Greg Hague and the 990 Company

Based in Scottsdale, Arizona, Greg Hague is a renowned businessman, lawyer, real estate consultant, and entrepreneur. Throughout his professional career, Greg Hague has made an impact in multiple areas. An examination of his life and career trajectory is a helpful read for anyone interested in breaking into the real estate field.

Originally from Cincinnati, Ohio, Greg Hague graduated from Miami of Ohio University in 1971 with a B.S. degree. In 1974, he graduated with his Juris Doctorate from American University’s Washington College of Law. Having received his first license to practice real estate at the tender age of 18, Hague practiced real estate throughout his undergraduate years and continued practicing throughout his time in law school and beyond.

In 1978 after several years of working in the family real estate business, Hague struck out on his own and founded his own real estate company, Heritage House Real Estate. The early precursor to the 990 Company, Heritage House Real Estate grew rapidly and by the end of its first year had 11 offices and over 220 listing agents. Due to the volatility of the market and the economic climate of the time, Heritage House Real Estate went out of business in 1980.

Shortly after his business went bust, Hague relocated to Scottsdale, Arizona in 1981. In 1988, Hague founded WHY USA, a real estate company which helped home owners sell their homes for a low price of $990. Previously unheard of at the time, the model became hugely successful and was ultimately franchised across the country in over 100 United States cities.

Most recently, Hague is the founder of the 990 company, named in homage to the original principles on which WHY USA was founded. Gregory Hague’s career in real estate and his continuous work through the 990 company serve to illustrate the level of leadership he provides to the real estate industry as a whole, and how homes sales need not be a bank breaking endeavor.

Shaygan Kheradpirs History of Stellar Managerial performance at Verizon

Shaygan Kheradpir is a renowned business and technology executive. All through his career he has created mission-driven teams to deliver change that is needed by the clients, employees, investors, and the community at large. He has traversed, integrated and innovated at the boundaries of the conventional practices across numerous industry sectors worldwide. He is at present the CEO of Coriant.?

Shaygan Kheradpir acquired his bachelors, Masters and doctoral degrees in electrical engineering from Cornell University. Prior to being appointed to the current position as the CEO of Coriant, he had held administrator ranks with major corporations at Verizon, Juniper Networks Barclays and GTE. In all these places he’s left his footprints with several product developments and cost-effective initiatives.?The first job that Shaygan Kheradpir acquired was at GTE Laboratories in the year 1987. While here he was tasked to work on network routing, control and management. He eventually got to the top of the departmental echelon to be appointed the chief information officer at GTE. The Wall Street Journal heaped praise on him as the CTO “earning respect for delivering new products on schedule.”

When the merger of GTE with Bell Atlantic took place in 2000 to form Verizon Communications, Shaygan Kheradpir first served as the head of Verizon’s electronic business division. It was only moments before he became Verizons first CTO. At the company, Shaygan Kheradpir made numerous positive contributions to the companys variegation into a wider scope of telecommunications services. With him also came the automation of operations at his department.?

In 2001, Kheradpir took initiative to form a number of teams at Verizon that were each given the task of coming up with new product ideas as well as improving existing ones. The teams were working following a 30-day prototype cycle implemented by Kheradpir to try out and modify new technologies being developed. At the end of the grueling task, his team made it possible for Verizon’s FiOS fiber optic video initiative and related DVR to come into fruition.?In 2003 his came up with the iobi, which handles the address books, caller ID and other phone features across devices. The following year his department introduced the Verizon One which had been their subsequent project. It is a combination phone, modem, router and portable device.?

His division also redesigned and improved many of Verizon’s indispensable core systems such as the call center, company website, automated customer service system. During the merger some of the systems were still operating as separate entities. Under his leadership, his division bought together the formerly separate systems from their former parent companies Bell Atlantic, GTE and NYNEX.?

During Kheradpir’s term in office at Verizon, the company managed to scale down its IT budget requirements from six percent of revenue which is the industry average to four percent. He negotiated intensely with tech vendors to lower their prices and campaigned for Verizon to repeal the company policy that is against the purchasing of IT equipment being auctioned on eBay. In addition, new software was installed that improved Verizon’s functionality of IT hardware. ??

Ken Griffin: Art Collector, Philanthropist, and Investment Banker

Investment banks use a wide variety of strategies to earn a profit for their clients. Some of these methods are based on tried and true methods like “buy low, sell high”. As more sophisticated technology and information have allowed the market to react faster and with increasing precision, a new philosophy has been making it way into the field.

Investment banks are unlike the corner retail bank you use to deposit your paycheck and draw money to buy food. These banks have the purpose of helping their clients obtain capital and manage their client’s assets with the expectation of earning a profit. Different investment banks may specialize in one type of transactions (for example, mergers and acquisitions), or in one type of investment strategy.

Citadel is an investment bank based in Chicago that is known for its convertible bond arbitrage strategy. This investment on is based on the simultaneous buying of convertible bonds and short selling the underlying security. In short, convertible bonds are corporate loans that are backed by and can be converted to stock in the issuing company. A short sale occurs when an investor sells a stock he does not own for delivery at a future point in time. For example, you may short a stock of a company receiving $50/share, with the delivery of that stock in thirty days. If during the thirty days the stock’s price falls to $40, the short seller would buy it at the lower price and the difference would be the spread between the $ 50 received and the $ 40 paid.

In convertible bond arbitrage, the same thing happens, but the stock price is based on the convertible price stated in the bond’s terms. By using this basis, the transaction is less subject to the whims of the market and relies on the premise that the bond’s underlying security is inefficiently priced relative to the market.

The idea of convertible bond arbitrage was developed by Ken Griffin, the founder and CEO of Citadel. Griffin was born in Daytona Beach, Florida in 1968. He started trading stocks during his freshman year at Harvard University. By the time he earned his degree in economics and graduated, Griffin had over one million dollars in assets he was managing.

After graduation, Griffin agreed to manage a fund of $1 million for Frank C. Meyer, an investor and founder of Glenwood Capital LLC. It was reported that Griffin’s strategy was so successful, Meyers earned in excess of a 70% return on his investment.

Using a little under five million in seed capital, Griffin launched Citadel in 1990. Within eight years, he had over a hundred employees and was managing a billion dollars in assets. Today, Griffin is listed as having a net worth in excess of $6.6 billion. Recently he donated $150 million to Harvard to provide student financial aid, the largest single donation up to that time.

Griffin is active in a number of other endeavors. He is an avid art collector and recently purchased a painting by Paul Czanne’s for $60 million. He has donated large sums to many Chicago area museums and loaned out a number of pieces from his collection for public display, including the Cezanne. Griffin has also partnered with the Bill and Linda Gates Foundation to support a charter high school in Chicago and education is the focus of many of his charitable activities.