Full Name* Share via Shortlink Full Name* Contact Cordilia James Email Address* Compass’ IPO is not just about agents scoring windfalls and the company raising capital. It’s also the marketing opportunity of a lifetime — and Compass maximized the moment.To promote its first day of trading, the brokerage custom-built a digital platform for agents to follow media coverage, rented huge billboards outside the New York Stock Exchange and in Times Square, and crafted tongue-in-cheek social-media posts for agents to share.“They do everything,” said Harding, who used the platform to watch founders Robert Reffkin and Ori Allon ring the opening bell. “It was a production in real time.”McDonough Domi was one of about 100 Compass agents and employees who gathered in Times Square on Thursday afternoon to celebrate the IPO.“You’re trying to recognize people through masks that you haven’t seen in a year,” she recalled. “It was a lot of hugging, a lot of high-fiving, a lot of cheering.”While Compass’ agents were rejoicing, some clients took notice too.“Big day for Compass!!!” was among the messages Harding got from clients, in this case from an investment banker at Goldman Sachs, the firm that led the IPO’s underwriting (which cost Compass $22.5 million). McDonough Domi, who’s married to former New York Rangers hockey player Tie Domi, heard from major athletes including NFL quarterback Tom Brady on social media.“It’s a form of advertising,” said Fabrikant, who also had clients sending kudos. “It’s allowing our network to see Compass again and again.”Despite the hoopla, Fabrikant said, Compass’ messaging to agents has not changed. He pointed to an email CEO Reffkin sent Wednesday, hours before the company began trading.“Robert said in his email this isn’t just that we made it,” said Fabrikant. “This is going to give us the funds to keep growing into what we really want to do. It’s impressive for me because these are the moments where people just start thinking about the next chapter in their lives.”Contact Erin Hudson Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Email Address* compassIPOResidential BrokeragesResidential Real Estate Compass CEO Robert Reffkin and agent Ronita Kalra (Photos via Twitter, iStock)For Compass agents invested in the firm’s success, nothing can rain on their parade.Last week, Compass’s initial public offering raised $450 million. Though the company had at one time hoped to raise more than twice as much, Compass founders and top executives now have stock holdings worth millions on paper. But many of the rank and file also have skin in the game.The effect, particularly for agents who’ve been at the firm five or six years, is one of shock and elation.Broker Brian Lewis described getting a rush of excitement every time he looked at his Compass investments. Heather McDonough Domi, a Compass broker since 2019, said she knew of one veteran Compass agent who invested heavily for whom the IPO was “life changing.”ADVERTISEMENT“This created an opportunity for real estate agents to actually build wealth and that is not something that is common for our industry,” said McDonough Domi.Compass has been dangling equity for agents as part of their compensation since its founding in 2012, but later allowed agents to swap commission dollars for stock options or restricted stock.In 2018 and 2019 agents invested more than $70 million through the program. (Compass declined to disclose 2020 figures.)Compass’ 19,000 agents also had the opportunity to buy stock at the initial offering price of $18 per share through a directed share program prior to the IPO. Compass set aside 7 percent of the offering, or 1.75 million shares, for agents.The opportunity to take part in an IPO was a huge factor in Lewis’s decision to join Compass. But Ronita Kalra, who signed on late last year, said she viewed the looming IPO as a “bonus” and not a given.“It’s kind of a moment in history and it’s exciting to belong to the company that it’s happening to,” she said. Kalra bought shares through the pre-IPO directed share program.Arthur-David Porosoff, a Florida-based commercial broker at Compass, was also eager to take advantage of the opportunity.“I think you’d be crazy to have been offered a position and not have bought into it,” Porosoff said. “I wish I could’ve bought more.”How the investments will fare for agents in the long run is an open question. The stock began trading at $21.25 Thursday. But on Monday it fell 7.3 percent to $18.59.Agents who have departed Compass and elected not to exercise stock options upon exiting expressed no regrets. At least one viewed the initial offering price of $18 — slashed from the $23 to $26 target the company initially aimed for — as having little upside.Unsurprisingly, current agents strongly disagree. Most said they had no intention of cashing out their shares in the coming months and believe the price has nowhere to go but up.Vickey Barron, who said she took advantage of “100 percent” of all programs offered to agents, intends to hold her position. She bought Apple stock in 1995 and Amazon stock in the early 2000s, and still hasn’t sold them. She sees Compass in the same league.“I truly think this is just the beginning because we’ve got the right vision and the right people behind that vision to get us where we’re going,” Barron said.Boris Sharapan Fabrikant, who participated in the directed share program and also bought stock as trading began Thursday, said he plans to hold his investments for 10 years or more.“I believe in this company and Robert so much,” he said, referring to Reffkin. “I kick myself for not buying Tesla early on … and I think this is going to be one of those companies.”Vickey Barron and Boris Sharapan Fabrikant (Compass)Some analysts are skeptical. After Compass’ S-1 was filed, analysts scrutinizing the company’s financials and business plan questioned Compass’ claim to be as much a technology company as a real estate brokerage.The price of Compass stock after two days of trading means that the investing public does not view it as anything close to the next Apple, Amazon or Tesla. But it is not uncommon for stock-owning employees of a newly public company to think their firm is headed for the moon.Addressing questions about Compass’ bona fides as a tech disruptor, Fabrikant said agents who have been “living, breathing, working” at Compass know better than the doubters. He compared its culture to that of shoe e-tailer Zappos, which Amazon bought in 2009 for $1.2 billion.Terrence Harding, who joined Compass in 2016, is also planning to hold onto his stock. He said he expects big headlines that will send the price soaring in the coming months.“I know how Compass moves,” said Harding. “They love to wow you, so I’m pretty sure there’s other things that they have set up for post-IPO.”“They don’t plan their business moves week-by-week or day-by-day,” he added. “Something’s brewing.” Compass, which as a public company must now abide by strict rules for releasing information, declined to comment for this story.Read moreJust listed: A recap of Compass’ IPOHere’s who made bank in Compass’ IPOCompass cuts valuation to $7B ahead of IPO Message* Message* Tags
Letting agents and landlords have unfairly deducted money from the deposits of 2.34 million tenants or 16% of the UK’s renters, it has been claimed.Student lettings website SPCE, which started up last year and claims to have a 50,000 strong property inventory and deals with six universities in the UK, says its research among 2,000 tenants revealed that the problem was even worse among younger renters, who are less likely to know their rights.A quarter of younger tenants and 30% of students had seen their deposits returned with “unfair” deductions, it is claimed, while only 18% of all tenants have successfully challenged attempted deductions from their deposits by a letting agents or landlord.The research also reveals that many tenants lose a part of their deposits because of damage done by fellow housemates, or because of a problem created before they moved in but, presumably, not spotted when the move-in inventory was completed.The research follows figures published last year that revealed that landlords and agents took £1 billion from deposits, according to rental property interiors firm Hillarys.Leon Ifayemi, CEO and co-founder of SPCE (pictured, left), commented on the findings: “With rent prices at record highs, the financial demands placed on tenants looking to secure a property has never been greater.“More should be done to increase awareness of the frameworks in place for those seeking to challenge unfair attempts to take money from a tenancy deposit – this is a legal right that cannot be ignored, with students as well as young people generally clearly requiring greater support and education as to their tenant rights.”leon Ifayemi letting agents rental deposits SPCE deductions January 31, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Housing Market » Letting agents “unfairly” taking deposits from millions of tenants, it is claimed previous nextHousing MarketLetting agents “unfairly” taking deposits from millions of tenants, it is claimedResearch by student lets portal reveals that 16% of all tenants claimed to have had a deposit deducted without good reason.Nigel Lewis31st January 20180875 Views
Abortion And Baby Box Bill Heads To Governor’s DeskMarch 7, 2018 By Quinn FitzgeraldTheStatehouseFile.comINDIANAPOLIS—Legislation requiring health care providers to report abortion complications to the Indiana State Department of Health cleared a final hurdle Wednesday and now goes to the governor for his signature.Senate Bill 340, authored by Sen. Travis Holdman, R-Markle, passed out of the Senate 37-9. The bill adds a series of requirements for abortion clinics to comply with, including having any woman who is prescribed an abortion-inducing drug sign a form that says she has been informed of the manufacturer’s instructions.Sen. Jean Breaux, D-Indianapolis, said she opposes the bill because it shames and stigmatizes women about their reproductive decisions.Sen. Jean Breaux, D-Indianapolis, spoke against Senate Bill 340, saying the bill is a violation of a woman’s privacy. Photo by Quinn Fitzgerald, TheStatehouseFile.com“I’m really quite frankly tired of having to spend time on bills which violate a woman’s right to make decisions and for that of her family,” Beaux said. “This bill is supposed to be about public safety, but it’s basically an onerous and egregious violation of a woman’s privacy.”This bill had moved back into the Senate for concurrence after Rep. Matt Lehman, R-Berne, added an amendment that allows fire stations to use baby boxes––devices for people to anonymously and safely drop off newborns.The language was originally Senate Bill 123, but Holdman said because of time restraints, it was not going to be heard in the Judiciary Committee. That prompted Lehman to combine the two bills.The Legislative Services Agency, in its fiscal notes on SB 340, reported that if the abortion measure is challenged as unconstitutional, the state could end up paying the legal fees of the plaintiff. The Indiana chapter of the American Civil Liberties Union challenged anti-abortion laws passed in 2013 and 2015 and won, collecting more than $300,000 in legal fees.If signed by Gov. Eric Holcomb, SB 340 would go into effect July 1, 2018.FOOTNOTE: Quinn Fitzgerald is a reporter for TheStatehouseFile.com, a news website powered by Franklin College journalism students.FacebookTwitterCopy LinkEmail
The Department of Health and Social Care, the Local Government Association and Public Health England (PHE) are supporting the councils to trial new programmes in their areas, which could help shape future national policy.Planned programmes include a scheme by Birmingham City Council to offer health, food, nutrition and physical-activity focused apprenticeships for 15 to 19 year olds in deprived areas, where obesity rates are highest.The council will also create a local metric, the ‘Birmingham Basket’, to capture local consumer habits. This will help inform policies and measure impact.Bradford will partner with local mosques to support South Asian children – who are at a greater risk of obesity – by providing places and fun ways to exercise, alongside healthier food.Blackburn and Darwen council will work with local restaurants and takeaways to improve menus and incentivise healthier options. This scheme will look at ways to work with outlets to adopt healthier options, for example through free waste removal, subsidised advertising on council-owned estates and a potential health food hub.These programmes will help the government to consider further steps that could be taken to enable local action on childhood obesity.The work is part of the Trailblazer programme and the second chapter of the government’s childhood obesity plan, which was launched last year.Public Health Minister Seema Kennedy said: Five local councils will be awarded £100,000 a year over a 3-year period. The funding will help them to test and refine their ideas for addressing childhood obesity and health inequalities. The councils are: Alison Tedstone, Chief Nutritionist at PHE, said: Every child deserves the best start in life – communities need to come together to play their part in helping the next generation to be healthy and active. Prevention is at the heart of our NHS Long Term Plan, but a one-size-fits-all approach does not work in public health. These pilots are rightly rooted in the needs of the communities they serve and I look forward to seeing what benefits this grassroots approach has on our nation’s obesity problem. Bradford Blackburn with Darwen Nottinghamshire Lewisham Birmingham While obesity has no quick fix, these trailblazers are forging innovative solutions that clearly prioritise children and their long-term health. From expert local knowledge, to local authority intervention, community support and government action, we all have crucial roles to play in combating obesity.
Virginia-based singer-songwriter Sarah White has released a new single with fellow Virginian and perennial chart-topper Dave Matthews. The tune, titled “Sweetheart”, debuted earlier this week via Billboard.“I found these lyrics in rough form in a notebook a long time ago — they are from a time where I was in a bad relationship with someone else but also with myself,” White told Billboard. “The song, the melody came very swiftly, the words finished themselves. It wasn’t something I mulled over. It happened in an instant.” Adds Matthews, “Sarah’s music kills me; beautifully from the ground up, no plastic.”“Sweetheart” was recorded for White’s forthcoming album High Flyer, which is due out on August 3rd. The tune finds White playing the guitar, bass, drums, pedal steel, and piano, with Matthews adding his vocals to the song. This week has been a big one for Matthews, who just reached the top of the Billboard 200 chart with the new Dave Matthews Band album, Come Tomorrow. The feat means Dave Matthews Band has now tied Led Zeppelin for the third-most No. 1 albums on the Billboard 200. Additionally, Matthews appeared on Late Night with Jimmy Fallon last night, where he covered Migos and Cardi B for a hilarious sketch.Sarah White feat. Dave Matthews – “Sweetheart”
Mungion Upcoming 2018 Tour Dates10/6 – Covington, KY – Madison Theater *10/7 – Louisville, KY – Diamond Ball Room10/24 – Hamden, CT – Space Ballroom ^10/25 – South Burlington, VT – Higher Ground Lounge ^10/26 – Cambridge, MA – The Sinclair ^10/27 – Albany, NY – The Hollow ^10/31 – Brooklyn, NY – Knitting Factory ^11/1 – Asbury Park, NJ – Wonder Bar ^11/2 – Washington, D.C. – Union Stage ^11/3 – Philadelphia, PA – The Foundry ^11/29 – Milwaukee, WI – Turner Ballroom *11/30 – Minneapolis, MN – First Ave *12/1 – Omaha, NE – Waiting Room *12/5 – Fort Collins, CO – Hodi’s Halfnote ^12/6 – Frisco, CO – 10 Mile Music Hall12/7 – Steamboat Springs, CO – Old Town Pub ^12/8 – Boulder, CO – Fox Theatre ^* w/ The Motet^ w/ AqueousView All Tour Dates Mungion is quickly rising the ranks of the jam scene. Despite being a relatively new act—the group formed in spring of 2015—the group has earned enormous buzz with their high-octane live performances and dynamic compositions. On Friday, the band has followed up to their first-ever official live release, Live Fun Vol. 1, which was released back in May, with the release of their sophomore studio album, Ferris Wheel’s Day Off.Ferris Wheel’s Day Off finds the quartet—comprised of Justin Reckamp (guitar/vocals), Joe Re (keyboards/vocals), Sean Carolan (bass/vocals), and Matt Kellen (drums/vocals)—joined by a rotating cast of musicians, including a full horn section. The album was produced by the band’s good friend, Ben Factor, and showcases the group’s stellar sense of humor and explosive improvisations.As Reckamp shared in a statement back in mid-August,We have spent the last ~15 months grinding away in different cities, studios, and apartments are very proud of the way the whole thing turned out. … There’s a little something for everybody here – some tracks are funky, others heavy. Often times, multiple genres are represented inside one tune; that’s the essence of what we do, and the records’ diversity is something we are very proud of.The album is available now on digital formats as well as on CD and vinyl LP. You can listen to it for yourself below. The group also recently kicked off an extensive fall tour, which will see the group supporting The Motet and Aqueous. For more information, head to Mungion’s website here.
Read Full Story Mothers in low- and middle-income countries experience high rates of depression during pregnancy and following the birth of their babies, according to a new study led by researchers from Harvard T.H. Chan School of Public Health. They found that one in four women experienced antepartum (before birth) depression and one in five experienced postpartum depression—rates significantly higher than in high-income countries.The study, a systematic review and meta-analysis of previous studies focused on perinatal (antepartum and postpartum) depression, will be published online Sept. 17, 2016 in The Lancet Psychiatry.“Despite its enormous burden, maternal depression in low- and middle-income countries remains underrecognized and undertreated,” said first author Bizu Gelaye, a research scientist in the Department of Epidemiology at Harvard Chan School. “We hope that our findings will help set the stage for subsequent research on maternal depression aimed at accelerating investments in mental health services for mothers during pregnancy and after childbirth.”Although there is a well-established body of evidence around perinatal (during pregnancy and the first year after birth) depression in high-income countries—where rates are 7 percent to 15 percent antepartum and about 10 percent postpartum—few studies have addressed its prevalence, risk factors, and effect on child health outcomes, in low- and middle-income countries.In the review and meta-analysis of results from 97 previous studies, the researchers identified several risk factors that increase susceptibility to perinatal depression, including intimate partner violence, mothers’ prior exposure to abuse as a child, maternal low educational attainment and socioeconomic status, and little social support.
LAAD – The Latin America Aero & Defence Security Conference 2011, the largest and most important event of the Latin American defense and security sector, takes place from 12-15 April in Riocentro, Rio de Janeiro, and highlights the challenges of security integration for prominent athletic events. Consolidated as the main forum for debate and display of new technologies in the region’s defense sector, the fair is marking its eighth edition by expanding the space dedicated to public security – a subject ever more integrated into discussions of security in Brazil, especially in view of the organization of the 2014 World Cup and the 2016 Olympic Games. Held biennially, LAAD is a renowned meeting place for government officials and major manufacturers from both the Brazilian and the world defense industries. The Official Delegation Program brings high-ranking officials from the navies, armies, and air forces of Latin American countries and other continents to the fair. Due to the increasing relevance of the subject of public security, the event is attended by secretaries of public security, commanding generals of the military police, chiefs of the civil police, and commanding generals of the municipal guards, besides security authorities from other Latin American countries. LAAD brings together companies specialized in providing equipment and services for the armed forces, the police, special operations forces, security services, consultants, and government agencies. The eighth edition of the fair will occupy Riocentro’s pavilions 3 and 4 and an external area with fixed exhibits, for a total of 47,000 sq. meters of exhibit space. The by-invitation-only fair displays the technical-scientific products and the technological training offered by the defense and security sectors of high national strategic value. The exhibitors include the major developers of cutting-edge technology in equipment, systems, protective devices, information technology, armor, simulators, aircraft, military vehicles and vessels, communications systems, and integrated command-and-control systems. By Dialogo April 12, 2011
ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Online reviewers can be fickle. Sometimes, their only feedback in a lifetime of membership depends solely on their last interaction with the credit union. Case in point: Last year, a member gave a five-star rating on Facebook to Heritage Federal Credit Union($590.0M, Newburgh, IN), proclaiming “Heritage Federal is the only bank I’ll ever use.”Less than two weeks later, after failing to get a timely call back from the credit union, the member changed her review to one star, noting “if I could give zero stars, I would.”All was not lost, however. After a response from the credit union on Facebook, a private message, and a call from a manager, the member changed her rating back to five stars, saying, “I’ll gladly admit when I am wrong … Tim treated me like a had $1 million in the account.”
A total of 10 foreign buyers are participating in the project, with 22 participants from the Zagreb area and 10 participants from the Kvarner area. In a few days, during organized networking gatherings, foreign buyers have the opportunity to meet members of the domestic congress industry. The aim of the project is to present Croatian congress facilities, the possibility of award trips and Croatia as an attractive team building destination, but also to create new connections and business opportunities. All participants have the opportunity to get to know the tourist attractions and sights of Zagreb, Istria and Kvarner. Source / photo: Croatian National Tourist Board; Kvarner Tourist Board “Croatia MICE FAM Trip”, more precisely the inspection trip of foreign buyers from the markets of Austria, Germany, Spain, Great Britain, Poland, France and the Netherlands, will be held from 24 to 27 October 2019 in the city of Zagreb, Istria and Kvarner. The project is organized by the CNTB Congress Department in cooperation with the Zagreb Tourist Board and the Congress Office, then the Kvarner Tourist Board and the Opatija Congress Office, and the Istria Tourist Board. The project also involves an agency specializing in business tourism TMF dialogue, whose services were used to bring and select quality customers.