Extortion, 9/11 and a toy gun: The story behind Barbara Corcoran’s brokerage sale

first_imgMessage* Full Name* Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink The Corcoran Group founder Barbara Corcoran (Getty)On the eve of Barbara Corcoran’s sale of her eponymous brokerage in 2001, a former deputy nearly scuttled the deal by demanding $1 million — or else.Rather than let the $66 million deal fall apart, Corcoran pulled out her checkbook. “At the eleventh hour, one of the most important people in my business held me up for $1 million,” Corcoran disclosed for the first time on the Dec. 4 episode of “Shark Tank.” “She said, ‘You’re going to pay me $1 million or I’m going to your rival.’ Now what do you think happened? I gave her the $1 million immediately.”No, Corcoran didn’t name the offender. Industry sources, of course, have suspicions. Corcoran said the person left the firm after a couple of years and they lost touch.“You never see the train coming in a situation like that,” she told The Real Deal in a recent phone interview. “This person was a hunter by nature. When she saw the opportunity, she went for the kill.”Corcoran said she had never spoken publicly about the encounter. But when a contestant on “Shark Tank” described seizing control of a startup, she said it touched a nerve. “I was enraged,” she said.Read moreRealogy to franchise Cocoran brand Corcoran, Citi Habitats merge NRT’s Liebman love affair center_img TagsBarbara CorcoranCorcoran GroupPam Liebmanrealogy Share via Shortlink Corcoran famously launched her firm in 1973 with $1,000 from an ex-boyfriend who told her she would never succeed. By 2001, it was Manhattan’s second-largest independent brokerage with 700 agents.Days before the Sept. 11 terrorist attacks, Corcoran struck a deal to sell the firm to NRT, now part of Realogy. “I wanted to grow aggressively,” Corcoran told the Wall Street Journal at the time. “I saw more opportunity than my pocketbook could afford.”In fact, it was a period of consolidation in the brokerage world that is repeating itself today, with firms like Berkshire Hathaway and Compass snapping up independent shops.Back then, Corcoran and then-president Pam Liebman negotiated with NRT for months. Liebman, along with Corcoran’s business partner Esther Kaplan and Melinda Magnett, who headed the firm’s Brooklyn operation, were minority partners in the brokerage.Improbably, the parties struck a deal on Sept. 7, 2001.Corcoran recalled recently that negotiations dragged late on Friday night, and by 8:30 p.m. her team wanted to break for the weekend. “I said, ‘No one is leaving until the contract is signed,’” she said. The deal got done around 11:30 p.m.On Tuesday morning, the attack on the World Trade Center changed the course of history.Corcoran’s contract — with a force majeure clause — was anything but secure, she said, and in the ensuing days her calls to NRT went unreturned. Reading the writing on the wall, she snapped into action. Corcoran said she bought a silver toy gun and marched into NRT’s office.“I gave the best one-minute sales pitch of my life,” she said. The pitch touched on Corcoran’s recently-refurbished offices and an army of agents who hadn’t yet hit peak productivity. As a finale, Corcoran said she whipped out the gun and threw it on a table, where it spun around. Corcoran said she compared the brokerage to a “new gun that’s ready to be fired and the bullets won’t ever run out.”It worked.Corcoran announced the deal to agents on Sept. 21, 2001, at the Pierre hotel. After it closed, she stayed on as chairwoman, a role she held until 2005, while Liebman took over as CEO.Liebman, who joined the brokerage in 1984 at age 23, was already running the firm and had negotiated terms of the sale to NRT, finalizing some of the details while riding a Ferris wheel with her young daughter. “Barbara would always say, ‘I want the last page of my book to say, I never even read a piece of paper,’” Liebman told The Real Deal in 2016. “She didn’t want to get involved in the details.”Under NRT — and now Realogy — Corcoran continued to grow. In 2002, its parent company purchased new development marketing firm the Sunshine Group from Louise Sunshine. (Today, it operates as Corcoran Sunshine Marketing Group.) Then in 2004, Corcoran acquired rental firm Citi Habitats from founder Andrew Heiberger. The two brands operated independently until January of this year. The merger left Corcoran with 2,420 agents and $7 billion in annual sales.More recently, Realogy said in 2018 it would expand the Corcoran brand by selling franchises in second-home cities around the world.Barbara Corcoran admitted that when confronted by her deputy all those years ago, part of her wanted to say, “Blank you! Take a walk.” But she believed satisfying her ego would also be the wrong decision.“I did not regret it,” she said, and within a few years the individual left the company and, she said she believes, real estate. “So they weren’t so important after all. The company went on just fine.”Contact E.B. Solomontlast_img read more

Where to find 1.5 million yr old ice for the IPICS “Oldest-Ice” ice core

first_imgThe recovery of a 1.5 million yr long ice core from Antarctica represents a keystone of our understanding of Quaternary climate, the progression of glaciation over this time period and the role of greenhouse gas cycles in this progression. Here we tackle the question of where such ice may still be found in the Antarctic ice sheet. We can show that such old ice is most likely to exist in the plateau area of the East Antarctic ice sheet (EAIS) without stratigraphic disturbance and should be able to be recovered after careful pre-site selection studies. Based on a simple ice and heat flow model and glaciological observations, we conclude that positions in the vicinity of major domes and saddle position on the East Antarctic Plateau will most likely have such old ice in store and represent the best study areas for dedicated reconnaissance studies in the near future. In contrast to previous ice core drill site selections, however, we strongly suggest significantly reduced ice thickness to avoid bottom melting. For example for the geothermal heat flux and accumulation conditions at Dome C, an ice thickness lower than but close to about 2500 m would be required to find 1.5 Myr old ice (i.e., more than 700 m less than at the current EPICA Dome C drill site). Within this constraint, the resolution of an Oldest-Ice record and the distance of such old ice to the bedrock should be maximized to avoid ice flow disturbances, for example, by finding locations with minimum geothermal heat flux. As the geothermal heat flux is largely unknown for the EAIS, this parameter has to be carefully determined beforehand. In addition, detailed bedrock topography and ice flow history has to be reconstructed for candidates of an Oldest-Ice ice coring site. Finally, we argue strongly for rapid access drilling before any full, deep ice coring activity commences to bring datable samples to the surface and to allow an age check of the oldest ice.last_img read more

Scoreboard roundup — 2/15/21

first_imgFebruary 16, 2021 /Sports News – National Scoreboard roundup — 2/15/21 Written by Beau Lundcenter_img FacebookTwitterLinkedInEmailiStockBy ABC News(NEW YORK) — Here are the scores from Monday’s sports events:NATIONAL BASKETBALL ASSOCIATIONWashington 131, Houston 119Chicago 120, Indiana 112 (OT)New York 123, Atlanta 112Utah 134, Philadelphia 123Brooklyn 136, Sacramento 125LA Clippers 125, Miami 118Golden State 129, Cleveland 98NATIONAL HOCKEY LEAGUEArizona 1, St. Louis 0NY Islanders 3, Buffalo 1Florida 6, Tampa Bay 4Carolina 7, Columbus 3Ottawa 6, Toronto 5 (OT)Chicago 3, Detroit 2 OT)Winnipeg 6, Edmonton 5Calgary 4, Vancouver 3 (OT)San Jose 3, Anaheim 2New Jersey at Boston (Postponed)Nashville at Dallas (Postponed)TOP-25 COLLEGE BASKETBALLFlorida St. 81, Virginia 60Baylor at West Virginia (Postponed)Copyright © 2021, ABC Audio. All rights reserved.last_img read more

Come Cheer on the Ocean City Junior Raiders Football Team This Saturday!!

first_imgOcean City Junior Raiders Football The Ocean City Junior Raiders host the Absecon Blue Devils this Saturday, October 7th, in Ocean City at Carey Stadium.The Pee-Wee game (featuring 2nd thru 4th graders) begins at 4pm followed by the JV game (featuring 5th and 6th graders) at 5:30 and the Varsity game (featuring 7th and 8th graders) starts at 7pm.The Varsity match-up features two of the top teams in the conference, each with only one loss. “It is a tough match-up and we look forward to everyone coming out to support us on Saturday night” said Varsity Coach, Jeff Young.Come out and support the Ocean City Junior Raiders. For more information visit www.ocjuniorraiders.comlast_img read more

In Short

first_imgPret director tributesPret A Manger’s former commercial director Simon Hargraves has died from cancer. Tributes in Sandwich & Snack News spoke of his popularity in the office, his ability to make work a pleasurable experience and his high standards and intuition.Lion Eggs onlineBakers who want to source British Lion Egg products can now do so online, on a new website: www.lioneggproducts.co.uk. The site highlights the benefits of specifying the use of Lion egg products, as well as offering market information and case studies. The product database enables bakers to source a wide range of different products.Greggs vandalisedGreggs’ Moorland Road store in Bath had to throw away its entire stock after a vandal sprayed a fire extinguisher through the letterbox. Police and the fire brigade set up a 50-yard cordon round the store and closed part of the road while they investigated the incident.York cake contestThe search is on for York’s greatest cake in a competition to celebrate a revamp at one of the city’s cafes. Krumbs, which provides catering and hospitality training to local adults with learning disabilities, wants residents to send in their own recipe, along with a short explanation about why they think it should be voted York’s Greatest Cake. Email: [email protected]’s brand spendFox’s has unveiled a new £3m marketing initiative to support the relaunch of its biscuit bar brand, Rocky. It will be rolled out throughout September, and Fox’s hopes it will broaden the brand’s target audience.last_img read more

Recurrent ovarian cancer patients may have hope

first_imgA gene therapy that delivers a protein that suppresses the development of female reproductive organs may improve survival rates in patients with ovarian cancer that has recurred after chemotherapy. Recurrence happens 70 percent of the time and is invariably fatal.In their report receiving online publication in PNAS Early Edition, a research team from Harvard-affiliated Massachusetts General Hospital (MGH) describes how a single injection of a modified version of Mullerian inhibiting substance (MIS), a protein critical to sexual development, suppressed the growth of chemotherapy-resistant ovarian tumors in a mouse model. While not all the tested tumors — grown from cells grafted from patient tumors — were sensitive to this treatment, the investigators also outlined a noninvasive way of screening cancer cells in vitro for treatment responsiveness.“Our findings are important because there are currently no therapeutic options for recurrent, chemoresistant ovarian cancer,” said Harvard Medical School (HMS) instructor in surgery David Pepin of the MGH Pediatric Surgical Research Laboratories. Pepin is the lead author of the report. “This is also a proof of concept that gene therapies with the AAV9 vector can be used to deliver biologics for the treatment of ovarian cancer, and represents the first time this approach has been tested in this type of ovarian cancer model.” During embryonic development, MIS is secreted by tissues in male embryos to prevent maturation of the Mullerian duct, which otherwise would give rise to female reproductive organs. The potential of MIS to treat ovarian cancer and other reproductive tumors has been studied for many years by Patricia Donahoe, director of the MGH Pediatric Surgical Research Laboratories and senior author of the study. Previous investigations by Donahoe’s team have shown that MIS suppresses ovarian cancer growth, both in animals and in human cell lines, by targeting the cancer stem cells that survive chemotherapy; but previous methods of producing MIS were unable to generate sufficient quantities of high-quality protein for preclinical testing.The current study employed a modified form of the MIS gene, developed by Pepin to generate protein of greater purity and effectiveness, combined with the accepted viral vector AAV9 for delivery into the peritoneal cavity, a common site for the recurrence of ovarian cancer. The modified MIS/AAV9 construct was tested against tumor cells taken from ascites fluid that had accumulated in the abdomens of several patients with recurrent ovarian cancer. Initial experiments confirmed that these cells expressed the MIS receptor protein, carried markers indicating their identity as cancer stem cells, and that their growth was inhibited in vitro by MIS. A single injection of the MIS/AAV9 construct into the peritoneal cavity of mice resulted in elevated expression of MIS by multiple tissues throughout the abdominal cavity and in adjacent muscles.The effectiveness of the MIS/AAV9 construct was tested in mice implanted with ovarian cancer cells. The test revealed that treatment with MIS/AAV9 three weeks prior to tumor implantation significantly inhibited tumor growth. In a more clinically relevant experiment, applying the therapy to mice in which tumors already had been induced by implanting cancer cells from five different patients significantly inhibited further growth of tumors generated from the cells of three of the five patients. Analysis of tumor samples from more than 200 patients revealed that 88 percent expressed some level of the MIS receptor, with 65 percent expressing moderate or high protein expression.“Since the response to MIS gene therapy is not the same for all patients, it will be important to first screen each patient’s tumors to ensure they will respond” said Pepin. “While we have not yet identified biomarkers of treatment response — something we are currently searching for — we have described a way to rapidly grow tumor cells from ascites to be evaluated for drug sensitivity. If further study confirms the susceptibility of chemoresistant tumors to this MIS gene therapy, the ability to inhibit tumor recurrence could significantly extend patient survival.”“All of the implanted tumor cells were from patients who failed all previous therapies, so a 60 percent response rate is quite significant for a single agent,” said Donahoe, who is the Bartlett Distinguished Professor of Surgery at HMS. “The ability to administer this MIS/AAV9 construct — prepared by Guangping Gao, director of the Gene Therapy Program at the University of Massachusetts and a long-term leader in the field of gene therapy — as a single, long-acting injection makes the use of this effective but complex protein both clinically feasible and patient-friendly. Our results provide proof of concept and predict a translation into patient care that was not previously possible.” The Daily Gazette Sign up for daily emails to get the latest Harvard news.last_img read more

Growing the Dell EMC partnership with NVIDIA

first_imgDell EMC announces resell of  the NVIDIA DGX-1 deep learning server available to organizations around the world.For years, Dell EMC has worked to bring the power of GPU-accelerated computing to our high-performance computing customers. This is a quest that continues today, with more momentum than ever before.During ISC 2019, Dell EMC announced a portfolio of AI systems which now includes the NVIDIA DGX-1, offering high performance for the most challenging AI workloads. You can now find NVIDIA GPUs inside several Dell EMC servers and Ready Solutions, including the new Dell EMC DSS 8440 server with up to 10 GPU accelerators, and the Ready Solutions for AI, Deep Learning with NVIDIA offering in our growing portfolio of Dell EMC Ready Solutions.Today, we’re taking things a step further with an expanded partnership with NVIDIA. Customers have asked for NVIDIA DGX-1 to complement the existing Dell EMC PowerEdge line and it’s now available worldwide from Dell EMC. Through this partnership, Dell EMC and NVIDIA will make the power of GPU-accelerated computing conveniently available to organizations just about everywhere.For those homing in on NVIDIA GPU-accelerated deep learning systems to stay competitive, this announcement should be cause for excitement. The NVIDIA DGX-1 is a single server with the all-NVIDIA software stack, designed for deep learning performance. It’s architected for high throughput and high interconnect bandwidth to maximize neural network training performance.Dell EMC can help you get the most out of NVIDIA DGX-1 by pairing the system with PowerEdge servers, PowerSwitch networking, and/or storage including Dell EMC Isilon F800 scale-out all-flash NAS. With the ability to support massive concurrency, scale from 10s TBs to 10s PBs of data and linearly scale bandwidth performance up to 945 GB/s, the Isilon F800 is a perfect data complement to the high performance, high bandwidth NVIDIA DGX-1 system. It’s built for the challenges of AI applications, like deep learning, which are some of the most demanding compute and data-intensive workloads found in today’s data centers.These new AI options allow Dell EMC customers to quickly deploy production-grade deep learning solutions for really tough use cases — from applications like genomics and precision medicine to autonomous driving and advanced driver assistance systems. Systems like these are now essential for organizations that need GPU-based AI systems into production today — not years from now.And there are a great many organizations that fall into that category. The number of enterprises implementing AI grew by 270 percent in the past four years and tripled in the past year, according to the Gartner, Inc., 2019 CIO Survey.[1] The firm found that 37 percent of organizations have already implemented AI in some form.Clearly, AI continues to gain momentum. To keep it going, and to open the AI doors to more enterprises, we need turnkey AI platforms that make it faster and easier to adopt applications for deep learning and other technologies for AI. At Dell EMC, we are working with NVIDIA and other world-class technology companies to bring those platforms to market, all around the world.To learn more about getting started with deep learning solutions from Dell EMC and NVIDIA, contact your Dell EMC sales representative. Availability is subject to geographic restrictions.[1] Gartner, Inc., “Gartner Survey Shows 37 Percent of Organizations Have Implemented AI in Some Form,” January 21, 2019.last_img read more

HR 621 is Dead: Liberals and Conservatives Unite to Save Public Lands

first_imgLast month, Congressman Jason Chaffetz (R-UT) introduced a bill —H.R. 621—that proposed the sell-off of 3.3 million acres of public lands. In the bill, many federal lands, including national forests, would be transferred to state or private interests.Outdoor enthusiasts from around the country rallied together against the bill. Hunters and sportsmen joined forces with dirtbag climbers in a united front opposing the sale of taxpayer-supported public lands.Last week, Chaffetz announced that public opposition had convinced him to withdraw H.R. 621.The Outdoor Alliance credited the collaboration between all groups in the outdoor community. While sometimes there is a divide between those who carry backpacks and those who carry guns, outdoor enthusiasts stood together to defeat HR 621.“Outdoor recreation advocates, sportsmen and outdoor businesses were vocal in their opposition to these bills,” said the Outdoor Alliance in a statement. “This unusually intense outpouring of support for public lands had a real impact.”Read more here.last_img read more

Costa Rica, U.S. team in narcotics fight

first_img SAN JOSÉ, Costa Rica – Costa Rica seized more than 6.6 tons of narcotics in the first half of 2012, through a combination of Costa Rican and U.S. Navy patrols. Two of the year’s largest coastal marijuana seizures were the result of coordinated efforts. In July, a U.S. Navy helicopter spotted a go-fast boat carrying 91 bales of marijuana. The Costa Rican Coast Guard apprehended the vessel and detained four suspects, while the crew of the USS Elrod collected the 4,900 pounds of marijuana aboard. The second seizure occurred in September, with the crew of the USS Carr recovering 4,134 pounds of marijuana. The combined street value of the recovered drugs exceeds US$8 million. Cocaine also continues to be found in high numbers up and down the coasts. October saw several large cocaine busts, including a seizure of nearly a ton of cocaine in the Osa Peninsula in the southern Pacific, and an additional 119 kilograms (262.35 pounds) in balloons in the Caribbean port of Limón. In another team effort in September, the U.S. Navy and Costa Rican Coast Guard captured 1,532 pounds of cocaine off the coast of Barra del Colorado on the Pacific side. Costa Rican officials captured an additional 758 kilograms (1,671.1 pounds) of cocaine along the coast throughout the month in solo efforts, according to the Security Ministry. Help from the U.S. Navy By Dialogo November 06, 2012 Meanwhile, Costa Rica has partnered with U.S. and European forces to help patrol its coasts. Thanks to a new law passed by the Costa Rican legislature this June, 46 U.S. Navy ships will be patrolling the coast through the end of the year with permission to dock in the nation’s Pacific and Caribbean ports. “Thanks to the National Assembly’s actions, we can now quickly transfer any suspects or evidence into Costa Rica’s legal system,” said Patrick Kulakowski, commanding officer of the USS Carr. “During our discussions, we all agreed that we must work together to successfully counter transnational organized crime.” The USS Carr is just one of the many ships currently deployed in the Caribbean as part of Operation Martillo, or hammer in Spanish. This transnational effort, covering 42 million square miles of ocean, seeks to stop up common drug-trafficking routes by patrolling both the suspected launch and landing sites of most drug shipments. Costa Rica disbanded its army in 1948, leaving its relatively small Coast Guard with the entire responsibility of protecting the nation’s waters. At the moment, it has only two helicopters, six patrol boats and 11,000 police officers. “In reality this is a global problem, the drugs that come through our coasts go on to cause problems in other countries,” Mario Zamora, Costa Rica’s minister of public security, told the press in July. “We have to respect the fact that this is not just our problem.”center_img “The Coast Guard and Navy work closely with our partner nations everyday to interdict illegal narcotics trafficking the seas,” said Robert Landolfi, Tactical Law Enforcement Team South’s commanding officer, in a prepared statement. “Joint drug busts like this show that experience working together in action.” In addition, nearly 25% of Costa Rica is protected land, and large portions of that land are infrequently patrolled and difficult to access – making it ideal for smuggling drugs or stopping over to refuel during transit. In one of the largest drug busts in the country this year, police recovered nearly one ton of cocaine from a mangrove in Playa Seco National Park, spurring a surge of law enforcement and investigations to the area. Following a July inspection of Manuel Antonio National Park, officials found seven docking stations used for suspected drug boats, along with evidence of encampments used by drug traffickers. These mangroves were all inaccessible by land, making it extremely easy for traffickers to refuel or stop for the night. “They come in small boats and park on the beach,” Security Vice Minister Celso Gamboa told the press following the Playa Seco bust. “They bury the drugs for several days and then take them out for local consumption, possibly taking small loads to other countries.” Yet the government is constrained by a lack of resources to fight traffickers. Only eight officers are available to patrol all 136,000 acres of Manuel Antonio Park, leaving much of the job to park rangers trained mainly in park conservation, not battling smugglers. Drug submarines on the rise While drug smugglers are getting sneakier, they’re also getting more innovative out in the open. In the past, cartels used speedboats or fishing vessels to either outrun or trick law enforcement, but now they’re more likely to bring drugs under the water. Submarines, built in workshops throughout Central and South America at the behest of drug cartels, are becoming the new fashionable vehicle for smuggling. Most of these vessels are able to surface only briefly at night, enabling them to make the journey from South America all the way to the Central American isthmus completely underwater. The first of these vehicles ever found for drug trafficking was apprehended in Costa Rican waters in 2006 carrying three tons of cocaine, and authorities have only seen the use of these vessels increase over time. The real threat with these subs lies not only in their stealth but also in their capacity, said officials. In 2008, another submarine was apprehended carrying more than seven tons of cocaine – nearly double what the average above-water vessel is able to transport. On Oct. 30, the U.S. Navy’s guided-missile frigate USS Carr seized more than 1,700 pounds of cocaine worth just over US$15 million in the eastern Pacific, according to press reports. Since June, the Norfolk-based vessel alone has seized about 3,900 pounds of cocaine and 4,100 pounds of marijuana. New law beefs up coastal enforcementlast_img read more

COVID-19: Jakarta to restrict visitors after Idul Fitri

first_imgJakarta will continue restricting the number of people entering the capital after Idul Fitri to prevent the spread of COVID-19 in the city following the government’s mudik (exodus) ban.Governor Anies Baswedan said the Jakarta administration was preparing a regulation to limit the number of people entering the capital city, the country’s COVID-19 epicenter, after the Ramadan and Idul Fitri holiday season.This year, the holiday of Idul Fitri will begin on the evening of May 23. Jakarta has prolonged large-scale social restrictions (PSBB) until May 22. The policy allows the administration to suspend the operation of schools, places of worship and workplaces, with exemptions for essential sectors.While claiming that PSBB had effectively reduced the spread of the virus in the capital, Anies urged citizens to remain vigilant as Jakarta was still seeing new cases daily.Read also: Jakarta’s curve flattened? Experts question government’s claimThe governor added during the Friday press briefing that the administration would distribute 20 million masks to citizens – two masks per person – as it wanted to encourage people to wear them to limit the transmission of the virus.The provincial administration will distribute social aid packages ahead of Idul Fitri to “more than 1.2 million families”. These will be in addition to the central government’s food aid.As of Friday, Indonesia had reported 10,551 confirmed cases of COVID-19 with 800 fatalities. Jakarta, with 4,317 cases, accounted for about 41 percent of the nation’s total cases.Topics : “Jakarta residents are advised not to leave the city to return to their hometowns, as urged by President [Joko “Jokowi” Widodo],” Anies said during a press briefing on Friday. “If you leave the city, you may not be able to come back soon.”Read also: COVID-19: ‘Mudik’ ban catches travelers flat-footedAfter initially advising residents against participating in mudik, the government officially banned the homecoming tradition for this year on April 21 in an effort to limit the spread of COVID-19.Authorities reported that traffic on toll roads throughout Greater Jakarta, including those leading to and from the city, had reduced, although some travelers still managed to leave the urban area by hiding in trucks or bus luggage compartments to pass through checkpoints undetected.last_img read more