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Sterling Equities
Sterling Equities in Great Neck, New York, is a diversified, family-run group of companies whose portfolio consists primarily of holdings in real estate, sports, and media in the New York area. These include the New York Mets, the Brooklyn Cyclones, SportsNet New York, the New York Excelsior, Sterling Project Development, and a number of real estate investment portfolios and real estate services businesses. The firm became embroiled in the Bernie Madoff Scandal exposing a relationship between Sterling Equities partners and Bernie Madoff spanning 20 years. The partners eventually settled a billion dollar suit with the Madoff Trustee, Irving Picard, for $161 million. Holdings and history Sterling Equities is a diversified, family-run group of companies whose portfolio consists primarily of holdings in real estate, sports, and media in the New York area. These include the New York Mets of Major League Baseball (an interest was acquired in 1980, and it was a full owner from 2002 to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fred Wilpon
Fred Wilpon (born November 22, 1936) is an American real estate developer and former baseball executive. He was principal owner of the New York Mets from 1987 to 2020. Early life and education Wilpon was raised in a Jewish familyNew York Observer: "Even During Series Mets Partners Spar, Endangering Stadium" By Andrew Rice October 30, 2010 in , . [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Post
The ''New York Post'' (''NY Post'') is a conservative daily tabloid newspaper published in New York City. The ''Post'' also operates NYPost.com, the celebrity gossip site PageSix.com, and the entertainment site Decider.com. It was established in 1801 by Federalist and Founding Father Alexander Hamilton, and became a respected broadsheet in the 19th century under the name ''New York Evening Post''. Its most famous 19th-century editor was William Cullen Bryant. In the mid-20th century, the paper was owned by Dorothy Schiff, a devoted liberal, who developed its tabloid format. In 1976, Rupert Murdoch bought the ''Post'' for US$30.5 million. Since 1993, the ''Post'' has been owned by Murdoch's News Corp. Its distribution ranked 4th in the US in 2019. History 19th century The ''Post'' was founded by Alexander Hamilton with about US$10,000 () from a group of investors in the autumn of 1801 as the ''New-York Evening Post'', a broadsheet. Hamilton's co-investors included other New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Star-Ledger
''The Star-Ledger'' is the largest circulated newspaper in the U.S. state of New Jersey and is based in Newark. It is a sister paper to ''The Jersey Journal'' of Jersey City, ''The Times'' of Trenton and the '' Staten Island Advance'', all of which are owned by Advance Publications. In 2007, ''The Star-Ledger''s daily circulation was reportedly more than the next two largest New Jersey newspapers combined, and its Sunday circulation was larger than the next three papers combined. It has suffered great declines in print circulation in recent years, to 180,000 daily in 2013, then to 114,000 "individually paid print circulation," which is the number of copies being bought by subscription or at newsstands, in 2015. In July 2013, the paper announced that it would sell its headquarters building in Newark. In the same year, Advance Publications announced it was exploring cost-saving changes among its New Jersey properties, but was not considering mergers or changes in publication frequ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published six days a week by Dow Jones & Company, a division of News Corp. The newspaper is published in the broadsheet format and online. The ''Journal'' has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. The ''Journal'' is regarded as a newspaper of record, particularly in terms of business and financial news. The newspaper has won 38 Pulitzer Prizes, the most recent in 2019. ''The Wall Street Journal'' is one of the largest newspapers in the United States by circulation, with a circulation of about 2.834million copies (including nearly 1,829,000 digital sales) compared with ''USA Today''s 1.7million. The ''Journal'' publishes the luxury news and lifestyle magazine ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ponzi Scheme
A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own. Some of the first recorded incidents to meet the modern definition of the Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit". Howe offered a solely female clientele an 8% monthly interest rate and then stole the money that the women ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jeff Wilpon
Jeffrey Scott Wilpon (born December 9, 1961) is an American businessman who is the executive vice-president of Sterling Equities, and the owner of the Overwatch League Esports team the New York Excelsior. He is the former COO of the New York Mets baseball team and son of the former principal owner of the New York Mets Fred Wilpon. Jeff and other Wilpon family members invested with Bernie Madoff's ponzi scheme that collapsed in 2008. Unlike many who lost their investments, it was revealed in the Madoff firm's court case, ''Securities Investor Protection Corp. vs. Bernard L. Madoff Investment Securities LLC'' (USBC SDNY No. 08-01789), that the family partnership run by Wilpon made $48 million in their dealings with the firm. He is a member of the board of directors for the United States Holocaust Memorial Museum in Washington, D.C. Biography Wilpon was born to a Jewish family, the son of Judy (née Kessler) and Fred Wilpon, the co-founder of the real estate development firm Sterling ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lipstick Building
The Lipstick Building, also known as 885 Third Avenue and 53rd at Third, is a 453-foot (138 meter) tall skyscraper at Third Avenue between 53rd Street and 54th Street in the Midtown Manhattan neighborhood of New York City. It was completed in 1986 and has 34 floors. The building was designed by John Burgee and Philip Johnson for Hines Interests and was developer Gerald D. Hines's first project in New York City. The building's nickname is derived from its shape and color, which resembles a tube of lipstick. The building has a nearly elliptical massing, with setbacks above the 19th and 27th stories, as well as a two-story granite penthouse. The structure is actually polygonal; both the base and the setback sections have over a hundred sides. The building stands on a double-height column at the base, and the facade is made of red Imperial granite and stainless steel. On the northeast side of the building is a nine-story-tall rectangular annex. The building has of rentable space, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bernie Madoff
Bernard Lawrence Madoff ( ; April 29, 1938April 14, 2021) was an American fraudster and financier who was the admitted mastermind of the largest Ponzi scheme in history, worth about $64.8 billion. He was at one time chairman of the NASDAQ stock exchange. He advanced the proliferation of electronic trading platforms and the concept of payment for order flow, which has been described as a "legal kickback." Madoff founded a penny stock brokerage in 1960, which eventually grew into Bernard L. Madoff Investment Securities. He served as the company's chairman until his arrest on December 11, 2008. That year, the firm was the 6th-largest market maker in S&P 500 stocks. At the firm, he employed his brother Peter Madoff as senior managing director and chief compliance officer, Peter's daughter Shana Madoff as the firm's rules and compliance officer and attorney, and his now deceased sons Mark Madoff and Andrew Madoff. Peter was sentenced to 10 years in prison in 2012, and Mark h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Queens Chronicle
The ''Queens Chronicle'' is a free weekly newspaper based in the New York City neighborhood of Rego Park, Queens. It was founded in November 1978 as ''The Paper'' by Susan Merzon. In 1984, it expanded beyond its Howard Beach constituency and was renamed the ''Queens Chronicle''. In 1994, the paper's offices suffered a devastating fire. The ''Chronicle'' has nine separate editions for various regions of Queens. Every Thursday, new editions of the ''Chronicle'' are distributed at more than 950 locations throughout the borough A borough is an administrative division in various English-speaking countries. In principle, the term ''borough'' designates a self-governing walled town, although in practice, official use of the term varies widely. History In the Middle Ag .... , the ''Chronicle'' publishes nine different weekly papers with a total circulation of 160,000, reaching 400,000 readers. References External links * Publications established in 1978 Newspapers published ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Willets Point
Willets Point, also known locally as the Iron Triangle, is an industrial neighborhood within Corona, in the New York City borough of Queens. Located east of Citi Field near the Flushing River, it is known for its automobile shops and junkyards, and had a population of 10 people in 2011. Proposals to redevelop Willets Point started after World War II, but gained full traction in 2007. New York City Council members and the few residents of the area strongly opposed the original plan, leading to several years of lawsuits. In 2011, the city began a $4 billion redevelopment project to construct a retail shopping center, residential buildings with a combined 3,000 units, an entertainment complex, and a public school. The New York City Economic Development Corporation's plan to redevelop the area was approved in 2013, and demolition of the industrial section of Willets Point began in 2016. The new development was originally set to open in stages between 2018 and 2032. However, the re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citi Field
Citi Field is a baseball stadium located in Flushing Meadows–Corona Park in New York City, United States. It opened in 2009 and is the home field of Major League Baseball's New York Mets. The stadium was built as a replacement for the adjacent Shea Stadium, which opened in 1964. Citi Field was designed by Populous. The $850 million baseball park was funded with $615 million in public subsidies, including the sale of New York City municipal bonds that are to be repaid by the Mets with interest. The payments will offset property taxes for the lifetime of the park. The first game at Citi Field was on March 29, 2009, with a college baseball game between St. John's and Georgetown. The Mets played their first two games at the ballpark on April 3 and 4, 2009 against the Boston Red Sox as charity exhibition games. The first regular season home game was played on April 13, 2009, against the San Diego Padres. Citi Field hosted the 2013 Major League Baseball All-Star Game, marking t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Daily News
The New York ''Daily News'', officially titled the ''Daily News'', is an American newspaper based in Jersey City, NJ. It was founded in 1919 by Joseph Medill Patterson as the ''Illustrated Daily News''. It was the first U.S. daily printed in tabloid format. It reached its peak circulation in 1947, at 2.4 million copies a day. As of 2019 it was the eleventh-highest circulated newspaper in the United States. Today's ''Daily News'' is not connected to the earlier '' New York Daily News'', which shut down in 1906. The ''Daily News'' is owned by parent company Tribune Publishing. This company was acquired by Alden Global Capital, which operates its media properties through Digital First Media, in May 2021. After the Alden acquisition, alone among the newspapers acquired from Tribune Publishing, the ''Daily News'' property was spun off into a separate subsidiary called Daily News Enterprises. History ''Illustrated Daily News'' The ''Illustrated Daily News'' was founded by Patters ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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