Tony Martell Founder Of The TJ Martell Foundation Dies at Age 90

first_imgTony Martell, who founded the TJ Martell Foundation for leukemia, cancer and AIDs research in honor of his son T.J. who died after battling leukemia at the age of 19, has died.Tony Martell speaks at this years T.J. Martell Foundation New York Honors Gala held in OctoberMartell died in Madison, New Jersey at his home on Sunday, November 27, 2016. He was 90 years old.Tony Martell was a music industry senior executive from the 1960s to the 1990s working with musicians who covered a wide range of musical styles including jazz, rock, soul, pop, blues and heavy metal. His experience as an A&R Director, Record Label Vice President and Record Label Head could not eclipse his profound commitment to honoring the promise he made to his son many years ago – to find a cure to help others.Founded in 1975, the T.J. Martell Foundation has raised over $270 million dollars for innovative scientific research at flagship hospitals in the United States. Under Martell’s leadership the foundation has become the music industry’s largest foundation which funds innovative research focused on finding cures for leukemia, cancer and AIDs. Memorial plans will be announced soon. He is survived by his daughter Debbie Martell of Florham Park, NJ.last_img read more

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Leading Broker Housing Incentives Fastest Route to Economic Boost Improved Credit Rating

first_img Hurricane Jose Not A Threat to The Bahamas, For Now Facebook Twitter Google+LinkedInPinterestWhatsAppWith financial experts searching for ways to recover from last week’s stunning further downgrading of The Bahamas’ credit rating, a leading real estate broker today said one answer is right in front of our faces and up and down every block.According to Mario Carey, incentives to encourage a flurry of activity in the housing market, both new construction and sales of existing homes, will spur economic growth in a way that no other quick fix with long-term benefits can.“The housing market in Western societies is a leading predictor of economic health,” said Carey, founder and president of MCR, one of the country’s top property sales, leasing and management firms.“Strong sales mean a strong and healthy economy and when sales fall off, it’s just a matter of time until you see a slide in all aspects of an economy.”More than just an economic barometer, housing sales translate into jobs, he said.“Every home that is sold generates three full-time jobs, according to research commissioned by the National Association of Realtors in the U.S.,” said Carey. “Here that number would be even greater. In both places, the spin-offs from home ownership are enormous and create sustainable business activity. It is not just the fees generated by the move itself but the ongoing expenses the homeowner assumes – lawn and gardening services, painting, perhaps pool or roofing or plumbing, electrical, air-conditioning, furniture, décor, appliances. There are also the benefits to government from Stamp Tax. On a luxury property sale of $10 million, for example, government immediately collects $1 million in Stamp Tax. Incentives move people at every income level. If the Stamp Tax is reduced to 6% for a specified time, the buyer considering a purchase may be prompted to complete and save a substantial sum when they split the tax with the seller.”The highly successful broker who has handled more than one billion dollars in transactions in a career that spans three decades pointed to past successes when incentives were offered.“When the government offered Stamp Tax exemptions for first time home buyers, we saw a tremendous response,” Carey said. “Then when the first $250,000 of a purchase was exempted from real property tax and Stamp Tax, it was another incentive and when the interest on outstanding balances of real property tax forgiveness was announced, that drove hundreds to bring their past due tax bills up to date. Incentives work and there has never been a better or more important time to introduce them to spur the housing market which in turn will show diversification of the economy leading to a strengthening of our credit rating.”Carey has long argued that real estate should be recognized as the third pillar of the Bahamian economy, tying activity in the market to new construction, remodels, expansion and more. “If anyone doubts how critical home ownership is to a healthy economy, look at what happens when sales slump,” says Carey. “When the housing market collapsed in 2008, it took the rest of the economy down with it and we are still feeling the repercussions, though I believe the economy is beginning its slow climb back up for the middle to upper middle class family who was so hard hit by the economic freefall.“I encourage the government to appoint an ad hoc advisory committee comprised of real estate professionals, developers, financial institutions, the Bahamas Chamber of Commerce and a few successful businesspersons to report back in a relatively short period of time with recommendations for jumpstarting housing sales across the board,” said Carey. “I want to see the day when every Bahamian youngster coming out of school believes that he or she will own a home and that can be their reality. Home ownership is the single fastest route to economic prosperity. And it is one step we can take without damaging the environment or causing long-term negative impacts. It is time to explore the options.” Bahamian music legend gunned down at home in Turks and Caicos Recommended for you Bi-lateral talks with Bahamas to resume, UK gives green light to high-level TCI delegation Facebook Twitter Google+LinkedInPinterestWhatsApp Related Items:bahamas, bahamas real estate, mario carey, mcrlast_img read more

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ALERT 3 ON HURRICANE MARIA

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp Related Items: Facebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, September 19, 2017 – Nassau – ALERT #3 ON HURRICANE MARIA ISSUED BY THE BAHAMAS DEPARTMENT OF METEOROLOGY TUESDAY 19TH SEPTEMBER, 2017 AT 6PM EDT.…POTENTIALLY CATASTROPHIC HURRICANE MARIA IS EXPECTED TO PASS NEAR THE U.S. VIRGIN ISLANDS TONIGHT AND OVER PUERTO RICO WEDNESDAY…A  HURRICANE WATCH IS NOW IN EFFECT FOR THE SOUTHEAST BAHAMAS AND THE TURKS AND CAICOS ISLANDS.    THIS INCLUDES THE ISLANDS OF INAGUA, ACKLINS, CROOKED ISLAND, MAYAGUANA, LONG CAY, SAMANA CAY AND THE TURKS AND CAICOS ISLANDS.   A HURRICANE WATCH MEANS THAT HURRICANE CONDITIONS ARE EXPECTED IN THE MENTIONED ISLANDS WITHIN 48 HOURS.AT 5PM EDT, THE CENTER OF HURRICANE MARIA WAS LOCATED NEAR LATITUDE 16.8 DEGREES NORTH AND LONGITUDE 64.0 DEGREES WEST OR ABOUT 80 MILES SOUTHEAST OF SAINT CROIX, 175 MILES SOUTHEAST OF SAN JUAN PUERTO RICO, 268 MILES EAST-SOUTHEAST OF GRAND TURK THE TURKS AND CAICOS ISLANDS, 695 MILES EAST-SOUTHEAST OF MATTHEW TOWN INAGUA AND 1036 MILES EAST-SOUTHEAST OF NEW PROVIDENCE. MARIA IS MOVING TOWARD THE WEST-NORTHWEST AT 10 MPH, AND THIS GENERAL MOTION IS EXPECTED TO CONTINUE THROUGH WEDNESDAY NIGHT.   ON THE FORECAST TRACK, THE EYE OF MARIA WILL MOVE NEAR OR OVER THE U.S. VIRGIN ISLANDS TONIGHT, ACROSS PUERTO RICO ON WEDNESDAY, AND THEN PASS JUST NORTH OF THE COAST OF THE DOMINICAN REPUBLIC WEDNESDAY NIGHT AND THURSDAY.MAXIMUM SUSTAINED WINDS HAVE INCREASED TO NEAR 165 MILES PER HOUR WITH HIGHER GUSTS.   MARIA IS A POTENTIALLY A CATASTROPHIC CATEGORY 5 HURRICANE ON THE SAFFIR-SIMPSON HURRICANE WIND SCALE.    SOME FLUCTUATIONS IN INTENSITY ARE LIKELY DURING THE NEXT DAY OR TWO, BUT MARIA IS FORECAST TO REMAIN AN EXTREMELY DANGEROUS CATEGORY 4 OR 5 HURRICANE UNTIL IT MOVES NEAR OR OVER THE VIRGIN ISLANDS AND PUERTO RICO.    SLOW WEAKENING IS EXPECTED AFTER THE HURRICANE EMERGES OVER THE ATLANTIC NORTH OF PUERTO RICO AND THE DOMINICAN REPUBLIC. HURRICANE FORCE WINDS EXTEND OUTWARD UP TO 35 MILES FROM THE CENTER AND TROPICAL STORM FORCE WINDS EXTEND OUTWARD UP TO 140 MILES FROM THE CENTER.RESIDENTS IN INAGUA, ACKLINS, CROOKED ISLANDS, MAYAGUANA, LONG CAY, SAMANA CAY, AND THE TURKS AND CAICOS ISLANDS SHOULD RUSH TO COMPLETE  ALL HURRICANE PREPARATIONS AS THEY CAN BEGIN TO EXPERIENCE THE EFFECTS OF HURRICANE MARIA WITHIN THE NEXT 48 HOURS.    SMALL CRAFT OPERATORS IN THE SOUTHEAST BAHAMAS AND THE TURKS AND CAICOS SHOULD SEEK SAFE HARBOUR FOR THEIR VESSELS.THE NEXT ALERT ON HURRICANE MARIA WILL BE ISSUED AT 9PM TODAY.ISSUED BY: JEFFREY SIMMONS/MARY BUTLERlast_img read more

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