Senators challenge NY Fed’s bank oversight

Senators challenge NY Fed's bank oversightWilliam Dudley, president and CEO of the Federal Reserve Bank of New York, testified at a Senate hearing Friday. AFP PHOTO ERIC PIERMONTERIC PIERMONT/AFP/Getty Images ORG(Photo: ERIC PIERMONT, AFP/Getty Images)In a sharply contentious Senate hearing, New York Federal Reserve Bank chief William Dudley on Friday denied lawmakers’ claims that it’s too cozy with the banks it regulates and fosters a culture that squelches dissent.

Read More >

The Upside of Jet Lag

The Upside of Jet LagMost people will tell you that sunset is the optimal time to visit Humayun’s Tomb, the red-sandstone-and-white-marble mausoleum in Delhi that inspired the Taj Mahal. (To my eyes it’s even more beautiful than its successor.) Me, I’m partial to sunrise. In this otherwise chaotic city, it’s one of the rare peaceful times to explore its acres of Persian-style gardens planted with mango and lemon trees.Wandering the grounds one morning, enjoying the quiet while nibbling from a pack of shortbread cookies I’d grabbed from my mini-bar, I had the place to myself. Birdsong mingled with the whistles of distant trains and the aroma of jasmine, cut grass, and, from somewhere in the city, burning plastic. (This was still Delhi, after all.) Across the treetops, a brown sun peeked over a hazy brown horizon. Behind the mausoleum I passed the only other human on the premises: a groundskeeper trimming hedges with a scythe. He nodded at me and smiled. At that moment, from high in a banyan tree, two dozen macaque monkeys started to shriek and screech. En masse, they began dropping from the branches, floating to the ground like paratroopers—and suddenly a band of simian zombies was rushing straight at me. In no time, five or six were on my shoulders, swiping at my arms and tugging at my hair.

Read More >

DiamondRock to acquire The Westin Beach Resort & Spa, Fort Lauderdale

DiamondRock to acquire The Westin Beach Resort & Spa, Fort Lauderdale
BETHESDA, MD. – DiamondRock Hospitality Company announced that it has entered into a purchase and sale agreement to acquire the fee simple interest in The Westin Beach Resort & Spa, Fort Lauderdale in Fort Lauderdale, Florida for a purchase price of $149.0 million (or $345,000 per guest room). The purchase price represents a 12.0 to 12.5 multiple on the company’s projected 2015 Hotel earnings before interest, taxes, depreciation and amortization (“EBITDA”). The transaction, …

Read More >

SAS signs agreement for regular bio-fuel powered flights

SAS signs agreement for regular bio fuel powered flights
SAS has, along with the Lufthansa Group and KLM, signed an agreement with Statoil Aviation for a regular supply of bio-fuel at Oslo Airport. SAS was first off the ground in Norway and from Stockholm Arlanda in Sweden with a bio-fuel mix around a week ago and this agreement shows the airline takes its corporate social responsibility seriously in reducing its green house gas emissions.

Read More >