When the Fortress Investment Group acquired American General Financial services for 125 million in 2010 it fell on Randal Nardone to restructure it as at the time it was considered a distressed asset. He took on the role renaming it to Springleaf financial, and today the company has more than 14 billion under management. Randal Nardone still oversees its operations as he continues with his other roles at Fortress.
Randal Nardone graduated from the University of Connecticut with a bachelor of Arts in English and Biology he would choose to advance his education soon after joining the Boston University School of Law where he got his J.D. After completing his J.D he worked for Thatcher Proffitt & Wood where he soon rose to become a partner. He would later become a managing director and partner at UBS before leaving to join hands with Wesley R. Edens and Rob Kauffman, who retired some years ago. They all had solid financial backgrounds and as such knew that the idea of a private equity firm was bound to work. They managed to bring together about 400 million assets under management. At this time the focus was on growth and using the Fortress Investment Fund (I), they were able to grow the same to about 3.9 billion in the first five years. This ensured that the group had assets that were sustainable in the long term.
The growth of Fortress has been steady since then, and by 2007 when the group became the first large private equity firm to list on the New York Stock Exchange, it had assets worth more than 37 billion under management. The listing was successful, and within the first one year, they had managed to sell about eight percent worth of shares to the public. The price of the stock would rise steadily and at the time would turn Randal Nardone and his partners into paper billionaires.
In 2017 Softbank in its quest for expansion in the American market made an offer to acquire Fortress. Randal and his partners presented the same to shareholders who approved the 3.3 billion deal soon after. The purchase meant that Fortress was returning to private hands and has continued to grow as today it has 43 billion dollars under management.
To learn more:https://www.fortress.com/about
Usually if you hear about receiving a check each month that you don’t have to pay any income tax on, you think of a government benefits check such as social security, disability or unemployment compensation. But there are other checks you can receive that are not government checks and don’t have all the eligibility requirements that government checks have, and you can receive them in either monthly or quarterly payments. These are freedom checks, a kind of payment associated with investments that were discovered by an editor at Banyan Hill, a financial newsletter and advisory publication company. What he discovered about these investments was that practically anyone could get them and they could turn just $1,000 into gains to sometimes as high as $400,000 at the height of their maturity.
Freedom checks are much like regular stocks that you can find on most major listings, but there are a few aspects they have that make them different from other investments. First, they are treated as return on capital from master limited partnership companies which are companies that are registered a little different than most other corporations and that deal in natural resources. Second, the dividends paid in freedom checks are 90% of company income, but since they are classified as return on capital, they are granted tax exemption according to a law known as Statute 26-F which was passed in 1987 as part of a movement to bring an end to foreign oil dependence.
So just how much are these MLPs who’ve increased fracking and domestic oil production going to pay put? According to Matt Badiali, a natural resources expert and investor, freedom checks are looking at a whopping $34 billion to pay their investors over this next year. Even though oil prices may be increasing, foreign oil barrel imports are around the lowest they’ve been in quite some time, and with fracking having a boom, receiving monthly or quarterly freedom checks are not something you want to miss. To find out more about these checks and what Badiali has to say about them, go to www.BanyanHill.com.
For details: affiliatedork.com/34-6-billion-freedom-checks
Michael Burwell is a financial advisor who was recently named the Chief Financial Officer at Willis Towers Watson, a global advisory, broking and solutions firm. Prior to joining Willis Towers Watson, Burwell served in a number of leadership roles, which include, Head of Global Transformation, Chief Operating Officer and Chief Financial Officer. Michael Burwell also has a decade of experience in auditing and transaction services. Michael Burwell graduated from the University of Michigan with a bachelor’s degree, he also is a trained CPA.
The Chief Executive Officer of Willis Towers Watson, John Haley, is thrilled to have Michael Burwell join their leadership team. Burwell has a firm understanding in management, global companies, leading and driving to get results, transformations, and transactions, which are sure help the company evolve and continue to thrive. Michael Burwell is equally thrilled at the opportunity to join the Willis Towers Watson. He has long admired the company’s leadership and culture and is excited to be part of their team.
The responsibility Michael Burwell holds with his new position requires that he stay productive. One of the biggest ways he achieves this is by the use of technology. Michael Burwell chooses to use technology to his advantage as it helps him streamline the operations. Additionally, he gets up around 5am every morning and immediately makes his bed. He does this because completing a small task from the get go helps him feel motivated and productive. After that, he gets in some daily exercise. This not only allows him to destress, but it also gives him energy and allows him to reminisce about past goals, plan future goals and even plan the tasks he needs to accomplish that day. Click Here for more information.
Michael Burwell has accomplished a number of things in his career that he is especially proud of. First, he has had four people who he mentored go on to become partners in a firm. The reward of watching these individuals learn, grow, and develop is an experience that cannot be beat. Second, he is proud that, without laying people off, he was able to decrease costs by $500 million; which is quite the accomplishment in the industry. The third accomplishment Burwell is proud of is a deal he negotiated with Google.
Check out related info about Burwell on https://medium.com/@michaelburwell