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category_outlined / Business & Finanz
ForbesForbes

Forbes October 31, 2018

Whether it’s reporting on the “next Facebook” or scrutinizing a new tax law, Forbes covers stories with uncanny insight and conciseness that hurried business folks appreciate. Get Forbes Digital Magazine Subscription today for rigorous, to-the-point business analysis.

Land:
United States
Sprache:
English
Verlag:
Forbes Media LLC
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IN DIESER AUSGABE

access_time2 Min.
the trump detectives

THIS IS THE 37TH ANNUAL EDITION of The Forbes 400 list of richest Americans. Donald Trump appeared in the very first one. He appears in this one. And except for his infamous 1990s insolvency, he’s appeared every time in between. It’s been quite a ride: Of the 1,597 people who’ve appeared at one time or another on the “Rich List,” no one has been as obsessed with his ranking as the president of the United States. In turn, given his proclivities since day one to hype, exaggerate and outright lie, we’ve spent more time scrutinizing and appraising his holdings than those of anyone else on the list. These deep dives into Trump Inc. would have seemed little more than great fodder for future historians. But then Trump shocked us, and every…

access_time6 Min.
the disaster of 2008 why it can happen again

COUNTLESS COMMENTARIES and articles are marking the tenth anniversary of the panic of 2008. Yet almost all ignore the root cause of the crisis: a weak dollar. A wobbly, volatile currency always begets economic upheavals. If we don’t grasp that fundamental lesson, we will inevitably get into trouble again, big time, in the future. Moreover, these retrospectives overlook or downplay two other major blunders by the federal government. Here are the three. • Damaging the dollar. Precipitated by the popping of the high-tech bubble, the economy weakened in 2000 and went into a formal recession the following year. In response, the Federal Reserve started to cut interest rates. Then it and the Treasury Department (which by law is in charge of the dollar) began to undermine the value of the greenback. That was…

access_time2 Min.
restaurants: go, consider, stop

• Coco Pazzo 160 Prince St., at Thompson St. (Tel.: 917-261-6318) Pino Luongo, proprietor of this updated version of the UES original, brought Tuscan fare to NYC in the mid-1980s. Offerings sound classic but are prepared with updated creativity. Begin with insalata carciofi, a light salad of raw baby artichokes, Parmigiano and fennel tossed in olive oil and lemon. The oven-roasted calamari is served with thin fried zucchini. The pastas are perfection, and the cotoletta is a scrumptious version of a breaded veal cutlet. Finish with tangerine soufflé and a glass of limoncello. • The East Pole Fish Bar 964 Lexington Ave., between 70th & 71st streets (Tel.: 646-870-9007) Tom and Anthony Martignetti have created another winner: a raw bar and seafood oasis. Oysters are sourced from both coasts. Begin with those, the smoked bluefish…

access_time3 Min.
game of inches

EXCLUSIVE NFL TEAM VALUES NATIONAL FOOTBALL LEAGUE team values have plateaued. The value of an average franchise increased 2% over the past year, to $2.57 billion. That was the smallest increase since 2011, when the average figure increased 1.4%. When adjusted for inflation, values fell by 0.7% this year. The primary reason: the dearth of people who have the liquid wealth to buy 30% of an NFL team. When Jerry Richardson put the Carolina Panthers up for sale after last season, some pundits were predicting the team could go for $3 billion. Billionaire David Tepper got it for $2.3 billion because he was the only person at the table with enough cash to satisfy the league’s financing rules. The NFL has the strictest ownership requirements among the four major U.S. leagues. In a team…

access_time1 Min.
the class of 2018

THE ADMISSION CUTOFF for this year’s Forbes 400 is a record $2.1 billion, yet 15 people surmounted it to earn their first-ever spot among the richest Americans. Entrepreneurial spirit reigns, too: All but three are self-made. MAKE WAY, MR. BEZOS? Shares of the e-commerce site Wayfair, founded by Niraj Shah (above) in 2002 with his Cornell classmate and fellow Forbes 400 newcomer Steve Conine (right), have soared nearly 80% in the last year. The duo got started hawking stereo racks and stands before expanding meticulously into other market niches. Wayfair now carries more than 10 million products, with a focus on home furnishings. ERNEST GARCIA II $5.3 BIL CARVANA DAVID STEWARD $3.4 BIL IT SERVICES LYNSI SNYDER $3 BIL IN-N-OUT BURGER GAYLE BENSON $2.8 BIL N.O. SAINTS, PELICANS DREW HOUSTON $2.7 BIL DROPBOX BRADLEY JACOBS $2.7 BIL XPO LOGISTICS BILL AUSTIN $2.5 BIL HEARING AIDS THOMAS HAGEN $2.3…

access_time2 Min.
down, out or deceased

SEVENTEEN BILLIONAIRES dropped from the ranks of The Forbes 400 this past year, with divorce, a sandwich slump and philanthropy putting a dent in three prominent fortunes. Many others simply failed to keep up, falling somewhere south of this year’s $2.1 billion cutoff for inclusion. SUBPAR Subway, the sandwich chain cofounded by Peter Buck, is going through tough times. Sales have slid for several years, and in 2017 the company closed nearly 900 stores (net) across the U.S. In May it tapped its first CEO from outside its founding families. Subway’s woes, plus some charitable giving, sent Buck’s net worth down 35% over the past 12 months. BROKEN BOND The marriage of ex-Pimco investing baron Bill Gross ended with a nasty asset tussle after his wife, Sue, filed for divorce in 2016, citing irreconcilable…

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