Posted by Leonard Steinberg on August 21st, 2014 I sit on the Board of my building, and sometimes (very seldom) a building can come into a windfall of money, a surprise revenue source that boosts its reserves unexpectedly and outside all budgetary expectations. New York State is experiencing this exact phenomena right now: It will realize a… [Read More]
WALL STREET RESCUES THE HOUSING MARKET CRASH WITH PRIVATE STIMULUS?
Posted by Leonard Steinberg on June 4th, 2013 Did large Wall Street firms save the crashed housing markets in the USA with PRIVATE STIMULUS? Some would say yes. Large investment firms have spent billions of dollars throughout 2012 buying homes in some of the nation’s most depressed markets. The influx has been so great, and… [Read More]
THE GOLDMAN SACHS MESSAGE
Posted by Leonard Steinberg on March 15th, 2012 Yesterday’s New York Times OP-ED by departing Goldman Sachs executive Greg Smith seemed to cause a bit of a storm throughout the Wall Street banking community: could it be true that one of the worlds most successful financial institutions puts itself before its clients? This question is… [Read More]
LUXURY TREND? WALL STREETERS BECOMING ENTREPRENEURS?
Posted by Leonard Steinberg on December 21st, 2011 Has anyone noticed how many ex Wall Streeters are turning to the markets to create new ventures and businesses? I have heard some who have lost jobs hopeless about their chances of re-creating their past positions or income and others who were just tired of the rat-race…. [Read More]
WALL STREET UN-OCCUPIED: IS 2011 THE YEAR OF EXTREMISM?
Posted by Leonard Steinberg on November 22nd, 2011 The news is out: Wall Street is shrinking with more than 200,000 jobs lost in the global financial-services industry this year, eclipsing 174,000 in 2009, according to a report by Max Abelson of Bloomberg. (That’s a lot of potential real estate buyers and renters). Wall Street rebounded from… [Read More]
OCCUPY WALL STREET? IT'S ALL ABOUT THE WRONG LOCATION!
Posted by Leonard Steinberg on October 15th, 2011 As OCCUPY WALL STREET continues, I feel its connection to the real estate world and how location is everything. Do these demonstrators know nothing about how one block can make all the difference in New York? Firstly, the title is about as accurate as WOODSTOCK, the era-defining… [Read More]
IS THE ANSWER TO U.S. UNEMPLOYMENT IN THE NAME STEVE JOBS?
Posted by Leonard Steinberg on October 6, 2011 With Steve Job’s passing, certainly one of the greatest losses of 2011, it may be a good time to look at his company as a case study for the future of other companies in the USA. I write this on a MAC, own an I-pad, I-pod and… [Read More]
700 PROTESTERS ARRESTED ON NEW YORK’S BROOKLYN BRIDGE – OLD FASHIONED?
Posted by Leonard Steinberg on October 2nd, 2011 Yesterday while most of Wall Street was away enjoying the first weekend of Fall 2011 in the Hampton’s, 700 Protesters were arrested for blocking the Brooklyn Bridge, protesting all sorts of things especially Wall Street GREED. Isn’t this a bit old-fashioned in the age of Twitter-heads and Facebookers? I… [Read More]
UBS MOVING BACK TO NEW YORK?
UBS moving back to New York?
IT MAY BE A VERRRRRY LONG HALLOWEEN….
With almost certainty we will see a major political shift after next week’s elections. The presidency will be stuck in a potential gridlock where the only window of opportunity is 2011 says Nouriel Roubini in to-day’s Financial Times. The president deserves credit for setting up a bipartisan debt commission, which is most likely to propose a… [Read More]