Boston Globe's Casey Ross on a new Fenway Development
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Tami Luhby, CNN MoneyTami Luhby, CNN Money
out there. All my family is out and Antarctica there in -- hockey players all these Bruins players that you love -- -- where you think they're from either from you figure from Massachusetts. What -- -- the American players on the crossed amber is here now so why. Why did you leave. My dad a transfer okay Kampman you'd still be their -- guys that are not facts you'd go back tomorrow -- if you. The problem is I'm not a good enough occupier he it to be. Saskatchewan. Produces more hockey players per capita than any other place in the world to -- a -- paid attention the past couple weeks. But supposedly the number one hockey player in the world it turns out. He's not that Iraqi player you know he is that it is just that the other Canadian playing against -- is a better player. -- birdie is a better player than Sidney Crosby . When he doing and you look at the game of hockey -- get ready looks at the offensive side of hockey chemicals that yet now it's a two -- game you gotta be of the play defense Sidney Crosby can't play defense he sucks and the defense he's he's he's a wimp. And he doesn't play. That's an uncle Chris Chelios . Give me a belt made him but he running each. Is. Like rich rich this is embarrassing to to stop that knowing that Jack and Roenick now. Wage on the island -- got your -- -- these. Players I sound yet I've actually her -- The hall of famers I mean it the best like Bobby or he's from Canada and -- now he's from Saskatchewan. Wayne Gretzky he's from -- In isolating it like that's your national sport that you didn't see any baseball players made it in the -
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
right now are taking a look at the waterfront -- the new real estate option. Then moving to a different officers bank put you know they want to establish -- -- exciting new abandoned building and so. The seaports and interest and opportunity that drawing a lot of companies trying to. Why I think I like the financial district to that what's the big attraction of the seaport area you name it may be a mess it's. Poll. It's cheap and it's that's the main thing is that you know right up there looking around at look at okay -- and I moved to and another office building downtown and I stay put. You know that the currently rate or should I mean he moved to the seaport there's a -
Shawn Kravetz, Esplanade Capital
Shawn Kravetz, Esplanade Capital
been and then. We'd like to buy the whole company and then negotiated transaction . Do you own any shares in the company now. We do we heard the second largest outside shareholder. The family owns roughly 90%. Of this company. DE Shaw. Very very large hedge fund in New York City is the largest outside shareholder and we are number two. Why panel why they're why they hesitating to solitude they must feel that the shares are worth Maurizio I think I can conclude. Well. I don't wanna speak for them but I suspect you're right on the money. They had no idea that and they know there's a lot of value there. And I guess they're confident that someday they will get that we would like to help shareholders get that values sooner rather than later. Because. We thought the assets -- well. You made the statement that you feel the -
What's Up On Wall Street - Andy Cinko, Bloomberg News
What's Up On Wall Street - Andy Cinko, Bloomberg News
we asked a question of the day which had to do with Social Security And collect your Social Security for retirement age or are you going to collect literally. 73%. Of Americans collect their Social Security early in the vast majority of cases I think that's a mistake but people do it for any reasons. When I came up with June and I think is a good idea for us to talk about is you know we're sitting here and and and acting all high and mighty. As it relates to this discussion about Social Security in the back the matter is we have access to tremendous resources on this topic whether the courts are now ski. Who worked for the departments of security for 37 years or whether it's Chris Farrell was a reporter for Bloomberg we have access to a lot of data. What I would like to do is make this information on Social Security Tips to maximizing -- worst Social Security benefits I'd like to make it available to our listening. I think it's they I think it's important. You know people refer to it I think some 97 -- as areas of securities of Ponzi scheme this. I disagree with you respectfully -- disagree with you but you know -- more importantly. Please educate yourself on Social Security Call this phone number it's 508591. 5444. Asked for the guide about Social Security tell the I would pay -- wanna learn more about Social Security Barry seems to know a lot you know why I read a -- I studied this stuff every day it's what I do for a living. 5085915444. Is the number you should call. Call them. Tell -- you're listening to the financial exchange and you want to learn more about how he can maximize your benefits. Out of Social Security I think you'll be glad you made the call I know I was glad when I read the report on Social Security Maybe a more informed consumer. 5085915444. Up next Sean Kravitz he's the president of a hedge fund. That has been trying for
Automatically Generated Transcript (may not be 100% accurate)
They were all waiting on a couple data points before the stock market makes a lot of moves I think. Apple could move the market today unit they come out with a blockbuster product at 1 o'clock back to move the market. You've got an unemployment report coming out tomorrow morning at 830 -- that weekly jobless claims number. And then on Friday you've got the granddaddy of them all the monthly jobs report. That too is a major market moving event between now and then you should expect volatility how we do and so part. Okay well again and that ADP private jobs number that came out earlier Barry keeping things in positive territory. Dow's up seventy points to 12776. The NASDAQ is up twelve points the S&P is up to. Tank here hanging out at one point 962. Gold it's up five dollars oil it's down twenty cents to 10450. -- it will -- Ross as a reporter at the Boston Globe Kasey welcome to the financial exchange married and -- had a -- -- center. Got a big victory or yesterday you tell us about it. The state plan court throughout zoning challenge to. And right center which are around the project that time to move forward to of course the the entity that I had challenge of the zoning ten so hopefully that there's some of the biggest barrier that had been standing in the way of the project. What is the scope of the project it's unclear to me. As to what they're actually planning to do. It's my buildings. And it would be on the property this sort of -- them now are peck canyon between. Beacon street Brookline avenue right outside of Fenway Park they would build my building there. We apartment buildings are -- large parking garage and then at 27 story. Almost an apartment building. In retail stores would be into the basement most of the buildings so it was a very large project. -- of public transportation their. The public transportation is also gonna get an improvement there's a -- he commuter rail station which is on the western wind which anybody wouldn't who has used it knows it kind of a decrepit. Station there's really tennis. You know it doesn't provide collateral that. You know stayed very good anyway and -- understand that they could as station that can accommodate. That the frequency of train stops to make it an -- this station but that's gonna get rehab -- they're gonna get a couple of new roads into the development that is well. What is the buildings in those locations now are there any landmarks that we can think of it that are going to be leaving us to Citgo sign this so going to be there. -- -- -- going to be an absolutely no idea that there's not really a lot of the landmark building that'll be removed that this could eventually can take place on parking lot. That exist between Brookline and beacon street there's this you know big -- to property -- That a lot of people who may go to red dot became pinellas just a giant parking facility inside the building will be built on that land as well as on air right over the turnpike so they're gonna have to -- over the turnpike to build a couple of the building. While now they investor is the developers John Rosenthal right. I correct how much money's -- into the steel. It's -- 450 million dollar project -- putting into his own equity but right now he's not looking for a joint venture partners to join him. To provide additional equity and help secure financing for the project. How many jobs do you think navy -- this is. It and we keep talking about this case -- we talked about this in the past and he got a lot of shovel ready projects in the Boston area. How many jobs -- -- they start. This will be a big run this could be 17100 construction jobs. And I don't think those jobs it would really be available for another year you know it yet it's gonna take some time they had to get the financing get the agreement does squared away. And then that began construction but. When he does -- -- -- seventeen under construction jobs and then that's a permanent -- probably about 200 or so. As a result of the retail building that the retail stores open and the building. You know who the lead lender is on this deal. I haven't figured yet. That's the process he's gonna be going through now. One of the things that happened -- be the only -- to file that all the passengers who would have invested in the project are scared away knowing again that the project and you don't know. You know what thirty repairs are going to be -- that the project is gonna be greeted as bears had beaten the Pope and now we can really Begin to attract the public financing in the park nursing. And do you think they'll let the money will come back is it is it a viable project. And it is reliable project. You know especially then what he's filling up primarily apartments that -- a lot of money -- at an apartment right now Boston which has -- very hot. Rental market they competed very low rent are high. That -- the big banks to come in and say we want to build the you know we want to finance department because they get returned and -- I think it's a very unanswerable project and I think you know you'll Begin to see. Some some lending and some interest some equity investors. Any chance at the mayor's gonna put the kibosh on this he's killed a lot of other deals in Boston. No I mean maybe -- The main development. Agency of this city has already approved the project -- -- permanent entitled it's ready to go all it needs is this from the financial backing and the mayor has signaled that he's very much in support of that. Very good look Casey nice job and I appreciate your time thanks for joining us out of thank you that's Casey Ross Boston Globe as big article on that -- that you know Barry can foursquare is it's just horrific. Chaotic construction site as it is it has been for so long like even imagine. If we have to go to red sock and be less parking and access. There's no parking now. I I'd be faster -- or to walk from midfield that is part of that product if not fully and we're is that you can barely get across that we're to get to a game now you know the image signal watch and.
