Blog – Page 2
 

Central Florida Sports Complex/
Winter Park Volleyball Club
133 Atlantic Drive, Maitland, FL 32751
www.wpvc.org

PRESS RELEASE

Press Contact: Jeremy Adams- Director of Public Relations
855-387-7463 Ext.104 / jeremyadams@wpvc.com

FOR IMMEDIATE RELEASE

New Sports Complex Celebrates Grand Opening

New sports complex provides convenient location and training facility to Orlando, FL and surrounding areas.

Maitland, FL, September 5, 2012 – Central Florida Sports Complex, a premier sports center in the central Florida region, has scheduled to open it’s doors with a grand opening on October 6, 2012 at 9:00am.

The grand opening celebration will take place on a Saturday morning as the community, sponsors and volleyball teams will be involved in the event. The grand opening will mark one of the first events hosted at the facility with many tour events, tournaments and camps, to follow. Volleyball fans will not want to miss this celebration. Admission to the celebration is free and open to the public. To find out more about the events, or the Central Florida Sports Complex, visit the Winter Park Volleyball Club website at www.wpvc.org.

Featured Sponsors of the Central Florida Sports Complex and Winter Park Volleyball Club are: Prime Pinnacle – www.primepinnacle.com , Firetainment – www.firetainment.com, Legacy Construction – www.legacycustombuilt.com , Mycircle Tree – www.mycircletree.com , Orlando Foot & Ankle Clinic – www.orlandofootandankleclinic.com , Ranger’s Pet Outpost & Retreat –
www.rangerspetoutpost.com , Secured Investment Lending – www.securedinvestmentlending.com , Little’s Portraits & Custom Framing Studio – www.littlesportraits.com. We have room for 5 more sponsors, so please contact us about our sponsorship packages.

John Madison Landscaping, Inc. www.johnmadisonlandscape.com will be building a Custom Designed Beach Volleyball Court to be featured as his display for future clients/customers. Central Florida Sports Complex is a 12,000 square-foot climate-controlled sports and training facility that includes indoor volleyball courts, outdoor beach volleyball courts, basketball courts, tennis courts and other amenities. It also includes a complete fitness gym for athletes and a concession stand offering healthy food. The sports complex is available for team sports or individual training. The facility is also available to rent for events such as conventions, personal fitness, and various sport functions. The location is convenient for Orlando, Winter Park, Altamonte Springs, Winter Springs, Oviedo, Sanford, Apopka, Lake Mary, and Longwood Areas.

The new complex will also be the training facility and tournament location for the Winter Park Volleyball Club (WPVC). The women’s volleyball club is entering it’s second season and will include unique types of training that will bring athletes to the next level and prepare them for college or pro volleyball. The head coach and president, Aaron Phillips, has 12 years of coaching experience and is excited about offering a program that will help players see results.

With the grand opening planned, the sports complex promises to be an exciting new feature for the residents of central Florida.

Prime Pinnacle, LLC is the primary investment company for Winter Park Volleyball Club.
Prime Pinnacle focuses on alternative capital investments in well-secured PPMs (private placement memorandums) as well as financial investments in small to medium sized companies. Prime Pinnacle’s philosophy is to provide our members with capital preservation and growth through a well-designed business plan, capable management, effective cost control program, significant earning capacity and solid debt management. Prime Pinnacle provides management, marketing, sales, promotions and advertising for all our corporate partners and joint ventures. For more information visit www.primepinnacle.com.

2475 N. John Young Parkway, Orlando, FL 32805
www.firetainment.com 888-769-3444

PRESS RELEASE

Press Contact:
Jeremy Adams- Director of Public Relations
jeremy@firetainment.com

FOR IMMEDIATE RELEASE

Fire-Table With Cooking Unit Introduced For Rent or Purchase

Growing demand of the Fire Table prompts Firetainment to introduce products for both rental and purchase.

Orlando, FL, July 23, 2012 – Firetainment, Inc., producer of quality fire tables and supplier of a variety of outdoor living products and accessories, expands their line of products for both rental and purchase.

With more versatility and convenience than traditional wood burning fire pits, fire tables combine function and style in a single entertainment unit. Due to fire tables offering the ambiance of fire and also the functionality of a table and cooking unit, Firetainment is seeing increased demand for their products. “The concept behind the fire table is that it performs three functions in one: fire + table + cooking; thus providing the ultimate entertainment experience. Firetaining also brings friends and family together.” said Kevin Fulp, CEO/President of Firetainment, Inc.

Firetainment tables are manufactured In the U.S.A. and are sold in both commercial and residential markets. This product is a new entertainment option for residential settings, resorts, country clubs, vacation homes, clubhouses, restaurants, bars, and spas. Consumers looking for new ways to entertain at home are finding that the fire tables are versatile and perfect for entertaining friends, enjoying an evening with family, or creating a relaxing, romantic evening. Using a patented cooking mount the fire table can be converted into a stovetop allowing the use of a griddle, wok, Dutch oven, salt stone and many other cooking options. Cooking with the fire table allows for an array of meal options such as quesadillas on the cast iron griddle, searing tuna on the salt block, serving cheese fondue, or simply roasting marshmallows.

The Firetainment table is available with granite or aluminum tabletop surfaces along with various base and glass stone options. Custom sizes and colors are also available. The fire table aluminum rental model can be wrapped with any custom design. This is a new concept in special event entertainment for weddings, rehearsal dinners, engagement parties, corporate events, birthdays, reunions, sweet 16 parties, graduation parties, bar mitzvahs/ bat mitzvahs, grand openings, and many more. Because of the quality and versatility of fire tables, Firetainment believes they will continue to see growth in the residential, commercial and rental markets.

More information about Firetainment is available online at www.firetainment.com. For videos on Firetainment visit:
http://firetainment.com/what-is-firetainment/
http://www.youtube.com/user/xFIRETAINMENTx?feature=

Prime Pinnacle, LLC is the primary investment company for Firetainment, Inc.
Prime Pinnacle focuses on alternative capital investments in well-secured PPMs (private placement memorandums) as well as financial investments in small to medium sized companies. Prime Pinnacle’s philosophy is to provide our members with capital preservation and growth through a well-designed business plan, capable management, effective cost control program, significant earning capacity and solid debt management. Prime Pinnacle provides management, marketing, sales, promotions and advertising for all our corporate partners and joint ventures. For more information visit www.primepinnacle.com.

As cited by Financial Standard Online, there is a strong move from the institutional
investment community toward alternative investments.  The survey found
diversification and shelter from volatility as the main reasons for investing in
alternatives.  Please read full article below.http://www.financialstandard.com.au/news/view/13002917/

Prime Pinnacle offers a safe and secure alternative with the Prime Fund 1,

I’d love the chance to visit with you about the Prime Fund 1.
Best Regards,
Tracy Stein-CEO/President
Prime Pinnacle,LLC

Advisors Increase Alternative Investments in Client Portfolios

http://www.fa-mag.com/fa-news/11460-advisors-increase-alternative-investments-in-client-portfolios-.html

Retail financial advisors are redoubling efforts to diversify their clients’ portfolios by increasing allocations of alternative investments, says a new study by Cogent Research.

The data, gathered from a survey of 1,750 retail investment advisors, reveals a trend of advisors turning to alternatives to manage risk in a volatile market. Retail financial advisors are moving to alternatives for their clients’ portfolios, something that was done in the past mostly by institutional investors, and the trend is projected to increase in the future, Cogent principal John Meunier said.

Meunier and Cogent senior project director Meredith Rice co-authored the 4th annual Advisor Brandscape report released on Wednesday.

Advisor use of alternative funds remains high. Seventy-five percent of advisors surveyed reported using alternative investments of some kind. “Usage is highest in the broker-dealer channel,” Rice said. “In the national channel, almost eight in ten advisors report that they are using some form of alternative fund.”

An estimated 68% of RIAs report using alternative investments, according to the report.

Advisor alternative fund usage is also a function of the assets under management (AUM) an advisor oversees. “Advisors with books of business of $25 million and above are more likely to report that they’re using alternatives of some kind.

The primary reason for their use, the advisors say, is an attempt to add diversification to client portfolios, according to 88% of advisors surveyed. Other reasons include downside protection for clients’ portfolio (83%) and absolute return purposes (55%).

In terms of what types of alternative strategies advisors are using, 34% of all advisors listed multi-strategy/multi-alternatives, followed by 25 percent selecting managed futures; and 24 percent listed long-short equity strategy.

Independent advisors use alternatives the most and prefer venture capital, private equity and hedge funds. Bank advisors rely heavily on limited partnerships, and RIAs prefer structured products and notes.

Advisor use of exchange traded funds (ETFs) is also increasing. In 2007 about 45% of advisors surveyed said they used ETFs. This year, advisor ETF usage is at 68%. “The more experience advisors have with ETFs, the more likely they are to be heavy users of the product,” Rice said.

Jim McConville

GOTO: www.primepinnacle.com for more information.

As cited by Financial Standard Online, there is a strong move from the institutional investment community toward alternative investments.  The survey found diversification and shelter from volatility as the main reasons for investing in alternatives.  Please read full article below.

There are three core reasons why institutional investors will continue to pour money into alternatives, according to a new report on the sector.

These are diversification, protection against volatility and seeking non-correlated returns.

They are revealed in the annual Russell Investments Survey on Alternative Investing report which is based on interviews with 146 institutions totaling more than $1.1 trillion in assets across North America, Europe, Australia and Japan.

The survey found respondents cited diversification and shelter from volatility as main reasons for investment into the sector, leading Russell to anticipate rising allocations during the next three years.

“The volatility experienced in the market today reinforces institutions desire to invest in alternatives,” said Nicole Connolly, director, alternative investments, Asia-Pacific region, Russell Investments.

While diversification was the main reason for investing into alternatives by 90% of survey respondents, 64% said the main reason was to protect against volatility and 64% said an important reason was to get exposure to low correlation strategies.

“The questions institutions are now asking is not whether to use alternatives but what the best way is to use alternatives to achieve their own objectives,” added Connolly.

Locally, 85% of Asia Pacific investors (ex-Japan) surveyed said alternatives are meeting their expectations for the role they play in portfolios, compared to just 70% globally.

Institutions participating in the survey currently have an average of 22% allocation to alternatives.

The majority of respondents indicated that allocations would remain static or increase over the next one to three years across all alternatives categories.

“Alternatives can play a unique role in helping organisations achieve their desired investment outcomes, and in today’s dynamic alternative investment marketplace, institutional investors are using alternatives in multiple ways,” said Connolly.

Prime Pinnacle offers a safe and secure alternative with the Prime Fund 1.
I’d love the chance to visit with you about the Prime Fund 1.
Best Regards,
Tracy Stein-CEO/President
Prime Pinnacle,LLC

Orlando was ranked the No. 1 summer vacation destination, according to a recent AAA travel agent survey and travel sales data.
The survey found that a large number of vacation loyalists are still traveling, despite gas prices inching closer to $4 a gallon.
There were about 51.45 million visitors to Orlando in 2010, according to the latest available data from Visit Orlando. An estimated 54.29 million visited the area last year and about 55 million are expected to visit in 2012.
Orlando is the No. 1 tourism destination in America, and travel is the region’s dominant industry, contributing more than $28.3 billion annually to the local economy and employing about 355,000 people, according to Visit Orlando.

Charles Schwab & Co. Inc. agreed to pay a $1.1 million fine, after an examination by Florida regulators found the company distributed inaccurate securities information to investors, the Tampa Bay Business Journal reports. The company distributed inaccurate descriptions of preferred equity securities, municipal bonds and corporate bonds to customers from 2008 to 2011, according to the Florida Office of Financial Regulation, which began an investigation in May 2010 after receiving a complaint from a customer.
Schwab cooperated fully with regulators during the examination and typically sent customers who got bogus information correction letters, a final order issued March 26 said.

WASHINGTON – March 29, 2012 – Sales of investment and vacation homes jumped in 2011, with the combined market share rising to the highest level since 2005, according to the National Association of Realtors® (NAR).

NAR’s 2012 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2011, shows investment-home sales surged 64.5 percent to 1.23 million last year from 749,000 in 2010. Vacation-home sales rose 7.0 percent to 502,000 in 2011 from 469,000 in 2010. Owner-occupied purchases fell 15.5 percent to 2.78 million.

Vacation-home sales accounted for 11 percent of all transactions last year, up from 10 percent in 2010, while the portion of investment sales jumped to 27 percent in 2011 from 17 percent in 2010.

NAR Chief Economist Lawrence Yun said investors with cash took advantage of market conditions in 2011. “During the past year investors have been swooping into the market to take advantage of bargain home prices,” he said. “Rising rental income easily beat cash sitting in banks as an added inducement. In addition, 41 percent of investment buyers purchased more than one property.”

Yun said the shift in investment buyer patterns in 2011 shows the market, for the large part, is able to absorb foreclosures hitting the market.

“Small-time investors are helping the market heal since REO (bank real estate owned) inventory is not lingering for an extended period,” he said. “Any government program to sell REO inventory in bulk to large institutional companies should be limited to small geographic areas. Even where alternatives are needed, it’s best to rely on the expertise of local businesses, nonprofit organizations and government.”

All-cash purchases have become fairly common in the investment- and vacation-home market during recent years: 49 percent of investment buyers paid cash in 2011, as did 42 percent of vacation-home buyers. Half of all investment home purchases in 2011 were distressed homes, as were 39 percent of vacation homes.

“Clearly we’re looking at investors with financial resources who see real estate as a good investment and who aren’t hesitant to use cash,” Yun said. Of buyers who financed their purchase with a mortgage, large downpayments were typical. The median downpayment for both investment- and vacation-home buyers in 2011 was 27 percent.

“Given the tight credit in recent years, many would-be normal home buyers for owner occupancy declined,” Yun said.

The median investment-home price was $100,000 in 2011, up 6.4 percent from $94,000 in 2010, while the median vacation-home price was $121,300, down 19.1 percent from $150,000 in 2010.

Investment-home buyers in 2011 had a median age of 50, earned $86,100 and bought a home that was relatively close to their primary residence – a median distance of 25 miles, although 30 percent were more than 100 miles away.

“The share of investment buyers who flipped property remained low in 2011, and many of those homes likely were renovated before reselling,” Yun said. Five percent of homes purchased by investment buyers last year have already been resold, up from 2 percent in 2010. The typical investment buyer plans to hold the property for a median of 5 years, down from 10 years for buyers in 2010.

The typical vacation-home buyer was 50 years old, had a median household income of $88,600 and purchased a property that was a median distance of 305 miles from the primary residence; 35 percent of vacation homes were within 100 miles and 37 percent were more than 500 miles. Buyers plan to own their recreational property for a median of 10 years.

Lifestyle factors have consistently been the primary motivation for vacation-home buyers, while the desire for rental income drives investment purchases. Vacation homes purchased last year were more likely to be in suburban or rural areas; investment homes were concentrated in suburban locations.

Eighty-two percent of vacation-home buyers said the primary reason for buying was to use the property themselves for vacations, or as a family retreat. Thirty percent plan to use the property as a primary residence in the future, and only 22 percent plan to rent to others.

Half of investment buyers said they purchased primarily to generate rental income, and 34 percent wanted to diversify their investments or saw a good investment opportunity.
Sixteen percent of vacation buyers and 14 percent of investment buyers purchased the property for a family member, friend or relative to use. In many cases the home is intended for a son or daughter to use while attending school.

Forty-two percent of vacation homes purchased last year were in the South, 30 percent in the West, 15 percent in the Northeast and 12 percent in the Midwest; 1 percent were located outside of the U.S.

Forty-four percent of investment properties were in the South, 23 percent in the West, 17 percent in the Midwest and 15 percent in the Northeast.

Eight out of 10 second-home buyers said it was a good time to buy. Nearly half of investment buyers said they were likely to purchase another property within two years, as did one-third of vacation-home buyers.

Currently, 42.1 million people in the U.S. are ages 50-59 – a group that has dominated second-home sales since the middle part of the past decade and established records. An additional 43.5 million people are 40-49 years old, while another 40.2 million are 30-39.

“Given that the number of people who are in their 40s is somewhat larger than the 50-somethings, the long-term demographic demand for purchasing vacation homes is favorable because these younger households are likely to enter the market as their desire for these kinds of properties grows, and individual circumstances allow,” Yun said.

NAR’s analysis of U.S. Census Bureau data shows there are 8.0 million vacation homes and 42.8 million investment units in the U.S., compared with 75.3 million owner-occupied homes.

NAR’s 2012 Investment and Vacation Home Buyers Survey, conducted in March 2012, includes answers from 2,241 usable responses about home purchases during 2011. The survey controlled for age and income, based on information from the larger 2011 NAR Profile of Home Buyers and Sellers, to limit any biases in the characteristics of respondents.

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for. It might sound surprising to a skeptical public, but culture was always a vital part of Goldman Sachs’s success. It revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients. The culture was the secret sauce that made this place great and allowed us to earn our clients’ trust for 143 years.

Click To View Full NY Times Article

Mr. Smith makes millions of dollars a year. Greg Smith is resigning today as a Goldman Sachs executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa.

Consider Prime Pinnacle,LLC for Alternative Secured Based Investments for your Financial Future & Retirement. www.primepinnacle.com

Why I Am Leaving Goldman Sachs

By GREG SMITH

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.

To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for.

It might sound surprising to a skeptical public, but culture was always a vital part of Goldman Sachs’s success. It revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients. The culture was the secret sauce that made this place great and allowed us to earn our clients’ trust for 143 years. It wasn’t just about making money; this alone will not sustain a firm for so long. It had something to do with pride and belief in the organization. I am sad to say that I look around today and see virtually no trace of the culture that made me love working for this firm for many years. I no longer have the pride, or the belief.

But this was not always the case. For more than a decade I recruited and mentored candidates through our grueling interview process. I was selected as one of 10 people (out of a firm of more than 30,000) to appear on our recruiting video, which is played on every college campus we visit around the world. In 2006 I managed the summer intern program in sales and trading in New York for the 80 college students who made the cut, out of the thousands who applied.

I knew it was time to leave when I realized I could no longer look students in the eye and tell them what a great place this was to work.

When the history books are written about Goldman Sachs, they may reflect that the current chief executive officer, Lloyd C. Blankfein, and the president, Gary D. Cohn, lost hold of the firm’s culture on their watch. I truly believe that this decline in the firm’s moral fiber represents the single most serious threat to its long-run survival.

Over the course of my career I have had the privilege of advising two of the largest hedge funds on the planet, five of the largest asset managers in the United States, and three of the most prominent sovereign wealth funds in the Middle East and Asia. My clients have a total asset base of more than a trillion dollars. I have always taken a lot of pride in advising my clients to do what I believe is right for them, even if it means less money for the firm. This view is becoming increasingly unpopular at Goldman Sachs. Another sign that it was time to leave.

How did we get here? The firm changed the way it thought about leadership. Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence.

What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym.

Today, many of these leaders display a Goldman Sachs culture quotient of exactly zero percent. I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It’s purely about how we can make the most possible money off of them. If you were an alien from Mars and sat in on one of these meetings, you would believe that a client’s success or progress was not part of the thought process at all.

It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as “muppets,” sometimes over internal e-mail. Even after the S.E.C., Fabulous Fab, Abacus, God’s work, Carl Levin, Vampire Squids? No humility? I mean, come on. Integrity? It is eroding. I don’t know of any illegal behavior, but will people push the envelope and pitch lucrative and complicated products to clients even if they are not the simplest investments or the ones most directly aligned with the client’s goals? Absolutely. Every day, in fact.

It astounds me how little senior management gets a basic truth: If clients don’t trust you they will eventually stop doing business with you. It doesn’t matter how smart you are.

These days, the most common question I get from junior analysts about derivatives is, “How much money did we make off the client?” It bothers me every time I hear it, because it is a clear reflection of what they are observing from their leaders about the way they should behave. Now project 10 years into the future: You don’t have to be a rocket scientist to figure out that the junior analyst sitting quietly in the corner of the room hearing about “muppets,” “ripping eyeballs out” and “getting paid” doesn’t exactly turn into a model citizen.

When I was a first-year analyst I didn’t know where the bathroom was, or how to tie my shoelaces. I was taught to be concerned with learning the ropes, finding out what a derivative was, understanding finance, getting to know our clients and what motivated them, learning how they defined success and what we could do to help them get there.

My proudest moments in life — getting a full scholarship to go from South Africa to Stanford University, being selected as a Rhodes Scholar national finalist, winning a bronze medal for table tennis at the Maccabiah Games in Israel, known as the Jewish Olympics — have all come through hard work, with no shortcuts. Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore.

I hope this can be a wake-up call to the board of directors. Make the client the focal point of your business again. Without clients you will not make money. In fact, you will not exist. Weed out the morally bankrupt people, no matter how much money they make for the firm. And get the culture right again, so people want to work here for the right reasons. People who care only about making money will not sustain this firm — or the trust of its clients — for very much longer.

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