Category: Reportedtimes

Benefiting From Legislation, Technology, High Taxation Which Drives Consumer Demand

 

MIAMI, FL – Lexis – September 20, 2022, – Novus Acquisition and Development, Corp. (OTC Markets: (NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc. Operates as a hybrid health insurance carrier and, the nation’s first health carrier offering cannabis that is included in health plans for recreational and medicinal users. Today demonstrates how the regulatory landscape changes, high taxes, and technology will supply cannabis health benefits for the American Workforce.

 

 

An estimated 12% of Americans consume cannabis and investors need to be well informed about the regulatory and technological changes that are poignant to their investment.  These changes are favoring Novus’ first-mover advantage and how it strengthens new relationships with mid-tier and major Health Carriers including Big Pharma.

For six years Novus’ first-mover advantage has built a network of cannabis verticals that perform as our Provider Network.  Our foundation in health insurance has allowed us to adjust and adopt changes in the cannabis marketplace. For instance, alliances with health carriers and brokerage wholesalers that white label our plans in Group Sales and our social conscience in helping with Opioid Epidemic and Veterans’ medicinal necessities.

 

Significant Legislation Changes

 

• Compassionate Care Act: Where employees are protected from termination for using medical cannabis, this has led the way for Employer-Sponsored Health Plans that include cannabis.

 

• Human Resources and Complexities of the Workforce: HR policies regarding cannabis will be the newest metric that companies use to recruit and maintain quality employees.

 

• Opioid Settlement Framework: Adjudicated settlement with Major Carriers and Big Pharma in $45 billion compensatory damages, rehabilitation, and opioid diversion programs. Novus Cannabis MedPlans can put them compliant with State Attorney Generals.

 

• The Veterans Cannabis Use for Safe Healing Act: Prohibits the Department of Veterans Affairs (VA) from denying VA benefits due to participation in a state-approved cannabis program(s). Allows the VA to prescribe medical cannabis to veterans and create a safe harbor for financial institutions and other businesses.

 

• Push Against Vertical Integration: State governments are looking towards proposing licensing restrictions so businesses can’t vertically integrate to produce, transport, and sell their own products. This will open up more opportunities to expand our Provider Network.

 

• Emergence of Third-Party Online Ordering: As smaller operations look toward online retail with online platforms it offers an advantage to be more reactive to industry trends and maintain an inventory that consists of popular and varietal product segments for our policyholders.

 

• Barrier of Entry In the Weed Market: From government regulations to technological advancements, small and slow, and now antiquated licensing fundamentals many businesses find themselves facing more competition and growing expenses.

 

• Inflation: Now comes inflation that causes even more of an impediment to consumers who become policyholders that see our benefits packages to cut household budgets.

 

Taxation

 

• Rising Recreational Cannabis Taxation: Especially in California, taxation is as high as 37% prompting recreational users in getting their state cannabis cards and joining our health plan to get the medicinal tax rate which is 50% less. Beginning January 1, 2023, cannabis retailers will be responsible for collecting and paying the cannabis excise tax (15% of gross sales) to the California Department of Tax and Fee Administration (CDTFA). We are confident this will help grow our Provider Network of dispensaries and policyholders.

 

• Future Tax on Weight-based. Similar to cigarette taxes, except instead of taxing per pack of cigarettes the tax is based on the weight of the marijuana product.

• Future Tax on Potency-based. Similar to alcohol taxes, except instead of taxing drinks with a higher percentage of alcohol at higher rates (i.e., liquor is taxed at a higher rate than beer), the tax is based on the THC level of the marijuana product.

 

InsurTech Technology

 

• Ecosystem of InsurTech Platforms: These platforms are a disruptive and innovative technology that sells direct to close to 110 million American workers who have Employer-Sponsored Health Plans. These platforms sell D2C health policies on an ala carte basis as opposed to one-size-fits-all health plans. In addition, gives autonomy to the policyholder.

• Embedded Insurance: As funding for these technologies dries up, many are looking towards Novus’ Embedded Insurance as a revenue share with speed to market with our white label solution. This increases our EBITDA by close to 20% by reducing the outlay of agent commissions.

 

Conclusion

Legislation and Taxation will most definitely drive up the price of cannabis and the consumer will have to absorb these increases. Novus’s business model is aiding in making cannabis more affordable through Employer-Sponsored Health Plans which the American Workforce is demanding to have cannabis as part of their benefits.

There are four characteristics in the aforementioned that has given success to the scope of our business model dramatically, in the areas of:

 

• Regulatory changes allow cannabis to be a part of mainstream health insurance. Where there wasn’t acceptance by health carriers a year ago, we see total acceptance now.
• Our receivable-based business model creates limited overhead, and once the policyholder is procured, they continuously contribute directly to the company’s Net Asset Value.
• Novus does not excessively issue stock, and always uses our mandatory leak-out provision to third-party vendors so there is no considerable quantity of shares coming into the market from shareholders who did not pay for their stock.
• Health insurance carriers rely on two key indicators to measure value and performance. This is called the Benefit Monetization Ratio. Defined as a total number of policies, monetized annually as an Asset, then, is offset by the operating cost ratio then computed to the Balance Sheet as Net Asset Value. See how insurance companies are valued: Click Here

• Financial Filings: Click Here
• Quote:Click Here
• Website: Click Here
• Investor’s Page: Click Here 

 

 

 

About Novus

Novus Acquisition & Development Corp. (NDEV), through its subsidiary WCIG Insurance, Services, Inc. provides health insurance and related insurance solutions within the wellness and medical marijuana industries in states where legal programs exist. Novus has developed its infrastructure within many lines of the insurance business such as health, life, and fixed annuities. As a carrier Novus relies on two key indicators to measure value and performance. The Benefit Monetization Ratio is defined as a total number of policies, monetized annually, which is offset by the operating cost ratio which is a Balance Sheet line item computed as Net Asset Value.

Novus’ medical cannabis benefits package will work as outside developers and will not cultivate, handle, transport grow, extract, dispense, put up for sale, put on the market, vend, deliver, supply, circulate, or trade cannabis or any substances that violate the United States law or the Controlled Substances Act, nor does it intend to do so in the future and will continue to follow state and federal laws. The statements made about specific products have not been evaluated by the United States Food and Drug Administration (FDA) and are not intended to diagnose, treat, cure, or prevent disease. All information provided on these press releases, or any information contained on or in any product label or packaging is for informational purposes only and is not intended as a substitute for advice from your physician or other health care professional. All cannabis transaction is solely between the state-licensed dispensary and the registered patient.

The state laws conflict with the federal Controlled Substances Act. The current administration has effectively stated that it is not an efficient use of resources to direct federal law enforcement agencies to prosecute those lawfully abiding by state-designated laws, allowing the use and distribution of medical marijuana. Changes in consolidation may affect the provider network. However, there is no guarantee that the current administration, nor any future administration, will not change this policy and decide to enforce the federal laws strongly. Any such change in the federal government’s enforcement of current federal laws could cause significant financial changes. While we do not intend to harvest, distribute, or sell cannabis or cannabis-related products, we may be harmed by a change in enforcement by federal or state governments.

Forward-Looking Statements

This release includes forward-looking statements, which are based on certain assumptions and reflect management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Novus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, this press release that is not statements of historical fact may be considered to be forward-looking statements. Written words, such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “intends,” “goal,” “objective,” “seek,” “attempt,” or variations of these or similar words, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future.

Investor Contact Information:

855-228-7355

Email: info@getnovusnow.com

• The MICHELIN^® Defender^® 2 tire outlasted three leading competitive tires by more than 25,000 miles on a treadwear test, delivering two extra years of treadlife.[1]

• When tested for wet[2]and dry[3] on-vehicle braking, the MICHELIN^® Defender^® 2 tire demonstrated stopping distances better than or comparable to three leading competitive tires.

• Delivering ride satisfaction mile after mile, the MICHELIN^® Defender^® 2 tire is designed for smooth, even wear, helping the last mile be as comfortably quiet as the first mile.

• A rolling launch with 47 sizes, the product covers over 60% of the market.

 

GREENVILLE, S.C., Sept. 14, 2022 – Michelin, the most awarded tire brand from JD Power[4] and the 2021 winner of CarTalk’s “Best Tire Brand,[5]” is launching the Defender^® 2 tire for Crossover Utility Vehicles (CUVs) and passenger vehicles, featuring an 80,000-mile warranty with an expansion into 19” and 20” rim sizes. The Defender 2 tire is designed to handle the extra weight and torque of small SUVs, minivans and electric vehicles.

“As the market evolves toward electrification and small SUVs, we continue to strengthen our leadership in longevity and performance,” said Pierluigi Cumo, senior director of Michelin brand and retail marketing. “Throughout our testing, the Defender 2 easily beat several leading competitors in tread life.¹ With significant market coverage in sizing, the Defender 2 will be a welcome addition for dealers and consumers.”

When tested for wet² and dry³ on-vehicle braking, the Defender 2 tire demonstrated stopping distances better than or comparable to three leading competitive tires. Consumers can find confidence in wet and dry conditions through MICHELIN^® Full-Depth 3-D SipeLock^™ Technology. This innovation allows the tire to find extra grip in slippery conditions.

By implementing PIANO acoustic tuning, which reduces vibrations caused by the road resulting in a significant reduction of interior noise, the Defender 2 tire is designed for smooth, even wear, so the last mile is as comfortably quiet as the first mile.

The rolling launch will last through 2023 with additional SUV sizes. The Defender 2 continues its performance strength with every size holding an H-rating and adds 10 XL sizes to the product offer.

 

About Michelin North America, Inc.

Michelin, the leading mobility company, is working with tires, around tires and beyond tires to enable Motion for Life. Dedicated to enhancing its clients’ mobility and sustainability, Michelin designs and distributes the most suitable tires, services and solutions for its customers’ needs. Michelin provides digital services, maps and guides to help enrich trips and travels and make them unique experiences. Bringing its expertise to new markets, the company is investing in high-technology materials, 3D printing and hydrogen, to serve a wide a variety of industries — from aerospace to biotech. Headquartered in Greenville, South Carolina, Michelin North America has approximately 22,500 employees and operates 34 production facilities in the United States and Canada. (michelinman.com)

 

For more information contact:

Christian Fisher

Email: christian.fisher@michelin.com |  www.michelinmedia.com

 

[1] Based on U.S. Department of Transportation Average Annual Miles per driver (13,500 miles) and Desrosiers Automotive Consultants estimate of annual average kilometers driven in Canada (23,000 km), and on a treadwear test using tires in size 225/65R17 on 2021 Toyota RAV4s where the MICHELIN^® Defender^®2 showed an estimated life (based on calculating the most-worn groove of a rotated set) of 94,400 miles versus the Bridgestone^® Alenza^® AS Ultra at 47,700 miles and the Continental^® TrueContact^™ Tour at 59,400 miles and the Goodyear^® Assurance^® MaxLife^™ at 51,900 miles. Actual on-road results may vary.

[2] Based on internal wet braking tests from 50 MPH using tires in size 225/65R17 on a 2021 Toyota RAV4, where the MICHELIN^® Defender^®2 tire had an average stopping distance of 130 ft. against the Bridgestone^® Alenza^® AS Ultra with an average stopping distance of 127.8 ft, the Continental^® TrueContact^™ Tour with an average stopping distance of 145.2 ft and the Goodyear^® Assurance^® MaxLife^™ with an average stopping distance of 134 ft. Actual on-road results may vary.

[3] Based on internal dry braking tests from 60 MPH using tires in size 225/65R17 on a 2021 Toyota RAV4, where the MICHELIN^® Defender^®2 tire had an average stopping distance of 120.9 ft. against the Bridgestone^® Alenza^® AS Ultra with an average stopping distance of 125.8 ft, the Continental^® TrueContact^™ Tour with an average stopping distance of 129.2 ft and the Goodyear^® Assurance^® MaxLife^™ with an average stopping distance of 125 ft. Actual on-road results may vary.

[4] Michelin received the highest number of awards over the last thirty-three years among all other brands in the J.D. Power U.S. Original Equipment Tire and Replacement Tire Customer Satisfaction Studies. Visit jdpower.com for award information.

[5] Michelin was voted “Best Tire Brand” 2021, based on data including Government reporting, consumer reviews, independent third-party evaluations, price, and nationwide surveys of more than 800 mechanics. More details on CarTalk.com/Tires

• 13 restaurants receive MICHELIN Stars, including Sushi Masaki Saito with two MICHELIN Stars
• Selection also highlights 17 Bib Gourmands, plus three special awards
• 74 total restaurants, 27 cuisine types in the selection

 

TORONTO, Sept. 13, 2022 — The first edition of the MICHELIN^® Guide Toronto has been revealed today, with inspectors honoring 12 one-MICHELIN-Star restaurants and one two-MICHELIN-Star restaurant. Toronto becomes the first Canadian city to be featured in the MICHELIN Guide.

“Toronto shows it’s deserving of being the first MICHELIN Guide selection ever in the Great White North,” said Gwendal Poullennec, International Director of the MICHELIN Guides. “The diversity of the selection reflects the cosmopolitan soul of this exciting city. With 27 cuisine types, from Japanese Kaiseki to Italian, Mexican or contemporary cuisine, there’s something to please every foodie here. Toronto already was a multicultural place where people meet to enjoy architecture, arts and nature, and now it becomes a world-class destination for gourmets too.”

Sushi Masaki Saito, led by Chef Masaki Saito, received two MICHELIN Stars. Here’s what the inspectors had to say about it:

 

Sushi Masaki Saito (Japanese/Sushi cuisine)
Only here will you find shirako boldly skewered and grilled over binchotan, and only here will you eat melting slabs of chutoro buried under a blizzard of white truffles. Fish comes exclusively from Japan, and for the nigiri, assistants are quick to bring him his prized rice from Niigata prefecture, warm and tinged with his special blend of vinegars, after every round. Laughter fills the air, thanks to Chef Masaki Saito and his jovial team, and for a few blissful hours, the world outside melts away.

Here are the one-MICHELIN-Star restaurants, with inspector notes from each (inspector comments in full on the MICHELIN Guide website and mobile app):

 

Aburi Hana (Japanese/Kaiseki cuisine)
Chef Ryusuke Nakagawa presents a modern take on the history-steeped Kyō-Kaiseki menu. His cooking is deeply personal and intricate but never overwrought. Each course outdoes the last. The maguro flower, a rose made from pieces of akami and chutoro, is stunning, and kurobuta kakuni, simmered pork belly over foie gras, is dazzling.

Alo  (Contemporary cuisine)   
Everyone has a good time at Chef Patrick Kriss’s beloved Alo. The talented beverage team offers spot-on suggestions from the well-chosen wine list. The kitchen team seamlessly merges European and Asian sensibilities onto a single tasting menu with dishes like creamy Koshihikari risotto boosted with porcini emulsion or rack of lamb with Thai green curry.

 

Alobar Yorkville  (French cuisine)
Seafood figures prominently, and, as one might expect from Chef Patrick Kriss and Chef de Cuisine Rebekah Bruce, product is first-rate and technique exemplary. From chilled lobster with lime aioli to rack of lamb with niçoise olive, the kitchen delivers a kind of refined approachability that suits all occasions. Desserts like mille-feuille with raspberry chantilly are show-stoppers.

 

Don Alfonso 1890 Toronto (Italian cuisine)
Chef Daniele Corona’s dishes echo the contemporary sophistication of the dining room. Eel gelato plated with a tangle of wild rose-scented tagliatelle, pulverized egg yolk and sturgeon caviar delivers a wonderful mix of flavors; tender and vibrant agnolotti are stuffed with Ontario lamb for a rich and meaty filling and doused in a decadent cheese sauce that packs a punch.

 

Edulis (Contemporary cuisine)

The pride and passion of the husband-and-wife owners and their staff is undeniably evident throughout this spot. Settle in for a set, multicourse menu inspired by the Mediterranean. The kitchen eschews fluff, focusing instead on creating harmonious (and delicious) dishes. Freshly carved Spanish ham, cheese and dessert are available as add-ons. The menu proudly hews to the season.

 

Enigma Yorkville (Contemporary cuisine)

Chef Quinton Bennett’s resume is as varied and glittering as the tile mosaics that stretch across the ceiling of this Yorkville looker. Using molecular techniques, he puts his worldly view on the plate, playing on diverse textures and surprising combinations like brassicas with smoked foie gras and dehydrated parmesan or tuna with sheets of beetroot and fermented daikon.

 

Frilu (Contemporary cuisine)

There is a saying that we should dance like nobody’s watching. This adage feels true of Chef John-Vincent Troiano, who cooks to his own rhythm in Thornhill. Smoke, game and refined sauce-work figure prominently on what might be the only tasting menu for several kilometers. A tiny space packed with talent, the sparsely decorated nook leaves everything on the plate, with high-quality product from their own farm coupled with an intriguing Japanese element that feels natural.

 

Kaiseki Yu-zen Hashimoto (Japanese/Kaiseki cuisine)

Chef Masaki Hashimoto’s traditional kaiseki eight-course menu showcases the seasons while celebrating Japanese ingredients. It’s all about focus over flash with a refined intricate style and attention to detail that borders on reverence. Shii-zakana is a signature dish composed of fried soba noodle-wrapped shrimp, but it’s the stunning radish crane that you’ll remember.

 

Osteria Giulia (Italian cuisine)

It seems nearly impossible to have a bad time at Chef Rob Rossi’s Italian stunner. Many Italian menus can look the same, Rossi narrows in on the seafood-rich traditions of Liguria. A deep Italian wine list and an especially talented cocktail program round out an experience that is as accomplished as it is hospitable.

 

Quetzal (Mexican cuisine)      

Almost everything on this tight menu passes through the kitchen’s 26-foot-long wood-burning grill that actively roars and smokes. At the end of the line is a single chef at the earthenware comal, who prepares tortillas from heirloom corn that is nixtmalized and ground in-house. Lamb barbacoa packed into griddled, blue masa tortillas and charred maitake mushrooms set in a crema poblana highlight the transformative magic of fire, while dry-aged amberjack aguachile flexes the kitchen’s delicate side.

 

Shoushin (Japanese/Sushi cuisine)  

Jackie Lin leads the young team with care. The seasonal sushi omakase is especially delightful. Grilled cutlassfish, rarely seen on many menus, is served hot and flaky. Striped jackfish with a kiss of green onion is flavorful; golden eye snapper is nicely aged. From lean bluefin tuna with mountain yam and tart kohada to excellent baby seabream with lime, it’s hit after hit.

 

Yukashi (Japanese/Kaiseki cuisine)           

Chef Daisuke Izutsu has cooked for royals, dignitaries, and you, if you’re one of the lucky 15 who has secured a seat at the intimate Yukashi. Firmly rooted in seasonality, this kaiseki-style menu is highly original and personal. The otsukuri, with slices of shima aji with yuzu zest, toro with pickled turnip and hay-smoked hamachi delicately arranged atop a white marble base, is a work of art.

 

Bib Gourmands

The MICHELIN Guide inspectors found 17 restaurants worthy of the Bib Gourmand designation, which recognizes great food at a great value. These are restaurants where one can have two courses and a glass of wine or dessert for less than $60 CAD.

 

Special Awards

In addition to the highly anticipated Bib Gourmand and Star distinctions, the Guide announced three special awards. The Michelin Service Award, presented by Air Canada, went to the team at Edulis, led by husband-and-wife chefs Michael Caballo and Tobey Nemeth. Sommelier of the Year was awarded to Christopher Sealy and his team at Alo. And the Exceptional Cocktails Award was earned by the team at Osteria Giulia.

 

 

The MICHELIN Guide Star Revelation event is presented with the support of Capital One.

The full MICHELIN Guide Toronto selection is available free of charge on the MICHELIN Guide website and app. The restaurants join the MICHELIN Guide selection of hotels, which features the most unique and exciting places to stay in Toronto and throughout the world.

Every hotel in the Guide is chosen for its extraordinary style, service, and personality — with options for all budgets — and each hotel can be booked directly through the MICHELIN Guide website and app. The selection for Toronto currently features the city’s most spectacular hotels, including sustainability pioneers like 1 Hotel Toronto, standouts from the “Plus” collection like the Soho Hotel, and design-forward boutiques like The Drake.

The MICHELIN Guide is a benchmark in gastronomy. Now it’s setting a new standard for hotels. Visit the MICHELIN Guide website, or download the free app for iOS and Android, to discover every restaurant in the selection and book an unforgettable hotel.

 

The MICHELIN Guide Toronto Selection

 

2022 Starred Establishments

 

 

About Michelin North America, Inc.

Michelin, the leading mobility company, is working with tires, around tires and beyond tires to enable Motion for Life. Dedicated to enhancing its clients’ mobility and sustainability, Michelin designs and distributes the most suitable tires, services and solutions for its customers’ needs. Michelin provides digital services, maps and guides to help enrich trips and travels and make them unique experiences. Bringing its expertise to new markets, the company is investing in high-technology materials, 3D printing and hydrogen, to serve a wide variety of industries — from aerospace to biotech. Headquartered in Greenville, South Carolina, Michelin North America has approximately 22,500 employees and operates 34 production facilities in the United States and Canada. (michelinman.com)

 

About Capital One
At Capital One we’re on a mission for our customers – bringing them best-in-class products, rewards, service, and experiences. Capital One is a diversified bank that offers products and services to individuals, small businesses and commercial clients. We use technology, innovation, and interaction to provide consumers with products and services to meet their needs. Through Capital One Dining and Capital One Entertainment, we provide our rewards cardholders with access to unforgettable experiences in the areas they’re passionate about, including dining, music and sports. Learn more at capitalone.com/dining and capitalone.com/entertainment.

 

For more information, contact:

Andrew Festa
Michelin North America
andrew.festa@michelin.com

Devon Gunn
Capital One
devon.gunn@capitalone.com
Phone: 571-308-4762

WBENC, the gold standard certification, validates the company is more than 51% women-owned, ensuring access to increased business markets and verticals

 

PLANO, TEXAS (August 31, 2022) — The CMI Group, an employee-owned company (ESOP) and the industry-leading solutions provider to clients nationwide, announced today the company has been officially designated as a Certified Women’s Business Enterprise (WBE) by the Women’s Business Enterprise National Council (WBENC). WBENC is the largest certifier of women’s business enterprises in the United States and a leading advocate for women business owners, leaders and entrepreneurs.

“We could not have achieved this certification without the participation of our dedicated owner-employees, and we are incredibly proud of all of our owners,” said Carrie Finney, President and CEO of The CMI Group. “This certification positions The CMI Group within business markets and verticals that are committed to partnering with WBEs and organizations such as ours.”

The rigorous certification process includes a review of business documentation and confirmation that the business is owned, operated and managed by a majority of women. With more than 600 employees in its global operations, The CMI Group is a 100% ESOP company, giving every employee a vested interest in the company’s growth and success.

“WBE certification aligns with our organization’s values and our commitment to our owner-employees, partners and customers,” continued Finney. “This certification is significant because The CMI Group can now help our partners and customers achieve their supplier diversity goals and demonstrate their commitment to fostering diversity and equity.”

The CMI Group was established in 1985 with a simple focus that relationships matter. Relationships are the fundamental bond between The CMI Group and our owner-employees. Additionally, we believe that relationships are the trust between The CMI Group and our clients. Learn about working with The CMI Group by touring our Contact Center of Excellence.

About The CMI Group, Inc.

The CMI Group, a leader in contact center support services, accounts receivable management, customer care, revenue cycle management, and omnichannel communications, is a 100% employee-owned solutions provider to clients nationwide. Through its subsidiaries, The CMI Group delivers innovative business process outsourcing, revenue cycle, accounts receivable and contact center solutions resulting in enhanced operational efficiency and increased revenue for its clients. The CMI Group believes there is power in relationships and success occurs when individuals collaborate on a common objective. For The CMI Group, relationships matter because they lead to optimum results. Visit thecmigroup.com for more information.

The CMI Group and The CMI Group logo are trademarks of The CMI Group and/or its subsidiaries.

New Biography, A Banker’s Journey,
Explores the Remarkable Life of Edmond J. Safra, a Leading Figure in Finance, Banking, Religion, and Philanthropy in the 20th Century

 

A Banker’s Journey: How Edmond J. Safra Built a Global Financial Empire

by Daniel Gross
ISBN-13: 9781635767858
Publisher: Radius Book Group
Publication date (USA): 08/30/2022
$34.99 hardcover
Pages: 352
Photographs: 16 page color insert
www.abankersjourney.com

“Daniel Gross’s graceful and factual recounting of the life of the great banker and philanthropist Edmond Safra is a joy to read, and inspiring.”

—PEGGY NOONAN, The Wall Street Journal

 

“Edmond J. Safra’s remarkable story comes alive through the extensive research of Daniel Gross. Safra’s banking success made him a public figure, but his generosity, dignity, and integrity are what A Banker’s Journey masterfully showcases as the qualities by which he will be remembered.”

—BRYAN BURROUGH, Co-author of Barbarians at the Gate

Who was Edmond J. Safra? “The greatest banker of his generation,” in the estimation of a former World Bank President. The founder of four massive financial institutions on three continents, and a proud child of Beirut’s Jewish quarter. An innovative avatar of financial globalization, and a faithful heir to a tradition of old-world banking. The leading champion and protector of the Sephardic diaspora.

In A Banker’s Journey, financial journalist and historian Daniel Gross, who, like Safra, traces his heritage to Aleppo, Syria, reconstructs the public life of an intensely private man. With exclusive access to Safra’s personal archives, Gross tracks the banker’s remarkable journey from Beirut to Milan, São Paulo, Geneva, and New York—to the pinnacle of global finance.

Edmond Safra was fifteen in 1947, when his father sent him to establish a presence in Milan, Italy.  Fluent in six languages, and with an eye for value, managing risk, and personal potential, Safra was in perpetual motion until his tragic death in 1999. The modern, global financial empire he built was based on timeless principles: a banker must protect his depositors and avoid excessive leverage and risk. In an age of busts and bailouts, Safra posted remarkable returns while rarely suffering a credit loss.

From a young age, Safra assumed the mantle of leadership in the Syrian-Lebanese Jewish community, providing personal aid, supporting the communities that formed in exile, and championing Sephardic religious and educational efforts in Israel and around the world.

Edmond J. Safra’s life of achievement in the twentieth century offers enduring lessons for those seeking to make their way in the twenty-first century. He inspired generations to make the world a better place.

 

ABOUT THE AUTHOR: 

Daniel Gross is one of the most widely-read writers on finance, economics, and business history. Over the past three decades, he has reported from more than thirty countries, covering everything from the dotcom boom to the global financial crisis and the Great Recession of 2008–2009.

Gross worked as a reporter at The New Republic and Bloomberg News, wrote the “Economic View” column in The New York Times, and served as Slate’s “Moneybox” columnist. At Newsweek, where he was a columnist and correspondent, he authored seven cover stories. He is a bestselling author of eight books, including Forbes Greatest Business Stories of All Time; Generations of Corning; Dumb Money: How America’s Greatest Financial Minds Bankrupted the Nation; and Better, Stronger, Faster: The Myth of American Decline and the Rise of a New Economy.

Gross was educated at Cornell University and holds an M.A. in American history from Harvard University. His great-grandparents immigrated to the United States from Aleppo and Damascus.

WATCH:

Extraordinary pre-publication praise from giants of finance, philanthropy, and the international Jewish community for a new biography of Edmond J. Safra:

Anyone who knew my treasured friend Edmond Safra was keenly aware that he was a remarkable person: thoughtful, welcoming, intelligent. With this definitive account of his life, a broader audience can marvel at his accomplishments, remember his enduring contributions, and carry forward the lessons of a life lived with purpose and humility.

—Elton John

 

Most readers will know Edmond J. Safra as a towering banker who helped define the modern economic era. Daniel Gross’ vibrant account will make them aware of Safra’s open-handed humanitarian instinct that stood in equal measure to his financial genius — an instinct that continues “repairing the world” to this day. His legacy of a deep and boundless commitment to family, faith and generosity holds timeless lessons for us all, no matter what journey we find ourselves on. Absorbing, highly recommended reading.

—Michael J. Fox

 

Edmond Safra’s extraordinary life is one of the most fascinating stories in modern finance, but the story runs much deeper than his legendary success. A Banker’s Journey captures the fullness of a man whose mind for business and appetite for adventure was matched only by his heart for giving and sense of responsibility to others. His impact continues to be felt, and now the inspiring lessons from his life will reach an even wider audience.

—Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies and Mayor of New York City, 2002-2013

 

Edmond Safra was a giant in the world of international finance. He was a true financial pioneer, and learning from him helped guide me as I was building my career. There is a lot to learn from reading his biography for anyone interested in finance, whether you are just starting out, or steeped in the profession.

—Henry Kravis, Co-Founder and Co-Executive Chairman, KKR

In the life of Edmond Safra, we see the brilliance, the creativity and, most of all, the resilience of the Jewish people throughout time. Faced with obstacle after obstacle including displacement, prejudice and more, my friend, Edmond, not only survived, but excelled – beyond the dreams of most people. This is an extraordinary book about an extraordinary man. Now, future generations will learn about Edmond, especially at a time when his form of integrity seems to be in short supply.

—Ronald S. Lauder, President, World Jewish Congress

 

Commercial banking was Edmond’s heritage and his consuming passion. At an age when most of us were thinking about what college we’d like to enter, he was sent out pretty much on his own to explore business opportunities in both Europe and America. He built his banks, made his money, and, not so incidentally, established his name the old-fashioned way. But when it came to a decision, Edmond could match any modern entrepreneur. Through it all, Edmond was strongly motivated by a more personal responsibility that couldn’t be counted in numbers.

—Paul Volcker, Chair of the Federal Reserve (1979-1987)

 

Edmond Safra was a remarkable leader, builder, dreamer, philanthropist, and financial services executive. I was honored to know him and work closely with him for two decades. From the moment I picked up Daniel Gross’s book, I literally, and I say literally, could not put it down. It was a fantastic journey through an incredible life. Edmond always put his company, employees, and depositors first. He cared deeply about this ‘extended family,’ and he always had their backs. Edmond was also very philanthropic, as he supported a number of religious organizations. For any aspiring business or community leader, this book is a must read. Edmond was one of the most talented leaders I have ever been around, and our world is a much better place because of him.

—Sandy Weill, Former Chairman and CEO of Citigroup

 

This is an extraordinary book about a remarkable man. Edmond J. Safra may be best known as an immensely successful global financier, but he was a person of many significant qualities: devoted to his family, his faith, and to the deep value of education for individuals from many backgrounds. He gave generously to several universities, and the story of his life is now told in an exceptional way, with fine scholarly detail that makes vivid all the humane aspects of this exceptional human being.

—Neil L. Rudenstine, President Emeritus, Harvard University

Upon meeting Edmond Safra for the first time fifty years ago I was immediately struck by his complete and total dedication to the safety and security of his bank’s depositors and also by his deep and sincere admiration of America as a land of opportunity. Although many consider him to have been the greatest banker of the 20th century, he never lost his sense of modesty nor his belief that success must be built upon trustworthiness and compassion. This is a book that must be read.

—Arthur Levitt Jr., Chairman of the Securities and Exchange Commission (1993-2001)

 

Edmond Safra was truly unique, founding four banks on three continents – all of them successful. To start Republic National Bank of New York and grow it into a thriving institution in one of the world’s most competitive markets was an extraordinary achievement, and he repeated this success again and again around the world. He was the rare combination of conservative banker and brilliant, thoughtful risk-taker. Edmond cared deeply for his staff and his clients, and, perhaps above all, he changed the lives of millions of people through the help he gave to schools, hospitals, and other causes. He was inspirational and an example to us all, and I am delighted that his story is finally being told.

—Sir John Bond, Group Chairman HSBC Holdings (1998-2006)

 

The lessons to be learned from following Edmond Safra’s career are remarkable. He shaped a generation of young, serious, and brilliant bankers, and this book is a can’t-miss for those who are entering the banking world.

—Leonard A. Lauder, Chairman Emeritus, The Estée Lauder Companies Inc.

 

Edmond Safra’s life and career were unique in many ways. A daring entrepreneur and successful banker, he created an innovative, prosperous, and respected financial network around the world. An aesthete, collector, and great patron of the arts, he had an inexhaustible curiosity that embraced many areas. As a philanthropist, he left his mark on the 20^th century by actively committing himself to numerous causes with faith, attention, and discipline. I am delighted that Daniel Gross’s biography goes through the different stages of Edmond’s rich life and pays tribute to an extraordinary man.

—François Pinault

 

“He is like a tree planted beside the streams of water which yields its fruit in season whose leaves shall not fade. In all that he does he prospers.” These words from Psalm 1:3, carved in stone at Somerset House, are displayed in honour of Edmond. His philanthropy to many institutions and good causes across the world were achieved by this modest, sensitive and extraordinary man, “primus inter pares” in the generation of Sephardic Jews who left the Middle East after the Second World War, to establish themselves with immense success in the wider world as men of business.

Edmond used his exceptional talents to create and build banking businesses which spanned more than thirty countries across the globe; in addition, he inherited from his parents a sense of duty and obligation to the Jewish community who were to him an extended family. The range of support he gave to his people and the wide range of institutions is beyond belief – and at the same time, in addition to his commercial success and his prodigious generosity, he was able, helped at all times by his wife Lily, to become a connoisseur and collector of fine arts of extraordinary quality.

It is timely that a book is now being published to describe the achievements of this brilliant man whose personality and character touched all of us who were fortunate enough to have known and admired him. Edmond’s remarkable life will now be recorded and celebrated by future generations. The sadness is of a life tragically lost to us at too young an age, but this book will enable us to make the life of Edmond imperishable in our memory. It is a remarkable story which will be an example to us all.

—Lord Rothschild (Jacob)

“To my husband who has given me so much, his devotion to our grandchildren, his presence at all times, not only for me and them but for so many others, a father to his brothers and sisters, a loyal friend to so many throughout the world, together, we try to keep our heads high to fight for life and hope, to fight the battles in the name of justice. May our almost seven grandchildren achieve in their lives the values and ideals that you have taught them. You fulfill the essence of a human being. You are kind, decent, a man with no vanity, a humble man. Thank you, Edmond, for sharing these years with me.”

 —Lily Safra, (December 30, 1934—July 9, 2022)

Available at: Amazon,  Barnes & Noble and  Bookshop.org

 

SUBJECTS: Banking, Biography, Book News, Book Publishing, Book Review, Business and Personal Finance,  Features, Human Interest, Judaism, Philanthropy, Public Affairs

 

Advanced technologies and a modern intuitive design deliver unparalleled data-driven legal insights, while enhancing the user experience

TORONTO, August 15, 2022 – LexisNexis^® Legal & Professional, a leading global provider of legal information and analytics, today announced the official launch of our latest innovative product, Lexis+^™ Canada.

Lexis+ Canada is the most complete collection of legal information including legal research, practical guidance, analytical tools, brief analysis, and bill tracking capabilities – all packaged in a modern user experience to deliver greater efficiency and better outcomes.

This next generation product provides access to the comprehensive collection of LexisNexis primary law information, including the most complete collection of courts and administrative decisions, Quantums, Case Digests, Case Citators and current awareness sources.

Additionally, Lexis+ Canada gives access to Halsbury’s Laws of Canada, the only up-to-date national legal encyclopedia. Lexis+ Canada also includes LexisNexis Online Research Service, with over 490 full-text textbooks and looseleaf publications in more than 30 different areas of law – unmatched in the Canadian market.

An improved user experience is also evident as the simplified design will set a new standard in ease of use. Striking imagery, bold colors and typography improve readability, reduce visual “clutter”, and emphasize essential information and tasks.

Lexis+ Canada also delivers enhanced functionality. The new “Experience Dock” creates an integrated starting point for core legal tasks and enables seamless switching between product experiences and workflows. New and intuitive features, such as Brief Analysis and Boolean Search Tree make it easy for practitioners to access the information and insights they need, control their search experience, and provide better counsel.

Overall, Lexis+ Canada was built around the user experience, creating a workflow-centered solution. By seamlessly integrating multiple tools in one interface, Lexis+ Canada allows our customers to work with more focus, while removing the obstacles of switching between multiple platforms.

“The introduction of Lexis+ Canada represents a significant milestone in our strategy to deliver legal solutions that improve lawyers’ productivity, workflow, and their ability to deliver timely and strategic counsel,” said Eric J. Wright, CEO, LexisNexis Canada.

Based on extensive customer feedback, Lexis+ Canada addresses the specific needs of legal professionals in all segments, industries, and areas of practice with key features including:

• Brief Analysis: Extracts citations and legal concepts, recommends other relevant cases, identifies relevant passages, and takes users directly to the document where they are found — all within a unique, dashboard.
• Practical Guidance: Fully integrated practical guidance including practice notes, precedents, checklists, drafting tools and industry insights from leading practitioners easily accessible in experience dock and within legal research results.
• Lexis Answers: Responds to natural language search queries with the best, most relevant answer.
• Legislative Pulse: Integrated bill tracking experience that provides users with one convenient location to obtain information on the progress of bills in the federal and provincial legislatures.
• Enhanced search capabilitiesthat give practitioners more control over their research experience, including:
• Boolean Search Tree: Graphically depicts Boolean searches and highlights the impact of each keyword on search results, enabling users to refine searches for the best results.
• Search Term Maps: Visually depicts clusters of search terms within search results and documents across major content types for fast, easy navigation, trend identification and direct access to relevant information.

“Lexis+ Canada is the result of extensive customer feedback and workflow analysis” said Jeff Pfeifer, Chief Product Officer, LexisNexis North America, UK and Ireland. “Users told us they wanted a solution that improves the quality of their research, speeds the delivery of insights and is easy to use.  Lexis+ Canada leverages cutting-edge technology, modern design elements and advanced data visualization to improve research outcomes for lawyers in Canada.”

“We are proud to launch a world class product that allows lawyers to answer legal questions, apply legal strategy, and accomplish legal tasks, all in one dynamic new place that sets a precedent in simplicity.” said Alan Votary, Head of Product Canada. “This innovative solution will deliver increased efficiency and confidence for our customers, as it addresses the unique needs of their business.”

Lexis+ Canada is the latest global offering in the Lexis+ family, complimenting earlier Lexis+ releases in the U.S. and the U.K.  LexisNexis continues to expand Lexis+ with additional country releases planned in the coming months.

For more information, visit Lexis+ Canada.  

Notes for editors

• To request a product demonstration, please reach out to our media contact below.
• Jeff Pfeifer and Alan Votary are available for interview.

About LexisNexis Legal & Professional

LexisNexis^® Legal & Professional provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis^®> and Nexis^® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 10,500 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.