Home » New York Life Fires Private-equity Lending Ceo

New York Life Fires Private-equity Lending Ceo

“After 38 years with the Association, 19 as President and CEO, I am not retiring, but will be focusing on growing specific Association programs to further add value to membership,” said Rick Sampson. “The Association began 78 years ago and today is bigger and more relevant than ever. My father, Fred, served as President for nearly 30 years, and we are proud to pass on our legacy to Melissa we can think of no one better to continue to lead and grow the Association.” Fleischut was recruited to the NYS Restaurant Association in 1998 after a successful four years working in the National Restaurant Association’s Government Affairs Department in Washington, D.C. She began as the Association’s first regional representative and rapidly took on increasing responsibility. Since 2012, when the board of directors named her Chief Operating Officer, she has managed the Association’s daily operations. Fleischut has been integrally involved in all of the Association’s major state and city legislative and regulatory initiatives over the past decade as well as state wage board proceedings. She has been a key liaison with dozens of industry affiliates and in the past few years, has been heading up the Association’s ongoing successful “snowflake logo” re-branding and marketing efforts initiated by the Membership Committee in 2010. “It has been exciting to watch Melissa’s development from a mid-level Association professional to the high-caliber Association Executive she has grown into today,” said Colleen Holmes, Chairman of the Board. “There’s no question she is up to this job because we have watched her successfully master every aspect of this organization’s short and long-term operations. At the same time she has demonstrated top-tier management and strategic acumen that we are looking for to lead the Association into its next chapter.” “I am deeply humbled to be able to continue serving New York’s world-renowned hospitality industry and create new opportunities for hungry hospitality entrepreneurs who want to continually re-invent the world-class brand of hospitality that New York state represents,” said Fleischut. Fleischut has already begun working with the board and membership on a strategic plan for the future of the Association.

life insurer owned by policyholders, fired Trevor Clark, the chief executive officer of the Madison Capital Funding LLC unit, for violating policies tied to personal investments. Hugh Wade, a co-founder of Madison Capital, was named acting CEO, the New York-based insurer said today in an e-mailed statement. New York Life also fired Christopher Williams, a senior managing director at the unit, the insurer said. The dismissals, effective today, were for violating company policies pertaining to personal investments and personal business activities, William Werfelman, a New York Life spokesman, said in the statement. Our companys rules are strict with regard to these disclosures and activities so we can continue to maintain the highest integrity and performance. Clark and Williams had been suspended amid a company probe, a person familiar with the matter said last week. Attempts to reach the men werent immediately successful through phone numbers and e-mails obtained in a public-records search. The men in 2001 helped found Chicago-based Madison Capital, which provides financing to private-equity firms, according to New York Lifes website. The business has completed more than 1,100 transactions totaling more than $15.5 billion in net funded commitments. The unit offers senior loans and equity co-investments, in industries including manufacturing and distribution. Madison Capital targets companies with stable profits and at least $3.5 million of earnings before interest, taxes depreciation and amortization. Wade, 52, is a senior managing director at Madison Capital and previously worked at Bank of America Corp. He graduated from Marquette University and has an MBA from the University of Notre Dame. To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net More News:

New York Knicks Sign Center Cole Aldrich to Contract for 2013-14 Season

And given his aging body and injury-riddled history, it was a risky proposition. According to KnicksNow.com , NBA .com’s official Knicks affiliate, Cole Aldrich will now be calling Madison Square Garden home. While the terms of the deal have yet to be made public, the news does come directly from Executive Vice President and general manager Glen Grunwald, so it’s pretty darn official. #Knicks announce signing of Cole Aldrich. Was working out for the team last week and Monday. Question is knees; always has been since draft. Jared Zwerling (@JaredZwerling) September 24, 2013 Cole Aldrich is interesting name as former lottery pick but it’s non-guaranteed deal. Just like Ike and Powell. Marc Berman (@NYPost_Berman) September 24, 2013 Aldrich, while still a big body, hasn’t experienced the same type of success in the NBA that he had while suiting up for Kansas. USA TODAY Sports During his three years in the Association, the big man has played for the Oklahoma City Thunder (who originally selected him at No. 11 in the 2010 NBA draft), Houston Rockets and Sacramento Kings . He currently sits on career averages of 2.0 points, 2.3 rebounds, 0.2 assists, 0.2 steals and 0.5 blocks per game. Those numbers definitely won’t blow anyone away, but Aldrich fills the exact need that New York possessed. How would you grade this signing? A Submit Vote vote to see results How would you grade this signing? A 8.3% Total votes: 1,815 He can capably play limited minutes without getting in the way offensively, and he’s a solid enough post defender that Mike Woodson won’t hesitate to use him sparingly when Chandler needs a quick breather. The Knicks need to keep their starting big man healthy and having a big body to use off the benchnot a makeshift center who should actually be playing power forwardis quite beneficial. NBC Sports’ Kurt Helin had Aldrich ranked as the 10th-best remaining free agent in early September: He could barely get off the bench with the Thunder, then last season bounced between the Rockets and Kings without making many waves.

New York Children Would Benefit from President’s Plan to Expand Early Education With Tobacco Tax Increase, New Report Shows

The report can be found at www.smarthealthykids.org . It details the educational and health benefits of the President’s proposal nationwide and in every state. Nationwide, the President’s proposal would ensure that two million children in low- and moderate-income families have access to high-quality preschool and prevent 1.7 million kids from becoming addicted smokers. “More than half of high needs children, and disproportionately children of color, are shut out of public preschool in New York. This proposal will not only help keep kids from a path of serious disease and premature death from tobacco use, but make investments in early education that are critical to level the playing field and provide children with the strong start they need to survive and thrive,” saidMelanie Hartzog, Executive Director of the Children’s Defense Fund of NY. “This proposal is a win-win for New York and the country,” saidMichele Bonan, Regional Advocacy Director for ACS CAN. “It gives children the early educational foundation they need, decreases the smoking rate and benefits the entire country by reducing the burden of tobacco use–the leading cause of cancer deaths in New York and the country.” “The President’s early learning proposal is smart, bold and comprehensive,” saidNancy Kolben, Executive Director of Center for Children’s Initiatives. “The evidence shows early education is a launchpad to success. And paying for the services with a tobacco tax ensures they will be healthy, too!” “The American Heart Association is supportive of the proposed increase to the federal tobacco tax as smoking is the leading preventable cause of heart disease and stroke” saidRobin Vitale, Senior Director of Government Relations for the American Heart Association. “The science is unwavering–every time a tobacco tax is implemented, we see a direct result in more adults quitting and fewer young people becoming addicted. We look forward to strong support from New York’s congressional delegation and hope that Senators Schumer and Gillibrand lend their leadership toward approving this expeditiously.” “Expanding access to early childhood education while simultaneously reducing smoking is a win-win for New York’s children. With only 27% of NYC’s low-income children having access to early childhood programs, we strongly support President Obama’s plan to increase access to high-quality preschool programs, saidStephanie Gendell, Associate Executive Director, Policy and Government Relations of Citizens’ Committee for Children. “President Obama’s proposal to increase the federal excise tax on tobacco would spare more of our kids from a deadly addiction that could cost them their lives,” saidMichael Seilback, Vice President, Public Policy & Communications of the American Lung Association in New York.”We strongly support this proposal which would not only reduce tobacco-caused lung disease, but prevent 55,500 kids from becoming addicted to tobacco.” “Too many New York City families in the neighborhoods served by Children’s Aid struggle to find affordable, high-quality early childhood programs that give children the foundation they need to be ready for kindergarten,” saidRichard R. Buery, President and CEO of The Children’s Aid Society.”The President’s early learning initiative, funded by a tobacco tax, will increase our ability to put children on the pathway to academic success and demonstrate our commitment as a nation to raising smart, healthy children.