Monthly Archives: November 2018

The Austin Parks and Recreation Recycling Task Force and Rick Cofer

Austin’s Parks and Recreation Recycling Task Force has recommended a number of ways Austin citizens can most efficiently recycle. The Austin instituted RRTF to the end of implementing ways to help reduce waste in the city by 90 percent by 2040. This was seen as an important initiative after the council found that recycling was one of the lowest areas of efficiency in the city. The task force has presented two plans: A one year plan that would cost the city $1.3 million or a two-year plan that would cost it $802,500.

 

Both plans involve the purchase and installation of 800 receptacles and 900 signs; the hiring of a recycling program coordinator, parks ground specialist, and temporary employees; public education; and ongoing collection and hauling services. In October 2016, it tentatively started working on the preparations for this plan. It currently oversees 20,000 acres of land, 51 aquatic facilities, 26 recreation, and senior centers, and 700 employees. The plan will be started in earnest after the city has approved the plan. The task force is chaired by Rick Cofer.

 

For a decade prior to taking up this role, Cofer has led the Law Office of Rick Cofer since 2008. During that time he has handled thousands of felony, misdemeanor, and juvenile court cases. He has also had a vast amount of experience handling DWI, assault, family violence, drug possession, theft, and juvenile charges. He is active with much of Austin’s work. Besides its Parka and Recreation Task Force, Cofer helps lead the Kind Clinic, Pease Park Conservancy, Ending Community Homelessness Coalition. He has also been active in service of the Democratic Party on local, state and national levels for more than ten years.

 

When he is not busy in his professional or civil work, Cofer enjoys spending time in the great outdoors with his dog, Lady Bird. He plans to soon adopt a second dog which he will name Truman.

 

 

 

 

https://www.facebook.com/rickcoferlaw/

How SoftBank Group Acquired Fortress Investment Group

Late in 2017, a press release was issued regarding the SoftBank Group’s acquisition of Fortress Investment Group. This acquisition was a long time coming, and had been discussed earlier in the year by shareholders. The transaction was agreed upon by all shareholders, and it was completed by December 2017. Why did SoftBank Group seek to purchase the Fortress Investment Group?

The sale totaled $3.3 billion dollars in cash. That number is rather large considering that the investment group was considered to be one of the top investment groups in the country. The close of the transaction transferred all of the shares into the name of SoftBank Group, however the daily operations of the investment group would not change. There were outstanding shares in the Fortress Class A shares which were converted into a price of $8.08 per share. These shares were distributed according to a proxy that was agreed upon by all shareholders.

What happened to the stocks that were once under the name of Fortress Investment Group? All of those listed on the NYSE would now fall under the name and stocks listed for SBG. SBG also agreed that the outcome of this transaction as well as the impact of the transfer of stocks would be announced when necessary. There was also no change in regards to the partners. Randal Nardone, Peter Briger, and Wes Edens would all continue their work as usual.

The SoftBank Group has been what the industry calls a major player in the technology marketplace. With the increase in information overload and new ways of segmenting this information, the company wanted to get their piece of the pie by focusing more on funds that were tech driven. Needless to say, their acquisition of Fortress Investment Group was an unusual investment for them, and somewhat outside of their usual interests.

This was a step in the right direction to diversify their funds, and potentially carry business in real estate investments and other areas as well.

To know more click: here.