George Soros’ Opinion on Ukraine Deserving Debt Relief

Ukraine is struggling to negotiate with its creditors to strike a deal, to fulfill IMF’s demands before getting further financial support says George Soros. The Russian aggression has seen Ukraine’s economy suffer a great deal making its current foreign debt ($19 billion) unsustainable. Talks are currently undergoing in San Francisco. Unfortunately, Ukraine has no recourse to bankruptcy as there is no chapter 11 provision for sovereign borrowers. Like George Soros, there is no provision seeking to institute a negotiating period between borrowers and creditors to look at the debts that should be reorganized or mediate negotiations between them. Ukraine and the private lenders can only negotiate on a setting where “might makes right”.

Ukraine’s Negotiating Leverage
In this setting, Ukraine has one option as leverage during the negotiations; threaten to default if it does not get debt relief. However, it is expected that if it chooses this route then bondholders will warn the country that no investors will invest in the country in the long term according to George Soros Ukraine. Sovereign defaults are very costly but, they harbor lasting effects if the lenders decide to drag out the battle like in Latin America (1980’s) or Greece today. If a country and its lenders reach an agreement fast, it will only take a year or two to get back on track. It is not the default that keeps the country outside the markets rather the prevailing economic problems that were at fault for the default first. Source: http://www.nybooks.com/articles/2015/02/05/new-policy-rescue-ukraine/

Brady Plan in 1989
Nicholas Brady, a former U.S. treasury secretary, understood this issue and unveiled a plan to deal with it. It pushed for banks to consider debt relief for at least the countries in Latin America looking for sensible reforms. Brady understood that the savvy investors like George Soros would consider the future as opposed to the past when deciding whether to lend to a country that has defaulted. Brady is presently the chairman at Derby Overseas Investments, Franklin Templeton’s private equity firm. Franklin Templeton is the largest bondholder in Ukraine and is against debt relief. Reconciling the position of Mr. Brady in 1989 to that of today is proving hard.

Ukraine Government’s Efforts
Ukraine government is fighting in a heroic way for the reforms that Brady advocated for back in 1989. These include corruption eradication, judicial system reforms, wean the country from Russian gas, boost agriculture, integrate economy into the EU, clean the banking system etc says George Soros. If debt relief can boost these reforms, investors ought to demand for it like IMF and ignore the perception that it will spell doom. If Ukraine chooses to default as the only means of getting relief then investors ought to applaud rather than condemn Ukraine for choosing it.

Revival of a Sovereign-Debt Restructuring Mechanism
Recently there have been efforts by academics and policy makers to renew a restructuring mechanism of sovereign debts along chapter 11 lines. It’s unlucky for Ukraine and others there are arguments that view default as ruining their reputation, it is against the US bankruptcy code. Chapter 11 views forcing a company (heavily indebted) to pay its debts in full as bad for business making debt relief better. The lenders should state they oppose debt relief openly rather than state that it is not good together with the default option.

Read the profiles of George Soros and Ukraine on Forbes

Dick DeVos Brings In A Solid Business Executive For The Stow Company

Dick DeVos has spent years running businesses, most notably during his time at Amway Corporation and now as CEO of The Windquest Group. But he’s also done quite a job finding professionals to run his subsidiary businesses which are part of The Windquest Group’s holdings, including home storage manufacturer The Stow Company.

DeVos recently hired Phil Dolci as the new CEO there to replace the retiring Frank Newman. Dolci has a great track record of running retail companies, including Kraft and Dean Foods, Sanford L.P., and most recently Crosman Corporation. DeVos has highly commended Dolci’s resume and is hopeful about the future of The Stow Company.

Dick DeVos spent many years at Amway Corporation, the company his father Richard DeVos Sr. co-founded with Jay Van Andel. This company is a prominent multilevel marketing company, which means they sell products directly to customers who can then become independent business owners and resell them to their own customers.

Dick got his bachelor’s degree at Northwood University, later going back to finish his master’s and doctorates, and he served as company vice president and later CEO during the 30 years at Amway. As CEO, he helped establish a parent company, Alticor and also grew the company overseas into 50 new countries. The company made billions in sales under Dick’s leadership. Learn more about Dick Devos: http://www.philanthropyroundtable.org/topic/excellence_in_philanthropy/interview_with_betsy_devos

Dick and his wife Betsy not only run The Windquest Group, they’ve started up a family foundation and been involved in philanthropic endeavors for over 20 years. Their primary efforts have been to change the education landscape in Michigan, and have done so through starting up scholarship funds such as Children First America and the Education Freedom Fund. Read more: Dick DeVos – President @ Windquest Group | CrunchBase

At one time they tried to get legislation for private school state vouchers passed, but came up just short. They have openly supported charter schools and even started one in 2010 called the West Michigan Aviation Academy.

The DeVos’s have a long history with the Michigan Republican Party, including Betsy DeVos’s time as chair of the party. Dick won election to the Michigan State Board of Education in 1990, and later ran for governor in 2006 but lost to incumbent Jennifer Granholm.

He did help pass right-to-work state legislation in 2012, and has donated to non-profit groups including Heritage Foundation and Action Institute. Dick is also a recipient of the Spectrum Health Foundation’s Art of Giving Award, and Betsy was recently tapped to serve as Secretary of Education in the upcoming Trump Administration.

Who Benefits From Gooee Smart Lighting Products?

Gooee smart lighting are fine options for businesses, and they often change completely to Gooee smart lights as the lights are more efficient. This article explains how a new smart lighting system from Gooee reduces costs for any business.

 

#1: The Lights Are Never On For No Reason

 

Lights are often left going for hours at a time in buildings around the world because no one is watching them, and they are not turned off when no one notices. The business cannot afford to pay for the lights to run constantly, and they will see the lights shut off when workers leave the room.

 

#2: Lights Are Fed By The Control Panel

 

Lights in the building are fed information by the control panel, and the manager of a building may set the lights to systematically turn on and off at certain times. The employees in the building learn when the lights turn on and off, and the owners of the building may shut off the lights completely when business is closed.

 

#3: Managing Usage

 

The control panel for a large LED lighting system from Gooee records usage of energy in the building, and owners of the building may check usage at any time. It is quite simple to manage power usage with the systems from Gooee, and everyone who wishes to calculate the exact cost of the energy may do so at any time.

 

The buildings built with Gooee smart lighting systems are quite powerful, cost-effective and easy to work in.

Lime Crime for Your Everyday Needs

 

There are many different makeup options that you may have looked at. You might be wondering what Lime Crime can do for you. The good news is that they have great makeup for your everyday and after hours needs.

What is Lime Crime?

 

Lime Crime is a makeup line made just for creative people. It consists of not just makeup that will work for an everyday need, but also for after hours options as well. The makeup has great colors that make a night out really great. The line was created by a woman that wanted to have other options that not many makeup companies have on the market.

 

Picking Colors

 

There are a lot of colors that you can choose from in order to have the best ones for your needs. You can choose and probably will need to choose more than one color to accent each other. You can pick a blue that is lighter and one that is darker so they work well together or you can even wear them apart if you want to. This will give you more options when you want to find something to wear.

Sparkles and Fun

 

There are a lot of different colors, but not just that. They also carry sparkle colored options to make your makeup more fun to do. You can find a few different colors that will go together or that will be find on their own. It’s really up to what you want and what you will be wearing it for, but sparkles can help you to feel more fun when you go out.

 

There are a lot of options when it comes to makeup, but once you try Lime Crime on Urban Outfitters, you probably will not want to have anything else. You should give it a try and see what you think so you can have the colors and styles you want for your best needs.  See more pictures from real LimeCrime aficionados on Facebook, or you can also buy them for yourself on Amazon.

A Brief Recap Of Entrepreneur Tech Genius Billy McFarland’s Life

Born in New York City in 1991, Billy McFarland, is a born serial technopreneur who started his first company at 13 years old by outsourcing services that matched designers and clients, making money on the side. Dujour says that having founded his first 3 companies before he could even graduate high school, Billy McFarland has surely raised the bar for young prospective entrepreneurs.

While still a freshman in college, Billy started an online ad-tech platform known as Spling that allows clients to drive more traffic to their sites thereby becoming one of the youngest entrepreneurs to obtain endorsement from some very reputable venture capitalists. Billy has been Spling since he founded it. His major clients at Spling include Warner, Universal, Discovery and the Hearst Corporation.

Magnises

Magnises, Billy McFarland’s most recent project was established in 2013. It is an exclusive social clubs with deals, special events and other benefits only accessible to card holders. The Magnises card is a black metallic card, slightly heavier than you would expect, linked to the holder’s bank account via a magnetic strip for payment purposes.

The card functions as any other debit or credit card vis-à-vis purchases and making payments. The catch, however, is the myriad of benefits that accompany owning a Magnises card. You can get into concerts, clubs, bars, and other events you would normally be allowed to step foot into just by flashing your Magnises card.

The Magnises App

There is a linked mobile phone app that helps get instant access to offered deals and choose activities you are interested in. To carry the card, members only have to pay $250 on annual basis and enjoy all the benefits. The Magnises social club has about 6000 members to date. Parties who have signed contracts with Magnises include clubs Goldbar and Finale, Restaurants Catch and La Esquina, Cyc Spin studio and Blade Tours, all in New York City.

What Next?

Billy McFarland and his staff generate enough revenue from clients membership fees so the company doesn’t need to raise any more funding (about $3 million). McFarland is planning to expand Magnises to other American cities soon, their next destination is Washington DC.