Category Archives: Business News

The Success of Dick DeVos

One of the most influential families within the United States is the DeVos family, a family that is not only known for their many generous contributions to deserving organizations and foundations across the country, but also a family that has put a lot of time and effort in creating an education initiative to improve the system of education within the United States. The DeVos family is a rich and powerful family that gained their wealthy through hard work. The leader of the family is Richard DeVos, an individual who built the family company from the bottom up and an individual who still continues to be a part of the company even after six decades of hard work.

 

The company of the DeVos family is known as Amway Corporation, an international business that has a net worth of billions of dollars. Amway Corporation specifically specializes in the sales of household products to many countries outside of the United States. Though Richard DeVos has built and maintained the company, his son has continued to play a major role in growing the company for the future. this individual is Dick DeVos, a hard work man as well as an individual with a business savvy mind and a passion for economics.

 

Even as a young boy, Dick DeVos knew that he wanted to become a businessman and to follow in the footsteps of his father. Dick DeVos has always associated business with fond memories of growing up where he and his father would spend much time together in the office that was located in the basement of his family home. Dick DeVos even has fond memories of playing with his brother in the office as well as helping out where he could help out. Even before high school, Dick and his brother filed papers or ran errands for employees of the company.

 

While growing up, Dick DeVos grew an appreciation for business and decided to become a businessman even before high school. By his high school graduation, Dick DeVos was ready to join the business and was ready to help his family business grow in order to also grow the family legacy. In present day, the passion that Dick DeVos has for business has not gone away. With over four decades of business experience, Dick DeVos continues to be a part of the family company and even served as the CEO of the company for a while.

 

IAP Worldwide Won the U.S Army Distributed Common Ground System Contract

IAP Worldwide Services was excited to announce that it won the US Army Distributed Common Ground System Contract. The announcement, however, did not come as a surprise since the company has been winning lucrative deals and has worked with the US Army before. Some of the services the company is expected to offer include logistics, integrated services, fielding and training support for the System-Army Distributed Common Ground. The company is supposed to start work immediately under the Third Rapid Response contract.

Fulfilling their Mission

IAP Worldwide Services is one company that does not fear challenges, and they’re willing to tackle challenges that are presented to them by clients regardless of how hard the task is. Their primary mission is to ensure that they accomplish the missions of their customers. They have the experience having been on the market, so they know the requirements of their clients. Their response is quick so as to ensure they achieve their goal and save lives.

Read more:
Kaye Scholer Represents Lender Group in IAP Worldwide Restructuring
IAP Worldwide Services, Inc. announces the acquisition of two business units from DRS Technologies, Inc.

A Brief Overview of the US Army Contract

The contract is designed to make sure that there is processing of information, investigation, data posting, monitoring operational weather, surrounding and giving relevant information the US Army. Included is also data processing systems, networking, offering training, accrediting hardware and hardware systems engineering. The agreement is worth $53 million.

The IAP Worldwide Services team of professional has appreciated the contract and the continued support they have always received from the defense force. Brandon Pugsley, who is the director of the IAP Worldwide Information Technology Unit and Intelligence Program, ensured customers that IAP Worldwide would continue providing quality services to their clients so as to make sure they achieve their goal having happy customers.

The IAP Worldwide Services selection by the US army to enter the contract shows that the defense is appreciative of the company services. It indicates that the firm is competent and it will continue offering solutions in the field of aviation, support services ensuring there is the proper provision of national security.

The company has been in the lead in providing a variety of services to a range of clients. Having been in the industry for over 60 years, they are well equipped and experienced to continue offering support services to different originations. The company is above many businesses because of their readiness to deal with any challenge that is presented. Since the company was started, many have appreciated the great support.

Check IAP Worldwide Services on Career Builder

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Stephen Left Legacy of Success and Giving

Stephen Murray, longtime CEO of CCMP capital, was a successful philanthropist and CEO. He wasn’t just the CEO of CCMP, he had been there since the beginning. The financial group was a group of people that left J.P. Morgan & Chase Co. The company on nypost.com mostly focuses on buyouts and investments and are focused on growing equity. He led the firm until his resigned from it in February of 2015. He resigned due to health complications and died one month later.

CCMP Capital

CCMP Capital is ranked as one of the top 20 private equity funds in the world. This is strong growth considering the fund has been in existence for just under 10 years. CCMP was originally a part of the bank JP Morgan & Chase until the partners spun out and created their own fund in order to quell any conflict of interest that the fund may have with clients of the bank.

CCMP has actually been around since the early 1980s. It originally called Chemical Venture Partners. It kept this name until it was acquired by Chase Manhattan Bank in 1996. After that, the fund’s name was changed to Chase Capital Partners. The period where it was owned by Chase was when the fund saw the most growth under Murray’s leadership.

The spin out of the fund was really started by Chase’s acquisition of Bank One. Bank One already had their own private equity investment division. It made this fund redundant on en.wikipedia.org and created some conflict of interest so it the partners were forced to spin in out and have it go out on its own. Murray led the fund all through this period until his resignation last year.

Read more: CCMP Capital Advisors Gets Backing to Resume Investing From Fund

Education

One top of being a great business leader, Murray is also very educated and well-known philanthropist. He received his undergrad degree from Boston College with a major in Economics. He the matriculated at Columbia where received his Master’s in Business Administration. Both of these were assets in his professional career.

Philanthropy

His most prominent charity role was to serve as one of the chairmen on the council of the Make a Wish Foundation region of Metro New York City. He also served on the board of trustees of his alma mater, Boston College. He has helped raise money for various food banks and museums in New York City and Connecticut. Murray’s death was a huge loss to the New York City financial and philanthropic communities.

Learn more about Stephen Murray: https://www.crunchbase.com/person/stephen-p-murray#/entity

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AHBE Sues Insurance Company over Breach of Contract

AHBE filed a lawsuit against a New Hampshire Insurance Firm believed to be AIG over Ferry settlement. Atlanta Hawks Basketball and Entertainment owned by Bruce Levenson is the former ownership group of the Hawks NBA franchise.
On September 13, AHBE filed the lawsuit against the insurance company at the Superior Court in Fulton County. AHBE claims the insurance contract covered losses related to employment practices such as wrongful termination and workplace torts among others. The court documents reveal that AHBE notified AIG on 2 April 2015 that claims had been asserted by Ferry.

AHBE and Ferry reached a buyout agreement on 22 June 2015 ending the six-year relationship worth $18 million. According to Forbes, this undisclosed buyout led to the approval of the sale to the current owner of the Hawks Ressler two days later. A spokesperson of the current Hawk’s ownership went on record to distance themselves from the ongoing court cases claiming the disagreeing parties have no affiliation with the Atlanta Hawks.

The lawsuit filed by AHBE states that AIG failed to acknowledge that a claim was made by AHBE while also failing to recognize that the policy had been triggered. The lawsuit further said that AIG refused to defend the claims or accept coverage during discussions between the former Hawk’s group and Ferry’s counsel; a breach of the insurance policy for failure to cover the losses in the settlement.

About Bruce

Mr. Bruce Levenson is an entrepreneur and a philanthropist. He is a former co-owner of the Atlanta Hawks, a professional basketball franchise where he also served as the governor on the NBA board of governors.

Mr. Levenson is a co-founder of United Communications Group, which is an information company that deals with many industries including data, energy, mortgage banking, etc. He is also a founding board member for TechTarget, an IT media company.

http://www.espn.com/nba/story/_/id/11493472/jason-whitlock-bruce-levenson-atlanta-hawks

 

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