George Soros Sees Another 2008 in China

George Soros, who has a net worth of about $27.3 billion, gained notoriety in 1992 when he correctly predicted that the United Kingdom would be forced to devalue the pound. It wasn’t just the prediction that made him famous, but the $1 billion he netted from acting on that prediction that caught the world’s attention. So, when George Soros makes a financial prediction or sees a global market pattern on, suffice it to say, the world pays heed. That being said, Soros has made some pretty alarming predictions about what he has noticed as China switches its economy base from a manufacturing and investment structure to a consumption and services-based one.

“China is struggling to find a new growth model and its currency devaluation is transferring problems to the rest of the world, Soros said in Colombo.” What problems are those? By the first week in January of the current year, China’s equity losses had shut down its stock market for an entire day and the value of equities in the rest of the world had already dropped by $2.5 trillion. Soros says that these patterns are reminiscent of 2008 where the world saw a crippling recession that brought almost every economy to its knees in one way or another. Soros says that China’s adjustment problems amount to a crisis, it, of course, being the second largest economy in the world.

All the volatility radars are up as well, adding weight to the George Soros predictions. The VIX, The Chicago Board Options Exchange Volatility Index, also know as the ‘fear gauge’ is up by 13 percent over last year and its Japanese counterpart, the Nikkei Stock Average Volatility Index had jumped 43 percent by the end of January. Even a Merrill Lynch index of Treasury bonds price predictions rose by 5.3 percent.

In a reach for stability on, the People’s Bank of China has brought interest rates down to record lows, authorities pump hundreds of billions of dollars into the market, and the Communist Party vows to get the yuan’s convertibility up by 2020. What should investors be doing in the ensuing four years between now and then? According to Soros, returning to worthy interest rates will be a challenge for China and he suggests extreme caution in global investments.

Big Three Automakers Do Not Support Obama’s TPP Trade Treaty

President Obama recently said that opponents of the Trans Pacific Partnership (TPP) trade treaty do not understand it will benefit US automakers. The president cited as anecdotal evidence the fact that anyone inside the Washington Beltway can attest that Japanese cars are ubiquitous. By contrast, the president pointed out that in Tokyo, very few American cars will be seen. As people at Boraie Development understand it, by adopting the TPP trade deal, Japanese markets will open up to US automakers and translate into a boom in new sales. Given this fact, it would appear as a given that the big three automakers, Ford, Chrysler, and GM, would be vigorously behind the TPP agreement and by extension the United Auto Workers (UAW) union.

It isn’t true. This is because Japan does not impose any tariffs on American made cars. By contrast, the United States has tariffs on Japanese cars to limit their sales. The TPP agreement will force the United States to drop those tariffs and further hasten Japanese auto sales in the United States at the expense of domestic cars. In addition, the big three do not support TPP because it fails to address the main reason why American cars do not sell briskly in Japan: currency manipulation. This allows Japan to make their cars cheaper to Americans while making the US cars more expensive to Japanese consumers. In fact, this is the very reason why real estate mogul Donald Trump is against TPP.

Bruce Levenson: Philanthropist, Businessman, Journalist, Patriot

Bruce Levenson is an American businessman, philanthropist, journalist, and patriot. Mr. Levenson is best known as a co-owner of the Atlanta Hawks LLC, the company that owns and operates the Atlanta Hawks basketball team, as well as Philips Arena, where they play. He is equally well known for being the co-founder of United Communications Group. He is also on the board of directors of TechTarget, an IT industry media company.

Mr. Levenson was born in Washington, D. C. He graduated from Washington University in St. Louis, Missouri, with a BA in political science. He began his journalism career at the Washington Star, whilst studying law at American University in Washington, D. C. He and his wife Karen Levenson have been married over thirty years, and have three sons.

Mr. Levenson and his partner Ed Peskowitz founded United Communications Group (UCG) in 1977. UCG originally published a newsletter on developments in the oil industry. Now UCG provides data, analysis, and guidance to customers in a variety of industries world-wide, including but not limited to energy, healthcare, banking, government contractors, software, telecommunications, and technology. The UCG has won over 125 journalism awards since 1978.

Mr. Levenson is a founding board member of TechTarget, and currently serves on its board of directors. TechTarget is an information technology industry media company, which unites technology providers with technology buyers. He has served on the board of directors of the Newsletter and Electronic Publishers Association. In 1997 he was inducted into the Software and Information Industry Association’s Hall of Fame.

In 2004 Mr. Levenson became an owner of two professional sports franchises, the Atlanta Thrashers (hockey) and the Atlanta Hawks (basketball). Mr. Levenson and his partners sold the Atlanta Thrashers in 2010; the team relocated to Winnipeg, Manitoba. He is currently a member of the National Basketball Association (NBA) board of governors, as mentioned on his Wikipedia page.

Although he is justly proud of the Hawks’ success, he considers his greatest success as a philanthropist. He has donated his time and energy, not just his money, to the Community Foundation of Washington, D.C., the Hoop Dreams Foundation, and the U. S. Holocaust Museum. He has given special attention to programs designed to help underprivileged children, further education, and preserve Jewish heritage. Bruce and Karen Levenson created and funded the Center for Philanthropy and Nonprofit Leadership at the University of Maryland. His investments in America’s future through his philanthropy are applied patriotism.

Christopher Cowdray, He Made Luxury His Job.

Christopher Cowdray was born in Zambia and attending school there for a most of his early education. As a young man, he did leave Zambia and settled down in New York to continue his upper education at Columbia University in New York. Mr. Cowdray’s degree was earned through the Columbia Business School’s Executive Program. Soon he was managing hotels not just in Africa but also Asia, Australia, the Middle East and the UK.
Mr. Cowdray has over thirty years of hotel experience, holding managerial positions all over the world. In the UK, Mr. Cowdray was a previous managing director at London’s Claridge.  In three years, he became the chief executive officer of the Dorchester Collection, which is owned by the Dorchester Group Ltd.
In 2008, his first year as CEO Mr. Cowdray had added the Hotel Bel-Air and the New York Palace Hotel. The New York Hotel was later sold, but new ones keep joining the group of luxury rooms and fine dining. In 2013, Mr. Cowdray was awarded a Lifetime Achievement Award at the European Hospitality Awards.
Mr. Cowdray today feels that every member of the hotel’s team must work together to allow clients to feel that pure sense of luxury. He finds that no one worker has a lesser job than those of others; rather all are critical in delivering exceptional service.
In an interview with Leaders Online in 2013, Mr. Cowdray spoke about his clients and some of the groups hopes for the future.
He doesn’t feel that luxury is the same today as it once was. The times have changed and so have our expectations. Today people tend to want friendly, happy people to interact with them. They don’t want a strict, straight and formal manner anymore. Flexibility is important in today’s definition of luxury hotels. Mr. Cowdray admits that he is picky about his choice of hotels for the group, but he states that there will be more added to the Collection. He hopes to grow into some of the markets where he already has a presence.

Michele Ferrero, Owner of the Ferrero Group, Passes Away at Age 89

Michele Ferrero, Italy’s richest man, has passed away at the age of 89, according to reports. Ferroro, owner of the Ferrero Group, had a net worth of $23.5 billion, and had been dubbed the “richest candy man on the planet” by Forbes Magazine. He was the 30th wealthiest man on the planet.

Michele Ferrero has been credited with taking a small chocolate business and turning it into a household name. The company is responsible for the Ferrero Rocher pralines that are popular the world over, or at least Globo reports that. Ricardo Tosto says the company is also responsible for Raffaello, Mon Cheri, and Kinder brand chocolates. The company is also the owner of Nutella, the world’s most popular chocolate hazelnut spread.

According to reports, Michele Ferrero had been suffering from a longterm illness prior to his passing. The company, which is family owned, was once rumored to be in talks with Nestle. According to sources, Michele would have never let that happen to the company he built from the ground up. His passing, however, has sparked further rumors about the fate of the family-owned business.