukraine

Even though Europe has many internal problems to deal with at the moment, Soros pushes for political risk insurance to encourage business and investment in Ukraine. He argues that this proposition is not too costly because many international financial institutions already maintain this same program in other parts of the world.

Soros gives a very convincing argument for why a stronger Ukraine means a better Europe. His arguments are directed at leaders of the EU with the means to make a real difference.

Learn more George Soros:

The Visionary Brain of George Soros

George Soros is a well-known personality throughout the world. He ranks among the wealthiest people alive according to Forbes. The magazine puts Soros at #23 in the world with a net worth of $24.9 Billion. George attributes his wealth to hedge funds and self-made property. He is currently 85 years old, and a father of five.

George recently revealed his opinion on the paramount matter facing the United Kingdom. Britain is now involved in a poll to decide if they should quit the European Union. George Soros is the idea that Britain should remain in the EU. He has apparently given his views on the matter, to try convincing the people.

In 1992, George Soros made enormous profits by predicting a similar situation. He received more than $1.5 million from the Bank of England. Soros was a wealthy man already at the time. His vision, however, proved to be an added advantage to himself. He made the best of an otherwise sad situation.

Soros holds a Bachelor of Arts/ Science from the London School of Economics. He also carries vast experience in the hedge fund industry, one of his fields of operations. During his address about staying in the EU, George Soros stated situations that may arise from such an action. Referring to 1992, Soros told Brits to prepare themselves for a ‘Black Friday.’ This term comes from ‘Black Wednesday’ which was as a result of the withdrawal of the sterling pound from the European Rate Mechanism. This action led to the collapse of many financial markets in the world and brought problems for the ordinary citizen in Britain.

Read more:
Brexit and the Future of Europe

George Soros – Business Leader, Philanthropist

George Soros has several public figures from Britain supporting his stand. David Beckham, a former professional soccer player, and his wife Victoria are for #remain. Britain’s Prime Minister David Cameron also issued an address at No. 10 Downing Street supporting the anti-Brexit team. ‘Brexit’ is a term coined by joining British and Exit. During his briefing, Cameron said that Britain was not a nation of quitters. He encouraged the voters to vote with great caution.

George gave his reasons for telling Brits to vote for staying in the EU. He claimed that if the sterling pound was to exit the market, people in Britain would experience an increase in prices of ordinary households almost immediately. Availability of jobs, investment, and the financial market would also feel the impact.

George is a man of many qualities. Financial expertise aside, Soros is an excellent author. He has won awards in his writing career and was once a best seller. He is also a generous man who gives back to society always. George has set up a foundation to assist less privileged in society to acquire education among other essential needs.

Learn more about George Soros:

Phillip Diehl on the Demise of the Penny in the US Money Reserve

In the United States today there are many things that are open to debate. There are many ideas that officials have in order to improve this country, and some of these ideas are downright controversial. One idea which has been open to increasing debate in the present time would be the abolition of the penny.

A recent interview on CNBC Sqwauk Box (Embed Code: ) actually discussed this very issue. Philip Diehl, who is a former U.S. Mint Director and now the President of the U.S. Money Reserve was recently on the Sqawk Box news show and espoused a number of arguments for the abolishment of the penny.

To begin with, Mr. Diehl felt that the penny had outlived its usefulness and that it is “not needed anymore.” One of the main points that Diehl made about the US Reserve was that if an individual bends over and picks up a penny they are actually making less money per hour than minimum wage.

If you apply analysis to this statement, you would definitely find out that it is true. If an ordinary individual were to pick up a penny, they would probably need about ten seconds to do it. There are about 3600 seconds in an hour and dividing it by ten would leave you with 360. Thus, stopping to pick up a penny will only merit you about $3.60 an hour give or take.

The commentator questioned Diehl, saying that some feel taking the penny out of circulation would lead to inflation because some retailers would naturally raise their prices to the next cent over.

However, Diehl felt that it wouldn’t make good business sense for an establishment such as McDonald’s to upset customers by raising their prices to the next penny.

Finally, the argument was raised that the nickel is also an example is coinage that costs more to make than what it is worth acording to his Facebook page. However, Diehl’s counterargument was that the penny is “beyond hope” and that there are methods that can be taken in order to make the nickel more profitable to produce.

Overall, an interesting and educational debate that will probably continue for a number of years into the future.