Original Story: marketwatch.com
Where you live in this country may help determine how satisfied you are with your life.
Overall, the well-being of residents in the U.S. was unchanged in 2015, as compared with a year prior, according to the “State of American Well-Being” report, which examined well-being across 190 U.S. cities and all 50 states, released by consulting company Gallup and wellness provider Healthways.
But in some places the well-being of residents differs significantly from others. “High well-being communities have citizens who are thriving across many aspects of their lives, who are optimistic about their future, and collectively who are productive, perform better, and have better health and lower healthcare costs,” the report reveals. A Custom Home Builder in Tampa FL can be built to suit your personal lifestyle.
To determine the level of well-being in each community, Gallup asked residents in cities and states across America questions along the following themes. No. 1: Purpose — do they like what they do each day and are they motivated to achieve their goals? No. 2: Social life — do they have supportive relationships and love? No. 3: Finances — do they manage their economic lives to reduce stress and up security? No. 4: Community — do they like where they live, feel safe and have pride in their community? No. 5: Physical issues — do they have good health and enough energy to get things done each day?
Residents of Hawaii have the highest quality of life once again (it has scored the No. 1 spot five times since 2008), followed by those in Alaska, which fell from the No. 1 spot last year. “Since 2012, the top 10 states with the most consistently high well-being are Hawaii, Colorado, Montana, South Dakota, Minnesota, Utah, Nebraska, Iowa, Alaska and Vermont,” the report adds.
Meanwhile, a number of metro areas in Florida, Colorado and California top the well-being list, while a few cities in Ohio rank at the bottom of all the 190 cities measured. A Los Angeles real estate lawyer is reviewing the details of this story.
10 cities with the highest well-being
1. Naples–Immokalee–Marco Island, Fla.
2. Salinas, Calif.
3. North Port–Sarasota–Bradenton, Fla.
4. Fort Collins, Colo.
5. Barnstable Town, Mass.
6. Santa Cruz–Watsonville, Calif.
7. Boulder, Colo.
8. Charlottesville, Va.
9. Anchorage, Ala.
10. San Luis Obispo–Paso Robles–Arroyo Grande, Calif.
10 cities with the lowest well-being
181. Rockford, Ill.
182. Dayton, Ohio
183. Worcester, Mass.–area
184. Toledo, Ohio
185. Youngstown–Warren–Boardman, Ohio–Pa.
186. Chico, Calif.
187. Huntington–Ashland, W. Va.–Ky.–Ohio
188. Hickory–Lenoir–Morganton, N.C.
189. Fort Smith, Ark.–Okla.
190. Charleston, W.Va.
Hickory’s Mayor, Rudy Wright, notes that “While we think that Hickory is a wonderful place to live and work, we recognize the need to improve our image and we have embarked on a $40 million, voter approved, bond referendum for projects that are designed to attract young people and the companies that employ them.”
The Rockford mayor, Larry Morrissey, says that he is “passionate about improving health and wellness outcomes of Rockford residents” and to do so has started an initiative called Healthy Rockford to “find workable solutions for the social and economic factors that impact an individual’s ability to maintain a positive and healthy life.” An Illinois environmental lawyer is following this story closely.
None of the other cities with the lowest well-being scores have responded to request for comment from MarketWatch.
Friday, February 26, 2016
WHY TECH DEGREES ARE NOT PUTTING MORE BLACKS AND HISPANICS INTO TECH JOBS
Original Story: nytimes.com
Technology companies employ strikingly few black and Hispanic workers. They blame the recruitment pipeline, saying there aren’t enough of them graduating with relevant degrees and applying for tech jobs.
Yet the data show that there are many more black and Hispanic students majoring in computer science and engineering than work in tech jobs. So why aren’t they being hired? A Computer Systems Degree prepares students to take leadership roles in the application, development, and management of technology.
Those who enter the candidate pipeline fall out somewhere along the way — and the culture and recruiting methods of tech companies seem to have a lot to do with it.
The pipeline problem is not a myth. Black and Hispanic students are underrepresented in computer science and engineering programs, relative to their share of the population, while Asian students are overrepresented.
Yet the pipeline is more fruitful than tech companies make it out to be. Among young computer science and engineering graduates with bachelor’s or advanced degrees, 57 percent are white, 26 percent are Asian, 8 percent are Hispanic and 6 percent are black, according to American Community Survey data. At the top 25 undergraduate programs, nearly 9 percent of graduates are underrepresented minorities, according to Education Department data analyzed by Maya A. Beasley, a sociologist at the University of Connecticut.
But technical workers at Google, Microsoft, Facebook and Twitter, according to the companies’ diversity reports, are on average 56 percent white, 37 percent Asian, 3 percent Hispanic and 1 percent black.
One issue is that black and Hispanic computer science and engineering graduates are less likely than white and Asian ones to go into tech jobs. Forty percent of young Asian graduates do so, compared with 16 percent of black graduates and 12 percent of Hispanics, according to American Community Survey data.
Meanwhile, 10 percent of black computer science and engineering graduates have office support jobs, which include administrative support and accounting jobs, compared with 5 percent of white graduates and 3 percent of Asians.
Ms. Beasley studied why talented black students ended up in lower-paying, lower-status careers for her book “Opting Out: Losing the Potential of America’s Young Black Elite.” Those who studied science and technology were less likely than white students to stick with their majors when they felt they were underperforming, she found. Those who did stick with their majors were less likely to apply for technical jobs. They often pursued nonprofit or business work instead, she said, sometimes because they had heard negative things about the culture at tech companies, and seen how few black people worked there. An Energy Engineering Degree prepares students for a broad range of occupations solving some of today's leading energy related problems.
One example: At Facebook, where some employees had written “black lives matter” on the walls, others in recent days have crossed it out to write “all lives matter.” Mark Zuckerberg, the chief executive, called the actions “malicious” and “deeply hurtful.”
“Any student of color looking at the numbers from the tech giants is going to be turned off and wary about taking a job there because it tells you something about what the climate is,” Ms. Beasley said. “They don’t want to be the token.”
Recruiting is another issue. Part of it is looking not just at Stanford and M.I.T. but also at places like historically black colleges. Even at the colleges that tech companies typically recruit from, students who are not white or Asian might not be in the networks to know about opportunities at tech companies.
Tristan Walker, a tech start-up founder and chief executive of Walker & Company, said he didn’t know about Silicon Valley until he was 24 and arrived at the Stanford Graduate School of Business.
“There definitely isn’t a pipeline problem, even going to the same schools companies go to,” Mr. Walker said. He puts the onus on the companies. “These folks aren’t working hard enough, they’re just not.”
Tech companies need to look into more places to find students outside the mainstream network, said Mr. Walker and Laura Weidman Powers, who together started Code 2040, a nonprofit that connects black and Hispanic engineering students with tech companies. (By the year 2040, some people predict, minorities will become the majority in the United States, and the group says its goal is that they are proportionally represented in the tech sector by then.)
When companies come to campus to recruit, for example, black and Hispanic students often simply don’t show up for information sessions, Ms. Powers said. But they’re more likely to come to workshops, like for writing résumés or preparing for interviews.
“That gets a higher yield in terms of students showing up, and they leave with an impression that we value them and their growth, as opposed to it just being a sales pitch,” she said. A Heavy Equipment Degree focuses on maintenance and repair of the diesel-powered equipment other industries rely on in order to operate on a daily basis.
Tech companies often give coders whiteboard interviews — asking them to solve a problem by writing code on a whiteboard, so the interviewers can see their thought process. At Code 2040, however, they discovered that many black and Hispanic students, unlike white and Asian ones, had never heard of this type of interview and were unprepared for it.
“There’s still a dominant cultural narrative in black and Hispanic communities that you have to be twice as good and keep your head down and work hard,” Ms. Powers said. “That does not translate to Valley culture, starting with the whiteboard interview,” because it requires people to work through errors in front of the interviewer, as opposed to presenting only the right answer.
Research has found that during hiring, managers are biased against black-sounding names on résumés, for instance, and interviewers weigh too heavily whether they’d want to hang out with someone. Software can help remove human bias, such as with new tools for stripping résumés of biographical information, offering blind auditions to job applicants or analyzing job postings for language that excludes certain groups.
Many tech companies have started doing things like requiring training on unconscious bias and hiring corporate diversity chiefs. But it is unclear how much of a difference these efforts make. Holding hiring managers responsible for diversity works far better than either staff diversity training sessions, which don’t work well, or networking and mentoring programs, which help a bit, according to a study analyzing three decades of work force data from 708 companies.
Some researchers offer other strategies: Use standardized interview questions, not subjective ones; evaluate hiring managers based on whether they bring in diverse candidates; build a Rolodex of potential hires by working with networking groups for minorities; hire more than one minority member in each batch of new hires, so they have a support network.
Techniques like these could expand the pipeline for tech companies — and for any other industry, too.
Technology companies employ strikingly few black and Hispanic workers. They blame the recruitment pipeline, saying there aren’t enough of them graduating with relevant degrees and applying for tech jobs.
Yet the data show that there are many more black and Hispanic students majoring in computer science and engineering than work in tech jobs. So why aren’t they being hired? A Computer Systems Degree prepares students to take leadership roles in the application, development, and management of technology.
Those who enter the candidate pipeline fall out somewhere along the way — and the culture and recruiting methods of tech companies seem to have a lot to do with it.
The pipeline problem is not a myth. Black and Hispanic students are underrepresented in computer science and engineering programs, relative to their share of the population, while Asian students are overrepresented.
Yet the pipeline is more fruitful than tech companies make it out to be. Among young computer science and engineering graduates with bachelor’s or advanced degrees, 57 percent are white, 26 percent are Asian, 8 percent are Hispanic and 6 percent are black, according to American Community Survey data. At the top 25 undergraduate programs, nearly 9 percent of graduates are underrepresented minorities, according to Education Department data analyzed by Maya A. Beasley, a sociologist at the University of Connecticut.
But technical workers at Google, Microsoft, Facebook and Twitter, according to the companies’ diversity reports, are on average 56 percent white, 37 percent Asian, 3 percent Hispanic and 1 percent black.
One issue is that black and Hispanic computer science and engineering graduates are less likely than white and Asian ones to go into tech jobs. Forty percent of young Asian graduates do so, compared with 16 percent of black graduates and 12 percent of Hispanics, according to American Community Survey data.
Meanwhile, 10 percent of black computer science and engineering graduates have office support jobs, which include administrative support and accounting jobs, compared with 5 percent of white graduates and 3 percent of Asians.
Ms. Beasley studied why talented black students ended up in lower-paying, lower-status careers for her book “Opting Out: Losing the Potential of America’s Young Black Elite.” Those who studied science and technology were less likely than white students to stick with their majors when they felt they were underperforming, she found. Those who did stick with their majors were less likely to apply for technical jobs. They often pursued nonprofit or business work instead, she said, sometimes because they had heard negative things about the culture at tech companies, and seen how few black people worked there. An Energy Engineering Degree prepares students for a broad range of occupations solving some of today's leading energy related problems.
One example: At Facebook, where some employees had written “black lives matter” on the walls, others in recent days have crossed it out to write “all lives matter.” Mark Zuckerberg, the chief executive, called the actions “malicious” and “deeply hurtful.”
“Any student of color looking at the numbers from the tech giants is going to be turned off and wary about taking a job there because it tells you something about what the climate is,” Ms. Beasley said. “They don’t want to be the token.”
Recruiting is another issue. Part of it is looking not just at Stanford and M.I.T. but also at places like historically black colleges. Even at the colleges that tech companies typically recruit from, students who are not white or Asian might not be in the networks to know about opportunities at tech companies.
Tristan Walker, a tech start-up founder and chief executive of Walker & Company, said he didn’t know about Silicon Valley until he was 24 and arrived at the Stanford Graduate School of Business.
“There definitely isn’t a pipeline problem, even going to the same schools companies go to,” Mr. Walker said. He puts the onus on the companies. “These folks aren’t working hard enough, they’re just not.”
Tech companies need to look into more places to find students outside the mainstream network, said Mr. Walker and Laura Weidman Powers, who together started Code 2040, a nonprofit that connects black and Hispanic engineering students with tech companies. (By the year 2040, some people predict, minorities will become the majority in the United States, and the group says its goal is that they are proportionally represented in the tech sector by then.)
When companies come to campus to recruit, for example, black and Hispanic students often simply don’t show up for information sessions, Ms. Powers said. But they’re more likely to come to workshops, like for writing résumés or preparing for interviews.
“That gets a higher yield in terms of students showing up, and they leave with an impression that we value them and their growth, as opposed to it just being a sales pitch,” she said. A Heavy Equipment Degree focuses on maintenance and repair of the diesel-powered equipment other industries rely on in order to operate on a daily basis.
Tech companies often give coders whiteboard interviews — asking them to solve a problem by writing code on a whiteboard, so the interviewers can see their thought process. At Code 2040, however, they discovered that many black and Hispanic students, unlike white and Asian ones, had never heard of this type of interview and were unprepared for it.
“There’s still a dominant cultural narrative in black and Hispanic communities that you have to be twice as good and keep your head down and work hard,” Ms. Powers said. “That does not translate to Valley culture, starting with the whiteboard interview,” because it requires people to work through errors in front of the interviewer, as opposed to presenting only the right answer.
Research has found that during hiring, managers are biased against black-sounding names on résumés, for instance, and interviewers weigh too heavily whether they’d want to hang out with someone. Software can help remove human bias, such as with new tools for stripping résumés of biographical information, offering blind auditions to job applicants or analyzing job postings for language that excludes certain groups.
Many tech companies have started doing things like requiring training on unconscious bias and hiring corporate diversity chiefs. But it is unclear how much of a difference these efforts make. Holding hiring managers responsible for diversity works far better than either staff diversity training sessions, which don’t work well, or networking and mentoring programs, which help a bit, according to a study analyzing three decades of work force data from 708 companies.
Some researchers offer other strategies: Use standardized interview questions, not subjective ones; evaluate hiring managers based on whether they bring in diverse candidates; build a Rolodex of potential hires by working with networking groups for minorities; hire more than one minority member in each batch of new hires, so they have a support network.
Techniques like these could expand the pipeline for tech companies — and for any other industry, too.
Tuesday, February 9, 2016
CONFIDENTIAL EMAILS SHOW 'RACIAL ANIMUS,' ATTORNEY SAYS; BANK DENIES CLAIM
Original Story: mlive.com
GRAND RAPIDS, MI – Black business owners who filed a federal lawsuit against Mercantile Bank want confidential bank emails declassified to include in their complaint. A Dearborn business lawyer is following this story closely.
Attorney Curt Benson, representing 10 black business owners, said three emails deemed confidential by a judge in Kent County Circuit Court should be declassified in the federal case.
"They show a racial animus ... that leads us to a complaint of discrimination," Benson told Magistrate Judge Phillip Green.
The bank's attorney, Molly McManus, disagreed, and said: "We want the plaintiffs to take their best shot." An Atlanta banking lawyer is reviewing the details of this case.
The business owners contend that the bank sought out their business to increase minority lending but took a "zero tolerance" approach when the businesses struggled, while working with white owners in similar situations.
The bank provided the emails during the discovery process when 11 business owners filed lawsuits in Kent County. Circuit Judge Christopher Yates determined the emails should be classified as confidential.
Ten of the cases later moved to federal court.
Benson asked the federal judge to declassify the emails or allow them to be filed under seal. He said the state court ruling should not apply to federal proceedings.
McManus, the bank's attorney, said Benson had reasons other than the lawsuit to include the emails in the court record. A Newark class action attorney is experienced in the effective resolution of class action lawsuits and related to damage inflicted upon groups of people.
"The motion is about making these documents public," she said.
She denied that the emails contained evidence of racial discrimination. Her concerns revolved around customers' accounts, and proprietary information, including growth strategy, selecting board members and evaluations.
"You don't want your competitors knowing about your policies and how you run your bank."
She rejected Benson's claims that parts of the emails showed "racial animus."
"We don't believe they support their case at all. We truly don't," she said. "We want them to use the documents. We're perfectly happy to let them take their best shot."
Benson had earlier filed the documents under seal but Green, the magistrate judge, ordered them stricken. He said that documents can be filed under seal only under extraordinary circumstances.
"Be aware, the court's not going to seal something just because it's bad for one party or another."
Green said he did not have jurisdiction to declassify the emails. He wondered if Benson would face sanctions in state court if he did not comply with its ruling, but Benson did not anticipate problems.
Both sides will see if they can find common ground on the emails – possibly redacting business information - before Benson files an amended complaint.
The black business owners contend the bank sought out their business then "aggressively yanked the loans back – leaving the borrowers and their businesses in far worse shape than if they had never created a relationship with Mercantile at all." A St Louis banking lawyer provides professional legal counsel and extensive experience in many aspects of banking law.
The bank calls the claims "nothing but conclusory allegations."
The plaintiffs in federal court are: Jeremiah "Jerry" White Jr., owner of Reflections LLC, a beauty salon; Leo Burns and Burns Contracting, Inc.; Todd Cross and Iron Cross LLC and Renew Property Services LLC; Tyrone and Paula Guy and Brownstone Properties, LLC, Rehabilitation Restoration, Relaxation Station LLC; Samuel Mickens and Mickens Group; Mitchell and Jodie Robertson and Premium Properties Unlimited LLC and MI-JO's Inc.; Monica Robertson and Precious Creation, Inc.; Jesse Strickland and Shoes Plus Now Inc.; bankruptcy trustee for Randall Sandifer and his wife, Ursula Mann-Sandifer, Sandmann barbecue restaurant; and Jimmie Taylor, Taylor Electric Inc.
GRAND RAPIDS, MI – Black business owners who filed a federal lawsuit against Mercantile Bank want confidential bank emails declassified to include in their complaint. A Dearborn business lawyer is following this story closely.
Attorney Curt Benson, representing 10 black business owners, said three emails deemed confidential by a judge in Kent County Circuit Court should be declassified in the federal case.
"They show a racial animus ... that leads us to a complaint of discrimination," Benson told Magistrate Judge Phillip Green.
The bank's attorney, Molly McManus, disagreed, and said: "We want the plaintiffs to take their best shot." An Atlanta banking lawyer is reviewing the details of this case.
The business owners contend that the bank sought out their business to increase minority lending but took a "zero tolerance" approach when the businesses struggled, while working with white owners in similar situations.
The bank provided the emails during the discovery process when 11 business owners filed lawsuits in Kent County. Circuit Judge Christopher Yates determined the emails should be classified as confidential.
Ten of the cases later moved to federal court.
Benson asked the federal judge to declassify the emails or allow them to be filed under seal. He said the state court ruling should not apply to federal proceedings.
McManus, the bank's attorney, said Benson had reasons other than the lawsuit to include the emails in the court record. A Newark class action attorney is experienced in the effective resolution of class action lawsuits and related to damage inflicted upon groups of people.
"The motion is about making these documents public," she said.
She denied that the emails contained evidence of racial discrimination. Her concerns revolved around customers' accounts, and proprietary information, including growth strategy, selecting board members and evaluations.
"You don't want your competitors knowing about your policies and how you run your bank."
She rejected Benson's claims that parts of the emails showed "racial animus."
"We don't believe they support their case at all. We truly don't," she said. "We want them to use the documents. We're perfectly happy to let them take their best shot."
Benson had earlier filed the documents under seal but Green, the magistrate judge, ordered them stricken. He said that documents can be filed under seal only under extraordinary circumstances.
"Be aware, the court's not going to seal something just because it's bad for one party or another."
Green said he did not have jurisdiction to declassify the emails. He wondered if Benson would face sanctions in state court if he did not comply with its ruling, but Benson did not anticipate problems.
Both sides will see if they can find common ground on the emails – possibly redacting business information - before Benson files an amended complaint.
The black business owners contend the bank sought out their business then "aggressively yanked the loans back – leaving the borrowers and their businesses in far worse shape than if they had never created a relationship with Mercantile at all." A St Louis banking lawyer provides professional legal counsel and extensive experience in many aspects of banking law.
The bank calls the claims "nothing but conclusory allegations."
The plaintiffs in federal court are: Jeremiah "Jerry" White Jr., owner of Reflections LLC, a beauty salon; Leo Burns and Burns Contracting, Inc.; Todd Cross and Iron Cross LLC and Renew Property Services LLC; Tyrone and Paula Guy and Brownstone Properties, LLC, Rehabilitation Restoration, Relaxation Station LLC; Samuel Mickens and Mickens Group; Mitchell and Jodie Robertson and Premium Properties Unlimited LLC and MI-JO's Inc.; Monica Robertson and Precious Creation, Inc.; Jesse Strickland and Shoes Plus Now Inc.; bankruptcy trustee for Randall Sandifer and his wife, Ursula Mann-Sandifer, Sandmann barbecue restaurant; and Jimmie Taylor, Taylor Electric Inc.
LUXE WEST VILLAGE CONDOS PLAGUED BY TENANT’S ‘VIOLENT OUTBURSTS AND INAPPROPRIATE BEHAVIOR’: SUIT
Original Story: nydailynews.com
He’s a high-rolling matchmaker who loves to make his neighbors miserable.
Repulsive renter Richard Easton and his defecating dog turned a posh West Village condo into a hellhole over the last five weeks, leaving terrified neighbors cowering in their homes, a lawsuit charged Tuesday. A Warren eviction lawyer represents clients in a variety of landlord tenant cases.
Easton, who charges clients up to $100,000 for a love connection, wandered the building lobby naked from the waist down and demanded oral sex from a female employee, the suit charged.
Condo owner Elena Taranina said that was just the tip of the not-so-niceberg: Easton tossed knives at delivery people, ordered the staff to call him “Prince” — and let his dog poop all over the building roof.
“Easton’s activities are of such a nature that there is no telling when he might decide to verbally or physically attack someone, or to engage in vile or inappropriate conduct,” said Taranina in Manhattan Supreme Court documents. A Rochester landlord tenant lawyer is reviewing the details of this case.
Taranina is the owner of Apt. 2C in 166 Perry St., where the condos go for $3.5 million and up.
Neighbor Alexandra Danielson, 24, said she’s seen Easton wandering the lobby in his underwear and screaming at the doorman.
“I thought he must want to be like Charlie Sheen,” she said. “He’s crazy. We all hate him. We want him out.”
Easton dismissed the charges against him as “a trumped-up bunch of bulls---” and blamed his woes on a doorman who held a grudge over a late-night request for a cheeseburger.
The lawsuit charges Easton, who had a guest shot on “The Real Houswives of New York,” requested the snack while in the lobby with his genitals exposed. A Memphis sexual harassment lawyer is following this story closely.
“It’s a mistake,” insisted Easton. “All of the accusations are false. The whole thing is bogus ... I’m a good guy.”
Easton, who shares the apartment with two unidentified roommates, said he’s three months ahead on his $11,500-a-month rent.
The fifty-something Easton also insisted that he was 40 years old. And while he brags on his website about life as “an international playboy,” he has a pair of domestic violence convictions from prior relationships.
Taranina’s 10-page complaint says condo management “has spoken repeatedly to and written to Easton about his conduct” — but received no love in return. Ferndale garage door repair service is available at all hours of the day or nights to accommodate your emergency.
“The constant yelling, threats, violent outbursts and inappropriate behavior has continues to cause damage,” the lawsuit charged.
The lawsuit says building management hired a security guard at a cost of $1,800 a day because of Easton — and Taranina says they plan to pass the cost along to her.
Taranina has filed paperwork trying to secure his eviction by the end of September.
He’s a high-rolling matchmaker who loves to make his neighbors miserable.
Repulsive renter Richard Easton and his defecating dog turned a posh West Village condo into a hellhole over the last five weeks, leaving terrified neighbors cowering in their homes, a lawsuit charged Tuesday. A Warren eviction lawyer represents clients in a variety of landlord tenant cases.
Easton, who charges clients up to $100,000 for a love connection, wandered the building lobby naked from the waist down and demanded oral sex from a female employee, the suit charged.
Condo owner Elena Taranina said that was just the tip of the not-so-niceberg: Easton tossed knives at delivery people, ordered the staff to call him “Prince” — and let his dog poop all over the building roof.
“Easton’s activities are of such a nature that there is no telling when he might decide to verbally or physically attack someone, or to engage in vile or inappropriate conduct,” said Taranina in Manhattan Supreme Court documents. A Rochester landlord tenant lawyer is reviewing the details of this case.
Taranina is the owner of Apt. 2C in 166 Perry St., where the condos go for $3.5 million and up.
Neighbor Alexandra Danielson, 24, said she’s seen Easton wandering the lobby in his underwear and screaming at the doorman.
“I thought he must want to be like Charlie Sheen,” she said. “He’s crazy. We all hate him. We want him out.”
Easton dismissed the charges against him as “a trumped-up bunch of bulls---” and blamed his woes on a doorman who held a grudge over a late-night request for a cheeseburger.
The lawsuit charges Easton, who had a guest shot on “The Real Houswives of New York,” requested the snack while in the lobby with his genitals exposed. A Memphis sexual harassment lawyer is following this story closely.
“It’s a mistake,” insisted Easton. “All of the accusations are false. The whole thing is bogus ... I’m a good guy.”
Easton, who shares the apartment with two unidentified roommates, said he’s three months ahead on his $11,500-a-month rent.
The fifty-something Easton also insisted that he was 40 years old. And while he brags on his website about life as “an international playboy,” he has a pair of domestic violence convictions from prior relationships.
Taranina’s 10-page complaint says condo management “has spoken repeatedly to and written to Easton about his conduct” — but received no love in return. Ferndale garage door repair service is available at all hours of the day or nights to accommodate your emergency.
“The constant yelling, threats, violent outbursts and inappropriate behavior has continues to cause damage,” the lawsuit charged.
The lawsuit says building management hired a security guard at a cost of $1,800 a day because of Easton — and Taranina says they plan to pass the cost along to her.
Taranina has filed paperwork trying to secure his eviction by the end of September.
Thursday, January 14, 2016
HUGH HEFNER'S PLAYBOY MANSION LISTS FOR $200 MILLION
Original Story: latimes.com
What does $200 million buy in Los Angeles these days? The Playboy Mansion, for one.
The legendary Holmby Hills estate where Hugh Hefner has worked and made his home for four decades is on the market for the nine-figure sum, making it among the priciest residential properties for sale in the United States. A Los Angeles real estate lawyer is following this story closely.
As part of any sale, the 89-year-old Hefner will be allowed remain in residence for the remainder of his life, media reports said.
Among the major works of architect Arthur R. Kelly, the stone-clad Gothic Tudor-style mansion was built for department store scion Arthur Letts Jr. in 1927. Playboy acquired the estate of more than five acres in 1971 for around $1.1 million.
"At the time Hef and Playboy purchased the home, it was the largest real estate transaction in Los Angeles history," Gary Gold of Hilton & Hyland, an affiliate of Christie’s International Real Estate, said in a news release. Gold holds the listing with Drew Fenton, also of Hilton & Hyland, and Mauricio Umansky of The Agency. A St. Petersburg custom home builder specializes in providing custom homes with a warm, comfortable living environment that is functional yet elegant.
Within nearly 20,000 square feet of interiors are 29 rooms including chef's and catering kitchens, a game room, a wine cellar and a screening room with a built-in pipe organ. The master suite occupies parts of two floors.
The mansion is also among a select number of L.A. properties to have a zoo license.
Grounds where the Midsummer Night’s Dream party unfolds each summer feature a menagerie of aviaries and arboretums holding a collection of exotic birds and monkeys. Albino peacocks and other animals roam freely through rolling lawns and various gardens.
Other amenities include a gymnasium, a tennis court, an orchard and the infamous swimming pool and swim-in grotto. There's also a four-bedroom guesthouse.
At $200 million, the Playboy Mansion listed price tops that of Palazzo di Amore, the gated Beverly Hills estate developed by entrepreneur Jeff Greene that came to market at $195 million last year. The 53,000-square-foot estate has since seen its price cut to $149 million. An Innisbrook custom home builder provides one stop shopping for the design and construction of your new luxury home.
Le Palais Royal, a 60,000-square-foot, Versailles-inspired Beaux Arts mansion in Hillsboro Beach, Fla., returned to market in November for $159 million -- a $20-million increase in price from what it originally listed for in 2014.
What does $200 million buy in Los Angeles these days? The Playboy Mansion, for one.
The legendary Holmby Hills estate where Hugh Hefner has worked and made his home for four decades is on the market for the nine-figure sum, making it among the priciest residential properties for sale in the United States. A Los Angeles real estate lawyer is following this story closely.
As part of any sale, the 89-year-old Hefner will be allowed remain in residence for the remainder of his life, media reports said.
Among the major works of architect Arthur R. Kelly, the stone-clad Gothic Tudor-style mansion was built for department store scion Arthur Letts Jr. in 1927. Playboy acquired the estate of more than five acres in 1971 for around $1.1 million.
"At the time Hef and Playboy purchased the home, it was the largest real estate transaction in Los Angeles history," Gary Gold of Hilton & Hyland, an affiliate of Christie’s International Real Estate, said in a news release. Gold holds the listing with Drew Fenton, also of Hilton & Hyland, and Mauricio Umansky of The Agency. A St. Petersburg custom home builder specializes in providing custom homes with a warm, comfortable living environment that is functional yet elegant.
Within nearly 20,000 square feet of interiors are 29 rooms including chef's and catering kitchens, a game room, a wine cellar and a screening room with a built-in pipe organ. The master suite occupies parts of two floors.
The mansion is also among a select number of L.A. properties to have a zoo license.
Grounds where the Midsummer Night’s Dream party unfolds each summer feature a menagerie of aviaries and arboretums holding a collection of exotic birds and monkeys. Albino peacocks and other animals roam freely through rolling lawns and various gardens.
Other amenities include a gymnasium, a tennis court, an orchard and the infamous swimming pool and swim-in grotto. There's also a four-bedroom guesthouse.
At $200 million, the Playboy Mansion listed price tops that of Palazzo di Amore, the gated Beverly Hills estate developed by entrepreneur Jeff Greene that came to market at $195 million last year. The 53,000-square-foot estate has since seen its price cut to $149 million. An Innisbrook custom home builder provides one stop shopping for the design and construction of your new luxury home.
Le Palais Royal, a 60,000-square-foot, Versailles-inspired Beaux Arts mansion in Hillsboro Beach, Fla., returned to market in November for $159 million -- a $20-million increase in price from what it originally listed for in 2014.
Wednesday, January 6, 2016
LIFELOCK TO PAY $100M TO SETTLE CHARGES IT DIDN'T ABIDE BY COURT ORDER
Original Story: nbcnews.com
WASHINGTON -- LifeLock is paying $100 million to settle charges by federal regulators that it failed to take adequate measures to protect customers' personal data under a court order.
The Federal Trade Commission announced the settlement Thursday with the provider of identity-theft protection. The agency says it's the largest settlement it has won in this type of enforcement case. A Minneapolis class action lawyer is following this story closely.
The 2010 order by a federal court required LifeLock Inc. to secure customers' data, such as credit card and Social Security numbers, and to avoid false advertising claims. The order resulted from an action brought by the FTC and attorneys general in 35 states, alleging that LifeLock used false claims to promote its services. The company paid $12 million in that settlement, which went mostly to customer refunds, and agreed to make changes to its business practices.
The FTC said that LifeLock violated the order by failing to maintain "a comprehensive information-security program" and to avoid deceptive advertising.
LifeLock is based in Tempe, Arizona. Company co-founder and CEO Todd Davis used to put his own Social Security number on business cards and company trucks to advertise LifeLock's services.
LifeLock noted Thursday that it neither confirms nor denies the government's allegations under terms of the new settlement. Once it is approved by the court, the settlement will help bring to a close the FTC case as well as a class-action lawsuit, the company said. A Newark class action attorney is reviewing the details of this case.
"The allegations raised by the FTC are related to advertisements that we no longer run and policies that are no longer in place," LifeLock said in a statement. "The settlement does not require us to change any of our current products or practices. Furthermore, there is no evidence that LifeLock has ever had any of its customers' data stolen, and the FTC did not allege otherwise."
In the latest action, the FTC alleged that LifeLock violated the 2010 order in 2012-14. For example, the company falsely advertised that it would send alerts to customers "as soon as" it saw signs of possible identity theft, the agency said.
Of the $100 million LifeLock is paying consumers, $68 million may be used to reimburse consumers for fees paid to LifeLock under the class-action suit. The remaining $32 million will go to the FTC and also could be used to reimburse customers as ordered by any of the state attorneys general who participated in the action. An Atlanta class action lawyer provides legal counsel in many types of class action suits.
LifeLock's shares fell 30 cents, or 2.1 percent, to end at $13.99 in trading Thursday.
WASHINGTON -- LifeLock is paying $100 million to settle charges by federal regulators that it failed to take adequate measures to protect customers' personal data under a court order.
The Federal Trade Commission announced the settlement Thursday with the provider of identity-theft protection. The agency says it's the largest settlement it has won in this type of enforcement case. A Minneapolis class action lawyer is following this story closely.
The 2010 order by a federal court required LifeLock Inc. to secure customers' data, such as credit card and Social Security numbers, and to avoid false advertising claims. The order resulted from an action brought by the FTC and attorneys general in 35 states, alleging that LifeLock used false claims to promote its services. The company paid $12 million in that settlement, which went mostly to customer refunds, and agreed to make changes to its business practices.
The FTC said that LifeLock violated the order by failing to maintain "a comprehensive information-security program" and to avoid deceptive advertising.
LifeLock is based in Tempe, Arizona. Company co-founder and CEO Todd Davis used to put his own Social Security number on business cards and company trucks to advertise LifeLock's services.
LifeLock noted Thursday that it neither confirms nor denies the government's allegations under terms of the new settlement. Once it is approved by the court, the settlement will help bring to a close the FTC case as well as a class-action lawsuit, the company said. A Newark class action attorney is reviewing the details of this case.
"The allegations raised by the FTC are related to advertisements that we no longer run and policies that are no longer in place," LifeLock said in a statement. "The settlement does not require us to change any of our current products or practices. Furthermore, there is no evidence that LifeLock has ever had any of its customers' data stolen, and the FTC did not allege otherwise."
In the latest action, the FTC alleged that LifeLock violated the 2010 order in 2012-14. For example, the company falsely advertised that it would send alerts to customers "as soon as" it saw signs of possible identity theft, the agency said.
Of the $100 million LifeLock is paying consumers, $68 million may be used to reimburse consumers for fees paid to LifeLock under the class-action suit. The remaining $32 million will go to the FTC and also could be used to reimburse customers as ordered by any of the state attorneys general who participated in the action. An Atlanta class action lawyer provides legal counsel in many types of class action suits.
LifeLock's shares fell 30 cents, or 2.1 percent, to end at $13.99 in trading Thursday.
Tuesday, January 5, 2016
HOW A MAN STALKED HIS EX-WIFE USING A POPULAR IDENTITY THEFT PROTECTION SERVICE
Original Story: boingboing.net
Suzanna Quintan's ex-husband bought a Lifelock account in her name, which let him monitor virtually everything she did in realtime, and then the company stonewalled and refused to help her shut down his access and figure out what he'd learned about her using it. A Detroit consumer lawyer represents clients in fraudulent credit transactions, hazardous or deceptively advertised products, and in fraudulent sales practices.
Lifelock's customer service reps tortured Quintan with contradictory messages, telling her she could, then couldn't, get access to her data. Then they told her it had been destroyed. Then that it would be available, but only to law enforcement. And when she got the cops involved, they stonewalled some more.
It wasn't until the Arizona Republic threatened to embarrass them in print that they gave her any help.
It's no wonder that Lifelock is on Consumer Reports' "Naughty list" for 2015 -- again.
Quintana's records show LifeLock allowed her ex-husband to track her new and existing accounts, credit score, credit reports, financial activity and public records. A Grand Rapids consumer attorney is reviewing the details of this case.
Through LifeLock's fraud-detection system, Quintana's ex-husband also would have had control over her financial activity and been asked to review each transaction or initiate a fraud investigation.
"They didn't listen to me. It's almost like they didn't believe me," Quintana said. "They did not want to admit what they'd done. Since they are an identity-protection company, it was not in their best interest to admit my identity wasn't protected. They tried to shift the blame to me." A Charleston consumer lawyer is following this story closely.
A LifeLock executive on Nov. 9 said the company was conducting a comprehensive review of procedures to ensure better protection for spouses and to work with law enforcement in a timely and effective manner.
Suzanna Quintan's ex-husband bought a Lifelock account in her name, which let him monitor virtually everything she did in realtime, and then the company stonewalled and refused to help her shut down his access and figure out what he'd learned about her using it. A Detroit consumer lawyer represents clients in fraudulent credit transactions, hazardous or deceptively advertised products, and in fraudulent sales practices.
Lifelock's customer service reps tortured Quintan with contradictory messages, telling her she could, then couldn't, get access to her data. Then they told her it had been destroyed. Then that it would be available, but only to law enforcement. And when she got the cops involved, they stonewalled some more.
It wasn't until the Arizona Republic threatened to embarrass them in print that they gave her any help.
It's no wonder that Lifelock is on Consumer Reports' "Naughty list" for 2015 -- again.
Quintana's records show LifeLock allowed her ex-husband to track her new and existing accounts, credit score, credit reports, financial activity and public records. A Grand Rapids consumer attorney is reviewing the details of this case.
Through LifeLock's fraud-detection system, Quintana's ex-husband also would have had control over her financial activity and been asked to review each transaction or initiate a fraud investigation.
"They didn't listen to me. It's almost like they didn't believe me," Quintana said. "They did not want to admit what they'd done. Since they are an identity-protection company, it was not in their best interest to admit my identity wasn't protected. They tried to shift the blame to me." A Charleston consumer lawyer is following this story closely.
A LifeLock executive on Nov. 9 said the company was conducting a comprehensive review of procedures to ensure better protection for spouses and to work with law enforcement in a timely and effective manner.
Monday, December 14, 2015
DANIEL LOEB AND DOW CHEMICAL TRADE SHOTS OVER CEO ANDREW LIVERIS
Original Story: wsj.com
Long-simmering hostility between Dow Chemical Co. and Daniel Loeb reached a boiling point over the weekend, with the shareholder activist calling for the removal of Chief Executive Andrew Liveris in the wake of the company’s agreement to merge with DuPont Co. A Boston M&A lawyer provides professional legal counsel and extensive experience in many aspects of mergers, acquisitions, and divestitures.
On Saturday, a day after Dow unveiled the tie-up, Mr. Loeb sent a private letter to the board raising questions about the deal’s timing. Mr. Loeb supports the merger, which would create an agriculture and chemical giant currently valued at more than $120 billion before breaking it up into three parts. Mr. Liveris is to be executive chairman of the combined company, while DuPont CEO Edward Breen is to maintain that title at the new group.
Mr. Loeb’s letter, reviewed by The Wall Street Journal, questions whether the deal was rushed to be completed before a so-called standstill agreement barring him from publicly speaking about Dow expired this weekend. A Detroit M&A lawyer represents clients ranging from major international corporations to small, closely-held companies.
According to people familiar with the matter, Mr. Loeb believes unanswered questions about leadership, the board and the breakup signal the deal was rushed. He believes a second deal Dow announced Friday to take complete control of joint-venture Dow Corning raises similar questions, the people said.
Dow hit back hard. Directors, including one appointed to the board at the behest of Mr. Loeb’s Third Point LLC, defended the deal and Mr. Liveris in a series of interviews. They called the suggestion on timing “ridiculous” and “difficult to imagine.”
“Personally I think it’s almost laughable to say that anyone tried to engineer this date to the expiration of the standstill,” said Raymond Milchovich, one of the two directors Mr. Loeb had nominated a year ago. “There was never any rushing on the part of management or the boards of either company to skip steps along the way.”
In a statement, the company said the board was unanimous, including Third Point’s directors, in supporting the deal, calling it “a win for all of our shareholders.” A Binghamton M&A attorney represents clients in joint ventures and business transactions.
Mr. Loeb’s feud stands in contrast with the involvement in the merger of another activist, Nelson Peltz’s Trian Fund Management LP.
Trian itself was at odds with DuPont before the two sides in recent weeks came together to help plan the deal. But the significant role the activists have played in the recent history of both companies is the latest sign of how consequential such investors have become.
Mr. Loeb’s Third Point first built a roughly 2% stake in Dow nearly two years ago, calling in January 2014 for a breakup of the company. Dow, which had just announced a restructuring and asset sales it considered significant, rejected his split proposal but added urgency to plans to sell commodity-based and chlorine-products businesses and buy back shares.
In November 2014, Mr. Loeb readied a proxy fight and launched a website that included an attack video on Mr. Liveris’s tenure.
The sides quickly settled the fight, with Mr. Loeb nominating Mr. Milchovich and Robert S. “Steve” Miller to the board and Dow putting up two of its own candidates.
Mr. Loeb was barred from publicly commenting on or attacking Dow for a year, but privately has kept pressure on the board and Mr. Liveris, according to people familiar with the matter. Mr. Loeb has focused in particular on Mr. Liveris’s personal spending, questioning if shareholders are funding it. The company has previously disclosed Mr. Liveris had to pay the company back more than $719,000 after what it described as a routine audit committee investigation. A Tulsa M&A lawyer assist clients with acquisitions and mergers.
Jeff Fettig, the lead independent director of the board, reiterated Dow’s earlier comments on the matter in an interview Sunday, saying any questions about Mr. Liveris have been answered. He and the other directors defended the company’s results and the DuPont deal.
“The board has been unanimous about the Dow’s leadership team including management making this transaction,” Mr. Fettig said. “Candidly, it would be difficult to imagine any other reason we would conclude this deal other than we got our work done.”
A third director, Ruth Shaw, said the board believed Mr. Liveris was “essential” to the execution of the merger with DuPont. “Quite frankly, I think the question is can we keep him?” she said. The directors said the deal was the best option for shareholders.
Mr. Loeb privately threatened earlier this month to start a new campaign once he was free to do so, the people familiar with the matter said. He called the company’s shareholder returns "woeful” and called for a search committee to be formed to identify a new chief executive, the people said.
The merger between DuPont and Dow and the subsequent breakup plan appeared to address several of his concerns, including a separation of Dow’s businesses.
Mr. Liveris hinted publicly Friday that he was nearing retirement and described the deal as a “culmination.”
In a response to Mr. Loeb Sunday, the Dow board moved a step further, saying Mr. Liveris has been clear that “he does not contemplate serving” as CEO of the new material-sciences business that will emerge from the breakup.
“He should not have any role in the post-merger entity,” Mr. Loeb wrote of Mr. Liveris. Giving him the executive chairman title “is a slap and an insult to Dow shareholders,” he wrote.
Long-simmering hostility between Dow Chemical Co. and Daniel Loeb reached a boiling point over the weekend, with the shareholder activist calling for the removal of Chief Executive Andrew Liveris in the wake of the company’s agreement to merge with DuPont Co. A Boston M&A lawyer provides professional legal counsel and extensive experience in many aspects of mergers, acquisitions, and divestitures.
On Saturday, a day after Dow unveiled the tie-up, Mr. Loeb sent a private letter to the board raising questions about the deal’s timing. Mr. Loeb supports the merger, which would create an agriculture and chemical giant currently valued at more than $120 billion before breaking it up into three parts. Mr. Liveris is to be executive chairman of the combined company, while DuPont CEO Edward Breen is to maintain that title at the new group.
Mr. Loeb’s letter, reviewed by The Wall Street Journal, questions whether the deal was rushed to be completed before a so-called standstill agreement barring him from publicly speaking about Dow expired this weekend. A Detroit M&A lawyer represents clients ranging from major international corporations to small, closely-held companies.
According to people familiar with the matter, Mr. Loeb believes unanswered questions about leadership, the board and the breakup signal the deal was rushed. He believes a second deal Dow announced Friday to take complete control of joint-venture Dow Corning raises similar questions, the people said.
Dow hit back hard. Directors, including one appointed to the board at the behest of Mr. Loeb’s Third Point LLC, defended the deal and Mr. Liveris in a series of interviews. They called the suggestion on timing “ridiculous” and “difficult to imagine.”
“Personally I think it’s almost laughable to say that anyone tried to engineer this date to the expiration of the standstill,” said Raymond Milchovich, one of the two directors Mr. Loeb had nominated a year ago. “There was never any rushing on the part of management or the boards of either company to skip steps along the way.”
In a statement, the company said the board was unanimous, including Third Point’s directors, in supporting the deal, calling it “a win for all of our shareholders.” A Binghamton M&A attorney represents clients in joint ventures and business transactions.
Mr. Loeb’s feud stands in contrast with the involvement in the merger of another activist, Nelson Peltz’s Trian Fund Management LP.
Trian itself was at odds with DuPont before the two sides in recent weeks came together to help plan the deal. But the significant role the activists have played in the recent history of both companies is the latest sign of how consequential such investors have become.
Mr. Loeb’s Third Point first built a roughly 2% stake in Dow nearly two years ago, calling in January 2014 for a breakup of the company. Dow, which had just announced a restructuring and asset sales it considered significant, rejected his split proposal but added urgency to plans to sell commodity-based and chlorine-products businesses and buy back shares.
In November 2014, Mr. Loeb readied a proxy fight and launched a website that included an attack video on Mr. Liveris’s tenure.
The sides quickly settled the fight, with Mr. Loeb nominating Mr. Milchovich and Robert S. “Steve” Miller to the board and Dow putting up two of its own candidates.
Mr. Loeb was barred from publicly commenting on or attacking Dow for a year, but privately has kept pressure on the board and Mr. Liveris, according to people familiar with the matter. Mr. Loeb has focused in particular on Mr. Liveris’s personal spending, questioning if shareholders are funding it. The company has previously disclosed Mr. Liveris had to pay the company back more than $719,000 after what it described as a routine audit committee investigation. A Tulsa M&A lawyer assist clients with acquisitions and mergers.
Jeff Fettig, the lead independent director of the board, reiterated Dow’s earlier comments on the matter in an interview Sunday, saying any questions about Mr. Liveris have been answered. He and the other directors defended the company’s results and the DuPont deal.
“The board has been unanimous about the Dow’s leadership team including management making this transaction,” Mr. Fettig said. “Candidly, it would be difficult to imagine any other reason we would conclude this deal other than we got our work done.”
A third director, Ruth Shaw, said the board believed Mr. Liveris was “essential” to the execution of the merger with DuPont. “Quite frankly, I think the question is can we keep him?” she said. The directors said the deal was the best option for shareholders.
Mr. Loeb privately threatened earlier this month to start a new campaign once he was free to do so, the people familiar with the matter said. He called the company’s shareholder returns "woeful” and called for a search committee to be formed to identify a new chief executive, the people said.
The merger between DuPont and Dow and the subsequent breakup plan appeared to address several of his concerns, including a separation of Dow’s businesses.
Mr. Liveris hinted publicly Friday that he was nearing retirement and described the deal as a “culmination.”
In a response to Mr. Loeb Sunday, the Dow board moved a step further, saying Mr. Liveris has been clear that “he does not contemplate serving” as CEO of the new material-sciences business that will emerge from the breakup.
“He should not have any role in the post-merger entity,” Mr. Loeb wrote of Mr. Liveris. Giving him the executive chairman title “is a slap and an insult to Dow shareholders,” he wrote.
Friday, December 11, 2015
JPMORGAN WROTE CLIENT COMPLAINTS AGAINST WHISTLEBLOWER
Original Story: financialadvisoriq.com
According to one former JPMorgan broker, the wirehouse was so angry when he leaked that supervisors pressured him to favor proprietary mutual funds that it fabricated clients’ complaints against him and duped them into signing, the New York Times reports.
Carolyn Scott, one of the people who signed complaints against Johnny Burris in 2013, told the paper that she had signed some document on the vague promise of getting some money back, without ever understanding what the document was. She added that she’d had “no problems” with Burris. Another client, whose identity the Times did not reveal, could not have written the complaint because he was “essentially unable to read or write,” notes the paper. Memphis wrongful termination lawyer help clients pursue claims for wrongful termination and seek to recover back pay and compensatory damages.
The case goes back to 2012, when Burris, who earlier that year had been promoted into an “elite” private-client group, secretly recorded bank supervisors at his Arizona branch pressuring him to sell JPMorgan mutual funds over competitors’ offerings and shared it with the media and regulators, prompting an SEC investigation that contributed to the $100 million settlement the bank is making in relation to the marketing of its own products, people familiar with the negotiations tell the Times.
The client complaints appeared on his publicly available records in 2013 after Burris’s concerns were reported in the media. This made it difficult for Burris to find work and ruined his case alleging wrongful termination, the paper writes. Burris has an outstanding whistleblower case against JPMorgan with the Occupational Safety and Health Administration, says the paper. A spokeswoman for Finra says the organization is looking into the allegations about the client complaints. An Atlanta whistleblower lawyer represents clients in qui tam actions and protects them against retaliation for investigating and bringing these actions.
A JPMorgan spokeswoman said that one of Burris’s former coworkers, Laya Gavin, did assist clients in writing the letters “as a courtesy,” typing up what the clients told her and reading it back to the clients. But the clients said Gavin had not read back the complaints prior to having them sign and that the complaints “did not reflect their sentiments,” the Times writes. Meanwhile, Leona Weakland, one of the clients who had signed the complaints but has since come to Burris’s defense, along with her husband, actually took their money out of JPMorgan to have Burris manage it, the paper reports. A Maine whistleblower litigation attorney represent clients in civil litigation and federal litigation cases.
Other brokers went public with their complaints about the pressure to sell JPMorgan’s mutual funds in managed accounts around the same time as Burris, but he was fired within months, according to the Times. JPMorgan supervisors also alleged that Burris made trades for two clients but recorded the transactions as initiated by them. However, those clients have since come forward to support his version of events, the paper points out.
According to one former JPMorgan broker, the wirehouse was so angry when he leaked that supervisors pressured him to favor proprietary mutual funds that it fabricated clients’ complaints against him and duped them into signing, the New York Times reports.
Carolyn Scott, one of the people who signed complaints against Johnny Burris in 2013, told the paper that she had signed some document on the vague promise of getting some money back, without ever understanding what the document was. She added that she’d had “no problems” with Burris. Another client, whose identity the Times did not reveal, could not have written the complaint because he was “essentially unable to read or write,” notes the paper. Memphis wrongful termination lawyer help clients pursue claims for wrongful termination and seek to recover back pay and compensatory damages.
The case goes back to 2012, when Burris, who earlier that year had been promoted into an “elite” private-client group, secretly recorded bank supervisors at his Arizona branch pressuring him to sell JPMorgan mutual funds over competitors’ offerings and shared it with the media and regulators, prompting an SEC investigation that contributed to the $100 million settlement the bank is making in relation to the marketing of its own products, people familiar with the negotiations tell the Times.
The client complaints appeared on his publicly available records in 2013 after Burris’s concerns were reported in the media. This made it difficult for Burris to find work and ruined his case alleging wrongful termination, the paper writes. Burris has an outstanding whistleblower case against JPMorgan with the Occupational Safety and Health Administration, says the paper. A spokeswoman for Finra says the organization is looking into the allegations about the client complaints. An Atlanta whistleblower lawyer represents clients in qui tam actions and protects them against retaliation for investigating and bringing these actions.
A JPMorgan spokeswoman said that one of Burris’s former coworkers, Laya Gavin, did assist clients in writing the letters “as a courtesy,” typing up what the clients told her and reading it back to the clients. But the clients said Gavin had not read back the complaints prior to having them sign and that the complaints “did not reflect their sentiments,” the Times writes. Meanwhile, Leona Weakland, one of the clients who had signed the complaints but has since come to Burris’s defense, along with her husband, actually took their money out of JPMorgan to have Burris manage it, the paper reports. A Maine whistleblower litigation attorney represent clients in civil litigation and federal litigation cases.
Other brokers went public with their complaints about the pressure to sell JPMorgan’s mutual funds in managed accounts around the same time as Burris, but he was fired within months, according to the Times. JPMorgan supervisors also alleged that Burris made trades for two clients but recorded the transactions as initiated by them. However, those clients have since come forward to support his version of events, the paper points out.
Thursday, December 10, 2015
FEWER HOMES UNDERWATER AS REAL ESTATE PRICES REBOUND
Original Story: wtsp.com
Tampa, FL -- There's good news for homeowners who may have gotten caught in the real estate market crash. Prices -- according to the real estate site Zillow -- are rebounding, leaving fewer people underwater.
That means for the first time in years, the value of their homes has finally caught up with the amount they owe on their mortgages. That means more people may be willing to sell, and get the local real estate market rolling again. A South Tampa custom home can be altered to suit your personal lifestyle.
"Extremely excited. It took only four days to sell. So, now we can close on our other house," said Emily David, who just sold her home and is planning to buy a new home in just two weeks.
Between the price David paid for her house a few years ago and the cost of renovations, there was a period when she and her husband wondered if they'd break even on their South Tampa home.
"Probably in the first couple of years," she said, "But this year the market really turned so we're real excited about that."
For several years, millions of homes around the country were underwater. People who bought them at the peak of the market owed more than they were worth after the real estate crash. A Pinellas County custom home builder will help protect your families' investment by offering quality custom designs.
According to Zillow, 31% of homes were underwater at the low. But that's rebounded, according to the newest figures. Now – just 13.4%.
"Yeah, it's definitely better news. Obviously we're not out of the woods. We still have a lot of underwater homes, but it's moving in the right direction," said Tampa Bay Realtor Cristan Fadal.
Fadal says it's good news for the recovering real estate market. As prices have slowly increased, fewer homes have negative equity, enabling those who were stuck – to finally – sell. An East Lake custom home builder can assist you with home modifications.
"People are going to be able to move," said Fadal. "They're going to be able to start something new. Maybe buy a new home. The next generation is going to come in. Purchase a home. Maybe improve that home [while still] getting a good price."
"We're just excited because now we get to go into a new house that we get to build, so it's a fun process," said David.
Experts still warn buyers to be selective. While parts of the Bay area are rebounding, Zillow's interactive tool shows many zip codes here are still hurting, with the number of underwater homes still more than three times the national average in some areas.
One reason some communities may be slower to rebound, say experts, is because most of the homes in those subdivisions were built near the peak of the market, when prices were at their highest. When building a new home, don't forget about the leading provider of new garage doors.
It stands to reason, then, that it will take that much longer for those homes to sell, unless owners are willing to take a loss.
Tampa, FL -- There's good news for homeowners who may have gotten caught in the real estate market crash. Prices -- according to the real estate site Zillow -- are rebounding, leaving fewer people underwater.
That means for the first time in years, the value of their homes has finally caught up with the amount they owe on their mortgages. That means more people may be willing to sell, and get the local real estate market rolling again. A South Tampa custom home can be altered to suit your personal lifestyle.
"Extremely excited. It took only four days to sell. So, now we can close on our other house," said Emily David, who just sold her home and is planning to buy a new home in just two weeks.
Between the price David paid for her house a few years ago and the cost of renovations, there was a period when she and her husband wondered if they'd break even on their South Tampa home.
"Probably in the first couple of years," she said, "But this year the market really turned so we're real excited about that."
For several years, millions of homes around the country were underwater. People who bought them at the peak of the market owed more than they were worth after the real estate crash. A Pinellas County custom home builder will help protect your families' investment by offering quality custom designs.
According to Zillow, 31% of homes were underwater at the low. But that's rebounded, according to the newest figures. Now – just 13.4%.
"Yeah, it's definitely better news. Obviously we're not out of the woods. We still have a lot of underwater homes, but it's moving in the right direction," said Tampa Bay Realtor Cristan Fadal.
Fadal says it's good news for the recovering real estate market. As prices have slowly increased, fewer homes have negative equity, enabling those who were stuck – to finally – sell. An East Lake custom home builder can assist you with home modifications.
"People are going to be able to move," said Fadal. "They're going to be able to start something new. Maybe buy a new home. The next generation is going to come in. Purchase a home. Maybe improve that home [while still] getting a good price."
"We're just excited because now we get to go into a new house that we get to build, so it's a fun process," said David.
Experts still warn buyers to be selective. While parts of the Bay area are rebounding, Zillow's interactive tool shows many zip codes here are still hurting, with the number of underwater homes still more than three times the national average in some areas.
One reason some communities may be slower to rebound, say experts, is because most of the homes in those subdivisions were built near the peak of the market, when prices were at their highest. When building a new home, don't forget about the leading provider of new garage doors.
It stands to reason, then, that it will take that much longer for those homes to sell, unless owners are willing to take a loss.
WHAT HAPPENS TO YOUR BOND FUND WHEN INTEREST RATES RISE
Original Story: wsj.com
Many bond-fund investors are anxious about the effects on their holdings as the Federal Reserve boosts short-term interest rates, a process the central bank may start this month.
For good reason: When rates in the marketplace rise, the prices of older bonds with lower rates fall.
But over a period of years, bond-fund investors will do better in an environment of rising interest rates than in one in which rates stay at today’s unusually low levels. Bonds can still perform when interest rates rise.
That because as the bonds in funds’ portfolios mature, managers will reinvest in newer issues with higher interest rates, and investors will benefit from increased income. In addition, the interest payments from the bonds in the portfolio will be reinvested at higher rates.
“An initial rate increase could cause pain in the short term,” says Joshua Barrickman, head of fixed-income indexing, Americas, at Vanguard Group. “But over the long term, it will act to your benefit.”
At The Wall Street Journal’s request, Vanguard looked at the math for a hypothetical investor in intermediate-term bond funds. These are one of the most popular types of bond funds, generally investing in investment-grade bonds which mature within four to 10 years. For simplicity, the Malvern, Pa., fund company assumed the Fed raises short-term interest rates by 0.25 percentage point in January, and then makes a similar-sized increase every other quarter through July 2019, for a total climb of two percentage points spread over eight increases.
Under that scenario, a typical intermediate-term bond fund would lose a modest 0.15% next year but generate positive yearly returns thereafter, Vanguard found. The figures are total returns including price change and income.
Over the first several years, investors would earn less than if rates remained at current levels. But starting in the second quarter of 2023—more than three years after the end of the rate increases—investors in such a fund would be ahead of where they would have been had there been no rate increase, Vanguard found.
If rates were to climb more quickly, the funds could suffer steeper initial losses. But that’s unlikely as the Fed has repeatedly indicated that rate increases will be gradual. Bonds can provide for compounded growth opportunities when the income received from the bonds is reinvested.
“Intermediate-term bond-fund investors may feel a little sting, but it’s certainly not going to be a bleed-out,” says Marilyn Cohen, chief executive at Envision Capital Management Inc., a registered investment adviser that specializes in individual bonds.
She notes that the Fed has telegraphed a rate increase so well that few investors should be surprised. If investors were taken by surprise, they might be more likely to pull large sums out of bond funds, which could have the effect of exacerbating bond price declines.
Investors in bond funds are generally very long-term investors who hold the funds for their ability to absorb volatility and/or for the income they throw off, says Mr. Barrickman of Vanguard. Vanguard investors didn’t do any meaningful selling in prior periods of rising rates, the firm says, and no panicky selling is expected this time.
The Fed is well aware of the importance of setting investors’ expectations, says Jeff Tjornehoj, head of Americas research at Thomson Reuters Lipper. The central bank was clear about its intentions when it raised interest rates “pretty aggressively” from May 2004 through July 2006, and there were “fairly steady, if not heavy, inflows” into taxable bond funds, he says. But in 1994, when the Fed didn’t communicate it was interested in raising rates and did so quickly, investors pulled $33.3 billion overall from taxable bond funds, Mr. Tjornehoj says. A New York investment lawyer is reviewing the details of this story.
“That’s the period the Fed does not want to relive,” he says.
It’s impossible to know exactly how various types of bonds will perform when the Fed raises its target for short-term rates. One question is whether long-term rates follow short-term rates upward. While the Fed controls short-term rates, supply and demand in the market determine long-term rates.
Bonds of varying credit quality also may perform differently.
“To predict how these bond funds will react is really a difficult game to play,” says Sumit Desai, senior fixed-income analyst at Morningstar Inc. “It’s important for advisers and individual investors to at least understand that there’s a little bit of uncertainty within the space.”
“Whether investors believe the Fed is acting too quickly, too slowly, or perhaps not enough can make all the difference,” Eric Jacobson, a senior analyst at Morningstar, wrote recently. Other factors at play today include “a relatively weak global economic outlook and strong overseas demand for long-term Treasurys,” he said. “That makes it extra tricky to predict how funds will fare when the Fed chooses to act.”
Another factor to consider: Many bond-fund managers have bought shorter-term bonds and taken other steps to make their portfolios less sensitive to an interest-rate increase than they might have been otherwise, says Lee Partridge, chief investment officer at Salient, an asset manager based in Houston.
Investors should keep in mind that the Fed may not raise rates at all this year; it has surprised pundits before.
Many bond-fund investors are anxious about the effects on their holdings as the Federal Reserve boosts short-term interest rates, a process the central bank may start this month.
For good reason: When rates in the marketplace rise, the prices of older bonds with lower rates fall.
But over a period of years, bond-fund investors will do better in an environment of rising interest rates than in one in which rates stay at today’s unusually low levels. Bonds can still perform when interest rates rise.
That because as the bonds in funds’ portfolios mature, managers will reinvest in newer issues with higher interest rates, and investors will benefit from increased income. In addition, the interest payments from the bonds in the portfolio will be reinvested at higher rates.
“An initial rate increase could cause pain in the short term,” says Joshua Barrickman, head of fixed-income indexing, Americas, at Vanguard Group. “But over the long term, it will act to your benefit.”
At The Wall Street Journal’s request, Vanguard looked at the math for a hypothetical investor in intermediate-term bond funds. These are one of the most popular types of bond funds, generally investing in investment-grade bonds which mature within four to 10 years. For simplicity, the Malvern, Pa., fund company assumed the Fed raises short-term interest rates by 0.25 percentage point in January, and then makes a similar-sized increase every other quarter through July 2019, for a total climb of two percentage points spread over eight increases.
Under that scenario, a typical intermediate-term bond fund would lose a modest 0.15% next year but generate positive yearly returns thereafter, Vanguard found. The figures are total returns including price change and income.
Over the first several years, investors would earn less than if rates remained at current levels. But starting in the second quarter of 2023—more than three years after the end of the rate increases—investors in such a fund would be ahead of where they would have been had there been no rate increase, Vanguard found.
If rates were to climb more quickly, the funds could suffer steeper initial losses. But that’s unlikely as the Fed has repeatedly indicated that rate increases will be gradual. Bonds can provide for compounded growth opportunities when the income received from the bonds is reinvested.
“Intermediate-term bond-fund investors may feel a little sting, but it’s certainly not going to be a bleed-out,” says Marilyn Cohen, chief executive at Envision Capital Management Inc., a registered investment adviser that specializes in individual bonds.
She notes that the Fed has telegraphed a rate increase so well that few investors should be surprised. If investors were taken by surprise, they might be more likely to pull large sums out of bond funds, which could have the effect of exacerbating bond price declines.
Investors in bond funds are generally very long-term investors who hold the funds for their ability to absorb volatility and/or for the income they throw off, says Mr. Barrickman of Vanguard. Vanguard investors didn’t do any meaningful selling in prior periods of rising rates, the firm says, and no panicky selling is expected this time.
The Fed is well aware of the importance of setting investors’ expectations, says Jeff Tjornehoj, head of Americas research at Thomson Reuters Lipper. The central bank was clear about its intentions when it raised interest rates “pretty aggressively” from May 2004 through July 2006, and there were “fairly steady, if not heavy, inflows” into taxable bond funds, he says. But in 1994, when the Fed didn’t communicate it was interested in raising rates and did so quickly, investors pulled $33.3 billion overall from taxable bond funds, Mr. Tjornehoj says. A New York investment lawyer is reviewing the details of this story.
“That’s the period the Fed does not want to relive,” he says.
It’s impossible to know exactly how various types of bonds will perform when the Fed raises its target for short-term rates. One question is whether long-term rates follow short-term rates upward. While the Fed controls short-term rates, supply and demand in the market determine long-term rates.
Bonds of varying credit quality also may perform differently.
“To predict how these bond funds will react is really a difficult game to play,” says Sumit Desai, senior fixed-income analyst at Morningstar Inc. “It’s important for advisers and individual investors to at least understand that there’s a little bit of uncertainty within the space.”
“Whether investors believe the Fed is acting too quickly, too slowly, or perhaps not enough can make all the difference,” Eric Jacobson, a senior analyst at Morningstar, wrote recently. Other factors at play today include “a relatively weak global economic outlook and strong overseas demand for long-term Treasurys,” he said. “That makes it extra tricky to predict how funds will fare when the Fed chooses to act.”
Another factor to consider: Many bond-fund managers have bought shorter-term bonds and taken other steps to make their portfolios less sensitive to an interest-rate increase than they might have been otherwise, says Lee Partridge, chief investment officer at Salient, an asset manager based in Houston.
Investors should keep in mind that the Fed may not raise rates at all this year; it has surprised pundits before.
Monday, December 7, 2015
NEW HOMEOWNERS STUCK WITH THEIR TAMPA BUILDERS’S STUCCO BILL
Original Story: wfla.com
PASCO COUNTY, FL (WFLA) – Bright, beautiful stucco. It’s part what makes Wesley Chapel’s new Estancia community so appealing. But now, homeowners are stuck with liens from the subcontractor who made their paint so pretty. Custom homes in Tampa are built to specifically suit your needs.
“Our house is paid for in the form of a loan, they need to pay the trades that did the work,” said the new homeowner, Mark Pattison.
The stucco company, Tampa’s Construction Coating Group, Inc., accuses Standard Pacific Homes of sticking them with a $90,000 bill. Who gets to pay that bill? The homeowners.
Pattison is furious about the lien he received for $6,202.72. And he’s even angrier about how his builder handled his complaint.
“They treated it like it was a joke,” Pattison said. “They said the vice president or the general manager of Standard Pacific lives within our community and that he got a lien, and it’s no big deal.”
But homeowners, like Marcia Duerrmeier, think it’s a big deal. Custom homes in St. Petersburg provide education and careful planning prior to the start of construction.
“I picked it up at the post office, registered mail and I opened it there and I just started to laugh because it was the last straw dealing with these people.”
Making this even worse, homeowners are also dealing with what they call “shoddy” construction. They note problems with leaky showers, creaky floors and wobbly doors.
Standard Pacific sent 8 On Your Side this lengthy statement:
“Standard Pacific is aware that several homeowners in its Estancia community received lien notices from a former Standard Pacific subcontractor, Construction Coatings Group. Standard Pacific and Construction Coatings are involved in a dispute about the amount of money that Construction Coatings claims to be owed. Unfortunately, Construction Coatings chose to involve Standard Pacific homeowners in a dispute that should have been solely between Construction Coatings and Standard Pacific.
“Standard Pacific builds thousands of homes across the country and periodically encounters disputes with subcontractors regarding amounts owed for work performed. Standard Pacific is always successful in resolving these disputes and protecting its homeowners from any potential harm. As to the Construction Coatings’ lien notices, Standard Pacific has taken and will continue to take all actions necessary to ensure that the liens are removed from the title by recording lien releases or transferring the liens to bonds. Standard Pacific will do this at its own expense. Standard Pacific apologizes for any inconvenience caused by Construction Coatings’ actions and appreciates its homeowners’ patience as it works through this dispute. Custom homes in Hillsborough County save customers time and money by using in-house drafting to design homes.
“Standard Pacific takes great pride in the homes it builds. And Standard Pacific has an 89.3% customer approval rating in its Tampa division. As with any new home construction, there may be instances where Standard Pacific will need to visit a home after closing to address a homeowner’s service request. Standard Pacific encourages its Estancia homeowners to contact the Customer Care hotline at 813-534-5520 with any service requests they have or if they have any questions or concerns about their homes.”
8 On Your Side went to attorney C. Todd Marks for advice. He said this could be serious problems for homeowners.
“Let’s be clear, the subcontractor could move to foreclose on that lien and foreclose on those properties,” Marks said. “If the lien in just sitting out there, it could prevent the sale of those properties.”
Some are tempted to just pay the bill… but Marks advises against that, too…adding even that could cause legal issues. He advises to call to builder, send a demand letter and, if that doesn’t work, hire an attorney.
PASCO COUNTY, FL (WFLA) – Bright, beautiful stucco. It’s part what makes Wesley Chapel’s new Estancia community so appealing. But now, homeowners are stuck with liens from the subcontractor who made their paint so pretty. Custom homes in Tampa are built to specifically suit your needs.
“Our house is paid for in the form of a loan, they need to pay the trades that did the work,” said the new homeowner, Mark Pattison.
The stucco company, Tampa’s Construction Coating Group, Inc., accuses Standard Pacific Homes of sticking them with a $90,000 bill. Who gets to pay that bill? The homeowners.
Pattison is furious about the lien he received for $6,202.72. And he’s even angrier about how his builder handled his complaint.
“They treated it like it was a joke,” Pattison said. “They said the vice president or the general manager of Standard Pacific lives within our community and that he got a lien, and it’s no big deal.”
But homeowners, like Marcia Duerrmeier, think it’s a big deal. Custom homes in St. Petersburg provide education and careful planning prior to the start of construction.
“I picked it up at the post office, registered mail and I opened it there and I just started to laugh because it was the last straw dealing with these people.”
Making this even worse, homeowners are also dealing with what they call “shoddy” construction. They note problems with leaky showers, creaky floors and wobbly doors.
Standard Pacific sent 8 On Your Side this lengthy statement:
“Standard Pacific is aware that several homeowners in its Estancia community received lien notices from a former Standard Pacific subcontractor, Construction Coatings Group. Standard Pacific and Construction Coatings are involved in a dispute about the amount of money that Construction Coatings claims to be owed. Unfortunately, Construction Coatings chose to involve Standard Pacific homeowners in a dispute that should have been solely between Construction Coatings and Standard Pacific.
“Standard Pacific builds thousands of homes across the country and periodically encounters disputes with subcontractors regarding amounts owed for work performed. Standard Pacific is always successful in resolving these disputes and protecting its homeowners from any potential harm. As to the Construction Coatings’ lien notices, Standard Pacific has taken and will continue to take all actions necessary to ensure that the liens are removed from the title by recording lien releases or transferring the liens to bonds. Standard Pacific will do this at its own expense. Standard Pacific apologizes for any inconvenience caused by Construction Coatings’ actions and appreciates its homeowners’ patience as it works through this dispute. Custom homes in Hillsborough County save customers time and money by using in-house drafting to design homes.
“Standard Pacific takes great pride in the homes it builds. And Standard Pacific has an 89.3% customer approval rating in its Tampa division. As with any new home construction, there may be instances where Standard Pacific will need to visit a home after closing to address a homeowner’s service request. Standard Pacific encourages its Estancia homeowners to contact the Customer Care hotline at 813-534-5520 with any service requests they have or if they have any questions or concerns about their homes.”
8 On Your Side went to attorney C. Todd Marks for advice. He said this could be serious problems for homeowners.
“Let’s be clear, the subcontractor could move to foreclose on that lien and foreclose on those properties,” Marks said. “If the lien in just sitting out there, it could prevent the sale of those properties.”
Some are tempted to just pay the bill… but Marks advises against that, too…adding even that could cause legal issues. He advises to call to builder, send a demand letter and, if that doesn’t work, hire an attorney.
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