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Testimonials

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Sandro Rosell
FC Barcelona President
Sunday, May 28, 2017

Business

At a recent Economic Club of New York luncheon at the New York Stock Exchange, Airbnb CEO Brian Chesky indicated that his company could launch an IPO as soon as next year.

“We are halfway through the two-year process of getting ready to go public,” he said.

Despite an ongoing series of legal hurdles—in New York, for instance, the law generally prohibits the leasing of residential spaces for less than a month—Airbnb is valued at over $30 billion, and continues to grow by leaps and bounds. The company has raised over $3 billion from investors since its inception in 2008, including over $1 billion this month alone. All this as city and state governments across the U.S. continue to pass legislation specifically to curtail their operations, and

Billionaire investor Paul Singer is taking flack from Arconic (a manufacturer of metal parts for airplanes and automobiles) after accusing the company's top leadership of buying votes to secure their own position within the company.

Singer, who back in February called for the removal of Arconic CEO Klaus Kleinfeld, was incensed by the company's announcement this week of an agreement with investment firm Oak Hill Advisors, a quid pro quo where Arconic absolved the firm of certain existing debts

Alice Ruth, Michael Bloomberg’s long-time money manager, has stepped down. For most of the decade she has served as the chief investment officer for Willett Advisors LLC, Bloomberg’s multi -billion dollar family office, which manages his personal and philanthropic investments. As per the WSJ, Mrs. Ruth left what she called her “ultimate career opportunity”, and is contemplating other money-management positions in the vast world of opportunities. 

Late last year Ms. Ruth, a Dartmouth alumnus

Shares of Snap Inc, parent company to Snapchat, surged an impressive 44% on its first day of trading after its IPO. Snap Inc, priced its initial public offering at $17 per share, slightly higher than the expected range of $14 to $16 per share. Trading then began at $24, reached a peak of $26.05, and closed at $24.48. The bulk of the first day’s profits were enjoyed by the large investors who got in early.

Snap offered 200 million Class A shares, which do not include voting rights. The company

According to a report in The Wall Street Journal, the drama around Wall Street firm Lebenthal will soon be concluded. 

The firm’s founders’ granddaughter Alexandra Lebenthal is reportedly ready to close, as early as this month, on a deal to sell the former municipal bond firm. InvestmentNews reports, “Lebenthal Holdings currently consists of a capital-markets unit that underwrites corporate bonds and an asset management unit. It sold the municipal bond business in 2014. While Ms. Lebenthal