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Masters in Business

Masters in Business

Bloomberg02-05-2025
Barry speaks with Sander Gerber, Hudson Bay Capital CEO and CIO. Hudson Bay is a global, multi-strategy investment firm. In 2008, Mr. Gerber developed the Gerber Statistic, which was accepted as an innovation complementary to his own work by the late Dr. Harry Markowitz, the Nobel Prize-winning economist and father of Modern Portfolio Theory (MPT). The Gerber Statistic is utilized by Hudson Bay to identify the co-movement of financial assets, enabling early detection of concentration risks and insufficient diversification. Mr. Gerber began his investment career in 1991, as a member of the American Stock Exchange working as an equity options market maker. In 1997, he founded Gerber Asset Management to develop and engage in proprietary investment strategies. In late 2005, Mr. Gerber and Yoav Roth co-founded Hudson Bay Capital, which concentrates on generating positive returns while maintaining a focus on risk management and capital preservation.
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D.C.'s Activist Hub Busboys and Poets, 20 Years In
D.C.'s Activist Hub Busboys and Poets, 20 Years In

Eater

time6 hours ago

  • Eater

D.C.'s Activist Hub Busboys and Poets, 20 Years In

is a James Beard Award-winning food and travel journalist, cookbook author, and Senior Editor at Eater. Her work has been featured in the New York Times, Food & Wine, Travel + Leisure, Saveur, and others. In 2013, when I was 21 years old, I traveled with my Model African Union team from the University of Houston to Howard University in Washington, D.C. Trayvon Martin's murder the year before had a sweeping impact on me and my classmates — all of us ignited with a charge to have an expert-level understanding of our Black history, and the tools to make the world a better place once we graduated. We discussed these issues with our professor at Busboys and Poets, known as the intellectual hub of D.C.'s Black, immigrant, and progressive community. At the time, this was the spot to be in D.C., according to my professor, and to the coolest and most elite of the progressive 'Chocolate City.' Being in that space made us feel like we were Texas's coolest college students. The walls of vivid, colorful artwork enchanted us. Bookshelves filled with works from Toni Morrison, James Baldwin, and Zora Neale Hurston grounded us. And the conversations we had over shrimp and chicken chorizo pasta (to this day, still my favorite thing on their menu) nourished us as we became more and more inspired about the lives that potentially lay ahead of us. Iraqi American immigrant Andy Shallal opened Busboys and Poets in 2005. Since then, the restaurant-bookstore-community space has led with progressive ideals first, and has been patronized by politicians, musicians, and college students; it's hosted the likes of Angela Davis, Harry Belafonte, Alice Walker, and Howard Zinn. But Busboys' tenure thus far hasn't gone without challenges: As a business centered around Black culture and activist ideals owned by a non-Black man, it's been the center of contention and has endured internal and external changes. But the mission and values of Busboys remain ever present, and thus far, its reputation within a conscientious group of diners continues. I recently spoke to Shallal about opening the business amid the United States invasion of Iraq, operating a space anchored by Black history as an Iraqi American, and the importance of combining food and activism in the restaurant space. The restaurant, internet cafe, and bar section of Busboys and Poets in 2005. Susan Biddle/The Washington Post via Getty Images The Busboys dining room today. Busboys and Poets Eater: Why open a restaurant that's also a bookstore and a place for community engagement? Andy Shallal: I always imagined a place like this, and I wanted to create a place that I didn't find elsewhere in the Washington Metropolitan Area. Restaurants in particular and gathering places like this are perfect for the type of conversations that we need as a society to bring people together. People ask us this a lot, so I wrote about my experience of being in the country in my memoir, A Seat at the Table: The Making of Busboys and Poets. It talks about my upbringing in this country, the way that I was exposed to politics, to race, to different parts of the restaurant business, and the decision to bring all of those elements into one place. This is clearly a space rooted in African American ideals, activism, and intellectualism. Was there any particular part of your upbringing or childhood that made you particularly invested in the Black American experience? It was more about how race plays out in every part of life in this country, and I experienced that because of the way I looked: different. I wasn't white; I was mistaken for Black many times in many spaces. I started to understand — I was almost like a fly on the wall, hearing what the other side says about the other side — and started to understand this race issue. We sometimes say it's just a social construct, but it has huge ramifications on someone's upbringing, and where they live, who they date, whether or not they get in trouble with the police, how much income they make, their health. Everything is really focused around this social construct that we call 'race.' I was trying to understand it. How is it possible that something so constructed has so much impact on one's life and outcomes? It's always been at the forefront of my social and political interactions because of my experiences coming to this country as a child and experiencing race firsthand: Being called the n-word when I didn't know what that meant; being called terms attributed to light-skinned Black people, when I didn't know what that meant; being, for a time, uncomfortable to associate with any particular group at the cafeteria, because I didn't fit in with anyone. It was difficult, managing and navigating the racial undertones of this country, and I wanted to create a place for people to come into and be able to interact with one another without feeling uncomfortable. Can you tell me about the earliest days of Busboys and Poets? What was going on in D.C.? It was shortly after 9/11. Being an Arab and a Muslim, I felt very much like an outsider, and I really wanted to find my tribe. So I started thinking of creating a place that is welcoming to people who, historically, have been unwelcome in these types of places. And I started searching for a space in D.C. I wanted it to be in an iconic location: The U Street Corridor, at one point called Black Broadway, was ideal. I found the place and decided to just go from there. I tried to create a place that would become a hub for activists, for people who believe a better world is possible, for people who feel that being marginalized and being a country that's always going to war is not necessarily the way to go. I wanted to bring in the dreamers, the people who believe in a better world. I created it with a bookstore at the front; a lounge for people to interact and hang with people, a space in the back for poetry, author talks, and panel discussions; murals and artwork that represent the various types of people that make up our country, and the values we hold. At that time, the Iraq War was in full force. When we were opening, it just happened that one of the largest anti-war marches was taking place here in D.C. I've been an activist most of my life, and so I was fairly known in the peace movement in this arena. We had the peace and justice movement basically hanging out here days before and after the march. And people responded positively. The Busboys and Poets menu circa 2011. The favorite shrimp and chicken chorizo pasta was $16 then — it's still on the menu at $25 now. Pizza is no longer available, replaced with a section on the current menu of vegan bowls. Busboys and Poets isn't a traditional restaurant. What makes this space so distinct? There's no minimum expense to be here; you don't have to spend any money. You can hang out, drink water and enjoy some of the programming we have; 90 percent of it is free of charge. People come in and listen to amazing authors and talks just by showing up. I wanted to make sure the food was really good, because if you don't have really good food, people are going to eat before they get here. It's open to the public, and it's open all the time. From the beginning, I wanted to make sure that the food was accessible to as many people as possible. We have a handful of meat options, but a lot of our food is vegetarian, vegan, and plant-based. We opened in 2005 with vegan options; we were one of the first places that offered vegan and vegetarian food options in the city. There's a full range, not only of choices of food, but choices of prices. What was getting investment like to open the space? When I first was getting ready to open this place, I went to different banks looking for a loan, and many turned me down: Bookstores didn't make money. Coffee shops didn't really make that much money. Panel discussions of anti-war activism weren't going to make money. None of these things, in their mind, seem to make money. But bring them all together, and the synergy that creates is what I was looking for. Intuitively, I knew that would work. Finally, Industrial Bank agreed and went ahead and gave me the loan that I needed to get started. So, you opened the flagship location on 14th and V Streets, NW, which also happens to be the first location I visited when I was a college student. What does Busboys look like now? Once I got started and people saw how the business was, those banks that turned me down before were knocking on my door, telling me that they wanted to lend me money. So it's funny how that works. I was approached by developers and other people who said, 'Oh, you should open a place in my neighborhood. You should open the place here.' Slowly but surely, we started opening several places – we're up to eight so far. We have eight locations now in the D.C. area — two in Maryland and one in Virginia. But I didn't start with the intention of opening more places. Around 2008, the Washington City Paper used to do a Reader's Choice [award], and they asked the readers what would be their favorite place to take an out-of-towner. They ranked Busboys and Poets over the National Mall, which I thought was fascinating. That was a really big moment, where people really did see us as a place that represented D.C. The Busboys datebook from the week of September 4, 2006, when the restaurant celebrated its first anniversary. Busboys and Poets You're running a restaurant vocally rooted in activism during this current administration, just blocks away from the White House. How have you and your team grappled with the current and previous challenges at the restaurant? We've gone through many different iterations and issues that we've had to face, not the least of which was, of course, COVID. With the first Trump administration and the changes in the energy of the city, this was also very challenging. It's the people's business. It's a service. During the second Trump administration, we have become that much more important for people. The fact that there is a space that is safe, that people come to and retreat from the insanity that's around us, I think, is really one of our strengths. Dealing with issues of Palestine, dealing with issues of what's happening with this administration, and the DEI debacle that's taking place, dealing with all of the anti-immigration sentiment, eliminating taxes on tipped wages, and so on: policy and other issues not only happening here locally, but also nationally. So I am aware that you know, as you grow bigger, your responsibilities get more serious, and we are getting bigger. What do you see for the future of Busboys and Poets? I really want to be at the forefront of progressive ideas and progressive policies. So, whether it's making sure that immigrants are safe, making sure we source our food well, use green energy, and so on. I want us to be able to continue to do the work that we do. I think all of these things are important. Speaking up on international issues is important. We have a voice, we have a platform, and I want to make sure that it's used judiciously in a way that's going to really make the world a better place. This interview has been edited and condensed for clarity. Sign up for Eater's newsletter The freshest news from the food world every day Email (required) Sign Up By submitting your email, you agree to our Terms and Privacy Notice . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Rose Quarter Improvement Project's $450 million in federal grants in question, ODOT says
Rose Quarter Improvement Project's $450 million in federal grants in question, ODOT says

Yahoo

timea day ago

  • Yahoo

Rose Quarter Improvement Project's $450 million in federal grants in question, ODOT says

Editor's note: This story was updated to more accurately reflect the status of the federal grant money. PORTLAND, Ore. () — Hundreds of millions of dollars of federal grant money set aside for the Rose Quarter Improvement Project is now in question after the recent passage of President Donald Trump's spending and tax bill, officials said. Federal grants totaling $450 million was originally awarded to the project, according to the Oregon Department of Transportation. However, now over $400 million of that amount could be at risk of being rescinded, officials said, though ODOT is still trying to clarify this with the Federal Highway Administration. The money was promised as part of the Reconnecting Community and Neighborhoods program for restorative projects for infrastructure across the nation. Oregon music festival to conclude with 2025 event With Congress' approval of Trump's 'Big, Beautiful Bill,' that federal grant money could be at risk of being eliminated, according to Rose Gerber, a spokesperson for ODOT's Rose Quarter Project. The Rose Quarter Improvement Project aims to make safety and congestion improvements in Oregon's busiest bottleneck, Gerber said. That grant money, specifically, was earmarked for building a highway cover and central core, adding an auxiliary lane and shoulder from I-405 to the Morrison Bridge exit and extending an auxiliary lane and shoulder under the highway cover, among other project elements. 'This portion of the project design is at the heart of ODOT's commitment to addressing the negative economic and social impact due to the construction of I-5 in the early 1960s,' Gerber said. Some Oregon state dollars have been secured for the project to complete needed bridge work and stormwater facilities near I-405, which would set the stage for the larger aspects of the construction project to take place, ODOT said. Level 3 'Go Now' evacuations issued for Salem fire 'Of the $450 million granted to the project, $37.5 million for design and utility relocation has been obligated for spending for the project,' Gerber said. That $37.5 million portion of the federal grants is effectively 'protected from rescission,' she said. The transportation agency is still in the process of analyzing and understanding the impact of the recently passed federal spending bill, which was signed into law on July 4. Gerber said ODOT is 'committed to this project' and will continue working with local and federal partners in the coming weeks to carve a path forward. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword

Eagles hire Joe Douglas as senior personnel director/advisor to GM Howie Roseman
Eagles hire Joe Douglas as senior personnel director/advisor to GM Howie Roseman

USA Today

timea day ago

  • USA Today

Eagles hire Joe Douglas as senior personnel director/advisor to GM Howie Roseman

The Philadelphia Eagles announced six new hires and made nine promotions With veterans and rookies reporting to the NovaCare Complex on Tuesday, the Philadelphia Eagles announced several changes to the scouting and football operations departments, including six new hires and nine promotions. TITLE CHANGES Scouting • Ryan Myers – Director of College Scouting• Matt Holland – Assistant Director of College Scouting• Jarrod Kilburn – Assistant Director of Pro Scouting• Terrence Braxton – Pro Scout• Rod Streater – West Coast Area Scout• Duke Tobin – Midlands Area Scout Football Operations• James Gilman – Senior Director of Football Research and Strategy• Jon Liu – Director of Football Analytics• Zachary Steever – Assistant Director of Football Research and Strategy New Hires Scouting• Joe Douglas – Senior Personnel Director/Advisor to the General Manager Douglas worked for the Eagles from 2016-19, ascending the ranks and leading the scouting department as vice president of player personnel before he departed for the Jets' top spot following the 2019 NFL draft. Douglas played a key role in helping build a Super Bowl-winning roster in 2017.• Preston Tiffany – NFS Scout Football Operations• Smit Bajaj – Quantitative Analyst• Grant Reiter – Football Transactions Coordinator• Molly Rottinghaus – Football Operations Coordinator• Leif Thorson – Software Developer

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