End Citizens United is a political action committee that was formed in 2015 following the Supreme Court decision on Citizens United vs. FEC in 2010. The case ruled that corporations are people, allowing them to spend unlimited amounts of money supporting election campaigns. Special interest groups and the wealthy are therefore given a chance to exercise undue influence on the electoral process. End Citizens United opposes these wealthy people by supporting campaign candidates who support pro-reforms in elections. Candidates who accept donations from the wealthy have an unfair advantage. These candidates end up serving the interests of the wealthy instead of the electorate once elected. End Citizens United accepts donations from the grassroots with an average of $14.
The donations collected are used to endorse candidates who support elections pro-reforms by encouraging campaigns to be carried out by monies that are limited, and that can be traced. Candidates who are supported by End Citizens United have many advantages such as being connected to the grassroots members of the political action committee in their states and districts. They are also connected to a national network of over 400,000 small donors that support their campaigns. Recently, End Citizens United accused Florida governor Rick Scott of illegally using New Republican Political Action Committee (PAC) to support his senate campaign. They filed the complaint with Federal Electoral Commission.
They claimed that Rick Scott is using the super PAC to evade federal limits of direct contributions towards candidates’ campaigns. A super PAC can raise as much money as it wishes and spends it but it is not allowed to work directly with any candidate in election campaigns. Rick Scott was the chairman of the New Republican PAC at the time he announced that he would vie for the Senate seat. Evidence arraigned against Rick Scott shows that both he and the New Republican PAC are using the same fundraiser, Jenny Rucker. Rick Scott campaign and the New Republican are also using the same address. It was also noted that a recent poll paid by New Republican was for Rick Scott. To add to this evidence, it was reported in March that the New Republican was campaigning for Rick Scott.
As a self made man, Randal Alan Nardone at some point reigned number 557 on the list of Forbes Billionaires (at $1.8 Billion Dollars). Having an educational background from The University of Connecticut (Bachelors Degree) and The Boston School Of Law (Juris Doctor) Randal Nardone started out working with Thatcher Proffitt & Wood and went on to climbed his ladder of success through BlackRock Financial and UBS until he began his entrepreneurial journey. Cofounding the famous Fortress Investment Group in 1998 with Wesley Edens and Peter Breiger Jr. Acting as President, cofounder, and Principle, Randal Nardone was finally admitted to the board of Directors in November 2006.
Aside from his roles in Fortress Investment Groups Randal currently holds 4 Board and Advisory positions; at Gagfah (Director), Springleaf Holdings (Director), Brookdale Senior Living (Director), and New Residential Investment Group (Executive Management). Randal Nardone graced the pages of the Forbes in the year 2007 as a result of Fortress Investment Groups IPO on the NYSE (New York Stock Exchange). With possessions on 53 million shares (at the time worth something around 1.7 Billion Dollars) and earning around $100 million dollars in other compensations his net worth was established. That was short lived because as his return to Fortress Investment Group and CEO in late 2011 that title was no more.
With Randal Nardone at the reigns of the firm, its AUM (assets under management) had grown from around $43 Billion to recorded on June 30, 2016 $70 Billion. His efforts did not go unnoticed, in 2014 his guidance gained Fortress the accolade of “Hedge Fund Manager of the Year” from Institutional Investor and well as “Management Firm of The Year” from HFMweek.In more recent developments, the highly revered Japanese investment giant SoftBank has made an acquisition of Fortress Investment Group in December of 2017 for $3.3 Billion Dollars. Randal Nardone has truly experienced much in his 61 years, being affiliated with a whopping 26 entities according to bloomberg.
Fortress Investment Group was co-founded by Wes Edens in 1998. Wes is among five other principal partners for the investment firm. With assets that include private equity, publicly traded alternative investments, hedge funds, and real estate investments, Fortress Investment Group was recognized by Nomura Holdings, a Japanese financial holding company, and 15 percent of the firm was acquired for $888 million. In 2007, the firm became the first to ever receive a publicly traded buyout, which resulted in an eight percent share value to the public, grossing $600 million within two years after the buyout. That same year, Wes became the Co-Chairman for the Board of Directors. Wes Edens has a B.S. degree in Finance and Business Administration, which he received from Oregon State University in 1984. Within three years, Wes was selected to work for Lehman Brothers and later became managing director in 1993. His experience later led him to BlackRock Asset Investors, where he was appointed partner, as well as managing director, for the firm’s private equity division. Wes’s tenure with BlackRock Asset Investors continued until 1997.
According to BizJournals in 2016, the total compensation for Wes Edens was estimated at $54.4 million annually. Mandated reporting to the U.S. Securities and Exchange Commission shows the total compensation includes a $200,000 salary, $1.1 million in awarded stock, $11.6 million in bonuses, and $478,473 in non-salaried compensation. Earlier this year, Wes Edens announced that Fortress Investment Group closed a deal with Japan’s Softbank Group Corporation for $3.3 billion. Wes, along with his original founding partners will continue their leadership roles within the firm, based on a five-year contract. Fortress Investment Group will continue its financial operations and role as an independent firm within SoftBank.
At the time the deal was closed, Fortress Investment Group was trading at $7.85 per share. It’s not all about successful business dealings that keeps Wes committed to the financial success of the firm. Through all the business ventures and deals over the years, Wes has remained the type of leader that treats his employees with value and respect. He often compares the employees of the firm as “assets.” Its important for Wes to maintain a level of openness with employees in order to know what they value the most. As a leader, Wes Edens makes sure that employees receive the best competitive pay, along with essential benefits in order for them to thrive within their respective careers.
Peter Briger is one of the principals of the Fortress Investment Group. He replaced Rob Kauffman after he left the company. The San Francisco-born entrepreneur is known for his unique approach in helping the company succeed, and he is also credited for developing unique strategies benefiting the company as a whole. Growing up in California, Peter Briger went to the Princeton University taking up a bachelor’s degree, and he took up an MBA at the University Of Pennsylvania- Wharton School Of Business to increase his knowledge in doing business. When he finished his studies, he tried looking for a company that specializes in business and finance, making it his first step to success. He spent two decades working with several businesses that specialize in business and finance, and the skill and experiences he got from these companies made him knowledgeable enough to become one of the next big things in the industry.
When he joined the Fortress Investment Group, he took up the role of being the board of directors’ co-chairman and the principal. He used his knowledge to help the company reach new heights, and he stated that by joining the Fortress Investment Group, he managed to share his knowledge on how to run the company. His leadership transformed the Fortress Investment Group into one of the largest private equity companies in the United States, and his expertise in the industry helped the Fortress Investment Group to grow its assets to more than $65 billion. Peter Briger has a vital role within the company, and he assured their clients that he would continue working hard for them to receive more profit.
Peter Briger recalled that back in the year 2002, he was proposing a lot of projects for the benefit of the company. He showed his colleagues that the projects he proposed would help the Fortress Investment Group go forward. By persuading his colleagues about the projects, they soon gave their permission to let his ideas go through, and he used it to offer the company as a public stock. He is also one of the proponents of introducing the company at the New York Stock exchange, and through his efforts, more than 8% of the company was traded to the public. Peter Briger considered the debut of the Fortress Investment Group to the stock market as a personal goal that came true. Today, he is working with his colleagues to think about ideas that would make the company stronger.
Fortress Investment Group has made a name for itself for being among the top investment firms in the United States. They boast of over 1,500 private clients and institutional investors worldwide and managing and have over $70 billion in assets under their investment management.Among those on the forefront and steering wheel of this company is Randal Nardone, Its Chief Executive Officer. The Boston School of Law alumnus is one of the firm’s founders alongside Wes Edens and Rob Kauffman.Randal Nardone also holds a Bachelor of Arts degree in English and Biology. He was named interim CEO in 2011 and entirely took the seat in 2013. Being on the management team from the founding date in 1998, Randal Nardone was later elected to the board of directors in November 2006. Currently, he also holds the position of principal alongside the likes of Wes Edens.
Randal has led Fortress to some achievements like the sale of their outstanding shares to Soft Bank Group, a Japanese owned organization.This resulted in a total of $3.3 billion with Class A shares going at $8.08 from the original $5.83 and the executives sharing $1.39 billion according to each one’s investment. Randal Nardone said that this offered an opportunity for further growth of the firm and it would open up new credit sources. Randal has an excellent track record in leadership positions previously serving at the Union Bank of Switzerland as the Managing director. Before this, he was at Blackrock Investment Management where he was a principal. He had previously put his law degree to active use when he was at Thacher Proffitt & Wood law firm.
Here, he was not only a partner but also served on the executive committee. Randal’s hard work has earned him a self-made status along with a rank in the Forbes billionaire list. He was number 557 with a net worth of $1.8billion. Soft Bank upon the purchase of Fortress, decided to leave the business model and the leadership intact, crediting them for getting Fortress to its current position. The employees also credit the administration for creating a conducive environment for them to learn and work on top of challenging themselves professionally. Randal moreover dedicates his leadership talent and advisory skills to various boards. He is the president and chairman of SpringLeaf Financial Holdings. He is also the vice president and secretary of Newcastle LLC, and President of NSC1 LLC.
Wes Edens has made a name for himself by helping pioneer a Fortress in the financial investments, by co-founding Fortress Investment Group, among many other things. This was in 1998, alongside other co-founders: Randall Nardone and Rob Kauffman. Currently, he is one of the Principals adding Mike Edward and Peter Briger to the list. Wes and his partners broke into the billionaire list in 2007 after selling a 15% share to Namura Holdings, a Japanese financial holding organization.He currently sits at position 297, among America’s wealthiest people, according to Forbes 2007. This was in 2006. The team also reached another historic hallmark with Fortress. This was after turning the company from private ownership to a publicly held company, on February 9, 2007. It became the first buyout firm to be publicly traded.He is currently a Principal and co-chairman in the organization. This was reached after going through various positions in the firm.
Between 1998 and 2003, he had served as Fortress’ CEO. He later became a co-chairman in 2008 after subprime mortgages took a downturn. He helped the organization to get back on track. This was after the company started offering subprime lending.The private equity investor has led the organization to impact actions like the $3.3 billion sales to Soft Bank Group, another Japanese owned organization. Wes Edens gained experience after graduating from Oregon State University in 1984, with a Bachelors of Science in Finance and Business Administration.His career kicked off at Lehman Brothers in 1987, and here he became a partner and Managing Director until 1993. He went on to join BlackRock Asset Investors until 1997 as the partner and Managing Director.The businessman is also known for co-owning the Milwaukee Bucks alongside Marc Lasry. They purchased from Herb Kohl in 2014 at $550 million and a promise to build a new arena and keep the team in Wisconsin.
In the gaming field, he helped launch FlyQuest with Fortress. This will gather various organizations and incorporate them in esports games to compete in a variety of global competitions.Wes Edens also sits on various boards: Chairman, Nationstar Mortgage Holdings; Board Chairman, New Senior Investment Group; Board Member, Springleaf Holdings. His leadership is evident even from reviews of the employee reviews and the fact that new owners, Soft Bank Group saw it fit to leave the administration intact upon the buying transaction. The employees feel a real challenge in the organization which creates a conducive learning environment. The Wall Street Journal described his style of investment as creative financing and a knack for creating businesses from investments.This can be attributed to his current take-home pay of $54.
Fortress Investment Group is a globally known corporation. The company has been involved in many transactions, since its’ inception, that has brought it into the spotlight. The latest dealing the company is working on is no exception to this pattern.Recently, Fortress Investment Group was highlighted in a post about the company entering into the lending sector of the finance industry. This expansion into the lending sector will be done under the SoftBank Group Corporation name. The post also discussed the recent promotions of two key employees and the departure of another one. The post can be found on the Bloomberg website for more information.
An Investment management firm, Fortress Investment Group specializes in hedge funds and a variety of other investment tools for businesses and individual investors. The company was founded in 1998 By Wesley R. Edens and Randal A. Nardone. The company’s headquarters is located in New York, New York. The company also has additional offices located throughout the world.The company has a power house of a team for leaders. The co-founders are very active in the day to day activities of the company. Mr. Nardone also serves as a Principal and Director for the company. Adam Levinson is the Chief Executive Officer.
Peter L. Briger Jr. is another Principal of the company. His is also co-chairman for the Board of Directors. The managing partners for the company include Matthias Moser, Andrew Berman, and Dana Latendre. Josh Pack and Drew McKnight were also recently promoted to the positions of managing partners too.The company, Fortress Investment Group, is very well established and have over 1700 active clients on their rosters. These clients have over forty billion dollars of funds invested in the various funds managed by the corporation. These customers are served by the hundreds of professional and experienced employees that are located at the various offices.
The success of Wes Edens is a story of determination and hard work in enabling his dreams to come true. A businessman, a private equity manager and a co-founder of Fortress Investment Group is just a glimpse of his successful life. His career journey began in 1984 after graduating from Oregon State University with a bachelor degree in Business Administration and Finance. After completing his degree, he started working in Lehman Brothers in 1987. By 1993, he was already the company’s managing director and a partner. He later moved to BlackRock Asset Investors in the private equity division sector where he became the managing director and a partner. He maintained his position in BlackRock until 1997. It was not until 1998 when Wes Edens decided to collaborate with five other people to establish Fortress Investment Group. His experience in the financial world helped him work with his partners to make the Fortress Investment Group a great investment consultant for people seeking investment advice.
By 2007, Wes Edens and the rest of his partners were able to take the company public making it the first company to officially have a public buyout. He also helped in creating an atmosphere where his employees are happy working in Fortress Investment Group.Apart from being a principal founder of Fortress, he is also a co-owner of his own team known as the Milwaukee Bucks. He purchased the team in 2004 and has taken necessary strides to ensure the team maintains a lead in the sporting world. In 2017, Wes Edens launched an eSports brand known as FlyQuest. FlyQuest is a professional team that has a similar comparison to League of Legends.
This eSport acquisition is the first for the team. It is also the first stride for the team and Wes Edens to venture in the eSports world.However, apart from eSports acquisitions Wes Edens also take a home pay of up to $54.4 million every year. The take-home pay places him on the list of high earning executives in the private equity sector. He is also a self-made billionaire who has made appearances in the Forbes Billionaire list a couple of times. His commitment to ensuring that Fortress Investment Group remains a reputable company with an impressive portfolio pays off with the number of clients they assist with their investment issues. Wes Edens is not only a focused businessman but a committed leader to the success of his organizations.
Equities First Holdings has recently gone into business with an Australian energy company to try and find better alternatives for how people use energy all over the world.What this means is that the 2 companies are working together in India from a location that they have recently acquired to do testing in the hopes that they can come up with a solution to create energy that will reduce the environmental footprint of people using energy all over the world.
Equities First Holdings cares about the future of our planet and along with Environmental Clean Technologies Limited they are working very hard together to make sure that we will have a long future extending the life of our children and their children for a better tomorrow.The 2 companies working together also helps to make this project an even more productive one by combining each one’s resources to be able to better handle their workflow on this project. Learn More.
American investment guru has thrown in his opinion regarding the Apple stock in 2018. He has bad news for any person who is thinking of investing in the company from this year. Paul Mampilly term Apple as a company that is behind its glory days. Apple right now is no longer the company it was in the past. There has been a lackluster performance from the company due to lack of innovation. When a company fails to bring a new product to the market, it is definitely going to reach a point where the customers will get tired of buying the same product over and over again.The behavior of recycling the same product over and over again is what Apple has been doing for the last seven years. A company that was known for bringing unique innovations to the market is now going for almost a decade with no new product. It is a tragedy for this business.
Sooner rather than later, the company will face problems when customers stop buying their product as a result of monotony. In the spirit of diversification, Apple is supposed to introduce something new that will shore up the stock prices. The continued marketing of its existing products cannot work forever. Soon there will be no improvements worth the increased marketing budget. Just last year, the company was performing badly until Warren Buffet bought shares worth $20 billion for its marketing budget. This is the only reason why the market moved up in the last one year.
Paul Mampilly says that with the competition which is coming from Amazon and Google, the market is going to face some problems in the future. These two companies are putting up competition that Apple cannot match up to if nothing is done. The company needs to work on introducing a new product in the market, or the prices of its stock will fall hard. Since 2011 the company has only been recycling their iPhone product from one version to another with the only difference being a few specifications. Users of the iPhone have started complaining that there is no need to upgrade their phones to the latest releases since the profits are almost the same.
About Paul Mampilly
Paul Mampilly is a great investor who has high ability to read the market and determine the likely behavior. He has predicted stock markets before, and most of his prediction come to pass.Paul is the owner of the “Profits Unlimited” newsletter.