Monthly Archives: October 2013

Morning Dealmaking

This morning we toured a block of buildings in Manhattan that have been bought and will be torn down. Well, actually it is in Yonkers, but close enough. The new owner bought an entire city block and is in the process of notifying the tenants that their leases are being terminated and they have to move.

We looked at one of the buildings on the southwest corner to get a feel for the neighborhood and the view. The business there makes plastic things for hardware stores – I have no idea what most of it is for, but the guys were interested. The business owner is going to retire after he shuts down the business. He said he was going to stay open as long as he can for the sake of his 40+ employees, but the word is already out and several of them are quitting to go to other jobs, so timing is going to be an issue for him.

When he shuts down, we’ll demolish the whole building, so he mentioned the challenge of getting rid of everything. We’ve seen auctions to do that, but I know of a company that buys equipment and machine shop tools and then they sell it online. I told him about K. D. Capital so he can call them and see if they can help. I’m sure they will.

This will be a good site for our development. Looks like I’ll be spending a lot of time in New York this summer.

Helping teens

On the flight to Orlando I sat next to an interesting gentleman from Arizona, Don Saffer, the headmaster of a private school for teens that are called underachievers. He was so enthusiastic about his school and their program, it was very uplifting to talk with him. The name of the school is “The Fenster School” and they have a website that he suggested I visit.

I had researched alternative education programs when my step sons were teenagers. I even considered a teen boarding school, but my husband (at the time) freaked out on that idea and wanted to keep the boys close under his wing. I still think they would have been better off at a school like The Fenster School, but he never really cared about my thoughts on raising his sons. And seeing how they turned out, I’m glad he can take all the blame.

Anyway, it was nice to meet Mr. Saffer and to see that some kids do get the help they need – I wish him all the best with his school.

A failed and costly prison system

Found a great article via Reuters yesterday that says the U.S. Prison System is a costly and harmful failure and has had very little impact on crime in America. The report says the prison population is projected to grow by another 192,000 people in five years, at a cost of $27.5 billion to build and operate additional prisons. In order to stop this, the report recommends shorter sentences and parole terms, alternative punishments, more help for released inmates and decriminalizing recreational substances.

The report also says the number of people in prison has risen 8 fold since 1970 and at its current rate of locking people up 1 in 3 black males will be locked up in their life time; 1 in 6 Latino males will be locked up; and 1 out of every 13 white males will be locked up.

In my opinion, we need to do all the recommendations of the report and then some because would it not be better to take the same 20 Billion and reinvest it in our communities like education or health care, than just spending it on keeping people locked up in a cell? As always, I am interested in hearing what you think, so please chime in with your thoughts.

My British Landlord

Can’t sleep and the storms are over, so I’m up surfing the net and chatting on IM.

We have good friends and distant relatives in London that sometimes stay up late and play internet games with me. Cabby was feeling brave tonight and played against me, but my team won. 🙂

Cabby was telling me about his new business venture – buying an older home just outside of London and remodeling it into apartments. He’s applied for funding from a company that does all kind of financing, including UK Commercial Mortgages. The company has a website with a process for applying online and they give free quotes and financing advice.

I didn’t realize that being a landlord made you eligible for commercial loans, but it makes sense now. I can’t wait to see the before and after pictures of Cabby’s apartment project! Wonder if moving to London is in my future?