Monthly Archives: March 2016

Devco Guilty of Racking $20 Million in Debt from the CRDA

According to the northjersey.com on January 2016, Devco (or New Brunswick Development Corporation), a nonprofit urban real estate, was found guilty of funneling a $20 million loan from Casino Reinvestment Development Authority (CRDA) to private firms in order to fund large construction projects. Devco had also already been hoarding an additional $7 million in debt over the past five years. Since it was made in 2005, it has funded the construction of The Heldrich and the New Brunswich hotel and conference center. The two are models for the Atlantic City Development Corporation, which is expected to monitor over $200 million in both private and public funding and over $19 million is CRDA money.

Attorney Christopher Paladino, who arranged the loan for The Heldrich has claimed that CRDA will be paid back but that it will probably take another two years. The Heldrich has reportedly struggled to attract guests and its largest account is with Johnson & Johnson, whose executives are members of the New Brunswick Development Corporation’s board of directors. The Heldrich’s budget is so tight that it has had to borrow over $700,000 of its own money just to fund their basic equipment needs, such as bed and dressers.

DEVCO was founded in the 1970’s, mainly to serve as a vehicle to bring about development to improve the economy in both the city of New Brunswick and the State of New Jersey. They serve as a mediator to relationships between public and private partnerships in order to serve in the best real estate interests of the state. Devco claims that this helps them to create top quality redevelopment relationships.

Elkus Manfredi Architects is the architectural company that Devco works with. Elkus is based in Boston and provides and was founded in the late 1980’s. They work closely with their clients to develop the best short- and long-terms goals possible.

 

My Big Move to London

 

The time has finally come for me to pack my belongings and make my way to the beautiful city of London. I have given my all over the past four years to acquire my bachelor degree in accounting, which I must say took up all my time and energy. There were a few moments where I thought I wasn’t going to make it through till the end, but I re-gathered myself and got back on track. The reasoning behind my big move to London from the US is that I am striving to work for a company called Solo Capital. Before making the decision to move, I sent out my resume to the CEO at Solo Capital, Sanjay Shah. I also made it a point to sent out a few more copies to other firms in the London area as a backup plan in case I do not get hired by Solo Capital. I will arrive in London on the first of the month and not even three days after I arrive, I have an interview with Sanjay at the Solo Capital office.

Before I even decided that London would be my place of interest, I did hours upon hours of research on different investment firms in the country. I had heard so much good things about Sanjay himself, as well as Solo Capital, that I decided they would be the first place I applied to. Even if my application doesn’t get accepted at first, I will still keep on top of it until I earn a seat within their firm. I understand their level of security at their firm, so I am also aware that they only hire individuals who have the highest level of credentials. Many people become distraught after being denied a position, but I myself use it as direction on what I need to do to become eligible for such a desired position. By having this state of mind, I normally succeed in whatever I am doing because success right now is my only option in life.

No matter what becomes of my move to London, I am going to take it as a great learning experience. Nobody in the neighborhood I grew up in went anywhere after college, but I chose to move to a whole other country to gain access to new wages, careers and lifestyles. If it doesn’t work out in London, I know that when I come home, I will have deeper knowledge on the way investment firms are run around the world. I could possibly even give advice to firms in the US that could easily benefit their business financially. Every country is so different when it comes to the way firms are run. Being able to have this knowledge is extremely amazingly to me as I love learning facts that others in my field of work haven’t a clue about.

Dog Food Goes Premium

The Daily Herald recently ran an article with an eye-opening view into the expanding pet food industry. Considering that the pet food industry has now grown to $23.7 billion, it is certainly worth talking about. The article tracks how pet owners are now looking for high quality dog food for their furry family members and are willing to shell out the bucks accordingly. This move toward paying real attention to the ingredients and quality of dog food comes right alongside the healthy food movement, which has been gaining traction for at least the past decade. Interestingly, the paleo or “cave man” diet for fitness and nutrition gurus has made its way into the pet food world. There is a recent push for dog foods that mirror what dogs would have eaten in ancestral times, without additives or preservatives.
One of the dog food brands doing very well with the relatively new emphasis on premium product is Beneful. Beneful has been feeding Fido since 2001 and has grown significantly since then. It now occupies a large share of the pet food market and offers eight varieties of dry dog food along with four wet options. Owned by Purinastore, Beneful has burst onto the dog food scene with a reputation for premium ingredients and forward thinking in packaging. In fact, Beneful has been widely recognized and awarded in the pet food industry for its reusable dog food containers, which preserve freshness and allow Beneful to make high quality dog food without harmful preservatives.
Beneful has also experienced wide success with its dog food options that cater to the dietary needs of different dogs. For dog owners who want to be sure they are feeding the right kind of nutrients to their dogs, Beneful packages its products with helpful indicators for the size, weight, and developmental age of the dog intended for each food option. This allows owners to have confidence in making informed decisions for feeding their beloved pets. The range of options offered by Beneful can be a part almost any healthy doggy diet.