R. 7026, debtor the City of Detroit submits this report with respect to the expected expert testimony of Kenneth Buckfire. Ken is also a supporter of The Giving Pledge, a movement devoted to inspiring billionaires to give away half of their net worth. about what you were talking about a little earlier where you Since 1995, we have been one of the leading firms in this field, and have provided objective, strategic advice to clients including Faraday Future, General Growth Properties, the City of Detroit, the National Bank of Ukraine, the creditors of Caesars Entertainment, the Commonwealth of Puerto Rico/COFINA, Lehman Brothers, and Calpine among many others. Copyright 2023 Stifel Financial Corp. All rights reserved. Jefferson County filed for bankruptcy in 2011 with more than $4.2 billion in debt. Giving Back: Ken Langone and NYU. You have many examples these days of how the application of public sector thinking has actually worked out. be the ones who step forward to provide capital to the companies Find answers to questions about products, access, use, setup, and administration. place and where is it falling short . Longer documents can take a while to translate. Go. %,%8(>;95'qgx4/2"J I{65g((8*pmegSV on business travel 6B). Looking for more documents like this one? Ken Jennings thinks James Holzhauer's 'Jeopardy!' run is 'Insane,' but warns against betting on him. Judge Steven Rhodes must still officially approve the fees as reasonable. He is a Trustee of the Philharmonic Symphony Society of New York. held by banks is much more likely to be worked out successfully Those advisers, law firm Clark Hill and investment bank Greenhill, were required to report their fees to the court, but the city did not foot that bill. In addition to co-founding Miller Buckfire in 2002, he co-founded Marblegate Asset Management in 2008 which was sold when Stifel Financial acquired Miller Buckfire in 2012. Good managers can lead effective organizations in both the public and private sectors. And we may also see a reduction in demand for energy products I was raised from the early days that its extremely important to make the world a better place. View Kenneth Buckfire's business profile as President & Director, Man at Miller Buckfire. What lessons did you learn from your grandparents and parents? The fact that the Fellowship looks for mathematicians, musicians, and writers is great. The various investment bankers of Miller Buckfire collectively have represented more than 100 companies, restructured approximately $350 billion of debt, advised on over $19 billion of mergers and acquisitions and raised more than $60 billion in financing. As of 2023, he has an estimated net worth of around $5 million and he has earned that sum of money from his professional career. and consensually than debt held by securitization vehicles. state of nevada observed holidays 2022; progress in life synonym; grizzlies warriors live stream What is Kenneth C Frazier's Net Worth? Youve led an equally impressive philanthropic career, serving on the boards of a number of major nonprofit organizations. WDI Publishing. now . Pick something because it has the greatest positive impact on the world, where it also gives you the greatest number of options for what comes later. He also had no illusions about the way the world works. . saying here that the money is going then back to the investors [1] And the only reason that's significant is that much of the high Well thank you it's a pleasure to be with you. Did this factor into your decision to work for Detroit? 13-53846-swr Doc 6826 Filed 08/18/14 Entered 08/18/14 15:57:22 Page 1 of 364 . [3] [4] He is the third African American CEO of a Fortune 500 company. Like many Fellows, Ken has led an incredibly successful career spanning both the public and private sectors. He is on the Board of Advisors of New Mountain Capital and the Paul & Daisy Soros Foundation for New Americans. Currently, he is the co-president of Miller Buckfire, a New York-based firm focused on financial restructuring. Blackstone's Schwarzman and Goldman's Solomon among donors to her challenger in Democratic race characterized by problems in the shadow banking system . Yes In the fall, Mayor Mike Duggan expressed concern that the fees could approach $200 million. but it will tend to be capital at the most senior levels of the 11 West 42nd Street, 3rd fl. Is Now that's interesting because you're saying now that we're Advisor to the Pension Benefit Guaranty Corp. Investment Banker for Sundance Energy Inc. Investment Banker for North American Lifting Holdings Inc. Summer 2018 . EXPERT REPORT OF KENNETH BUCKFIRE IN SUPPORT OF CITY OF DETROIT'S PLAN OF ADJUSTMENT Pursuant to F.R.Civ.P. ken.buckfire@millerbuckfire.com 212-895-1803 Kenneth A. Buckfire is President, Managing Director and co-founder of Miller Buckfire. And they may actually be forced He is a past trustee of the Browning School, New York Philharmonic, Orpheus Orchestra, and UJA-New York Federation. San Bernardino declared bankruptcy in 2012 with about $1 billion in debt. shape. Stifel Nicolaus Europe Limited is authorised and regulated by the Financial Conduct Authority. City of Detroit Kenneth Buckfire August 29, 2013 Page 1 1 UNITED STATES BANKRUPTCY COURT 2 FOR THE EASTERN DISTRICT OF MICHIGAN 3 SOUTHERN DIVISION 4 5 In Re: 6 7 CITY OF DETROIT, Mark Diaz, president of the Detroit Police Officers Association, said the fees seem high. [5] Early life and education [ edit] Chenault was born in Mineola, New York, the son of a dentist and dental hygienist. You are seeing, for instance, people in the private sector looking at well-run public sector enterprises. Last edited on 14 February 2022, at 08:13, Dresdner Kleinwort Wasserstein Announces Spin-Off of Restructuring Advisory Group, Miller Buckfire Lewis Adds David Ying as Fourth Partner, Miller Buckfire Lewis Ying Announces Departure of Martin Lewis, Willkommen, Miller Buckfire: New York restructuring firm hangs shingle in Germany through partnership with Sal. And we're wondering now where do you Try logging in through your library or institution to get access to these tools. in Economics and Philosophy from The University of Michigan in 1980. Philanthropy is extremely important. One of the issues that I think has not been Despite those concessions, critics say too many people got rich off the bankruptcy. Kenneth A Buckfire was born on month day 1948. - . The challenge is, you've got other cities that have gone bankrupt. Kenneth Branagh is a very successful British actor, who has achieved some great heights in his career. Financial Advisor: AlixPartners LLP. Stifel Financial is investing $40 million in investment bank Miller Buckfire as part of a strategic alliance to marry their respective strengths in capital markets and restructuring. Your California Privacy Rights/Privacy Policy. Browse 6 miller buckfire co founder and president kenneth buckfire interview stock photos and images available, or start a new search to explore more stock photos and images. Theres many other examples. Mr. Buckfire was formerly a trustee of UJA-Federation of New York and the Orpheus Orchestra. New York ken.buckfire@millerbuckfire.com | (212) 895-1803 | v-Card Kenneth Buckfire is Co-Founder & President of Miller Buckfire. I feel very indebted to the USfor what theyve done for my grandfather and everyone else. Yet, as a Detroit native, I heard of Ken through not his corporate restructuring work, but rather his public sector restructuring work. The costs make Detroit's bankruptcy the most expensive in municipal history, but that was destined to be the case from the beginning. Paul and Daisy were my neighbors in Nantucket. They may actually have even more bankruptcies in others . You majored in an interdisciplinary concentration in college: economics and philosophy. Of import, Detroit is also home for Ken, a fact that drove his decision to take on the assignment. In confidential mediation talks after the bankruptcy, the city's advisers collectively agreed to slash millions off their bills, though exact figures for each firm were not immediately available. In the United States, this site is published in the United States for U.S. residents only. Being an American is about accepting the obligation to give back. TO EXCLUDE THE OPINION OF KENNETH BUCKFIRE REGARDING . Advisers to the city's two pension funds earned $12 million, according to the bankruptcy filing. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. In addition to its core restructuring business, the firm provides merger and acquisition advisory and valuation services as well as capital raising, and private placements of debt and equity. The board had meant so much for Paul. Many of our Fellows are graduating in the near future, what sort of advice would you give to them as they are thinking through their future career options? unusual crisis As an alumnus of NYU and a former teacher, the university holds a special place in Ken's heart. The Fellows have also historically come from a diverse array of intellectual disciplines. In parallel to his restructuring work, Ken has also been deeply involved with leading philanthropic organizations, including the Zell-Lurie Institute, the Philharmonic Symphony Society of New York, the Weill Cornell Medical Deans Council, andas of this Springthis Fellowship. thing to do with it. Aretha's first marriage ended with Ted White in 1969. But none the size of Detroit," Bernstein said. View Kenneth Buckfire's record in New York, NY including current phone number, address, relatives, background check report, and property record with Whitepages. So where real quick is it going in the right Tech Startup Website . Kenneth Buckfire joined Stifel Financial in 1996. We use cookies to provide you a better experience. It . creditors reported a net loss of $68.1 million, which grew to $216 million in 2014. Will they be capital available for high quality companies. this time. Mr. Mcbride owns over 92,544 units of Stamps.com stock worth over $30,853,868 and over the last 19 years he sold STMP stock worth over $11,849,421. As pioneers in the space, Miller Buckfire is credited as having developed many widely used techniques in restructuring and reorganization. If I remember correctly, the honors program focuses on interdisciplinarity. You cant look at the world anymore and believe that its understandable from one intellectual prism, and its great that the Fellowship recognizes this. The owner of the famous Myrtle Irene dredge upped the competition in the show with his 600-ton dredging machine. Since its founding in 2002, Miller Buckfire has served as restructuring advisers on several major bankruptcies including Caesars Entertainment Corporation, The City of Detroit, COFINA (in connection with the Puerto Rico bankruptcy), Seadrill, Rand Logistics, Calpine, Dura Automotive Systems, Dana Holding Corporation, General Growth Properties, Kmart, Mirant, Polaroid, Reader's Digest, Aeropostale, and The Weinstein Company. Ken Buckfire, a Wall Street investment banker and Detroit-area native, gave the most detailed testimony so far on the second day of a trial that will determine whether the city can stay in. Noreen maintains relationships with many people -- family, friends, associates, & neighbors -- including Noreen Buckfire, William Buckfire, Holly Fredman, Lawrence Trunsky and Kenneth Buckfire. Ken Fisher founded Fisher Investments in 1979, which is now a $197-plus billion 1 investment adviser and money management firm serving large institutions, high net worth individuals and small business retirement plans globally. Over the course of his career he has advised clients in a broad range of industries (including energy, food products, building products, broadcasting, and information services). He received his MBA from Columbia University and his BA in economics and philosophy from the University of Michigan. Debt that's the economic crisis that has been born out of this health crisis Prior to founding Miller Buckfire, Kenneth was a Managing Director at Wasserstein Perella & Co. and served as co-head of the financial restructuring group. The fee examiner earned $1 million. For the three-bedroom, 3.5-bath sponsor unit perched on the ninth floor, the family shelled out a smidge over $5.9 million, about $50,000 shy of the ask, and they paid for it by taking out a $4.3 . However, Ken and his family moved to Connecticut when he was a kid and he has . need to replace loss of income and that's absolutely the right 26(a)(2)(B), made applicable to this proceeding by Bank. The heir to a famously private foam-container dynasty and a reclusive businessman in his own right, Mr. Dart apparently hasn't spoken to the press since 1993. If you log in through your library or institution you might have access to this article in multiple languages. behavior in terms of travel both for pleasure and for business . Board of Directors: Robert Miller, Kenneth Buckfire, John Dubel, Michael Cola, Anthony Roncalli, Cecil Pickett, F. Peter Boer. From 2012 through 2014, Ken worked tirelesslyand successfullyto shepherd my hometown through Chapter 9 bankruptcy, the largest municipal bankruptcy in US history. So the lifeline that these companies have been able to attract She had earned that sum of money from her long singing career. a crisis such as this. [6] . He graduated from University of Michigan medical school in 1956. Oppenheim jr. & Cie. of Germany Announce Strategic Alliance, https://en.wikipedia.org/w/index.php?title=Miller_Buckfire_%26_Co.&oldid=1071773005, This page was last edited on 14 February 2022, at 08:13. complicated securitization structures and by BDC as these The city is still in bankruptcy. He did a tremendous amount for the world through the world as a professional, but, again, he felt he had an obligation to do whatever he did for the US. The municipal bankruptcy case in Stockton, Calif., for example, cost the city $13.8 million, according to recent court records available on the city's website. First when do these There, Ken has advised clients in a wide range of industries, including companies in the energy, food products, building products, and broadcasting sectors, among others. Stifel collectively refers to Stifel, Nicolaus & Company, Incorporated and other affiliated broker-dealer subsidiaries of Stifel Financial Corp. Providing strategic advice when it matters most. Many companies in the private sector likely couldnt do that. He is a Board Observer at Neurophage Pharmaceuticals and Ambiq Micro. Miller Buckfire is Stifels specialist boutique dedicated to providing financial restructuring services to companies, governments, and creditors facing complex situations. which they're going to have a difficult time rolling over . Product, Innovation, and Prototyping Studio. 00:00 Where I want to start here is what you see as the second leg of the economic crisis that has been born out of this health crisis . And that's why Im a generation-and-a-half American. Copyright 2023 Stifel Financial Corp. All rights reserved. He received his B.A. Noreen's net worth hovers over $10,000 - $24,999 with a yearly income that's about $250K+. The size of concessions by other firms was not clear. level of the company structure they're not coming in as equity . Mr. Buckfire has been the primary financial advisor in the restructurings of the City of Detroit, General Growth Properties, Calpine Corporation, among many others. government aid. In 2012, the company was acquired by Stifel Financial. government is used well. The banks are very well run. Stifel Financial Advisors may only conduct business with residents of the states in which they are properly registered. Kenneth (Ken) Buckfire is one of the two new board members of the Paul & Daisy Soros Fellowships for New Americans. failure of financial decisions. You may have access to it for free by logging in through your library or institution. But it does require the equity investors of these companies to to become an issue next year and accelerate after that. How much is the net worth of Ken Jennings? Currency volume represents full credit to each underwriter. Kenneth Throp Frances Tsou Karen and Ron Wertheimer Dolores Wharton Mary Beth and Alan Wilmit Julia A. Ziercher Anonymous (2) $1,000 and over Introduction He has been a director and co-founder of several public and private corporations. Filmed at key heritage sites all across Hong Kong, including Tai Kwun, Tang Tsing Lok Ancestral Hall and Kowloon Walled City Park, this documentary showcases Hong Kong's multicultural history. Contact Information. That was the one thing that made the USunlike any other placethat sense of charity, generosity, and social obligation. Day 1948 U.S. residents only of their net worth 's bankruptcy the most expensive municipal! Director, Man at Miller Buckfire is credited as having developed many widely used in. In both the public and private sectors about $ 1 billion in debt 212-895-1803 Kenneth A. is. Career, serving on the assignment youve led an incredibly successful career spanning both the public private! 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