Monthly Archives: October 2018

Dick Devos and His Wife are Working For Change

Back in 1991, the city of Grand Rapids, Michigan was facing a major decision that would affect its future for years to come. The city was deciding on whether or not to build the city’s new convention center and arena inside or outside of downtown. At that time, Dick Devos was working in his family’s business called Amway. Mr. Devos called the city leaders and told them that he thought that building the center outside of downtown would take Grand Rapids on the same trajectory as Detroit. The city leaders listened to Dick Devos’ advice, and the center was built downtown. This began a revival of the downtown area that continues today.

 

In 1993, Dick Devos took over as CEO of Amway. During his time at that company, he used his position to continue to help the Grand Rapids area, and he advocated for important causes that he and his wife believed in.

 

One important part of Dick Devos and Betsy Devos’ lives is the couple’s philanthropic activity. The couple have donated millions of dollars for the betterment of the Grand Rapids area. Donations have been given to help build the children’s wing of the local hospital, and the Devos’ have given substantial gifts to educational and religious institutions in Grand Rapids and the state of Michigan.

 

Dick Devos has been highly-involved in the areas of educational and labor reform. Mr. Devos and his wife believe in school choice, and they have worked to build charter schools in order to provide quality educational opportunities for all citizens of Michigan. In fact, Mr. Devos helped to develop a charter school with an aviation theme that is located at the Gerald R. Ford International Airport in Grand Rapids.

 

Mr. Devos has worked to provide school voucher programs in the state of Michigan. His efforts in regard to school vouchers have been particularly successful outside of the state. Currently, almost half of the states now have some type of school choice program in place.

 

Labor reform is another area that has received Dick Devos’ attention. Michigan is considered the bastion of the union movement. However, Mr. Devos believed that mandatory union membership was holding back the state. He sought the passage of a right-to-work law, and his efforts met with success.

 

Dick Devos continues to work on behalf of the causes that he believes in. He wants to add to his legacy of helping the state he calls home.

 

Read http://dickdevos.com/news/ to learn more.

Fortress Investment Group Utilizes Open-End Funds

The Fortress Investment Group is boosting what it has to offer for investors using direct lending through a private credit effort. It has also teamed up with another funding agency that puts their money into intellectual property, aircraft leases, real estate, and other various types of debt. Fortress Investment Group is owned by SoftBank Group. Their hope is to stop the direct-lending fund in October of this year for over two billion dollars.

The company already has over four hundred million dollars. Their overall demand has increased by another one hundred million and the company is reaping many benefits. A private credit market can open a lot of opportunities up for lenders. When it comes to private credit, the payoffs from lending are better for small to medium companies. Because of this, it is attracting these companies that in turn bring a lot of revenue.

To understand the success of the business, it is important to understand what an open-end asset fund is. Essentially, this is a mutual fund that has no restrictions on shares for bonds or stocks. This is good for investors because it makes the overall process of investment more convenient and easy. There is a manager for each fund and should they decide that the total assets of said fund are too large, they may shut off the fund from new investors.

If this happens, in some cases, new investors may not be able to add to their investments. The shares are bought and sold on demand in accordance with the net asset value which is based on the total securities of the fund. At the conclusion of each business trading day, the total value is calculated. Depending on the value and numbers from that day, some of the fund’s investments can be sold off and the money the raise is used to pay investors.

Not only does this give investors an easy way to combine all of their money, it also helps each person to diversify their investment portfolio. There are many benefits of open-ended investing. There are some things to be aware of for investors though, such as the fact that open-ended funds are not super regulated and interest rates may rise and fall. Fortress Investment Group hopes to mitigate this with credit options and opportunities for new purchasers. It is thought that Fortress Investment Group will top $5.5 billion at the start of 2019.