All Hail the Millenial Homebuyer !

Millennials Leave the Basement to Buy Homes This points to a rise in spending on furniture, appliances, electronics and cars that will lift earnings and power stocks. Bloomberg, November 10, 2017     A few years ago, I wrote “The economy will one day improve, and the millennials will move out of their parents’ basements. When that happens, expect… Read More The post All Hail the Millenial Homebuyer ! appeared first on The Big Picture.

Rhône to invest $500 mln in HBC, which is selling Lord & Taylor Fifth Ave Building

Rhône Capital has agreed to make an investment of $500 million in global retailer HBC. Also, WeWork Property Advisors, a joint venture between WeWork, an operator of shared office and co-living space and Rhône, has agreed to acquire the Lord & Taylor Fifth Avenue building from HBC in a deal valued at $850 million. The flagship store housed in that space will operate throughout the 2018 holiday season before being turned into WeWork’s New York headquarters, WeWork office space and a redesigned Lord & Taylor store. BofA Merrill Lynch and RBC Capital Markets are serving as financial advisers to HBC while Morgan Stanley is doing likewise to WeWork Property Advisors and Rhône. PRESS RELEASE TORONTO & NEW YORK–(BUSINESS WIRE)–HBC (TSX:HBC) today announced a series of strategic transactions with WeWork Companies (“WeWork”), Rhône Capital (together with Rhône Group and affiliates, “Rhône”) and an affiliate of WeWork Property Advisors (“WeWork
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Distressed Communities Index

This is quite interesting: U.S. geographical economic inequality is growing, meaning your economic opportunity is more tied to your location than ever before. A large portion of the country is being left behind by today’s economy, according to a county-by-county report released this morning by the Economic Innovation Group, a non-profit research and advocacy organization.   click… Read More The post Distressed Communities Index appeared first on The Big Picture.

MiB: Rich Barton on Making Information Available to All

This week, we sit down with Rich Barton, the Microsoft engineer who developed Expedia while working for Bill Gates and Steve Ballmer in the 1990s. Expedia was spun out of Microsoft, and while CEO Barton took it public, before it was eventually acquired by Barry Diller’s IAC. He is also the co-founder of Zillow, and Glass Door, and is on the… Read More The post MiB: Rich Barton on Making Information Available to All appeared first on The Big Picture.

Photographs from Grenfell Tower

By Lambert Strether of Corrente. I said I had some things to do before I left London; one of them was to go see if I could take some photographs of Grenfell Tower. We don’t normally do photo essays at Naked Capitalism, but since I was on the spot, I thought it made sense. The […]