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The Atlanta Hawks Baseball and Entertainment LLC, former owning group of NBA’s Atlanta Hawks, are suing the New Hampshire Insurance Company for failing to finalize concerning the settlement of client former Hawks’ manager, Danny Ferry. AHBE, led by Bruce Levenson, have already sold the franchise to an investment group led by Tony Ressler. The suit, which in no way involves Ressler’s group, charges NHIC for breach of contract and bad faith. AHBE has long used NHIC for employment purposes and fully believed that they covered losses related to employment practices.

Ferry was bought out of the Hawks’ franchise for on June 22, 2015 and Fessler’s group bought the franchise on June 24 of the same year. A spokesperson for Fessler’s group has officially announced to the ESPN press that since they are in no way connected to the lawsuit, they know of no details whatsoever. In fact, few parties outside of those involved know very many details at all since the amount of the claim has been classified as confidential. What is known is that the lawsuit primarly involves NHIC’s failure to acknowledge the claim at all.

That means they did not participate in any way during the event surrounding the dealings with Ferry. This despite the fact that NHIC is by the terms of the agreement clearly obligated to redeem the claim. The lawsuit shows that they have no grounds whatsoever in being justified in ignoring it. Barnes & Thornburg LLP, the law firm representing AHBE in this matter, as part of the suit is seeking 50% penalty for the unpaid loss and the additional legal fees. NHIC has not commented on any of this. Levenson, the aforementioned leader of AHBE, made his fortune after co-founding United Communications Group in 1977. He also continues to sit on the Board of Directors of TechTarget. Visit brucelevenson’s website for more information.

Read more: http://www.prnewswire.com/news-releases/undergrads-and-graduate-students-mastering-philanthropy-300038081.html

 

Venezuela’s economic troubles are increasingly leaving the nation isolated from the rest of the world. Recent news reported by Noticias 24 by airlines Lufthansa and LATAM to pull out from the country have just made things worse. The two join a growing list of airlines that have stopped service to Venezuela or significantly curtailed their operations there. Unless the situation improves, it is likely that others will join them.
The reasons why airlines are leaving Venezuela are simple says expert Jose Manuel Gonzalez: an inability to repatriate their revenues and dropping passenger numbers. Venezuela has imposed currency controls in 2003. These controls require companies operating in the South American nation to receive permission from the government before they can exchange the local bolivares for hard currency, such as US dollars. But lately, the country has faced a significant shortage of foreign currency and few such requests have been approved.

According to industry news reports showing data from the International Air Travel Association (IATA), Venezuela tops the list of countries blocking repatriation of airline funds, with nearly $3.8 billion held for 16 months so far.

Another reason that airlines are finding operating in Venezuela unprofitable is the lack of passengers due to the fact that few people can afford to travel at this time. IATA numbers show that passenger numbers for Venezuela’s main airport have been down in the last two years, while other nations in the region, like Peru and Colombia, have seen large increases.

President of the U.S. Money Reserve spoke out recently about the possibility of removing the penny from circulation. Killing the penny could save taxpayers millions each year. Are we ready for all the consequences that would happen if we remove coins from circulation? US Money Reserve President Phillip Diehl believes that creating pennies costs more than having pennies are worth. He also states that nickles are no longer worth producing either. Nickles cost 4 cents more than they are worth. Is it time to kill the penny production?

According to the article, charities would suffer drastically. Most people donating to charities are donating by means of a coin. When you see a charity standing in front of the local Walmart, you reach in your pocket for your coin change to drop in the bucket. Pennies and nickels make up a large amount of the contributions charities collect. How would a charity collect if plastic was the only “currency” around? Plastic users will need things like credit card machines or card sliders to accept funds. Without sliders or credit card machines, charities will suffer donations.

Rounding off to the nearest dollar is another option being considered. This means if a can of soda originally cost $1.25, and the coin part was tossed, then the soda cost would either increase to $2 or it would only cost $1.00. This concept is good if the price goes down. If the price increases by a dollar, then consumers would be suffering the consequences of killing the penny.

Mark Weller, comments that he has no reason to think that the general business will decrease its cost. He believes that most of the smaller stores will increase to the next dollar instead of decrease to lower. The economists believe that removing coins from circulation could cause local small businesses to have issues staying afloat unless they raise prices.

According to Jarden Zinc productions, in 2010, the United States ask for solutions to cheaper penny production. Now in 2015, the U.S. Is no closer to coming up with the solution. Diehl believes that the nickel is savable but the penny has little to no hope of holding on. Hopefully, the coin will remain in circulation so that charities and poor individuals can still have a chance to succeed.

Visit: https://www.crunchbase.com/organization/securus-technologies