David Zalik pioneers completely new revenue model with GreenSky Credit

When David Zalik, a highly successful entrepreneur who had already founded and sold multiple businesses by the age of 32, decided to start a technology company that would provide instant point-of-sale loans for big-ticket retail goods, he ran into serious difficulty getting people to believe his vision was possible.

In 2005, Zalik embarked on a coast-to-coast roadshow, pitching his idea to bankers across the country. While Zalik’s idea for a company that would only focus on top-end prime borrowers who needed big-ticket items was a fundamentally conservative one, the revenue model he was proposing was so radical that he had difficulty convincing anyone of its viability. In meeting after meeting, Zalik was enthused by the initial interest that bankers expressed in his idea, only to be later rebuffed by polite declines to pursue his deal. After months on the road, Zalik came to a difficult conclusion; if he wanted to launch GreenSky, he would need to finance it himself.

A big bet pays off

Zalik liquidated his nearly $12 million in commercial real estate holdings, risking his entire worth on the success of GreenSky. But just as Zalik had predicted to all the reticent bankers with whom he spoke, the GreenSky revenue model not only proved to be viable, but it also proved to be one of the most spectacular successes that the fintech industry had ever seen.

The perceived risk in the revenue model was that Zalik was proposing to do three things that had never been done in concert before. First, GreenSky would take no lending risk whatsoever. The company would originate the loans, but it would hold no loans on its books. Second, the firm would get retailers themselves to pay a hefty 6 percent fee up front. And third, the firm would get its lending partners to pay a 1 percent annual carrying fee on all loans that it had originated, subject to certain performance stipulations.

It turns out that GreenSky was easily able to convince all parties to sign up for these terms. The reason is simple: The company creates tremendous value for all involved parties.

http://greenskycredit.atsondemand.com/

Stream Energy: Charity is Part of the Culture…

For Dallas-based Stream Energy, charity and philanthropy are part of the company culture. A new trend has emerged in corporate gifting and it’s a trend that transcends the monetary amounts recorded in the hall of statistics for sub-chapter C write-offs and scandal buffers. As noted by Patch, this is a trend that integrates gifting directly into the company culture by creating a company department that is dedicated to philanthropy and nothing else! Stream Energy calls this department, “Stream Cares.”

Stream Cares does everything in its power to serve its purpose. Stream’s associates are direct sellers (aka independent contractors) and they donate their own self-employed income to Dallas charities. Stream Energy makes sure that Stream Cares matches their donations! They did this for North Texas Tornado victims and also for hurricane victims. To really integrate gifting into the company culture, one must pick a cause that all the locals can get behind.

It turns out that Dallas happens to the be the home to an awful lot of veterans that are in need. Stream Cares worked with a local restaurant of high acclaim, and a company called the American Doll Co. to provide an experience that these vets and their families are likely to never forget as long as they live. Stream Energy kicked things off with the veterans first.

Stream paid for the local vets, and their families, to have an incredible lunch at the acclaimed restaurant. Burgers, steaks, and even ribs were had by all! As always, Stream Energy associates and members of corporate staff were on hand to assist the real way; through elbow grease.

Any veterans that happened to have young daughters were in for a real treat also. The American Doll Co. along with Stream Cares allowed each of the girls to pick out a doll that they could bring home and call their own! The happy times for the girls did not end here, however. All the girls were bussed to lunch at the American Doll Co. Cafe, the same way that their fathers were bussed in for that BBQ lunch! More of corporate America is likely to catch charity fever if they make it as fun as Stream Energy makes it.

https://www.bizjournals.com/dallas/news/2016/11/14/dallas-stream-energy-relocate-headquarters-addison.html

Shiraz Boghani Receives Asian Business Award In 2016

Shiraz Boghani is a committed and an industrious chairperson of the Splendid Hospitality Group. The corporate is situated in Pinner, Middlesex and the firm has many hotels under its management all over the United Kingdom. He resides in the United Kingdom. He surprised a lot of people 2016 when he was rewarded by the Asian Business Award. His oversight gems and a 30 years’ experience in the hotel sector has enabled a lot of nations to learn and be encouraged. He has been rewarded severally over the years. The most prestigious award he received was the Asian Business Award. This led to him being named the Hotelier of the year. Connect with Shiraz Boghani by visiting his linkedin account

When rewarding him the organizers who comprised investment bankers Richmond MP Rishi Sunak, Shailesh R. Solanki and Jitesh Gadhia leading reporter Amit Roy, AMG Supervision Editor Kalpesh R. Solanki, and other sector specialists were impressed and praised Shiraz Boghani for he has persistently shown passion to see the hospitality sector develop.

Shiraz Boghani showed his joy to those who attended when he was called to the platform. He claimed that it was an honor to work at the Splendid Hospitality Group. These being the reason for him receiving the award. His accounting profession has enabled him to supervise over nineteen trading hotels in the U.K only.

He is the current chairperson of the Splendid Hospitality Group. He is also serving as the co-initiator partner and the chair of the sojourn Hotels LLP. At Sussex Health Care Limited he serves as the chairperson. Sussex Health Care, is a nursing and health care facility which focuses on the old people’s needs and those patients who are needy and those sick people who suffer from Dementia and Alzheimer.

Sussex’s noble nursing and health care facility had few units in the United Kingdom some years ago when Shiraz Boghani joined. Currently the company has grown to possess over eighteen homes where needy patients who are old and young get their nursing and medical care with more than five hundred modern beds.

Shiraz Boghani offers charity. He is well recognized for offering charitable donations to several helpful organizations in Europe and U.K. he has really assisted people through the Aga Khan Foundation.

Read more: https://www.hospitalitynet.org/news/4075160.html

 

What you need to know about the industrious leader Peter Briger

Central to the growth and prosperity of Fortress Investment Group success over the years has been the invaluable experience of their co-chairman Peter Briger. Peter Briger who also doubles up as being a principal of the hedge fund has been a critical figure at FIG since he joined its staff in 2002.

Before Fortress, Peter Briger garnered the skills and experience that have propelled him from some institutions. He attained an MBA from Wharton School of Business in the University of Pennsylvania.

His position as partner at Goldman Sach also formed a crucial part of his educational and productive two decades in assets management. He moved to FIG in 2002 where he has had a lot of success leading the hedge fund to be one of the world’s leading assets management institutions.

Peter Briger has had an industrious and prosperous career at FIG. His expertise has been vital in transforming the hedge fund from a small firm to the industry leader it is now managing assets valued at beyond $65 billion.

His positions as the firm’s co-chairman and division head have been instrumental to the growth of FIG. He was elected to the former in 2009 which attests to the fact that he is influential and a good leader. He now heads FIG’s credit fund and real estate businesses.

In his time at the firm, FIG has had numerous milestones with the notable ones being the firm became the first hedge fund to be listed and the acquisition of the hedge fund by the Japanese firm SoftBank Group.

The latter was an upfront cash transaction of a sum believed to be $3.3 billion which is a testament to the leadership and growth of FIG from its modest beginnings in 1998. Peter was a crucial figure in this acquisition, and his administration was noted by SoftBank hence they opted to let him remain at FIG after the purchase.

Other than his professional life, he is involved in some philanthropic ventures. He is a member of the Silicon Valley Leadership Council. This is an organization that focuses on offering the much-needed support to needy kids in the society. He also helps fellow Americans to know and understand the foreign policy through the Council of Foreign Relations which he is a member too.

His busy career has seen him rank at 962 in Forbes Billionaires list with a net worth of a staggering $1.3 billion.