Word: herzberg
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...Andrew Herzberg, along with his brother Kenneth, both former investment bankers, came up with the program after seeing sales grind to a halt on thousands of newly constructed and half-built single family homes and condos in markets such as Las Vegas, Phoenix and parts of Florida. The aim is to assist developers and homebuilders clear unsold inventory, which - at least theoretically - should then help to stabilize home prices industry-wide. (See the best business deals...
...very fearful - they have no idea where the bottom of this market is and they're very concerned that if they buy a piece of real estate now, that two or three years from now they'll see further significant erosion in the value of their property," says Andrew Herzberg, co-founder of Sirius Value Protection LLC, a closely-held company based in New York...
Those fears were abundantly evident in a recent Conference Board report showing that consumer confidence took an unexpected dip, sliding 11 points in February, and the present-situation index, which measures consumers' opinions on current economic conditions, plunged to its lowest level in 27 years. "People are scared," says Herzberg. (See the worst business deals...
Sirius Value Protection offers to calm investor jitters by guaranteeing the long-term value of the property through the put option, says Herzberg. At the same time, the program gives the developer, fund manager, bank, or homebuilder - whoever currently owns the newly-built home - a competitive edge over rivals, he says...
...three-set victory to set up a face off against top-seed Molly Scott of Dartmouth in the next round. In that match, Chang steamrolled Scott, winning 6-1, 6-4. But the freshman met her demise in the next round when she fell to the nine-seed, Casey Herzberg of Brown...