Boston Globe's Casey Ross on a new building project in Boston
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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)
Building projects keep rolling in here in the Boston area and certainly in Massachusetts that's good news that's why our unemployment rate is only 6%. When the national rate is eight point 2%. Joining us now from the Boston Globe is Casey Ross. Casey's gonna give us a description of the new project that's going in Kasey welcome to the show. So what's going on this is gonna be in the financial district and it's Steve Belkin he's still and I think the Atlanta Hawks at the of the basketball team. Yet -- on the group of companies. Cook transnational group. And to budget travel business's financial -- pretty wide wide ranging sweep of the company. You know -- -- -- he's gonna build something. 133 federal street right which he had in mind. Yes he's got a pretty large tower that he considering on the site -- previously proposed. In 2006. -- 1000 foot tower which would have been the largest of the tallest skyscraper in the city. That plan died and that the F recession and now he's back hoping to build something. Similar though a little scale. So would how it will be high as high as the John Hancock building. It would be around that I if he's able to I mean this is dependent on him being able secure attendant. And in the financing for the project but are ideally I'd think you'd like to build. At the -- of the Hancock and perhaps you it'll -- So what is the likelihood of him getting financing is their money out there for these types of projects -- have to have like a law firm command. As an anchor tenant before you can -- concerns of the likeness. You've got to have a tenement where you can start a project like this it's got to be at a major office tenant in need to have a large percentage of the building pre leased. Before you can even think about generating financing from banks and other sources. To move forward with construction. Because there's another one now waterside places under way right now John drew. He's doing that that's a twenty story building. It's a Toy Story building up different product type it's apartments as opposed to what -- what bill which would be opposite so. The apartment to require less sort of you know. Pre construction work in terms -- you know getting ten and occupants of the building. Who's doing the vertex project is that a big into right. Yeah while Vertex Pharmaceuticals has. Has under has at least those two buildings on the waterfront -- found the developer owns the properties that -- can't hear where. -- -- -- -- All right and then what about downtown crossing -- I'm going on there are 600 foot apartment buildings aren't. Yeah there's a large tower that millennium partners this is -- -- project everybody knows it as the big crater in the middle of the downtown it's been there for three years and that condition and now. -- He's getting back to where millennium partners is taking over that project and is. Beginning to move forward in -- power its proposed 608 apartment and out lot retail stores. We keep hearing about project -- you've written about one in Brighton you've written about the one over at the Fenway. Does it seem like they're slow coming on liners it's hard to pick up Casey. It you know -- it's gonna pick up I mean. Right now the economy's getting better the world as it is generally improving financial conditions are getting better so a lot of those projects. You know that were stalled are beginning to revive it's still somewhat of fragile recovery but a lot of developers are being sort opposite sideline right now and that's happening in. In the Fenway NC park district in a lot of different neighborhoods. Now the mayor is portrayed as a deal killer in many instances is how does he feel about some of these projects is he getting behind Amber's he. -- because he doesn't like tall building -- he wants everything short. No not necessarily mean the mayor has been a pretty you know. I would -- pretty fervent advocate. Large scale economic development projects in the city you know he. You know at certain instances certain locations I think he's. He says dissuaded developers. From pushing height where you see that it would overshadow. You know amenities like the green waiting for example but in general I think he's been pretty supportive actually of large scale build a project it's just the process and Boston. Is an arduous one it takes it takes years to get the project like. Permit yet and it's tougher than if you're out west where there's -- to land the problem in Boston journalist -- up and down and and then you've got to a lot of infrastructure issues as the city's already so compressed. Absolutely right I mean there's very few building site in this city in almost all of them require demolition that would just. A much more complex effort that it would the other one. -- -- Casey thanks for dropping by appreciate it. That's Casey process giving us an update. In those types of things to -- you read these stories in the mover in the Harold. And it makes you feel somewhat optimistic about our future June because -- have. Project that's getting online or starting construction or just got their financing or put the shovel in the ground yeah I like and you gotta wonder. How these others. Other any other states doing the same amount of work New York is there under construct right. New York City is always under construction but we're ahead is -- really well -- -- about Lieberman and number standpoint. Our unemployment rate 6%. National and improve employment rate eight point -- right right so I can promise you. There's a lot more construction going on in eastern Massachusetts then there would be in Rhode Island for instance yet or what did you say the unemployment rate was in or dial an 11% and percent yet there I think there out of list of 51. I think their 49 TO aren't something.
