Monthly Archives: December 2016

George Soros Justifies why Ukraine Needs Debt Relief

Published / by Flash

Billionaire and accomplished businessperson, George Soros is well-known for his philanthropic spirit and contributions to the betterment of society. George Soros does his through his Open Society Foundation. Apart from such actions, Soros is one man who is never afraid of airing his opinion. In recent times, he has remained highly vocal regarding Ukraine’s recovery. Most importantly, he has served a huge role in seeking assistance for Ukraine from various parties such as the European Union. As such, George Soros Ukraine penned down an article on The Wall Street Journal in an attempt to seek support for Ukraine in its endeavors to get its economy back on its feet.

According to George Soros, Ukraine has been striving to come up with a suitable deal with its creditors. This effort has been a move to meet the condition laid down by the International Monetary Fund in a bid to receive more financial support. Worst case scenario, the Russian aggression has affected the new Ukraine’s economy negatively. This has rendered the nation’s $19 billion in debt unsustainable. However, talks have been going on to renegotiate Ukraine’s debt.

Negotiations with Lenders

George Soros also cited that Ukraine had no alternative for bankruptcy. This is because of lacking any chapter 11 for independent borrowers to end the conflict between lenders and borrowers, mediate negotiations between both parties and decide the debts that were to be reorganized. This situation has forced both Ukraine and its private lenders into negotiating a favorable deal in a setting whereby only might makes right. For Soros, the only negotiating leverage that Ukraine has in such a situation is threatening to default payment if it does not get debt relief. Reference: http://www.nybooks.com/articles/2015/10/08/ukraine-europe-what-should-be-done/

Sovereign Debts

The 1980s Latina America’s situation has proven that sovereign debts can be not only costly but also have long-lasting consequences. Countries that reach speedy agreements with their lenders usually bounce back in the market after a year or even two. Soros attributed the economic issues that cause a default to keeping a country out of the market as opposed to the default itself.

Reforms in Ukraine

The Ukrainian government has been striving to establish structural reforms such as those demanded by the 1989 Brady Plan. Some of these reforms include weaning the country from Russian gas, eradicating corruption, boosting agriculture, improving the judicial system, cleaning up the banking system, integrating the economy with the EU and many others. The billionaire also claimed that if debt relief can boost such reforms, then the investors should demand it and disregard the debate that defaulting would cause problems. This means that if the only way to get debt relief is through defaulting, then investors ought to be applauding instead of condemning Ukraine for contemplating to do so.

George Soros also requested Ukraine’s bondholders to admit to the fear losing their money instead of trying to convince Ukraine that debt relief would spell out doom for the country. He appealed to them to be sincere and quit making such false claims based on their self-interests as opposed to those of Ukraine.

Read the articles about George Soros and Ukraine on NY Books

Hampshire Insurance Is Being Sued By Bruce Levenson, Former Owner Of The Atlanta Hawks

Published / by Flash

Former NBA franchise owners, Atlanta Hawks Basketball and Entertainment, have filed a lawsuit against the New Hampshire Insurance Company, claiming that they have made a breach in their contract, failing to abide by their policy over the claims made by Danny Ferry, the former General Manager of the team. Bruce and his team at AHBE have stated that the lawsuit does not pertain to the Atlanta Hawks new owner, Tony Ressler, and they will in no way partake in the lawsuit. This all happened around the same time Tony Ressler and his partners bought ownership of the team, ending the 6 year long contract between the Hawks, Bruce Levenson, and Danny Ferry.

According to Atlanta Hawks Basketball and Entertainment, AIG, the insurance company in question, did not cover losses that were related to wrongful termination or workplace torts, which brought about the civil action and filing to the Superior Court. They also stated that the insurance company was contacted about the issues and the problem was thought to be settled, but ignored the problem since early 2015. The current spokesmen for the Hawks have stated they are aware of the complaint in question, but have no ties or commitments to the previous owners. Full information on the amount of the claim has not been released, as it has been held confidential for the time being.

Today, Bruce Levenson is widely known as an American businessman and previous owner of the Atlanta Hawks, along with his work in philanthropy, http://www.prnewswire.com/news-releases/undergrads-and-graduate-students-mastering-philanthropy-300038081.html. He has founded and co-founded several businesses to date, and he was even on the NBA Board of Governor’s back in 2014.

Visit the brucelevenson website and wikipedia page for more info.

Twenty Three Layers Is A Leader In Event Planning

Published / by Flash

Planning an event can be a huge undertaking for almost anyone. That’s because there are a lot of different parts to keep track of. When planning an event, you have to plan guest lists, food, location, and more. It becomes overwhelming and the hostess doesn’t get to think about what’s truly important which is having fun and making sure guests are having fun. Instead, they are trying to too many things. That’s why hiring an event planner is a good idea, they take the guesswork out of the occasion. Their professionals that handle the technical aspects so that the host can worry about all of the fun stuff.

 

A recent article in The Balance talked about what you need to know before hiring an event planner. They noted that you should define your objectives and expectations for an event. This helps the planner to be able to cater to your needs. You should also plan your budget ahead of time so you don’t stress over costs later, choose a trustworthy planner, and meet the planner in person. It’s crucial that the host does the research when it comes to different planners and they should meet with several different ones till they find the one they feel comfortable with. A hostess wants to choose someone that they can see eye to eye with when it comes to planning the events. This helps everyone get on the same page so there are no surprises later.

 

When it comes to finding trustworthy event planners in New York City, check out the highly recommended Twenty Three Layers. They are a full-service planning and designing firm in NYC. They are compromised of only the best. They’ve worked with a number of high-profile clients and come highly recommended.

 

Twenty Three Layers is known for their extravagant planning! They take a unique and gorgeous approach to almost any event. They do event planning for weddings, parties, corporate events, galas, and much more. When it comes to event planning companies in NYC, there is no comparison. The team at Twenty Three Layers doesn’t care how big or complex the event is, they will truly do a great job through and through.