NFL legend Emmitt Smith got his first job at 12 working as ‘the utility guy’ at a nursing home

When Emmitt Smith was 12, he really wanted a pair of Jordache jeans. When he asked his mom if she’d buy them, she said she couldn’t afford to, but recommended he start working and pay for them himself. “I was the utility guy,” added Smith, whose mom also worked at the nursing home. “He taught me about finances with a simple statement,” Smith recalled in an interview with CNBC. “He always said, ‘Have a big front door and a small back door.


When Emmitt Smith was 12, he really wanted a pair of Jordache jeans.
When he asked his mom if she’d buy them, she said she couldn’t afford to, but recommended he start working and pay for them himself.
“I was the utility guy,” added Smith, whose mom also worked at the nursing home.
“He taught me about finances with a simple statement,” Smith recalled in an interview with CNBC.
“He always said, ‘Have a big front door and a small back door.
NFL legend Emmitt Smith got his first job at 12 working as ‘the utility guy’ at a nursing home Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: kathleen elkins
Keywords: news, cnbc, companies, working, job, legend, emmitt, mom, smith, worked, good, nfl, dallas, door, signing, jeans, money, guy, utility, nursing


NFL legend Emmitt Smith got his first job at 12 working as 'the utility guy' at a nursing home

When Emmitt Smith was 12, he really wanted a pair of Jordache jeans. When he asked his mom if she’d buy them, she said she couldn’t afford to, but recommended he start working and pay for them himself.

“So I got my first job at Magnolia Nursing Home, mopping floors, taking out the elderly people’s stuff, making up beds, trimming the hedges, raking the yard,” the former NFL superstar told Maverick Carter on an episode of Uninterrupted’s “Kneading Dough.”

“I was the utility guy,” added Smith, whose mom also worked at the nursing home. His dad worked as a city bus driver.

He saved everything he earned that summer, but he didn’t end up buying the jeans. “One of the most beautiful things I learned through that whole process was, my mom asked me to borrow some money — and I was able to give it to her,” recalls Smith. “I loaned her a couple hundred dollars, and it felt good to give it to her. It helped me understand that, wow, that’s a good feeling.”

Less than a decade later, Smith was drafted by the Dallas Cowboys and at 20 started earning a much larger paycheck: His signing bonus made him a millionaire overnight. He went on to win three Super Bowls, earn millions more and become the highest-paid running back at the time, after signing a four-year, $13.6 million deal in 1993.

While Smith is the first to admit that he made a few “‘youthful’ financial decisions,” including buying a $100,000 convertible his rookie year, the Hall of Famer also picked up some valuable lessons during his lucrative, 15-season career.

It was Dallas Cowboys owner Jerry Jones who gave him the best money advice. “He taught me about finances with a simple statement,” Smith recalled in an interview with CNBC. “He always said, ‘Have a big front door and a small back door. Take in as much as you can and spend as little as you can.'”


Company: cnbc, Activity: cnbc, Date: 2019-12-13  Authors: kathleen elkins
Keywords: news, cnbc, companies, working, job, legend, emmitt, mom, smith, worked, good, nfl, dallas, door, signing, jeans, money, guy, utility, nursing


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Former Boeing manager says he warned company of problems prior to 737 crashes

Crewman tow in a Boeing Max 737 jet after landing at King County International Airport in Seattle, Washington, on Friday, Jan. 29, 2016. On March 10, 2019, a 737 Max crashed in Ethiopia, killing all 157 people aboard the Ethiopian Airlines flight. No conclusive evidence has emerged linking the crashes to the problems Pierson said he observed at the Boeing plant in Washington. The FAA ordered a temporary grounding of the 737 Max three days after the crash of Ethiopian Airlines Flight 302. Using p


Crewman tow in a Boeing Max 737 jet after landing at King County International Airport in Seattle, Washington, on Friday, Jan. 29, 2016.
On March 10, 2019, a 737 Max crashed in Ethiopia, killing all 157 people aboard the Ethiopian Airlines flight.
No conclusive evidence has emerged linking the crashes to the problems Pierson said he observed at the Boeing plant in Washington.
The FAA ordered a temporary grounding of the 737 Max three days after the crash of Ethiopian Airlines Flight 302.
Using p
Former Boeing manager says he warned company of problems prior to 737 crashes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: cynthia mcfadden, anna schecter, kevin monahan, rich schapiro
Keywords: news, cnbc, companies, nbc, crashes, worked, letter, max, manager, boeing, company, 737, problems, plant, prior, planes, production, pierson, warned


Former Boeing manager says he warned company of problems prior to 737 crashes

Crewman tow in a Boeing Max 737 jet after landing at King County International Airport in Seattle, Washington, on Friday, Jan. 29, 2016.

Speaking out for the first time, a former Boeing manager says he warned the company about problems at its main factory in Washington state in the months before two of its 737 Max airplanes crashed in separate incidents that claimed the lives of nearly 350 people.

The manager, Ed Pierson, spoke to NBC News in an exclusive television interview two days before he’s set to appear before Congress to detail his efforts to sound the alarm over the conditions at the Boeing plant in Renton, where he says a push to increase production of the 737 Max planes created a “factory in chaos.”

From the summer of 2018 to the spring of 2019, Pierson implored Boeing executives and then the FAA and NTSB to look into the conditions at the plant in Washington, according to emails obtained by NBC News.

“Frankly right now all my internal warning bells are going off,” Pierson said in an email to Scott Campbell, the general manager of the 737 Max program, on June 9, 2018. “And for the first time in my life, I’m sorry to say that I’m hesitant about putting my family on a Boeing airplane.”

Pierson offered a recommendation huge in scope and consequences: shut down the production line for a limited amount of time. He believed the workers needed a more stable environment to finish building the planes already in progress.

The advice to shutdown production went unheeded. Four months later, a 737 Max built at the Renton plant plunged into the sea near Indonesia. All 189 people aboard the Lion Air flight were killed in the October 2018 crash.

“I cried a lot,” Pierson told NBC News. “I’m mad at myself because I felt like I could have done more.”

Pierson kept up his efforts to draw attention to the plant in the aftermath of the Lion Air crash. He wrote emails to Boeing CEO Dennis Muilenburg and spoke with the company’s general counsel. Dissatisfied by the responses, he wrote to the Boeing board of directors on February 19, 2019.

“I have no interest in scaring the public of wasting anyone’s time,” Pierson wrote. “I also don’t want to wake up one morning and hear about another tragedy and have personal regrets.”

Tragedy struck again 19 days later. On March 10, 2019, a 737 Max crashed in Ethiopia, killing all 157 people aboard the Ethiopian Airlines flight.

“This was a last resort,” Pierson told NBC News, referring to his decision to speak to the media. “I really had hoped that by providing information to the right people, and following the protocols and the chain of command every step of the way, I thought people would do their job.”

“I didn’t expect to get this far,” added Pierson, a Navy veteran who worked at Boeing for eight years. “But I don’t think I have any choice.”

No conclusive evidence has emerged linking the crashes to the problems Pierson said he observed at the Boeing plant in Washington. Boeing has acknowledged that the planes’ anti-stall software system contributed to both crashes.

But Pierson’s efforts to sound the alarm, which have not been previously disclosed in detail, add fresh questions to the inquiry into whether Boeing was reckless in its push to roll out the doomed 737 Max planes.

The planes have been grounded amid the ongoing investigations.

In a statement, Boeing defended its handling of Pierson’s attempts to draw attention to the plant, saying his concerns “received scrutiny at the highest levels of the company.”

“Although Mr. Pierson did not provide specific information or detail about any particular defect or quality issue, Boeing took his concerns about 737 production disruption seriously,” Boeing said.

But Boeing stressed that it has no reason to believe issues at the factory played any role in the crashes.

“Importantly, the suggestion by Mr. Pierson of a link between his concerns and the recent MAX accidents is completely unfounded,” it said. “Mr. Pierson raises issues about the production of the 737 MAX, yet none of the authorities investigating these accidents have found that production conditions in the 737 factory contributed in any way to these accidents.”

A former Navy squad commander, Pierson joined the team producing the 737 Max planes in April 2015. By then, Boeing was already under the gun.

The aircraft maker’s chief competitor, Airbus, had gotten a head start on its new class of planes designed to use less fuel and cost less to operate.

Pierson said he first noticed signs of trouble in the plant in late 2017. Boeing was pushing to increase the production of 737 airplanes at Renton from 47 to 52.

More planes mean more parts, and some of Boeing’s suppliers began struggling to meet the demand, Pierson said.

The delay in parts caused a slowdown in production that had to be made up. But the Renton plant didn’t have the manpower, Pierson said.

As a result, overtime hours piled up. Pierson said workers were putting in consecutive 50 to 60-hour work weeks without taking days off. “I know people that worked more than five weeks in a row,” Pierson said, adding that he heard reports of some employees going eight weeks without a day off.

The supply chain delays, coupled with the tremendous time pressures, led to increasing amounts of what’s known as out-of-sequence work, Pierson said. Airplanes are marvels of design and engineering. Every part serves a specific purpose and every plane is supposed to be assembled according to a specific plan.

But at the Boeing plant in Renton, Pierson said, some of the steps were being performed at places and times different than the initial plans. He grew increasingly concerned that a corner might be cut or a crucial step overlooked.

“For the airplane, you want to build it a certain way,” said Pierson. “I don’t know of any work that’s more detailed.”

He likened out of sequence work to building a house and deciding after the floors were put down to rip them up to finish electrical and plumbing work.

Pierson said the problems were compounded by other management decisions that he said prioritized speed over safety.

Company executives canceled the daily meetings among individual teams that Pierson considered crucial to information sharing between shifts, he said. Boeing leadership replaced these “tiered” meetings with a larger meeting in which managers were often put on the spot to answer why they weren’t hitting production goals.

By May of 2018, the situation was spiraling out of control, Pierson said. No matter how many hours people worked, they struggled to keep up with the push to complete more than 50 airplanes a month.

“It just became full speed out of control,” Pierson said. “The sheer volume was just overwhelming.”

Pierson wrote the email to Campbell a month later.

The pair also spoke in person. During the meeting on July 18, Pierson said he ticked off a series of problems at the plant and repeated his position that it should be shut down for a limited window of time.

Pierson said Campbell insisted that wasn’t possible. “I kind of got mad and said, ‘You know, I’ve seen military operations shut down for a lot less safety concerns,'” Pierson recalled.

Pierson said he was stunned by Campbell’s reply. “He said, ‘Well, the military’s not a profit-making enterprise,'” Pierson said.

Campbell, who has since retired, could not be reached for comment.

Alarmed by his experience, Pierson decided to retire in August 2018. “I felt like I was abandoning the Titanic,” he said.

Lion Air went down near Indonesia two months later. “As soon as I heard it was a Max, my stomach just dropped,” Pierson said. “I knew a Max is a plane that’s only been in service for a year or so. And I knew it had to be made some time in that timeframe.”

Pierson said he was lying in bed when he heard the news that a second Boeing 737 Max went down in Ethiopia in March 2019. “I actually screamed and my wife woke up,” he said. “I just couldn’t believe it.”

Just three weeks earlier, he had written to the Boeing board of directors imploring them to take action and saying he didn’t want to wake up one morning to the news of another crash.

The FAA ordered a temporary grounding of the 737 Max three days after the crash of Ethiopian Airlines Flight 302.

Pierson, meanwhile, kept up his efforts to sound the alarm over the plant in Washington. After months of communications and what he described as “bureaucratic inaction and unexplainable delays,” an NTSB investigator finally contacted him.

Pierson described his concerns about how problems at the plant could have contributed to the crashes. He followed up with a letter outlining his concerns.

But the NTSB ultimately sent a letter stating it wasn’t going to look into the plant. “Your client’s concerns fall outside the scope of the NTSB’s role in the 737 Max accident investigations,” the letter said.

Using public databases, Pierson identified 13 other safety incidents involving 737 Max planes produced at the factory during his time there. Pierson’s lawyer, XX, laid these out in a letter to the FAA this past September.

“The flying public is completely unaware of these other incidents,” the letter said.

In a statement to NBC News, the FAA said it “takes all whistleblower complaints seriously.”

“Our team has interacted on several occasions with Mr. Pierson and his attorneys about his allegations,” it said.

It pointed to a letter sent to Pierson on Nov. 25. “Your request to refer the information to the Indonesian and Ethiopian Investigators-in-Charge is appropriately directed to the NTSB, which leads the U.S. government’s involvement in those accident investigations and manages the U.S. government’s contact with the Ethiopian and Indonesian investigative authorities,” the letter said.

Investigators looking into the causes of the twin crashes have zeroed in on automated system, known as MCAS, that pushes the plane’s nose down if the software senses it is going into a stall.

Crash investigators have said the system was triggered by bad data from the sensors.

In response, Boeing has worked to upgrade the system.

But Pierson says he’s troubled by the focus on the design failure of the MCAS system.

“MCAS is a system designed to correct flight anomalies when they occur,” Pierson plans to tell the House transportation and infrastructure committee, according to a draft statement obtained by NBC News. “It was not the first failure event that led to those crashes.”

In his interview, Pierson stressed that he’s not a disgruntled employee bent on bringing down Boeing. “I’m thrilled to have worked at Boeing,” Pierson said.

He’s speaking out in the hope that Boeing and the agencies investigating the crashes take a hard look at the conditions in the factory where he worked to potentially stave off another tragedy.

“I really figured that somebody would stop and we would resolve this,” Pierson said. “I rang every alarm bell that I could.”


Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: cynthia mcfadden, anna schecter, kevin monahan, rich schapiro
Keywords: news, cnbc, companies, nbc, crashes, worked, letter, max, manager, boeing, company, 737, problems, plant, prior, planes, production, pierson, warned


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This is Tom Brady’s actual resume from 2000—before he knew he’d make it in the NFL

Perhaps that why a then 22-year-old Brady put together a resume listing his summer internships at Merrill Lynch and odd jobs he had in school. Tom Brady had been determined to become a professional football player since his childhood days idolizing quarterback Joe Montana. Brady’s old resume lists that he was a summer intern assisting a senior sales broker in 1998 and 1999 at Merrill Lynch in Ann Arbor, Michigan. Brady’s boss at Merrill Lynch, Oliver Owens, said Brady stood out as intern. Now 42


Perhaps that why a then 22-year-old Brady put together a resume listing his summer internships at Merrill Lynch and odd jobs he had in school.
Tom Brady had been determined to become a professional football player since his childhood days idolizing quarterback Joe Montana.
Brady’s old resume lists that he was a summer intern assisting a senior sales broker in 1998 and 1999 at Merrill Lynch in Ann Arbor, Michigan.
Brady’s boss at Merrill Lynch, Oliver Owens, said Brady stood out as intern.
Now 42
This is Tom Brady’s actual resume from 2000—before he knew he’d make it in the NFL Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: jade scipioni
Keywords: news, cnbc, companies, knew, university, worked, hed, lynch, know, 2000before, summer, merrill, resume, bradys, nfl, brady, michigan, tom, actual


This is Tom Brady's actual resume from 2000—before he knew he'd make it in the NFL

“Found my old resume! Really thought I was going to need this after the 5th round,” Brady posted on Facebook in 2014 , referring to the fact that the New England Patriots did not choose him until their sixth-round pick in the 2000 NFL draft. (Brady was the 199th overall pick that year.)

Perhaps that why a then 22-year-old Brady put together a resume listing his summer internships at Merrill Lynch and odd jobs he had in school. You never know when you’ll need a backup plan.

Tom Brady had been determined to become a professional football player since his childhood days idolizing quarterback Joe Montana. After graduating from the University of Michigan in 1999, he dreamed of playing in the NFL, but Brady has said he “struggled” in college and was “never the first guy chosen” as a young athlete.

Brady’s old resume lists that he was a summer intern assisting a senior sales broker in 1998 and 1999 at Merrill Lynch in Ann Arbor, Michigan. There he was exposed to “upper-level” management and company strategy,” researched stock and mutual fund reports, updated client portfolios and gained knowledge of broker activity and day-to-day administrative duties, he wrote.

Brady’s boss at Merrill Lynch, Oliver Owens, said Brady stood out as intern. “He worked hard,” Owens told Fox News in 2017. “You know, he never complained. He was always on time. He never left early. You know, just had a great attitude.”

While interning at Lynch, Brady also worked as a sales representative at two golf courses (one at a country club in Jackson, Michigan and the other at the University of Michigan), according to the resume. The experience helped Brady develop interpersonal skills and “exemplified flexibility,” he wrote.

Brady listed other odd jobs, including working as a park service manager at Ann Arbor Summer Festival in 1996, where he supervised park security, receiving “hands-on experience in customer contact areas,” he wrote, as well as handling inventory.

As for school, Brady took business and psychology courses and received a Bachelor’s degree in General Studies, finishing with 3.3 GPA.

Of course, Brady never needed to apply for a day job.

Now 42, Brady is currently the third-oldest player in the NFL with 20 seasons under his belt. He has led the Patriots to six Super Bowl wins and is widely regarded as the GOAT (aka, greatest of all time) when it comes to quarterbacks, though it’s a title that Brady said actually makes him “cringe.”

Like this story? Like CNBC Make It on Facebook.

Don’t miss:

What NFL star Tom Brady eats and drinks before a big game

In 1996, a fired Bill Belichick approached Cowboys owner Jerry Jones in a checkout line to ask about a job


Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: jade scipioni
Keywords: news, cnbc, companies, knew, university, worked, hed, lynch, know, 2000before, summer, merrill, resume, bradys, nfl, brady, michigan, tom, actual


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Peloton’s holiday ad made some onlookers cringe, but it won’t hurt the brand

Peloton holiday ad. YouTubePeloton, the maker of high-end at-home fitness equipment, is getting criticized for a new holiday ad that implores viewers to “give the gift of Peloton.” But the flap probably won’t hurt the company, despite some onlookers complaining about what they saw as undertones of sexism and classism in the ad. The woman in the ad remarks she didn’t realize “how much this would change [her].” The ad has 15- and 30-second versions running across networks including Fox, NBC and ES


Peloton holiday ad.
YouTubePeloton, the maker of high-end at-home fitness equipment, is getting criticized for a new holiday ad that implores viewers to “give the gift of Peloton.”
But the flap probably won’t hurt the company, despite some onlookers complaining about what they saw as undertones of sexism and classism in the ad.
The woman in the ad remarks she didn’t realize “how much this would change [her].”
The ad has 15- and 30-second versions running across networks including Fox, NBC and ES
Peloton’s holiday ad made some onlookers cringe, but it won’t hurt the brand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: megan graham
Keywords: news, cnbc, companies, hurt, brand, wont, gift, onlookers, woman, didnt, cringe, holiday, pelotons, peloton, worked, commented, company


Peloton's holiday ad made some onlookers cringe, but it won't hurt the brand

Peloton holiday ad. YouTube

Peloton, the maker of high-end at-home fitness equipment, is getting criticized for a new holiday ad that implores viewers to “give the gift of Peloton.” But the flap probably won’t hurt the company, despite some onlookers complaining about what they saw as undertones of sexism and classism in the ad. Indeed, Peloton’s stock rose 4.6% on the Monday after the Thanksgiving weekend, when much of the criticism surfaced, and is up more than 25% since the stock’s September debut. In the ad, a woman receives a Peloton as a Christmas gift from her husband, then documents her usage of the bike, which costs $2,245 with a monthly $39 membership fee to access classes. The woman in the ad remarks she didn’t realize “how much this would change [her].”

According to iSpot.tv, the ad first ran November 4 and has run more than 6,800 times, accounting for an estimated $13.5 million in TV spend. The ad has 15- and 30-second versions running across networks including Fox, NBC and ESPN 2. On social media, some commented that the woman’s “before” and “after” looks were identical, or remarked that it was strange that a spouse seemed to be pressuring his partner with the gift to lose weight. Some commented on how nervous and unhappy the woman seemed to be while documenting her workouts. Others said the ad was just too over-the-top aspirational given the setting of the home. About two years ago, the company said it intended to shift its branding from targeting an affluent audience to include a wider range of consumers who might be willing to splurge, the Wall Street Journal reported in 2017. But the company was mocked earlier in the year in a viral tweet thread that poked fun at some of its ads, which showed Peloton’s bikes in what appeared to be outrageously expensive homes. Peloton declined to make anyone available for an interview or provide a comment. Advertising agency Mekanism, which has worked with Peloton in the past, had another spot with the “Give the Gift of Peloton” tagline on its website, but didn’t respond to a request for comment on whether it worked on this particular spot.

A die-hard fanbase


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: megan graham
Keywords: news, cnbc, companies, hurt, brand, wont, gift, onlookers, woman, didnt, cringe, holiday, pelotons, peloton, worked, commented, company


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A small tech company tried it all to stop employee turnover. Only one thing worked

We have always been an employee-focused company that has done everything in our power to hold on to our employees, building what I thought was a great culture. Beer on tap, dogs in the office, unlimited paid time off and, ultimately, an employee stock ownership plan, where I gave 40% of the company to the employees. LinkedIn has found that the technology industry has the highest turnover of any industry, at 13.2%, with our field, IT, averaging 13%. We were a 30-person company at the time, and wh


We have always been an employee-focused company that has done everything in our power to hold on to our employees, building what I thought was a great culture.
Beer on tap, dogs in the office, unlimited paid time off and, ultimately, an employee stock ownership plan, where I gave 40% of the company to the employees.
LinkedIn has found that the technology industry has the highest turnover of any industry, at 13.2%, with our field, IT, averaging 13%.
We were a 30-person company at the time, and wh
A small tech company tried it all to stop employee turnover. Only one thing worked Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: delcie d bean iv, chief executive officer of paragus
Keywords: news, cnbc, companies, thing, industry, field, raising, tried, turnover, stop, high, company, employees, internal, tech, pay, employee, felt, worked, small


A small tech company tried it all to stop employee turnover. Only one thing worked

Most companies don’t like to admit they have any turnover. For years I didn’t, either. We have always been an employee-focused company that has done everything in our power to hold on to our employees, building what I thought was a great culture. Beer on tap, dogs in the office, unlimited paid time off and, ultimately, an employee stock ownership plan, where I gave 40% of the company to the employees. It felt like this effort was wasted if people left.

Still, our efforts weren’t stopping people from leaving. Similar to many companies in our field, we were losing 10% to 15% of our team every year. LinkedIn has found that the technology industry has the highest turnover of any industry, at 13.2%, with our field, IT, averaging 13%.

Because we’re in IT, we tend to attract younger workers who’ve grown up in a digital world. Some eventually discover that IT isn’t their true calling and decide to try another field. Some work for us for a few years before going back to school. And frankly, some leverage their experience with us to land an internal IT job with a much bigger employer who can pay them more.

When our employees started mentioning that it seemed I was announcing someone’s departure every other week on our company’s internal video podcast, I realized I had to do something to address their concern. We were a 30-person company at the time, and when someone left, I could see it felt personal to our entire team.

We were so concerned about how employees viewed their colleagues’ departures that we held a town hall with our employees about the situation in order to hear their thoughts and ideas. The most obvious fix — raising salaries so high no one would ever want to leave — was not possible. We were competing with giant firms that could afford to pay much more, and the market would never support us raising our rates as an outsourced supplier that high.


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: delcie d bean iv, chief executive officer of paragus
Keywords: news, cnbc, companies, thing, industry, field, raising, tried, turnover, stop, high, company, employees, internal, tech, pay, employee, felt, worked, small


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Meet the ‘financial detective’ who has saved NBA players from losing millions of dollars to fraud

As a lifelong sports enthusiast and Washington Wizards fan, Byrne started BrightLights after reading countless stories about athletes losing millions of dollars to schemes and con artists. The self-proclaimed “financial detective” previously worked as a financial advisor and became a financial regulator after the 2008 stock market crash. Now he combines the knowledge from both professions as a private consultant detecting fraud in the finances of top NBA players. While he can’t disclose the name


As a lifelong sports enthusiast and Washington Wizards fan, Byrne started BrightLights after reading countless stories about athletes losing millions of dollars to schemes and con artists.
The self-proclaimed “financial detective” previously worked as a financial advisor and became a financial regulator after the 2008 stock market crash.
Now he combines the knowledge from both professions as a private consultant detecting fraud in the finances of top NBA players.
While he can’t disclose the name
Meet the ‘financial detective’ who has saved NBA players from losing millions of dollars to fraud Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: robert exley jr
Keywords: news, cnbc, companies, youwhat, athletes, detective, players, millions, saved, report, halftime, nba, financial, young, dollars, losing, meet, fraud, byrne, worked


Meet the 'financial detective' who has saved NBA players from losing millions of dollars to fraud

Professional athletes lose a lot of money to fraud.

Research from Ernst & Young estimates the losses at almost $600 million from 2004 to 2018. And those are just the amounts publicly claimed by athletes.

David Byrne wants to help change that.

As a lifelong sports enthusiast and Washington Wizards fan, Byrne started BrightLights after reading countless stories about athletes losing millions of dollars to schemes and con artists.

The self-proclaimed “financial detective” previously worked as a financial advisor and became a financial regulator after the 2008 stock market crash. Now he combines the knowledge from both professions as a private consultant detecting fraud in the finances of top NBA players.

While he can’t disclose the names of his clients, he says they include top NBA rookies and veterans.

Check out what Byrne does, the red flags he looks for, and what he thinks you should do to protect your own investments.

More from Invest in You:

What hiring managers want to see in your social profile

The secret to getting your resume past the robot rejections

These people in their 30s are doing a simple thing to get rich

TUNE IN: To CNBC’s “Halftime Report” today, Tuesday at 12 p.m. ET, to watch David Byrne discuss ways to avoid investment fraud with Scott Wapner and the Halftime Report Traders.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.


Company: cnbc, Activity: cnbc, Date: 2019-12-03  Authors: robert exley jr
Keywords: news, cnbc, companies, youwhat, athletes, detective, players, millions, saved, report, halftime, nba, financial, young, dollars, losing, meet, fraud, byrne, worked


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In 2019, almost every investment worked

The S&P 500 is up more than 25% and counting. Treasurys, which tend to fall when risk assets rally, also gained in 2019. For stock investors specifically, it was hard to guess wrong. A look at the S&P 500 companies’ internal performance shows only 64 names, or 12%, are down this year. All 11 S&P 500 sectors are ending the year with positive returns.


The S&P 500 is up more than 25% and counting.
Treasurys, which tend to fall when risk assets rally, also gained in 2019.
For stock investors specifically, it was hard to guess wrong.
A look at the S&P 500 companies’ internal performance shows only 64 names, or 12%, are down this year.
All 11 S&P 500 sectors are ending the year with positive returns.
In 2019, almost every investment worked Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: yun li
Keywords: news, cnbc, companies, sectors, investment, 500, rates, investors, 2019, stock, sheet, markets, corporate, worked, returns


In 2019, almost every investment worked

Traders work on the floor of the New York Stock Exchange Lucas Jackson | Reuters

This year is shaping up to be one of the best ever for investors of all stripes with nearly every single asset class on track to finish 2019 in the green. From stocks to government debt to corporate bonds to commodities, no matter where you went, you reaped a profit this year. The S&P 500 is up more than 25% and counting. Treasurys, which tend to fall when risk assets rally, also gained in 2019. Oil, gold and corporate bonds all scored double-digit returns. For stock investors specifically, it was hard to guess wrong. A look at the S&P 500 companies’ internal performance shows only 64 names, or 12%, are down this year. All 11 S&P 500 sectors are ending the year with positive returns. Tech is the biggest winner this year with a 41.5% gain. Communication services, industrials, financials, real estate, consumer sectors all skyrocketed more than 20% this year.

‘Buy everything’

It might seem a little too good to be true as the markets have been grappling with a handful of risks that are almost unprecedented — a costly trade war with China and a bid to impeach the president. But thanks to the Federal Reserve for coming to the rescue. The central bank pulled a 180, cutting rates three straight times this year. The Fed has also been pumping billions into the financial system after the mid-September tumult in very short-term lending markets. “We’ve gotten three rate cuts as we know and a dramatic rise in the size of their balance sheet in a very short period of time,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. The markets “see an expansion of the Fed’s balance sheet to the extent it’s grown and the only response is, it’s QE. Buy everything.” The stimulus has lowered interest rates, pushing all assets up at the same time.

Will the markets hold up?


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: yun li
Keywords: news, cnbc, companies, sectors, investment, 500, rates, investors, 2019, stock, sheet, markets, corporate, worked, returns


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Natural gas is one of the few trades that hasn’t worked on Wall Street, down 50% in 12 months

Pretty much every trade has worked on Wall Street this year except one: natural gas. Futures prices fell to a one-month low on Friday after plunging more than 12% for the week. The commodity is currently trading around $2.34 per million British thermal units, which is nearly 50% below where it traded a year earlier. For the week ending Nov. 12 bearish contracts outweighed bullish contracts by nearly 90,000, The Wall Street Journal said, using data from the Commodity Futures Trading Commission. F


Pretty much every trade has worked on Wall Street this year except one: natural gas.
Futures prices fell to a one-month low on Friday after plunging more than 12% for the week.
The commodity is currently trading around $2.34 per million British thermal units, which is nearly 50% below where it traded a year earlier.
For the week ending Nov. 12 bearish contracts outweighed bullish contracts by nearly 90,000, The Wall Street Journal said, using data from the Commodity Futures Trading Commission.
F
Natural gas is one of the few trades that hasn’t worked on Wall Street, down 50% in 12 months Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: pippa stevens
Keywords: news, cnbc, companies, winter, recent, week, natural, supply, months, worked, street, middle, volatility, weather, prices, trades, temperatures, wall, gas


Natural gas is one of the few trades that hasn't worked on Wall Street, down 50% in 12 months

Pretty much every trade has worked on Wall Street this year except one: natural gas.

Futures prices fell to a one-month low on Friday after plunging more than 12% for the week. The commodity is currently trading around $2.34 per million British thermal units, which is nearly 50% below where it traded a year earlier. It’s down 21% for 2019.

Excess supply is pressuring prices. Inventory built up last spring following a warmer-than-expected winter, and U.S. production has climbed to a record high, according to data from the U.S. Energy Information Administration.

A milder fall season is also having an impact on prices. According to Credit Suisse, temperatures since September have been 4% warmer than they were last year, although they are 20% below the 5-year average.

Bespoke Weather chief meteorologist Brian Lovern said that since the middle of the summer the weather has been bullish, but that the excess supply is what’s keeping prices lower. Going forward he said to expect volatility as different weather patterns play out, all of which could have a drastically different impact on prices.

“From here, we feel that we will have a lot of volatility in the weather pattern, with some warming seen as we move into December (a big reason prices fell so much this week), but there will be more cold threats either late in December, or into the middle portion of winter,” he said to CNBC.

Lovern said that a “normal” winter could see prices decline to the $2.25 level while a colder-than-expected winter could “still save the market.” An uptick in demand for heat could chip away at inventory levels, in which case Lovern said prices could reach $2.75.

On the flip side, he said a rise in temperatures would be “disastrous” and could send prices well under $2.00.

While he said that the latter two scenarios are extreme and that he favors the middle of the road prediction, given the current excess supply temperatures will need to be colder than usual in order to avoid a potential glut next year.

With winter approaching, colder temperatures have started to eat away at inventories. For the week ending Nov. 22 stockpiles decreased by 28 billion cubic feet — the second straight week of declines — bringing total inventory to 3.61 trillion cubic feet. The last two weeks mark a turning point, before which inventories had been steadily increasing since the middle of March.

Despite warmer fall temperatures Credit Suisse noted that it’s still early in the season and 84% of heating days are still to come.

But the Street continues to be bearish. For the week ending Nov. 12 bearish contracts outweighed bullish contracts by nearly 90,000, The Wall Street Journal said, using data from the Commodity Futures Trading Commission. This is part of an ongoing trend, which has seen traders placing net bearish bets since last spring.

But MKM Financial’s Jeff Kilburg said that the short-term selling may be about to take a breather.

“With exceptional volatility this fall and the recent large speculative short positions really pushing prices lower, this recent dip in prices may have run its course,” he said to CNBC. “I believe you have to respect the range and view the recent selling action as a Black Friday sale for Nat Gas,” he added.

For 2020, analysts are calling for an average natural gas price of $2.75, according to estimates from Reuters.

– CNBC’s Michael Bloom contributed reporting.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: pippa stevens
Keywords: news, cnbc, companies, winter, recent, week, natural, supply, months, worked, street, middle, volatility, weather, prices, trades, temperatures, wall, gas


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Mike Bloomberg advisor Doug Schoen stops working for Ukrainian billionaire Pinchuk, who donated to Trump’s foundation

An longtime advisor to billionaire Democratic presidential candidate Mike Bloomberg has cut ties with a Ukrainian oligarch who once made a six-figure donation to President Donald Trump’s now-defunct foundation. And did this the moment Mike Bloomberg made clear his intentions to formally announce his candidacy for president,” said Schoen, a veteran consultant and lobbyist who once worked as President Bill Clinton’s pollster. Pinchuk is also on the board of the Yalta European Strategy, or YES, a f


An longtime advisor to billionaire Democratic presidential candidate Mike Bloomberg has cut ties with a Ukrainian oligarch who once made a six-figure donation to President Donald Trump’s now-defunct foundation.
And did this the moment Mike Bloomberg made clear his intentions to formally announce his candidacy for president,” said Schoen, a veteran consultant and lobbyist who once worked as President Bill Clinton’s pollster.
Pinchuk is also on the board of the Yalta European Strategy, or YES, a f
Mike Bloomberg advisor Doug Schoen stops working for Ukrainian billionaire Pinchuk, who donated to Trump’s foundation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-26  Authors: brian schwartz
Keywords: news, cnbc, companies, york, donated, doug, president, bloomberg, stops, schoen, run, trump, trumps, pinchuk, mike, working, foundation, ukrainian, worked


Mike Bloomberg advisor Doug Schoen stops working for Ukrainian billionaire Pinchuk, who donated to Trump's foundation

Newly announced Democratic presidential candidate, former New York Mayor Michael Bloomberg speaks during a press conference to discuss his presidential run on November 25, 2019 in Norfolk, Virginia.

An longtime advisor to billionaire Democratic presidential candidate Mike Bloomberg has cut ties with a Ukrainian oligarch who once made a six-figure donation to President Donald Trump’s now-defunct foundation.

The aide, Doug Schoen, confirmed to CNBC that he decided to not work with Victor Pinchuk, a businessman who owns a piping company and has investments in steel, real estate and television, after eight years in order to join the Bloomberg campaign.

“I do not represent Mr. Pinchuk anymore. And did this the moment Mike Bloomberg made clear his intentions to formally announce his candidacy for president,” said Schoen, a veteran consultant and lobbyist who once worked as President Bill Clinton’s pollster.

Pinchuk is also on the board of the Yalta European Strategy, or YES, a forum for discussing Ukraine’s future in Europe.

Pinchuk has worked to have a relationship with Trump since the New York real estate magnate and reality TV star kicked off his White House run in 2015. Special counsel Robert Mueller was reportedly investigating a six-figure payment Pinchuk made to Trump’s foundation.

Bloomberg, who has a net worth of over $55 billion, officially announced his candidacy on Sunday but has signaled to allies for weeks that he was actively considering it. A lobbying disclosure report says Schoen terminated his contract with Pinchuk on Nov. 6. Schoen noted that he has not discussed the decision with Bloomberg.

A spokesperson for Bloomberg did not return a request for comment. Pinchuk could not be reached.

Schoen has had a long relationship with Bloomberg. Schoen’s private consulting firm touts its work for Bloomberg’s 2005 mayoral run. Bloomberg served as mayor for three terms, spanning 2002 to 2013.

Schoen has earned millions working for Pinchuk since 2011. The Ukrainian businessman has a net worth of $1.4 billion, according to Forbes.

The latest lobbying report shows that Schoen made over $320,000 in a six-month period ending Oct. 31. That payment includes a $240,000 investment for “advisory/consulting services.” It does not give details about those services.

Documents obtained by McClatchy show that in 2017 Pinchuk invited Trump and members of his administration to one of his annual YES meetings, although it appears no one from the White House attended. In 2015, when Trump was a candidate for president, the future president participated in a 20-minute question and answer session through a video conference call. Pinchuk introduced Trump, and Schoen sat next to the Ukrainian billionaire.

Trump’s appearance came after Pinchuk donated $150,000 to the Donald J. Trump Foundation, which agreed to dissolve last year as New York state investigators worked to determine whether the president’s namesake charity misspent donations.

The New York Times previously reported that Mueller was investigating the payment. Trump’s former personal lawyer Michael Cohen, who is serving a prison sentence for charges related to the Mueller probe, told Congress that Trump told him to have Pinchuk make a donation to the foundation instead of paying him a speaking fee.

Earlier this month, a New York judge ordered Trump to pay $2 million to settle a suit by the state’s attorney general alleging the president misused the charity to benefit his 2016 campaign.


Company: cnbc, Activity: cnbc, Date: 2019-11-26  Authors: brian schwartz
Keywords: news, cnbc, companies, york, donated, doug, president, bloomberg, stops, schoen, run, trump, trumps, pinchuk, mike, working, foundation, ukrainian, worked


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Former Obama aide urges Republicans to ‘do some soul-searching’ over Trump impeachment inquiry

A long-time aide to former President Barack Obama has urged Republicans in the U.S. Senate to “remember their oath of office” as they prepare to hear the final House impeachment hearing of the week on Thursday. A Democratic-led inquiry is trying to determine whether President Donald Trump improperly put pressure on Ukraine to force the country to investigate former Vice President Joe Biden. Ambassador to the European Union, Gordon Sondland, delivered testimony that stunned both Republicans and D


A long-time aide to former President Barack Obama has urged Republicans in the U.S. Senate to “remember their oath of office” as they prepare to hear the final House impeachment hearing of the week on Thursday.
A Democratic-led inquiry is trying to determine whether President Donald Trump improperly put pressure on Ukraine to force the country to investigate former Vice President Joe Biden.
Ambassador to the European Union, Gordon Sondland, delivered testimony that stunned both Republicans and D
Former Obama aide urges Republicans to ‘do some soul-searching’ over Trump impeachment inquiry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-21  Authors: sam meredith
Keywords: news, cnbc, companies, urges, republicans, president, week, worked, obama, soulsearching, vice, purpose, trump, urged, aide, inquiry, impeachment, valerie


Former Obama aide urges Republicans to 'do some soul-searching' over Trump impeachment inquiry

A long-time aide to former President Barack Obama has urged Republicans in the U.S. Senate to “remember their oath of office” as they prepare to hear the final House impeachment hearing of the week on Thursday.

A Democratic-led inquiry is trying to determine whether President Donald Trump improperly put pressure on Ukraine to force the country to investigate former Vice President Joe Biden.

On Wednesday, the U.S. Ambassador to the European Union, Gordon Sondland, delivered testimony that stunned both Republicans and Democrats. He said that not only was there a “quid pro quo” — a Latin term meaning to exchange one favor for another — but that he and other officials were acting under direction from the president himself.

Speaking to CNBC’s Karen Tso in Paris, France on Thursday, Valerie Jarrett, who worked as a senior adviser to Obama from 2009 to 2017, said that a lot of people were “deeply troubled” by the ongoing impeachment inquiry.

It is “stunning that a U.S. president would put anything above the interests of the United States. You are there for one purpose — and one purpose only — and that’s to look out for all of us.”


Company: cnbc, Activity: cnbc, Date: 2019-11-21  Authors: sam meredith
Keywords: news, cnbc, companies, urges, republicans, president, week, worked, obama, soulsearching, vice, purpose, trump, urged, aide, inquiry, impeachment, valerie


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